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Evening all, so I recall hearing and reading about this last year and just got round to opening an account this evening. Full account and all KYC verified within 30mins and super easy to do from the Apple app.

Transferred some BTC from Uphold and it arrived within 60mins as they require a minimum of 6 confirmations and then converted 25% of holding to Nexo within the app instantly which gives you the top level account  as you need a minimum of 10% of all  holdings to be in Nexo to have the Platinum level. I’ve also set up a bank transfer to see time frames of the transfer but I would guess that will hit the account next working day possibly.

I will see how it goes with the interest and dividends before thinking of transferring any sizeable XRP holdings to Nexo and go from there. So far so good but it’s early days so will see how it goes  

 

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I hope I posted this in the right spot, XRP is my primary hodl bag and was looking to use it together with banking services for convenience. I have looked for other (EUR) ways to get a good solid and

Got started. Deposited some Xrp. Only thing I don't see is a whitelist address option for withdrawing.        

I tried NEXO small scale with EUR and was very happy. However they are quite opaque with the whole "$100M insured" thing and I am not sure which situations the insure governs and is the amount for the

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7 hours ago, brianwalden said:

@B088IN I recently put my XRP into Nexo after checking to make sure I could deposit and withdraw small amounts quickly. You have to have it in there a full 24 hours before your get your first payment, so tomorrow night.

Cool, thanks. 

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6 hours ago, NMNR said:

I didn't know of this. Makes sense if i' just holding xrp...

Anyone have more details on their security measures? Surely this is a goldmine for hackers?

All insured and I don’t see them as higher risk than most other exchanges or banks. I only hold relatively small amounts on Nexo and my majority holdings are in cold storage. 

Edited by B088IN
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I've been using them for a while, they're pretty good – made a killing on their token but all sold up now. 

I wouldn't borrow with them though, not unless you have a lot of Nexo tokens and collateral and you're borrowing money you don't mind losing if you get frozen out. 

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4 hours ago, thinlyspread said:

I've been using them for a while, they're pretty good – made a killing on their token but all sold up now. 

I wouldn't borrow with them though, not unless you have a lot of Nexo tokens and collateral and you're borrowing money you don't mind losing if you get frozen out. 

I read an article once, you could borrow & not pay them back, they keep the crypto of course, but you owe NO tax.....

So, why not wait for when the price is right for you, put up the crypto & take the loan, re-nig on the loan......

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1 hour ago, pucksterpete said:

I read an article once, you could borrow & not pay them back, they keep the crypto of course, but you owe NO tax.....

So, why not wait for when the price is right for you, put up the crypto & take the loan, re-nig on the loan......

Hmm... Even if they make you pay the full interest, that's still less than capital gains taxes.

Edited by brianwalden
Wrong tax type
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