Get A Crypto Loan From Nexo at 0% Interest & Avoid Taxes (Secret Of The Rich🤫)
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Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for entertainment/educational purposes only and should not be construed as financial or legal advice. You, and only you, are responsible for your investment decisions. This video, post & article should not be construed as investment advice. Capital at risk.
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In this video, I will explain to you how you can get an instant crypto loan from Nexo. Nexo is an amazing platform to get instant loans with zero percent interest charged to them and no need for credit checks or credit history.
Nexo has a loyalty program that is based on different levels which correspond to the amount of Nexo Token you hold in your account. If 10% or more of your total portfolio consists of Nexo Coins, then you will reach their highest level of loyalty which is Platinum.
By having this loyalty level, Nexo will give you the opportunity to take out a loan for up to one year at zero percent interest and you can pay back whenever it is suitable for you, but should be after 30 days at least.
Nexo will pay you immediately, latest within 3 days. I love this and many rich people use this strategy to continue investing and then simply take out a loan against their investments and then repay that loan over time. This way you will never have to sell your investments, nor will you pay any taxes if you sell your crypto so it's really a financially smart move.
Borrowing against your investments is the smartest way to keep investing and compound your wealth over time and Nexo Borrow allows you to do just that very seamlessly and very beginner-friendly.
⏰ TIMESTAMPS ⏰
00:00 Crypto Loans from Nexo Intro
00:20 Why It Makes Sense To Take a Loan
00:40 How I Became Interested In Borrowing Money
02:48 Secret of the Rich (Avoid Taxes)
03:13 Advantages of Crypto Loans
03:50 Nexo Platform Overview
05:24 Nexo Loyalty Levels
07:10 How To Borrow From Nexo
10:00 Withdraw Funds From Credit Line at 0% Interest
12:15 How To Repay Your Crypto Loan
12:51 What I Will Use My Crypto Loan For
13:42 Nexo Loan Summary
#nexo #cryptoloan #instantloan #nexoio #nexoapp #avoidtaxes #moneyhack
@SmartMoneywithKai 2 жыл бұрын
🔵 Sign up to Nexo and get $25 worth of Bitcoin smartmoneywithkai.com/nexo 🟡 JOIN MY SMART MONEY CLUB www.smartmoneywithkai.com/smartmoneyclub
@Emanuelkhamisa4321 Жыл бұрын
Can I join
@SmartMoneywithKai Жыл бұрын
@@Emanuelkhamisa4321 Of course, feel free to use my link👍
@LidewijDiederik Жыл бұрын
Thank you so much for explaining. Very clear.
@SmartMoneywithKai Жыл бұрын
Hi there, so glad you enjoyed it. Many thanks.
@MadBalmer1 Жыл бұрын
Thank you - very informative
@SmartMoneywithKai Жыл бұрын
Many thanks indeed🙏
@user-rr9bi5hk5i 5 ай бұрын
Awesome video, I am wondering after receiving a BTC loan is is possible to send to other platforms?
@SmartMoneywithKai 5 ай бұрын
Thanks a lot 🙌 As I understand you can only borrow EUR, USD, or GBP or borrow in stablecoins using USDT or USDC not Bitcoin. Cheers
@CASYANIROMANIA Жыл бұрын
Very good presentaed and explaind! Congratulations 🤩😍🥳
@SmartMoneywithKai Жыл бұрын
Thanks a lot indeed, glad you've enjoyed it🙏
@Success_is_inevitable 2 жыл бұрын
Wonderful video Kai. I wish you all the luck and more money with KZfaq, you’re true professional. How long it took in your case to see it in your bank account? Greetings from Berlin
@SmartMoneywithKai 2 жыл бұрын
Awww. You made my entire week. That’s too kind of you. Truly appreciated🙏Will definitely keep going and people like you continue to fuel my fire. Thanks for watching and wishing you continued success in your journey which I am sure you’ll have as - success is inevitable 😉👏👍Greetings back to my home city.
