Nexo Review: Key Features in 2024

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Mileva Stankovic
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Let’s get one thing straight: this 2024 Nexo review focuses on one thing -- profit. 

The cryptocurrency space has developed a new type of service over the past couple of years: borrowing and lending cryptocurrencies. 

Borrowers can use the extra finances for business endeavors or other profit motives, while lenders earn profit from lending their crypto

But of course, none of this means anything if your money isn’t safe -- if the platform shuts down, gets hacked, or other unfortunate events.

In this Nexo review, I will examine Nexo from every perspective -- so both lenders and borrowers can make an educated decision whether or not they’ll earn profit with Nexo.

Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.

Why Trust Us

Trust CryptoManiaks to be your go-to source for a straightforward Nexo review. Our team delves into the platform's features, interest rates, security measures, and overall user experience, offering a comprehensive analysis that prioritizes clarity and relevance.

With practical experience as active Nexo users, we provide firsthand insights, ensuring our review reflects the platform's day-to-day functionality. Transparent and unbiased, our user-centric approach caters to both beginners and experienced users. Count on CryptoManiaks for a reliable and easy-to-understand Nexo review.

Key Takeaways


  • Nexo, established in 2018, is a trusted crypto lending platform under Credissimo
  • Borrowing service allows quick access to loans, offering flexibility and security
  • Nexo supports 45+ fiat currencies, emphasizing user fund security with robust measures
  • Pros include a user-friendly interface, earning interest on deposits, and NEXO token rewards
  • Borrowers secure loans with collateral, including popular cryptocurrencies held in secure storage
  • Nexo's lending and borrowing services showcase adaptability and compliance with regulatory standards


Pros and Cons of Nexo 

Here are some key pros and cons of the Nexo platform:

Nexo - Pros and Cons
Pros Cons
Prioritizes user fund security with robust encryption and asset segregation Limited range of supported cryptocurrencies
Users can access quick loans by using their crypto as collateral Some services on Nexo depend on third-party providers
Enables users to earn interest on their crypto deposits Using crypto as loan collateral involves inherent risks, including potential liquidation
The platform's interface is user-friendly, catering to both beginners and experienced users Cryptocurrency market volatility can affect asset values and user experience
Rewards NEXO token holders with dividends, offering additional incentives Regulatory constraints may limit Nexo services in certain regions
Provides insurance for digital assets, enhancing user protection  


What is Nexo? The Big Picture

To understand what Nexo is -- we must understand where Nexo came from. 

Nexo is a subsidiary of Credissimo

No, Credissimo isn’t a fancy Italian word for credit -- it’s just the way the founders chose to spell the company when they first launched in 2007. 

Credissimo still exists. They are a leading fintech group serving millions of people across Europe since 2007. 

This is the main reason to trust Nexo in the first place. It’s backed and operated by an experienced company that has been helping customers lend and borrow money for over 10 years.

Nexo launched in 2018. Just seven months after its launch, Nexo established itself as the world’s leading crypto lending service. Since then, they have processed more than $300 million. Their user base has also grown beyond 170,000 active customers.

There has been no breach or significant defaults on the crypto loans since 2018. This is probably because the loans are generally overcollateralized -- which helps during the wild volatility of crypto markets.

Nexo has the largest network in the cryptocurrency space. It is the most advanced instant crypto lending provider on a global scale. And it truly is a global scale, since they service 45+ currencies across more than 200 jurisdictions, including all the laws that go into making a financial service legal and operable in those jurisdictions.

The Company & Team

Nexo has an award-winning team whose business has continuously been audited by Deloitte. That counts for a great deal, especially in the cryptocurrency space where it’s rare to see a company ask for and value the advice from an external auditing company. 

The team behind Credissimo is the one that transitioned to lead Nexo Lending. You know what that means? Adaptability. 

Credissimo was formed in 2007 and grew as a company while Satoshi Nakamoto was still writing the Bitcoin whitepaper. So when the team behind Credissimo saw bitcoin and blockchain tech popup, they knew it would be the future of finance. Good on them for the transition.

Since then, they’ve reached the Top 10 Alternative Finance in European FinTech Awards 2017. Plus two Forbes Business Awards in 2017 for "Financial Sector Innovations" and "Quality of Services."

Now the team provides instant loans to millions of people across Europe and expanding to even more regions that I’m sure this Nexo review isn’t big enough to cover. By the way, if you want to find more about the legitimacy of Nexo or other cryptocurrency companies, make sure to check this website.

Anyway, Nexo does this by providing the world's first Instant Crypto-backed Loans. All thanks to the team behind Nexo Lending identifying and successfully solving inefficiencies on lending markets by applying blockchain technology

Along the way, Nexo has acquired Bitgo as a strategic partner, Onfido as a compliance partner, and become a part of the Swiss finance and technology association. 

