Nexo Reviews

The Right Place For Your Crypto • Nexo

Crypto nexo.io
3.52
143 reviews
Great Rating
Based on 143 user experiences

Rated 3.52 out of 5 by 143 Happy Customers

42%
14%
14%
14%
15.4%
All 5 ★ 4 ★ 3 ★ 2 ★ 1 ★ 😊 Positive 😐 Neutral 😞 Negative Reset Filter
F

Good interests paid out daily but poor customer service

Great for immediate rewards in the form of interests paid out daily even on FIAT currencies EUR USD GBP Easy and fast to deposit and withdraw via bank transfer and crypto Exchanging fiat crypto within Nexo is not being done at the best market rate compared to the most popular crypto exchanges in the world at the time of writing this review Sometimes it s better to buy crypto on an external exchange and then transferring to Nexo for rewards Notes in February 2022 Nexo experienced a technical issue with a friend s BNB withdrawal on the BNB blockchain BNB disappeared from the wallet and never arrived at destination After reporting the problem to the Customer Service the BNB asset worth about 120 was returned to the original wallet after about 5 weeks It s unacceptable because during the 5 weeks the BNB asset experienced market price volatility Be aware of this It is very risky if you are exposed to volatile prices Nexo Customer Service missed the expectations of a quality service Since that day I stopped recommending Nexo to relatives and friends
I

Schizofrenic Nexo

All good until they decide you are a financial terrorist and don t let you withdraw your crypto holdings I wrote to their customer service telling them I was to write about this and they closed my account and said they would refund me money instead of crypto I ll let you know in 14 days if they refund me or have to assume they ve become insolvent This is not the way of doing business EDIT They refunded me but did not provide the exact reason to close my account Fortunately there are better exchanges
J

Nexos very limited top ups

There is one very annoying missing function in nexo Top ups for Sol Ftm ksm are not being enabled But think these coins have been in nexo for a long time now without activating this possibility Other newer added coins in nexo as ape sweat mana has however had this topup enabled from the very beginning I think its a descriminating matter you should take into consideration Nexo should also list Shiba inu This has been longer than ape in the crypto market There are many investors looking forward to it like me and to be honest Nexo is falling behind in this field I HOPE nexo listen to investors and take actions to develop their business otherwise will others overtake their place
M

Just another tradfi business

Just another crypto scam You can deposit but just go try and withdrawal Not even close to feasible Looking forward to this kind of thing being banned in the US Edit of course the platform discourages withdrawal by hiding behind security requirements The security requirements were impossible to fulfill I requested the absurdly specific documentation from my bank and my bank replied with a written refusal Luckily the platform did proceed to refund my purchase but I think it remains clear that exchanges like this have no incentive to permit self-custody and they will continue to find ways to prevent it Self-custody is the primary feature that crypto currencies offer In this supposedly new financial world we should not need to trust central authorities But as is clear from Nexo s behavior here self-custody is not a principle of theirs What do they want to occur here They want me to stay within the confines of their platform so that they can collect deposits and engage in lending the way traditional financial institutions do What feature did they require no verification for Borrowing I had an active credit line I didn t even ask for instantly Because that s their design I need no verification for lending because it serves their interests I require impossible to provide verification for self-custody because it doesn t serve their interests It s worth pointing out and I should point out that Nexo handled this better than any other of the many exchanges I ve interacted with They prevented me from doing something counter to their business model but they did not directly rip me off or make it onerous to get a refund So if you want to do business with them I don t think anything in my experience should prevent you from choosing to do so It s just that this is not a Web3 company it s a traditional financial institution A central actor that controls and manages your assets and makes money from lending Maybe it s better than Chase or Bank of America I don t know But don t expect to lift your dependence on central authority using a platform like this Edit Nexo claims they will provide support for self-custody but just not to anyone in the US As much as I admire this effort my overall point remains the same if you re a US customer this is just a poorly regulated traditional financial institution Even if this situation is not entirely Nexo s fault it s opportunistic and unprincipled to continue offering anything to US customers when you know that you cannot offer what crypto customers deserve - custody over their own assets
K

