What is NEXO? Nexo price prediction 2023, 2024, 2025 to 2030
Many investors are currently thinking to stake their crypto on lending platforms like Nexo where they can earn interest on their cryptocurrencies. Buying and holding NEXO token would fetch them higher rate of interest. That is why it is important to know the Nexo price forecast and see whether it is worth holding Nexo in 2023 and beyond or not?
Numerous crypto holders store their crypto and digital assets on exchange platforms or digital wallets. But, these advanced exchange platforms don’t benefit you or your investments. But the alternative of finance should serve the users in a way that is no less than the traditional finance. So The Nexo platform intends to solve this problem and offers a way out of just storing and holding your crypto for no returns. It works differently and allows its users to earn interest on the stored crypto as well as take loans backed up by their crypto without selling them.
Before we discuss about the Nexo price predictions for 2023 and beyond, let us first understand what is Nexo?
What we are going to learn?
What is Nexo?
Nexo is a unique platform that lets you earn interest on cryptocurrency investments. It is a Crypto interest account and a lending platform that offers 6% – 12% APR on your investments. Nexo offers monetary benefits to those who store crypto. Nexo also allows users to take loans based on the crypto stored in their Nexo wallet without having to sell them. The interest rates on loans range from 5%-6% which is surely less than other crypto lending platforms.
Nexo was launched in 2017 and was founded by Kosta Kantchev and is driven by Antoni Trenchev, Co-Founder and Managing Partner. The platform claims to offer its clients a 360 degree banking service including buying crypto, selling them, trading or exchanging crypto, or converting your fiat to crypto and vice versa. The Nexo exchange allows swapping of 75+ digital assets, 40+ fiat currencies including the NEXO tokens. The platform has a customer base of 2 million+ users.
What is NEXO Token?
Nexo token is the native cryptocurrency of the Nexo platform. The platform’s basic crypto token is an ERC-20 token which acts as the interest-covered security. These tokens are traded as restricted securities. These tokens are used to make repayments to Nexo with a 50% discount on the interest to be paid if a user holds them and uses it to repay loans.
Holding Nexo also benefits a user and gives them the right to enjoy a higher loan limit, and a 30% Nexo profit-share payment. Nexo is listed on 17 exchanges with a total of 34 active markets. The total supply of tokens is set at 1 billion tokens. 25% of the tokens are for the company’s overdraft funding reserves, 11.25% of the tokens are for the founders and team, 6% of the tokens are for community building and airdrop campaigns, 5.25% of the tokens are for legal advisors and marketing, and 52.5% of the tokens are for sale to investors.
Nexo Token: Details
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Nexo use Cases: What does the Nexo Token do?
Nexo was distributed to the team and early investors during ICO. one benefit of holding the Nexo token is that it pays dividends to its holders. The firm shares upto 30% of its profits with the Nexo holders. The dividends are calculated in USD and paid in your Nexo wallet in BTC and/or ETH and/or Nexo Tokens and/or USD Stable coins.
The first Nexo dividend payment was made on December 15, 2018 which was close to $1 million. The next Nexo dividend payout was conducted on August 15 2019 where US$2,409,574.87 was distributed among token holders. The Third Nexo Dividend worth $6,127,981.39 was distributed on August 15, 2020. The fourth and final Nexo dividend worth $20 million was distributed among the token holders on June 16, 2021.
The token also has few add-on benefits for the cryptocurrency interest account. The Nexo token holders can :
- The token holders can earn 12% APR for stablecoins and 8% APR for other crypto like BTC, ETH, etc.
- The token holders can borrow 5.9% for Nexo’s instant Crypto Credit Lines
The token can also be used to repay loans or avail a reduction in repayment of loans. Holding more Nexo tokens in your Nexo wallet can help you unlock higher loan limits.
Nexo Team and Partners
Nexo has a core team of 14 members and is co-founded by 4 highly skilled members.
Most of these members hold significant positions at FinTech company Credissimo.
Kosta Kantchev is the co-founder, executive chairman and chief managing partner of Nexo. He is also the co-founder and board member of Credissimo, a leading international FinTech group founded in 2007.
Antoni Trenchev is another managing partner and co-founder of Nexo. He was a member of Parliament at the National Assembly of the Republic of Bulgaria. He was also a legal advisor and chief innovation officer at MDL Ltd.
Georgi Shulev is an entrepreneur and co-founder of Nexo. he is also one of the managing partners in the firm. Georgi was also the co-founder of Consestimate Inc. and an M&A Analyst in UniCredit Bank Austria.
Vasil Petrov is the CTO and the co-founder of Nexo. Along with this, he is also the co-founder and investor in Drooble. Vasil was also the CTO and co-founder of US TTV and MD NET. He was a web developer and software engineer before being an entrepreneur.
Advisors of Nexo include Michael Arrington,Trevor Koverko and Ugo Bechis.
Nexo is backed up by BitGo, Ledger, PAXOS, Blockchain.com, Circle, Fire blocks, Terra, IOHK, ChainLink, Brave, Securitize, Cardano, Nexo Capital Partners, etc.
Nexo Social Channels
How to Buy Nexo Tokens ?
One can buy or acquire NEXO tokens in three ways
- NEXO Exchange
- Changelly integration in your Nexo wallet
- Third-party exchanges like Binance, Bitfinex, Huobi.
The Nexo exchange is the easiest, most reliable and safest option to buy NEXO tokens, without having to leave your Nexo wallet. Follow the given steps to buy the NEXO token :
- Log into your Nexo account and add assets to your Nexo wallet.
