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Nexo Crypto Review 2024: Features, Pros, Cons & More

Our Editorial Standards

You’re looking for a crypto loan platform with exchange capabilities, but the available choices are bewildering. What makes Nexo worth using?

Throughout this Nexo crypto review, we’ll examine the platform in detail, exploring its fees, accessibility, and performance. We’ll also discuss key features like crypto loans and the Nexo card.

Let’s get started.

Nexo crypto quick summary

  • Nexo platform allows users to buy, sell, trade, and spend cryptocurrency in everyday stores.
  • Unique feature: users can temporarily cash out crypto without triggering taxable events.
  • Provides personal IBAN accounts for streamlined international payments.
  • Not available in the UK and the US, limiting its accessibility.
  • Charges high crypto trading fees and offers a limited selection of 58 cryptocurrencies.
  • While useful for spending crypto, Nexo’s absence in the US and UK makes it unusable for many crypto enthusiasts.

Fortunately, swissmoney is a more widely available alternative that offers many of the same core features that Nexo users enjoy. If you’re looking for a platform like Nexo, swissmoney is worth considering.

Table of Contents

What is Nexo crypto?

Nexo is an all-in-one crypto platform that lets users buy and sell cryptocurrency, earn interest on holdings, and borrow against their crypto assets.

The platform launched in 2017 and serves millions of users around the world. However, while available in most of the world, Nexo is not available in the US, and new sign-ups from UK residents are prohibited.

Nexo homepage

Nexo’s primary offering is its crypto-backed loan system, which enables users to use their crypto assets as collateral for a loan.

As the cryptocurrency isn’t technically sold, Nexo’s crypto loans don’t trigger a taxable event, which is ideal for people wanting to temporarily free up funds without selling their crypto.

Outside of crypto loans, users can use the Nexo exchange to convert funds easily, use savings plans to earn interest and apply for a Nexo card to spend crypto during everyday transactions.

While Nexo is regulated, the company doesn’t divulge which authorities bodies license it.

Quick Nexo crypto overview

Established 2017
Availability Global (UK and US not supported)
Best for Managing crypto and fiat, crypto credit card, crypto loans
Reputation Trustworthy, never been hacked 
Security 2FA, biometrics, SSL encryption, address-allow listing, regulated
Main features crypto loans, crypto debit cards, crypto exchange
Crypto card Yes, comes with debit and credit modes
Crypto wallet Exchange wallet + standalone wallet
Supported cryptocurrencies 58
Supported payment methods Crypto, bank transfer, credit/debit card
Rates & fees Moderate (roughly 1% spread, 0.2% Nexo Pro fee)
User experience  Intuitive navigation, easy to use
App  Yes, all features available
Website Yes, all features available
Customer support Live chat, help centre, chatbot

Looking for an alternative? Discover swissmoney

swissmoney homepage

Launched in 2021, swissmoney quickly gained popularity as a user-friendly and secure financial solution provider. Developed by experts in blockchain and cybersecurity, this Swiss platform enables transfers in crypto and traditional currencies.

Swissmoney offers various crypto wallets and a high-limit spending card, addressing challenges that traditional banks encounter with cryptocurrencies.

Here’s what you get with swissmoney:

  • No wire transfers; spend freely without limits.
  • Dedicated IBAN accounts.
  • Multiple cards without strict spending limits.
  • Hassle-free contactless payments via Google Pay or Apple Pay.
  • Effortlessly set, adjust, and manage everything using a user-friendly app.
  • Multiple wallets for BTC, ETH, USDC, USDT, and TRX.
An Easier Way: swissmoney App
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Fiat or crypto, Android or iOS we promise you the best Swiss quality experience.
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Quick Nexo crypto pros & cons

All crypto platforms have pros and cons that affect use. Ultimately, it’s up to a prospective user to weigh the pros and cons to decide if a platform is right for them.

After conducting extensive research for our Nexo crypto review, we found the following pros and cons:

Nexo Pros Nexo Cons
Crypto-backed loans FIATx currencies 
Personal IBAN account Some features not available in certain regions
In-built crypto exchange Holding NEXO required for the best rates
Nexo card
Up to 3x leverage available 
Regulated platform
Free crypto wallet

Nexo crypto benefits in detail

Nexo is a solid crypto services platform that provides much utility to users. Between its instant crypto credit lines, crypto exchange, interest-yielding products, and IBAN accounts, a Nexo account has many benefits.

