Nexo

Nexo

Nexo is a CeFi platform that offers crypto savings accounts and crypto loans. Savers can expect attractive interest rates and borrowers can choose from a wide selection of crypto-collateralized fiat loans.

Savings Accounts
30
Collateral
32
Loans
Clarity of interest policies
Jurisdictions
200+
Languages
EN, GER +8
CeFi/DeFi
CeFi
Business Accounts

Pros

  • The user can choose between flexible withdrawal and a one-month lock-up period, which pays higher interest, or a 3-month lock-up for fiat currencies. For the Nexo token even 12 months are possible

    lockup

  • The collateral exchange option allows users to swap loan collateral into another currency. That could be useful during a market crash to avoid liquidation by moving collateral into another currency.

    Loans

  • 40+ fiat currencies available as loan currency

    Currencies

  • High interest rates also for investors who have low deposits (shrimp) and large deposits (whales) amount in their savings account (Whale) compared to other platforms, if they meet certain requirements, such as participating in a loyalty program

    Savings Accounts

  • No withdrawal fees

    Fees

  • Daily compounded interest

    Compound interest

  • Nexo's custodian is Bitgo, which has a good reputation in the industry

    Crypto-Custody

  • Nexo offers different ways to get higher rates such as loylaty programs, lockup terms, and payouts in Nexo tokens

    Maximum Interest

  • Users receive an email alert when logging into their accounts to confirm the login is legit

    Security settings

  • Nexo.io offers multiple language options

    Languages

All pros

Cons

  • The savings rates are very low if you exceed the maximum threshold of your respective loyalty tier.

    Savings Rates

  • During the crypto flash crash in March 2020, Nexo liquidated significantly more crypto loans than other platforms and there were negative reviews about technical problems and lack of customer support

    Stress Test March 2020

  • Withdrawal can take 24h even for cryptocurrencies if its a new or a larger account

    Withdrawal Speed

The interest rates at Nexo

  • Earn Interest
  • Borrow Money
BTC
BTC
BCH
BCH
LTC
LTC
BNB
BNB
DAI
DAI
EOS
EOS
ETH
ETH
HUSD
HUSD
LINK
LINK
PAX
PAX
PAXG
PAXG
TRX
TRX
TUSD
TUSD
USDC
USDC
USDT
USDT
XLM
XLM
XRP
XRP
DOT
DOT
ADA
ADA
DOGE
DOGE
SOL
SOL
AVAX
AVAX
MATIC
MATIC
NEXO
NEXO
AXS
AXS
FTM
FTM
ATOM
ATOM
KSM
KSM
NEAR
NEAR
APE
APE
3 - 7%
1.5 - 7%
4%
8%
4 - 8%
4 - 8%
4%
8%
8 - 12%
4 - 12%
4%
8%
4 - 8%
1.5 - 8%
8 - 12%
4 - 12%
3 - 7%
1.5 - 7%
8%
12%
3 - 7%
1 - 7%
4%
8%
8 - 12%
4 - 12%
8 - 12%
4 - 12%
8 - 12%
4 - 12%
4 - 8%
4 - 8%
4 - 8%
1 - 8%
10 - 15%
10 - 15%
4%
8%
0 - 3%
0 - 3%
4 - 8%
4 - 8%
7 - 12%
7 - 12%
10%
16%
4%
12%
4 - 8%
4 - 8%
4%
8%
4%
8%
4 - 8%
4 - 8%
4 - 10%
4 - 10%
4 - 9%
4 - 9%
0.2 - 8.5%
0.2 - 7%
0.1 - 8%
0.1 - 8%
0.1 - 8%
0.3 - 12%
3 - 8%
0.1 - 8%
8 - 12%
4 - 12%
0.1 - 12%
0.1 - 7.2%
4 - 8%
0.1 - 12%
0.4 - 12%
0.1 - 12%
0.1 - 8%
2.5 - 8%
1 - 8%
1.1 - 15%
0.1 - 10%
0 - 3%
0.2 - 10%
0.2 - 12%
1.1 - 16%
7 - 12%
3 - 8%
0.4 - 8%
0.4 - 8%
4 - 8%
0.2 - 10%
4 - 9%

How to earn the highest interest rates with Nexo

check-circle-orange

Savers holding at least 10% of their portfolio (savings accounts and credit accounts) in NEXO tokens are in the platinum loyalty tier and thus eligible for the highest interest rate.

check-circle-orange

Dependend on the loyalty tier, savers can get up to 2% additional interest if they agree to receive their interest payments in NEXO tokens, and another +1% if they agree on a one month fixed term deposit (not possible for stablecoins). There are also 3 months and 12 months terms available for NEXO tokens.

check-circle-orange

Each loyalty tier has a threshold from which the interest rate decreases: Base: $50k Silver: $75k Gold: $500k Platinum: $10m If you have more than these amounts in your wallet, your interest rate for the amount exceeding the threshold will be cut significantly.

