- Nexo exchange lists Polygon (MATIC).
- Users can now buy, swap, borrow against, and earn high interest on their MATIC.
- Nexos to offer the top-ups and withdrawals features soon.
Nexo — a leading exchange that allows users to buy, sell, and swap cryptocurrencies among over 150 market pairs, announces Polygon’s MATIC is joining them. In their bid to build a formidable crypto exchange, Nexo keeps introducing prime digital assets for its Nexo exchange users.
Nexo avails its users the opportunity to secure one of the highest savings yields on the market by growing their MATIC holdings securely on the Nexo platform. Additionally, Nexo’s team says it is working tirelessly to ensure it brings the MATIC top-ups and withdrawals without further delay.
MATIC Now Available on Nexo
Through the exciting listing, users can now buy, swap, earn, and borrow against MATIC on the Nexo platform. To elaborate, when users buy MATIC on Nexo, it reflects within seconds in their wallets. They can also earn by receiving up to 20% interest on MATIC, which is distributed daily following the ongoing promo. In the long run, users who buy MATIC will keep earning high yields.
What’s more, you can swap your MATIC instantly on the Nexo Exchange. Alongside, borrow against MATIC for as low as 6.9% APR. Interestingly, there is a cashback promo available for borrowing against MATIC. To buy MATIC, simply go to your Nexo wallet, enter your bank details and proceed to buy at the touch of a button. Here are the available pairs on Nexo exchange:
Polygon, Parachains and Nexo
Polygon is a multichain network that works on top of Ethereum’s blockchain. It provides the infrastructure to help blockchain networks communicate with each other outside of Ethereum’s primary chain. Following the exponential growth of parachains, it is only right for farsighted platforms like Nexo to modify their services. Therefore, enabling better resources for coins such as MATIC that support the blockchain to give interoperability and scalability to the crypto industry.
The Nexo team employs the Polygon network for various activities aside from increasing MATIC’s utilities through their financial tools. With Nexo’s plans to expand its services into NFTs, Metaverse, and create financial services for the new asset class, Polygon becomes a more valuable choice for them.
Earn MATIC + Promo Rates
Polygon’s MATIC is entering the Nexo platform in a grand style. On that note, users who buy MATIC will get up to 20% daily interest from today until January 3, 2022. Your interest will, however, vary according to your tier and whether you are earning with Fixed Terms or Earn in Nexo. The promo rates for each tier are as follows:
- Platinum: Маximum rate – 20%. Standard rate – 16%
- Gold: Маximum rate – 17%. Standard rate – 13%
- Silver: Маximum rate – 16.25%. Standard rate – 12.25%
- Base: Маximum rate – 13%. Standard rate – 10%
Once the promo ends on January 3, investors will now receive Nexo’s regular rates. Here are the regular rates below:
- Platinum: Маximum rate – 15%. Standard rate – 12%
- Gold: Маximum rate – 14%. Standard rate – 11%
- Silver: Маximum rate – 13.5%. Standard rate – 10.5%
- Base: Маximum rate – 13%. Standard rate – 10%
Borrow Against MATIC + Promo
On the Nexo platform, users can take advantage of the Instant Crypto Credit Lines and borrow cash or stablecoins. Moreover, using MATIC as collateral gives you rates starting from just 6.9% APR. You can borrow as little as $50 and up to $2 million at a time and the requests only take seconds to be approved. To note, no personal information or credit checks is needed and you can repay your balance partially or fully when you can.
Borrow Cashback Promo
Nexo also has a promo for its credit lines. First-time borrowers at Nexo get 0.5% cashback on the amount borrowed, paid in USDC once you open a credit line by November 30, 2021.