1. Personal IBAN account

One of Nexo’s most significant advantages over other crypto services providers is the addition of personal IBAN accounts. European Economic Area (EEA) users can register for a free personal IBAN account to enjoy instant, low-cost SEPA transactions inside Europe.

2. Credit line

Most people register for a Nexo account to access the platform’s credit line and crypto loan service. Nexo accountholders can allocate some of their holdings as collateral to receive a crypto loan or use the Nexo card’s Credit Mode.

All loans must be repaid in addition to any accrued interest, the rate of which varies based on the asset and a user’s loyalty tier.

3. Earn interest

One of the most attractive benefits of a Nexo account is the ability to earn substantial interest on your crypto assets.

Users can earn rewards of up to 16% on 28 cryptocurrencies, five stablecoins, and three FIATx currencies, bringing the total number of interest-baring assets on Nexo to 36. However, yields differ based on loyalty tier, with a variation of up to 4%.

Nexo earn

Nexo benefits conclusion

The Nexo platform is packed with benefits and valuable features. The company has primarily focused on giving clients greater control over their funds and offering them the tools to get more from their money.

As such, Nexo is a strong choice for anyone looking for an all-in-one crypto platform that empowers its customers.

Nexo crypto limitations and drawbacks

Nexo is a well-designed crypto platform offering various features and benefits. However, despite boasting many helpful features, we found a few limitations customers should be aware of while performing testing for our Nexo review.

1. Trading fees

Trading on Nexo is considerably more expensive than on dedicated crypto exchanges like Bybit. Nexo charges a lofty 0.2% fee for maker/taker orders, which can be halved by paying with Nexo tokens.

Additionally, users wishing to boost their profits and losses using leverage are subject to Nexo’s booster fee, which ranges from 1% to 3% based on your Loan-To-Value (LTV) ratio.

2. Availability

One of the most notable disadvantages of Nexo is the platform’s limited availability. While Nexo states that it operates globally, new UK and US customers cannot register for an account. Moreover, specific features, like the Nexo card and earn products, are unavailable in some countries, reducing Nexo’s accessibility substantially.

3. Nexo tokens

Something to be aware of before deciding to use Nexo is that the loyalty program impacts many features and its tiers based on the percentage of your portfolio that NEXO tokens comprise.

Ranking up in the Nexo loyalty program is straightforward. However, users who don’t want to purchase NEXO tokens cannot rank up, meaning the best rates are unattainable.

Nexo token

Nexo limitations conclusion

Nexo is more than just a crypto lending platform. It offers various features like an exchange and one of the best crypto debit cards.

However, the platform limits itself by restricting availability in some regions and requiring NEXO tokens to attain the best rates. As such, while Nexo is a good platform, users who live in restricted countries or are unwilling to buy NEXO will be limited.

Nexo crypto wallet

Everyone with a Nexo account benefits from a free multi-asset crypto wallet to store their funds. Nexo’s crypto wallet is ingrained into the platform directly, making it easy and convenient for people to access.

Nexo crypto wallet

Nexo has also created a standalone non-custodial wallet people can use if they prefer having total control over the assets. However, this standalone wallet doesn’t connect to the Nexo platform. Therefore, users cannot earn interest or use crypto holdings in the standalone wallet as collateral.

How does the Nexo wallet work?

Any time a user deposits crypto to Nexo, the funds are stored in an exchange wallet, which Nexo controls, but customers can deposit or withdraw. These exchange wallets are not unique and limit user activities.

Conversely, the standalone Nexo Wallet platform is entirely non-custodial, meaning users own their keys and have total control over their holdings.

Users can import via a seed phrase or their MetaMask or Coinbase wallets. Alternatively, a user can create a new wallet and begin depositing crypto.

Nexo wallet features

Using Nexo’s exchange wallet, users can quickly convert assets, use the tokens as collateral for a loan, withdraw crypto, or earn interest on their holdings. However, the wallet cannot be connected to external Web3 applications.

On the other hand, the standalone Nexo wallet can connect to Web3 applications, but assets contained within cannot be used as collateral on the Nexo platform. However, users can deposit NFTs using the Nexo Wallet.

Additionally, the wallet has a feature called Identity, which, when set up, offers batch transactions, earning opportunities, and the ability to pay gas fees with non-native assets.

