Nexo invest 50K euro on this platform, secure?

[happyjohn]

Thanks to another thread, I have now created an account on nexo.com. I haven't seen any verification process yet, which surprises me, but if there isn't one, and it's normal, I feel even better about it.

Nexo: Buy, Exchange, and Store Bitcoin & Crypto

Nexo is the all-in-one crypto platform to buy, exchange, and store Bitcoin and crypto. A single wallet to borrow, earn interest or exchange 500+ pairs. Get started!

nexo.com

However, can anyone vouch for this platform if, for example, I were to invest 50K euros at a 5% interest rate for three months?

 

[JohnnyDoe]

It’s one of the few survivors of the 2022 wipeout. I can’t tell any bad about it, but I have learned the hard way to never again lend out my crypto.

 

[happyjohn]

Thank you very much for your post @JohnnyDoe it says alot. So you don't invest your cryptos in stacking only earn on day trading bitcoins or whatever you do with them?

 

[JohnnyDoe]

Thank you very much for your post @JohnnyDoe it says alot. So you don't invest your cryptos in stacking only earn on day trading bitcoins or whatever you do with them?

I do stack crypto like ETH onchain, which is different than depositing crypto on an exchange in return for a %. I do not keep any stablecoin for more than a few days, just the minimum needed for executing payments or converting into btc.

I have already explained why stablecoins are a scam and/or a honeypot. I don’t want to finance Deltec or the US Government (which are the same thing).

I use btc as a storage of wealth, I just play with the other coins and I don’t recommend any as a serious investment.

Always keep your btc in cold storage!

 

[diatessaron]

https://www.reddit.com/r/Nexo/comments/htx8ng/nexo_link_to_zeus_capital_fraud

 

[JohnnyDoe]

https://www.reddit.com/r/Nexo/comments/htx8ng/nexo_link_to_zeus_capital_fraud

This seems quite an old story.
I still have something on Nexo for some reason:

While I’m not endorsing it, I appreciate how it survived all the past challenges.

 

[happyjohn]

This seems quite an old story.
I still have something on Nexo for some reason:
View attachment 7725
While I’m not endorsing it, I appreciate how it survived all the past challenges.

You say that Nexo is not to be trusted and that one should be cautious, yet you imply that you have around 500K USD in that wallet! Is that money you don't need and therefore don't care if they take off with it, or what should one conclude from your other posts about Nexo?

 

[diatessaron]

This seems quite an old story.
I still have something on Nexo for some reason:
View attachment 7725
While I’m not endorsing it, I appreciate how it survived all the past challenges.

The story is old, but they made a move against a coin so they could cause a massive sell-off that would burn a lot of their clients.

 

[JohnnyDoe]

You say that Nexo is not to be trusted and that one should be cautious, yet you imply that you have around 500K USD in that wallet! Is that money you don't need and therefore don't care if they take off with it, or what should one conclude from your other posts about Nexo?

It’s money that has been sitting there for a while and I don’t want/need to move atm, because I don’t need it and I don’t want my good wallets to be polluted by a cex. Nexo offers a debit card btw.
The only conclusion to be drawn is that I preach what I teach
I am doing the same with crypto.com

 

[wellington]

Thanks to another thread, I have now created an account on nexo.com. I haven't seen any verification process yet, which surprises me, but if there isn't one, and it's normal, I feel even better about it.

Nexo: Buy, Exchange, and Store Bitcoin & Crypto

Nexo is the all-in-one crypto platform to buy, exchange, and store Bitcoin and crypto. A single wallet to borrow, earn interest or exchange 500+ pairs. Get started!

nexo.com

However, can anyone vouch for this platform if, for example, I were to invest 50K euros at a 5% interest rate for three months?

Wouldn’t touch it.

Connected to Bulgarian mafia either money or behind the scenes

Use a protocol instead

 

[happyjohn]

I'll pass on this as well, it seems far too uncertain. I can't afford to lose 50K euros, if you @JohnnyDoe can afford to lose 500K USD, that's your business. I'm not getting involved.

 

[clemens]

This thread could end up saving many people from a lot of frustration and significant losses. Thanks for the information, I will refrain from investing anything in this site.

 

[jafo]

I don’t want to finance Deltec or the US Government (which are the same thing).

The Deltec case you mentioned a while back was eye-opening AF! After reviewing the docket sheet vis-à-vis Deltec, I changed my whole playbook.

Sadly, I can't convince any of my buyers in Latin America to do the same. Some don't speak English well enough to read that case, and I don't want to "cadrai forte" (roughly translated for the Anglo-Saxons = come down too hard) on my buyers and turn them off/scare them away!
I said my peace...the USD₮ is now in their court!

I have one who owns several malls (not just shopping centers, but HUGE 5-story malls) who is holding +8 digits in USD₮.
I tried to bring it up, but he quickly dismissed my concerns... Maybe he also has a deal with the US government since one of the largest US embassies is in his country.... who knows?

Anyway, thanks for bringing that case up a while back! I sleep much better now!

 

[AndyAresa]

Wouldn’t touch it.

Connected to Bulgarian mafia either money or behind the scenes

Use a protocol instead

hello, could you give more details, what protocol are you referring to?

 

[bigdaddyleon]

I recently borrowed fiat through Nexo and deposited Bitcoin as collateral, which worked well without any problems.

Personally, I wouldn't leave any money there, maybe Bondora Go & Grow would suit you better for fiat.

 

[JohnnyDoe]

I recently borrowed fiat through Nexo and deposited Bitcoin as collateral, which worked well without any problems.

Binance is better for that

Personally, I wouldn't leave any money there, maybe Bondora Go & Grow would suit you better for fiat.

It’s just for pocket change: Every month, the first €1000.00 you invest will earn up to 6.75%* returns p.a. Everything over that amount will earn up to 4%* returns p.a.

 

[bigdaddyleon]

Binance is better for that

Thanks for the tip!

It’s just for pocket change: Every month, the first €1000.00 you invest will earn up to 6.75%* returns p.a. Everything over that amount will earn up to 4%* returns p.a.

A few days ago, a campaign should have been launched to lift the monthly limit until the end of the year. This means that interest should now be paid on everything at 6.75 %.

https://imgur.com/kBVyFmZ

However, I am not personally invested with Bondora, I had only read the information in a group.

 

[wellington]

Binance is better for that

I wouldn't touch Binance these days with a ten foot barge pole.

 

[Mercury]

TradFi, CeFi, and DeFi: The new FinTech frontier | Chainstack Blog

Navigate next-gen finance with TradFi, CeFi, and DeFi, bridging old and new for a future that is inclusive, transparent, and decentralized.

chainstack.com

DeFi is not safer than CeFi.

Crypto comes with risks, just DYOR and invest accordingly.

 

[wellington]

TradFi, CeFi, and DeFi: The new FinTech frontier | Chainstack Blog

Navigate next-gen finance with TradFi, CeFi, and DeFi, bridging old and new for a future that is inclusive, transparent, and decentralized.

chainstack.com

DeFi is not safer than CeFi.

View attachment 7730

Crypto comes with risks, just DYOR and invest accordingly.

Once clicked a link on Twitter thinking it was the company and okd a transaction and observed as 50k was drained from a wallet lol

I will admit I was more impressed than annoyed