The Five Ws and How of the Nexo Exchange
“All I want to do is buy NEXO Tokens without leaving the platform,” used to be a phrase that frequented Nexo’s social media feeds.
That’s past history now because on February 1, in direct response to our community’s requests, we launched the Nexo Exchange.
The Nexo Exchange saw over $60M in transactional volume between the pre-release on Dec 22 and the official launch on Feb 1.
What is the Nexo Exchange?
The short answer:
The Nexo Exchange is our swap feature, which allows immediate exchanges between more than 150 market pairs, with the best prices currently available, an unlimited number of swaps and zero time spent on withdrawal confirmations.
It is also the quickest way to buy and sell NEXO Tokens in the same place you safely store, borrow against, and earn in $NEXO.
The explainer answer:
For the company, this new feature is another major step on the way to offering a 360-degree banking suite that bridges digital and traditional finance.
For the NEXO Token, it is a whole new ball-game because you no longer have to use third-party services to buy or sell it. As if that weren’t enough, the official launch of the Nexo Exchange marked the NEXO Token’s ascent to $1 apiece.
The NEXO Token is up 52% since the launch of the Nexo Exchange.
Why should you use the Nexo Exchange?
Among its many perks, this new feature:
- Gives you the best market price currently available thanks to its Smart Routing System, which connects to the most trusted and well-capitalized exchanges simultaneously to provide a quote better than any manually executed one.
- Prevents price fluctuations post-submission by fixing the price the moment you place an order and making sure your order is executed exactly when you place it, so that your balances update immediately.
The Nexo's crypto exchange guarantees immediate execution, while with other providers the price can change by up to 5%.
- Allows you to make unlimited number of swaps, up to $250,000 per transaction.
- Supports all crypto and fiat currencies available on the Nexo platform, offering 150+ pairs to exchange between, including NEXO Token* pairs NEXO/BTC, NEXO/ETH, and NEXO/USDT.
- Saves you transfer fees you would incur if you were to buy digital assets from crypto exchanges.
When would you use the Nexo Exchange?
When you want to:
- natively buy and sell NEXO Tokens within the app
- exchange between digital and fiat assets
- acquire your very first cryptocurrencies
Тhanks to the mobile app's user-friendliness, Nexo becomes a first port of call for newcomers to the digital assets space.
How to use the Nexo Exchange?
- Make sure you’re running the latest version of the Nexo app.
- Open the app and click on the Exchange tab in the bottom of your screen.
- Select the currency you want to pay with, the currency you would like to receive, and the amount you would like to exchange.
- Click ‘Preview Exchange’ to review your transaction and finalize it by selecting the ‘Exchange’ button.
- You’re all set! You can keep making unlimited number of swaps, up to $250,000 per transaction.
Who can use the Nexo Exchange?
Any registered Nexo user who runs the latest version of the Nexo app and has passed Identity Verification can swap between all supported pairs.
Where?
A click away, at nexo.com/app
While apps are adding BTC to ride the hype wave or differentiate from competitors, we’ve known what we’re here for since day one: making the most of your crypto.
Now, on top of not having to sell your cryptocurrencies to get tax-efficient financing and earning passive income, you no longer have to navigate between countless crypto and non-crypto platforms to exchange seamlessly. Get swapping!
* Buying and selling NEXO Tokens on the Nexo Exchange is currently not available for US citizens.
