Solana joins Nexo; users can earn up to 8% interest on SOL
Nexo users can buy, trade and get loans in exchange for Solana Tokens (SOL / USD). They could earn up to 8% interest on their holdings, Invezz learned in a press release. Nexo wrote:
As you know, we always have the best interests of our customers at heart, so we’re back with some exciting news for you: Nexo brings SOL on board! You can now buy, trade, earn and borrow against your SOL on our platform.
Users instantly get Solana tokens in their wallet. Interest is paid daily. They can get loans with SOL as collateral and at rates starting at 6.9% APR and swap SOL on Nexo at actual cost.
Nexo guarantees that you can buy SOL easily, securely and instantly on its platform. You simply add your bank details to your Nexo wallet and press ‘buy’.
You can trade Solana for Bitcoin (BTC / USD), Ethereum (ETH / USD), Tether (USDT / USD), and three fiat currencies: US Dollar, Euro, and British Pound.
Nexo presents the return on its savings on Solana as the highest on the market. With Nexo’s Earn Crypto Interest suite, it gets paid daily. You don’t have to do anything to start increasing your passive income other than top up your balance.
Get an instant cash loan
Nexo’s Instant Crypto Credit Lines trademark allows users to obtain a cash or stablecoin loan using Solana tokens as collateral. The APR starts at 6.9%. The minimum loan amount you can get is $ 50. The maximum is $ 2 million. No credit check is required. The platform will process your application automatically and loans can be approved in seconds.
You can repay the loan in whole or in part at any time. No installment payments or minimum repayments are required.
Solana supports more than 400 projects in the NFT, Web3, DeFi and other sectors. Its combined consensus mechanism is based on proof of history (PoH) and proof of stake (PoS). It has very low transaction costs and claims to be able to process up to 50,000 transactions per second.