Nexo Interest Account
Best For
- Retail Lenders
- Stablecoin Holders
- USD, EUR, & GBP Interest
Nexo is a centralized crypto asset lending platform with high bearing interest available for select fiat currencies and stablecoins. Launched in 2017 as a subsidiary of Credissimo, Nexo is licensed for operations in over 250 jurisdictions worldwide.
Nexo Interest Account - 2020 Comprehensive Review
Nexo Interest Account Overview
| APY Rates | 6% - 10% |
|---|---|
| Interest Earning Assets | USD, EUR, GBP, USDT, TUSD, USDC, DAI, PAX, BTC, ETH, XRP, BCH, LTC, EOS, LINK, XLM, TRX, PAXG |
| Rate Variability | Low Variable, Fixed |
| Earn Interest on | Fiat, Stablecoin |
| Deposit Amounts | $0 - $2,000,000 |
| Payout Frequency | Daily |
| Lockup Terms | Flexible |
| Compound Interest |  |
| Network Token | NEXO |
| Token Benefit | Nexo tokens do not have any benefits for the Interest Account rates offered. |
| Platform Type | Centralized Lender |
| Deposit Insurance |  |
| Credit check | |
| KYC Check | |
| Platform Fees | No Fees |
| Supported Regions | All Countries |
| Excluded Regions | Sanctioned Countries |
Nexo Interest Rates (APY)
| Earn On | APY Rate |
|---|---|
| US DollarsUSD | 10% |
| EuroEUR | 10% |
| Pound sterlingGBP | 10% |
| TetherUSDT | 10% |
| TrueUSDTUSD | 10% |
| USD CoinUSDC | 10% |
| DAIDAI | 10% |
| Paxos StandardPAX | 10% |
| BitcoinBTC | 6% |
| EthereumETH | 6% |
| XRPXRP | 6% |
| Bitcoin CashBCH | 6% |
| LitecoinLTC | 6% |
| EOSEOS | 6% |
| ChainlinkLINK | 6% |
| StellarXLM | 6% |
| TRONTRX | 6% |
| PAX GoldPAXG | 6% |
Nexo (NEXO) Token
Ticker NEXO |
Price $0.58 |
Volume $3,918,454.84 |
Market Cap $324,619,312.00 |
Circulating Supply 560,000,011 |
Total Supply 1,000,000,000 |
Rank 104 |
Blockchains Ethereum |
Trusted Exchanges Huobi Global, Binance DEX |
Hardware Wallets Ledger, Trezor |
Nexo (NEXO) Token Exchanges
| Exchange | Rating | Price | Pairs | 24hr Volume |
|---|---|---|---|---|
| Huobi Global | 8/10 | $0.57 | 3 | $2,268,621.88 |
| Binance DEX | 5.5/10 | $0.57 | 1 | $28,167.76 |
Recommended Nexo (NEXO) Wallets
| Wallet | Rating | Type | Price |
|---|---|---|---|
| Ledger | 10/10 | Hardware | $69.99 |
| MetaMask | 8/10 | Browser Extension | $0.00 |
| Ledger Nano M | 7/10 | Mobile Application | $96.00 |
| Trezor | 9/10 | Hardware | $149.99 |
| MyEtherWallet | 9/10 | Web | $0.00 |
| MyCrypto | 9/10 | Web | $0.00 |
| TrustWallet | 9/10 | Mobile Application | $0.00 |
Nexo Interest Account Alternatives
Pros and Cons
Pros
- Stablecoin Interest Rates - Nexo yields up to 10% APR interest on the following stablecoins: USDC, DAI, TUSD, PAX, USDT & HUSD.
- Fiat Interest Rates - Nexo is the only crypto lending platform that offers interest rates on traditional fiat currencies. Users can deposit and earn interest on USD, EUR, and GBP.
- Compound Interest - Account balances earn compounding interest paid out daily.
- Flexible Lock Ups - Users can withdraw their assets at any time without penalty.
- Fees - Nexo does not charge lenders any substantial fees when using their services.
- Regulated & Compliant - The Nexo Group is licensed to operate in all jurisdictions where services are available.
- Established Company - Nexo is a subsidiary of Credissimo, an established traditional finance company founded in 2007.
- User Experience - Nexo has invested significant resources into its platform to ensure a streamlined, automated, and beginner-friendly experience for users.
Cons
- Privacy - Nexo requires all users to submit identity documentation and pass KYC in order to use their services.
- Native Platform Token - The NEXO token does not have many benefits for users seeking to use the platform to earn interest on their fiat, stablecoins, or crypto assets.
- Variable Interest Rate - APR interest rates are subject to change at any time as per the Nexo terms and conditions.
- Fiat USD Requirements - Users must fill out a special form and deposit a minimum of $50,000 before they are able to start earning interest on fiat USD.
Frequently Asked Questions
Does Nexo accept US customers?
Can I earn interest on my Bitcoins with Nexo?
Can I earn interest on my stablecoins with Nexo?
Does Nexo offer compound interest on account balances?
Can I earn interest on my fiat with Nexo?
Summary
Nexo is one of the most successful crypto lending platforms in the industry. An automated user experience, competitive interest rates, global availability, and an established parent company have all contributed to the company’s early success.
Their current customer base includes retail and institutional crypto asset investors, miners, exchanges, and other blockchain-focused companies looking to earn interest on their capital. Nexo has also recently announced that Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) interest payments will soon be supported.
Nexo is an above-average choice for both investors and blockchain-focused companies looking to earn interest on their crypto assets. The Nexo team has significant experience in the lending industry, investor assets are stored with BitGo, and their services are available in the majority of countries.
| Learn More | Best Features |
|---|---|
|
Legal & Regulation - Facts & Figures
| Legal Name | Credissimo AD-Sofia |
|---|---|
| Incorporated Country | Malta |
| Headquarters | Sofiya, Bulgaria |
| Year Founded | 2007 |
| CEO | Sokol Iankov |
| Total Employees | 101-250 |
| Regulators | Unclear Regulation |
| Links | Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn |
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About The Author
Delton has been writing about blockchain finance & technology, decentralized applications, and crypto assets since 2017. His work has been published and featured by several independent news publications and blockchain projects.
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