Nexo, a leading cryptocurrency lender, has announced the Buy & HODL Crypto Challenge – a rewards program available to both new and existing Nexo customers. Let’s take a look at how it works!
Buy & HODL Crypto Challenge Rules:
- Buy or top up at least $5,000 in SOL, ADA, MATIC, BNB, DOT, LUNA, or AVAX.*
- Hold the assets in your secure Nexo account for 90 days.
- Get a reward of up to $1,500 in NEXO Tokens!
P.S. Yes, of course you’ll be earning up to 16% APR on these assets in the meantime.
*Top-ups are available for DOT, MATIC, ADA, and BNB.
Nexo’s Buy & HODL Crypto Challenge is created to attract and reward HODLers – long-term crypto believers who see the underlying potential and upside of the most promising cryptocurrencies. The challenge begins on March 17 and will consist of two stages.
Crypto Buy & Top Up Stage: March 17 – April 17
You have an entire month to accumulate as much crypto as you want – either by buying it directly with card on the Nexo Exchange or by topping up from any external wallet. Use this period wisely and don’t forget – the highest bonuses come to those who stack. The Buy & HODL Crypto Challenge comes with different reward tiers. Needless to say, the more, the merrier applies fully here, but we’d like you to have choice:
- Buy $5,000 worth of crypto & receive $150 extra in NEXO
- Buy $10,000 worth of crypto & receive $250 extra in NEXO
- Buy $25,000 worth of crypto & receive $600 extra in NEXO
- Buy $100,000 worth of crypto & receive $1,500 extra in NEXO
You’re free to enter the Buy & HODL Crypto Challenge with as many of the qualifying cryptos as you wish as long as you add at least $5,000 worth of each participating currency. Keep in mind that you can’t stack multiple cryptos to reach a given tier – i.e., you can’t buy $8,000 worth of SOL and $2,000 worth of DOT to be eligible for the $10,000 tier. However, you will be allowed to stack the same asset multiple times – if you initially buy $8,000 in SOL and then top up $2,000 in SOL, you will be eligible for the $10,000 tier, as long as it is during the Buy & Top Up Stage. So keep adding assets daily to get the highest possible reward.
We encourage you to buy with card on the Nexo Exchange during this period to accumulate more of the participating cryptocurrencies and end up with a higher prize. Note that you get up to 0.5% cashback for every crypto purchase you make, depending on your Loyalty level which also counts towards your balance.
Crypto HODL Stage: April 17 – July 17
Hold on for dear life. Or at least for three months. Once you have those cryptos in your account, keep them there for 90 days to receive your prize. There is one simple rule – make sure that at the end of the period you have the same, or a higher, in-kind amount of crypto you started with. For instance, if you bought 300 SOL on March 18 and topped up another 5,000 DOT on April 5, to qualify for the challenge you will need the same or a higher in-kind amount of SOL and DOT on July 17, regardless of the price movements of either asset. This way, we make sure that volatility doesn’t get in the way of your prize.
Make sure you HODL the same or a higher SOL, ADA, MATIC, BNB, DOT, LUNA, and AVAX balance you had on April 17 and finish the 90-day holding period ending on July 17 with the same – or a higher – in-kind amount of crypto.
Earn Interest Rate While HODLing On Nexo
Didn’t think it gets better than $1,500, right? Well, it does. While your assets sit comfortably in your Nexo account, they will also earn you sweet passive income. Our market-leading maximum rates are as follows:
- Binance (BNB) – 8%
- Terra (LUNA) – 8%
- Cardano (ADA) – 8%
- Solana (SOL) – 8%
- Avalanche (AVAX) – 12%
- Polkadot (DOT) – 15%
- Polygon (MATIC) – 16%
It doesn’t get easier than this and nobody pays you this much for this little effort.
How to Buy & Top Up Crypto On Nexo?
So, how do you get to that coveted $1,500 bonus? There are two ways and you can take advantage of both. Buy SOL, ADA, MATIC, BNB, DOT, LUNA, and AVAX instantly with your credit or debit card through the Nexo Exchange. Did we mention there’s an up to 0.5% cashback for every crypto purchase you make?
Now let’s talk about top-ups. Have any DOT, MATIC, ADA, and BNB scattered across various wallets? We think now is the perfect time to bring them all under one roof – Nexo. This way, you’re increasing your prize and earning top rates in the process. It’s a win-win. If you think HODLing is not an investment strategy, think again. Buy, HODL, earn, repeat.
Please take the time to review the rules of the Buy & HODL Crypto Challenge, so you secure your reward at the end of the 90-day period. Buy & HODL Crypto Challenge Rules:
- Buy with Card or top up your account with selected Buy & HODL Crypto Challenge cryptos, i.e. SOL, ADA, MATIC, BNB, DOT, LUNA, and AVAX.
- Hold the acquired crypto in your account for 90 days. Make sure your in-kind balance – not the US-dominated value – at the end of the challenge is the same, or higher, as it was at the start of it.
- Get up to $1,500 in NEXO Tokens in your account after the 90-day Buy & HODL Crypto Challenge period.
Note: To qualify, you must buy or top up fresh funds that have not been deposited into your Nexo account before. Withdrawing previous balances from your account and topping up the funds back is not considered fresh funds. Topping up from another Nexo account is also not allowed. Your account balance at the end of the challenge (read: July 17, 2022) must equal the same in-kind amount of selected cryptocurrencies (SOL, ADA, MATIC, BNB, DOT, LUNA, and AVAX) you entered the challenge with in order to qualify for the bonus payout. Once you are compliant with the mentioned rules, the bonus will be credited to your Nexo account 14 days after the Buy & HODL Crypto Challenge ends.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
