Welcome to the @OriginalWorks sponsored writing contest!

Status: CLOSED.

Accepted Languages:

• English

Start Time: 6 PM ET, Friday
End Time: 6 PM ET, Monday

This is a call to all great Steemit writers! Nexo has sponsored a writing contest!

Prizes: 280 STEEM + 40 Bonuses

• 1st Place: 60 STEEM
• 2nd Place: 46 STEEM
• 3rd Place: 38 STEEM
• 4th Place: 30 STEEM
• 5th Place: 25 STEEM
• 6th Place: 21 STEEM
• 7th Place: 18 STEEM
• 8th Place: 15 STEEM
• 9th Place: 14 STEEM
• 10th Place: 13 STEEM
• 11th - 50th: 1 STEEM Bonus

Deadline: 72 Hours

All articles must be submitted within 72 hours of this post to be considered!

Change in submission bonus rules

What is Nexo?

Nexo offers the world’s first instant crypto overdrafts. This means that owners of digital assets do not need to sell their crypto to have access to instant cash whenever they need it.

Nexo will allow users to use their cryptocurrency as collateral to get liquidity without credit checks, exchange fees, taxes or hidden fees. This will enable crypto holders to maintain their position and benefit from any upside potential, while giving them the power to seize any attractive opportunities or meet any immediate obligations.

The Nexo Clients

Cryptocurrency Investors
Cryptocurrency investors can receive immediate funding based on the market value of their Bitcoin, Ethereum or other liquid cryptocurrencies, tokenized assets or utility tokens.

Hedge Funds
Hedge Funds that are holding ICO tokens, cryptocurrencies or any of the multitude of other digital assets will be able to receive instant overdrafts to take new positions in their investments.

ICO and Crypto Companies
ICOs and cryptocurrency based companies can instantly access working capital and meet their immediate financial needs by using Nexo instant crypto overdraft. This will ensure that their operating costs are met on time!

Crypto Miners
Cryptocurrency miners incur many costs to continue their operations, such as maintaining the necessary computing power in order to deal with the increasing difficulties. Instead of having to liquidate their holdings, they will be able to use overdrafts to cover their growing costs while keeping their cryptocurrencies.

Cryptocurrency Exchanges
Exchanges require liquidity to finance margin lending as well as trading services. They can use Nexo to meet their financial demands to support these services.

Gamers and Virtual Reality Users
There is a massive gaming and VR industry populated with 2.2 billion people and with in-game trades amounting to over $50 billion. Nexo will continue to increase support of digital assets. This will translate into the ability to take overdrafts on in-game items without having to sell the items.

The Nexo Overdraft Process:

Overdrafting

Step 1:
The user puts cryptocurrency into their Nexo overdraft wallet.

Step 2:
The overdraft funds are immediately available via bank transfer or the Nexo Credit Card.

Repayment

The repayment can be arranged in various ways. It can be paid via bank transfer, fiat or cryptocurrency. If the user chooses to pay in Nexo tokens, they will receive discounted rates on the interest fee.

Alternatively, users can pay the balance with a portion of the cryptocurrency holdings they have stored in their Nexo wallet.

Nexo Oracle

Nexo Oracle is the core technology behind Nexo. It is an automated system that provides the overdrafts as well as deals with repayments. It is driven by smart contracts, promoting transparency and efficiency. The Nexo Oracle system has multiple components that communicate with one another in order to offer real-time data and overdraft services.

The NEXO Token

Nexo has filed with the US SEC to ensure they are compliant with all regulations.

• NEXO tokens are backed by the Overdraft assets portfolio and the investors receive 30% dividends from the company profits.
• NEXO tokens can be used for discounted overdraft repayments.
• NEXO tokens can be stored in the overdraft wallet to get discounted interest and an increase in the overdraft limit.

The Nexo Credit Card

Nexo offers a credit card that can be used just as any traditional credit card. The key difference is that funds are made automatically available based on how much is stored in the Nexo wallet. It will also adjust the limit based on any appreciation the cryptocurrencies might have accrued. This means that user can access the instant overdraft function Nexo offers directly via the credit card.

