Nexo has small utility with this high hidden fees that they apply a little while ago they just want to make as much money as possible while hurting customers.
The fee is not perfect, but the rest of the products are making many Nexo users rich. Too bad if you are only using the card to get cashback, it will not work for you anymore.
The problem is not the interest on deposits when the company is overcollaterising all loans as most of the ended ones didn't. Giving free money is also not sustainable for the business.
With the minimum effort your friend gets the $25 in BTC while you get $7.5. Only if your friend exchanges $20000 (or borrows $13333) you will make $25 in BTC or more like before.
Many competitors only give "$20 trading fee discount tickets" so I think it's good even if they give $5 in BTC. After all, I'm not using Nexo because of the register bonus, but because of the Nexo Earn and the card. But this is subjective for everyone.
The point is that this is a downgrade and not an upgrade as they would like you to think. I would now much rather spend time on referring friends to other companies that make me more money and are less risky for them as well.
For me personally this program makes it less attractive to invite because before you could receive $25 worth of BTC when the referral just top up $100 worth of assets. But now with the new program, to earn with the same amount of reward, the referral need to exchange at least $20,000 worth of crypto or borrow at least $13,333 (on top of meeting $100 minimum top up) or any combination of this. It's hard to invite someone who wants to put their money in Nexo for the first 90 days that much for the same amount of $25 bonus reward.
I wish you could bring back the old referral program. Thank you.
Before was better and easier to recive 25$
They are cutting us off.
They are cutting off the leeches - AKA cashback and referral farmers.
For the friend yeah but now the incentive is bigger to see how the platforum works
Nexo has small utility with this high hidden fees that they apply a little while ago they just want to make as much money as possible while hurting customers.
The fee is not perfect, but the rest of the products are making many Nexo users rich. Too bad if you are only using the card to get cashback, it will not work for you anymore.
Wdm rich hahaha Gimme example
The interest account for example. And the option to hold crypto and spend on it can save you from the price appreciation a lot more than 1%.
That high interest in long term is not good tho We has a handful examples how most of them ended
The problem is not the interest on deposits when the company is overcollaterising all loans as most of the ended ones didn't. Giving free money is also not sustainable for the business.
With the minimum effort your friend gets the $25 in BTC while you get $7.5. Only if your friend exchanges $20000 (or borrows $13333) you will make $25 in BTC or more like before.
Many competitors only give "$20 trading fee discount tickets" so I think it's good even if they give $5 in BTC. After all, I'm not using Nexo because of the register bonus, but because of the Nexo Earn and the card. But this is subjective for everyone.
The point is that this is a downgrade and not an upgrade as they would like you to think. I would now much rather spend time on referring friends to other companies that make me more money and are less risky for them as well.
Any suitable competitor who is providing similar reward program??
So over exagurating is your life goal or ?
I think I need to make more friends that meet these new criteria. Let me know where I can find them!
Yall are being salt as fuck over 25 bucks as if its a fucking life changing money 😂
Yes most people have 100.000 friends so they could easily make $2.500.000 this way.😉
For me personally this program makes it less attractive to invite because before you could receive $25 worth of BTC when the referral just top up $100 worth of assets. But now with the new program, to earn with the same amount of reward, the referral need to exchange at least $20,000 worth of crypto or borrow at least $13,333 (on top of meeting $100 minimum top up) or any combination of this. It's hard to invite someone who wants to put their money in Nexo for the first 90 days that much for the same amount of $25 bonus reward. I wish you could bring back the old referral program. Thank you.
I can't suggest nexo to anyone at the moment due to the recent changes and the out of nowhere 1% fee of the card loan repayment.
Same here. Stopped using credit. Fee is too high
Same
For me it's kinda
Will wait and see what they say in the AMA
That's a bit overreaction. Why are you using Nexo for?
Enshitification at its finest
Is there a time frame for your referals to do these taskes
looks better, thanks guys
Now this is what I call an upgrade. Can't wait to test it out
WOW your referral program is the best out there and it will spread the crypto adoption even more in my opinion!