Nexo is a challenge that’s a part of a burgeoning decentralized finance (DeFi) sector that’s aiming to duplicate and change a variety of monetary providers which were supplied by extra established, and conventional entities for a variety of years.

The appearance of cryptocurrencies equivalent to Bitcoin has resulted within the emergence of a wholly new asset class and Nexo allows its customers to acquire financing by making a safety deposit within the type of a digital asset equivalent to Bitcoin or Ethereum.

Nexo goals to open up entry to capital by permitting anybody to borrow funds utilizing their cryptocurrency holdings as collateral and to disrupt the lending business by permitting folks to make use of their digital funds to obtain loans in a variety of common fiat currencies.

Nexo Logo

Go to Nexo

Nexo Overview

Nexo is predicated in Zug, Switzerland though the workforce don’t give away an excessive amount of data on their actual head workplace location.

They do announce, nevertheless, that the Nexo Group has authorized entities in varied areas all through the world and the corporate was based in 2017 by Kosta Kantchev, Georgi Shulev, and Antoni Trenchev.

The trio ran a profitable Preliminary Coin Providing (ICO) which led to April 2018 and raised simply over $52m in funding, with Michael Arrington’s Arrington XRP Capital being an early stage contributor.

Nexo Executive Team

As well as, the bulk shareholders (that are the founders) of Nexo are majority shareholders and founders of Credissimo which is a number one European FinTech Group based in 2007 which supplies immediate shopper loans on-line, e-commerce financing, and invoice fee providers.

Nexo operates as a legally compliant entity with the workforce claiming to be SEC compliant and the workforce additionally work in compliance with all of the relevant laws of the jurisdictions they function in.

Nexo complies with all related KYC/AML laws and likewise holds all buyer funds in chilly storage in collaboration with third-party custodian BitGo which is SOC 2 Kind 2 licensed.

BitGo Custody additionally carries $100 million in insurance coverage protections with Lloyd’s of London that means that buyer funds are insured if a worst case state of affairs have been to happen.

In consequence, Nexo is ready to function as an immediate crypto mortgage firm obtainable in over 200 jurisdictions which permits folks to place up collateral in round 15 digital belongings and obtain immediate entry to loans in 45 fiat currencies.

Which Companies Does Nexo Present?

Nexo gives two core providers primarily based across the depositing and loaning of funds.

Crypto Backed Mortgage Service

Platform customers are in a position to deposit over 10 common cryptocurrencies together with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Binance Coin (BNB) with a view to obtain a mortgage in over 40 fiat currencies such because the US Greenback (USD), Euro (EUR), Canadian Greenback, (CAD), Japanese Yen (JPY), and Nice British Pound (GBP).

It’s potential to mortgage an quantity price over 80% (round 50% for BTC/ETH) of the asset deposited and there are two potential rates of interest of 5.9% APR and 11.9% APR relying on the way you select to repay your mortgage.

Nexo has a handy loan calculator
Nexo has a helpful mortgage calculator

Excessive Yield Curiosity Service

Nexo additionally permits its customers to deposit funds with a view to obtain curiosity on their holdings, and curiosity is paid out on fiat currencies equivalent to USD, EUR, and GBP in addition to on “stablecoins” equivalent to USDT, TUSD, USDC, PAX, and SAI.

Customers obtain an rate of interest of 8% p.a. and may add and withdraw funds at any time. Nexo additionally applies compound curiosity that means that customers can obtain bigger quantities of their accounts each day, and this service can also be payment and fee free.

Nexo Interest Rates

Nexo Card Service

The platform additionally incorporates the Nexo bank card backed by MasterCard which can be utilized to make in-store and on-line purchases, or to withdraw cash from an ATM.

The cardboard additionally gives 5% cashback on every buy which is added to your Nexo pockets when a transaction is settled. Your card’s credit score restrict depends upon the road of credit score you’ve got at Nexo, and the cardboard additionally comes with its personal cellular app in addition to being payment free almost about account/inactivity charges or international change purchases.

Nexo Credit Card

How Does Nexo Work?

