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Nexo Review: Is It Worth Banking On?

Nexo is the leading global crypto lending platform. They have a strong European presence and a large global user base. It is considered to be one of the three “big 3” lending platforms along with BlockFi, Celsius. They have a positive reputation among the crypto- and FinTech communities. This is why we are proud to present this Nexo review.

It has grown to be more than just a loan platform. The company is continually innovating and becoming a leader for FinTech solutions. Nexo also has the backing of some prominent names in the cryptocurrency industry, which we’ll discuss later. The NEXO coin has gained a lot of momentum since its launch and continues to perform well in the long term, securing their position as a top-100 cryptocurrency.


What is Nexo exactly?

Nexo is a centralized loan institution that has been providing services to crypto users since 2018. While this platform may be one of the many options for crypto enthusiasts, Nexo is unique in that it allows users to unlock the full value of their cryptocurrency holdings, without selling their tokens. This alone is likely to be a major contributor to the platform’s rapid growth.

This lending platform provides instant crypto-backed loans as well as crypto interest accounts. All users must have passed a Know Your Customer verification procedure and have deposited cryptocurrency in their Nexo account to be eligible for the credit line options. This platform allows users to access attractive interest rates if they are looking for opportunities to earn interest in tokens such Ethereum, Bitcoin and USDC.

While Nexo does offer many features for crypto users and is a great platform, the truth is that there are plenty of exchanges and platforms to choose from. Nexo, like any financial platform, has its pros and cons. This article will help you learn more about Nexo and the pros and cons of other crypto platforms.


Nexo Useability

Nexo is an excellent place for you to begin your savings journey. Its layout is simple, clear, and easy to understand.

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Let’s take an in-depth look at our top features which make it extremely simple for beginners.

  • Sign up in a matter of seconds For most users, creating an account at Nexo takes only minutes. You will need to answer some questions about yourself, confirm your account and then you can get started on a comprehensive mobile or tablet platform.
  • Simple platform. It is also very easy to navigate platform layouts, especially for beginners not familiar with trading or transferring cryptocurrencies. In just a few mouse clicks you can view all of your available credit, hold and pay back any borrowed funds. Nexo offers 2-factor authentication, which prevents any security gaps and ensures maximum protection for your investments.
  • Automated interest calculation, and automatic payment. After your Nexo account is funded and set up, you can rest easy knowing that Nexo will automatically calculate and deposit your daily interest and make the payment directly to your account. Nexo will send you notifications via in-app to let you know when interest is being deposited and how much. Nexo is different from other crypto interest accounts. It distributes the interest every day, so you won’t have to wait until the end of the month before you can reap all of compounding interest’s benefits.

Not only can you not top up your cryptocurrency through Nexo but also the platform does not function as a savings account. With the exception of the Nexo token, you will need a brokerage account to add tokens and coins to your Nexo address. Future Nexo plans to integrate on-platform exchange compatibility, so users can sell and buy crypto directly through their Nexo account. Voyager, Gemini and Coinbase are some of the most reliable cryptocurrency exchanges available.



Nexo Swaps

Nexo allows users to swap 300+ of their favorite crypto assets and stabilizecoins. Users can also earn 0.5% cashback depending upon how loyal they are.

Nexo offers competitive rates for swaps via the Nexo Smart Routing System. It connects users with the top 10 exchanges at the same time to ensure users receive the most cost-effective rates. The swaps happen almost instantly and the balances are updated immediately, so users of crypto don’t need to wait around for their exchanges. All swaps are placed directly in the customer’s savings wallet. This means that they are always earning a good yield and convenience.

Nexo Booster

Nexo customers can triple their portfolios by using leverage from their crypto holdings.

Leveraging crypto holdings allows users to borrow more funds and expand their portfolios in supported assets. Customers can use their current assets to purchase up to 3x more of their preferred digital assets. This is possible by using a crypto backed credit line to finance the acquisition. 

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When used correctly, leverage can help users capitalize on uptrends, purchase more during market dips, grow their portfolios, and do so without the need to invest additional capital.


Nexo Card

The double benefit of crypto cards is the cash back earned. Nexo Lending and Nexo Card allow you to earn a nice APY for saving while earning 2% cashback for spending.