BTC
BTC
ETH
ETH
XRP
XRP
BCH
BCH
LTC
LTC
BNB
BNB
EOS
EOS
LINK
LINK
XLM
XLM
NEXO
NEXO
TRX
TRX
PAXG
PAXG
USDT
USDT
USDC
USDC
PAX
PAX
TUSD
TUSD
DAI
DAI
HUSD
HUSD
ADA
ADA
DOT
DOT
DOGE
DOGE
SOL
SOL
MATIC
MATIC
UNI
UNI
AXS
AXS
FTM
FTM
ATOM
ATOM
MANA
MANA
KSM
KSM
SAND
SAND
NEAR
NEAR
APE
APE
Basic
Min
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%
Basic
Min
11.7%
0%
9.5%
0%
13%
0%
11.4%
0%
11.7%
0%
13.9%
0%
11.6%
0%
10.9%
0%
13.9%
0%
13.9%
0%
11.5%
0%
8.1%
0%
8.7%
0%
11.4%
0%
8.2%
0%
7.7%
0%
13.9%
0%
11.4%
0%
13.9%
0%
13.9%
0%
7.5%
0%
7.5%
0%
7.5%
0%
13.9%
0%
13.9%
0%
13.9%
0%
5.2%
0%
13.9%
0%
13.9%
0%
13.9%
0%
13.9%
0%

How to get the cheapest crypto loan with Nexo

check-circle-orange

To get the lowest interest rates on loans, borrowers need to hold at least 10% of their portfolio (savings and credit accounts) in NEXO tokens.

Leading platform for fiat-loans

Nexo is a crypto lending platform from Europe that offers fiat-loans in more than 40+ currencies and interest rates on both loans and savings accounts are competitive. With Bitgo, Nexo works with a legit and safe custodian and there are no withdrawal fees. Nexo runs a competitive platform with perks for both savers and borrowers.

Nexo

Nexo in the CryptoStudio-Check

Overview
Platform Score
based on 5 categories
Search icon Savings Accounts
based on 9 criteria
Search icon Crypto-Loans
based on 10 criteria
Search icon Security
based on 8 criteria
Search icon User Experience
based on 13 criteria
Search icon Business Review
based on 5 criteria

Savings Accounts
Rating:
Search icon Currencies:
30: BTC, BCH, LTC, BNB, DAI, EOS, ETH, HUSD, LINK, PAX, PAXG, TRX, TUSD, USDC, USDT, XLM, XRP, DOT, ADA, DOGE, SOL, AVAX, MATIC, NEXO, AXS, FTM, ATOM, KSM, NEAR, APE
Search icon Shrimp:
Investors whose investment amount is less than <25,000 USD count as shrimp and receive an interest of 3 - 7% on BTC, 4 - 8% on ETH, 8 - 12% on USDT.
Search icon Whales:
Investors whose investment amount is above >25,000 USD count as a Whale and receive an interest of 1.5 - 7% on BTC, 1.5 - 8% on ETH, 4 - 12% on USDT.
Search icon Options to earn higher rates:
The more NEXO tokens a user holds in his portfolio, the higher the interest rate. The Portfolio balance comprises the value of all assets in both the credit line AND savings wallets:

Base: up to 1% NEXO tokens in portfolio: 4% interest on volatile cryptocurrencies, 8% on stablecoins and fiat

Silver: 1-5% NEXO tokens in portfolio: 4.25% interest on volatile cryptocurrencies, 8.25% on stablecoins and fiat

Gold: 5-10% NEXO tokens in portfolio: 4.5% interest on volatile cryptocurrencies, 9% on stablecoins and fiat

Platinum: at least 10% NEXO tokens in portfolio: 5% interest on volatile cryptocurrencies, 10% on stablecoins and fiat

Additionally, investors can choose to receive their interest payouts in NEXO tokens to receive 2% higher rates, and +1% of they choose to earn in fixed term deposits instead of flexible payouts (not possible for stablecoins). Apart from earning interest, NEXO token holders get a share of the company profits in form of a dividend (which is not included in the maximum interest rate displayed here).
Search icon Lock-up Periods:
Choice between flexible and a one month lock up period (or three months for fiat, or 12 months for NEXO tokens)
Search icon Minimum Deposit:
No minimum deposit
Search icon Withdrawal Limits:
Cryptocurrencies: (Starter: $20k/day; Basic: $20k/day; Advanced: $500k/day) Fiat currencies: (Starter: $0, Basic: $0, Advanced: $100,000/day)
Search icon Currency of Interest Payments:
Investors can choose to receive their interest payments in-kind (same as deposit currency) or in NEXO token. Receiving interest in NEXO token enables investors to get a higher interest rate

