Nexo 2022 product and service guide

Nexo 2022 product and service guide

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Mike
Mike

An editor at Coincrop


13 May 2022 | 7 min read
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exo is the world’s leading regulated institution for digital assets. Its mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient Instant Crypto Credit Lines, a high-yield Earn Crypto Interest Product, Send & Pay capabilities, and sophisticated trading & OTC services, bolstered by the top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo manages the assets of 4M+ users and processed over $80B since 2018.

In this guide:

What is Nexo?

Nexo is one of the world’s leading regulated financial Institution for digital assets. Antoni Trenchev is the co-founder and CEO. It was founded in 2017 and is based in London, England. Nexo has raised $52.5 million in funding and claims to have over $15 billion in assets under management.

The Nexo website

What is the history of Nexo?

The Nexo history can be chronically as follows:

- Founded June 2017 by Founders Antoni Trenchev, Georgi Shulev, Kalin Metodiev, Kosta Kantchev

- There are two funding rounds listed, 1st on April 2018 for $52.5 million and the 2nd April 2020 for funding debt, but no figures disclosed. 

- 2019 processed over $300 million for 170K users.

- 2020 #Nexo launch a new website

- 2020 800k user of Nexo

- 2020 process over $3 Billion in 40+ fiat currencies from it 800K users.

- 2020 added USDC as a borrowing option for our tax-efficient Instant Crypto Credit Lines

- 2021 NEXO Token had a 440% growth, marking a new all-time high of $0.76

Nexo products

How much can I earn?

Nexo only offers flexible term saving products. An additional 2% can be earned if you are willing to receive your interest earnings in NEXO token.

The following table shows rates you can earn for flexible term deposits:

Deposit assetsReward assetsAPY Rate
Deposit Axie Infinity

Axie Infinity (AXS)

Earn Nexo

Nexo (NEXO)

36.0%

Flexible

Deposit Axie Infinity

Axie Infinity (AXS)

Earn Axie Infinity

Axie Infinity (AXS)

34.0%

Flexible

Deposit TerraUSD

TerraUSD (UST)

Earn Nexo

Nexo (NEXO)

17.0%

Flexible

Deposit Polygon

Polygon (MATIC)

Earn Nexo

Nexo (NEXO)

16.0%

Flexible

Deposit Polkadot

Polkadot (DOT)

Earn Nexo

Nexo (NEXO)

15.0%

Flexible

Deposit TerraUSD

TerraUSD (UST)

Earn TerraUSD

TerraUSD (UST)

15.0%

Flexible

Deposit Polygon

Polygon (MATIC)

Earn Polygon

Polygon (MATIC)

14.0%

Flexible

Deposit Polkadot

Polkadot (DOT)

Earn Polkadot

Polkadot (DOT)

13.0%

Flexible

Deposit HUSD

HUSD (HUSD)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit Ninja Doge

Ninja Doge ()

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit Tether

Tether (USDT)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit USD Coin

USD Coin (USDC)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit USDP Stablecoin

USDP Stablecoin (USDP)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit TrueUSD

TrueUSD (TUSD)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit Dai

Dai (DAI)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit USDX

USDX (USDX)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit eToro Euro

eToro Euro (EURX)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit eToro Pound Sterling

eToro Pound Sterling (GBPX)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit Nexo

Nexo (NEXO)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Deposit Avalanche

Avalanche (AVAX)

Earn Nexo

Nexo (NEXO)

12.0%

Flexible

Can I borrow from Nexo?

Nexo allows you to borrow in cash or #Stablecoins without a credit check through “Credit Line” these rates (at the time of writing) starts at 5.9%, and you don't have to sell your crypto as your crypto is held as security and you can borrow from $50 to $2 million.

If you are a Gold or Platinum client, you can get 0% loans with the flexibility to swap between premium and standard rates. 

To become a Sliver, Gold or Platinum client you have to hold a certain percentage of Nexo Tokens.

How do I use Nexo?

There are three ways that the Nexo services can be used:

- Android application

- Apple iOS application

- Web site

Nexo products

Are my assets safe with Nexo?

Nexo's security infrastructure is ISO/IEC 27001:2013 certified.

Its security includes Biometric-Based Identity Verification, Extensive Firewall Server Architecture, Segregated Multi-Signature Cold Wallets, and much more. Nexo also stores user funds in bank-grade Class III vaults through Ledger Vault.  Further to this with 2FA authentication, biometric identification, withdrawal confirmations, login alerts, and round the clock support, Nexo ensures that you remain in control over your account.

How is customer support provided?

Customer support is provided as follows:

- Online live support messages sent through the web site -

 https://support.nexo.io/hc/en-us

Are there any referral or affiliate programs?

Get $100 in BTC, when you top up $1,500 or more. Grab an extra $50 if you exchange at least $1,500.

Nexo FAQs

Registered address is London, Great Britain.

Nexo total funding to date $52.5 million

Your yield is automatically paid to your Nexo account, interest is paid the following day.

It is paid in the currency invested.

Bulgaria, The Central African Republic, Cuba, Estonia, Iran, The US state of New York, The US state of Vermont, North Korea, Syria


Mike

Mike

An editor at Coincrop
View articles

Mike is a Crop Crop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely putting his latest car project back together.


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