Is it safe to keep my funds in Nexo ?

Question

Nexo Community

Billy Rich

Is it safe to keep my funds in Nexo ?

#cryptocurrency #english #nexo

0

03.07.2022

7 ответов

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Billy Rich Автор вопроса

PaulyD
So long you're sensible, but yes - ultimately I wo...

I feel that way but I do not undersrtant the intricacies of bank licences and what it could mean for holding my assets on nexo, in addition, I have heard that other CEFI projects were supposedly overcollateralised but that did not mean you were safe...

0

03.07.2022

PaulyD

Billy Rich
I feel that way but I do not undersrtant the intri...

Are you in the US?

0

03.07.2022

PaulyD

Billy Rich
I feel that way but I do not undersrtant the intri...

Not all CeFi are over collaterlised and not all did the right thing with their collateralisation. But Nexo is the only one with a live attestation and has continually shown they can make it through this market.

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03.07.2022

Billy Rich Автор вопроса

PaulyD
Not all CeFi are over collaterlised and not all di...

I have taken a look at the Amanino Report and it does not reveal alot of information just says Cosumer Liabities are 100% collateralised but doesn't give much more than that, it doesnt show how much cushion there is ?

0

03.07.2022

Gene Vexo⚡️

Billy Rich
I have taken a look at the Amanino Report and it d...

It's still unprecedented to have this level of transparency in CeFi: a renowned independent auditor attesting that Nexo is indeed able to meet all customer obligations in real-time. Antoni Trenchev also said, during the latest AMA, that the excess is in the "triple-digit $millions". Finally, the thing that excites me the most is that it was previously announced that we will be able to verify for ourselves that our particular assets are included in the daily reports. https://nexo.io/media-center/nexo-passes-real-time-reserves-audit-conducted-by-armanino Understandably, to achieve this it takes a lot of work, but Armanino has also taken the Twitter feedback on board and stated that the next updates in the proof of reserves will address these exact critiques.

0

03.07.2022

Billy Rich Автор вопроса

Gene Vexo⚡️
It's still unprecedented to have this level of tra...

That is great to hear, and I watched that AMA and I recall them saying the excess collateral is triple digit millions - I am just just trying to see the proof for myself, I would prefer this, if possible, was confirmed by Amanino or some way of seeing the rate of change of the collateral to liabilities ratio. Perhaps it is commercially sensitive to reveal such information, I am not sure.

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03.07.2022

PaulyD · Accepted Answer

PaulyD

So long you're sensible, but yes - ultimately I would say you are safe. Nexo is fully collateralised and has a significant future in the CeFi space.

0

03.07.2022

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