Use-Case

Bob has been an avid cryptocurrency holder as soon as he bought his first bitcoin in 2015. He has since amassed a small fortune of 6 bitcoin.

Bob's house is due for repairs. His garage door recently broke down, and his washing machine has been making clanking noises that could be heard throughout the entire house.

Being a believer in the future of cryptocurrencies, Bob feels uneasy taking out his cryptocurrency savings to pay for the repairs. He is afraid that he going to lose out on the growing price of bitcoin and will regret it later. Bob is at a loss for what to do.

Enter Nexo!

Using Nexo, Bob can simply put a bitcoin in the overdraft wallet and have access to funds instantly. This will allows him to pay for his repairs while keeping him invested in bitcoin. Bob can choose to repay the debt through fiat, his bank, with other cryptocurrency assets or alternatively with a portion of his balance. Whatever Bob chooses, he now has the power to keep his position if he chooses to do so, while having instant cash on hand to spend.

The Nexo Token Sale

The Private Pre-Sale has been oversubscribed by a factor of 5x and the applications for the Public Pre-Sale Whitelist indicated an 11x oversubscription.
The Public Pre-Sale and Main Token Events will not take place due to increased institutional and strategic support.

The Demand for Instant Crypto Overdrafts

Early requests and applications for the Nexo Instant Crypto Overdrafts now exceed $500 million.

Nexo History

Nexo is powered by Credissimo, which was founded in 2007. Credissimo has over 130 employees, and has processed over 1,000,000 loan applications.
These are the statistics for Credissimo:

Credissimo adheres to the highest regulatory requirements and has been strictly
supervised by multiple European Banking and Financial Services Regulators since 2007.
Credissimo has received several awards over the years from companies such as Forbes and Ernst & Young, while also reaching Top 10 in Alternative Finance at the European FinTech Awards 2017.

Community Channels

Telegram

Nexo.io .io Community is the third largest Telegram group, with more than 55,000+ members and is a testimony to a growing support by the crypto community.

Twitter

Nexo has 24,000+ followers on Twitter

The Nexo Management Team Advisors

The team's managing directors consist of industry veterans with years of industry experience as it pertains to the industry.

Advisors

Managing Partners

For a quick introduction, check out this video:

More Information & Resources:

• Nexo Website
• Nexo WhitePaper
• Nexo YouTube
• Nexo Medium
• Nexo Facebook
• Nexo Twitter
• Nexo Telegram

Rules & Submission

• Write an article about how Nexo is going to change how cryptocurrency users access their funds? What are the benefits of being able to overdraft against cryptocurrencies in order to have instant liquidity. How will this effect cryptocurrency spending? As always, these are just suggestions and the contest is open-ended. Be creative!

• Feel free to use images and media from their website. You can even make your own video and have it in your submission!

• The article must be at least 300 words in length.

• To submit please do the following:

1. Add the word "nexo2018" (without the quotes) at the very end of your article.
2. Link this post in your submission.
3. Post the link to your article as a reply to this post.
4. Resteem this contest post.

How the winners are decided

The submissions will be passed along to the team at Nexo, and they will decide the best articles.

More information & recommendations:

• Pay attention to spelling and grammar!
• Feel free to use informal language such as "I would, etc"
• Use information and resources above to learn more about Nexo!
• If you copy something, use quotes. This is an @OriginalWorks contest after all :)

After writing an article, within a few minutes you should get one of these as a response to your article post:

If you don't get one, let me know by adding a quick message after you submit your link as a reply here and it will be done manually. Sometimes it can take some time, so don't worry if it isn't instant!

40 submissions will get 1 STEEM each. The article must meet the contest conditions such as word length and a level of quality.

Disclaimer: @OriginalWorks makes no claims as to the legitimacy or operating procedures of contest topics. @OriginalWorks does not offer any sort of investment advice. This is a writing contest. @OriginalWorks does guarantee prize payout. The contest topic company may choose to share the winning contest submissions.

Good luck to all the contestants!