Nexo

How to register?

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

Collateral

Loans

Clarity of interest policies

Jurisdictions

200+

Languages

EN, GER +8

CeFi/DeFi

CeFi

Business Accounts

Pros

40+ fiat currencies available as loan currency Currencies
Nexo offers fiat savings accounts Currencies
No withdrawal fees Fees
Daily compounded interest Compound interest
Nexo's custodian is Bitgo, which has a good reputation in the industry Crypto-Custody
High base interest rates on saving accounts compared to other platforms Maximum Interest
Users receive an emal alert when logging into their accounts to confirm the login is legit Security settings
Nexo.io offers multiple language options Languages
The user can choose between flexible withdrawal and a one-month lock-up period, which pays higher interst 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

All pros

Cons

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
Address-whitelisting is not possible Security settings
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	BCH	LTC	BNB	DAI	EOS	ETH	HUSD	LINK	PAX	PAXG	TRX	TUSD	USDC	USDT	XLM	XRP	DOT	ADA	DOGE	SOL
Basic Max	4% 8%	4% 8%	4% 8%	4% 8%	8% 12%	4% 8%	4% 8%	8% 12%	4% 8%	8% 12%	4% 8%	4% 8%	8% 12%	8% 12%	8% 12%	4% 8%	4% 8%	4% 8%	4% 8%	0% 3%	4% 8%
Basic Max	2.7% 8.5%	3% 8%	2.2% 8%	3.7% 8.5%	6.2% 14%	3% 8%	2.8% 8.5%	8% 12%	1.5% 8%	7.5% 14%	2.5% 8%	4% 8%	5.8% 14%	6.6% 14%	6.6% 14%	2.5% 8%	3.2% 8%	4.5% 11.2%	2.9% 8%	0.2% 5%	4% 8%

Compare Interest Rates

How to earn the highest interest rates with Nexo

Savers holding at least 10% of their portfolio (savings accounts and credit accounts) in NEXO tokens are eligible for a higher interest rate.

Additionally, savers can get another 2% 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).

Besides the interest payments, Nexo pays up to 30% of their corporate profits to NEXO token holders in form of a dividend.

All information is unofficial and subject to change.

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	BTC	ETH	XRP	BCH	LTC	BNB	EOS	LINK	XLM	NEXO	TRX	PAXG	USDT	USDC	PAX	TUSD	DAI	HUSD	ADA	DOT	DOGE	SOL
Basic Min	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%
Basic Min	11.7% 0.8%	9.3% 0.1%	13% 6.9%	11.4% 0.8%	11.7% 0.8%	13.9% 6.9%	11.6% 0.8%	5% 0.1%	10.9% 0.8%	13.9% 6.9%	13.9% 6.9%	11.5% 0.8%	9.3% 0.8%	9.3% 0.8%	11.4% 0.8%	8.1% 0.8%	8.1% 2.2%	13.9% 6.9%	11.4% 0.8%	13.9% 6.9%	13.9% 6.9%	13.9% 6.9%

Compare Lending Rates

How to get the cheapest crypto loan with Nexo

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.

All information is unofficial and subject to change.

Did you find outdated information? Write us a message.

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. There is one flaw borrowers should consider: During the crypto flash crash in March 2020, Nexo liquidated more loans than other platforms and there were complaints about technical difficulties and lack of customer support. Nevertheless, Nexo runs a competitive platform with perks for both savers and borrowers.

Nexo in the CryptoStudio-Check

Overview
Savings Accounts
Crypto Loans
Security
User Experience
Business Review

Overview

Platform Score

based on 5 categories

Savings Accounts

based on 9 criteria

Crypto-Loans

based on 10 criteria

Security

based on 8 criteria

User Experience

based on 13 criteria

Business Review

based on 5 criteria

Pros

40+ fiat currencies available as loan currency

Currencies

Nexo offers fiat savings accounts

Currencies

No withdrawal fees

Fees

Daily compounded interest

Compound interest

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

Crypto-Custody

High base interest rates on saving accounts compared to other platforms

Maximum Interest

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

Security settings

Nexo.io offers multiple language options

Languages

The user can choose between flexible withdrawal and a one-month lock-up period, which pays higher interst

