Nexo Review – Earn 10% passively, Instant Lending, & More

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Nexo is on a mission to maximize the value of your crypto holdings. They’re doing this with a myriad of offerings from crypto credit lines to high-yield earning accounts.

Nexo continues to offer a sophisticated platform. That you can use to leverage your digital assets. This review will unpack all that Nexo provides.

Nexo background

Launched in 2018 by fintech group, Credissimo, Nexo provides banking services for user’s digital assets. Co-founders include Antoni Trenchev, Georgi Shulev, and Kosta Kantchev; each co-founder has some experience in either eCommerce or financial space. 

Also, some of the same team and board of advisors from Credissimo are closely tied to Nexo. This is positive, as the 10 plus years of experience Credissimo provides can be used to grow Nexo users’ base. 

Nexo is based out of London and is trusted as a top tier lending crypto source in the Defi space. Processing more than 3 billion for over a million users. Lending is done throughout the world in 200+ jurisdictions. This allows users of all backgrounds to borrow on their crypto in exchange for fiat. 

What is Nexo  

Nexo combines elements of fintech with blockchain technology. To introduce financial services for crypto assets. It’s one the first to provide instant crypto-backed loans along with a number of other services.

Allowing users to maximize their crypto holdings. Examples of these services are high-yield earning on crypto, sophisticated trading, and crypto credit cards.  

As mentioned, Nexo’s primary service is its crypto-backed loans. Which is perfect for hodler’s looking to liquidate their crypto holdings without selling it. This is done through crypto collateralized loans. Below we compiled a list of some of the highlights and features Nexo offers.


  • Instant Credit Line – Access cash conveniently without the hassle of credit checks. 
  • Retain Ownership – Maintain 100% ownership of their digital currency without having to sell off for fiat.
  • Earn on Crypto – earn up to 12% in high-yielding interest


  • Nexo Loans Are Over Collateralized – This means users can only borrow a fraction of the value they own in Crypto.
  • Custodial Wallet – There is no true ownership of crypto as Bitgo owns the private keys.

Core Features & Highlights

Nexo Wallet – Send & Receive Crypto

Nexo uses Bitgo as its primary custodian to hold users’ digital assets. Bitgo is a digital asset trust company. With Bitgo’s custodianship, clients can send, receive, and store digital assets through their digital wallet services. Nexo Wallet is secured by 256-bit and is insured for up to 100 million USD.

Borrow Cash or Stablecoins 

Nexo bank account offers users instant crypto credit lines. Users borrow against their digital assets. Receiving a credit line in either fiat or stablecoins. Once a user’s wallet has been topped off with cryptocurrency. 

A credit line will instantly present itself in the users’ accounts. The process is mostly automated. It does not require pre-qualification like a user’s credit history.

You can borrow against a myriad of cryptocurrencies. Bitcoin, Ripple, Ethereum, Chainlink, Bitcoin Cash, and Stellar just to name a few. The fee structure is very straightforward. With outstanding interest on crypto back loans starting at 5.9% APR

The minimum LTV (Loan-To-Value) is 50%. This means customers looking to borrow fiat needs to put up at least 50% of their cryptocurrencies as collateral.

Besides this being a legal requirement, this is done to mitigate risk in the case the loan becomes under collateralized. 

Nexo Credit Card

Nexo credit card image, courtesy of Nexo

Powered by Mastercard, Nexo is one of the first to provide a crypto credit card. The credit card allows users to use their digital assets without actually spending it. Users are given an instant crypto credit line that is backed against their crypto holdings. 

Users can spend however they want without having to sell cryptocurrencies for fiat. 

The Nexo Mastercard is free and has an additional virtual card. There are no monthly, annual fees, or minimum monthly payments. 

The loan limit for the card is based on the current market value of the crypto asset possessed in your Nexo account. Another perk of the Nexo card is users can get 2% cashback with all purchases.

You can choose between Nexo or BTC to receive cashback returns. 

The credit card hasn’t been released yet. Nexo does plan to release the card, but at the moment an early access link is all we can find.

Earn Interest On Crypto & Fiat

Nexo provides users with a crypto bank account. Here you can earn back interest on digital asset holdings. It’s a fast and easy way to earn a high yield interest rate on fiat, stable coins, and cryptocurrencies like Bitcoin. 

Users can earn up to 10% interest on their crypto holdings. Interest earned is automatically paid into your savings wallet. This is great as the added earnings can immediately compound to further increase your earnings.  

How To Start Earning with Nexo

Nexo homepage screenshot, courtesy of Nexo

1.Create an account 

Sign up for a Nexo crypto banking account. The sign-up process is simple and takes a few minutes to complete.

2.KYC Verification

Users who sign up will go through Nexo’s “Basic KYC” process. Basic KYC verification makes you eligible to earn base interest on Cryptocurrencies. For those looking to earn on fiat, users are required to go through the “Advance KYC” process. 

3.Deposit funds to Nexo Wallet

Once your account has been verified. You can deposit crypto funds to the coin’s specified wallet. As we mentioned earlier, interest is immediately earned and paid back to your savings wallet.  

How Nexo Interest Tiers Work 

For each asset, there are two-tier interest rates. First-tier is a lower base interest rate. This is the interest rate earned if you don’t hold any Nexo tokens in your account. The higher interest can be earned if you hold 10% of your savings wallet balance in Nexo tokens. 

The exact amount of Nexo tokens needed to earn the higher interest rate is typically displayed in the wallet. 

Not only can you earn a higher APY with Nexo tokens users can also receive dividends. These dividends derive from profits that are generated from the Nexo company.