Security: Any crypto asset in the Nexo exchange wallet is kept secure in cold storage and protected by over-collateralization and Two-Factor Authentication (2FA). As the standalone Nexo Wallet is non-custodial, Nexo has no control over its security.

Supported cryptocurrencies: While the Nexo exchange wallet supports the 58 assets Nexo accepts, the standalone wallet can store any asset created on the Ethereum, Polygon, Avalanche C-Chain, BNB Chain, and Fantom Opera networks.

How to set up a standalone Nexo wallet

Anyone can set up a Nexo wallet within just a few minutes.

  • Step 1: Import a wallet or create a new seed phrase.
  • Step 2: Note down your seed phrase.
  • Step 3: Deposit ETH, BNB, FTM, MATIC, or AVAX.
  • Step 4: Set up Identity to get the most From the Nexo Wallet.
  • Step 5: Wallet setup is complete.

Nexo crypto exchange

Nexo offers an extremely basic crypto exchange designed for simplicity and ease of use. It is only suitable for beginners looking for an easy way to swap cryptocurrencies. Advanced users requiring various order types of charting tools must use another exchange like Bybit or Nexo Pro.

  • Features: The Nexo exchange has been tailored for beginners. It features an intuitive, no-frills interface with a simple swaps system. Users can pay using their Savings or Credit Line wallets, providing flexibility.
  • Fees: Variable spread fee of around 1% and variable borrowing interest rate for leveraged Boost transactions.
  • Leverage: Using the Boost function, customers can increase their profits and losses from 1.5x to 3x. However, Nexo charges an interest on any funds borrowed using leverage.
  • Supported assets: Users can trade any of Nexo’s 58 supported cryptocurrencies and three FIATx currencies.

Pros & Cons

Nexo crypto exchange pros Nexo crypto exchange cons
Easy to use High fees
Access to leverage Overly basic

Nexo Pro exchange

In addition to its simplistic exchange, which is integrated into the lending platform, Nexo has created a Pro exchange.

Nexo Pro boasts advanced features, multiple order types, margin capabilities, and an order book-based interface.

Nexo Pro exchange

  • Features: The most notable difference between the Pro and default exchanges is that Nexo Pro uses an order-book-based interface, meaning users can see the market depth and at which price liquidity lies. Users also get access to order types like TWAP, limit, and take profit, making it easier to enter and exit a position.
  • Fees: Nexo Pro users are charged 0.2% for trades, but you can pay half the costs using NEXO tokens. The platform also has a tier system that offers discounted fees for high-volume trades. At the top end, fees can be lowered to 0.07% (taker) and 0.040% (maker) for those with over $500 million in lifetime trading volume.
  • Leverage: Users on Nexo Pro can access up to 5x margin to increase their profits and losses.
  • Supported assets: Nexo Pro boasts a massive selection of 400+ trading pairs.

Pros & cons

Nexo crypto exchange pros Nexo crypto exchange cons
Order book-based interface Confusing fee structure
Multiple order types Limited leverage compared to dedicated exchanges
Increased number of trading pairs
Up to 5x leverage

Nexo crypto card

The Mastercard-issued Nexo crypto card enables people to spend their cryptocurrency in everyday stores.

The card allows people to spend their cryptocurrency directly and use their holdings as collateral for a loan, enabling a temporary cash out without triggering a taxable event.

While the card is popular, people in the UK, US, and certain other regions cannot access it.


The card’s most unique aspect is its Dual-Mode system, which allows people to use it as a debit or credit card. However, the card also offers free ATM withdrawals for premium users, an earning program with interest rates of up to 10%, and real-time spending notifications.

  • Fees: Credit Mode transactions incur a variable interest rate. The card also comes with a €1.99 ATM fee (outside of free withdrawals) and a 0.5% foreign transaction fee.
  • Nexo card requirements: Users must apply for the Nexo card, and once approved, they can start using the card. Customers can immediately begin using the Nexo virtual card, but those seeking a physical card must have a portfolio worth at least $500 and a gold loyalty tier.
  • Ways to use it: You can use the Nexo card to borrow against your crypto to cover spending without selling your assets. You can also use the Nexo card as a convenient way to use crypto for everyday transactions.