It is a great way of unbanking yourself, and to get away from greedy bank Fat Cats. A crypto user has to choose between saving money at a bank and earning 0.02% in cashback, or using a platform such as Nexo that allows you to save over 10% and get 2% back on spending. Perhaps that wasn’t quite so hard after all.

It is also possible to use crypto debit cards in order to make sure you are making profits during a bull trend. The Nexo Card is accepted everywhere MasterCard is accepted. Here’s a list of benefits:

  • Accepted anywhere in the world.
  • Purchases up to 2% Cashback
  • Secure online payments with additional virtual cards
  • Payments in local currency
  • No inactivity, monthly, annual, or monthly fees

Travellers will find it so convenient to be able to pay in local currency. This is especially true in Europe, where you can easily spend in 3 currencies at once as you cross borders. You can save a lot of money by purchasing a Nexo Card if you have a planned trip.

Fees and account limits

Nexo’s crypto savings account charges only a small amount of fees. The platform charges no account maintenance fees, just like a traditional savings account. You can also withdraw cryptocurrency at any time, without being charged.

Nexo will cover all transaction fees for your account. You’ll only have to pay brokerage fees if you transfer directly from your Nexo account to an exchange wallet. These fees vary depending upon the broker you use. You don’t have to deposit a minimum amount of cryptocurrency into your account to start earning interest.

There are different minimum withdrawal amounts for cryptocurrencies depending on what type you have. Tron’s minimum withdrawal amount is 20 tokens. Bitcoin has the lowest minimum withdrawal requirement at 0.001 Coin. Tron has the highest minimum at 0.001 Coin. Not only will you have to pay transaction fees when transferring cryptocurrency between wallets but, depending on how Nexo is rated, you will be eligible for one or more withdrawals free of charge where the platform will waive the gas fee.

Nexo also offers cryptocurrency-backed loans. Its cryptocurrency loans are unique in that you can retain control over your cryptocurrency, gain appreciation benefits, and not have to sell your crypto to pay your loan back. However, if you default on the loan, your collateralized crypto will be used to repay your loan.

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The platform charges interest for the amount borrowed, as with all loans. Rates start from 6.9% APR. The amount of cryptocurrency you will need to deposit as collateral varies depending on which token or coin you are using to repay your loan.



Nexo makes crypto generally secure. The platform doesn’t have traditional banking support, but it does offer $750,000,000 worth of insurance for users’ assets. It also offers the standard account security features that are typical to other crypto exchanges like two-factor authentication.

Nexo vs. Alternatives


Nexo requires a lot of learning, and it doesn’t have enough resources to help new users. Coinbase is one the most popular and accessible platforms for learning crypto or interfacing with exchanges.


Nexo is a centralized platform. It takes care of your assets while they are stored in the exchange. Uniswap, a leading decentralized platform in the industry, is a good option for users who want to keep control of their assets.


Even though Nexo has a smaller token selection than some of its rivals, it does not offer the largest variety. Binance.US offers hundreds of different coins to users and is an option for those looking for more options.


Nexo has rapidly grown to become the largest cryptocurrency lending platform in the world. It is not possible for a platform to reach this level without a top-quality product, platform, team, and support. Lending platforms are growing in popularity as crypto adoption continues its upward trend towards mainstream adoption. They enable holders to unlock the full value of their assets, without having to give up ownership. A key attraction is the incredible APYs that are higher than what you’d get at traditional banks. And of course the sweet cashback crypto-card.

A positive factor for the lending platform is that the team has more experience than 15 years in the management of a successful financial services firm. It is possible to be certain that they have studied the needs for cryptocurrency lending services, and understand what it takes in order to make a FinTech company a success. They are also supported by some of the top names in the industry as partners and advisors.

Crypto lending has rapidly grown to become a multi-billion dollar industry. The fastest growing and most popular crypto lending companies in the space are those that offer crypto lending. Crypto lending may become a trillion dollar industry if cryptocurrency prices rise, as many financial advisers suggest. Nexo could be a good option if your goal is to find a place that allows you to lend, borrow, spend, and unlock the power crypto has to offer.

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