Customers can deposit their most well-liked fiat forex or stablecoin with a view to earn curiosity on the platform, or deposit a variety of cryptocurrencies as collateral for a fiat forex mortgage.

The curiosity service pays an rate of interest of 8% p.a. (which compounds each day) whereas the crypto mortgage service sees customers pay an rate of interest of 5.9% APR or 11.9% APR relying on whether or not they select to make use of the platform’s NEXO token to repay their mortgage.

Nexo Loan Process

Nexo loans are primarily based solely on the dimensions of your safety deposit, and there aren’t any credit score checks and nothing is reported to credit score companies.

In consequence, your credit score rating is not going to be affected through the use of the platform and also you aren’t required to offer any data concerning your private funds.

At present, the minimal mortgage quantity you’ll be able to take/withdraw is $500 whereas the utmost is $2,000,000, and whereas crypto backed loans are immediate, they’ll take as much as 1 enterprise day to course of relying in your KYC/AML safety checks.

Typically although, these loans are immediate and assured and customers are anticipated to obtain their funds on the identical or the following day alongside the reference “Your Nexo Mortgage.”

The processing time is as follows:

  • Native transfers: 1 enterprise day
  • Worldwide switch: 3 to five enterprise days
  • USDT (Tether): normally take roughly half-hour

In case you fall behind in your repayments and the cryptocurrency you’re utilizing as collateral depreciates in worth then the Nexo workforce will unload a few of your deposit to cowl the shortfall, nevertheless, you’ll obtain a warning previous to this taking place and it requires you to overlook funds whereas your safety deposit drops in worth on the open market.

As anticipated, the perfect plan of action is to maintain up along with your repayments, nevertheless, should you fail to make any repayments, and your safety deposit appreciates in worth, you then shouldn’t have something to fret about.

Nexo BTC Loan Calculations

Who Can Take Out a Mortgage on Nexo?

The platform is open to customers world wide, and with a view to receive a mortgage, it’s simply essential to register a Nexo account at and deposit collateral into the account.

There aren’t any credit score checks; nevertheless, and when taking a mortgage in fiat forex, you’re required to move each Fundamental and Advance verification and might want to and enter your KYC/AML data.

Nexo at the moment solely accepts fiat transfers for repayments from the next jurisdictions:

Nexo Supported Countries

Nexo’s banking associate will routinely reject any funds despatched from jurisdictions which aren’t on the listing, and this will end in further financial institution charges.

How A lot Can You Borrow on Nexo?

As a way to decide simply how a lot customers can borrow Nexo makes use of a Mortgage-to-Worth (LTV) system which pulls up credit score traces primarily based upon the quantity of funds put up as a safety deposit.

Primarily, The LTV refers back to the ratio of a mortgage to the worth of the collateral, and measures the steadiness of the mortgage relative to the worth of the supporting collateral asset.

LTV is calculated because the mortgage quantity in USD divided by the worth of the collateral in USD, expressed as a share.

For Instance:

  • Mortgage quantity: 300.000 USD;
  • Worth of collateral: 500.000 USD;
  • Mortgage-to-Worth = ($300.000/$500.000)*100% = 60.0%

Nexo LTV Explained

It’s additionally essential to keep in mind that your LTV ratio can fluctuate and when the worth of your collateral goes down, the LTV goes up.

This merely signifies that the worth of BTC, ETH, LTC, and so forth supporting your crypto backed mortgage is trending down on the open market.

As the worth of the crypto asset falls, the LTV continues to extend, and the Nexo Oracle has a threshold in place the place the collateralized asset will begin being bought to pay again a part of the mortgage with a view to rebalance the LTV.

This threshold is ready at 83.3%, and when the LTV reaches 83.3% the Nexo Oracle will begin initiating partial computerized mortgage repayments, nevertheless, you can be notified by SMS and e mail earlier than that occurs.

