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Nexo offers three main benefits to its users – high yields, instant exchange, and collateralized loans.
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Borrow instantly against ATOM at rates as low as 0% APR.
Nexo Exchange now supports ATOM, the native token of the Cosmos blockchain. Users can access a range of features designed to enhance their crypto investments.
According to a news release shared with CoinJournal, the integration enables direct fiat-to-ATOM purchases, allowing users to buy the token with cryptocurrency or with fiat via Visa and Mastercard debit and credit cards.
Trading support will launch across three crypto pairs (Bitcoin, Ethereum, and stablecoin Tether (USDT)) as well as fiat currencies (USD, EUR, and GBP).
Initially available pairs include ATOM/BTC, ATOM/ETH, ATOM/USDT, ATOM/USD, ATOM/EUR, and ATOM/GBP, with more pairs planned over time.
Earn up to 11% interest on ATOM
With ATOM added to Nexo, customers of the regulated digital asset platform will have access to a variety of tools and products intended to add value to their portfolios.
Users can buy ATOM and begin earning interest on holdings, with yields of up to 11%. Interest is paid out daily. The exact rate depends on a user’s loyalty tier, with Platinum offering up to 11% and the Base tier offering up to 7%.
Nexo says ATOM holders can increase their yields by choosing a Fixed Term option across three tiers: Silver, Gold, and Platinum. To further boost returns, users can opt to receive payouts in NEXO tokens via the Earn in NEXO feature.
Access ATOM-backed credit
ATOM holders can unlock credit by opening a credit line. What does a standard Nexo credit line offer?
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Rates as low as 0% if the loan is taken with a loan-to-value (LTV) ratio under 20%.
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An allowable LTV of up to 33%.
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Loans starting from as little as $50.
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No credit checks.
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No monthly repayments required.
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No origination fees.
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Near-instant approval and settlement.
Instant exchange
Acquire ATOM by converting other digital assets like Ethereum and USDT instantly and seamlessly on Nexo Exchange.
Nexo also offers a loyalty program that can provide up to 0.5% cashback when purchasing ATOM on the exchange. The Nexo team plans to add ATOM deposits and withdrawals as soon as possible.
ATOM price
ATOM (Cosmos) has traded lower in the past 24 hours as the broader crypto market continues to face bearish pressure. The ATOM/USD pair is down about 3.7% to roughly $26.10, resulting in weekly losses near 17%. This pullback may present an entry opportunity for interested investors.