Bottom Line
Due to its diverse asset support, competitive fees, and high-yield rewards, Nexo stands out as one of the best platforms to earn interest on crypto. While we encountered minor technical issues during testing, its flexibility surpasses many competitors, making it ideal for users who avoid long-term commitments.
Key Highlights
- Trading Fees: 0.99%
- Supported Currencies: USD, EUR, GBP
- Availability: Global (including the USA)
- Promotion: Receive $25 in Bitcoin after depositing or buying over $100.
Nexo Rating Summary
| Review Criteria | Rating (Out of 5) |
|---|---|
| Features | 5 |
| Supported Fiat & Deposits | 4.6 |
| Crypto & Trading Pairs | 4.4 |
| Fees | 4.6 |
| Ease of Use | 4.5 |
| Customer Support | 4.8 |
| Security | 5 |
| Mobile App | 4.7 |
Pros and Cons
Pros
- Instant Loans: No credit checks required; loans are disbursed immediately.
- Daily Compounding Interest: Maximizes earnings with daily payouts.
- Flexible Repayments: No minimum repayments or hidden fees.
Cons
- Technical Glitches: Login and Pro Exchange access issues were noted.
- Limited Crypto Deposits: Some assets must be purchased via card instead of direct deposits.
👉 Explore Nexo’s features in-depth
Nexo Features
1. Nexo Borrow: Crypto-Backed Loans
- Zero Credit Checks: Ideal for users with limited credit history.
- Loan-to-Value (LTV): Ranges from 30% to 50%, with 0% interest for NEXO token holders (10%+ portfolio allocation).
- Tax Efficiency: Avoid capital gains by borrowing against crypto instead of selling.
How to Get a Nexo Loan:
- Calculate Borrowing Capacity.
- Deposit Crypto as Collateral.
- Withdraw Funds in fiat or stablecoins.
- Repay Flexibly within 1 year.
2. Nexo Earn
- Interest Rates: Up to 12% APY on crypto and fiat (USD, EUR, GBP).
- Loyalty Tiers: Higher NEXO holdings unlock bonuses (up to 15% APY).
- Flexible/Fixed Terms: Choose between daily interest (flex) or locked terms (1–6 months).
3. Nexo Card
- Crypto Credit Line: Spend against collateralized assets.
- Cashback: 0.1%–2% rewards in BTC or NEXO.
- Low APR: 0%–13.9% based on loyalty tier.
👉 Compare Nexo’s card with alternatives
4. Nexo Exchange
- Instant Swaps: 72+ assets with 0.5% cashback for NEXO holders.
- Pro Exchange: 238 trading pairs (spot/futures), though access issues were reported.
Supported Cryptocurrencies
Nexo supports 72 cryptos (BTC, ETH, XRP, etc.), but some (e.g., AVAX) require card purchases.
Fees Breakdown
- Trading: 0.2% (spot), 0.06% (futures).
- Loans: 0%–13.9% APR (discounts for NEXO payments).
| Platform | Loan APR | Trading Fees |
|---|---|---|
| Nexo | 0%–13.9% | 0.2% |
| Binance | 0.47%–39.8% | 0.1% |
| ByBit | 4.36%–14.2% | 0.1% |
FAQs
1. Is Nexo safe?
Yes, Nexo uses 256-bit encryption, cold storage, and $150M custodial insurance.
2. How do I earn interest on Nexo?
Deposit crypto/fiat into Earn wallets and choose flexible or fixed terms.
3. What’s the Nexo token used for?
NEXO unlocks loyalty perks: higher yields, lower fees, and cashback.
4. Can I withdraw anytime?
Flexible terms allow withdrawals, but fixed terms lock funds until maturity.
5. Does Nexo support the USA?
Yes, but some features (e.g., fixed-term Earn) are restricted.
6. How fast are loans processed?
Loans are instant after collateral deposit.
Final Verdict
Nexo excels with high-interest yields, instant loans, and a versatile crypto card, though technical hiccups may frustrate traders. Its robust security and global accessibility make it a top choice for passive income seekers.
For alternatives, consider Binance Earn or Crypto.com, but Nexo’s 0% APR loans and daily compounding remain unmatched.