In your Nexo Wallet at platform.nexo.io, there is a “Deposit” button next to each collateral option where you can see the Deposit Address of the particular cryptocurrency. It is important to note that by depositing you acknowledge that Nexo is not responsible for any coins sent to the wrong address.
You can also deposit from exchange wallets. The processing is as follows: BTC deposits will appear after six network confirmations; ETH and ERC20 deposits will appear after 50 network confirmations. After making a deposit you can track its progress on the Transactions page in your Nexo Wallet. No interest is charged until you make a loan withdrawal from your available loan limit. Your crypto assets are held in multi-signature wallets and cold storage at world-renowned custodian BitGo.
BitGo is backed by Goldman Sachs and is Cryptocurrency Security Standard Level 3 as well as SOC 2 compliant.
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Hi Nexo team,
Can you please tell us what upper limit is for the number of confirmations required before a Nexo token deposit appears in our account? I can confirm that I've deposited to the proper address, and I can see that previous deposits to that address eventually appeared in my Nexo account. (it looks like they come into my personal address before being withdrawn to a pooled Nexo custodial address)
If I understand correctly from above, it should be about 50 network confirmations before I can view the progress on the transaction page. I'm currently sitting at 194 confirmations on Etherscan and do not see any activity in my Nexo account yet.
Does your team manually move the funds over to cold storage when a Nexo token deposit is made directly to the Nexo address (so maybe it's after business hours)?
Thank you for the help!
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