- Crypto lender Nexo Finance recently advised HODLers to use its Crypto Credit Line to protect their assets.
- The company’s Credit Lines are very tax-friendly, and could save the miners after the rewards get cut in half.
- Company concluded with advice, saying that users should HODL with Nexo’s Instant Crypto Credit Lines.
Crypto loans platform, NEXO Finance, recently saw criticism by some fans on Twitter. The fan was seemingly frustrated with the company’s tendency to not answer some specific questions.
Nexo community waiting for numerous promised aspects, such as dividends, Nexo 2.0, Nexo Card, and even Nexo bank. The community member further added that the community will, apparently, have to be patient until the firm decides what it will release and when.
Nexo advises to HODL and use its Credit Lines
Nexo responded by tweeting that 53% of its followers believe that BTC will rise in the next few months. According to the firm, the majority of its fan base thinks that BTC will see $11k in the next six months. Nexo is willing to take this as proof that the community expects the current setback to make crypto even stronger.
In other words, Nexo wishes to make everyone know that it is there to help, particularly the miners. The mining business will recover, the company expects. But, until then, the company’s chief ideal is to provide the miners with the cash needed to keep running their operations. That way, miners will not have to sell their coins, and they will be able to profit once the prices start going up.
The crypto expert, Sydney Ifergan, responded to the company’s new statement. He said that: “Nexo is good at helping unlock the full value of BTC without having to sell it. A feedback on the tax efficiency of the Nexo Credit Lines is something that real-time users should vouch for.”
Miners to show if Nexo’s offer works
The upcoming halving of Bitcoin’s block rewards is a highly-anticipated. But, it is also a highly-dreaded event. It is Bitcoin’s third halving, and it will cut the profitability of the mining process until the coin’s price surges. However, with Nexo, miners may not have to leave due to the low rewards and profits. They will have the chance to confirm whether Nexo Finance’s solution works for them. Especially with the company’s tax-friendly Credit Lines.
Meanwhile, there are more and more investors who are considering the same. They are ready to benefit from the price movement, whenever it may arrive.