Last update: Apr 15, 2022

Nexo Review

Investing in cryptocurrencies has become an increasingly appealing way to earn passive income. On most cryptocurrency platforms, you leave your cryptocurrencies alone to grow and trade them as the market fluctuates. Alternatively, lending platforms such as Nexo give you new methods to increase your earnings.

  • Nexo

    1. Operating Since 2017
    2. Currencies Supported 40+ cryptocurrencies
    3. Fees Zero fees
    4. Deposit Methods Wire transfer, credit and debit cards
    5. Fiat Currencies Yes
    6. Verification Methods 2FA
    7. Margin Trading Yes
    8. Futures Trading No

Crypto interest or savings accounts permit you to earn even more by letting a parent company use your digital assets to give out loans. After loaning your crypto to the parent company of your crypto savings account, they pay you high interest rates in return.

This Nexo review highlights one of the most reputable crypto lending companies on the market. We will discuss the platform’s key features and if it’s worthwhile for your goals.

What Is Nexo?

Nexo is one of many companies taking part in the decentralized finance industry. Like other crypto lending platforms, it helps users earn interest and take out loans. After Nexo’s launch in 2017, they have accrued billions of dollars in crypto assets.

Nexo is an excellent choice for anyone wanting to break into crypto lending. First of all, the platform has a simple interface. It also does not require an account minimum like many traditional savings accounts.

The company’s founders include Antoni Trenchev, who still plays a large role in the company’s management. Trenchev previously worked with Credissimo, a European lending company. Therefore, the co-founders of Nexo were already experts in money-lending when they founded the platform.

Nexo’s main goal is to make cryptocurrency a viable investment option to the public. In stark contrast to traditional banking, Nexo offers instantaneous loans with no credit score checks due to their use of cryptocurrency. They also minimize the time it takes to obtain a loan compared to a conventional lender.

It’s also important to note that the platform has no conventional asset-selling process. As a result, the Nexus platform helps users avoid the heavy taxation many crypto traders incur.

How Does Nexo Work?

The easiest way to explain Nexo is to compare it to a cryptocurrency bank account. Traditional savings accounts may offer a 5-6% interest rate at the most. On the other hand, you can earn up to 12% interest with some currencies on Nexo.

The main pros of getting a Nexo account include:

  • Earn more money through high interest rates than through traditional bank accounts or investing in crypto on your own
  • You don’t need to sell your assets to get cash, eliminating much of the heavy taxation that crypto sellers face
  • The account pays daily, meaning you earn more due to compounding interest

Nexo’s top cons include:

  • You have to buy and maintain “NEXO tokens” to keep your account perks and unlock higher interest rates
  • Limited number of cryptocurrencies you can use as loan collateral

Cryptocurrencies You Can Buy on Nexo

Getting instant crypto credits for your Nexo wallet is easy. You can either deposit existing funds from another digital wallet or purchase them directly on the Nexo platform. You can buy crypto for your Nexo wallet with euros, American dollars, or British pounds.

Nexo offers more than 40 currencies for purchasing. Some of the most popular currencies include:

  • Bitcoin
  • USDC
  • Ethereum
  • EOS
  • Litecoin
  • USDT

Your order will take one to three business days to process before the currency appears in your wallet. You can also utilize the currencies in your Nexo wallet as collateral if you want to borrow fiat money.

NEXO Tokens

Nexo provides many incentives for users to buy their native cryptocurrency, NEXO tokens. Buying and maintaining NEXO tokens allows you to become a member of the platform’s loyalty program.

The loyalty program has four tiers:

  • Base: NEXO tokens make up 0-1% of your balance in your Nexo account
  • Silver: NEXO tokens make up 1-5% of your balance
  • Gold: NEXO tokens make up over 5-10% of your balance
  • Platinum: NEXO tokens make up over 10% of your balance

Each level of Nexo’s loyalty program comes with a benefits package. For example, the top three tiers of the loyalty program receive exchange cashback. Specifically, silver earns 0.10%, gold earns 0.25%, and platinum earns 0.50%.

Each tier also allows you to earn more interest on your cryptocurrencies. This incentive applies even if the currency you use is not NEXO tokens.

Earn Interest as You Invest

Nexo offers a competitive insurance policy to protect your crypto and earnings. They also have a guaranteed interest rate of up to 12% with a daily payout.

You have two options for payout on Nexo’s platform. You can either “Earn in Kind” or “Earn in NEXO.” You must set up this feature when you first create your Nexo interest account.

If you decide to Earn in Kind, Nexo pays in whatever currency you deposited into your digital wallet. If you Earn in NEXO, the platform compensates you with NEXO tokens. The main benefit of earning in NEXO is getting a higher interest rate.

