NEXO (NEXO) is the native token of the Nexo cryptocurrency exchange and lending platform. It serves several purposes within the ecosystem:

1. Utility Token: NEXO was originally designed to incentivize loyalty to the platform. Users holding NEXO tokens in their accounts on the Nexo platform receive various incentives, such as higher yields on their digital assets, free crypto rewards on card purchases, and borrowing rate discounts on crypto-backed credit lines.

2. Staking Mechanism: Nexo has switched to a staking mechanism, allowing users to earn interest on the NEXO token directly. This makes it an investment asset as well.

3. Loyalty Program: Users can hold NEXO tokens to unlock certain perks according to the platform’s loyalty program. These benefits are tiered by the number of NEXO tokens held and include discounted borrowing rates, increased rewards for each asset swap, and the number of fee-free crypto withdrawals.

4. Governance: The token has been used by the company to take votes on governance proposals to decide on how to direct platform efforts.

5. Dividend Payments: NEXO token holders have received multiple dividend payouts, including one totaling over $20 million in 2021. After this dividend, the Nexo community voted to continue profit-sharing through daily interest for NEXO holders rather than as lump-sum dividends.

6. Trading Fees: NEXO can be used to pay platform trading fees, which grants a discounted rate compared with paying by other means.

Overall, the NEXO token plays a central role in the Nexo ecosystem, providing users with various benefits and incentives while also serving as a governance and dividend-paying mechanism.

To store NEXO tokens, you can use a variety of wallets that support the Ethereum blockchain, as NEXO tokens are issued under the ERC-20 standards. Here are some options:

1. Nexo Wallet: You can store NEXO tokens directly on the Nexo platform, which offers a built-in wallet. This wallet allows you to manage your NEXO tokens, receive interest, and participate in governance votes.

2. Zengo Wallet: Zengo is a non-custodial wallet that supports NEXO tokens. It offers a user-friendly interface, allowing you to buy, view, trade, send, and receive NEXO tokens directly from your mobile phone. Zengo also provides real-time market tracking and historical charts.

3. Ledger Hardware Wallet: Ledger offers a secure hardware wallet solution that supports NEXO tokens. You can store your NEXO tokens offline, ensuring they are resistant to malicious attacks. Ledger also provides a Ledger Live App that allows you to manage your assets, track transactions, and swap between different cryptocurrencies.

These wallets provide a secure and convenient way to store and manage your NEXO tokens.

To buy NEXO tokens, you can follow these steps:

1. Using the Nexo App:

   • Deposit USD, EUR, or GBP via a secure bank transfer. EUR and GBP transfers are instant, while USD wires take up to 2 business days.
   • Go to the Exchange tab inside the Nexo app and swap your funds for NEXO tokens.

2. Changelly:

   • Use various payment methods like credit/debit cards, Apple Pay, Google Pay, bank transfers, and more.
   • Select the crypto you want to purchase, the fiat currency, and your country of residence.
   • Verify your identity and confirm your payment.

3. Binance:

• Create a free account on the Binance website or app.
• Deposit fiat currency from your bank account to Binance.
• Use the amount to buy NEXO tokens. You can also buy a stablecoin like USDT first and then use it to buy NEXO.

4. Pionex:
   • Register a Pionex account and pass KYC verification.
   • Choose your preferred method to buy NEXO, including credit card, debit card, bank wire, and ACH transfer.

These methods offer various payment options and different fees, so you can choose the one that best suits your needs.