Nuo Network Loans Review
- Retail Borrowers
- Privacy Focused Borrowers
Nuo Network is a decentralized peer-to-peer marketplace running on the Ethereum mainnet. Available worldwide, borrowers can deposit their ERC20 crypto assets into a smart contract and obtain over-collateralized loans without submitting any personal information.
Nuo Network Crypto Loans - 2020 Comprehensive Review
Nuo Network Overview
|APR Rates||2.26% - 50%|
|Borrow Assets||USDC, DAI, ETH, LINK, TUSD, BAT, ZRX, REP, WBTC, MKR, KNC, SNX|
|Rate Variability||High Variable|
|Loan Amounts||$25 - $1,000,000|
|Receive Funds||Stablecoin : Instant, Crypto : Instant|
|Repayment Type||Interest & Principal|
|Available Loans||Stablecoins, Crypto|
|Accepted Collaterals||ETH, DAI, LINK, ZRX, REP, BAT, TUSD, WBTC, KNC, MKR, SNX, USDC|
|Collateral LTV||50% - 70%|
|Margin Call LTV||70%|
|Platform Fees||No Fees|
|Token Benefits||NO TOKEN|
|Platform Type||Decentralized Lender|
|Supported Regions||All Countries|
|Excluded Regions||Sanctioned Countries|
|Borrow Asset||APR Rate|
|Collateral Asset||Collateral LTV|
Nuo Network Crypto Loans Alternatives
Pros and Cons
- Assets Available - Nuo Network has 10+ crypto assets available to borrow. These include major stablecoins, Ethereum (ETH), Wrapped Bitcoin (WBTC), Chainlink (LINK), and more.
- Global Accessibility - Nuo Network is accessible worldwide, without restriction.
- Privacy - Users looking to obtain crypto asset loans via Nuo Network will not be required to submit personal information.
- Non-Custodial - User funds are never held by Nuo Network directly. This provides a more decentralized and trustless experience for the user.
- Active Community - The Nuo Network team can be found on their official telegram channel answering questions and inquiries from the community on a daily basis.
- Transparency - All user funds and transactions can be verified on the Ethereum blockchain.
- Fluctuating APR - Interest rates on crypto asset loans are determined by supply and demand. This makes it difficult to forecast future APR rates when deciding which crypto loan platform to use.
- Available Loan Liquidity - Nuo Network lists several crypto assets that do not currently offer enough liquidity to support large scale deposits and loans. As of Q4 2019, investors with large crypto asset balances would not find Nuo Network to be an adequate option.
- Ethereum Assets Only - Nuo Network currently only supports ERC20 crypto asset loans and interest accounts.
- Smart Contract Risks - Nuo Network’s smart contracts are publicly verifiable, audited, and fully transparent. The team has taken all the appropriate steps with regards to security. This being stated, smart contracts are still experimental technology with potential unforecasted risks.
Frequently Asked Questions
Is Nuo Network safe?
Nuo Network’s smart contracts are audited and secured by Quantstamp. Thus far, the protocol has had zero security issues.
Can I borrow stablecoins on Nuo Network?
Does Nuo Network require users to KYC?
No. Users can access the platform via their Metamask wallet or signup with a password. Neither option requires a KYC process.
Are my crypto assets insured on Nuo Network?
Nuo Network is not a regulated and licensed entity. This means that crypto asset balances deposited as collateral into their smart contracts are not insured.
Does Nuo Network have any geographic or country restrictions for users?
Nuo Network is available to users seeking crypto asset loans worldwide. There are no country or geographic restrictions when accessing the platform.
Nuo Network launched on the Ethereum mainnet in early 2019 and has become one of Asia’s most successful decentralized finance protocols. The platform offers decentralized margin trading, interest accounts, and crypto loans.
The company behind Nuo Network is backed by Consensys Ventures and has made considerable progress towards their ultimate goal of providing decentralized financial products to a global market. We expect tokenized bonds, securities, additional stablecoins, and more crypto assets to become available on Nuo Network in the future.
Blockfer currently only recommends Nuo Network to privacy focused users with limited crypto assets. The protocol does not have enough liquidity to support large scale investors. If privacy is not an essential factor, we recommend exploring other crypto loan platforms.
|Learn More||Best Features|
Nuo Network Official Website
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Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.
The crypto lending platforms found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our crypto loan reviews and comparisons include: APY rates, available assets, loan amounts, loan options, LTV ratios, platform fees, reputation, ease of use, loan terms and fees, and customer support.
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