Nexo offering free withdrawals

Happy Monday everyone

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Nexo.io crypto lending platform is offering from 1 up to 5 free withdrawals a month depending on the amount of Nexo token you are hodling in on the platform. For the 5 withdrawals you need to hold at least 10% of your portfolio in Nexo tokens, but even if you aren't there is a way to have use of the free withdrawals with a small risk involved. You can simply exchange enough of your crypto(the one you are not planing on withdrawing), for example Bitcoin, turn it into Nexo token (high enough amount so that you have at least 10% in Nexo, better make it 12-15% just in case due to price volatility) and you have access to 5 free withdrawals, then you withdraw for example your Ethereum, Cardano, Polygon, etc., then simply swap the Nexo back into Bitcoin. The risk here is the price volatility of Nexo and BTC. If Nexo were to fall or Bitcoin were to rise or even both during the time you have them swapped you potentially lose some money, on the other hand if Nexo were to rise or BTC were to fall or both during this time you gain profit so it is a double edged sword. Note that you can withdraw as many times as you like but for those 5 withdrawals Nexo.io covers the gas fees, also note that if you are withdrawing a coin or token that has really small fees like Ripple, Stellar, etc., it isn't worth doing the swap for free gas fees since you will lose more money due to the spread of the swap.

I am making use of tease above listed methods to move my coins and tokens to cold storage, since I suffered enough pain in the Celsius downfall, I still hope for the best that I will get my funds back from Celsius but at the moment I am not putting any faith in centralized exchanges.

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Some time ago I made another post about nexo.io, here is the link if you wish to check it out: @crossedmat/nexo-io-crypto-lending-platform-passive-income-from-interest-earnings

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Have a great rest of the day and if you like my content fell free to follow me.

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