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Best Crytpo Trading PlatformChoose your quick section of our NEO review below.
A Quick Overview of our NEXO Review:
Nexo serves more than a million users who are spread across over 200 jurisdictions worldwide and manages more than 55 billion ZAR in assets.
NEXO Live Price
What is Nexo?
Nexo is an innovative and popular blockchain-based lending platform that aims to offer its users with instantaneous crypto-backed loans. Users can deposit a supported token as collateral and in return, they receive a loan in the form of a fiat currency or even a stablecoin, such as USDT.
Key Features and Takeaways of Nexo
Nexo is one of the most popular cryptocurrency projects and blockchain-based platforms that has some of the following key features and main takeaways:
Founded by a team of finance experts and crypto enthusiasts, Nexo aims to be the cryptocurrency equivalent of a service which has been well established in conventional finance, but hitherto non-existent in digital financing, allowing users to borrow against the value of their assets while simultaneously retaining ownership.
The collective behind the Nexo platform has combined experience of more than 30 years in financial services, investment banking, non-crypto lending, mergers, acquisitions, and more.
Nexo serves more than a million users who are spread across over 200 jurisdictions worldwide and manages more than 55 billion ZAR in assets. Nexo’s management is based in London and the company has 150 employees that form its staff compliment, with Antoni Trenchev as its co-founder and Managing Partner.
According to the white paper that was published on Nexo, it is the first-ever provider of instant crypto-backed loans and it aims to solve several inefficiencies in the lending market.
The automated lending process that Nexo offers makes use of smart contracts and an oracle, based on the Ethereum blockchain, to efficiently manage loans.
Once a user has transferred crypto to a Nexo-enabled wallet, the oracle will establish the loan and the user will have instant access to the allocated funds, either in fiat currency or in stablecoins.
Once the user makes a deposit to repay the loan, the oracle will return the crypto and subsequently record the transaction on the blockchain.
As an Ethereum-based platform, Nexo has unlimited access to using smart contracts to power the platform and to record user balances.
Nexo aims to establish a user base consisting of clients who continuously use the platform and who remain invested in NEXO. To ensure that this is the case, Nexo announced a loyalty program that rewards those who keen NEXO in their accounts, offering them with preferential interest rates on loans as well as higher yields on savings.
NEXO is a security token, and it is one that follows the Securities and Exchange Commission, Regulation D, Rule 506(c).
Nexo pays dividends to holders of NEXO, with 30% of profits generated from loans being placed in a dividend pool that is distributed to NEXO holders. The dividend payments are currently made in Ethereum (ETH) but there are plans in place for this to expand to other currencies.
Cryptocurrencies are inherent for their volatility and the market typically sees daily price swings of 10% and monthly swings of 50%, or more. Stablecoins such as TrueUSD and Tether have learned to deal with these upside price moves but they still struggle with falling prices.
Nexo has plans in place to use a concept from traditional lending which is known as “Loan-to-Value” (LTV) to assess various risks. Nexo uses a Nexo to determine the LTV ratio for borrowers, aiming to avoid situations where users face significant risks.
Nexo Mining
NEXO tokens cannot be mined or staked. Users are provided with the benefit of holders earning up to 30% of all net profits in the form of dividends. Nexo is the first platform in the world that is a dividend-paying and asset-backed token which has paid out more than 125 million ZAR in the last few years.
The NEXO token provides users with the following benefits:
Earn 12% APR for stablecoins as well as EUR, GBP, and USD deposits.
Earn 8% APR for BTC, ETH, XRP, BCH, LTC, BNB, EOS, LINK, XLM, TRX, and PAXG.
Borrow 5.9% APR for the Instant Crypto Credit Lines.
Receive 30% of the Nexo token net profit in dividends.
Pros and Cons
| ✔️Pros | ❌Cons |
|---|---|
| Nexo has high-yield savings accounts which earn up to 12% of interest on coins as well as fiat currencies | Nexo may be difficult for beginners to navigate and the platform lacks educational material that it competitors offer |
| There is a comprehensive Nexo app that makes the management of accounts simple | There is a lot of competition in the lending/borrowing crypto space |
| There are advanced security features as well as insurance | There is the risk of loss in lending during bear markets |
| NEXO is a security token, and it is one that follows the Securities and Exchange Commission, Regulation D, Rule 506(c) | There are problems and limitations with withdrawals |
| Nexo offers a card with which users can make payments as they would with a regular debit or credit card | Price volatility may be an issue |
| Nexo is fully regulated | There are some competitors that may have better interest rates |
| To receive the best rates, users must hold NEXO tokens |
Transaction Fees
| Type of Fee | Information |
|---|---|
| Trading Fees | 0.2% |
| Withdrawal Fees | 23.2 NEXO |
Should you buy Nexo?
Before investing, investors must consider the volatility of the token in comparison to the longevity of the company. The NEXO token launched after the bull market of 2017 but it did not see its sharpest gain until 2025 along with the bull run early in the year.
Whether Nexo is a good buy, will depend on whether investors plan to hold the token to receive profits or increase their APY in the interest account, which will be out of sheer speculation.
