Nebeus Adds Algorand to Its App

Crypto-backed lending app, Nebeus adds Algorand to its platform, allowing users to hold and exchange ALGO from their Nebeus accounts.

BARCELONA, Spain - February 7, 2022 - (Newswire.com)

As the cryptocurrency and crypto-backed lending app and platform, Nebeus continues to expand and grow its resources; they are always keeping their ears close to the ground to find new ways to help their customers increase and improve their crypto investments.

Recently they adopted Algorand onto their platform, allowing users to buy, sell, trade and exchange the cryptocurrency, with future plans to integrate it into their other services over the coming months.

Algorand is a blockchain and cryptocurrency launched in June 2019 that allows users to accelerate transactions, reduce costs typically associated with crypto transactions, and improve online security.

Why Algorand?

Algorand uses what is known as Pure Proof of Stake (PPoS), which is a consensus mechanism where blocks are chosen at random. This selection process is known as "Cryptographic sortition" and increases security within a blockchain by eliminating the possibility of nodes collaborating. By randomly selecting nodes, Algorand ultimately makes monopolies and 51% attacks impossible.

Another unique function of the Pure Proof of Stake is that users cannot add multiple blocks to the chain at once, which means that a fork can never occur, and transactions are completed at a much faster rate than traditional blockchains.

It is often heard that blockchains are impenetrable, but as cryptocurrencies and blockchain technologies advance, chinks in the armour will undoubtedly be seen. For this very reason, companies such as Algorand are flying the flag for the future of fast and secure crypto transactions.

Algorand services at Nebeus

Much like with Bitcoin, Ethereum and other cryptocurrencies, Nebeus now offers their users a chance to exchange and store Algorand using their app and desktop platform. 

This is a game-changer for anyone wanting to adopt newer, more secure cryptocurrencies without having to worry about switching platforms to exchange, buy, and sell their crypto.

Future Algorand services 

Nebeus plans to integrate Algorand into most of its services, especially crypto-backed lending. That means that Nebeus customers will be able to use Algorand as collateral when they take out crypto-backed loans. This will be great for those who want access to cash while their Algorand matures over time.

Note to Editors

Michael Stroev, COO and Head of Product at Nebeus, is available for interviews or comments.

For press information, please contact:

Doina Serbul | Nebeus

Email: [email protected]

About Nebeus

Nebeus (developed by Money-4 Limited) is one of Europe's leading cryptocurrency & crypto-backed lending apps and desktop platforms that allows people to use their cryptocurrency investments to get instant loans in FIAT currencies or Stablecoins.

Additionally, Nebeus has a whole ecosystem of accompanying cryptocurrency services that let people exchange crypto, earn using their crypto, and even buy $100M insurance for their Bitcoin and Ethereum.

Nebeus was founded in 2014 and operates out of Barcelona, Spain, serving customers across all of Europe.

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Original Source: Nebeus Adds Algorand to Its App