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 your Zengo app and tap on the “Actions” button on the main menu.
Select “Trade.”
Now, select BTC and NEXO, then input the amount you wish to exchange.
After ensuring all transaction details are accurate, tap “Confirm.” Zengo will notify you when the transaction has been completed successfully.
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:
The Zengo wallet allows you to buy, sell, trade, send, and receive digital assets, including Bitcoin, Ethereum, Dogecoin, and Polygon. Furthermore, Zengo supports Web3, which allows you to interact with a variety of decentralized applications (Dapps) with its WalletConnect tool.
Zengo offers high security and protection through MPC technology, biometrics, and 3-factor authentication. Moreover, Zengo’s Web3 firewall ensures additional security when interacting with various Web3 Dapps. Find out more about Zengo’s security.
As a non-custodial wallet, Zengo’s wallet gives you complete control over your private keys. Additionally, the app was designed with ease of use in mind, reducing the chance of errors during crypto transfers.
With Zengo, users can trade digital assets at fair and competitive rates. In addition, Zengo does not charge its users for sending and receiving cryptocurrencies, although network fees still apply. As a Zengo user, you can set your own gas fees to improve the experience. Based on your need, you can pay more for a faster transaction or pay less and wait longer. For more information on our custom network fees, click here.
Zengo has a keyless biometric recovery system, which allows you to access your funds even if you lose your mobile device or accidentally remove the app. You can simply download the Zengo app on a new device and sign in again using your facial ID.
Zengo’s dedicated support team is available 24/7, even on weekends and holidays. For any questions or assistance, you can easily call or email the Zengo team. As an alternative, you can refer to our Online Help Center and find commonly asked questions.
Cryptocurrency trading can be exciting, but it also carries risks due to the unpredictable nature of the market. While Zengo offers a safe and secure environment for storing digital assets and allows you to engage with Web3 Dapps, we do not offer financial advice. If you plan to invest in cryptocurrencies or NFTs, make sure you do your research.
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.Â
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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