Nexo: Crypto Platform with Security at the Forefront
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Finding a new crypto platform that can offer everything you need without compromising on security is one of the main challenges for most crypto traders. While blockchain has a built in security system that is close to unbreakable, human error can override even the most foolproof software. This is why it’s so important to bring the software up to snuff before even attempting most crypto-related activities — and that’s exactly what Nexo is doing with their platform.
There are several systems in place at Nexo that ensure your funds will not only be safe, but also well-cared for. Nexo is a crypto lender, among its other services; the market has not been kind to lenders in the past few months, which is why it is so important to be sure that the service you’re using can actually support what they’re offering. That’s why the first of the five key mechanisms behind their business model is overcollateralization: they state that even the largest and most trusted institutions do not receive credit from Nexo without sufficient collateral. This doesn’t protect just the exchange, but the clients as well.
Additionally, the platform relies on real-time auditing to always be able to prove their position: they are always working with auditing firm Armanino LLP to provide real-time attestations over the company’s custodial holdings. It is significant to mention that Armanino is not just any auditing firm — it’s a partner of Deloitte, one of
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