Nuo Network Interest Account Review
- Retail Lenders
- Market Makers
- Privacy Focused Users
Nuo Network is a decentralized debt marketplace built on an Ethereum based protocol. Peer-to-peer lending powered by smart contracts enable users to earn interest on their crypto assets.
Nuo Network Interest Account - 2020 Comprehensive Review
Nuo Network Interest Account Overview
|APY Rates||0.00% - 0.03%|
|Interest Earning Assets||USDC, DAI, WBTC, ETH, TUSD, MKR, ZRX, REP, SNX, KNC, LINK|
|Rate Variability||High Variable|
|Earn Interest on||Stablecoin, Crypto|
|Deposit Amounts||$1 - $200,000|
|Token Benefit||No Token|
|Platform Type||Decentralized Lender|
|Platform Fees||No Fees|
|Supported Regions||All Countries|
|Excluded Regions||Sanctioned Countries|
Nuo Network Interest Rates (APY)
|Earn On||APY Rate|
Nuo Network Interest Account Alternatives
Pros and Cons
- Fees - There are currently no platform based fees when using Nuo Network.
- Transparency - Nuo Network smart contracts are open source and publicly verifiable. Every transaction on the platform is recorded on the Ethereum blockchain.
- Non Custodial - User funds are held in decentralized smart contracts. At no point does the Nuo Network team or platform itself have custody of user crypto assets.
- Privacy - Using Nuo Network does not require account creation or any personal documents. The platform can be accessed from any location in the world without restriction.
- Community Support - The team is easily accessible for questions in their Telegram & Discord channels.
- Custom Debt Reserves - Users can create debt reserves of any time duration using the funds in their Nuo account. There are no lock-up periods and funds can be withdrawn at any time.
- Institutional Backing - Nuo Network has captured the attention of several prominent VCs whom have recently invested in the team behind the protocol.
- Not Insured - Nuo Network is not licensed or regulated. Smart contract held crypto asset balances are not insured.
- Not For Beginners - Nuo Network is non custodial. This means that users must be able to operate individual crypto asset wallets and maintain responsibility for their private keys. Blockfer recommends centralized interest platforms for beginners as the lending process is considerably more straightforward.
- Variable APR Rates - Interest on debt reserves are paid on a daily basis. These rates are subject to change based on supply and demand, making it difficult to predict long term interest APR on lent crypto assets.
Frequently Asked Questions
Is Nuo Network safe?
Nuo Network is non custodial - meaning that the platform does not have access to user crypto assets. The main risks associated with Nuo Network are smart contract breaches and/or failure and abnormal price volatility (flash crash or flash surge) of collateralized crypto assets.
Does Nuo Network have a token?
Nuo Network is a protocol without a native ERC20 token.
What trading options are available on Nuo Network?
Nuo Network currently supports decentralized margin trading. Spot trading and futures trading are not available.
Does Nuo Network require users to KYC?
No. Nuo Network does not require KYC or any personal information in order to access and use the platform.
Is Nuo Network a regulated platform?
Nuo Network is not licensed or regulated by any financial governing body or agency.
Nuo Network is an innovative peer-to-peer debt marketplace powered by Ethereum smart contracts. Users can lend and earn interest on 10+ crypto assets at variable APR rates with no fees or asset lock ups.
The team behind the Nuo Network platform has recently raised several million USD from prominent VCs in the blockchain space. It is quite clear that there is institutional level confidence in the progress of the platform.
Blockfer does not recommend Nuo Network for beginner level users. The platform requires operational knowledge of Ethereum supported wallets and private key ownership. For more advanced users seeking to earn interest on their crypto assets without compromising privacy, Nuo Network is an option worth considering.
We remind our audience that the Nuo Network platform is experimental technology still in its early stages. Users should proceed responsibly and not lend more than they can afford to lose.
|Learn More||Best Features|
Nuo Network Official Website
Legal & Regulation - Facts & Figures
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Methodology: How We Review And Compare
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 interest product providers found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our interest product reviews and comparisons include: APR rates, compound interest, available assets, terms and fees, and deposit amounts.
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