Blockchain And Cryptocurrency Provider

Nebeus Review 2021 :Crypto-backed loans and savings accounts

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Nebeus Honest Platform Review: Is It Worth It?

There are countless underbanked and cash-strapped individuals looking for a way to make a worthy investment. Cryptocurrencies have long been an enticing financial opportunity to secure valuable digital assets. Crypto lending opens excellent opportunities for HODLers.

Besides, there is no need to sell your own crypto when the price is too low. You can still boost your digital financial assets with crypto-backed loans. Nebeus is one such financial service based in the UK that enables cryptocurrency holders to get a hold of quick cash, without having to liquidate their own assets. Previously we did an in-depth review of BlockFi, another crypto savings and loans company. In this review, we’ll be looking at Nebeus and the services it offers so you can see if it’s a suitable option for you.

Nebeus Review - All You Need to Know

Nebeus platform is managed by Money-4 Ltd, a London based firm. The loan service provider is Rintral SL, based out of Barcelona, Spain.

The Nebeus online platform claims to provide users with debit cards that can convert crypto into actual cash at any post office nearby. One of its key selling features is that people can take as much as $1,500 in a day at insanely cheap fees.

This creates the perfect opportunity for building up a savings account or securing assets for a worthwhile investment. Clients get access to:

  • Cryptocurrency Exchange
  • Bitcoin Loans
  • Crypto-Debit Cards
  • Secure vault
  • Crypto savings account

Here, we will take a closer look at some of the most important features that Nebeus provides.

Crypto Savings Account

Individuals who invest in cryptocurrency, usually save their digital assets and wait for the selling prices to increase. But, since the price fluctuates frequently, these digital assets can lose their value just as quickly as they got it. It can drop in two days, as seen with the current events in March 2020, published by CNBC.

When trying to make a profit, people are selling crypto when it spikes in value, therefore, losing their potential for investment.

With Nebeus, users have access to crypto savings accounts that they can use to earn some profit in many ways. The lending service borrows fiat against the crypto value already deposited in investment and savings accounts and gives the cash to their clients.

They don’t hold the cash, their partners do. Due to its effective business model, the company is more than capable of offering better interest rates than some competitors. They offer an 8.25%% interest rate and require a minimum of 0.06 BTC or 0.3 ETH.

Crypto-Backed Loans

Nebeus provides clients with numerous crypto-fiat services in more than 90 different countries. Those interested can make the most of their secure and fast loan program. With their crypto-backed loans, clients can convert any of their digital currency into cash and still keep using their digital currency.

The way it works is relatively simple. If you want to secure a loan through their online platform, you first have to use your digital currency as collateral. Then, you wait to get a match for a probable lender and get fiat directly to your account.

Though it’s a much slower process than taking out a regular loan, it could come in handy if you want to use the value of your crypto holdings without having to sell them.

Crypto Debit Cards

With Nebeus crypto-debit cards, users can convert their digital currency to fiat on any ATM machine. This is a very practical option that many crypto-enthusiast have praised over the years. These cards come with a set of perks such as 3% cash-back paid every month and no transaction fee.

To top it all off, this program works in more than 3 million ATMs across 150 different countries. That’s plenty of coverage for practical use.

Signing Up

The sign-up process on Nebeus is exactly the same as any other site. You just add your email and name, pick a country, and enter a passcode. This is simple. The verification process is where it gets tricky. You will have to verify the account via SMS, fill out a form, and attach a utility bill; then you are good to go.

How To Apply For A Loan?

Applying for a loan is a straight-forward process. You just need to:

  1. Go to their platform and select the tab “Issue a Loan”.
  2. Select the button “Create Loan Request
  3. Select “Loan Request
  4. Fill out a form

Bear in mind that all the terms you will add to the form will be displayed to potential lenders. So, it’s essential to add as much information as necessary to craft the form to fit the lenders. This will increase your odds of getting a loan.

Conclusion

This is a handy platform for investing in crypto-assets, but it’s not without its flaws. The account verifying process takes a while and clients have to wait to get a loan. Loan approvals depend on the number of lenders ready to take a risk and sometimes can take months. But, overall, it’s not a bad platform for crypto-services.

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Amna Eltawil

Amna Eltawil

Amna Eltawil is an Egyptian journalist. Through her years of journalism, she has worked for top publications and organizations like John Maxwell organization, the International Herald Tribune, and Al Wafd.

She also worked for the largest media network in the middle east: MBC on a full-time basis.

When she is not working, Amna can probably be found in bed with a book cuddling with her beloved Siberian Husky.

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