I’m building on @Stacks with @easya_app on my #60DaysOfStacks
Discovering how I can…
₿ Write smart contracts on Bitcoin
🏦 Tap into the most widely-held crypto
⛓️ Leverage Bitcoin’s security
Who’s with me?
@JaneMendozzzz@Nexo While it’s true that the 0.5% cashback is given, the overall financial benefit can be misleading if the 1.01% repayment fee isn’t clearly communicated alongside with that marketing, this is ending in net losses not profits like an "cashback" should be.
@JaneMendozzzz@Nexo Indeed,the choice to earn in BTC or NEXO tokens offers flexibility. However, it’s essential for users to be aware of the net impact of fees on rewards.Informed decisions, that's what I'm asking, I'm not leaving nexo I'm just asking you to remove the BTC choice as is it misleading
@EmYamss@Nexo Don't you feel mislead when you have a cash back of 0.5% but at the and you are loosing money? 🥲
This practice is playing on the line of laws, just remove the marketing of cash back and say is as it is.
Users have to choose the nexo token to have some benefit.
@EmYamss@Nexo Eu protects consumers against unfair practices, such as false claims and misleading offers. This includes any practice that misleads the consumer through false information or that deceives the consumer, leading them to make a decision they would not have otherwise made.
@JaneMendozzzz@Nexo For those opting for BTC cashback,????
the effective benefit reduces to less than the fee itself, resulting in a net loss rather than a gain.
@JaneMendozzzz@Nexo Certainly, fees are a part of financial services, but transparency is key. A 2% cashback is attractive, yet when offset by a 1.01% fee, the net gain is reduced. Debit mode may avoid fees, but clarity on net benefits helps consumers make informed choices. #ConsumerRights
@EmYamss@Nexo While the offer may not be a scam in the legal sense it does raise questions about the clarity and fairness of advertising financial incentives.
For those opting for BTC cashback the effective benefit reduces to less than the fee itself, resulting in a net loss rather than a gain