NEXO Tokens 

NEXO token is an attempt to receive financing without the need of attracting traditional capital. The company wants to increase awareness of their services and generate support from the crypto community. 

It’s doing this by letting Nexo members participate directly in the token sale. Users who purchase and hold onto the NEXO tokens receive benefits. Benefits include higher APY on their crypto holdings and Dividends on Nexo profits. 

NEXO token is a utility token offering an interest discount. This feature applies a discount for token holders who choose to use their NEXO token to repay the interest on their loan. In addition, to obtain instant financing based on the tokens value, users can get increased loan limits. 

The token is ERC-compliant and embedded in Ethereum blockchain as a smart contract. Nexo is not listed on major exchanges such as Coinbase and Binance. Which explains its relatively low market capitalization.

NEXO token is currently available on Huobi, HitBTC, and HOTBIT exchanges.  

Is Nexo Safe

There is a risk of holding your digital assets on any platform or exchange. Security risks like third-party hacks, copying, or theft of private keys are always a possibility. 

Nexo has been around for a couple of years and doesn’t have a track record of hacks. 

Nexo is connected to Credissimo, so we can only assume the regulatory requirements and security standards are the same. 

Nexo has chosen BitGo to be its primary custodian for users’ digital assets. BitGo provides cold storage technology in bank-grade Class 3 vaults. 

The platform is SOC 2 Type 2 certified and has authentication mechanisms in place to ensure data authentically. BitGo custody carries 100 million in insurance protection. This insurance policy covers digital assets where the private key is held. 

Furthermore, users can put their own safeguards in place. Utilizing strong passwords or enabling two-factor authentication to maximize security. 

Nexo Fees

Apart from interest, Nexo doesn’t charge any withdrawal fees. In fact, it’s one of the few companies that allows users to send, receive, and pay with crypto without incurring any fees.  

Cryptocurrency Supported

Nexo supports a number of cryptocurrencies ranging from BTC, ETH, XRP to stablecoins. Nexo has a very active community and includes them in the process of adding new coins to the platform. 

Users can also submit a form for tokens/coins. We listed a few of the coin’s users can deposit as collateral.

  • Bitcoin, 
  • Ethereum
  • Ripple
  • Litcoin 
  • Stellar 
  • Bitcoin Cash
  • Chainlink, 
  • TRON
  • PAX
  • Tether 
  • USD Coin

Countries Supported 

Nexo operates globally and products are available worldwide. This isn’t true for all countries, we sourced a list of the countries not supported by Nexo. The list can be found here.

Nexo App & User Experience 

Nexo screenshot, courtesy of Nexo

Nexo does have an app available for iOS and Android users. App store reviews were generally positive. Sprinkled with a few negatives as customers spotted some issues with signing into the app.

Both the web and app version of Nexo works seamlessly and has a fluid experience. It’s easy to understand key information like credit lines or amount stored cryptocurrency. 

Customer Reviews & Support

Users can contact the Nexo support team through email, ticket requests, or live chat. Support is available 24/7 and the team is efficient with their responses. 

It Would’ve been nice to have a dedicated phone line for additional customer support. 

Similar to other companies, Nexo has a help center with helpful articles. Helping its user base answer common questions. The team is also very active on social media, as users can follow them on all major platforms.  

Customer Reviews – With over 2,000+ reviews and earning a 4.8 out of 5 on Trustpilot. We noticed customers were super positive about their experience on Nexo. 

Customers seemed happy with Nexos Intuitive UI, quick customer service, and competitive interest rates. The negative reviews we spotted seem to be either an opinion piece about Nexo services or a misunderstanding of its offerings. 

It’s hard to find a company without a scathing review, but surprisingly we had a hard time finding one. Really speaks to the great customer services Nexo provides its users. 

Nexo Pros & Cons 


Instant credit line – Access cash conveniently without the hassle of credit checks. 

Retain Ownership – Maintain 100% ownership of their digital currency without having to sell off for fiat.

Wide Amount of Crypto Supported – Nexo supports a number of cryptocurrencies ranging from BTC, ETH, XRP to stablecoins.

Customer Support – Mutitple ways to contact support and there quick to respond. 

Earn on Crypto – earn up to 12% in high-yielding interest


Nexo Loans Are Over Collateralized – This means users can only borrow a fraction of the value they own in Crypto.  

Custodial Wallet – There is no true ownership of crypto as Bitgo owns the private keys. 

Present Risk – Although Nexo hasn’t had any issues with managing crypto risk. If you’re lending Nexo crypto to earn on it. You must have confidence that Nexo can liquidate your lending quickly if borrowers default. 

KYC Process – There is a KYC process that users are required to participate in. 


Nexo dashboard image, courtesy of Nexo

Nexo is offering a solid product that is a serious game-changer for crypto banking. Its instant crypto-backed loans are straightforward helping users free up cash with no hassle. 

With the addition of the Nexo credit card, spending your loan will be that more of a breeze. The platform allows you to earn on your crypto holdings. 

Allowing you to earn up to 12% in high-yielding interest paid passively. 

Nexo interest rate isn’t the lowest we’ve seen, but positives like great customer service, clean UI, and robust offerings keep users coming back. 

It’s no wonder why Nexo has been rising in popularity over the past few years. As a result, the Nexo token has grown tremendously in market value. 

The team has made great strides in fostering a fervent community around their crypto token. Which boast huge incentives for long term hodlers. Offering dividends to token holders or increased interest earned on your savings. 

The team has a secure business model as they are fully compliant with security laws. With the help of Bitgo, custodial assets are covered for up to 100 million by the insurance company Lloyd’s. 

If you’re looking for a user-friendly and convenient way to earn or borrow on crypto holdings then Nexo should be considered.