In the following Nebeus review, we are going to take an unbiased look at the crypto lending platform and see how it stacks up in comparison to some of the big boys like crypto.com or Celcius Network. We will take a close look at all of the important items when selecting a crypto lending platform to stake your Bitcoin or Etherum like; KYC, annual yields, security, and much more… So with that said, let's jump right into it!
As the world has ushered in a new decade, digital currencies are slowly becoming the money of the future. That said, the popularity of cryptocurrency is still growing faster than it ever has before. Several services allow you to pay via different types of crypto and the surge of the DeFi has introduced hundreds of new investment opportunities in the crypto space.
Fast forward to today and you can even perform simple tasks like booking hotels with Bitcoin.
The next step after creating everyday utility for crypto is to offer traditional banking services like loans and savings accounts. There are hundreds of millions of unbanked people all over this world, which probably explains (at least in part) the explosion of DeFi in recent years.
Platforms like Nebeus are allowing their users in over 100 countries to receive actual cash loans that are backed by cryptocurrency. Whereas before, a person's ability to secure a loan was based on several factors like their credit score, hard assets, etc… now virtually anyone can get access to a loan provided they have enough of a specific cryptocurrency to put up as collateral.
So let's take a closer look at this new crypto-lending platform to see what it offers!
So What is Nebeus?
Nebeus was established in 2014 and is a full-fledged cryptocurrency platform that was established for cryptocurrency users and has grown ever since.
The company is known to offer a wide range of services related to cryptocurrency like could vault storage, crypto wallet, savings accounts, crypto-based loans, and the ability to trade cryptocurrency conveniently and fast.
What are the services offered by Nebeus?
In a nutshell, Nebeus provides three main types of services:
Peer-to-peer Bitcoin loans
Nebeus provides peer-to-peer Bitcoin loans without having to go through any approval process.
If you do not wish to hold your cryptocurrency in a standard wallet then Nebeus can help you convert it into cash. The company uses your cryptocurrency as collateral and provides you with the subsequent cash amount deposited into your bank account. The best aspect is that you do not even require a credit check – you will simply get the fiat money.
All the loans are done on a peer-to-peer basis. This means that another party offered the cash you receive without the bank playing the middle man. Of course, the only downside here is that the process can take some time and is not instant.
Similar to any loan, failing to pay your debt can prove to be unfavorable. You could end up losing all your cryptocurrency if you are unable to make timely payment.
Additionally, you get only half the cash value of your Bitcoin; to get a cash loan of $3,000, you need to make a Bitcoin deposit of $1,500.
However, if you can make timely payments and follow the terms and conditions, this is a great loan service for people that need to offload their cryptocurrency.
As the name suggests, the crypto wallet is the space where you can hold all your cryptocurrency in a safe and secure vault. It also allows you to invest accordingly.
With the help of this crypto wallet, you can transfer cryptocurrency among other Nebeus users for free.
Even if you want to transfer crypto to outside accounts, you can do so with low fees; all these features you can do safely within the confinements of your home.
Additionally, all your cryptocurrencies are stored in cold (offline) accounts, thereby keeping it out of reach from hackers.
According to news reports, banks have started to introduce negative interest rates.
This means that instead of receiving money as interest for depositing cash, you will have to pay money to the bank for storing your funds.
Coupled with the higher inflation rate expected in the future due to the COVID-19 economic damage, the overall value of your savings may decrease even further.
To battle this particular problem, Nebeus offers its cryptocurrency savings account. This savings account provides you with an annual interest rate of 8.25% directly into your account (in EUR) each month. The funds can be compounded or withdrawn instantly.
You will find two savings platforms you can choose, based on the time you would keep the account open and the amount of crypto.
The savings account will allow you to earn extra passive income while holding cryptocurrency.
This is the most primary function of Nebeus – buying and selling cryptocurrency. The cryptocurrency can be traded via Nebeus’s exchange feature.
As mentioned previously, you can convert your money to crypto or change one type of crypto to another. Nebeus also allows you to purchase cryptocurrency via your debit/credit card or use bank transfer, thereby allowing you many ways for cryptocurrency investment.
While bank deposits can be made for free, debit/credit card deposits will require a small fee.
Moreover, you can also move your cash directly from your Nebeus account to your bank account.
How do you sign up at Nebeus?
Signing up at Nebeus is extremely simple and straightforward. All you need to do is add your name and email address, nationality, and password; that is it! However, the verification process is a bit tricky. Your account needs to be verified via SMS – you need to fill out a form, attach any utility bill, and your Nebeus account is ready!
What is the process of applying for a loan?
Applying for a loan is very easy. All you need to do is follow the steps mentioned below:
- Head to the Nebeus platform; here, tap on ‘Issue a Loan.'
- Tap on the ‘Create Loan Request' button and then on ‘Loan Request.'
- Once done, you simply need to fill out the form.
It would help if you remembered that all the terms and conditions would be displayed to potential lenders as well. Hence you must fill out as much information possible so that lenders get to know you better about your financial conditions. Overall, this will only increase your chances of getting a loan.
Nebeus Review Conclusion
Nebeus is one of the newest crypto-platforms that is simple to understand and use, thereby making it a perfect place for both beginners and professionals. The site has some great features like savings accounts, etc. However, most users tend to use Nebeus for securing loans, thanks to the fast and simple method. Nebeus is definitely a site that works like a charm, a recommended platform if you deal in cryptocurrency.
Ease of use
- No KYC required
- Solid staking returns
- Easy to use platform interface
- Would be nice to see more tokens accepted
- More information on the team would be helpful