How Halal.io is a better alternative to Nexo?
Significantly better APY and rates. Easy-to-understand.
Although Nexo advertises a leading interest rate of 15%, the practical yield can be significantly less and their tiered structure can be intricate. The interest rates are based on the type of cryptocurrency deposited and the specific quantity invested. For instance, Bitcoin yields an annual percentage yield (APY) of around 4-5%, whereas Ethereum offers an APY of approximately 5-7%, and the rates vary likewise for other cryptocurrencies.
Halal.io offers up-to 18% APY
Regardless of your chosen cryptocurrency for investment, be it Bitcoin, Ethereum, Solana, USDT, BNB, or others, we maintain a uniform rate. Hence, the annual percentage yield (APY) remains consistent across all these digital assets.
Note: Halal.io pays out a share of the profits, not fixed interest.
Halal. Ethical. Sustainable.
Nexo's operations, rooted in RIBA, primarily revolve around the lending and borrowing of assets. These practices are in direct contradiction with Islamic principles. Moreover, Nexo's viability hinges on the crucial factor of borrowers repaying their loans along with the accrued interest.
Despite Nexo's commendable standing in the market, history shows that other prominent crypto enterprises with analogous lending/borrowing models have suffered catastrophic failures. BlockFi, Celsius, Vauld, and Midas, to name a few, were unable to weather the storm when their borrowers defaulted. Therefore, while contemplating your financial decisions, it's prudent to weigh all these factors and consider alternatives to secure your assets effectively.
At Halal.io, we choose not to engage in the lending or borrowing of cryptocurrency assets, but rather, actively participate in spot market trading. This method ensures we steer clear of unnecessary leverage, and excessive risk, thereby prioritizing the safety of your capital.
Rather than relying on traditional, manual trading methods, we've adopted an innovative approach utilizing AI-powered bots for automated trading. Our conviction lies in this sustainable and technologically forward business model, designed to provide an optimal balance between growth and security for your investments. Trust in our methods, and let us help you navigate the world of crypto investing with confidence.
Nexo’s “Earn” product may not be available in your region.
While Nexo claims to offer services worldwide, the crypto-yield product (to earn interest) is NOT available in many countries including the United States.