If all that isn’t impressive in such a short amount of time -- then I don’t know what else I could possibly add to this Nexo review. That’s the top!

Borrowing Through Nexo? Worth It?

Remember the goal of this Nexo review? Profit. If you are borrowing through Nexo, then you don’t want to lose too much on interest. So let’s take a look at Nexo’s borrowing service.

Nexo fees


Fee Category  Fee Description
Account Fees  No fee for creating an account.
Trading and Transaction Fees On Nexo Pro, fees are standardized based on trading volume. No spread fees as orders match directly with the order book. For market makers: 0.2% to 0.04%. For takers: 0.2% to 0.07% (both ranges up to $10k to +$500M). 
Fiat Deposit and Withdrawal Fees Every payment method has deposit/withdrawal fees and waiting times. Additional bank charges may apply.
Crypto Deposit and Withdrawal Fees No additional deposit fees. Standard network or withdrawal fees apply. Standard withdrawal fees vary. Withdrawals are free under Nexo loyalty program: - Base: 1 free crypto withdrawal/month - Silver: 2 free crypto withdrawals/month - Gold: 3 free crypto withdrawals/month - Platinum: 5 free crypto withdrawals/month. All crypto transfers between Nexo accounts are free.

Nexo types of fees

Use Of Collaterals

In order to secure a loan on Nexo, you must first deposit collateral that will be used by Nexo as a security deposit to repay the loan, if you fail to do so.

screenshot from nexo


The cryptocurrencies currently available to serve as collaterals are: 

  • Bitcoin (BTC)
  • Ether (ETH)
  • XRP
  • Litecoin (LTC)
  • NEXO Tokens
  • Binance Coin (BNB)
  • Stellar (XML)
  • EOS (EOS)

Keep in mind that new collateral options are being added regularly. You can even vote on which coins should be added.

Your crypto assets are then held in multi-signature wallets and cold storage. How secure are these, you may ask? 

Well, the cold storage is at Goldman Sachs-backed, SEC-approved custodian BitGo. PrimeTrust, an SEC-approved custodian, also secures your deposits.

Borrowing Limit

If you need, you can increase your loan limit by depositing more crypto into your Nexo Wallet. 

Because remember, your loan is approved based on how much collateral you put up. You can choose to borrow as little as the minimum loan amount of $500 and as much as their maximum limit of $2,000,000.

Your loan limit is dynamically determined by the Nexo Oracle algorithms. They take into account the current and historical volatility and market liquidity of the particular assets you plunked down as collateral -- and give you a loan limit based on all those factors.

This loan limit, or loan-to-value (LTV) ratio, ranges from 20% to 50% of the assets you deposited. As an example: If you stake $10,000 worth of Bitcoin, you will be able to withdraw an instant loan of approximately $5,000 (in fiat or other), which would give you an LTV of 50%.

Nexo Lending goes as far as to let you deposit a mix of assets -- and the LTV ratio will be determined based on this mix of assets. 

Obtaining Your Loan

One thing to note in this review of Nexo is the word “instant.”

Remember that Bitcoin network transactions need six network confirmations to appear in your Nexo Wallet. 

So “instant,” of course, depends on which blockchain you are using and how fast it is. ETH and ERC20 deposits will appear after 50 network confirmations, which is often a similar amount of time. You can keep track of the status on the Transactions page. 

But it’s worth it -- because no credit check is required, there’s no loan application to fill out or long waiting for approval. Nothing. You can just deposit and get a loan right then and there.


If you choose to withdraw your loan in USDT or another stablecoin, you will be able to withdraw instantly to the crypto wallet or exchange of your choice.

Of course, if you choose fiat withdrawals, it won’t be instant. With bank transfers, you will generally receive your funds within 2 business days (up to 5 business days if it is a USD withdrawal to a non-US bank account). 

So now that you know how that works, let’s dive into the numbers. See if it’s profitable for you.

Loan Terms

The annual percentage interest rate (APR) starts at 8%, which is quite low compared to your average credit card rate of 12% to 24% or more. 

Thankfully, interest is charged only for the days you borrow and on the money you use. So if you don’t withdraw everything from the Nexo platform, then you won’t be charged. 

No minimum loan repayments are required. The interest is debited automatically from your available credit limit and collateral you have deposited.

Using an example should help make this Nexo review clearer.

You want to buy a $10,000 motorcycle. Instead of selling your Bitcoin -- and missing out on all the sweet appreciation it could be making, you instead opt to get a crypto-backed Nexo loan.

Loan Limit: $10,000.

