Edging Ahead with Technology: Nexo Lists KSM!

Feb 24, 2022•4 min read

You know that feeling when you find that tiny, yet just-right, symbolic gift for a close friend, right? That’s how Nexo feels about the latest cryptocurrency we added to our product suite: Kusama’s KSM is now listed on the Nexo platform! Read on to see how you can make use of it with our services:

  • Buy: Purchase KSM on Nexo and receive it in your wallet immediately. Get up to 0.5% back on each purchase and exchange transaction you make.*
  • Earn: Get a 12% yield when you buy and HODL KSM on Nexo.
  • Boost: Apply the Nexo Booster and get 3x the buying power of your KSM to get more of it or another crypto!
  • Exchange: Convert to and from KSM on the Nexo Exchange hassle-free.
  • Borrow: Open a credit line with your KSM at rates starting from 0% APR.

*The crypto rewards you receive depend on your Loyalty tier. The higher your tier, the more rewards you get. For example, Platinum users get 0.5% back. With the initial launch, Nexo clients will only be able to add KSM to their accounts Nexo accounts by purchasing the asset through the Nexo Exchange. The Nexo Team is hard at work to bring you KSM top-ups and withdrawals as soon as possible.

The Wild Cousin to Cheer You Up!

Kusama’s KSM has been on our radar for a while now, as it comes from the founders of Polkadot’s DOT – Parity Technologies. Dubbed “Polkadot’s wild cousin” by its creators, KSM currently stands at over 50 times in value since its inception in late 2019. Over time this cryptocurrency has shown its resilience and held its ground in the dynamic crypto market. Kusama’s token is firmly in the top 100 cryptocurrencies with a market cap well over $1B. Read on for more details on what you can do with your KSM.

Buy KSM on Nexo

Already a recognizable cryptocurrency, KSM is easily accessible on Nexo. Simply use your Visa/Mastercard debit and credit cards and get it in minutes. Alternatively, visit the Nexo Exchange and swap any other asset for KSM. Just to round things off nicely, the Nexo Booster is also available for your KSM tokens, so put it to use, if you really feel Kusama and want to buy more of it or another crypto!The currently available pairs with KSM are:

KSM/BTC

KSM/ETH

KSM/USDT

KSM/USDC

KSM/EURx

KSM/GBPx

KSM/USDx

KSM – a Strong Earner? It Sure Is at up to 12%!

Nexo’s Earn suite is available for KSM. All you need to do is buy KSM with your card or swap another asset for it. As soon as it enters your account, you’re ready to start earning daily! The payout depends on your Loyalty tier. Below you can view more details on our Earn offerings:

  • Platinum: Maximum rate – 12%. Standard rate – 9%.
  • Gold: Maximum rate – 10%. Standard rate – 8%.
  • Silver: Maximum rate – 9%. Standard rate – 7.5%.
  • Base: Maximum rate – 8%. Standard rate – 7%.

How Do I Get the Maximum Rates?

No matter what your Loyalty tier is, you can always increase your KSM earn rates by setting it up with a Fixed Term. You can enjoy even better rates for Silver, Gold, and Platinum tiers when you select to receive your interest in NEXO with Earn in NEXO. The maximum rates for your personal tier are achieved when you’ve chosen both Fixed Terms and Earn in NEXO.

Utilize Your KSM to the Maximum

Your KSM assets can also be used for Nexo’s Instant Crypto Credit Lines™ to borrow cash or stablecoins against KSM, whenever you need alternative liquidity, without selling your assets. The details on a standard Nexo credit line are below:

  • Interest rates starting from 0% when borrowing with an LTV of under 20%.
  • A permitted LTV of 33% for KSM
  • A minimum borrowing amount of just $50
  • No credit checks
  • No monthly repayments
  • No origination fees
  • Instantly settles in your account – from application to approval in seconds

For more information on Nexo’s Loyalty tiers and Instant Crypto Credit Line interest rates click here and see how you can make the most of your KSM. If you’re a Gold or Platinum client, borrowing at an LTV under 20%, you qualify for our low-cost and 0% rates – read all about them here.

Boost KSM! Use the Nexo Booster to buy more KSM with leverage! Boost any asset you choose and get up to 3x leverage on KSM or another cryptocurrency you want!

Nexo is working hard to expand our product suite with attractive cryptocurrencies and platform features, allowing our clients to explore and transact with new digital assets. Check in here frequently and learn about new additions!

About Kusama

Kusama and its native token KSM are developed on the Substrate blockchain, using a codebase identical to Polkadot’s DOT. Both are created by the same founding team, Parity Technologies. What distinguishes Kusama is its purpose to provide a testbed for developers to try out new blockchain applications and technologies, before full integration with Polkadot’s or other blockchains. Kusama delivers high interoperability and scalability for developers as its main features, while in terms of market capitalization the project has shown tremendous growth since its inception in late 2019.