Nexo Review 2025 – Best Rates and Rewards in CeFi?

Nexo is a crypto platform that offers crypto-backed loans, high-yield savings accounts, and crypto payment cards. What started as a simple crypto lending platform in 2018 has evolved into a fully-fledged centralized platform serving millions of users worldwide.

This Nexo review dives into the platform’s safety, key features, interest and borrowing rates, token utility, fee structure, and more, to help you decide if Nexo is the right platform for your financial strategies.

Main Points of the Nexo Review

Nexo is one of the leading CeFi platforms thanks to its high-yield crypto savings and low APRs on crypto-backed loans.

Nexo Overview

Headquartered in Zug, Switzerland, the “land of finance”, Nexo is a centralized finance (CeFi) crypto lending and borrowing platform. This means all assets are under Nexo’s custody, and the platform requires its users to pass KYC and AML procedures to gain access to all Nexo services.

For comparison, decentralized platforms (DeFi) are typically non-custodial, and users usually don’t have to pass KYC procedures. But being centralized comes with certain advantages. Mainly, Nexo offers competitive rates on products like high-yield savings accounts, crypto-backed loans, an in-house crypto exchange, and a proprietary crypto credit/debit card for everyday spending.

Since it launched in 2018, Nexo has paid out over $1.2 billion in interest and now holds over $11 billion in assets under management.

What’s interesting about the platform is that it’s not only centered around digital assets; users can also lend and borrow fiat currencies, such as GBP, USD, and EUR, in the form of FIATx stablecoins.

Nexo selling points. Source: Nexo

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Assets You Can Use on Nexo

Nexo supports over 100 cryptocurrencies, stablecoins, and fiat currencies for its lending and borrowing program. Users can earn yields or borrow against coins like Bitcoin and Ethereum, as well as obscure altcoins like Morpho, Sonic, and Berachain.

However, not all cryptocurrencies are fully supported on Nexo. Some assets in the “Limited Assets” category can only be traded on the platform, but can’t be withdrawn into a non-custodial wallet. For example, BONK, TRUMP, and PENGU are considered Limited Assets and can only be swapped on Nexo.

Nexo Core Features

Nexo offers a range of tools and features to help users maximize their gains. Let’s take a look at the most prominent ones.

Borrowing Assets on Nexo

Whether you’re using the mobile app or the Nexo website, taking out a loan is a seamless process. Users can deploy their crypto, stablecoins, or fiat currencies as collateral and instantly borrow against them. There are no credit checks, as everything is automatically executed thanks to Nexo’s over-collateralization. Note that each asset is accompanied by its own Loan-to-Value (LTV) ratio.

Let’s see an example of borrowing against Bitcoin. Bitcoin offers a 50% LTV on Nexo, meaning you can borrow $50,000 with 1 BTC as collateral, assuming its price is $100,000.

If BTC drops to $60,000, your LTV will increase to 83.33%. This will trigger automatic repayment and liquidation. But if BTC reaches $150,000, your LTV will drop below 50%, allowing you to borrow more using the same 1 BTC of collateral.

Nexo annual savings rates. Source: Nexo

Interest rates vary depending on the asset and the user’s loyalty tier. For example, borrowing USDC against Bitcoin comes with an APR ranging from 2.9% to 18.9%. To get the lowest APR, you need to unlock the Platinum loyalty tier.

Earning Passive Income on Nexo

Nexo’s standout feature is its earn program, which allows users to earn a passive yield on their holdings, either via fixed-term or flexible savings.

Users who select fixed-term savings can earn the highest rates, which are up to 7% on BTC and up to 8% on ETH. Meanwhile, earnings on USDC are up to 14%, which beats many competing platforms. Assets under the fixed term can be used as collateral for borrowing or spending through the Nexo Card.

Nexo’s fixed terms are as follows: cryptocurrencies are locked for one month, stablecoins for three months, fiat currencies and the NEXO token between three and 12 months.

For flexible terms, users get slightly lower rates of up to 6% on BTC, up to 7% on ETH, and up to 12% on USDC. But there are no lock-up periods, and users can access these funds for trading or withdrawal at any time.

Both flexible and fixed-term savings support over 100 assets, including:

• Bitcoin
• Ethereum
• NEXO
• XRP
• BNB
• Solana
• DOT
• AAVE
• Lightcoin
• Arbitrum
• USDC
• GBP
• EUR

Nexo Card Benefits and Rewards

Another feature worth mentioning is the Nexo card. This is a globally accepted Mastercard-based card with up to 2% cashback rewards for its users. What makes it unique is that users can choose between debit and credit modes, giving them flexibility in how they use their funds.

