Nexo Review 2021: Earn Interest on Crypto

Nexo Review 2021: Borrow & Earn up to 12% Interest on your Crypto

Written by LouiseElizabeth

3rd May 2021

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Want to know how to earn up to 12% on your crypto assets, instead of just sitting idle in a wallet or exchange? Or would you prefer to borrow cash or stable coins, using your crypto as collateral? Well, could be a solution for you! Plus by holding their own NEXO token you could earn dividends of 30%.

In this Nexo Review, we’ll take a look at the short-term lending platform and see how they compare to the likes of BlockFi and Celsius Network.

Nexo Review & Tutorial

What is Nexo?

Nexo was launched in 2018 by Credissimo, the leading European fintech group. They state they provide the world’s first instant crypto credit lines and have processed more than $12 billion for 1,500,000+ clients in 200+ jurisdictions.

What is

The platform is centralized and users can deposit cryptocurrencies to earn interest. Or they can use crypto as collateral to borrow cash or stable-coins instantly.

Nexo in Numbers

NEXO Token

The Nexo oracle has its own NEXO token which they deem is the world’s first dividend-paying asset-backed token. It’s an Ethereum based ERC20 token that can be used as a utility token for the Nexo platform.

The NEXO token did incredibly well in 2020, increasing by a massive 3241%, it hasn´t slowed down in 2021 either and continues to do well.

Nexo Token

With NEXO, users can:

  • Earn 12% APY for stablecoins, and EUR, GBP and USD deposits
  • Pay 5.9%* APR for Nexo’s Instant Crypto Credit Lines (*6.9% APR after 26th May 2021).
  • Receive a portion of Nexo’s net profit which is shared with NEXO Token Holders in the form of dividends

Where can I buy NEXO tokens?

Although the platform does not contain an exchange, you can purchase NEXO with Changelly through their platform. Or they are listed and available for purchase on over 15 exchanges including the likes of UniSwap.

Where to buy NEXO Token
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How to Receive NEXO Dividends

NEXO token holders can receive a portion of Nexo’s net profit in the form of dividends. Since 2018, Nexo has paid out a total of $9.5 million in these dividends. Available to all token holders regardless of how many they hold.

It also isn’t important which wallet the tokens are stored within. However, token holders will need to be verified to “Advanced Level”, which includes extra KYC such as uploading photo ID, etc. Also, the NEXO tokens must be held or staked in your account at the ex-dividend date which will be communicated to token holders in advance.

Nexo Dividends Payments

Nexo Loyalty Program

With the launch of Nexo’s Loyalty program, you need to stake a certain percent in $NEXO Tokens in order to receive lower interest rates for loan and increased yields on deposits. The program comprises of 4 tiers which are as follows;

  • Base: No NEXO Tokens are needed
  • Silver: At least 1% of the Portfolio Balance in your account must comprise NEXO Tokens
  • Gold: At least 5% of the Portfolio Balance in your account must comprise NEXO Tokens
  • Platinum: At least 10% of the Portfolio Balance in your account must comprise NEXO Tokens
Nexo Loyalty Program


With Nexo, you can earn daily compounding interest on your crypto or your FIAT currency likes Euros, GBP and USD, with rates up to 12%. Unlike a lot of other platforms or savings accounts, your funds are not locked up and you can withdraw at any time with zero fees.

To get the highest rates shown you will need to earn your interest in their NEXO token as well as hold 10% of your wallet balance in the token.

Earn interest on your crypto with Nexo

How Long Do Deposits Take?

For security purposes, Nexo will require a crypto deposit to receive a number of confirmations on the blockchain before the funds can be credited into your account.

These confirmations will all depend on if the network is congested and on the blockchain. For example, Bitcoin deposits require 6 confirmations, Ehtereum based deposits are 50 confirmations and XRP are nearly instant.


In a traditional bank systems, if you want to borrow money for a car, a house or your next vacation, loan approvals can be slow. Plus you have to go through some credit scrutiny with credit checks based on your credit score.

However Nexo, approves loans in seconds and money is sent straight to you account.  Previously these rates started at 5.9% however increased to 6.9% APR from May 26th 2021.

Borrow cash or Stablecoins without selling your crypto.

This is all done by collateralising your crypto. Previously, if you wanted to free up some funds you’d need to sell your crypto. However, with Nexo you can simply use it as collateral to borrow funds.

You can borrow cash or stablecoins from as little as $10 all the way up to $2M. However, this will obviously depend on the amount of collateral you deposit. 

You can take a Nexo loan equal to (or up to) 50% of the crypto collateral you deposit. In other words, if your collateral is $1,000, you can get a loan of up to $500. This is done in order to protect the system.

Just in case there was a crash in the value of the crypto which is obviously very volatile.

Celsius Network Promo Code 2021

What Tokens are Accepted as Collateral?