Pros & Cons

Nexo crypto exchange pros Nexo crypto exchange cons
Credit and debit modes High physical card requirements
Earn crypto rewards Variable interest rates
Free virtual card
Issued by Mastercard


Nexo offers a personal IBAN account for its European Union (EU) clients. The service allows users to send payments and withdraw funds to a bank account nearly instantly.

Moreover, it reduces the chance of a payment being blocked or delayed because the account is linked to the crypto space.

  • Features: A personal IBAN account with Nexo allows users to instantly send EUR transfers to any account that supports SEPA Instant. Additionally, the personal IBAN account has a low minimum top of just €10, making it a highly accessible service.
  • Fees: Nexo doesn’t charge a FIATx top-up or withdrawal fee for this personal EU IBAN account.
  • How to set up: To set up a Nexo IBAN account, initiate the EURx top-up process, accept the terms and conditions to receive your EUR IBAN details, deposit EUR, and you can begin sending and withdrawing with a dedicated EU IBAN account.
  • Ways to use it: Enjoy low fees and near-instant EUR deposits and withdrawals.
  • Benefits and limitations: A Nexo IBAN account is only available to specific European Economic Area (EEA) countries. However, people in supported regions benefit from lower costs and faster payments.

How Nexo features work

Nexo has many different features that work in unique ways. While offering a wide selection of features and tools increases Nexo’s utility, it can also make using the platform complex.

To ensure our readers can use Nexo easily, we’ve broken down how to complete some of the most common activities.

How to create an account

Creating an account with Nexo is simple. Head to the Nexo website, press ‘Get Started,’ and input/verify an email address and password.

While you can register for an account with just a few details, you’ll need to complete Know-Your-Customer (KYC) verification to gain access to Nexo’s features.

How to deposit funds

To deposit funds to Nexo, users must choose the desired asset, press ‘Transfer,’ select ‘Top Up,’ and decide whether to perform an on-chain transfer or buy crypto using a prepaid card, credit/debit card, or bank transfer.

Nexo doesn’t allow direct fiat top-ups, but users can acquire one of the platform’s FIATx currencies in the same manner as a crypto asset.

How to buy crypto

After you have deposited funds to Nexo, you can use the platform’s convert function to swap one asset for another. Nexo also supports purchases using a bank transfer or debit/credit card for users wanting to buy crypto with fiat currencies.

To complete a fiat purchase, link a card, press ‘Buy Crypto’ in the top corner, select an asset, choose a payment method, and complete the purchase.

How to trade crypto

Users wishing to trade crypto on Nexo have two choices: using the convert function to easily swap assets or utilizing Nexo Pro to trade on a complete order book-based exchange.

While using Convert lends itself to people preferring simplicity, Nexo Pro boasts TradingView charts and additional order types. Trading on Nexo Pro is the same as any exchange: select a pair, enter an amount, and trade.

How to sell crypto

To sell crypto on Nexo, users must search for an asset they hold in the Nexo exchange wallet, select ‘Trade,’ then press ‘Sell.’ Afterwards, enter the amount of crypto you want to sell, double-check you’re happy with the transaction, and complete the sale.

The platform only supports FAITx currencies, so Nexo will convert your assets to one of those until you withdraw.

How to withdraw money

Customers wishing to use Nexo as a crypto off-ramp can exchange their cryptocurrency holdings for a FIATx asset. Then select the desired currency, press ‘Transfer,’ select ‘Withdraw,’ choose a withdrawal method and confirm the transaction. Alternatively, Nexo customers can use the same method to withdraw on-chain cryptocurrency.

Nexo token

The Nexo token (NEXO) is the platform’s proprietary token and has a few essential benefits. Traders can pay fees in NEXO at half the standard rate. Users can also increase their loyalty tier rank by allocating a certain percentage of their portfolio to NEXO to attain lower borrowing rates and better yields.

Nexo loyalty program

Nexo offers a loyalty program to reward its supporters with reduced fees and increased limits. To advance through the loyalty program, users must attain NEXO tokens equal to between 1% and 10% of their portfolios. The program affects things like borrowing rates and earning yields.