@TheWealthUniversityOfficial 6 ай бұрын
Is their a platform like this but for stocks as a credit card linked to the collateral up to 90% so no taxes
@SmartMoneywithKai 6 ай бұрын
Hi there, great idea and I wish there was, would be an amazing feature, but so far none that I am aware of👌 Cheers
@naturesix8061 2 жыл бұрын
Hi, Kai why does waiting 30 days make the interest go to 0%? Thanks! The Captial of Lithuania is Vilnius, formerly Vilna 💠
@SmartMoneywithKai 2 жыл бұрын
Hi there and thanks a lot for the great question. So if you use your card and thus open a line of credit, you can pay that back anytime and even before 30 days to not have any fees. If you take a loan then, as it says in their fine print, there will be a small fee charged to you, though not 100% how that one is calculated. So technically you interest remains 0% at all times as long as you maintain Platinum level membership and maintain the required LTV ratio. Paying back before 30 days will just incur a small additional fee, so I would recommend to only pay back after that to keep it fee and interest free. Or just use your card in case it's for a larger purchase. I do the same and then repay on a weekly basis, just feels better not having a full month of outstandings to be paid end of the month. Hope this helps and great to see your geography skills on point😉✅Cheers and happy weekend☀️
@IIISalvaIII 11 ай бұрын
Thank you very much for this information! Do Nexo send or can I download any PDF document about this loan or credit line? I think my bank would ask for it if I receive an important amount.
@RedHotAmarth 11 ай бұрын
good question, interesting
@SmartMoneywithKai 11 ай бұрын
Hi there, most welcome and yes, you can get a PDF export of your statements including the loan👌
@mtarquinio 2 жыл бұрын
Thanks for the video Kai I also like Nexo a lot - it is very intuitive! I do not have any credit line available despite having $500 USD in staking with them. I assume your collateral cannot be yielding interest to qualify for the loans, right?
@SmartMoneywithKai 2 жыл бұрын
Hi Marcus, thanks a lot🙏 Yes it's a great app and the more I use it, the more I love it. I heard credit line only becomes available from $1000 so hopefully it'll work once you hit that. And yes, you are correct, collateral sadly can't be staked to yield interest, I guess that would otherwise be the ultimate money printing machine😉 Happy investing🚀
@mtarquinio 2 жыл бұрын
@@SmartMoneywithKai so it is about choosing between the 0% APY credit line or staking interest, right? What was your reasoning for going with the loan instead of staking?
@SmartMoneywithKai 2 жыл бұрын
@@mtarquinio Hi Marcus, you don't have to chose between those. If you don't need money, just stake it, that's what I do mostly. The idea for borrowing is simply when you don't want to sell your Crypto but need some quick money for a larger purchase or expense, you simply use your Crypto to get a loan and once you get more income you repay it and you never had to sell your Crypto and never had to pay tax on it, that's the beauty of it. But if you don't need cash, then just keep it staked for sure👍
@GMltd Жыл бұрын
Hi Kai, very interesting video. I have a question, let's say you put as collateral USDT, and you borrow money against the full collateral, those USDT are locked? Let's say I want to keep them as collateral but buy BTC with them, do you think is that possible?
@SmartMoneywithKai Жыл бұрын
Hi there and great question. I didn’t actually face this scenario myself but here is what I found online from Nexo: Your excess collateral can be exchanged for any other supported asset at any time. The collateral already used to back an existing credit line can only be exchanged for currencies with a Loan-to-Value ratio equal to or higher than the one(s) of the collateral used, as indicated in the Nexo Platform. So seems doable as long as you keep the LTV ratio same or higher. Hope this helps. Cheers, Kai.
@GMltd Жыл бұрын
@@SmartMoneywithKai that actually explain it fairly clear! Thanks a lot Kai.
@SmartMoneywithKai Жыл бұрын
@@GMltd My pleasure 😉👌
@kaminznanna 4 ай бұрын
what happens if the price of nexo coin drops dramatically and you fall below the 10% threshold for the interest rate you want?
@SmartMoneywithKai 4 ай бұрын
Hi, not 100% sure, but usually the tier level adjusts in the same day so you would be incurring the interest of the next lowest loyalty level as of the next day.