- Visit the “exchange” tab
- Select the NEXO tokens as the currency to be purchased
- Select the cryptocurrency, fiat currency or the stablecoin which you want to exchange in order to get NEXO tokens
- Click on “exchange”
Buying NEXO tokens through Changelly
In case you don’t have any crypto in your Nexo account and you still want to buy NEXO tokens, don’t worry Changelly integration has got you covered. Below are the steps through which you can buy NEXO tokens :
- Open the Nexo platform and click on “Buy NEXO tokens”
- Click the “buy” button
- Provide the amount and type of cryptocurrency you want to exchange for NEXO tokens.
- Click on “Swap Now” button
- Enter the email address you want to use and enter your Changelly password
- You will be redirected to the “payment” section where you will see the Transaction ID, exchange amount and your address
- Click on the “copy” button and then paste it in the “withdraw to” address field when creating the transaction using private keys
- A confirmation email from Changelly will be received.
- NEXO tokens will be added to your wallet
Buying Nexo though Exchange platform
Nexo can be purchased on crypto exchanges such as Huobi Global, Bitrue, UPEX and Hoo.
Here is a guide on how to buy NEXO on huobi :
- Register for an account on Huobi by visiting the official website
- Fund your account with INR, Bitcoin (BTC) or Ethereum (ETH)
- Click on the “exchange” tab and select your trading pair
- Choose the amount for which you want to buy NEXO tokens and click on “buy NEXO”
- Your Nexo tokens will be credited to your digital wallet
Nexo Price History:
Nexo was initially valued at $0.09 in July 2018, but the prices witnessed constant fluctuation in the volatile market which was not very welcoming of the new NEXO token. The dividend payment in December helped in the hike of prices.
2019 was not a good year for the NEXO token. The newly adapted crypto owners didn’t realize NEXO’s utility and the prices kept falling and hit $0.045 in February. The prices saw a gradual increase after the dividend payout in August and were recorded at $0.1 in September.
The year 2020 was fruitful for the Nexo firm. The prices were constantly ranging between $1-$2 from January to June. The prices finally crossed the $0.2 mark in July and analysts claimed NEXO to be the next best thing in the crypto market. The prices further fell in the dawn of August but saw an exponential growth after November when more crypto adapters started promoting Nexo. the prices spiked from $0.2 in November to $0.733 in December, 2020.
2021 has given promising and positive results to Nexo. The prices were recorded at $0.6 in January and then it suddenly spiked up to $2.33 in March. The year witnessed the all-time high price of Nexo in May when it was recorded at $4.05.
2022 was bearish for Nexo but this was the only lending crypto company that did not collapse in 2022. It started at $2.38 and ended the year at $0.68.
The current price of Nexo at the time of updating this article on January 14, 2023 is $0.71 which is certainly lower than expected, but the company has earned huge profits this year and has given out a dividend of more than $20 million to the token holders.
Forecast: Nexo Price Prediction (2023-2025-2030)
The current year’s fluctuation in the prices of Nexo makes it hard to forecast the future prices, but we have a short and long term price prediction for the token.
Nexo Short Term Price Prediction
Here’s how Nexo price prediction for 2023 looks like:
Current price : $0.71 USD
Nexo price forecast for January 2023: 0.93USD
Nexo token price prediction for February 2023: 1.19USD
Nexo Price Prediction 2023
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Nexo in 2023 is expected to be slightly bullish. It could range from $0.632 to $2.212 in this 365 days.
Nexo Price Prediction 2024
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Nexo Price Prediction 2025
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Next Price Prediction 2026 to 2030
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DISCLAIMER : The Nexo token price prediction is just an estimate and not financial advice. Please research well before investing.
ALSO READ :
- Huobi review : The complete guide on cryptocurrency exchange
- Nexo review : Earn upto 12% P.A. on your crypto
- Price Prediction of Cryptocurrencies
Nexo Technical Analysis: 1 Day, 1 Week, 1 Month
Nexo is a BUY call on 1 days technical analysis. However on a weekly and monthly technical analysis, it is neutral.
Nexo Price Forecast FAQs
What will Nexo be worth in 5 years?
Nexo is expected to be priced at 23 USD in next 5 years. i.e. by January, 2028.
What will Nexo be worth by 2030?
Nexo is predicted to cross 67 USD by 2030.
How much will Nexo be worth by the end of 2023?
Nexo is predicted to be somewhere near 2.212USD by the end of 2023.
Is NEXO worth Investing in 2023?
Nexo is certainly not the only player in the crypto sphere offering crypto-backed loans, but it does have some enhancing features and a promising future. However, after the fall of Celsius, Voyager, and other crypto lending platform and exchanges, Nexo is the only reputed lending platform to come out clean.
Nexo is undoubtedly the leading platform when it comes to giving out crypto based loans or earning interests on stored crypto. Nexo is a startup project that is here to stay in the crypto sphere. The future of NEXO and the crypto loan industry looks bright with an increasing audience around the cryptocurrency.
Overall, investing in Nexo is profitable as well as worth your fortune. We suggest having these tokens in your portfolio for sure. But, you should also remember that the good never comes without the bad. There are certainly some risks involved in Nexo but it is secured and regulated. The growth of Nexo has caught everyone’s attention and you might consider investing in this exceptionally well tokens.
If you are a kind of person who loves receiving interest on their cryptocurrencies without risking your currencies trading, Nexo is one of the best options you have.
I hope you liked our article on what is Nexo and what are the Nexo price prediction 2023-2030. Do share with us under comments what are your expected price of Nexo by the end of 2025?