You could just transfer your crypto assets to your Nexo account and get an instant crypto loan (credit line), which you can immediately access using the free Nexo Card or by withdrawing in 45+ currencies to your personal/business bank account, or USDT to your Tether address.
In order to obtain a loan, follow these steps:
- Sign up for your Nexo account at https://platform.nexo.io/;
- Deposit your crypto assets. The platform supports BTC, ETH, PAXG, XRP, LTC, XLM, BCH, EOS, stablecoins, NEXO and BNB with new major altcoins being added on a regular basis;
- Undergo the Basic/Advanced Verification in the My Profile section;
- Go to “Withdraw Loan” where you will see the available loan amount;
- Choose the preferred withdrawal method and enter your bank account/Tether address;
- Enjoy spending your Nexo Loan.
Please note that if you want to take a loan against stablecoins, you will have to cover at least 50% of your loan using other crypto assets as collateral (BTC, ETH, etc.). This is required to comply with Anti Money Laundering standards.
It is also important to note that you may be as well requested to provide supporting documents to prove the origin of your funds.