With the rising popularity of cryptocurrencies, there has been a rapid growth in products that bridge the gap between traditional financial markets and digital assets. There are more than 3,000 cryptocurrencies available on the market, worth approximately $2 Trillion, at the time of writing, and with more coins appearing every day. Why? Global economies are being stretched, causing higher inflation, the value of traditional savings accounts has hit an all-time low, and the Covid-19 pandemic has done little to help the situation.
Today, crypto-collateralized loans present an exciting alternative to deciding between selling and saving. Instead, you can choose to use your cryptocurrencies as collateral in return for loans. This shift has seen more and more people turning away from traditional banking, trading platforms, and online wallets towards blockchain and crypto investment, particularly to platforms that allow them to use their crypto to borrow, exchange, earn, and keep their assets safe and insured.
Since platforms have started offering these exciting new services, the worldwide crypto-collateralized market has seen a 1170% growth with nearly $30 billion leveraged as collateral. One such app hitting the headlines for all the right reasons is Nebeus, a European cryptocurrency app that bridges the gap between crypto and cash with instant crypto-backed loans and a suite of accompanying crypto services.
Since its launch in 2014 (making it one of the longest existing crypto companies), Nebeus has allowed its users to instantly secure loans using their cryptocurrencies, seamlessly buy, sell, exchange coins, earn passive yields, and purchase insurance for their Bitcoin and Ethereum. The London and Barcelona-based company has grown significantly over the years and continues to expand its products, services, and features.
Opening a Nebeus account
Opening a Nebeus account is quick and easy, and you can use the desktop platform or download the Nebeus app for Android or iOS. After going through a few standard registration steps, you’ll have access to Nebeus, and you’ll be able to start exploring everything that you can do.
You’ll then need to go through an identity verification process before depositing money into your account. Account verification is very straightforward and usually takes a few hours.
Depositing FIAT of crypto to your Nebeus account
Nebeus offers a wide variety of payment channels, a lot more than many competitive crypto apps. All crypto deposits are free, and Nebeus currently supports more than 10 different currencies. If you want to deposit FIAT, then you have 4 options:
- You can deposit directly from using your Visa or Mastercard at a charge of 2.90% per transaction.
- You can deposit for free by making a SEPA Euros transfer.
- You can also deposit for free using a supercharged open banking technology transfer. The best is that this option is instant!
- Alternatively, you can deposit at a physical retail location called a Cash Collection Point for a fee of 6.50%.
Getting a crypto-backed loan on Nebeus
Crypto-backed loans are becoming increasingly popular because they allow people to get money without needing to sell their crypto. The use cases are also becoming increasingly diverse, with many people getting money to pay for expenses and others using their loans to re-invest into other assets.
Nebeus currently offers two loan options:
- Nebeus Quick loans
Quick loans are instant loans that you can secure at the touch of a few buttons. They are fixed at 50% loan-to-value (LTV) and have a limit of up to 500 of FIAT currency or Stablecoins. The best this is that they have 0% interest and are always locked to three-month terms. The only cost is a 2.5% loan origination fee, making this loans option the winner for anyone looking to leverage their crypto for quick money.
- Nebeus Flexible loans
Nebeus’s Flexible loans offer one of the most advanced crypto-backed loans services in the industry. To make the description of this product easier to understand, let me break everything down into bullet points:
- Customizable LTV from 50% to 80%
- The loan terms are from 1 month and up to 36 months.
- Interest rates are between 6% to 13.5%.
- You can borrow FIAT or Stablecoins.
- You can borrow up to 250,000.
- Free $100M insurance for your collateral from Lloyd’s of London.
- Excess collateral release option (option for excess collateral to be released if crypto prices increase).
- Automatic Margin Call Management (Nebeus will automatically monitor volatility and will add collateral from your main account if/when approaching a margin call).
- Zero Risk Loans: Nebeus gives you 10 days to save your crypto and loan in the event of a margin call.
In combination, all of these options give you a unique crypto-backed loans service, which explains Nebeus’s rise in popularity.
Earning on Nebeus with crypto-renting
If you don’t want to use Nebeus for crypto-backed loans but are interested in earning a passive income on your crypto investments, then crypto-renting is what you’re looking for. When you open a crypto-renting program, you are renting your crypto directly to Nebeus, who pays you monthly or daily payouts in FIAT or Stablecoins for the use of your coins.
Nebeus currently accepts Bitcoin and Ethereum for its crypto-renting programs, which offer yields of up to 6.75% per annum. On the stablecoin-renting side, Nebeus accepts USDT and USDC, offering a colossal 12.85% yearly yield on its programs. The lock-up periods for these programs are a maximum of 4 months, and you’ll be able to withdraw your funds at any point after the end of the lock-up period.
Buying, Selling, and Exchanging crypto on Nebeus
Most cryptocurrency exchanges are difficult to use, like Binance or Kukoin, or have extremely high fees, sometimes ranging in the 2.5% per trade like on Coinbase. Nebeus solves both of these problems by offering an easy-to-use exchange on its app, with fees that are always fixed at 0.35% per trade. You can currently trade BTC, ETH, LTC, DASH, XRP, XLM, BCH, USDT, USDC, and 3 FIAT currencies: EUR, GBP, and USD.
Have you ever heard of insurance that you can buy for your crypto? Probably not, and that’s because such insurance has always been reserved for institutions. But Nebeus has changed all that by offering you to buy a subscription to an insured vault, into which you can deposit your Bitcoin and Ethereum, to have them safely stored in cold storage and covered by a $100M insurance policy from Lloyds of London.
Nebeus currently offers two insured vaults options:
- Single insurance at €4 per month for one of your cryptocurrencies (BTC or ETH).
- Full insurance at €6.90 per month for your full vault and both BTC and ETH.
Nebeus is regulated by the Bank of Spain and is registered with “Sepblac”: the Anti-Money Laundering Supervisory Authority of the Bank of Spain. Nebeus is also a member of the Spanish Association of Fintech & Insurtech, which means that Nebeus receives regular support from the Spanish Fintech ecosystem.
So what’s Nebeus?
Crypto-backed loans, trading, earning, insurance, and an extremely well-designed and easy-to-use wallet: that’s the Nebeus app in summary. Instead of giving a longer recap, I’ll just say: download it, give it a try, and see for yourself.