Just making sure I'm doing this right.. today I got

Question

Just making sure I'm doing this right.. today I got

my first "repay option" for the recently delivered nexo card.
Wan't to make sure I tkae advantage of the 0% interest offer. so am I calculating this right:

Your outstanding loan is $236.44
Total in Credit Line Wallet: $2,432.69
So: (236,44/2432,69)*100=~9,72% LTV, so well below the required 20% LTV for 0% interest.. right? :)

#cryptocurrency #english #nexo

0

25.04.2022

6 ответов

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Helge Автор вопроса

Hmm, yeah I see the help for a loan, but how is this for the nexo card?

0

25.04.2022

Peter | Nexo | No support via DM

Helge
Hmm, yeah I see the help for a loan, but how is th...

Your card uses the same credit wallet. so if you have the option enabled it will apply for the card purchases as well.

0

25.04.2022

Helge Автор вопроса

Peter | Nexo | No support via DM
Your card uses the same credit wallet. so if you h...

Yeah, but the 0% option is something you choose when taking out a loan afaik, not a global option. Or is it automatically 0% when using the card as long as you are platinum and you keep LTV below 20%?

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25.04.2022

Peter | Nexo | No support via DM

Helge
Yeah, but the 0% option is something you choose wh...

In order to benefit from 0% or 1.9% APR when making purchases with the Nexo Card, you can enable the “Purchase with 0% APR” option from the Card Settings menu inside the Card tab on the mobile app. Once enabled, we’ll automatically transfer just enough collateral to your Credit Line wallet to keep your LTV below 20% – provided you have enough assets in your account.

0

25.04.2022

Helge Автор вопроса

Peter | Nexo | No support via DM
In order to benefit from 0% or 1.9% APR when makin...

Silly me, I have found that option before indeed 😐 However, I wasn't aware that nexo will auto maintain 20% LTV. Thats quite nice, then I guess I could put all my nexo tokens in creditline wallet (since it earns interest then also), then leave some amount of other coins out of fixed terms and let nexo handle the 20% LTV. That would maximize the interest earn because as of now I moved enough funds over to credit line wallet to make sure I stay below 20% LTV for a normal months credit card usage = lost interest during most of the month. Follow up question though, does nexo move funds back to saving wallet? I assume thats a manual operation.. For example LTV comes up to 19% nexo moves funds over to credit line wallet to keep below 20%, then I repay the loan, so LTV drops to 0% what happens to the funds nexo moved to credit line wallet?

0

25.04.2022

Peter | Nexo | No support via DM · Accepted Answer

Peter | Nexo | No support via DM

Yes, that is correct. Just make sure you have the 0% loan option enabled.

0

25.04.2022

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