@Sveipeisen83 Ай бұрын
Hello again Kai For me as a Norwegian they like we go trough a norwegian crypto exhange as NBX to withdraw, so i better do that then. A question about the credit loan, if the bank or something stops the transactions and demands information about the credit of the loan, where do i get that?
@SmartMoneywithKai Ай бұрын
Hi and I see. You should be able to see that under your loan transactions, not sure if they give a separate PDF, but I guess screenshot from the App should suffice. I personally haven't taken a loan before and sadly it's no longer possible at 0%. Cheers
@saswatachakraborty Жыл бұрын
Question: Is Nexo still safe to use after what happened to Celsius?
@SmartMoneywithKai Жыл бұрын
Hi mate, nothing is ever 100% safe of course, but they've survived some difficult times showing that they are well positioned and focus on having enough collateral on all their loans and not over-spend or over-leverage themselves which is great to see. I have most my funds with them so you know my answer:)
@CarlosPedroche Жыл бұрын
Hello Kai, I'm trying to find out how the economy works, for example, if I have a business that generates a lot of profits and I reinvest those profits in the same business to continue generating more income, what benefit of making a loan at 0% Interest in Nexo?, it's just that I don't quite understand that "borrowing against the assets" that the rich make. For example, why do I need to do this technique "borrowing against the assets" if I have a business that generates a lot of income and I reinvest that income in that same business to generate more income?, thanks.
@SmartMoneywithKai Жыл бұрын
Hi Carlos, great question. I think these are two different things. Of course your scenario makes perfect sense to reinvest to grow revenue. However, the point of borrowing against your assets is mostly for personal consumption. If let's say rich people want to buy a house, the would need to sell shares in their company or pay themselves out a profit which is often heavily taxed, this way, the could take out a sizeable loan, tax free, pay the house and later repay the loan, while saving massive amounts on taxes. Hope this helps. Cheers
@gazlives 2 жыл бұрын
what are the risks? how do they make their money if it's 0% APR?
@SmartMoneywithKai 2 жыл бұрын
Hi there and good question, I asked myself the same:) Of course, with anything there are always risks, and Crypto let's be honest, being still very new even higher risk, though overall I feel very confident about them with their good track record thus far. The 0% interest is only for Platinum members, in which you need to hold 10% or more of your total portfolio in Nexo Tokens and the more people that do that, it increased demand, adoption and in return drives the price up which will profit them in return. Similar like Crypto.com did with CRO coin, I think just less aggressive and it seems more financially feasible for a longer period.
@lombrimania Жыл бұрын
Hello my friend, I have a question for you... Could I deposit in Euro or Dollar to Nexo from my Revolut account? Thanks for advance
@SmartMoneywithKai Жыл бұрын
Hi there mate, great question and yes, you absolutely can, that's what I did as well and works perfectly fine👌 Cheers
@lombrimania Жыл бұрын
@@SmartMoneywithKai Hi bro, thanks for your reply... I was trying to register my revolut account in nexo but I got an error... The country to register for example in Dollar or Euro is Lithuania as well, right? Do you have a video where you make a deposit in nexo via revolut? Thanks for advance
@user-gu5tz4sn9n Жыл бұрын
Hello....if borrow with 0%interest is there any case you can pay some interest if you repay before 30 days? And how many days after you take the loan you can repay it ( maximum).? Thanks
@SmartMoneywithKai Жыл бұрын
Hi there, yes, if you repay in less than 30 days there will be a small interest charged, I don't know the exact amount but it will show you before and it's really small and reasonable. Otherwise within 365 you should repay the rest. Cheers.
@user-gu5tz4sn9n Жыл бұрын
After 30 days there is 0%inter ...?
@SmartMoneywithKai Жыл бұрын
@@user-gu5tz4sn9n Exactly, as long as you stay Platinum level member and have enough LTV crypto collateral.
@UX-Crypto Жыл бұрын
That joke got me 😂
@SmartMoneywithKai Жыл бұрын
I'm glad somebody enjoyed my Dad joke😂 Cheers.
