Nexo - Invest in yourself

Current difficulties with financial decisions

Have you ever financed a project and later regretted the method you used to finance it? Let's say you got a small bank loan, but after a few months of paying interest you realized you could already afford to pay the rest off. You know if you had just waited a little longer you could have financed the project without the loan but you're already out a significant amount of interest money now. Or, let's say you decide to use the bulk of your savings to finance a project and then some unexpected expenses come up and make you regret stretching yourself so thin. Things like this happen all the time, hindsight is 20/20 right? The most logical method of financing a project can sometimes be unclear at the start of the project. Sometimes, if you're really lucky, you'll be able to pick up materials for a project and get a deal for interest free financing. However, even that can be difficult, because you are required to pay a minimum payment every month, which means you're limited in how strategic you can be on when to pay the balance back.

Often times, to play it safe, you might pick a loan that has terms you know you can abide by. Unfortunately, that means you're going to waste a large amount of money on interest. Nobody likes having to make these financial decisions that you're not sure are the best way to go, but it's even harder to make those decisions when you've wisely invested in cryptocurrencies and know that you have a portfolio worth a large sum of money sitting there not working for you. When you do have those resources, it becomes very tempting to cash out on some of your portfolio to finance whatever it is you're needing funds for. The problem is, you then lose out on any crypto gains you would have gotten during the time it takes you to save up the money to replace the coins you spent. Whether you're looking to finance a project, start a small business, or purchase a new car, it's extraordinarily common to find yourself making these financial decisions. Luckily, Nexo has identified a better way to finance these endeavors.

Nexo's solution

Nexo is a blockchain platform that allows users to transfer their cryptocurrency tokens to an overdraft wallet. Then, Nexo provides you with funds as soon as the same day! Instead of paying a high interest rate on a loan every month as well as potentially many fees to originate the loan, you simply are given a very competitive interest rate with no fees at all for the service of leveraging crypto assets you have. In essence, you're able to loan yourself money without selling any of your cryptocurrencies in exchange for a much more reasonable cost than working through a traditional lender. Since you are essentially funding the project yourself, you don't have to schedule monthly payments. Technically, you don't even have to pay the fiat money back at all if you'd rather just give up the crypto assets that cover the cost of the loan at the end of the term. This creates an insanely flexible method of financing projects that you can't find anywhere else. Remember earlier in this post when I mentioned hindsight is 20/20? What if you could pay a small amount of interest to simply put off the decision making on how to best finance your project? Nexo gives you the benefits of that 20/20 hindsight making sure you always pick the best method of paying off the balance.

Also, as I mentioned earlier, you can potentially get your money the same day with Nexo. This means that you don't have to wait through a grueling loan approval process. Nexo doesn't have to care what your credit score is or who you are, as long as you send adequate crypto assets to the overdraft wallet you can get the financing you desire. Although the Nexo cryptocurrency and platform is new, the company behind Nexo, Credissimo, has been in business since 2007. Their proven track record of service and adherence to strict regulations should give you confidence that your business is safe with them. Since their inception, they have already granted $120 Million in loans successfully. Also, they have the release of a crypto credit card listed on their road-map for 2018 to offer more flexibility to those who store their cryptocurrencies in their overdraft wallet. This would allow users to make purchases anywhere that accepts credit cards leveraging against their cryptocurrencies for a very reasonable interest rate instead of working with the absolutely outrageous interest rates (and other fees) associated with traditional credit cards.

Check out the Nexo Video from their website

Another exciting aspect of this platform, is the combination of the simplified financing it provides and the entrepreneurial spirit of the cryptocurrency holders that it caters to. It's one thing to provide a better lending service to the general public, but Nexo has done so for a specific demographic of people that are early adopters of new technologies and have the entrepreneurial spirit to try and make their own way in this world. How many early crypto investors do you suppose have great business ideas they'd love to bring to fruition, but are simply not willing to surrender their crypto assets to do so. Now, this innovative group of individuals has been given a tool that could allow them to finance other projects they want to work on without having to sell of assets they plan to hold. Nexo has found a great fit for a great solution, and I'm excited to see what kind of success stories start right here on the Nexo platform!

@Originalworks contest link
https://steemit.com/cryptocurrency/@originalworks/280-steem-40-bonuses-sponsored-writing-contest-nexo

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