Since the inception of Bitcoin, the crypto market has created a lot of Millionaires. That’s why nowadays, everyone recommends investing in cryptos. But no one talks about how to select the right crypto. Though platforms like Nexo lets you earn interest on your crypto holdings, you still have to select the cryptos you want to invest in. So in this article, we will discuss the top 5 cryptos to buy in Nexo.
As of March 2022, Nexo allows you to invest in 41 digital assets. And when you buy and hold cryptos in your Nexo wallet, Nexo pays you interest on a daily basis.
And as Nexo pays daily interest, it can be a big motivational factor for new crypto investors.
Cryptocurrencies available in Nexo are already vetted by professionals as Nexo only supports legitimate and top-of-the-class crypto projects.
But investing in 41 cryptos will dilute your position too much if you have a small to medium-size investment corpus.
So here we will list out the 5 best cryptos you can buy in Nexo.
5 Best Cryptos to Buy in Nexo Right Now
#1 Terra USD (UST)
If you are investing in cryptocurrencies via Nexo for the sole purpose of earning interest on your idle crypto assets, then the first crypto that you should buy in Nexo is Terra USD (UST).
Nexo pays an interest of 17% (15% Flex Term Interest + 2% Bonus Interest) on Terra USD. And, as Terra USD is a stablecoin, the loss of principal capital is near zero.
As the Average Interest Rate of a Savings Account in the United States is 0.06% as of March 2022, You can use your Nexo Savings Account like a traditional savings account which pays a far higher interest rate.
#2 Chainlink (LINK)
Chainlink (LINK) is another crypto that every Nexo Portfolio should have. It is included even in our Nexo Portfolio too.
Chainlink network is solving the problem of bringing real-world data into a blockchain.
For example – If a blockchain needs real-world temperature data, they have to use the Chainlink network.
Cryptopedia has a detailed article on how Chainlink works.
Some big crypto networks like Aave, Synthetix, Compound, etc. are already using Chainlink to integrate real-world data into their blockchain. The utility of the Chainlink network is huge.
During the recent crypto bull run, Chainlink touched its all-time high of $52.88.
Nexo pays an interest rate of 5% on holding Chainlink in your Nexo Savings Account and if you are willing to lock up your Chainlink tokens for a certain period, then Nexo will pay you an interest of 8%.
Nexo will also pay an additional 2% interest if you are a Platinum member in Nexo.
Here we have talked about how you can become a Platinum member in Nexo.
#3 Polygon (MATIC)
The next crypto you should buy in Nexo is Polygon (MATIC).
Polygon, previously known as Matic Network, was developed to solve the scaling issue of Ethereum.
Using Polygon, developers can effectively connect one blockchain to another to create what can be called as ‘Internet of Blockchain’.
The main objective of the Polygon project was to securely connect Ethereum based projects.
Big projects like Bancor Network, Aave, Balancer Protocol, etc. are using Polygon Network to scale their projects.
Wallets and Centralised Exchanges (CEX) such as Crypto.com, Binance, Coinbase, etc. are also using Polygon.
You can check out all the 10K+ projects that are using the Polygon network here.
Nexo is paying 14% interest (12% Flex Term Interest + 2% Bonus Interest) on holding Polygon (MATIC) in your Nexo Savings Account.
And if you are willing to lock up your Polygon tokens under the Fixed Term of Nexo, then you will earn a total of 18% interest (16% Fixed Term Interest + 2% Bonus Interest) on your Polygon tokens.
As the price of Polygon (MATIC) is hovering around $1.30 to $1.75 for the last 1 month, it is among one of the cheapest cryptos to buy in Nexo, at the moment.
#4 Avalanche (AVAX)
The next best crypto to invest in right now is Avalanche (AVAX).
Every Nexo Savings Account (or any crypto portfolio for that matter) should have Avalanche in its holding.
To put it simply – Avalanche is a direct rival of Ethereum, the second-largest crypto by market cap in the world.
Avalanche, an open-source platform is addressing some major flaws of Ethereum like slow transaction speed, the high transaction fee (high gas price), etc. using its unique Avalanche consensus protocol.
According to the claims of Ava Labs, the maker of Avalanche – Avalanche network can handle 4,500 transactions per second.
In comparison, Bitcoin can handle only 7 transactions per second and Ethereum can handle 14 transactions per second.
If you want more about Avalanche, here is a video explaining AVAX.
Some big crypto projects that are using Avalanche are Chainlink (LINK), 1inch (1INCH), Aave (AAVE), etc. You can check out the whole ecosystem of the Avalanche network here.
Nexo is paying an interest rate of 11% (9% Flex Term Interest + 2% Bonus Interest) on holding Avalanche (AVAX) in your Nexo Savings Account.
And if you are willing to lock up your AVAX tokens for a certain period, then Nexo will pay you an interest rate of 14% (12% Fixed Term Interest + 2% Bonus Interest).