For Instance:

  • Mortgage quantity: 5000 USD;
  • Worth of collateral: 6 000 USD;
  • Mortgage-to-Worth = ($5000/$6000)*100% = 83.3%

With Nexo, there may be all the time the choice to switch extra collateral at any time, and the precise LTV ratio hooked up to your mortgage additionally depends upon the kind of cryptocurrency that you just deposit.

Listed here are the present LTV ratios utilized by Nexo:

  • Bitcoin (BTC) and Ethereum (ETH): 50%
  • Stablecoins: 90%
  • Ripple (XRP): 40%
  • Binance Coin (BNB), Bitcoin Money (BCH), and EOS: 30%
  • Stellar Lumens (XLM): 17%
  • NEXO: 15%

For all customers of the platform, the present most mortgage quantity you’ll be able to take/withdraw is $2,000,000, whereas the minimal is $500.

The right way to Take Out a Mortgage on Nexo

The method is comparatively simple for anybody used to acquiring a mortgage from a standard monetary establishment and the workforce have outlined the method on this quick video.

As a way to receive a mortgage, it essential to comply with the next steps:

  1. Join your Nexo account at
  2. Deposit your crypto belongings. The platform at the moment helps BTC, ETH, XRP, LTC, XLM, BCH, EOS, TRX, NEXO and BNB alongside a variety of stablecoins.
  3. Full the Fundamental/Superior Verification within the My Profile part;
  4. Go to “Withdraw Mortgage” the place you will notice the obtainable mortgage quantity;
  5. Select the popular withdrawal technique and enter your checking account/Tether deal with;
  6. Use your mortgage as you want.

Nexo Deposit Options

If you wish to take a mortgage towards stablecoins, no less than 50% of the mortgage should be coated utilizing one other crypto asset equivalent to BTC or ETH as collateral with a view to adjust to Anti Cash Laundering requirements.

The KYC course of is totally automated and normally takes lower than two minutes.

You will have to add a high-quality photograph of a authorities issued ID equivalent to a passport or driving license and the identify you present within the verification type ought to match the one in your ID.

Making Crypto Mortgage Repayments

When utilizing the platform you can begin the reimbursement course of by logging in to
your Nexo account and clicking on the “Repay mortgage” button.

You might be free to decide on to repay your mortgage in crypto, fiat or a mixture of each, and there’s no minimal reimbursement required. You may also repay some or the whole thing of your mortgage early at any time, and also you solely pay curiosity for the times you borrow.

Curiosity is charged each day at 00:00 CET on the excellent steadiness and is debited out of your obtainable mortgage restrict, that means that curiosity is added each day to your excellent steadiness.

The usual maturity interval of a mortgage is one yr which could be renewed on request with out requiring any reimbursement, and the interval begins when you make your first mortgage withdrawal.

Any new mortgage withdrawal amends the beginning date to the date of the final mortgage withdrawal, and also you solely pay curiosity on the funds that you just withdraw.

You may also make a reimbursement by inserting an order with the Nexo Oracle to promote a portion of the crypto belongings held in your account to repay the excellent steadiness partly or totally.

That is helpful ought to your asset admire considerably in worth, and it’s price noting that should you repay a mortgage inside 30 days of the final withdrawal, you’ll nonetheless be charged curiosity for the complete 30 day interval.

You may make mortgage repayments at any time and utilizing any quantity of fiat or crypto, and you’ll at the moment repay a mortgage utilizing the next currencies:

  • Fiat: USD, Euro, GBP
  • Crypto: BTC, ETH, XRP, LTC, XLM, stablecoins and NEXO (at the moment solely the curiosity could be repaid with Nexo)
  • Any mixture of Fiat and Crypto
The Nexo Business Model
The Nexo Enterprise Mannequin

Supported Currencies

The platform accepts quite a lot of currencies as funding and the next cash can be utilized as collateral:

  • BTC
  • ETH
  • XRP
  • LTC
  • XLM
  • BCH
  • EOS
  • TRX
  • NEXO
  • BNB
  • Stablecoins (USDT, TUSD, USDC, PAX, and SAI)

Nexo at the moment helps 45 totally different fiat currencies which permits customers in a variety of various international locations to make fiat withdrawals.

