Last update: Jun 28, 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. This Nexo review highlights one of the most reputable crypto lending companies on the market. We will discuss the trading platform’s key features and if it’s worthwhile for your goals.

  • 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.

What Is Nexo?

Nexo was established in 2017 by Kosta Kantchev, Georgi Shulev, and Antoni Trenchev, three Bulgarian individuals with experienced in different fintech, financial institutions, and financial services around Europe. The cryptocurrency company is registered in London, England.

Nexo is basically an overdraft blockchain system that enables crypto lending and makes it super easy for users to access crypto-backed loans immediately.

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.

Furthermore, the whole system is built to secure liquidity automatically and with greater flexibility compared to a conventional bank. The network makes it easy for users to get fiat if they want it, while still keeping ownership of their digital assets and digital finances.

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 interest, meaning you earn more due to compounding interest
  • Staking Nexo tokens worth 10% of the total value of crypto assets will give you higher interest rates.
  • Nexo is the world’s first dividend-paying crypto asset in the sense that 30% of the exchange’s profits are shared with its native token holders in the form of dividends.

Nexo’s top cons include:

  • You have to buy Nexo tokens and maintain them 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 credit lines for your Nexo wallet is easy. You can either top up 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. This guarantees that you are less vulnerable to crypto volatility

The Nexo wallet app is available on both Android and iOS mobile phones. If you’re searching for access to the high-yield ‘Earn Interest’ accounts and real-time crypto credits anywhere, anytime, then Nexo wallet is the app for you!

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

  • Bitcoin (BTC)
  • USD Coin (USDC)
  • Ethereum (Eth)
  • EOS (EOS)
  • Litecoin (LTC)
  • Tether (USDT)
  • Pax Dollar (USDP)
  • BNB (Binance Coin)
  • BCH (Bitcoin Cash)
  • TRX (Tron)
  • XLM (Stellar)

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 token, 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.

Also, Nexo recently announced a 100% increased in cryptocurrency savings account interest rates for PAXG, TRX, XLM, LINK, EOS, LTC, BCH, XRP, ETH, and of course, BTC. The rate has been increased to 6% APY, which previously ranged between 4% to 5% on digital assets.

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.

The platform allows users to borrow in stablecoins or cash without a credit check. Rates start at 5.9%, and you don’t need to sell your digital assets. The borrowed amount is called a credit line. You can borrow up to $2 million. You can keep borrowing until you hit credit line.

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 crypto 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 free crypto withdrawals, 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.

Essentially, Nexo customers will get 1-5 free withdrawals per month based on their loyalty tier.

Bank 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 wallet 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.

Furthermore, Nexo serves as as the custodian for all deposits. In other words, the cryptocurrency exchange company stores your cryptocurrencies in cold wallets secured with multi-signatures. It does so via partnership with crypto custodial solution BitGo.

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.

Overall, Nexo remains one of the most secured crypto lending platforms out there. It comes with segregated multi-signature cold wallets, extensive firewall server architecture, biometric-based identity verification, and many more.

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 (iOS) and Google Play (Android). 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.

It is easy to open an account at Nexo. The process takes less than a minute. After the email verification, users can begin earning interest.

The platform offers three levels of verification and KYC. Clients can earn interest on digital currencies while the starter and basic verification levels limit withdrawals to a lower amount. The advanced verification level allows users to earn interest in fiat currencies, and offers higher withdrawal limits when using Nexo accounts.

Basic verification requires investors to provide their full name, address, phone number, and other details. After the SMS verification has been sent to the number, the user can receive a credit line up to $2,000,000 per day and can withdraw $20,000 daily from their savings account.

Investors can enjoy all the benefits of Nexo with the advanced verification level. Investors can withdraw up to $5,00,000.0 from their savings account and as much as $2,000,000 from the credit line.

Bank account transfers are now possible with this advanced stage. It is quick and easy to transfer money from your traditional bank account to your Nexo account. Users are eligible to receive Nexo token dividends after completing the KYC process. They can also apply for the Nexo credit card.

Why Is Nexo Better Choice than Its Competitors?

The company offers more flexibility in terms of withdrawals and daily payments, compared to its competitors.

The traditional banks are Nexo’s primary competitor. They aren’t a threat because clients want real returns and not ideal cash. Because of the risk of inflation, they don’t want low-interest rates on their bank accounts.

Neo banks such as N26, Monzo and Revolut are the second type of competitor. These companies offer interest rates that are lower than traditional banks. It offers a number of additional features, such as faster client onboarding.

Companies like Celsius, and BlockFi, as well as many others, are the third group of competition. The rates are also very similar and subject to change at any time. But in general, Nexo’s crypto interest account rates are competitive with, Celsius, and BlockFi.

Nexo Crypto Exchange Review for Australia

Nexo, one of the most well-known platforms on the market, allows customers to earn compound interest on their cryptocurrency. This is paid out every day. Nexo is a cryptocurrency platform that can also be used as a lending and borrowing platform.

