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

Overall Score:

8.5
Trusted
Global Access:
8 of 10
Interest Accounts:
7 of 10
Ease of use:
9 of 10
Trust:
8 of 10
Fees & Rates:
9 of 10
Support:
8.5 of 10

Nexo Interest Account Overview

APY Rates8% - 8.6%
Interest Earning AssetsUSD, EUR, GBP, USDT, TUSD, USDC, DAI, PAX
Rate VariabilityLow Variable
Earn Interest onFiat, Stablecoin
Deposit Amounts$1 - $2,000,000
Payout FrequencyDaily
Lockup TermsFlexible
Compound InterestYes
Network TokenNEXO
Token BenefitNexo tokens do not have any benefits for the Interest Account rates offered.
Platform TypeCentralized Lender
Deposit InsuranceTrue
Credit checkNo
KYC CheckYes
Platform FeesNo Fees
Supported RegionsAll Countries
Excluded RegionsSanctioned Countries

Nexo Interest Rates (APY)

Earn OnAPY Rate
US DollarsUSD8.6%
EuroEUR8%
Pound sterlingGBP8%
TetherUSDT8%
TrueUSDTUSD8%
USD CoinUSDC8%
DAIDAI8%
Paxos StandardPAX8%

Nexo (NEXO) Token

Ticker

NEXO

Price

$0.15

Volume

$8,000,542.60

Market Cap

$84,221,929.00

Circulating Supply

560,000,011

Total Supply

1,000,000,000

Rank

107

Blockchains

Ethereum

Trusted Exchanges

Huobi Global, Binance DEX

Hardware Wallets

Ledger, Trezor

Nexo (NEXO) Token Exchanges

ExchangeRatingPricePairs24hr Volume
Huobi Global8/10$0.153$2,528,205.10
Binance DEX5.5/10$0.131$1,307.49

Recommended Nexo (NEXO) Walletss

WalletRatingTypePrice
Ledger10/10Hardware$69.99
MetaMask8/10Browser Extension$0.00
Ledger Nano M7/10Mobile Application$96.00
Trezor9/10Hardware$149.99
MyEtherWallet9/10Web$0.00
MyCrypto9/10Web$0.00
TrustWallet9/10Mobile Application$0.00

Nexo Interest Account Alternatives

Rating8.5/107.5/108/10
Best Stablecoin APY RateUSDT 8%DAI 1134200.00%GUSD 8.6%
Locked TermsFlexibleFlexibleFlexible
Payout FrequencyDailyDailyMonthly
Compound InterestYesYesYes
Deposit InsuranceYesNoYes
KYC CheckYesNoYes
Credit CheckNoNoNo
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • Stablecoin Interest Rates - Nexo yields up to 8% APR interest on the following stablecoins: USDC, DAI, TUSD, PAX, & USDT.
  • 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 withdrawal their assets at any time without penalty.
  • Fees - Nexo does not charge users 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.
  • Mobile App - Mobile applications are available on the Google Play and Apple App Store.
  • User Experience - Nexo has invested significant resources into their 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 or stablecoins.

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

Nexo's Official Website

  • Earn 8% interest on the popular stablecoins like USDC, DAI, TUSD, USDT, and PAX
  • Supports interest accounts in fiat USD and international currencies EUR, and GBP.
  • "100% Asset-Backed Guarantee" on Interest Deposits.

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

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The interest product providers found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our interest product reviews and comparisons include: APR rates, compound interest, available assets, terms and fees, and deposit amounts.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

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