Currencies equivalent to USD, EUR, GBP, JPY, AUD, and CAD are supported, whereas Nexo additionally permits fiat transfers in RON, PHP, UAH, and PKR.

The Excessive Yield Curiosity service helps the deposit of funds in USD, EUR, and GBP in addition to within the USDT, TUSD, USDC, PAX, and SAI stablecoins.

Nexo Supported Currencies

The right way to Receive a Low cost Utilizing the Nexo Token

The platform incorporates its native NEXO token which can be utilized to acquire a reduction on the annual rate of interest of your crypto backed mortgage.

The usual Annual Share Fee (APR) on the platform is 11.9% and this may drop to five.9% (a 50% low cost) while you use NEXO tokens as collateral or while you make repayments utilizing NEXO.

From February tenth, with a view to obtain the complete 50% Credit score Line Curiosity Low cost, you should purchase and stake sufficient NEXO Tokens in your Nexo Pockets to cowl the curiosity for the interval from withdrawing funds from the credit score line up till the second of reimbursement.

Anybody staking NEXO Tokens of their Nexo Pockets for less than a part of the length of their mortgage will obtain a Credit score Line Curiosity Low cost proportional to the variety of days out of your complete interval for which that they had a adequate quantity of NEXO Tokens staked to cowl the curiosity.

All curiosity amassed on the platform is calculated by the Nexo Oracle which determines the curiosity and respective low cost for each shopper’s pockets each day.

For Instance:

In case you are planning to withdraw a $1,000 mortgage for a interval of 1 yr, then in a single yr’s time, your mortgage would generate excellent curiosity within the quantity of ±119.00 (1,000 x 11.9% = 119).

Right here, to make sure that you qualify for the 50% Credit score Line Curiosity Low cost you would wish to stake no less than ±119.00 USD price of NEXO Tokens all through the entire yr.

If at a sure time limit your excellent pursuits exceeded the worth of your NEXO tokens your each day curiosity can be adjusted accordingly from that second onwards.

Utilizing the above instance, if the worth of your NEXO Tokens drops to ±60 USD then the each day curiosity can be roughly 9% (50% at 11.9% and 50% at 5.9%).

How Safe is Nexo?

The workforce have not too long ago introduced that the corporate has attained the ISO/IEC 27001:2013 Certificates on account of their data safety administration system (ISMS) being audited by CISQ, the world’s largest supplier of administration system certification, and business chief RINA.

The ISO/IEC 27001 certification ensures that Nexo’s safety infrastructure is of the best customary, and the workforce make use of a variety of safety protocols equivalent to 256-bit encryption and locking private data behind secured networks solely accessible to a restricted variety of employees, with all delicate shopper data additionally encrypted through Safe Socket Layer (SSL) know-how.

Accounts are secured by a mixture of passwords and two-factor authentication (2FA), and you’ll select to obtain an SMS message, or use an app like Authy to finish your signal ins.

Nexo additionally complies with all related legal guidelines surrounding anti-money laundering and terrorist financing which signifies that all customers are required to confirm their id, and Nexo makes use of Onfido as a trusted third-party to finish the KYC course of.

Nexo Dashboard
The Nexo Dashboard

Most significantly, purchasers funds are held in individually assigned multi-signature wallets in chilly storage, held with BitGo which is a completely audited, SOC 2 Kind 2 licensed, third-party custodian.

In consequence, funds held with BitGo are insured as much as a worth of $100 million as the corporate is in flip insured by Lloyd’s of London. This custodian settlement applies if the platform will get hacked, loses its non-public keys, or has funds stolen by an worker.

The corporate operates to a excessive diploma of professionalism; nevertheless, whereas it’s legally compliant in every jurisdiction it operates in, Nexo remains to be ready to be regulated by a effectively revered monetary authority.

Nexo Security

Is Nexo Appropriate for Rookies?

When coping with the DeFi sector, many of the actions concerned take a while to get used to. That is additionally true when coping with crypto loans, and the platform is usually higher suited to people with some expertise of buying/buying and selling cryptos, staking cash, and/or taking out loans and paying again mortgages.