Although it is not considered to be a decentralized app it does use protocols and blockchain technology to facilitate transactions. Not only can the user earn interest using crypto, Pound Sterling (GBP), Australian Dollars (AUD), US Dollars (USD) and Euro (EUR) but they can also borrow crypto coins as collateral. Collateral refers to crypto funds that you would use to secure a loan. If you default, they will either sell it or put it up as collateral. Collateral is not a way to earn interest in crypto.

The Nexo exchange platform’s crypto-card is called the Nexo card. It is used by over 40 million businesses worldwide. This means that users can receive fiat currency whenever needed and can lend to make money with their crypto assets. Nexo offers crypto loans against crypto collateral. Are you unsure how to borrow and earn on Nexo

Nexo, like many platforms, is based upon blockchain. However, it allows crypto loans, which makes it easier to get instant crypto-backed loans.

It was founded in 2018 and has seen a rise in popularity in the cryptocurrency space. Antoni Trenchev, co-founder of Nexo and managing partner is also a member. Nexo’s slogan “Banking on Crypto” is its motto. It aims to replace traditional banking services with crypto assets.

Nexo advocates a model in which users can lend and borrow their cryptocurrencies. Users can deposit, borrow, earn interest, and access fiat currencies instantly without relying on credit scores. Nexo is one platform that allows you to borrow cash and any stablecoins, without having to go through a credit check. Nexo lends cryptocurrencies to other entities. Nexo is a great platform to borrow and earn on savings.

Nexo claims it charges a low fee to open a crypto savings account. Nexo charges no account maintenance fees, which is lower than traditional savings accounts. Users can withdraw fiat and cryptocurrency at any time without additional charges. The transaction fees for the user account are covered. This means that the user does not need to pay brokerage fees when they transfer funds from their exchange wallet into their Nexo account. These fees can vary depending on which broker is used. To start earning interest, there is no minimum amount that must be deposited to a cryptocurrency account.

This Nexo loan review concludes with the statement that crypto lending is one the most innovative things to have happened due to the widespread adoption and popularity cryptocurrency. Nexo is the first platform that offers instant crypto-backed loans. Nexo allows crypto investors to use digital assets and provide collateral for a crypto credit card. has been steady regardless of changes in the market. We want to highlight one thing in our review: the platform is suited for long-term investors looking to grow their wealth through cryptos. Nexo provides a safe and secure way for users to access loans or earn interest. Nexo boasts over 4 billion dollars in assets and more than 1 million users.

On a side note, if you don’t feel like trying Nexo for now and looking for other crypto exchange options, you can check our best Australian cryptocurrency exchanges article.

Nexo Crypto Exchange Review for Canada

Nexo is a popular platform that allows its customers compound interest that is paid every day. Nexo can be used to borrow and lend, as well as being a crypto platform. It is not considered a “decentralized app”, but it makes use of protocols and blockchain technology to perform transactions. You can earn cash using your crypto, fiat currencies such as USD, GBP and EUR. However, you can also borrow cryptocurrency using crypto coins. Collateral is the crypto money you use to obtain a loan. If they don’t pay, they will take it back. Crypto collateral you use does not earn you interest.

Nexo platform’s cryptocard is known as Nexo card. This card is used worldwide by over 40+ million companies. The Nexo card allows users to get fiat currency at any time and lends them crypto assets. Nexo provides crypto loans against crypto collateral. You don’t know how to get started borrowing on Nexo and how to earn?

Nexo, as with most platforms, is built on blockchain. However it offers crypto loans which make it easier to obtain instant crypto-backed loans.

The platform was launched in 2018. It has gained more popularity in cryptocurrency markets in recent years. Antoni Trenchev is co-founder and a managing partnership of Nexo. Nexo’s motto is “Banking On Crypto”, and it attempts to replace traditional banking services by using crypto assets.

Nexo encourages users to not only lend their crypto assets but also obtain loans for them. They can deposit, borrow, earn an interest and withdraw their crypto assets instantly. Nexo is one of many lending platforms that lets you borrow cash and stablecoins without any credit checks. Nexo lends cryptocurrency to other entities. Nexo allows you to borrow money and make savings.

Nexo is supported by blockchain technology, which provides transparency in its operations. It also facilitates Ethereum smart contracts processing and stores tokenized data relevant to the transactions.

Nexo claims to charge a low fee for opening a cryptocurrency savings account. Nexo doesn’t charge any account maintenance fees when compared to traditional savings accounts. The user can also withdraw their fiat or crypto at any time, without any additional charges. It covers transaction fees, meaning that users only need to pay a brokerage fee to transfer money from their Nexo account to their exchange wallet. These fees are dependent on the broker used. For interest to begin earning, the user does not need to deposit a minimum amount of cryptocurrency.