Deposit Required: $20,000 worth of bitcoin (or more using another cryptocurrency). This deposit is always yours.

Interest: begins at 8% per year APR.

Daily Interest: ~$2.22 which is debited each day from your available assets

That simple. And when you are ready, you can repay all or part of your loan at any time. Just bank transfer it or use crypto -- you can even use the assets deposited in your Nexo Wallet.

You gain access to instant cash and get to HODL through the upswings and downswings. 

Plus, bonus, selling crypto assets at a profit triggers a tax event -- borrowing against them does not. So you save on taxes.

Nexo Borrowing: Features

Nexo is loaded with useful features. The best is that you can borrow instantly in 45+ fiat currencies. This helps if you’re a resident in and outside the E.U., or if you’re traveling and need a quick loan of the local currency. 

Another essential point to mention in this review of Nexo is the $100 million insurance on custodial assets -- which means your assets stay safe. Especially since Nexo is licensed & regulated. 

And to put the highlights on top: since the loan is backed by collateral, it’s guaranteed approval with no credit check. And no hidden fees to frustrate you either.

borrowing on nexo pros and cons

Borrowing on Nexo: Pros and Cons vs. Competition


  • More fiat currencies to borrow (45+) than the competition
  • High insurance coverage ($100 million)


  • Not as low interest rate as competitors. It starts at 8% -- but some competitors charge less interest than this. Granted, they are also not as safe. But the choice is up to each of us.

Earning Interest With Nexo Lending? How Much?

Here’s where this Nexo review really digs into the potential for profits. 

Say you’ve got a bit of a nest egg, right? You’ve made a windfall in crypto. 

What do you do? What if you don’t have enough for real estate or a small business -- but you still want to earn from what you have saved.

Well, you could plow it back into unknown altcoins and hope for the best. But what if you want to keep a portion of your savings in something less risky? 

Of course, a bank like Deutsche Bank only offers 0.5% per year. Most banks only offer 1 to 3% on a savings account -- which just barely keeps up with inflation.

Nexo lets you earn up to 8% per year

Through the Nexo platform, lenders can earn interest on their stablecoins. After setting up a Nexo Wallet, you can deposit stablecoins (DAI, PAX, USDC, USDT & TUSD) or fiat currencies (USD, EUR, GBP). 

This earns you compounding interest paid out daily. It’s a fully automated process available for all Nexo Wallets with no minimum amounts & no fees restrictions. 

And rest assured, because once again, these deposits are insured up to $100M.

You don’t even need to lock up your money for a fixed period. Feel free to add and withdraw funds at any time with no fees and commissions. 

To help out, Nexo is using Onfido to adhere to KYC and AML standards. Remember, Onfido is also trusted by Coinbase, Revolut, HSBC, Nationwide, TransferWise and Bittrex. 

So if you use one of these other services -- then your trust in them may match your trust in Nexo.

You may also wonder: Does Nexo accept non-stablecoins deposits? 

Unfortunately, they don’t for now. And this somehow makes sense. 

Indeed, how would the interest be calculated from a coin that fluctuates every hour of every day?

Nexo Lending Features

Nexo partners with Bitgo to secure all your crypto assets in cold wallets. BitGo is insured by Lloyd's, backed by Goldman Sachs and is CCSS Level 3 and SOC 2 compliant -- which is fancy speak for iron-clad.

So you and your money should be safe. Which is a good thing, considering your money is compounded daily and paid out daily too -- with no fees.

Quick refresher course, compounding ensures that every day a larger interest amount is credited into your account -- so the numbers keep rising.

lending on nexo pros and cons

Nexo Lending: Pros and Cons vs. Competition


  • Higher insurance for lenders. Up to $100 million in total.
  • Secured with military-grade security with 256-bit encryption and cutting-edge technological advances, as well as 24/7/365 fraud monitoring.


  • Not as high interest as competitors. Some other lending platforms offer up to 12% -- but they balance this out with less security, less flexibility, and more compromise.
  • You can’t earn interest off of cryptocurrencies that are not stablecoins. 

The Nexo Card - A Good Fit For You?

TenX, Crypterium and Bitpay may have offered crypto cards to cryptocurrency enthusiasts.

But Nexo is unlike any of them because the others convert cryptocurrencies to fiat for every transaction.

Instead, Nexo collateralizes users’ crypto and supplies them with a fiat loan. Nexo did this collateralization before, but now the loans can be used to make purchases at merchants that accept MasterCard.

It works like this: after swiping your card, an oracle confirms you have enough collateral to cover the purchase. The oracle then instantaneously executes a loan and settles the transaction in fiat.

So if you’ve ever wanted a credit card but didn’t want to do anything with your credit history, remember that these cards are available independent of your credit history. The staked collateral reduces default risk, so they make the card available for you. 

