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Swapping Bitcoin (BTC) to Nexo (NEXO) has never been easier, thanks to Zengo. In just a few moments, you can securely swap your BTC for NEXO or the other way around.
Bitcoin (BTC), a revolutionary digital currency, was first launched in October 2008 by the enigmatic Satoshi Nakamoto. BTC has since become the most widely recognized cryptocurrency worldwide. It operates on its own blockchain network, is decentralized, free of government or bank oversight, and can be sent directly from user to user. Bitcoin, an open-source and public-domain cryptocurrency, uses a proof-of-work algorithm for new coin validation and can be mined via complex mathematical problems.
The Nexo (NEXO) token is a unique cryptocurrency that operates on the Ethereum blockchain as an ERC-20 token. It’s the native token of the Nexo platform, a service that offers crypto-backed loans and high-yield accounts for digital assets. The NEXO token serves a dual purpose: it grants holders access to the Nexo Loyalty Program, which offers a range of benefits, including preferential borrowing rates and better yield rates. Initially, the token was used to provide dividends to its holders, but in 2021, Nexo transitioned to a Loyalty Program. This change was significant as it allowed Nexo to adapt to evolving regulations in the crypto space and offer more flexible benefits to its users. As an ERC-20 token, NEXO cannot be mined, and its supply is predetermined.
To swap Bitcoin for Nexo using Zengo, first, download the Zengo application from either Google Play or the Apple App Store. Install it and verify your identity to set up 3-factor authentication.
Once your Zengo account is ready, follow the steps below to swap your BTC for NEXO:
Open the Zengo app and tap on the "Actions" button in the main menu.
Click on "Trade."
Now, select BTC and NEXO, then input the amount you wish to exchange.
Confirm your transactions and wait for the Zengo notification that acknowledges the completion of the trade.
Zengo offers a secure and intuitive platform to trade BTC for NEXO. Here are a few reasons why so many traders trust Zengo with their crypto and NFTs:
Zengo’s Web3-ready wallet allows users to buy, sell, trade, and swap a wide range of cryptocurrencies, including everything from Bitcoin and Ethereum to Dogecoin, Chainlink, and Shiba Inu. On top of that, you can also store your NFTs and connect to marketplaces such as OpenSea, Uniswap, or other Dapps via Zengo’s WalletConnect feature.
Zengo provides a keyless and highly secure environment for your crypto assets. Thanks to MPC technology, you can access your account using biometrics and a 3-factor authentication instead of traditional, easy-to-hack keyphrases or passwords. Zengo also offers a robust Web3 firewall to ensure safe interaction with various Dapps.
As a non-custodial wallet, Zengo offers complete control over your private keys, guaranteeing safe and easy access to your digital assets. The Zengo app has been designed to be intuitive and easy to work with, reducing the risk of costly human errors or accidents when sending funds from place to place or swapping cryptocurrencies around.
There’s no need to worry about costly trading fees with Zengo as it offers competitive trading fees for a wide range of digital assets. In addition, Zengo doesn’t charge any added transaction fees to send or receive cryptocurrencies. However, you will still need to cover gas fees. You also get to choose how much gas you’d like to pay with Zengo. Pay more for faster transactions, or save money if you’re not in a hurry. More information on our custom network fees can be found here.
With Zengo’s advanced biometrics and keyless recovery system, you can easily regain access to your funds even if you lose your device or delete the Zengo app. To recover access, simply download the Zengo app onto a new device and regain access to your account using your facial biometric ID.
Zengo offers round-the-clock customer support, ready to assist you anytime. Our staff are on-hand and standing by 24/7, and that includes weekends and holidays. You can start up a chat with our helpful team members via the Zengo app at any time, whenever you need a helping hand, or if you have a question about how Zengo works. In addition, if you have a question that is more general in nature, you can also check out our Online Help Center for FAQs.
Making investments and trading in cryptocurrencies is something that can be quite exciting. However, cryptocurrency markets are mostly unregulated and highly volatile. While Zengo provides a secure way to access Web3 and DeFi, it does not offer its users any financial advice. Always do your own research before investing in any form of cryptocurrency or NFT.
In case you still have questions on the subject of swapping BTC to NEXO with Zengo, take a look through the FAQ section below.
Bitcoin (BTC) and Nexo (NEXO) tokens offer unique value propositions and operate on two distinct types of blockchain technology. Bitcoin, as the first successful and most well-known cryptocurrency, operates on its own dedicated blockchain (the Bitcoin blockchain) using a proof-of-work consensus algorithm. Its decentralized nature allows for direct peer-to-peer transactions, bypassing traditional financial institutions, and its coins can be mined through complex mathematical problem-solving. On the other hand, NEXO, an ERC-20 token, operates on the Ethereum blockchain and primarily serves the Nexo platform users by granting them access to its Loyalty Program, offering preferential borrowing and yield rates. Unlike Bitcoin, NEXO tokens can’t be mined, and their total supply is fixed and predetermined. While both offer a form of digital value, their utility, supply mechanisms, and underlying technology are fundamentally different, showcasing the broad spectrum of use cases within the cryptocurrency world.
Swapping BTC for NEXO means you’re exchanging your Bitcoin assets for Nexo tokens, or vice versa, using Zengo’s trade feature. Zengo ensures the safety and security of this process.
In order to trade and store tokens like BTC and NEXO, you will require a reliable and secure cryptocurrency wallet. The Zengo wallet is the ideal choice as the most secure and convenient option for trading and storing cryptocurrencies like Bitcoin, Nexo, and more. It also supports the storage and trading of countless other cryptocurrencies, like SHIB and LINK, with highly competitive fees.
Yes, there are minimum trading amounts, but they can vary based on market conditions and the assets being traded. You can log into the Zengo app and choose a trading pair to see the latest minimum trading limits for this specific pair. To learn more about Zengo’s fees and limits, click here.
With the Zengo non-custodial crypto wallet, it’s possible to swap Bitcoin and Nexo for a large range of cryptocurrencies, including both major cryptocurrencies and altcoins. Examples include the likes of ETH, USDT, LINK, DOGE, MATIC, SHIB, XTZ, ALPHA, and MANA. Market conditions and liquidity can have an impact on the availability of certain pairings. To check on this, open the app and select the tokens you wish to trade.
Yes, Zengo doesn’t impose any kind of restrictions regarding sending crypto to external wallets. It gives you complete control over your crypto funds and investments. To send money to another wallet, just log into your Zengo app and navigate to either Bitcoin or Nexo from the home screen. Pick the token you want to send, then tap on “Actions,” and then on “Send.” Enter the amount you wish to send, along with the destination address, and follow the instructions to finish the transfer. Remember, you will need to cover network gas fees.
You’ll receive a notification from Zengo once your trade is completed. You can also check the status within the app’s history section. When it is done, it should be listed as “Swap Received.” instead of “Swap Pending.”
Yes, you can purchase both BTC and NEXO through Zengo using various payment methods. To do this, just open the Zengo app and tap the “Actions” button. Tap on “Buy” and select the desired token you wish to buy. Thanks to Zengo’s fiat-to-crypto on-ramp gateway, it’s possible to buy a wide range of cryptocurrency tokens using fiat currency. Supported payment methods include MasterCard, Visa, Apple Pay, and bank wire transfers.
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