i can not withdraw or deposit money

i can not withdraw or deposit money into my nexo account
N

Withdrawal problems again

I instigated a withdrawal in GBP well in time to use my tax free limits in 2022-2023 Over 2 days later I had to raise a chat and it got sorted Unfortunately the money was deposited into my A C early hours of the 6th so the gains will come out from my new years tax limit increasing my tax bill It was not a large amount but this is not the first time there has been a delay in withdrawals I confirmed everything did the email verification and I still had to contact CS to get my money I normally accept an apology in exchange for inconvenience but on this occasion my tax position has been disadvantaged All I got from CS is an apology again and we are trying our best which for me is not good enough The favourable staking rates with Nexo is no longer enough for me when I have to spend time and effort having to chase up my withdrawals I have switched off the auto extensions on my crypto and I guess I will run the clock down and move them to one of the other exchanges which transfers my money crypto seamlessly and efficiently
G

Great potential but did not standup to SEC

What a great company with such great potential I was am a huge fan Unfortunately they did not take the SEC to court and unwilling to risk victory in the United States Instead of fighting a court battle that they could have won because the law is on their side They paid a fine and exited the US market One of the best companies in the Crypto Market and they did fight to stay WHY I would have rather the 30 million in lawyers fees
F

INSANE SECURITY PROCEEDURE

after having an account with nexo for 24 days today 24 JAN 2023 i can not get the sms authentification code on my request to fix the problem with the sms nexo DEMANDED a video record with sound of me and photo of my id and my face without an alternative i did as they said and send to nexo video of me together with my id photo and requested disabling of the sms code verification finally i get back access to my account nevertheless the security proceedure is INSANE
A

Very complicated

Very complicated I had transferred BTC to Nexo and later bought Nexo Tokens with it Now I want to sell Nexo Tokens and buy BTC with this money Nexo wants a verification but this is nearly impossible because they can t recognize my identity card or a selfie of me It is good that Nexo has rigorous security measures password and slider and google authenticator and PIN but it is far too complicated manage your account
R

Nexo misandrist feminist

Nexo just sent out a feminist misandrist mail about women in crypto Nexo feminist Why giving opportunities to women that would have otherwise been given to men is crucial for industry progression It isn t just about how blockchain can help women and other underrepresented groups transcend unconscious bias and other hurdles to equality it s also about why we need women for our space to evolve and improve Yes just reward women as always just because they got born women and is always treated as victim and protected by society Apparently its women who pay Nexo s salaries Nexo doesn t want us dirty white males money since they have strong and independent rich misandrist women who pay for it all

About Nexo

Nexo is the all-in-one crypto platform where you can buy assets, earn interest and borrow against them or swap between 300+ pairs. Get started now!

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Frequently Asked Questions

Nexo is a leading all-in-one digital assets institution that functions primarily as a crypto-backed lending platform. Its core services include Instant Crypto Loans, allowing users to borrow cash or stablecoins against cryptocurrency collateral; a High-Yield Earn Product for earning daily compounding interest on crypto and fiat; an integrated Exchange Service for swapping hundreds of crypto pairs; and a Crypto-Backed Credit Card for spending without selling digital assets.

Nexo's Instant Crypto Loans allow users to leverage their cryptocurrency holdings as collateral to obtain liquidity. By depositing supported digital assets, clients can instantly access cash loans in fiat currency or credit lines in stablecoins. These funds are typically disbursed to a bank account or digital wallet within minutes. A key feature is that no credit checks are required, as the loan is secured entirely by the user's crypto collateral.

Nexo implements a multi-layered security framework to safeguard client assets. This includes military-grade custodial insurance through partners like Ledger Vault and BitGo, real-time attestations of liabilities, and the storage of the vast majority of funds in offline cold storage. Furthermore, Nexo adheres to rigorous regulatory standards and holds licenses and registrations in multiple jurisdictions, contributing to its institutional trustworthiness.

