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Nexo Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
Nexo logo
4.66
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
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The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Nexo Review encapsulates the essence of a modern crypto exchange with its wide-ranging services, from Nexo Earn and Nexo Exchange to its lending products. The platform’s dedication to user experience, security, and innovative financial solutions establishes it as a noteworthy option for crypto users seeking a multifaceted approach to digital asset management.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Offers instant crypto credit lines
  • High-yield interest on crypto savings
  • Supports a wide range of cryptocurrencies
  • No minimum repayment requirements on credit lines
  • Provides a native utility token, NEXO, with benefits

Cons

  • Higher interest rates on credit lines if not using NEXO tokens
  • Limited information on security measures
  • Withdrawal limits for unverified users
  • No phone customer support
  • Lack of advanced trading features for experienced traders

Quick Summary

Headquarters Location Zug, Switzerland
Fiat Currencies Supported USD, GBP, EUR
Total Supported Cryptocurrencies 66+
Trading Fees 0.12% - 0.20%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, Google Pay
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Nexo Review is a contemporary cryptocurrency platform offering a range of services tailored to users looking to maximise the utility of their digital assets. With a focus on user accessibility and feature richness, this review delves into what makes Nexo stand out in the crowded crypto exchange market.

Nexo homepage

Nexo has carved out a niche for itself in the evolving landscape of cryptocurrency exchanges by offering innovative features that resonate with the eclectic needs of the modern investor. It has earned a reputation for blending the agility of a crypto platform with the stability of traditional financial services, thus attracting a diverse user base.

This additional layer of versatility is one of the many facets that augment the existing allure of Nexo as a premier exchange choice.

About Nexo

Established with the aim of bridging the gap between traditional finance and the digital economy, Nexo has quickly become a key player in the crypto space. Its roots can be traced back to the early days of blockchain technology, with a team that combines expertise from both the finance and tech industries.

Over time, Nexo has evolved to offer not just trading but also sophisticated financial services like lending and borrowing, providing users with more flexibility in managing their assets.

Nexo features

Nexo’s journey is marked by significant milestones that parallel pivotal developments in the cryptocurrency market. Since its inception, Nexo has expanded its suite of offerings in response to the growing demand for more comprehensive crypto services.

This evolution has been guided by a core founding team that strategically positioned the exchange to capitalize on market trends, such as the surge in borrowing and lending platforms and the increased interest in digital assets as a form of passive income.

Nexo has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit, Telegram and YouTube.

Nexo has a mobile app on both the Apple App Store and Google Play.

Nexo Supported Cryptocurrencies

Nexo supports trading on over 66 cryptocurrencies on their platform. This exchange currently supports 21 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • Chainlink (LINK)
  • TRON (TRX)
  • Shiba Inu (SHIB)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Bitcoin Cash (BCH)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Ethereum Classic (ETC)
  • Cosmos (ATOM)
  • UNUS SED LEO (LEO)
  • Filecoin (FIL)
  • Immutable (IMX)
  • Aptos (APT)
  • NEAR Protocol (NEAR)
  • Stacks (STX)
  • Bittensor (TAO)

View all cryptocurrencies Nexo supports

  • 1INCH
  • AAVE
  • ADA
  • ALGO
  • APE
  • APT
  • ARB
  • ATOM
  • AVAX
  • AXS
  • BAL
  • BAT
  • BCH
  • BNB
  • BTC
  • BUSD
  • CAKE
  • CHZ
  • COMP
  • CRV
  • CVX
  • DAI
  • DOGE
  • DOT
  • DYDX
  • ENJ
  • ENS
  • EOS
  • ETH
  • FTM
  • FXS
  • GALA
  • GMX
  • GRT
  • HBAR
  • HT
  • KNC
  • KSM
  • LDO
  • LINK
  • LTC
  • MANA
  • MATIC
  • MKR
  • NEAR
  • NEXO
  • OP
  • OSMO
  • PAXG
  • RUNE
  • SAND
  • SNX
  • SOL
  • STEPN
  • SUSHI
  • SWEAT
  • TRX
  • TUSD
  • UNI
  • USDC
  • USDP
  • USDT
  • WLD
  • XLM
  • XRP
  • YFI

Trading Experience

Nexo offers a user-friendly interface and a suite of trading features that cater to both novices and experienced traders. Its Smart Routing System ensures quick and efficient order execution, while advanced features cater to those interested in volatile assets and sophisticated trading strategies.

Nexo Pro further extends these capabilities, providing an enriched trading experience.

Trading on Nexo is an exercise in efficiency and sophistication. The platform’s comprehensive trading tools cater to a variety of investment strategies, including those that target volatile assets.

Nexo Pro amplifies this by offering an enriched experience for traders who seek advanced features and granular control over their trading activities.

Nexo exchange marketing

Nexo Fees

Nexo’s fee structure is designed to be competitive and transparent, avoiding hidden costs. The platform uses a dynamic model that adjusts to market conditions, ensuring that users are always getting a fair rate.