@UX-Crypto Жыл бұрын
@@SmartMoneywithKai haha
@forex_shg5799 Жыл бұрын
Me too 🤣🤣🤣
@SmartMoneywithKai Жыл бұрын
@@forex_shg5799 😂👌
@sushantaspiritual8970 2 жыл бұрын
Any security diposit??
@SmartMoneywithKai 2 жыл бұрын
Hi. Not needed. They use your crypto as collateral (or security deposit if you want to call it that way)
@Gvidas28 5 ай бұрын
Can you hold usdt and borrow fiat?
@SmartMoneywithKai 5 ай бұрын
Hi, haven't done it myself but from what I understand, yes, you can 👌
@Gvidas28 5 ай бұрын
@@SmartMoneywithKai hey Kai, hope to see you in Dubai when I'm a crypto millionaire in 2 years :)
@SmartMoneywithKai 5 ай бұрын
@@Gvidas28 😂sounds awesome 😉👌
@tedjrsgmail5591 8 ай бұрын
As of 12/01/23 this product is not available in USA
@SmartMoneywithKai 8 ай бұрын
Hi👋 Yes, sadly due to US regulatory pressure they had to cease this service like so many other exchanges. Cheers
@pkkim9384 4 ай бұрын
Which is the reason SEC is going nuts about this crypto realm. Really sucks for us in the US
@yogeshkotecha6867 2 жыл бұрын
Great Video. So in theory, you could borrow at 0% say for 3 months. Convert USDT to UST and stake UST to get 15-19%?
@SmartMoneywithKai 2 жыл бұрын
Hi Yogesh, indeed you could do that, the infinite money printing machine😉 The only thing to consider is that your total Nexo Coin Balance should stay above 10% of your total Nexo Portfolio in order to keep the 0% interest on your loan. Also of course, the LTV ratio needs to be maintained, in case your selected Crypto collateral drops in price, you will need to add additional crypto collateral or they might start selling some of it to hedge their own risk.
@cryptomania8765 2 жыл бұрын
I hope you didn't do that...
@yogeshkotecha6867 2 жыл бұрын
@@cryptomania8765 nope…. Thank god!!
@cryptomania8765 2 жыл бұрын
@@yogeshkotecha6867 that's good...I did :D
@tutorialtotal6320 Жыл бұрын
Its actually better to get a loan at 0 percent apy then transfer it out of the exchange. Then you know you would only lose a certain percentage if there was ever a hack on the exchange. Collect the yields less risk rather the keep the loan on the platform
@SmartMoneywithKai Жыл бұрын
Hi there and indeed, but I guess that's the use case of a loan anyways, to use it for something else outside the exchange. Just keep in mind though, you might still be liable to repaying the loan, should the company default, as there will be debt collectors coming in to repay users who lost there investments potentially, so it's not just free money:)
@loveislife77 Жыл бұрын
Does your LT bank or Nexi report to VMI in LT? What is the largest loan amount you have placed on Nexo? I'm curious if your LT bank puts a hold on transfers and would require/demand proof of where this money is coming from.
@SmartMoneywithKai Жыл бұрын
Hey there, so far I am not aware of it, I think it's self-reporting, which Nexo makes easy to pull out transaction reports. Initially my LT did ask questions, but after I answered they were ok with it. I transferred both ways and didn't have any issues either way with anyone blocking or holding. Nexo of course only allows you to transfer back to accounts in your name to avoid money laundering. Hope this helps. Cheers.
@skimanization Жыл бұрын
I have just joined Nexo, no investments yet but my question is: "Can I borough $ money using my Crypto bank balance from another platform by showing proof?" "And that I will transfer all of it to the Nexo platform?"
@SmartMoneywithKai Жыл бұрын
Hi Andile, sadly that wouldn't work and understandably so, in the volatile times we live in, they want to hold on to your funds themselves, seeing how many other exchanges went bust, that proof might not mean much. Cheers
@VMX7 7 ай бұрын
Market is now perfect to get a Nexo loan that's for sure
@SmartMoneywithKai 7 ай бұрын
🙌
@frbsac Жыл бұрын
Better to pay interests of the loan and earn interest on yield with the loan than 0% backed-loan without yield….
@SmartMoneywithKai Жыл бұрын
Hi Franz, depends, though you'll likely get less staking rewards than interest you'll pay. The best would be to go for Platinum level, get 0% interest while at the same time receive the highest staking rewards. Win-win😉
@brianmcleod4651 Жыл бұрын
Kai, this is my problem: I have approximately $34,000 usdt in my wallet. In late June, my wallet was frozen by customer service. I had to pay $10,000 usdt in penalty. Last week, I finally paid the penalty. Unfortunately, customer service locked my account because of my lack of computer power, my income and lack of withdrawal. Now, I need approximately $6000 to unlock my account then I can withdraw any usdt. Can I get a loan? Thanks
@SmartMoneywithKai Жыл бұрын
Sorry to hear that, but I think that question is best suited to their support team. Good luck🤞
@brianmcleod4651 Жыл бұрын
Can't get a loan. Need the $6000 usdt badly
@traderjet 19 күн бұрын
@@SmartMoneywithKaiwhat penalty?
@yungjeezy1794 9 ай бұрын
Why is nexo banned in the USA?
@SmartMoneywithKai 9 ай бұрын
Due to US regulations, most of the crypto exchanges sadly did not see a point and feasibility of operating in the US anymore and Nexo was one of them.
@yungjeezy1794 9 ай бұрын
@@SmartMoneywithKai do you know any any good staking/ farming exchanges in US? I’ve been looking forever 😭
@SmartMoneywithKai 9 ай бұрын
@@yungjeezy1794 Sorry mate, I don’t and right now not a fan of staking given the volatile times.
@cryptomania8765 2 жыл бұрын
Why do you receive about 90 euro less then your loan was...you took about 1160 and recieved 1073...
@SmartMoneywithKai 2 жыл бұрын
Hi and thanks for the question. It's because Nexo displays all values in USD, even though it doesn't actually convert your funds, but it displays it in USD so once I took the loan it was paid to me in €, that's where the difference comes from.
@cryptomania8765 2 жыл бұрын
@@SmartMoneywithKai ouh right, yeah that would do it
@CryptoSam65 5 ай бұрын
I've just borrowed some on Nexo, 😎
@SmartMoneywithKai 5 ай бұрын
👏👌
@Sugartits66 3 ай бұрын
If I repay the loan with bitcoin is that taxable
@SmartMoneywithKai 3 ай бұрын
Well you would borrow Fiat against your BTC which would be your collateral, so you would repay in Fiat and no, that's not taxable 😉
@Sugartits66 3 ай бұрын
@@SmartMoneywithKai but is using BTC to pay off the loan taxable
@SmartMoneywithKai 3 ай бұрын
Not sure, that would depend on your country of residence, better double check, not a tax expert. Cheers
@buymac Ай бұрын
It is an taxable event in every country
@SmartMoneywithKai Ай бұрын
@@buymac Hi and no, for example in Dubai where I live it's not 😉
@huyttvlog Жыл бұрын
You need money to get a loan ?
@SmartMoneywithKai Жыл бұрын
Hi yes, as a collateral which is fully understandable. As they don't do a credit check on you, they do need some kind of security, otherwise it's like giving out free money to people you don't know😉
@Travelingforlife 5 ай бұрын
As a new investor, I dont understand how it helps taking out a loan that will need to be paid when you don't use the Bitcoin profits?? So growing money on a ledger but not ever using it. This means you don't use your bitcoin but use any other money that you would need to have, if any. Seems illogical.
@SmartMoneywithKai 5 ай бұрын
Hey there! 👋 Great question, and I'm glad you're diving into the world of investing. It does sound a bit counterintuitive, doesn't it? Here's the gist: Taking out a loan using Bitcoin as collateral allows you to keep your Bitcoin and potentially benefit from its long-term growth, without selling it. It's like having your cake and eating it too! 🎂 The idea is that you're betting on Bitcoin's value increasing over time. So, instead of selling your Bitcoin (which you believe will be worth more later), you take a loan against it to meet your current cash needs. Yes, you'll have to pay back the loan, but if Bitcoin's value grows, you still hold an asset that's increased in value. It's a strategy that comes with its risks and isn't for everyone, but it's one way investors try to leverage their holdings without liquidating. Always weigh the risks and have a plan! Cheers
@Travelingforlife 5 ай бұрын
@SmartMoneywithKai I have since placing a question with you researched and it makes clear sense to not sell and get loans as needed. This is what the rich do. Thanks so much for your response!!
@SmartMoneywithKai 5 ай бұрын
@@Travelingforlife Glad to hear and my pleasure 🙌
@Travelingforlife 5 ай бұрын
@SmartMoneywithKai HI, hope you don't mind I ask another question. I just started buying crypto this year. I plan to hold Bitcoin permanently. I have heard that some people when transferring crypto from an exchange like Coinbase to a hard wallet could have what's in that wallet drained. Is there a way to transfer to a cold wallet that holds nothing then once into that, transfer to the wallet storing your crypto like Bitcoin. I've been researching so much but one guy said that's worrying too much. Not sure what options there are. Any guidance is appreciated. Thanks
@SmartMoneywithKai 5 ай бұрын
@@Travelingforlife Not sure I follow but if you bought a genuine Ledger hardware wallet nothing to worry but first time just send a small amount to see all works👌
@wilzymemes Жыл бұрын
Can I do this in Nigeria 🇳🇬?
@SmartMoneywithKai Жыл бұрын
Hi there and yes, it seems so👌 support.nexo.com/s/article/is-the-latest-nexo-app-version-available-in-my-country#:~:text=Austria%2C%20Belarus%2C%20Belgium%2C%20Canada,%2C%20Bahrain%2C%20Egypt%2C%20India%2C
@MillionaireJourneyHubz 2 жыл бұрын
Great vid!!!! Keep it up. Hi, how you top your account with funds? I used your link wanna buy crypto. Thanks
@SmartMoneywithKai 2 жыл бұрын
Hi and thanks for using my link. Yes I use Euro's to top up via bank transfer like I showed in the video, but you can also use most other currencies like USD or GBP or even Crypto in case you have some in another exchange. Cheers.
@MillionaireJourneyHubz 2 жыл бұрын
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@PKandME Жыл бұрын
When I have to pay back normal 6.9 APR?
@SmartMoneywithKai Жыл бұрын
Hi there, usually it's a rolling 12-month loan, but it would just auto extend and you keep paying interest. Important that you have enough collateral, otherwise they might start selling parts of your Crypto to reduce the LTV. Cheers
@AndyRoma68 2 жыл бұрын
Kai I'm sure you have already taken a loan with Nexo. I used last week the credit card for my plane tickets ..lets say 4000 usd of loan, (with USDC) which where placed in the Credit line Wallet. Now I can repay them, and there are some cryptos I can use as a repayment, including the same USDC I used...Strange? Or I missed something? I can repay the loan with the money used for the loan?
@SmartMoneywithKai 2 жыл бұрын
Hi Gigi, yes, technically you can repay part of your loan with the money you borrowed, though it would probably defeat the purpose 😉 I only use FIAT money loans before so can’t comment on USDC but should be the same principle. The same is true though for any bank. You could take a loan in EURO and repay it with the same money but usually there is a minimum payback period for NEXO it’s 30 days if you repay the loan before there will be a little fee on that, though I am not sure how much exactly.
@AndyRoma68 2 жыл бұрын
@@SmartMoneywithKai yeees 1 month in which they suggest not to start repay the loan or part of the loan in order not to pay interests. But I'm paying 1.50 interest daily in any case with my 4200 usd loan 😊
@SmartMoneywithKai 2 жыл бұрын
@@AndyRoma68 Exactly, this is a fantastic 'fee' to pay compared to traditional banks that would charge a fortune.