The NEXO token is the native utility token of the Nexo ecosystem. Holding NEXO tokens within the platform grants users access to an enhanced loyalty program with tiered benefits. These benefits typically include higher interest rates on savings products, lower interest rates on loans, and additional rewards. The token also incorporates a profit-sharing mechanism, where a portion of the company's profits is distributed to eligible NEXO token holders.

Nexo serves a broad global audience, ranging from individual cryptocurrency enthusiasts and traders to institutional clients. Its services are designed for users seeking to earn yield on idle digital assets, those requiring instant liquidity without selling their crypto holdings, and institutions in need of sophisticated digital asset management tools. The platform's value proposition is financial empowerment through efficient and secure access to crypto-backed financial services.

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About Nexo

Nexo: A Comprehensive Overview of the Leading Crypto-Backed Lending Platform

Nexo operates as a prominent all-in-one digital assets institution, providing a sophisticated suite of financial services primarily built around cryptocurrency. At its core, Nexo functions as a crypto-backed lending platform, allowing users to leverage their digital holdings without selling them. By depositing supported cryptocurrencies as collateral, clients can instantly access cash loans or stablecoin credit lines, enabling liquidity while maintaining potential exposure to asset appreciation. This model has positioned Nexo as a bridge between traditional finance and the dynamic world of digital currencies.

Core Products and Services

The platform's ecosystem is designed to be comprehensive, catering to both individual and institutional clients. Its primary offerings include:

  • Instant Crypto Loans:Users can borrow against a wide range of cryptocurrencies and stablecoins. Loans are disbursed in fiat currency or stablecoins directly to a bank account or digital wallet, often within minutes, with no credit checks required.
  • High-Yield Earn Product:Nexo offers competitive interest rates on idle crypto and fiat assets. Users can earn daily compounding interest on over 30 different assets, with flexible terms and the added benefit of instant liquidity.
  • Exchange Service:An integrated swap feature allows for instant exchanges between hundreds of cryptocurrency pairs, providing seamless asset conversion within the Nexo ecosystem.
  • Crypto-Backed Credit Card:Nexo provides a card that enables spending powered by crypto collateral, allowing users to pay for goods and services without triggering a taxable event from selling their digital assets.

Security and Trust

Security is a foundational pillar for Nexo. The platform employs a combination of cutting-edge measures to safeguard client assets. These include military-grade, custodial insurance through partners like Ledger Vault and BitGo, real-time attestations of liabilities, and the use of cold storage for the vast majority of funds. Nexo is also compliant with rigorous regulatory standards, holding licenses and registrations in multiple jurisdictions, which adds a significant layer of institutional trust.

Native Token (NEXO)

The Nexo ecosystem is powered by its proprietary utility token, NEXO. Holding NEXO tokens within the platform provides users with access to enhanced benefits, forming a multi-tiered loyalty program. These benefits include higher interest rates on savings, lower loan interest rates, and additional rewards. The token integrates a dividend-like mechanism, where a portion of the company's profits is distributed to eligible token holders.

Target Audience and Value Proposition

Nexo serves a diverse global audience, from crypto enthusiasts seeking yield on their holdings to traders needing instant liquidity and institutions requiring sophisticated digital asset management tools. Its value proposition centers on financial empowerment, offering users the tools to unlock the value of their crypto assets efficiently and securely. By providing earning, borrowing, and exchange services under one roof, Nexo aims to be the primary destination for crypto-native financial needs.

In summary, Nexo.io represents a mature and regulated platform in the digital finance space. It successfully addresses key pain points of cryptocurrency ownership—illiquidity and idle assets—by offering instant loans and high-yield accounts. With its strong emphasis on security, regulatory compliance, and a user-centric product suite, Nexo has established itself as a trusted and comprehensive hub for crypto-powered finance.