Nonetheless, Nexo employs a system that isn’t too tough to become familiar with and there aren’t any minimal reimbursement quantities, alongside rates of interest of both 5.9% or 11.9%, and also you solely accrue curiosity on any quantities withdrawn.

There’s additionally a excessive degree of flexibility when utilizing the platform and loans could be repaid in full at any time, and you may as well repay your mortgage in crypto, fiat or a mixture of each.

For novices, the power to earn curiosity on funds you deposit will be the extra interesting characteristic.

As well as, Nexo supplies a host of assets on their web site and these embrace a Assist Middle, Weblog, FAQ part, and Assist Middle. The assist workforce could be contacted by filling out a request ticket, sending an e mail to, or through the use of the Dwell Chat perform, which is situated on the underside proper aspect of your display.

The workforce additionally run a variety of social media channels in a variety of totally different languages and these embrace an official Telegram Group,  Twitter account, and Fb web page.

Nexo's Growth Numbers

There are additionally teams obtainable for Chinese language and Korean customers and the webpage is offered in ten languages together with French, Spanish, Russian, Chinese language, Japanese, and Korean.

Different options such because the Cell App assist to streamline the service and enhance the general person expertise, whereas SMS and e mail notifications of adjustments within the worth of your deposit are additionally very helpful. The KYC course of can also be fairly simple and requires the add of a high-quality picture of your government-issued ID.

All in all, Nexo is suited to people with some expertise in crypto or investing who’ve crypto holdings that they want to put to work.

Whereas Nexo is likely one of the extra simple lending platforms to make use of, you’ll nonetheless have to become familiar with utilizing the Nexo Oracle and staking NEXO cash, and it’s clever to familiarise your self with the LTV ratio and precisely the way it impacts your circumstances earlier than taking out a mortgage.

Nexo have built a very good user interface
Nexo have constructed an excellent person interface


Nexo is an revolutionary and ahead considering platform for immediate crypto loans which permits folks in over 200 international locations to make use of their crypto holdings to obtain loans in round 45 fiat currencies.

The platform is effectively designed and the method of making an account, depositing funds, and taking out a mortgage is comparatively simple with the dashboard being simple to navigate and litter free.

The corporate can also be proving to be extremely popular and is gaining traction with a major a part of the crypto neighborhood as Nexo has processed over $700m price of loans for its 200,000 customers.

The flexibility to earn curiosity on funds deposited is one other alluring characteristic whereas the Nexo bank card and cellular app make spending your mortgage even simpler.

The challenge permits folks to place their digital belongings to work and acquire immediate entry to money whereas nonetheless retaining possession of their belongings.

As well as, the system is very tax environment friendly as you by no means really money out that means that you just aren’t liable to pay any further takes in most international locations.

Nonetheless, like every crypto platform or lending establishment it does take some getting used to and should you fail to make any repayments whereas your safety deposit depreciates in worth, then a part of your safety deposit can be bought routinely with a view to cowl any worth shortfalls. In consequence, it’s greatest to remain on prime of the LTV ratio, Nexo Oracle, and Staking course of to make sure you are snug with how the system works.

Moreover, whereas Nexo is totally compliant in all of the jurisdictions it operates in, it’s nonetheless ready to be regulated by a effectively recognised authority and the crypto business is thought for its volatility and sudden adjustments.

That being stated Nexo is a strong selection for anybody seeking to receive capital by placing up their crypto holdings as collateral, and anybody ought to take take a look at the mortgage system with a view to determine simply how they’ll profit from utilizing the platform.

Go to Nexo



  • Instantaneous Loans With out Cashing Out
  • Earn Curiosity on Fiat and Stablecoin deposits
  • Clear/Straightforward Interface and KYC Verification
  • No Credit score Checks
  • Built-in Credit score Card & Cell App


  • Considerably Centralized Service
  • Margin Calls Doable
  • The Staking Mannequin Takes Getting Used To

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