How to Use to Earn Interest

Nexo Review 2022: Features, Fees, Pros & Cons

Want to know how to earn passive income on your crypto assets? In this Nexo review for 2022, I explain how you can earn up to 12% APY lending your crypto to Nexo, also how to borrow against your asset to take out a loan.

Instead of just locking your crypto away in a secure wallet or exchange, you can now start earning daily interest with Lending isn’t the only feature available on the Nexo platform, you can also borrow fiat by using your crypto as collateral. We’ll also take a look at the other short-term lending platform such as BlockFi and Celsius Network and see how they compare.

Nexo Review 2022

Nexo Welcome Bonus

What is Nexo?

Nexo was launched in 2018 by Credissimo, the leading European fintech group. They state they provide the world’s first instant crypto credit lines and have processed more than $13 billion for 2,500,000+ clients in 200+ jurisdictions.

The platform is centralized and users can deposit cryptocurrencies to earn interest. Or they can use crypto as collateral to borrow cash or stable coins instantly.

What is
Nexo in Numbers

NEXO Token

Nexo has its own NEXO token which they deem is the world’s first dividend-paying asset-backed token. Essentially. itis the key to unlocking the full potential of Nexo, as you’ll get higher earning rates and their lowest borrowing rates. Plus you’ll get free crypto withdrawals.

The token is Ethereum based ERC20 token that can also be sent on the BEP2 network. In terms of performance, the NEXO token did incredibly well in 2020, increasing by a massive 3241%.

What is NEXO Tokens

With NEXO, users can:

  • Earn 12% APY for stablecoins, and EUR, GBP and USD deposits
  • Pay 6.9% APR for Nexo’s Instant Crypto Credit Lines
  • Get free crypto withdrawals
  • Vote on Governance Proposals

Where Can I Buy NEXO Tokens?

The NEXO platform includes an exchange, where users can purchase the NEXO token without having to leave the site. Users can purchase NEXO with the FIAT currency such as USD, GBP, or EUR.

Alternatively, you can also swap your cryptocurrency for NEXO, using their swap function where you can select from a whole host of cryptocurrencies.

The NEXO token is also listed and available for purchase on over 20 exchanges including the likes of UniSwap, Huobi, Binance DEX, and 1inch.

Where to buy NEXO Token
Crypto Ledger Pack Every Bit Helps

NEXO Dividends

NEXO tokens holders used to receive a portion of Nexo’s net profit in the form of dividends. With the company paying out a total of $30 million since 2018. However, the Dividend program came to an end in June 2021, after the Nexo community indicated their preference for daily payouts of up to 12% APY on NEXO tokens over dividends.

Nexo Dividends Payments

NEXO Token Daily Interest

NEXO Token holders can receive up to 12% interest per annum. This interest is paid out daily, on the NEXO Tokens held in both the Savings and Credit Line wallets of their Nexo accounts.

All users receive a base rate of 7% interest for FLEX Terms. However, anyone on a Fixed Term for 1 month will receive between 8% and 12% interest. This daily interest is paid out in NEXO tokens and applies to all NEXO token holders (unless they are citizens or residents of the state of New York).

Nexo $25 Referral Offer

Nexo introduced its Nexo referral program in July 2021. Currently, new users to Nexo can now a welcome bonus of up to $100 when their use our exclusive referral link, complete identity verification, and deposit $100 or more.

BTC sign-up rewards will be instantly available and will be unlocked after 30 days. 

  1. Sign-up to Nexo with referral link
  2. Complete advanced verification & confirm identity
  3. Deposit $100+ into Nexo
  4. Earn up to $100 welcome bonus (unlocked after 30 days)
Nexo Referral CodeClick Here to Sign-up to Nexo
Sign-up BonusDeposit of $100 $10 Welcome Bonus
Deposit of $200 → $20 Welcome Bonus
Deposit of $500 $50 Welcome Bonus
Deposit of $1000 → $100 Welcome Bonus
Referral Bonus TermsComplete Advanced Verification to confirm their identity.& deposit $100+
Bonus Last VerifiedMarch 2022
Nexo Referral Bonus

Nexo Loyalty Program

With the launch of Nexo’s Loyalty program, you need to stake a certain percent in $NEXO Tokens in order to receive lower interest rates for loans and increased yields on deposits. The program comprises 4 tiers which are as follows;

  • Base: Less than 1% of NEXO Tokens in your Portfolio Balance
  • Silver: At least 1% of the Portfolio Balance in your account must comprise NEXO Tokens
  • Gold: At least 5% of the Portfolio Balance in your account must comprise NEXO Tokens
  • Platinum: At least 10% of the Portfolio Balance in your account must comprise NEXO Tokens
Nexo Loyalty Program


With Nexo, you can earn daily compounding interest on your crypto or your FIAT currency likes Euros, GBP and USD, with rates up to 12%. Unlike a lot of other platforms or savings accounts, your funds are not locked up and you can withdraw at any time with zero fees.

To get the highest rates shown you will need to earn your interest in their NEXO token as well as hold 10% of your wallet balance in the token.

How Long Do Deposits Take?

For security purposes, Nexo will require a crypto deposit to receive a number of confirmations on the blockchain before the funds can be credited into your account.

These confirmations will all depend on if the network is congested and on the blockchain. For example, Bitcoin deposits require 6 confirmations, Ethereum based deposits are 50 confirmations and XRP are nearly instant.


In traditional banking systems, if you want to borrow money for a car, a house, or your next vacation, loan approvals can be slow. Plus you have to go through some credit scrutiny with credit checks based on your credit score.