@ishworgarbuja6845 Жыл бұрын
Hi I'm from Nepal does it helps to Nepalese people?
@SmartMoneywithKai Жыл бұрын
Hi there, it seems that Nexo should be available for you to open in Nepal👌
@ishworgarbuja6845 Жыл бұрын
@@SmartMoneywithKai how much assests should we have to get loan?
@SmartMoneywithKai Жыл бұрын
@@ishworgarbuja6845 Depends on which Crypto you use as collateral. In general the more stable the Crypto the less you need. Bitcoin for example has 50% collateral whereas Nexo which is more volatile only accounts for 15% collateral value.
@robertniebieski 2 жыл бұрын
Vilnius
@SmartMoneywithKai 2 жыл бұрын
Yes Sir😉💯✅
@theblairproj8560 2 жыл бұрын
Oh I thought I can easily loan my $25 or barrow
@SmartMoneywithKai 2 жыл бұрын
Hi Blair, yes, actually you can do that😉 Not sure why you think you can't? Very simple, quick and easy. It helps though to have some Nexo Tokens as well in your portfolio so you become automatically a Platinum member and then can borrow against your Crypto at 0% interest, which is just incredible.
@vw1610 Жыл бұрын
im so bummed the SEC scared NEXO away.. :(
@SmartMoneywithKai Жыл бұрын
Yea, they are doing a great job in scaring most people out of Crypto these days...:(
@user-zl5so3it6o 8 ай бұрын
If I want to borrow 100,000$, that means I have to keep 500,000$ in crypto, which means that 1: I have to trust nexo with the 400,000$, and 2: Nexo's paying 7% on 400,000$ if you stake it, and by keeping it under the borrow, you're getting 0. So how can it possibly be worth it am I missing something lol
@SmartMoneywithKai 8 ай бұрын
On BTC there is a 50% LTV ratio which is very reasonable so if you borrow 100K you need to put up 200K in BTC collateral which is fair enough given the lack of usual loan qualifying processes. Cheers
@paskljhhg 11 ай бұрын
VILNIUS WTF YOU LIVE IN LT
@SmartMoneywithKai 11 ай бұрын
Yep, indeed and loving it here😉
@mrnogood Жыл бұрын
This video didn't age well. Turns out that it WAS too good to be true.
@SmartMoneywithKai Жыл бұрын
Hi there. Not sure what you mean. This still works and considering most competitors went bust I must say all credit to them for sticking it out. Now you may not chose to want to do this, neither do I as I currently see the risk too high, but it still works as I’ve shown there👌
@mrnogood Жыл бұрын
@@SmartMoneywithKai show me ONE person or company who has successfully done it and didn't get their account wiped when the price crashed.
@SmartMoneywithKai Жыл бұрын
@@mrnogood You looking at it right now. Myself I took many loans through them so did many others and the fact that they still offer this today at such low Crypto prices out there that speaks volumes. They are actually lending out FIAT so that means they have liquidity otherwise they would have stopped this a long time ago. Again I am not advocating to do this right now and I stopped as well as I have the same concerns but I must applaud them for still sticking to this and offering this feature👌
@halilcaliskan7180 10 ай бұрын
@@SmartMoneywithKai Sorry I didn't get what have changed and you consider it more risky. Btw the link you shared seems insecure and even if you click continue it doesn't open.
@SmartMoneywithKai 10 ай бұрын
@@halilcaliskan7180 Hi there, not sure what you mean, the link works perfectly fine, just checked. And why I consier it risky? Well, that's just the nature of Crypto investing at this stage plus the fact that so many established exchanges went bust, makes it definitly much more risky than keeping your money at the bank, but risk doesn't have to be a bad thing, is just something to keep in mind. Cheers
@livechangingmoney Жыл бұрын
Very risky my friend
@SmartMoneywithKai Жыл бұрын
Hi Milan, agreed, I am also not using it anymore given the times we are in, but the idea is great and worked flawlessly when I did it, just now I prefer keeping all my Crypto in cold storage. Cheers
Forbes
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