Nexo is a leading platform for crypto lending and borrowing. It has a large user base worldwide and strong presence in Europe. Nexo, along with BlockFi and Celsius, is one of the “big three” lending platforms. It has a positive reputation in the crypto and FinTech community and is the reason we are pleased to bring you this review.

Nexo is more than a lending platform. It is constantly innovating and has become a leader in FinTech solutions. This platform is also supported by some very influential names in cryptocurrency, which we will discuss later. The NEXO token is gaining momentum and has continued to perform well over the long-term, securing it as a top 100 cryptocurrency.

What is Nexo?

Nexo, a centralized lending institution, has been serving crypto enthusiasts since 2018. Although this platform is one of many available for crypto enthusiasts, it stands out because it allows its users to unlock their cryptocurrency holdings and not have to sell them. This alone is likely to have contributed significantly to the rapid growth and success of this platform.

It also offers crypto-backed loans and interest accounts. The platform offers credit line options for users who have completed a Know Your Customer verification and have deposited cryptocurrency to their Nexo accounts. This platform offers competitive interest rates for those who are interested in earning interest on tokens such as Ethereum, Bitcoin, USDC or any other crypto assets supported.

Although Nexo may offer a wide range of features for crypto users, there are many exchanges and platforms available to them. Nexo is no different from any other financial platform. There are pros and cons to each platform. 

Nexo Ease of Use

Nexo is a great place to start your cryptocurrency savings journey if you have never opened a savings account. Nexo is easy to use and has a clean, simple layout.

Let’s look at some of our favourite features, which make the platform extremely easy for beginners.

You can’t buy cryptocurrency directly through Nexo. The platform is a savings account and cannot be used to top up your cryptocurrency. You will need to have a brokerage account that is funded on another exchange in order to add coins or tokens to your Nexo wallet. We’d love for the lending platform to include on-platform exchange compatibility in the future so that users can purchase and sell cryptocurrency directly from their accounts. Voyager, Gemini, and Coinbase are three of the most trusted cryptocurrency exchanges that you can invest on right now.


Nexo Swaps

Nexo users can trade between 300+ crypto assets and stablecoins, and earn 0.5% cashback, depending on their loyalty level.

It offers swaps at competitive rates through its Nexo Smart Routing System. This system connects users to all 10 top exchanges simultaneously to ensure that users receive the best rates. Swaps can be completed in a matter of minutes and balances are automatically updated so that crypto users don’t have to wait for their exchanges. Swaps can also be placed directly into the customer’s savings account, which means they always earn a nice yield and are convenient all around.

Nexo Booster

Customers of Nexo can increase their portfolio by 3x by using leverage on crypto holdings.

Users can leverage crypto holdings to borrow more money and increase their position in supported assets. This allows customers to use their existing holdings to purchase up to three times as much of their favorite digital asset through financing it with a crypto-backed credit line. Let’s take a look at the process:

Leverage can be used correctly to help investors capitalize on uptrends and buy more during market dips. It also allows them to grow their portfolios with minimal capital.

Nexo Card

You get double the cash back benefits from using crypto cards. You can earn an attractive APY just by saving and get 2% cash back when you spend with Nexo Lending (Earn).

A crypto card can be a great way to unbank yourself and get rid of greedy banks Fat Cats. The choice is up to crypto users: Spend your money in a bank to earn 0.02%, and get 0% cashback on purchases; or save money and use Nexo to earn more than 10% and get 2% cashback for spending. Maybe that wasn’t so difficult after all.

You can also use crypto debit cards to ensure that you take profits in a bull market. The Nexo card can be used anywhere MasterCard is accepted. Here are some benefits:

It is so easy to be able pay in local currencies, especially in Europe, where you can spend in three different currencies as you travel. Get your Nexo card if you are planning a trip. Being able to pay in local currencies is an amazing feature that saves money over using a credit card or traditional bank overseas.

Account Limits and Fees

Nexo is a cryptocurrency savings account that charges very little fees. Nexo is similar to traditional savings accounts. You can withdraw your cryptocurrency at any moment without incurring any fees.

Nexo pays all transaction fees. This means that brokerage fees are not charged if you transfer from an exchange wallet directly to your Nexo account. These fees can vary depending on which broker you use. To earn interest, there is no minimum amount you need to deposit in your Nexo account.

The minimum withdrawal requirements for cryptocurrency vary depending on which type of cryptocurrency you have. Tron, which holds 20 tokens, has the highest withdrawal minimum of 0.001 coins while Bitcoin has the lowest at 0.001 coin. You will need to pay transaction fees to transfer cryptocurrency between wallets. However, depending on your Nexo membership level you may be able to access one or more free withdrawals that will nullify the gas fee.

Nexo also offers crypto loans. Nexo’s crypto loans allow you to keep control of your cryptocurrency and enjoy appreciation benefits without having to sell your crypto to repay your loan. Your collateralized cryptocurrency will be used as payment if you default on your loan.

The platform charges interest on the amount you borrow. Rates start at 6.9% APR. The token or cryptocurrency you use to repay your loan will determine how much you need to deposit.


Nexo is generally safe for your crypto. Although the platform does not have traditional banking backing, they do offer $750 million of insurance to protect their users’ assets. They also provide the standard account security measures, such as two factor authentication.

Nexo vs. Alternatives


Nexo is a complex platform with a steep learning curve. It doesn’t have the right resources to welcome new users. Coinbase is the best-known and most accessible platform for learning about crypto exchanges or getting involved with them.


Nexo is a central exchange. This means that Nexo takes custody of assets and stores them on the exchange for trading. Uniswap is a leader in the industry and a decentralized platform that allows users to retain control over their assets.


Although Nexo’s token collection isn’t as extensive as those of its competitors it doesn’t offer the most options. If you are looking for more variety in tokens, Binance.US is a good option. It offers hundreds of cryptocurrencies to its users.


Nexo quickly grew to be one of the most popular crypto lending platforms in the globe. Without a great product, platform, or team behind it, a platform can’t achieve that level. As crypto adoption continues to rise, lending platforms are gaining popularity. These platforms allow holders to unlock their assets’ value without giving up their ownership. The APYs, which are much higher than any traditional bank institution, and the sweet cashback crypto cards are another attractive feature.

Another positive aspect of the platform’s lending platform is the fact that the team has over 15 years experience in running a financial services company. They have analyzed the market for cryptocurrency lending services and are familiar with how to manage a FinTech business. They have strong backing from partners and advisors from some of the most prominent names in the space.

The crypto lending industry has grown rapidly to be a billion-dollar business. Crypto lending companies have seen some of the most rapid growth and adoption in crypto. If cryptocurrencies rise in value, crypto lending could become a trillion-dollar business. Many financial advisors believe so. Nexo might be worth looking at if you’re looking for a great place to borrow, lend and spend crypto.