As of now, Nexo features 17 options for interest-earning cryptocurrencies. The potential interest you can earn on currencies in your Nexo wallet is as follows:

  • Earn in NEXO

○ USDC/DAI/USDT: 12% interest

○ ETH/BTC/XRP/LTC/EOS: 8% interest

  • Earn in Kind

○ USDC/DAI/USDT: 10% interest

○ ETH/BTC/XRP/LTC/EOS: 6% interest

  • Fiat currencies (GBP, USD, EUR): 12% Annual Percentage Rate (APR)


Nexo’s borrowing services are another highlight of this Nexo review.

On the platform, you can get a cash loan quickly with crypto collateral. You must first present your crypto on the platform. Nexo will then give you a loan that corresponds to your collateral.

Because of fluctuating exchange rates, the value of your cryptocurrency may likewise drop. If that happens, you must deposit more crypto to maintain your collateral. If you can’t do so, Nexo reserves the right to sell your provided collateral.

Like traditional loans, Nexo’s loans entail monthly interest and repayment. The monthly interest rate depends on your tier in Nexo’s loyalty program.

The following are Nexo’s high loan-to-value (LTV) interest rates based on your loyalty tier:

  • Base: 13.9%
  • Silver: 12.9%
  • Gold: 8.9%
  • Platinum: 6.9%

Nexo processes loans efficiently, usually within one to five business days depending on where you transfer the money. Local transfers normally take 24 hours while international transfers can take up to five business days.


Nexo has no fees, maximums, or minimums, which many consider one of the platform’s top advantages. However, Nexo does place some restrictions depending on your tier in the loyalty program. Namely, even if you’re in a higher loyalty tier, you can only withdraw cryptocurrency a few times a month.

Specifically, Base level members can only withdraw once a month while silver members can withdraw twice. Gold members can withdraw three times a month and platinum members can withdraw five times a month. Altogether, though you can withdraw funds whenever you want, you must stay within the limit set by your loyalty tier.

Transfers from traditional bank accounts come with no associated costs. However, your bank may still charge a fee not associated with Nexo.

Nexo’s Investing Security

Crypto interest accounts are sometimes high-risk due to lack of backing from organizations such as the FDIC. Moreover, not all crypto savings accounts have the same terms. You should thoroughly research and note each account’s terms and conditions to find the best account for you.

Nexo generally has a high security rating based on user reviews. They have a $375 million insurance policy and plan to increase it as soon as possible. They have also partnered with BitGo and Ledger to encrypt user accounts and prevent theft.

Ledger offers cold storage of financial assets in bank-grade Class III vaults. These vaults enable Lender to provide insurance backing to crypto. Nexo’s insurance policy covers theft of private keys and hacking as well.

Lastly, Nexo strives to comply with local regulations in over 200 jurisdictions. They have a robust legal team that stays up-to-date with ongoing legislation.

Nexo Card

Nexo offers a physical debit card that functions anywhere that accepts MasterCard. Getting the Nexo card means you can use your Nexo interest account in-store. In other words, the card functions just like your bank debit card.

Nexo further incentivizes you to use their card because you earn 2% cashback every time you swipe. You can choose to receive your cashback in either NEXO tokens or Bitcoin.

Customer Service

You can email Nexo’s customer support or contact them through their 24/7 chat box. You can also contact them through social media though they are more active on Telegram.

Unfortunately, some users report that Nexo does not have the best customer service. They claim it is sometimes difficult to get a response from the customer support team. However, the platform has multiple channels to try if you cannot get help through one method.

Other Nexo Features

Once you open an account with Nexo, you can download their mobile app through Apple and Google Play. The app features a straightforward interface and allows you easy access to your Nexo debit card. The platform also offers a desktop app.

Nexo’s platform allows users from many countries though there are some in which it does not operate. Some prohibited countries include Bulgaria, Cuba, Iran, North Korea, and others. Due to local legislation, Nexo also does not operate in the US states of New York or Vermont.

How Do I Open a Nexo Account?

To join Nexo, you can visit their website to start your account. Nexo will proceed to send you an email verification link. Once logged in, you can select Two-Factor Authentication (2FA) to secure your account.

As of this Nexo review, the platform features a promotion where new users can earn $10 in Bitcoin. To participate in this promotion, you have to upload a photo of your government ID. You must also buy at least $100 worth of any Nexo-supported currency and leave it in your account for 30 days.

Is Nexo Worth It?

To sum up this Nexo review, Nexo is a promising option for you if you want to build wealth via cryptocurrency investment. Keep in mind that their loyalty program requires you to own a certain amount of NEXO tokens to reap the maximum benefits. Nonetheless, Nexo is one of the highest-yielding crypto interest accounts in the cryptosphere.

Nexo is also a fantastic way to get an instant loan due to lack of credit score checks. Overall, Nexo’s platform should continue to grow due to its quick loan structure and passive growth opportunities.

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.