You can deposit the following crypto assets: BTC, ETH, XRP, LTC, XLM, BCH, EOS, LINK, TRX, stablecoins, PAXG, NEXO and BNB as collateral. Nexo doesn’t support wrapped token such as wBTC OR wETH.

If you would like a token added you can contact Nexo and fill out an application form.

nexo What coins are accepted as collateral?

What is Loan to Value?

Just be aware though that the Loan-to-Value ratio is very important. As this can change especially if the value of the collateral goes down. As the Loan-to-Value will then go up.

So, monitoring your account is very important during market drops. If the price of the crypto asset falls too low, the Loan-to-Value will continue to increase and Nexo will automatically request (via SMS and email), that you repay your loan or add extra collateral in your Credit Line Wallet.

Nexo Loan to Value

LTV is calculated as the loan amount in USD divided by the value of the collateral in USD, expressed as a percentage.

Loan amount: $5.000
Value of collateral: $10.000
Loan-to-Value = ($5.000/$10.000)*100% = 50.0%

If you don’t repay, there is a threshold where assets from your Savings Wallet will be automatically moved to your Credit Line Wallet. 

If they are insufficient to cover the required Loan-to-Value, the collateralized asset will start being sold by Nexo to pay back part of the loan, in order to rebalance the Loan-to-Value. This threshold at Nexo is set at 83.3%. But before all that happens you will be notified via SMS and email.

Nexo Loans

However, on the flip side, if the value of the collateral increases, your credit line will be automatically increased as well. This could allow you to take another loan for example.

Loan to Ratio Rate Changes

As of 5th May 2021, the Loan-to-Value (LTV) ratios for 10 cryptocurrencies on Nexo platform will be lowered, for clients withdrawing new credit lines on or after this date.

Below is a list of the new LTV rates;

Nexo LTV Rates Loan to Value

Nexo Card

Nexo has its own Nexo card. Letting you spend the value of your crypto without selling it. Cardholders can use the Nexo Card is like using any other card. Simply swipe your card and the payment amount is deducted from the available balance of your Instant Crypto Credit Line.

The card is accepted worldwide by 40M+ merchants and you can get 2% instant cashback on all purchases. Plus get flexible repayment options again with zero fees.

Nexo Card


Nexo boasts zero fees on its platform, for deposits, withdrawals, and .repayments. You will find some minimum amounts for crypto and cash withdrawals, however, these are at no cost to Nexo users.

What is the Minimum Amount of Crypto I can Withdraw?

The minimum amount of crypto you can withdraw from Nexo are shown below;

Nexo What is the minimum amount of crypto I can withdraw?


Nexo Customer Support can be contacted by filling in an online form or sending an email to [email protected] Plus they have a 24/7 Live Chat facility available in the bottom right of the screen when you’re logged in.

When I contacted support via chat, they were very helpful and responded within 5 mins.

Nexo Customer Support

Is Nexo Safe?

In terms of security, Nexo partners with the world-renowned custodian BitGo to secure all crypto assets. BitGo is backed by Goldman Sachs and is Cryptocurrency Security Standard Level 3 as well as SOC 2 compliant.

Plus BitGo Custody carries $100,000,000.00 in insurance protections. This is through a syndicate of underwriters through Lloyd’s, the world’s specialist insurance and reinsurance market.

Is Nexo Safe?

Is Nexo FDIC Insured?

Nexo is currently working on acquiring an FDIC insured US chartered bank. With the aim to give them access to cost-efficient financing, plus a strong foothold in the US market.

Whilst this is underway it’s worth mentioning that they do secure all their crypto assets with the custodian BitGo, for maximum security.

BlockFi Referral Sign-up Offer


Rating: 4.5 out of 5.

As you can see from this Nexo review, it is an easy to use platform for lending with some fast results and good rates.

Although Nexo isn’t alone in this space you also have the likes of BlockFi and Celsius Network who also have their own token like Nexo. However, both BlockFi and Celsius offer sign-up bonuses to attract new users to their platforms which Nexo currently does not.

I’m very new to Nexo and haven´t experienced any problems thus far. When I contacted Nexo support, they were very quick to respond. One thing worth mentioning is their impressive Trust Pilot score of Excellent with 2,414 reviews.

Nexo Trust Pilot Score

I would like to see the Nexo card, which will see users earn a 2% cash back on purchases, this is something that Celsius and BlockFi don’t offer.

Written by LouiseElizabeth

Louise created the Every Bit Helps YouTube channel back in 2017, after finding the process of buying Bitcoin difficult. Therefore, in an aim to help others, she hopes that her tutorials will make the process of buying, selling and storing crypto a lot easier for newbies in the future.

After spending 20 years working in London in cyber security, she left the corporate life after having her second child in 2018. Louise now travels the world with her two small children trying to make the most out of life.

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