Are there any fees associated with using the platform?
Yes, there are fees associated with using the NEXO platform.
These fees are used to cover the costs of running the platform and providing services to users. The main fee associated with using the NEXO platform is a one-time loan origination fee. This fee is charged when a user takes out a loan from NEXO and is calculated as a percentage of the loan amount.
The exact percentage varies depending on the type of loan taken out, but it typically ranges from 0.5% to 5%. In addition to this, there are also fees associated with depositing and withdrawing funds from the platform.
When depositing funds, users will be charged a small transaction fee which is usually around 0.2%. When withdrawing funds, users will be charged a withdrawal fee which is usually around 1%.
Finally, there may also be additional fees associated with certain services offered by NEXO such as currency exchange or cryptocurrency trading. These fees vary depending on the service being used and can range from 0% to 5%.