There are a lot of new crypto projects that offer lending/borrowing opportunities, but Nexo is the first provider of instant crypto-backed loans. In addition to this, the use of smart contracts to power the platform and to record user balances provides the project with more credibility.
Nexo is marketed specifically to individual and institutional investors as well as various cryptocurrency companies, exchanges, miners, and others who wish to gain liquidity from their assets.
Nexo aims to draw in more investors and users by offering users with a loyalty program that rewards holders of NEXO generously and by giving them preferential interest rates and higher yields.
How to buy Nexo (NEXO)
Step 1 – Register an account with Huobi Global
Users can navigate to the official Huobi Global website and select the option to “Sign Up” from the top right corner of the homepage.
Once selected, a pop-up account application will appear and users can register using their mobile phone number, or their email address.
The user must provide their nationality, email address, and a user-selected password that they must confirm before selecting “Sign Up”.
Once selected, a verification code will be sent to the email address or phone number that the user provided. This must be entered in the field provided and once complete, the user can select “Confirm” to proceed.
Once the user’s email address has been confirmed, a window will pop up, informing the user that signup has been successful, and they will be given with the option to deposit crypto into their account, or access the “How-To” guide before they start trading on the exchange.
Step 2 – Deposit funds
Users can deposit funds into their new Huobi wallet through the following ways:
Deposits from a crypto wallet.
Deposits with a VISA or Mastercard.
Bank Transfer.
Users must note that the minimum deposit that they can make is 1 000 ZAR or an equivalent in any other supported currency.
Step 3 – Security and Verification
Before users start trading it is imperative for users to make sure that they enable at least one authentication method, either their phone number or Google Authenticate.
Of the two options, users are advised to use Google Authenticate as it is one of the most secure methods. Once the user has selected the option to “Link GA”, they will be redirected to a page that will provide them with the options from where they can download it.
Once downloaded and installed on the user’s mobile device, the user can add and back up their key in Google Authenticate by using the QR function on the app. Once this is done, Google Authenticate will automatically generate a six-digit code that the user can enter to proceed.
An email verification code will be sent to the email address of the user and they must enter this in the field required before selecting “Confirm”.
Step 3 – Personal Verification
To ensure that users can enjoy financial security and to raise withdrawal limits and gain access to trading privileges, users must proceed with the following Verifications:
ID Verification
Advanced Fiat Verification
Derivatives Risk Verification
Each level of verification will require that the user carry out specific steps and submit certain documents as proof before they can be verified by the system successfully.
ID Verification requires that the user provide the following information along with a picture of their ID document:
Nationality
Identity Number
First and Last Name
A photo of the identity document that shows the information that they have provided.
Once the user has submitted their request, it can take up to 48 hours for the user’s identity to be verified. Once complete, users can either check the page to see the progress or they will be notified once it has been completed.
Step 4 – Start Trading
Users can select the “Market” tab at the top of the homepage to be redirected to the “Exchange” tab that will provide them with the trading options that they have and the range of coins from which they can choose.
Users can navigate to the search bar and enter “NEXO” to have their trading options displayed.
Users can select their preferred trading option from the list, and they will be redirected to the appropriate page where they can view real-time trading info for their crypto pair and the option whether to buy or sell NEXO.
Step 5 – Withdraw funds
To withdraw funds, the user can navigate to the “Balances” tab and select “Exchange Account” from the list of options.
The user will be redirected to a new page where they can select “Withdraw” from the provided options.
The user can select whether they wish to make a withdrawal in Cryptocurrency or in Fiat and complete the necessary fields on the new page that loads.
For withdrawals in Fiat, the user must provide the currency, which can either be USD, KZT, UAH, or EUR, their bank account, and the amount that they wish to withdraw. The withdrawal fee is automatically calculated according to the information the user provides.
For Cryptocurrency withdrawals, the user can enter the coin that they wish to withdraw, the chain name, the wallet address, and the withdrawal amount. Depending on the coin that the user is withdrawing, there are typically set withdrawal fees which are charged.
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FAQ
When was Nexo first launched?
Nexo was launched in 2018.
Who founded Nexo?
A team of finance professionals and crypto enthusiasts founded Nexo after they turned to blockchain technology to establish the crypto equivalent of services in traditional finance.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was Nexo’s ICO and how much did it raise?
The ICO for NEXO was held in 2018 and more than 733 million ZAR was raised.
Is Nexo legit?
Yes, Nexo is legit.
What is Nexo’s total supply?
The total supply of NEXO is 1 billion coins.
What is the purpose of Nexo?
To provide a blockchain-based lending platform which offers its users with loans that are instantly backed by cryptocurrencies.
On which blockchain is Nexo based?
Nexo is based on the Ethereum blockchain.
Does Nexo work with smart contracts?
Yes, Nexo uses smart contracts to power the platform and network, and to record the balances of its users.
Does Nexo have potential to become more valuable?
Yes, Nexo offers a unique service in a competitive field and it has already increased in value since launch, meaning that there is still a lot of potential for it to appreciate.
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