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

Cons

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

Address-whitelisting is not possible

Security settings

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

Withdrawal Speed

Savings Accounts

Rating:

Currencies:

21: BTC, BCH, LTC, BNB, DAI, EOS, ETH, HUSD, LINK, PAX, PAXG, TRX, TUSD, USDC, USDT, XLM, XRP, DOT, ADA, DOGE, SOL

Fiat Savings Accounts:

Base Rate:

4% for BTC, 4% for ETH, 8% for USDT

Maximum Interest:

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). Altogether, the maximum rate for BTC is [Variable Maximalzins BTC]%, for ETH it's [Variable Maximalzins ETH]%, and for USDT [Variable Maximalzins USDT]%. 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).

Lock-up Periods:

Choice between flexible and a one month lock up period

Minimum Deposit:

No minimum deposit

Compound interest:

Daily payout and daily compound interest if flexible payout is selected

Withdrawal Limits:

Cryptocurrencies: (Starter: $20k/day; Basic: $20k/day; Advanced: $500k/day) Fiat currencies: (Starter: $0, Basic: $0, Advanced: $100,000/day)

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:

Maturity:

12 months credit line, with unlimited extensions. Borrowers only pay interest for the amount of credit they have actually borrowed.

Minimum Loan:

10 USD

Maximum Loan:

2 million USD

Loan currency:

Fiat & Crypto

Accepted Collateral:

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%.

Stress Test March 2020:

Nexo liquidated a significant amount of loans and there were complaints about inefficient margin call procedures, technical problems, and lack of customer support

Base Rate:

13.90% for all loans

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: 11.9% interest Silver: 1-5% NEXO tokens in portfolio: 10.9% interest Gold: 5-10% NEXO tokens in portfolio: 8,9% interest Platinum: at least 10% NEXO tokens in portfolio: 5.9% interest The lowest possible rate is currently at 6.90% for all currencies

Loan to Value Ratio:

Depending on the currency of the collateral

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Security

Rating:

Withdrawal Speed:

Cryptocurrencies: (Starter: $20k/day; Basic: $20k/day; Advanced: $500k/day) Fiat currencies: (Starter: $0, Basic: $0, Advanced: $100,000/day)

Regulations:

Regulated in Estonia, Switzerland, and Cayman Islands

Team Transparency:

CEO gives interviews and public presentations, the team is not mentioned on the website but on LinkedIn

Crypto-Custody:

Nexo's custodian is Bitgo, which has a good reputation in the industry and has $100m insurance for Nexo's assets

Security Settings:

Nexo offers most industry-standard security settings such as 2-factor-authentication, ID Check, and login Email alerts. It is not possible to whitelist addresses

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

Transparency:

Nexo publishes a reserves audit conducted by Armanino

Security Hacks:

There are no reports about any successful security hacks

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User Experience

Rating:

Account Opening:

Fast and straightforward, takes less than 5 minutes

Business Accounts:

Yes

Mobile App:

Android and iOS, can be used as a standalone App

Desktop App:

Yes

Wallet address book:

Yes

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

Coin-Reporting:

Nexo provides reporting in the respective cryptocurrency and in US dollar

Look & Feel:

Well-designed app but not feature-rich

Customer Service:

24/7 live customer chat support, comprehensive FAQ, customer service answers questions quickly and provides useful answers

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

Countries:

200+

Fees:

Depending on your Loyalty tier, you will receive between 1 and 5 monthly crypto withdrawals to an external wallet that are feeless

Languages:

EN, GER +8

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Business Review

Rating:

Financing:

Nexo raised $50 million with an ICO in 2018. The company is profitable

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

Assets under Management:

12bn in AuM according to Nexo (as of April 2021)

User Base:

According to Nexo they have more than two million users on their platform so far. Nexo does not publish exact figures. CryptoStudio has asked for information and has not received an answer

Community Interaction:

Does participate in public discussion online but does not provide detailed answers to CryptoStudio's inquiries

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Nexo Look & Feel

Nexo's app is easy and straightforward to use but it does have a few flaws, for example, it's not possible to whitelist addresses. 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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All information is unofficial and subject to change. Links marked with an asterisk (*) may be affiliate links

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