How to Make Passive Income with Your Idle Crypto?

Due to the volatility of the cryptocurrency market, many investors believe that investing in it will yield high rewards in the long run. A fantastic approach to making your money work for you is to earn passive income on your idle crypto assets.

While there are several methods to make money passively with cryptocurrency, utilizing Nexo is by far the most lucrative. In writing this article, we prioritized in-depth research and analysis over everything else. Using Nexo, you may make a passive income with an APR of up to 16%. With that said, let’s get to the good stuff: how to make money with your own cryptocurrency.

How To Earn Passive Income On Nexo

Step 1: Create An Account

The first thing you’ll need to do on Nexo, like with any other platform, is to register an account. Because Nexo has such a basic and simple-to-use UI, this shouldn’t be too difficult. First, check whether Nexo is accessible in your country. 

Then, go to the official Nexo website and click on “Create Account” in the upper right corner. After that, input your information and ensure that you complete the captcha and validate your email address. Now your Nexo account should be ready. Furthermore, before proceeding, ensure that you have verified your identity.

Creating an Account wit Nexo.

Nexo Account Interface. Source: Nexo

Step 2: Fund Your Account

To begin with, you’ll need to add funds to your account. You can see all of your deposit options by clicking on the “Account” page and scrolling down. Then click on the one that grabs your interest. Copy the Deposit Address and take it to your preferred cryptocurrency exchange, in this case, Binance.

Navigate to “Withdraw Crypto” on your Binance account, and select the asset you wish to transfer to Nexo. After that, paste the address and complete the transaction. In addition, you’ll have to pay blockchain fees. As soon as your transaction is completed, you’re all set! 

If you prefer, you can easily buy crypto directly from Nexo with a credit or debit card, as well as via wire transfer.

Creating an Account with Nexo.

Creating an Account with Nexo. Source: Nexo

Nexo Rates

With Nexo, you’ll be able to accumulate lucrative passive income. However, Nexo requires that 10% of your savings account be held in NEXO tokens in order to receive a maximum of 12% interest rate on your stablecoins and a 16% interest rate on your crypto assets. Unless you meet this requirement, you will only be paid interest at the regular rate. Also, the interest rates on Nexo’s Stablecoins and FiatX are some of the highest on the market.

Nexo’s high-yield interest service allows you to add or remove assets whenever you desire. In addition, it does not impose any restrictions on the size of transactions or collect any fees. 

Nexo’s native token NEXO, increases interest rates by 2% for all users who choose to earn in NEXO.

Nexo Loyalty Program

Each member of the Nexo Loyalty program has access to several tiers of rewards according to how many NEXO Tokens they have stored in their Nexo wallets, which are bundled in their Portfolio Balance. The loyalty tiers are Base, Silver, Gold, and Platinum.

At the base level, you do not need to have any NEXO tokens. The higher tiers, on the other hand, demand that you have NEXO tokens. NEXO tokens must account for 1% of your balance in Silver, 5% in Gold, and 10% in Platinum. The Loyalty program is intended to assist you in both the short-term and long-term development and management of your financial assets, giving you many benefits along the way.

Nexo Cards

In addition to Nexo’s existing Instant Crypto Credit Lines, the Nexo Card lets customers make ordinary transactions on the move without having to give up their digital currencies for the sake of convenience. Users can use their virtual Nexo Card right away and then get a physical one. The virtual card works just like a real card when attached to Apple Pay or Google Pay.

As a result, Nexo provides fiat currency that may be spent and, in exchange, you offer crypto as a kind of collateral for return. All of this occurs automatically anytime you use your Nexo card. In the same way as any other card, you may use your Nexo card to buy anything you want. When you acquire your Nexo Card, you’ll start earning immediate crypto benefits on each and every purchase, given out in Bitcoin (BTC)  with up to 0.5% or NEXO Tokens up to 2%.

Frequently Asked Questions (FAQ)

Why Should I Earn With Nexo?

Nexo provides several solutions for rapidly growing your portfolio while keeping your cryptocurrency safe. Nexo is worth a try because it has a lot of incentives, awards, and features, such as daily payments, flexible earnings, top-tier insurance, and no hidden fees.

What Tokens Does Nexo Support?

Nexo has more than 40 assets that you can use to make passive income. Nexo includes some of the most well-known cryptocurrencies, and the rates are great. On Nexo, you can use Bitcoin, Ether, Tether, XRP, Tron, and even Nexo’s own token, NEXO, to earn passive income.

Is Nexo Available In My Country?

Nexo supports most jurisdictions in the world but some of their product might be limited in certain countries.

Takeaways

  • A fantastic approach to making your money work for you is to earn passive income on your idle crypto assets.
  • Using Nexo, you may make a passive income with an APR of up to 16%.
  • Nexo starts collecting interest as soon as an asset is deposited into your Nexo account.
  • Users who opt to earn in Nexo’s native token NEXO see a 2% increase in interest rates.
  • The Loyalty program is designed to help you manage your financial assets over time while offering you several rewards.
  • With the help of Nexo, earning passive income with crypto has never been easier.