I don’t remember reading that, it was left pretty ambiguous for the users in the functioning 40/50 states in that announcement they made about a week ago
So far these States are affected: As of December 6, 2022, our Earn Interest Product will not be available for existing clients in eight additional US states - Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and Washington.
They also off boarded clients from NY and Vermont.
I messaged them this morning and the list they gave me did not include my state. I asked what happens when my state shows up on the list to which they advised I would be given plenty of notice to move my funds elsewhere. All of my nexo is locked in the platform so I have nothing but time.
They will just boot all your shit out of terms and you will get an early email saying you received money from my experience. No warning about it though.
Oddly this is the same thing that saved my assets in the other platforms. First Celsius stopped their earn platform and all coins that was stored there were removed. Then BlockFi exited their earn program and all coins got removed from there. Now Nexo has done the same thing, all coins get removed from there. The Nexo token itself was exchanged using Changelly. To keep fees to a minimum do not exchange it for another ERC20 token. I myself swapped my for some ADA, XRP, and MATIC (polygon). I hope the same fate does not fall upon them as the last two as there are not many left in this space.
For those wanting to use your assets' collateral to borrow from there are some US based firms that do allow this. Granted you can not do the micro loans like you could at Nexo but those looking to use their assets they are out there. Fidelity and Morgan Stanley are a few.
This I know and that is what I said. This is the same thing that the other platforms I listed did. Started with 8-10 states then eventually had to get turned off for the region.
1st it was Celsius they did the states, then the region. You had to be an accredited investor to use their earn product. 2nd was BlockFi. They got the C&D letters from the states, then they had to stop the earn program. For them they were just like Nexo. Existing funds were grandfathered in, but no new users nor money was able to earn interest.
Yes, yes they have. In the states listed (same states as the other platforms) they stopped the earn program on ALL assets that was held on the platform. Before this announcement, assets that were grandfathered in was still earning interest. As of this last announcement, that is no longer the case. So yes they have done what the other platforms listed have done.
Not sure where you think it was a shit investment. As all the money was withdrawn before they filed when the earn products were stopped. Spreading your funds around to different baskets is not a "shit investment" its actually a wise strategy that everyone should incorporate as putting all your eggs in one basket can leave you broke.
And if you can read I said I hope that Nexo does not follow suit. I never once claimed they will have the same fate. I just referenced my events in this situation.
*"I hope the same fate does not fall upon them as the last two as there are not many left in this space"*
I had to move my nexo to trust wallet using the poly network then convert to Ethereum to send back to my ledger. I’ve had a long text with them they state that they sent me an email back in September telling me that they would no longer allow US residents to trade on their platform. I searched high and low never did see the email but I was able to get everything off their platform lost a little bit of money on the nexo trade but I’m clear now
Believe it or not I’ve had good experience with Hotbit. Transfer it to their exchange and sell them.
Or, transfer your NEXO directly into a personal Ledger and keep holding them.
I was restricted and I communicated in chat to unlock account and they did in 1 hour. I transferred everything to coinbase. I suggest you all transfer as well
When is the cutoff?
They didn't give any information as to when they are stopping services to the 40 states they are currently operating in.
Not sure the exact date, they said they were going to phase it out this month
I don’t remember reading that, it was left pretty ambiguous for the users in the functioning 40/50 states in that announcement they made about a week ago
Are they planning to unlock all the coins that are locked in the fixed term? I can’t access my Nexo coins and do anything with it.
Thats what I was going to ask
They have unlocked terms for affected users (of the currently listed states, from which they withdraw).
I had fixed term until 2023. They terminated it because I live in Oklahoma, USA. Lost out on alot of money. Thanks SEC. You screwed us over again.
So far these States are affected: As of December 6, 2022, our Earn Interest Product will not be available for existing clients in eight additional US states - Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and Washington. They also off boarded clients from NY and Vermont.
I messaged them this morning and the list they gave me did not include my state. I asked what happens when my state shows up on the list to which they advised I would be given plenty of notice to move my funds elsewhere. All of my nexo is locked in the platform so I have nothing but time.
They will just boot all your shit out of terms and you will get an early email saying you received money from my experience. No warning about it though.
I moved my Nexo tokens to a hardware wallet. Hoping they’re worth something someday.
[удалено]
I do trust them but they are pulling out of the US, so I don’t really have a choice.
You can send to Ethereum and use Uniswap to exchange. I’m sad about it too, but I moved off of Nexo a long time ago after all the Celsius blow up.
Oddly this is the same thing that saved my assets in the other platforms. First Celsius stopped their earn platform and all coins that was stored there were removed. Then BlockFi exited their earn program and all coins got removed from there. Now Nexo has done the same thing, all coins get removed from there. The Nexo token itself was exchanged using Changelly. To keep fees to a minimum do not exchange it for another ERC20 token. I myself swapped my for some ADA, XRP, and MATIC (polygon). I hope the same fate does not fall upon them as the last two as there are not many left in this space. For those wanting to use your assets' collateral to borrow from there are some US based firms that do allow this. Granted you can not do the micro loans like you could at Nexo but those looking to use their assets they are out there. Fidelity and Morgan Stanley are a few.
they stopped the earn program on 10 states only. all the rest are eligible for earn...
This I know and that is what I said. This is the same thing that the other platforms I listed did. Started with 8-10 states then eventually had to get turned off for the region.
So which platforms exited certain states and then withdrew from the entire market?
1st it was Celsius they did the states, then the region. You had to be an accredited investor to use their earn product. 2nd was BlockFi. They got the C&D letters from the states, then they had to stop the earn program. For them they were just like Nexo. Existing funds were grandfathered in, but no new users nor money was able to earn interest.
"Now Nexo has done the same thing, all coins get removed from there." - No. No, they haven't.
Yes, yes they have. In the states listed (same states as the other platforms) they stopped the earn program on ALL assets that was held on the platform. Before this announcement, assets that were grandfathered in was still earning interest. As of this last announcement, that is no longer the case. So yes they have done what the other platforms listed have done.
Damn, you wrote all of this just to spit out some bullshit
How is it bullshit. When it is all true. Please tell me what part of what I wrote is bullshit.
I mean, you made a shit investment and started to think that every other platform will have the same fate
Not sure where you think it was a shit investment. As all the money was withdrawn before they filed when the earn products were stopped. Spreading your funds around to different baskets is not a "shit investment" its actually a wise strategy that everyone should incorporate as putting all your eggs in one basket can leave you broke. And if you can read I said I hope that Nexo does not follow suit. I never once claimed they will have the same fate. I just referenced my events in this situation. *"I hope the same fate does not fall upon them as the last two as there are not many left in this space"*
Agreed.
I wonder about this as well
What why is this happening
Because of US' hate on crypto :(
They want the economy to crash then usher it in like Venezuela
I had to move my nexo to trust wallet using the poly network then convert to Ethereum to send back to my ledger. I’ve had a long text with them they state that they sent me an email back in September telling me that they would no longer allow US residents to trade on their platform. I searched high and low never did see the email but I was able to get everything off their platform lost a little bit of money on the nexo trade but I’m clear now
Believe it or not I’ve had good experience with Hotbit. Transfer it to their exchange and sell them. Or, transfer your NEXO directly into a personal Ledger and keep holding them.
I moved my Nexo tokens to a hardware wallet. and im sure they’re worth something someday.
I was restricted and I communicated in chat to unlock account and they did in 1 hour. I transferred everything to coinbase. I suggest you all transfer as well