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Crypto Loans
Rating:
Search icon Maturity:
12 months credit line, with unlimited extensions. Borrowers only pay interest for the amount of credit they have actually borrowed.
Search icon Minimum Loan:
10 USD
Search icon Maximum Loan:
2 million USD
Search icon Loan currency:
Fiat & Crypto
Search icon Accepted Collateral:
32
Search icon Loan Liquidation:
There are three Margin Calls at 71.4%, 74.1%, 76.9% LTV, and liquidation occurs at 83.3%. Nexo will then partially liquidate the borrower's collateral to reinstall an LTV of less than 80%.
Search icon Stress Test:
During the crypto flash crash in March 2020, Nexo liquidated a signifcant amount of loans and there were complaints about inefficient margin call procedures, technical problems, and lack of customer support. However, during the crypto crash in mai 2022, there were no major problems at Nexo, which suggests there were improvements made in their risk management
Search icon Base Rate:
13.90% for all loans
Search icon Minimum Interest:
In order to receive a Credit Line Interest Discount, clients must hold a certain percentage of their portfolio assets in NEXO tokens. The Portfolio balance comprises the value of all assets in both the credit line AND savings wallets. The higher the percentage of NEXO tokens, the lower the interest rate:

Base: up to 1% NEXO tokens in portfolio: 13.9% interest
Silver: 1-5% NEXO tokens in portfolio: 12.9% interest
Gold: 5-10% NEXO tokens in portfolio: 8,9% interest
Platinum: at least 10% NEXO tokens in portfolio: 6.9% interest

The lowest possible rate is currently at 0.00% for all currencies
Search icon Loan to Value Ratio:
Depending on the currency of the collateral, up to 70%

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Security
Rating:
Search icon Withdrawal Speed:
Cryptocurrencies: (Starter: $20k/day; Basic: $20k/day; Advanced: $500k/day) Fiat currencies: (Starter: $0, Basic: $0, Advanced: $100,000/day)
Search icon Regulations:
Regulated in Estonia, Switzerland, and Cayman Islands
Search icon Team Transparency:
CEO gives interviews and public presentations, the team is not mentioned on the website but on LinkedIn
Search icon Crypto-Custody:
Nexo's custodian is Bitgo, which has a good reputation in the industry and has $100m insurance for Nexo's assets
Search icon Security Settings:
Nexo offers most industry-standard security settings such as 2-factor-authentication, ID Check, and login Email alerts
Search icon Terms & Conditions:
Nexo has the right to use the assets deposited by savers or borrowers for investment purposes. That includes giving loans to third parties
Search icon Transparency:
Nexo publishes a reserves audit conducted by Armanino
Search icon Security Hacks:
There are no reports about any successful security hacks

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User Experience
Rating:
Search icon Account Opening:
Fast and straightforward, takes less than 5 minutes
Search icon Business Accounts:
Yes
Search icon Mobile App:
Android and iOS, can be used as a standalone App
Search icon Desktop App:
Yes
Search icon Wallet address book:
Yes
Search icon Reporting:
The reporting shows the total interest earned but there is no other form of reporting. The email reporting is acceptable, it is possible to download a CSV file showing the wallet history
Search icon Coin-Reporting:
Nexo provides reporting in the respective cryptocurrency and in US dollar
Search icon Look & Feel:
Well-designed app but not feature-rich
Search icon Customer Service:
24/7 live customer chat support, comprehensive FAQ, customer service answers questions quickly and provides useful answers
Search icon Clarity of interest policies:
The website does clearly explain the interest rate policy after login, but not on the homepage. The rates displayed on the homepage are based on investors holding part of their assets in NEXO tokens. Without holding these NEXO tokens, the actual interest rates will be lower than the rates advertised on the website
Search icon Countries:
200+
Search icon Fees:
Depending on your Loyalty tier, you will receive between 1 and 5 monthly crypto withdrawals to an external wallet that are feeless
Search icon Languages:
EN, GER +8

Did you find outdated information? Write us a message.

Business Review
Rating:
Search icon Financing:
Nexo raised $50 million with an ICO in 2018. The company is profitable
Search icon CEO Track Record:
Nexo is CEO and founder Antoni Trenchev's first entrepreneurial project of this scale. Prior to Nexo, he was involved in politics and had advisory roles
Search icon Assets under Management:
12bn in AuM according to Nexo (as of May 2022)
Search icon User Base:
According to Nexo they have more than four million users on their platform so far (as of May 2022). Nexo does not publish exact figures. CryptoStudio has asked for information and has not received an answer
Search icon Community Interaction:
Does participate in public discussion online but does not provide detailed answers to CryptoStudio's inquiries

Did you find outdated information? Write us a message.

Nexo

Nexo Look & Feel

Nexo's app is easy and straightforward to use. The app is available in 10 languages and customer support answers quickly and thoroughly.

Registration process

Registering with Nexo is easy and straightforward and takes only a few minutes.

Step 1

Nexo is available for desktop and you can download their mobile app for Android (APK) and iPhone (iOS). To register on dektop, click "Create Account" in the upper right corner.

Step 2

Start the registration process through the desktop app at www.nexo.io or on your smartphone and create a user Account.

Step 3

Click on "My Profile" in the upper right corner and verify yourself. For the Basic Verification you only need to provide your name, address, and phone number.

Step 4

You can now use Nexo.io. If you want to increase your limits, you have to complete the Advanced Verification under "My Profil" using your ID card.

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