Features Base Silver Gold Platinum
Portfolio NEXO token ratio Up to 1% 1% to 5% 5% to 10% Above 10% 
High LTV interest rate 15.9% 14.9% 10.9% 7.9%
Low LTV interest rate N/A N/A 2.9% 0%
Earn rate (Crypto) 4% 4.25% 4.5% 5%
Earn rate (Stablecoins) 8% 8.25% 9% 10%
Earn rate (Fiat) 5% 5.25% 6% 7%
Earn in NEXO bonus 0% 0.25% 1% 2%

Supported cryptocurrencies and payment methods on Nexo

Any platform that holds customer funds and facilitates crypto trading must provide access to various cryptocurrencies and payment methods.

Unlike others in the crypto industry, Nexo offers a reasonable selection of supported assets and payment methods but is overshadowed by dedicated exchanges like

  • Supported cryptocurrencies: Based on research for our Nexo crypto review, we found that the platform offers 58 cryptocurrencies, primarily large-cap assets like Bitcoin, Ethereum, and XRP.
  • Payment methods: Nexo offers users several ways to fund their accounts, including on-chain crypto deposits, wire transfers, and credit/debit card top-ups.
  • Deposit and withdrawal limits: Nexo has almost no deposit limits (although users could be asked to provide proof of funds for large transactions). However, users can withdraw $500,000 in crypto or $100,000 daily via bank transfer from their Savings Wallet. Users can also withdraw crypto worth up to $2 million daily from their Credit Line Wallet.

Nexo crypto fees and rates

If you plan on lending and borrowing or conducting crypto purchases on Nexo, then the platform’s fees are a critical consideration. If you’re unfamiliar with the various fees Nexo applies, you could find yourself charged unexpectedly or left without enough crypto for a purchase.

Fee type Fee rate
Exchange spread fee  0.5% to 2%
Nexo pro trading fees 0.2%
Credit mode/boost interest (high LTV) 7.9% to 15.9%
ATM withdrawal (outside of free withdrawals) €1.99
Foreign transactions 0.5%
Card issuance  N/A
Inactivity N/A

Nexo charges reasonable fees. The platform only levies a few fees for spending and using the exchange. No maintenance fees make Nexo far more attractive to casual users.

1. Nexo trading fees

On its Pro exchange, Nexo charges base users a reasonably competitive trading fee. Moreover, by paying with NEXO tokens, users can reduce trading costs to align with Bybit and Binance (0.1%). However, the 1% spread on the primary exchange can eat away at your money.

2. Nexo account fees

Unlike some platforms we’ve looked at, Nexo has relatively few account fees. There is no cost for maintaining an account, inactivity, or closing your account. As such, Nexo is a strong choice if you plan on transacting infrequently.

3. Nexo fees overall

Based on research for our Nexo review, the platform’s fees are reasonable compared to competitors. Users can trade for a relatively low cost (especially when paying using NEXO), and creating an account is free. However, the spread fee and interest rates can quickly add up if you transact on the default exchange or borrow significant sums frequently.

Nexo crypto withdrawal

Access to several withdrawal methods and high limits makes moving money out of a particular financial platform far easier. If a platform has limited withdrawal options, users could be left stuck if one goes down for maintenance or cannot be used for whatever reason. 

ATM withdrawal limit (single transaction) €600
ATM withdrawal limit (daily) €2000
ATM withdrawal limit (monthly) €10,000 
Free ATM withdrawals  0 (Base), 1 (Silver), 2 (Gold), 5 (Platinum)
Daily cryptocurrency withdrawal limit €500,000
Daily fiat withdrawal limit €100,000

It seems Nexo understands the importance of having a well-designed withdrawal system. The company boasts reasonably high limits and offers users several withdrawal methods. 

  • High limits: While Nexo could improve its ATM withdrawal limits, it boasts impressive limits for daily crypto and fiat withdrawals, making Nexo suitable for high-net-worth customers.
  • ATM withdrawals: Nexo allows users to withdraw up to €2,000 daily, making it ideal for people needing to convert crypto to cash quickly.

Nexo crypto security and licensing

Nexo facilitates the long-term storage of crypto assets, spending, saving, and accruing interest. As the platform takes custody of client assets, its security is critical.

Nexo account security

To help its users keep their accounts secure, Nexo has implemented Two-Factor Authentication (2FA), biometric identification, address-allow listing, and SLL encryption.

The platform has also created articles in its help centre explaining how users can best secure their accounts. The company also utilizes Ledger Vault as its cold storage solution for customer funds.

Is Nexo regulated?

Nexo is a licensed and regulated platform that is allowed to service customers in over 200 jurisdictions.

