Have you ever considered investing in cryptocurrencies? If so, you're far from alone.
Did you know that there are more than 3,000 cryptocurrencies on the market today? And they're worth in excess of $300 billion? That's a massive market value.
How big are we talking? A market so big it outperforms Oracle and IBM combined!
Of course, the rapid growth in the crypto world has come with its own share of problems. For starters, it can feel intimidating to sort through all the platforms, trying to find the right one for you.
How do you select the right exchange for your current financial needs? It starts with some research and a clear understanding of different platforms. With that in mind, let's take a closer look at one such platform, Nebeus.
Crypto News: What Is Nebeus?
In keeping with the rising popularity of cryptocurrencies, there's been a boom when it comes to products that bridge the gap between traditional financial markets and digital assets. More continue to appear on the forefront every day
Why are people so interested in crypto-backed loans? Because these loan services permit them to use cryptos such as Bitcoin as collateral for a fiat currency loan.
This is where Nebeus comes into play. This platform permits consumers to apply for and receive crypto-backed loans that are instant. The company also offers various crypto-fiat financials services worldwide.
Nebeus Crypto Services
Established in 2014, the platform has grown significantly in recent years. It provides a range of crypto-related services. These services include:
- Savings account
- Crypto-backed loans
- Cold storage
- A wallet
- Ability to buy and sell conveniently and quickly
But is this platform worth taking for a spin? Here's what you need to know about Nebeus before making any final decisions.
The Rising Popularity of Crypto-Backed Loans
What's one of the reasons so many customers are now turning to Nebeus to handle crypto-backed loans? The platform is hassle-free and easy to use. It lets users transfer fiat directly to their cards in little more than a couple of minutes.
How does it work? To get started, you'll need to open a Nebeus account, which takes a few minutes.
Opening an account is free, and the application process proves streamlined. You'll be pleased to know that paperwork needs also prove minimal, unlike traditional loans.
Which cryptos does Nebeus accept as collateral for loans? They include:
What are some other things that you need to know about its loan features and options?
Benefits of Taking Out a Loan Through Nebeus
With Nebeus, you'll enjoy a substantial loan-to-value (LTV) ratio. How low are we talking? Its lowest comes in at 72 percent and climbs to 80 percent, among the highest LTV ratios on the market.
Nebeus also provides plenty of flexibility for users. For example, you can select different length terms, and yet these sections won't impact the interest rate associated with the term of the loan.
This flexibility allows individuals to choose lengthier terms for long-term loans. It also enables them to repay the entire value of the loan at their convenience without any concerns about pre-payment penalties.
Nebeus's Loan Health Monitor Means Peace of Mind
What else will you come to love about the Nebeus platform? It boasts a Loan Health Monitor function that all users receive access to use. What does this monitor do?
It allows investors to gather live data about the condition of their loans. This ability provides peace of mind, especially since users can keep tabs on their loan's health in relation to the collateral they've posted.
In other words, if you find yourself in the unenviable position of watching your collateral's value take a nosedive, you'll be well-positioned to act immediately. Quick action proves critical in the highly volatile crypto world, and so we love this feature.
Owning a Nebeus Savings Account
The value of savings accounts has dropped off dramatically over the years. What's more, COVID-19 has done little to help the situation. According to some recent reports, some banks have even started charging negative interest to customers!
What does this mean? Instead of the bank paying you a small amount of interest for the use of your money, now some banks want to charge you negative interest rates.
In other words, they want to charge a fee for you to be the custodian of their money. Just when you thought it couldn't get any more unfair!
The 2020 Economy and Crypto News
What's more, the economy has been stretched in ways never thought impossible this year. The result? Higher inflation as global governments continue to abuse their money-printing powers.
These efforts not only devalue fiat currencies, but they also make savings account worthless. For these reasons, more people continue to turn away from traditional banking toward blockchain and crypto investment.
How does Nebeus fit into the picture?
They offer savings accounts with up to 8.25 percent annual interest. These accounts can be deposited directly into their accounts in euros each month. You may choose to have this money compounded or withdrawn.
Nebeus platform offers two savings options, which you can take advantage of. One is based on the length time you'll like to keep your account open. The other is based on the amount of crypto you need.
Buying and Selling with Nebeus
What's so convenient about using Nebeus for your buying and selling? Users may replenish their account using a credit card. What's more, your money should arrive within five to ten minutes after your initial request. It doesn't get much speedier than that.
The ability to rely on a credit card to fund your crypto wallet is a brilliant idea. You can place funds on your card that came directly from your Nebeus account. Either way you slice it, you'll enjoy a streamlined sense of freedom.
Nebeus Platform: Is It Right for You?
At this point, the Nebeus platform may sound attractive to you. But is it the best decision for your unique financial situation? That depends on many different factors.
You need to do your homework, educating yourself about the crypto world along the way. As you research platforms with care, finding the best one for your needs will become more apparent.
When it comes to finding a great platform, look for a platform boasting a high loan-to-value (LTV) ratio, like Nebeus. What's more, the platform should prove easy to follow and find your way around.
Nebeus Platform Security
Before placing any money in a crypto platform wallet, you should thoroughly explore the security measures being taken by any company you're considering working with.
After all, you stand to lose everything from funds to personal data if you don't vet each company carefully.
Which safety measures has Nebeus taken to ensure its users' security? They include:
- Password protection
- Two-factor authentication
- A unique PIN for all withdrawals
You should also understand that users may not withdraw large amounts of money at any given time without getting a manual verification from the Nebeus team.
Users can't change their wallet addresses, either. Even for security reasons.
Pros and cons of Nebeus
- A good option for European-based customers
- Can top-up directly with debit and credit cards
- UI has bugs such as their verification section is unusable (use chat instead) etc.
- Wallets aren't insured unlike competitors
Compare with Nebeus alternatives
Similar Savings Accounts and Loans
Frequently asked questions about Nebeus
We’ve compiled some answers to questions we often get. Should you have any other questions, feel free to reach out below in the comments.
Where is Nebeus based?
Nebeus is based in London, UK
Is Nebeus safe to use?
Nebeus is a relatively new company. They offer overcollaterlized loans which generally makes them a fairly safe bet but we wouldn’t recommend investing any more than you can lose.
Limitations Associated With Nebeus
Nebeus represents an attractive option for many consumers, particularly in Europe. Of course, there are constraints with the platform, including a limited selection of cryptos when it comes to loan solutions.
If you don't mind these restrictions, however, you'll be pleased by the company's LTV rates and the higher interest you'll receive on savings. After all, Nebeus proves to be a well-rounded platform.
It includes plenty of helpful and exciting services that many consumers swear by. As for the loan-to-value ratio on its products, it sits among the highest in the industry.
Research Crypto Platforms
As you can see, there's a lot you must consider before deciding on the best crypto platform. But Nebeus is certainly an excellent place to start.
The platform is simplified and easy-to-use. For this reason, it won't intimidate beginners. That said, once you gain a through grasp of how crypto investing works, you'll want to spend time at sites with more functions, features, and capabilities.
Coupled with their conscientious security standards, you can rest assured your assets remain safe and secure with Nebeus.
Are you interested in learning more about the blockchain or the crypto world? Check out some of the most popular platforms in the blockchain world now.