#5 Near Protocol (NEAR)
Near Protocol (NEAR) is the latest crypto Nexo added to their list of supported digital assets. On 19th March 2022, Nexo added Near Protocol into their list of supported cryptos.
Near Protocol revolves around the concept of sharding.
Sharding is a process where it divides the network’s infrastructure into small segments so that each node (you can think of a node as a single computer) has to compute only a fraction of the data, thus increasing the speed and efficiency of each transaction.
Near Protocol uses its unique sharding mechanism called Nightshade.
Near Protocol is what Ethereum wants to be. But sharding won’t be available on Ethereum until Eth 2.0.
Here is a video from Coinsider explaining more about Near Protocol
From a growth perspective Near Protocol (NEAR) is one of the best cryptos to invest in right now.
Nexo is paying an interest rate of 9% (7% Flex Term Interest + 2% Bonus Interest) on holding Near Protocol in your Nexo Savings Account.
And if you are willing to lock up your Near tokens for a certain period, then Nexo will pay you an interest rate of 12% (10% Fixed Term Interest + 2% Bonus Interest).
Before we end this article, here are some honorary mentions that couldn’t make into the list of Top 5 Cryptos to Buy in Nexo.
Honorary Mentions
Axie Infinity (AXS)
Nexo is paying an interest rate of up to 40% (36% Fixed Term Interest + 4% Bonus Interest) on holding Axie Infinity (AXS) in your Nexo Savings Account.
Generally, you should avoid investing in coins and tokens that are tied to a particular platform, because then the platform risk becomes too high.
But 40% APY is too delicious to stay away from. So you can allocate a small percentage of your portfolio towards Axie Infinity (AXS).
Solana (SOL)
Innovations like Proof-of-History (PoH), short processing time and scalability take the center stage when people talk about Solana.
But we also need to look at the returns Solana (SOL) has generated over time.
From January 2021 to September 2021, within 9 months, Solana has generated 100x returns for its investors.
Though past performance shouldn’t influence our investment decision, looking at this kind of return, one should have a certain percentage of their crypto portfolio in Solana (SOL).
Cosmos (ATOM)
The Cosmos (ATOM) team aims to create a web of blockchains where each blockchain can communicate with the other, effortlessly.
The real-life implications of such technology could be huge.
Cosmos has a very well written article explaining the workings of Cosmos.
Nexo is paying an interest rate of 10% (8% Flex Term Interest + 2% Bonus Interest) on holding Cosmos (ATOM) in your Nexo Savings Account.
And if you are willing to lock up your Cosmos coins for a certain period, then Nexo will you an interest rate of 13% (11% Fixed Term Interest + 2% Bonus Interest).
Nexo Tokens (NEXO)
Nexo tokens are native to the Nexo platform and if you want to avail all the perks of a Platinum member in Nexo, then you have to hold at least 10% of your Total Portfolio Value in Nexo Tokens (NEXO).
But we are recommending Nexo tokens for a different reason.
As more and more people invest in crypto and Defi, the lending and borrowing business in crypto will grow too.
And crypto lending and borrowing platforms like Nexo, BlockFi and Celsius will be a direct beneficiary of such a trend.
Nexo is paying an interest rate of 7% on holding Nexo Tokens (NEXO) in your Nexo Savings Account. And if you are willing to lock up your Nexo tokens for 12 Months, then Nexo will be paying an interest rate of 12% on your Nexo Tokens.
Aave (AAVE)
Aave is Liquidity Protocol, where you can lend and borrow cryptocurrencies and you can build dApps on Aave.
You can think of Aave (AAVE) as a decentralised Nexo and you can build applications over it.
And Aave tokens are reward and governance tokens in the Aave platform, which is similar to Nexo tokens.
Aave has $21 Billion locked in liquidity as of April 2022.
But the catch is, as of April 2022, Nexo doesn’t pay any interest on holding Aave in your Nexo Savings Account.
By the time you are reading this article, if Nexo starts paying interest on holding Aave, we would recommend you consider investing in Aave (AAVE).
That’s it for today.
We hope you liked this list of top 5 cryptos to buy in Nexo.
If you found this article helpful, do Upvote us using the Upvote Button below. It motivates us to make more such articles.
And if you have any questions regarding any of the cryptos that we talked about today, do let us know in the comment section.
We will try our best to clear your queries.
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And as usual, in the end, we will say –
Good Luck and Happy Investing! 😊
Disclaimer: The views, investment tips, presumptions, and calculations expressed on Moneypremier.net are not of the website or its management. This article is for Educational Purposes only. Moneypremier.net advises users to check with certified experts before making any financial decisions.
Ownership Disclosure: People associated with Money Premier (https://moneypremier.net/) have stakes in the Cryptocurrency/ies discussed in the above article.
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