Nexo payment card. Source: Nexo

In debit mode, users pay with fiat assets, such as USD, stablecoins, or cryptocurrencies stored in the user’s account. These assets continue to earn interest of up to 14% annually, using the flexible term, until all assets are spent.

In the credit mode, users pay through their available borrowing balance backed by their crypto assets as collateral.

Inside the Nexo Exchange

Nexo features a built-in exchange, enabling users to swap over 1,500 supported cryptocurrencies, stablecoins, and fiat. The exchange uses a Smart Routing system to scan multiple exchanges and find the best price for every transaction. Such technology can often provide users with the best rates compared to DeFi platforms.

Depending on the user’s loyalty tier, eligible swaps come with cashback rewards, where users can earn up to 0.5% back. For corporate clients and large-volume trades between $250,000 and $3,000,000, Nexo offers an OTC exchange.

Investors looking to diversify have the option to swap into “Crypto Baskets” and get exposure to multiple currencies with a single tap. Some of these baskets include Essentials (BTC, ETH, XRP, SOL, NEXO), DeFi (AAVE, ONDO, ENA, PENDLE, MOPRHO), and Memecoins (DOGE, PEPE, SHIB, BONK, TRUMP).

How the Nexo App Works

Users who prefer a mobile experience can download the Nexo app on their iOS, Android, or Huawei devices.

Nexo mobile app. Source: Nexo

In the app, users can buy up to 40 cryptocurrencies and use the Nexo exchange to trade across 1,500 trading pairs. Nexo’s mobile experience is designed to mirror the web platform, ensuring that its full set of features is available on any device.

Nexo Booster and Referral Rewards

Nexo offers more advanced features to help users maximize their gains. One of these is Nexo Booster, which allows users to increase their portfolio by using leverage to borrow additional funds. Users can “boost” their exposure by 1.5x to 3x. However, transactions have a cap of 70% LTV.

Another option is the Affiliate Program, where users can earn BTC rewards by inviting friends and family to join Nexo. When a new member registers via an affiliate link and completes certain tasks, users can earn 0.5% of the deposited balance. However, availability varies by region, with some countries, such as the United States and the United Kingdom, lacking support.

Benefits of Holding the Nexo Token (NEXO)

The NEXO token is the platform’s native asset, designed to power its loyalty program. Token holders unlock premium benefits, including lower crypto loan rates, depending on their loyalty tier. For example, Gold users receive an annual rate of 5.9%, while Platinum users get an annual rate of 2.9%. Additionally, token holders receive higher interest rates on their savings accounts.

Beyond earning and borrowing advantages, token holders receive additional perks. Platinum users are eligible for one free fiat or crypto withdrawal per month, while both Platinum and Gold users get access to a physical Nexo Card. NEXO token holders can earn up to 0.5% cash back on certain token swaps on the Nexo Exchange.

The NEXO token has a total supply of 1 billion, and it’s built on the Ethereum blockchain. However, not all tokens are in circulation, according to CoinMarketCap. Currently, NEXO has a fully diluted market cap of $1.2 billion, which makes it a top 100 cryptocurrency by market cap.

Can You Trust Nexo with Your Assets?

Our research suggests Nexo is a trustworthy company. Nexo is a fully-fledged crypto finance platform with over $11 billion in assets under management and trusted by over 7 million users. Even during the 2022 bear market, Nexo continued to perform well, while other platforms struggled.

Among the main reasons for Nexo’s survival during the crypto winter is its over-collateralization. This means the loans Nexo issued were backed by more assets than the value of the loans.

As far as platform security goes, Nexo uses Fireblocks and Ledger Vault’s institutional-grade security tools. For its users, Nexo offers support for SMS verification, email, and authenticator apps.

Understanding Nexo Fees

Borrowing on Nexo comes with an annual percentage rate ranging from 2.9% to 18.9%, depending on factors such as portfolio balance and loyalty tier. Smaller accounts will pay higher fees, while larger balances and NEXO token holdings will get the best deal.

For portfolios under $5,000, the APR is 18.9%. Balances above $5,000 unlock the loyalty program with lower rates. Here’s how they go:

• Base level comes with a flat 18.9% APR.

• Silver level is unlocked by having at least 1% NEXO tokens against the rest of your portfolio and unlocks 17.9% APR.

• Gold level is unlocked with at least 5% NEXO tokens against the rest of your portfolio and comes with up to 13.9% APR.

