Nexo Review 2020: Instant Loans Backed by Crypto

Nexo is a lending platform focused on providing instant loans to crypto users. Prior to their work in the crypto space, the people behind Nexo were providing traditional instant loans to Europeans since 2007 through a platform called Credissimo. Nexo works like a traditional bank where, in addition to gaining access to an instant credit line, users are able to earn interest on their crypto holdings.

Nexo Logo


  • Easy to use, simple crypto lending platform
  • Fully insured, licensed & regulated
  • Allows customers to borrow in 45+ different currencies
  • Nexo Debit Card works using Mastercard technology

General Overview

The Benefits PRO's
  • Quick crypto loan process
  • Those earning interest receive compounding interest payouts daily
  • One of the best rates on the market at 5.9% APR for crypto loans
  • Funds are held by well-known crypto custody solutions like BitGo
The Downside CON's
  • Cannot earn interest on cryptocurrency deposits that aren’t stablecoins
  • Earning Interest on stablecoin holdings are lower than on other platforms

Nexo at a Glance

Built-in Exchange No
Other Tools Card
Max interest available 8%
Headquarters Zug, Switzerland
Year established 2017
Proprietary credit card Yes
Minimum loan amount $500
Maximum loan amount $2,000,000
FDIC Insured No

Funding Methods

Funding Method Deposit Withdrawal Speed
Bank Account (ACH) No No n/a
Credit Card No No n/a
Debit Card No No n/a
Wire Transfer Yes Yes 2-5 Business Days
Cryptocurrency transfer Yes Yes Nearly instant

Nexo Overview

Nexo is a crypto lending platform that focuses on services for borrowers and lenders rather than a wide array of different crypto-related features. Headquartered in Zug, Switzerland the platform has its own related token, which is also known as Nexo.

In addition to a variety of cryptocurrencies and stablecoins, Nexo also allows its users to earn interest on traditional EUR, GDP, and USD deposits. However, these assets are converted into stablecoins upon deposit.

To date, Nexo has processed more than $1 billion worth of crypto loans for more than half a million users. Although there are not many additional services offered by Nexo, their focus on user borrowing and lending allows a certain level of simplicity for the user.

In terms of safety and security, Nexo has partnered with BitGo to offer insured custody of user assets. Additionally, Nexo goes above and beyond in the area of regulatory compliance and is trusted by the likes of Coinbase and TransferWise.

Nexo also has their own token, which pays dividends to its holders and can be used to receive various discounts on the Nexo platform.

Crypto Loans

Whether you’re using their website or mobile app, taking out a loan via Nexo is a rather straightforward process, and the interest rates are highly competitive.

Screenshot of's Homepage

After depositing collateral onto Nexo in the form of Bitcoin, Ether, Litecoin, or one of the 21 other available cryptocurrency options, the user receives an instant, flexible credit line via a completely automated application process. This process is able to be streamlined, thanks to fact that all of the loans are overcollateralized with users’ cryptocurrency holdings. Users who use NEXO tokens as collateral are able to receive a discount on their interest payments.

A user’s loan money can be sent either to their bank account or added to a Nexo debit card. Rates for these loans start at 5.9% APR. There are no minimum repayments or hidden fees; however, the user’s collateral will be taken by Nexo in a situation where the user does not pay back the loan in a timely manner.

The loans offered by Nexo are also available as smart contracts on the blockchain; however, there are still quite a few points of centralization involved in this process as it exists today.

The amount of money that a user will be able to borrow against their cryptocurrency deposit will depend on the specific crypto asset being put down as collateral. For example, users depositing Bitcoin or Ether are able to borrow more than 50% of the value of their collateral, while those depositing Stellar Lumens will only be able to borrow 17% of the value of their deposit. These varying loan-to-value percentages available with each asset are based on the liquidity and volatility associated with them. This way, Nexo builds a safety net for its users to guard against the potential collapse of its users’ cryptocurrency holdings.

Interest Accounts

Nexo Interest Account holders are able to gain access to 8% APR interest on their deposits. Accounts can be opened online, instantly and at no cost.

It should be noted that Nexo users are unable to earn interest on all types of cryptocurrencies. Deposits to interest accounts can only be made with EUR, GBP, or USD, and the deposits are held in the form of stablecoins.


Nexo offers a Mastercard card, which allows users to gain access to their credit line around the world. The card comes with no monthly or annual fees and offers cashback rewards on all purchases. These cashback rewards can get as high as 5%.

The Nexo mobile wallet is available on the Google Play and Apple App Stores. This wallet must be used by NEXO token holders in order to access their dividend payments. The Nexo card can also be access on the Nexo mobile app.

While having the NEXO token that pays out profits to token holders is a nice addition, there is no exchange to be found on this platform. Nexo does not have many other features outside of its crypto lending platform, and Nexo Mastercard card.

History of Nexo

Nexo was created by European fintech company Credissimo, who had 10 years of experience offering instant loans to Europeans before working on their new venture in the cryptocurrency market. In the past, Credissimo was in the 2017 Top 10 Alternative Finance in European FinTech Awards and received two Forbes Business Awards in the same year. Credissimo integrated Bitcoin as an option for paying back loans in 2016.

The majority shareholders of Credissimo, who are also the founders of the company, are also majority shareholders of Nexo.

Nexo was founded in 2017, and the initial coin offering associated with the platform’s token occurred in March 2018. Frequently Asked Questions

About the Author

Arthur Crowson, CryptoVantage

Arthur Crowson

Arthur Crowson is an award-winning writer and editor who hails from the Pacific Northwest. His career began in traditional news media but he transitioned to the online arena in the mid-2000s and has written extensively about the online poker boom and the rise of cryptocurrency.