Fees are structured around various services provided, including but not limited to, trades, withdrawals, and loan interests.

The fee model employed by Nexo is a reflection of its commitment to fairness and adaptability. With a dynamic approach to transaction costs, Nexo remains an attractive platform for users who value transparency and competitive rates.

The sophistication of its fee structure aligns with the evolving needs of its user base, ensuring that the exchange stays relevant in a market that’s constantly shifting.

Type Fee
Deposit Fee (Bank Transfer) 0%
Deposit Fee (Credit/Debit Card) 0%
Trading Fee 0.12% - 0.20%
Withdrawal Fee (Bank Transfer) 0%

Nexo has a maker/taker fee schedule which you can see below.

Pricing Tier Taker Maker
Up to $10K 0.20% 0.20%
$10K – $50K 0.18% 0.18%
$50K – $100K 0.16% 0.14%
$100K – $1M 0.14% 0.12%
$1M – $10M 0.12% 0.10%
$10M – $100M 0.10% 0.08%
$100M – $200M 0.09% 0.06%
$200M – $500M 0.08% 0.05%
$500M+ 0.07% 0.04%

Security - Is Nexo Safe?

Security is paramount on Nexo, which employs stringent measures such as biometric identification to protect customer funds and personal information. The platform is aligned with major regulatory standards, ensuring legal compliance across its operations.

This commitment to safety helps maintain Nexo’s reputation as a reliable place for managing cryptocurrency.

Nexo’s multi-layered security infrastructure is a testament to its dedication to safeguarding user interests. The exchange utilizes a blend of advanced security protocols and compliance measures to ensure that users’ digital assets and personal information are protected from unauthorized access.

This unwavering focus on security helps to fortify the trust between Nexo and its active users and positions it as a bastion of safety within the cryptocurrency space.

Nexo Customer Support

Nexo prides itself on its customer support, offering a variety of channels through which users can seek assistance. The team is known for its prompt and competent service, ensuring that customer queries are addressed timely and effectively.

This reinforces the platform’s commitment to user satisfaction.

The customer support provided by Nexo is emblematic of the platform’s user-centric ethos. It extends beyond mere problem-solving, embodying a comprehensive support system designed to enhance the overall user experience.

The exchange’s dedication to providing competent customer service is a cornerstone of its operations, reinforcing its status as a user-friendly platform.

Nexo support

Nexo Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on Nexo

  1. Create Account - Visit the Nexo website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay

Nexo Alternatives

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Binance

3.27
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
359+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 78 others

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Kraken logo

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3.67
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
233+

Trading Fees
0.06% - 0.16%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

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OKX logo

OKX

3.75
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

Trading Fees
0.06% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX

Final Thoughts

As a final assessment, Nexo demonstrates its prowess as a comprehensive crypto platform that extends beyond mere trading. It’s a one-stop shop for users who wish to employ their crypto holdings in a variety of ways, from earning interest to obtaining credit without selling their assets.

Crypto exchanges like Nexo play an instrumental role in shaping the future of digital finance, offering gateways to investment opportunities that were once the preserve of niche markets. The industry continues to witness a shift towards platforms that offer a blend of services, including trading, lending, and borrowing, which are tailored to the user’s financial journey.

These platforms are setting the stage for a more inclusive financial ecosystem.

Nexo FAQs

When considering the safety of using Nexo, it’s important to note that it employs several security measures such as encryption, multi-signature wallets, and two-factor authentication. Nexo has also partnered with custodians like BitGo to secure assets, which are insured for up to $100 million.

However, like any online platform, potential risks cannot be entirely eliminated, and users should conduct their own research and consider personal risk tolerance when using such services.

Nexo partners with several banks for its banking services, but the specific bank they use can depend on the user’s location and the particular service being utilized. They work with established financial institutions to manage fiat transactions, ensuring that users can transfer funds to and from their Nexo account.

Nexo withdrawals can vary in time, depending on factors such as the type of currency being withdrawn and network congestion. For cryptocurrencies, the withdrawal time is usually within 24 hours, but for fiat currencies, it could take several business days to process.

Yes, Nexo funds are insured. Nexo has partnered with reputable custodians like BitGo, which provides insurance for digital assets held in their custodial storage up to the value of $100 million.

Withdrawal limits on Nexo can depend on the user’s verification level and the currency being withdrawn. Nexo provides higher withdrawal limits for users who complete advanced verification processes.

It’s important to check the latest terms on the Nexo platform for current withdrawal limits.

Nexo has a fee structure for various services, including withdrawal fees for certain types of transactions. It is important for users to review the current fee schedule on Nexo’s official website, as fees can change and may depend on factors such as currency type and transaction size.

A Nexo account might be restricted for various reasons, including suspicious activity, the need for additional KYC (Know Your Customer) verification, or compliance with regulatory requirements. If a user’s account is restricted, it is advisable to contact Nexo’s customer support to understand the specific reasons and what steps can be taken to resolve the issue.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: