Question 1

What is NEXO used for?

Accepted Answer

NEXO is a utility token that provides benefits such as earning interest on crypto assets, accessing instant loans, and receiving cashback rewards.

Question 2

Why is SOL popular in the crypto market?

Accepted Answer

SOL is popular due to its high transaction speeds, low fees, and scalability, making it a preferred choice for DeFi and dApp development.

Question 3

Can I stake NEXO or SOL?

Accepted Answer

Yes, NEXO can be staked to earn interest, while SOL can be staked to support the Solana network and earn rewards.

Question 4

What makes the NEXO/SOL trading pair attractive?

Accepted Answer

The NEXO/SOL pair combines the utility and financial benefits of NEXO with the speed and scalability of SOL, appealing to both DeFi users and traders.

Question 5

Do I need KYC to use Instaswap? How are transactions secured?

Accepted Answer

No, Instaswap does not require KYC (Know Your Customer) for any swap amount or pair. However, we employ an advanced KYT system powered by a trusted third-party partner. This system automatically checks wallet addresses involved in transactions, ensuring they haven’t previously been flagged for illicit activities, keeping your swaps safe, secure, and private.

Question 6

Is Instaswap decentralized? Does it support centralized (CEX) swaps?

Accepted Answer

Yes, Instaswap is fully decentralized (DEX), meaning all transactions occur directly on the blockchain without centralized intermediaries. We do NOT offer centralized exchange (CEX) swaps, and your funds always remain fully under your control through our non-custodial platform.

Swap NEXO (Ethereum) to SOL (Solana)

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Frequently Asked Questions