Let’s conclude our Nexo loan review. Crypto lending is one of many revolutionary developments that has occurred due to widespread adoption of cryptocurrencies. Nexo is believed to be the first cryptocurrency lending platform to offer instant crypto-backed loans. Nexo makes it possible for crypto investors use their digital assets as collateral to secure a crypto credit line. has not changed despite market conditions. Our review will conclude with a mention of one thing: The platform is suited for long term investors who plan to leverage cryptos to increase their wealth. Nexo makes it easy for users to borrow money or earn interest. It is safe and secure. Nexo is home to over 1,000,000 users and has assets of over $4Billion.

If you are not ready to try Nexo yet because you want to see other exchanges have to offer, make sure to check this Canadian crypto exchanges comparison review!

Nexo Crypto Exchange Review for UK

Nexo is one the most popular platforms that allow customers to earn compound interest and have their cryptocurrency paid up each day. Nexo is both a crypto platform and a borrowing or lending platform. It can execute transactions using protocols and blockchain technology, even though it isn’t considered a decentralized platform. It allows users to earn money through interest using their crypto, GBP, USD, and EUR. They can also borrow cryptocurrencies with crypto coins as collateral. Collateral are crypto funds you would place as collateral for a loan. If the borrower defaults, they’ll sell it to pay off the debt. The collateral you use to secure crypto does not earn any interest.

Nexo platform’s cryptocard, also known as the Nexo Card, is used by more 40+ million global businesses. Users can obtain fiat currency whenever and wherever they want. By lending, they can also make money off their crypto assets. Nexo allows crypto collateral to be used as a loan. Need to know how you can borrow on Nexo or make money?

Nexo is similar to other platforms. It uses blockchain but allows for crypto loan. This makes it easier for users to access crypto-backed loans immediately.

The platform was created in 2018. In recent years, it has been growing in popularity on the cryptocurrency market. Antoni Trenchev was the co-founder, and is a managing partner at Nexo. Nexo’s slogan, “Banking with Crypto,” is the name of its founder and managing partner. The company aims to replace traditional banking services through crypto assets.

Nexo supports the concept that users can borrow their cryptocurrencies and also get loans. They can also borrow and deposit crypto assets. Users can also earn interest on them. And they can access fiat currencies immediately without having to rely on credit scores. Nexo allows you to borrow cash, or any stablecoins, with no credit check. Nexo lending is a way to lend cryptocurrencies out to other entities. Nexo makes it easy to borrow money or earn interest on your savings.

Nexo has blockchain technology backing it that allows transparency in its operations. It allows for smart contracts to be processed on Ethereum. Additionally, it stores the tokenized data necessary for transactions.

Nexo claims that they charge very little for opening a Crypto Savings Account. Nexo is much cheaper than traditional savings accounts. Additionally, the user has the option to withdraw their cryptocurrency or fiat anytime they wish. It covers the transaction fees for the account. Users only pay a brokerage charge when they transfer from an exchange wallet to their Nexo accounts. These fees will vary depending on the broker. The minimum amount of cryptocurrency that a user must deposit to their account in order to earn interest is not required.

The idea of crypto lending, as we conclude the Nexo loan review, is one that was born out of the widespread adoption and popularity crypto currencies. Nexo is the first to offer instant crypto loans. Nexo allows crypto-investors to use their digital assets and offer them as collateral for a cryptocurrency credit line. has maintained its stability regardless of changing crypto market conditions. At the end of our Review, we want to point out that the platform is suited long-term investors who intend to leverage cryptos to build their wealth. is a secure and reliable platform that allows users to either earn interest or get money via a loan. Nexo has more than 4 billion assets and 1 million users.

By the way, here’s our recently published post about the best crypto platforms to buy and sell Bitcoin and other cryptocurrencies in UK. You can check it out so you can decide whether you want to go with Nexo or try other exchanges.

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.



Disclaimer: is owned and operated by Smart Billions and may contain advertisements, sponsored content, paid insertions, affiliate links, or other forms of monetization.


Nexo User Reviews
4.2/5 from 5 user reviews

Excellent. Fast, reliable. It will take a few days to verify the origin of your accounts. However, this is only applicable if you withdraw or deposit more than 50k US dollars. This is in compliance with EU laws.

Selene Brooks

Nexo was supposed to be the most secure crypto company I've ever invested with. It claims it has 2-step authorisation, but it isn't. It is a 4-digit code. The thief could take all your crypto if you have it written down on your smartphone. Mine was taken by them 90%. It sometimes uses Google Authenticator, but if the person has an unlocked phone, they can use this. Because my Binance account has 2-step authorization, the thief could not get in. The wallet had very little money. I recommend that you choose a crypto company that offers better security.

Dominick Reed

I am very pleased with the services provided by NEXO. It allows me to make passive income from crypto. The app is easy to use.

Perry Evans

Nexo has been a great choice. We are very satisfied with Nexo's flexibility and simple solutions. This project seems to have a professional team behind it.

Kevin Jones

Nexo has been my service for almost a year. I'm very satisfied with the service, and the rewards. The customer service is also excellent and always helpful. They deserve it. I hope they have sufficient funding and reserves to weather the current macro-economic and market crashes.

Albert Hill

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.