Anyone use Nexo? What happens to repayment if your crypto collateral rises price

[AESyn]

I like the idea of Nexo.

Anyone have any positive experiences?

My question is, if I place my BTC and lock it in withdrawing a loan, what happens if I want to repay the loan but by that time, the BTC price has gone up against the dollar? Does that mean my repayment is actually less if I repay with BTC? If I pay back with FIAT do I pay the original BTC amount or the new price BTC has gone up to upon repayment?

I understand what happens if the BTC depreciates too much, but just want to confirm what happens in a nexo loan if your crypto collateral appreciates in value.

Also, do you guys think that nexo tokens are worth it and do they really pay you dividends for it? Convert my btc to nexo -> take out loan -> repay loan using nexo get the discounted interest.

[Bttzed03]

The best people to ask is the Nexo community. It looks like they've left bitcointalk already and I don't see a lot of topics about the project even on altcoins section. Try to ask them on their telegram channel

[LeGaulois]

You have 2 choices.

- You can place an order to sell a percentage of the coins and pay back a part or all of your pending balance
- Or withdraw more from the credit line.

https://support.nexo.io/hc/en-us/articles/360008117914-What-happens-if-the-value-of-the-collateral-changes-before-I-repay-my-loan-

[hello_good_sir]

You have 2 choices.

- You can place an order to sell a percentage of the coins and pay back a part or all of your pending balance
- Or withdraw more from the credit line.

https://support.nexo.io/hc/en-us/articles/360008117914-What-happens-if-the-value-of-the-collateral-changes-before-I-repay-my-loan-

Keep in mind I'm pretty sure you need to do this manually, it's not automatically done (eg, they auto sell your BTC for repayment), which is for the better I reckon.

If BTC goes down in value:

- If it goes down a small amount (still worth around the same amount as your loan), nothing happens.
- If it goes down a huge amount, they will give your warnings and probably automatically make payments from your account, to modify the loan.