(https://3mgj4y44nc15fnv8d303d8zb-wpengine.netdna-ssl.com/wp-content/uploads/2019/03/Litecoin-Now-Available-as-an-Option-on-Nexos-Instant-Credit-Line-696x449.jpg)
As a result of a poll, Nexo is listening to the voice of the people, by including Litecoin as the latest collateral alternative as a part of Nexo’s line of instant credit.
This new development is the 6th addition to other existing collateral options such as Nexo, BNB, XRP, BTC, ETH etc. while the Annual Percentage Rate is 16% for loans backed by other cryptocurrencies, it is brought to 8% if Nexo is utilized.
WHY LTC
Litecoin (LTC) has made a name for itself over time in the cryptosphere, it’s adoption and transaction speeds have made it the 5th biggest cryptocurrency, and 4th largest altcoin.
LTC journey began in 2011 by Charlie Lee, it’s structure is designed on a permissionless and very decentralized system. It’s transactions are privacy-prioritized, cheap, instant and functions with disregard to typical international financial barriers.
Litecoin has reached $61.56 going up by 0.9%, raising its market cap to $3.78 billion.
LTC has always been focused on the use of its token decentralized structure as a means of inclusion and global financial freedom. This mission makes them a perfect choice for the inclusion in Nexo’s collateral options.
What The LTC Inclusion Means For Investors
This inclusion would permit holders of LTC to borrow cash with their assets as collateral, as opposed to selling these assets outrightly when in need of cash instantly.
This inclusion considerably increases the utility of LTC, reduces HODLing and selling pressures.
Very importantly, the inclusion as lines of credit significantly improves the efficiency of the tax system.
Some advantages of NEXO’s most superior credit line system include:
- Local bank withdrawals on the same day
- Funds are insured by Bitgo, worth $100 million for cryptocurrencies.
- Loans ranging from $500- $2 million
- 8% interest only on used funds
- Instant approvals, without credit checks
- Available in over 200 jurisdictions around the world.
- Tradeable with 45 fiat currencies
- No fix transaction fees nor hidden fees.
Earn Interest
“Earn interest” has been proposed to reward investors with as high as 6.5% interest on stablecoins they hold, this product is open to investors in all available jurisdictions worldwide. In addition, there is no period when funds are locked or unretrievable.
source: https://bitcoinexchangeguide.com/litecoin-ltc-cryptocurrency-now-available-as-an-option-on-nexos-instant-credit-line/