After all that, you can repay your card or loans in either crypto or fiat. Additionally, minimum payments will be eliminated if the value of bitcoin increases.

And it’s all possible due to the credit line being “dynamic,” -- as the value of your collateralized assets increase relative to the market -- your fiat debts decrease.

But hey, don’t take my word for it. Crypto entrepreneur Brock Pierce (and child star in the 90’s hit film Mighty Ducks) mortgaged a flat in Amsterdam using a $1.2 million line of credit through Nexo. 


Remember that with a Mastercard, you can access your credit line worldwide. Plus, like many major credit card companies, Nexo offers instant cashback (5%) on all purchases. 

Couple that with their flexible repayment options, free additional virtual cards, payments in local currencies, and no monthly/annual fees -- and we have a great alternative to conventional credit cards.

nexo card


Pros of the Nexo card

  • Manage through the Nexo app. Cards from most competitors do not link the card to an app that you can manage the card with
  • Create free virtual cards. This helps with one-off purchases and gives a bit more privacy than some competitor cards, which only give you the one physical credit card
  • Earn 5% cashback instantly on purchases. It’s like having a 5% off coupon for every single place you go to! Other competitors only offer a basic card

Cons of the Nexo card

  • It’s a Mastercard. It’s not as big or as widely accepted as a VISA card. Though it is much better than an American Express card. 

Levels Of Verification

Basic verification is required for loans up to $10,000.  You'll be asked to verify your account by entering your personal information and submitting it for review. 

Don’t worry about privacy yet, as you won’t be required to upload any documents.

On the other hand, an advanced verification is required for loans over $10,000, to get your Nexo payments card, or after earning a certain amount of dividends.

To complete the advanced verification, you will need to take a photo with your mobile phone or upload an existing copy of either your Passport, Driver’s License, or some sort of national ID card.

Those are the two levels of verification.

My Final Words And Opinion On This Nexo Review

I’m convinced. 

I’m convinced that the era of finance is rolling through a revolution -- and Nexo is leading the charge. 

Why should I continue with banks if I can now do everything they offer with crypto? 

Nexo gives me much better interest rates on my savings, better rates on my loans, and now a credit card I can use in 45+ countries with different fiat systems. 

The future of finance is looking more and more like freedom -- and it’s thanks to crypto.

Frequently Asked Questions

How does Nexo work as a lending platform?

Nexo operates by utilizing blockchain and AI algorithms. Users deposit digital assets into Nexo's wallet, securing instant loans collateralized by the assets. A unique risk management system adjusts interest rates based on market conditions, offering competitive rates. Flexible repayment options and interest on idle assets enhance the borrowing and lending experience.

How is Nexo leveraging technology to enhance its lending services?

Nexo employs cutting-edge technology, notably AI algorithms and blockchain. AI analyzes borrower data and market trends for precise loan assessments. Blockchain ensures transparent, secure transactions, eliminating intermediaries. Smart contracts automate processes, reducing costs and providing quick, secure access to funds.

What are the key features of Nexo's lending platform?

Nexo offers blockchain-based, transparent transactions with instant, collateralized loans. No credit checks, flexible repayment (crypto or fiat), competitive interest rates, and global accessibility make it attractive. With no hidden fees, Nexo stands out for affordable, convenient financing options.

Is Nexo regulated and licensed?

Yes, Nexo is regulated and licensed, adhering to regulatory standards. This ensures compliance with legal requirements, providing users with confidence in the platform's legitimacy and commitment to regulatory guidelines.

How does Nexo ensure the security of users' funds?

Nexo employs a robust security approach, storing funds in offline wallets with encryption and physical safeguards. A distributed key system enhances protection. AI-driven fraud detection and real-time monitoring prevent unauthorized access. Regular third-party audits identify and address vulnerabilities, ensuring a secure platform.

Who should consider using Nexo?

Nexo suits investors seeking high-yield interest, crypto enthusiasts wanting instant crypto-backed loans, and businesses in the crypto industry. With features like competitive interest rates, instant cash access, and corporate solutions, Nexo provides a versatile financial platform for diverse needs.

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We are CryptoManiaks.  Collectively, we have over 25 years of experience in the crypto world and are all passionate about guiding people through the complex world of crypto investing.

Written by

When Mileva invested in Bitcoin at the end of 2017, she never believed she’d end up becoming so focused on fintech. Still, cryptocurrencies have become her passion and she decided to take it up a notch. She navigates the realms of gambling, fintech, and the written word with ease and loves every minute of it. When she’s not working, she spends her time on CryptoPanic, planning her next move, cooking, baking, or working in her garden. She also plays Texas Hold 'em with a passion. 

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