• Platinum level is unlocked by holding 10% NEXO tokens compared to the rest of your portfolio and has up to 10.9% APR.

Nexo tiers and benefits. Source: Nexo

Withdrawal costs on Nexo follow the same tiered approach as borrowing rates. Platinum-tier clients benefit from one free withdrawal per month, either for crypto holdings or fiat assets. In contrast, non-Platinum users incur a withdrawal fee based on the asset and the chosen withdrawal method.

Fiat withdrawals come with a:

• 5 EUR fee for SEPA transfers and 25 EUR for SWIFT transfers.
• 5 GBP for FPS transfers and 25 GBP for SWIFT.
• 10 USD for ACH and 25 USD for SWIFT.

Nexo Card users also incur certain processing fees, from 1.99% for EEA countries to 3.49% for non-EEA countries. Currency conversion charges another fee from 0.9% to 3.1%, while ATM withdrawals come with a 2% fee after you pass your free monthly ATM withdrawal limit.

Nexo Mobile Experience

Users who prefer to manage their assets on the go enjoy the same experience as if using the web application. You can swap crypto, open a credit line, or manage your Nexo Card, all within the palm of your hand.

With thousands of reviews and a four-star rating, Nexo’s app is one of the best in the industry. User reviews on the Google Play and App Store show that the app’s speed and functionality are among its top features.

On the other hand, some users mentioned issues with haptic feedback on certain Android devices. But this issue isn’t critical to the platform’s performance.

Getting Started on Nexo

Starting with Nexo is straightforward. Here’s a quick guide on how to create a Nexo account in three easy steps:

• Visit the Nexo website and enter your email address. After you receive a verification code, enter it on the website. You’ll be prompted to create a strong password.

Sign up and get started on Nexo. Source: Nexo

• Log in to your account and provide the required personal information. This includes your country of residence, legal name, and residential address, and regulatory information on your employment status and source of funds.

Add personal information when registering. Source: Nexo

• Select “Add Funds” to make your first deposit and choose your deposit option.

Add funds to your account. Source: Nexo

Nexo supports multiple methods for depositing funds, including card transactions, crypto deposits using supported blockchain networks, bank transfers, and local payment methods.

Note: You must pass a KYC process before you can deposit funds.

Help and Support at Nexo

Users have 24/7 access to personalized client care or a live chat via an AI assistant. There is also an expansive Nexo help center, which features a library of articles and other educational resources that answer common questions.

Even with its AI bot, we were pleasantly surprised by the user-friendly experience and its ability to resolve our issues in a timely manner. If the issue isn’t resolved, you can reach out to Nexo’s customer support at their official email [email protected].

Final Thoughts on Nexo

Nexo is one of the leading centralized platforms for crypto borrowing and lending since 2018. The platform has withstood downturns that competitors like BlockFi and Celsius have not, showing Nexo’s strength and resilience.

However, Nexo users should be aware that this is a centralized finance platform, where Nexo handles the custody of assets. Although the company uses state-of-the-art security, this is still something to keep in mind.

The platform combines interest-earning accounts with crypto-backed credit lines, as well as a card that supports daily spending and offers cashback rewards. Users can earn up to 14% annually with flexible terms and up to 16% with fixed terms, depending on the asset and their loyalty tier.

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Tony Frank

Crypto Editor, 89 posts

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Tony Frank is an accomplished cryptocurrency analyst, author, and educator whose work bridges the gap between complex blockchain technology and accessible, actionable insights for global audiences. Over the past decade, he has emerged as a respected voice in the rapidly evolving world of digital assets, combining technical expertise with a talent for storytelling to help readers navigate everything from Bitcoin’s monetary philosophy to the intricacies of decentralized finance (DeFi). Tony earned his Bachelor’s degree in Economics and Finance from the University of Melbourne, where he developed a deep interest in monetary systems and market structures. He later pursued a Master’s degree in Blockchain and Digital Currency from the University of Nicosia, one of the first academic institutions to offer accredited programs in cryptocurrency studies. Before focusing full-time on blockchain, Tony worked as a financial analyst for a multinational investment firm, covering emerging technologies and alternative asset classes. His early exposure to macroeconomic policy, global market behavior, and fintech innovation laid the foundation for his later work in crypto research and writing. Tony’s expertise spans multiple sectors of the blockchain industry, including cryptocurrency fundamentals, altcoin market cycles, DeFi and web3 trends and regulatory landscapes. Tony combines on-chain data analysis with macroeconomic research, providing readers with both the technical “how” and the market “why” of cryptocurrency movements.