However, Nexo approves loans in seconds, and money is sent straight to your account.  Previously these rates started at 5.9% however increased to 6.9% APR from May 26th, 2021.

nexo crypto loans

This is all done by collateralizing your crypto. Previously, if you wanted to free up some funds you’d need to sell your crypto. However, with Nexo, you can simply use it as collateral to borrow funds.

You can borrow cash or stable coins from as little as $10 all the way up to $2M. However, this will obviously depend on the amount of collateral you deposit. 

You can take a Nexo loan equal to (or up to) 50% of the crypto collateral you deposit. In other words, if your collateral is $1,000, you can get a loan of up to $500. This is done in order to protect the system.

Just in case there was a crash in the value of the crypto which is obviously very volatile.

Celsius Network Promo Code 2021

What Tokens are Accepted as Collateral?

With Nexo, you can use over 20 digitals assets as collateral including cryptos such as BTC, ETH, SOL, NEXO and XRP or Stablecoins such as USDC or USDT. Nexo doesn’t support wrapped tokens such as wBTC OR wETH.

If you would like a token added you can contact Nexo and fill out an application form.

crypto to borrow against nexo

What is Loan to Value?

Your Loan-to-Value ratio is an indicator representing the size of your loan compared to the value of your assets that are securing the loan. This ratio can change, especially if the value of the collateral goes down. As the Loan-to-Value will then go up.

Therefore, monitoring your account is very important during market drops. If the price of your crypto asset falls too low, the Loan-to-Value will continue to increase and Nexo will automatically request (via SMS and email), that you repay your loan or add extra collateral in your Credit Line Wallet.

Nexo Loan to Value

LTV is calculated as the loan amount in USD divided by the value of the collateral in USD, expressed as a percentage.

Loan amount: $5.000
Value of collateral: $10.000
Loan-to-Value = ($5.000/$10.000)*100% = 50.0%

If you don’t repay, there is a threshold where assets from your Savings Wallet will be automatically moved to your Credit Line Wallet. 

If they are insufficient to cover the required Loan-to-Value, the collateralized asset will start being sold by Nexo to pay back part of the loan, in order to rebalance the Loan-to-Value. This threshold at Nexo is set at 83.3%. But before all that happens you will be notified via SMS and email.

However, on the flip side, if the value of the collateral increases, your credit line will be automatically increased as well. This could allow you to take another loan for example.

Nexo Loans

Loan to Ratio Rate Changes

As of 5th May 2021, the Loan-to-Value (LTV) ratios for 10 cryptocurrencies on the Nexo platform will be lowered, for clients withdrawing new credit lines on or after this date.

Below is a list of the new LTV rates;

Nexo LTV Rates Loan to Value

Nexo Card

Nexo has its own card. Letting you spend the value of your crypto without selling it. Cardholders can use the Nexo Card like any other card. Simply swipe your card and the payment amount is deducted from the available balance of your Instant Crypto Credit Line.

The card is accepted worldwide by 40M+ merchants and you can get 2% instant cashback on all purchases. Plus get flexible repayment options again with zero fees.

Nexo Card


Nexo boasts zero fees on its platform, for deposits, withdrawals, and repayments. You will find some minimum amounts for crypto and cash withdrawals, however, these are at no cost to the users.

What is the Minimum Amount of Crypto I can Withdraw?

The minimum amount of crypto you can withdraw from Nexo are shown below;

Nexo What is the minimum amount of crypto I can withdraw?


Nexo Customer Support can be contacted by filling in an online form or sending an email to Plus they have a 24/7 Live Chat facility available in the bottom right of the screen when you’re logged in.

When I contacted their support via chat, they were very helpful and responded within 5 mins.

Nexo Customer Support

Is Nexo Safe?

In terms of security, Nexo partners with the world-renowned custodian BitGo, Ledger Vault and other custodians whose facilities are insured via Lloyd’s of London and Marsh and Arch.

Nexo’s total insurance is currently $375 million which is one of the highest in the crypto lending industry. However, Nexo aims to up its insurance to $1 billion by the end of 2021.

Is Nexo Safe? Security

Is Nexo FDIC Insured?

Nexo is currently working on acquiring an FDIC-insured US chartered bank. With the aim to give them access to cost-efficient financing, plus a strong foothold in the US market.

Whilst this is underway it’s worth mentioning that they do secure all their crypto assets with the custodian BitGo, for maximum security.

BlockFi Referral Sign-up Offer

Nexo Audit

Nexo has recently announced that Armanino LLP (a certified PCAOB auditor) is now providing a real-time audit of Nexo’s audits. Becoming the first crypto lender to publicly open its books.

The 3rd party audit allows clients, regulators, and the public to instantly view Nexo assets and liabilities. These daily reports are viewable and downloadable for both Nexo’s Borrow and Earn Crypto Interest products.

Meaning that everyone can now verify, in real time that client holdings on Nexo’s platform are fully backed, setting an example for others in the industry to follow.

Users can view the real-time audit on the Nexo attest report page.

Nexo Audit


Rating: 4.5 out of 5.

As you can see from this Nexo review, it is an easy-to-use platform for lending with some fast results and good rates.

Although Nexo isn’t alone in this space you also have the likes of BlockFi and Celsius Network who also have their own token like Nexo. However, both BlockFi and Celsius offer sign-up bonuses to attract new users to their platforms which Nexo currently does not.

I’m very new to Nexo and haven´t experienced any problems thus far. When I contacted Nexo support, they were very quick to respond. One thing worth mentioning is their impressive Trust Pilot score of Excellent with 6,859 reviews.

I would like to see the Nexo card, which will see users earn a 2% cashback on purchases, this is something that Celsius and BlockFi don’t offer.

Nexo Trust Pilot Score
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