Last update: Jun 6, 2022

How to Buy Nexo (NEXO)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Nexo. Depending on where you’re based, you’ll have various cryptocurrency trading platforms to choose from.

In this guide, we not only cover the top 3 global crypto exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Nexo

How to Buy Nexo – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Nexo of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger exchanges.

4. Buy Nexo

Now that you have what you need to buy Nexo, head over to the market or buy section of the cryptocurrency exchange and buy some NEXO.

If the crypto exchange doesn’t have any Nexo on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Nexo first), and trade your Ethereum for Nexo.

Where to Buy Nexo (NEXO)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Nexo

  1. Sign into the cryptocurrency exchange where you bought Nexo.
  2. Move your Nexo to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Nexo.

 

Crypto trading

How to Buy Nexo (NEXO) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Nexo in Australia, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Nexo if it’s available. If the exchange doesn’t have Nexo. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Nexo), and trade your ETH for Nexo.

If you’d like to learn more about the exchanges we like, check our list of the Australian cryptocurrency exchanges.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Nexo (NEXO) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Nexo in Canada, the process remains the same:

  1. Find a crypto exchange below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Nexo if it’s available. If the exchange doesn’t have Nexo. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Nexo), and trade your ETH for Nexo.

Also, check out our comparison of the best cryptocurrency trading platforms in Canada for those looking to learn more about the exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Nexo (NEXO) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Nexo in the UK, the process remains the same:

  1. Find a crypto exchange below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Nexo if it’s available. If the exchange doesn’t have Nexo. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Nexo), and trade your ETH for Nexo.

Also, check out our comparison of the cryptocurrency exchanges in the UK for those curious to know more about the exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Nexo? NEXO Rundown

Nexo is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans. To receive a loan, users must deposit a token such as Bitcoin (BTC), Ether(ETH), Litecoin [LTC]) as collateral.

Nexo offers native token NEXO that can be locked into the platform and grants users discounts on interest accumulated for loans, as well as the possibility to receive interest payments on deposits. Nexo's profits also provide dividends to token holders.

It was first announced in December 2017 and launched on April 2018.

According to its whitepaper, Nexo is the first-ever provider of instant cryptocurrency-backed loans and it intends to solve inefficiencies in the lending market. To manage loans, the automated lending process uses smart contract and an Oracle on Ethereum. The oracle creates a loan by transferring cryptocurrency to a Nexo wallet. Users are immediately allocated the funds. The oracle records the transaction and returns cryptocurrency to the user when the deposit is made in order to repay the loan. Smart contracts are used for NEXO's power and to track user balances.

Nexo is market to institutional and individual investors, cryptocurrency exchanges, miners, and other people who need liquidity for their assets. It makes a profit on interest accrued on loans and also offers consulting and institutional lending services.

Nexo wants to create a client base that continues to use the platform and remains invested in NEXO. The company has announced a loyalty program to reward those who keep NEXO in the accounts. This includes higher interest rates for loans, and better yields on savings. Nexo pays 30% of its profits to holders of NEXO tokens in the form dividends.

Related:

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.