Regulated crypto lending platform, Nexo, has announced the listing of Cosmos’ ATOM crypto. To celebrate the launch, Nexo is giving its users exciting offers. Users of Nexo can now buy, convert and stake ATOM. Additionally, holders of ATOM stand a chance to earn when they buy or stake their assets. Nexo explained that the decision to add ATOM to its list of assets is due to its increasing popularity due to the adaptability and flexibility of the Cosmos network.
Cosmos stands out for going beyond supporting interoperability through cross-chain bridges. It provides the infrastructure for seamless communication across multiple chains. This kind of interchain support continues to attract many projects to Cosmos because it breaks many barriers across blockchains. For instance, LUNA, BNB and Terra’s adoption of the Cosmos IBC are some of the projects created using Cosmos SDK. Furthermore, Cosmos is upgrading its support platform for Theta and Rho ecosystems.
How to leverage ATOM’s launch on NEXO
Nexo users who buy ATOM using their VISA or Mastercard will get 0.5% cashback on the transaction cost on their wallets. Furthermore, you can convert ATOM to other cryptos or vice versa on Nexo. Currently, there are six assets tradable using ATOM. They include GBPx, EURx, ETH, BTC, USDT and USDx.
Those who lock up their ATOM assets stand a chance of earning up to 11% p.a interest, depending on their membership tier on Nexo. Platinum Tier will earn you the maximum rate of 11% p.a. against the standard rate of 8% p.a.
Gold Tier earns at a maximum rate of 9% p.a., higher than the standard rate of 7%, Silver Tier generates a maximum 0f 7.75% p.a. against a standard rate of 6% p.a. Finally, the Base Tier will earn you 7% p.a. against the standard rate of 6%. To qualify for maximum rate earnings, one should lock their ATOM for a fixed term. Alternatively, if you are on the Silver, Gold or Platinum tier, you can obtain maximum earnings by choosing to earn interest in NEXO.
Nexo is offering a credit line for ATOM holders, which will see them, borrow for as low as 0% p.a. and a Loan to Volume percentage under 20%. The Platinum and Gold tier users will benefit from borrowing at the lowest interest rates of 0% if they borrow at an LTV under 20%. The loan application and approval processes are simple and are completed within seconds. Furthermore, Nexo is giving a minimum borrowing amount of just $50%, with no origination fees and no credit checks. Also, there are no monthly repayments on the credit line.
Cosmos is a fast-growing ecosystem of more than 260 interconnected apps and services, with over $320 billion worth of digital assets. Cosmos apps and services connect using Inter-Blockchain Communication (IBC) protocol. You can freely transfer assets and data among decentralized blockchains using this technology.
Latest ATOM News Today
At the time of writing, ATOM was trading at a 24 hour high of $26.21 after gaining 0.08%. Nonetheless, the crypto is in a precarious position, considering that it momentarily went below the two-week support at $26.00 to register a low of $25.37.