However, the company doesn’t divulge the authority bodies that regulate it. Since launching in 2017, Nexo has never been compromised by attackers, highlighting the platform’s commitment to security.

Nexo crypto: User experience

User experience is critical to any product, including crypto-lending platforms and exchanges. Designed for beginners and intermediate users, Nexo boasts a stellar user experience that makes using the platform a treat.

Nexo Website

The Nexo website boasts a sleek white interface and feels intuitive to navigate thanks to its displayed key features, like the exchange.

Assets can be easily found through the section of the market, and Nexo makes earning rates clear. However, Nexo uses the terms “Transfer” or “Top Up” in place of “Deposit,” which could confuse some users.

Nexo mobile app

The Nexo app is available on Android/iOS devices and has an average rating of around 4/5 based on thousands of Nexo reviews.

The app is well-designed and offers every feature available on the desktop site, plus the ability to receive card spending notifications directly on your phone. All critical features can be accessed via the bottom navigation bar, making it a breeze to find a specific feature.

The Nexo mobile app offers every feature on its desktop platform, including basic charting and exchange functionalities. It’s well-rounded and will appeal to just about every Nexo user.

Customer support

Nexo offers several methods of customer support. Users can browse articles and guides on the help centre or speak to a chatbot that can direct users to relevant information.

For users requiring tailored help, live chat is available. During testing for our Nexo crypto review, we received a response within seconds, which is extremely good compared to other crypto platforms.

Nexo crypto: Areas of improvement

While Nexo is a relatively well-rounded platform with balanced features, we found a few areas that need improvement after researching it for our Nexo crypto review.

FIATx tokens

Instead of offering access to fiat currencies, Nexo issues FIATx tokens, which are 1:1 representations of a fiat currency. While the two forms of currency act similarly, it seems odd for Nexo not to provide users with the fiat they deposit.

Switching to traditional fiat currencies would improve user confidence in the platform.

Loyalty program

The Nexo loyalty program is an exciting system that offers many rewards to users who choose to participate.

However, rather than basing the tiers on usage statistics or a flat fee, Nexo requires users to convert between 1% to 10% of their portfolios to NEXO tokens to attain a premium rank.

Unfortunately, this disincentives people from storing large amounts of crypto on Nexo.

Global availability

One of the least convenient aspects of Nexo is the platform’s lack of global availability. Users from specific countries like the UK cannot access critical features like the crypto card, significantly impacting the usability.

If Nexo could expand its services to restricted countries, it would become more universally available and accessible.

Nexo crypto: Is it worth it?

Nexo is a unique platform that blurs the lines between crypto and fiat currency thanks to its innovative Dual-Mode crypto card, multi-currency fiat accounts, and easy-to-convert system. Based on testing for our Nexo crypto review, we found the platform easy to use, reasonably priced, and well-equipped.

While Nexo is well-rounded, it misses the track somewhat regarding cryptocurrency and availability. Nexo supports less than 60 cryptocurrencies and charges a substantial spread fee on its basic exchange.

Although Nexo Pro offers a broader selection of pairs, leverage is limited to specific instruments and has a low maximum compared to other exchanges.

Ultimately, we found Nexo an excellent overall platform suitable for the average person looking for an easy way to swap and spend crypto. However, if you value the tools to trade cryptocurrency over a way to spend it and want to avoid buying NEXO tokens, another platform like Bybit or swissmoney could yield more benefits.

Our review methodology

To ensure our Nexo crypto review is as fair and factual as possible, we consider a multitude of factors, including significant aspects of the platform, like its crypto trading fees, variety of features, global accessibility, and range of cryptocurrencies.

However, we also consider user-specific elements, like whether the platform is suitable for experienced traders, is designed well enough for a novice, or supports on-chain deposits and withdrawals.

We also look at what real users say about the platform and consider their experiences during our testing process.


Is crypto on Nexo safe?

Since launching in 2017, a bad actor has not compromised Nexo. Moreover, all customer funds are secured with Ledger Vault, and Nexo is a licensed and registered platform. As such, Nexo is considered safe.

Is Nexo good for crypto?

Nexo is an all-in-one platform for managing cryptocurrency holdings and traditional currencies. It is reasonable for cryptocurrency.

The default exchange is suitable for beginners, and Nexo Pro caters to experienced users, but the lack of high leverage could cause some issues.

Can I buy crypto on Nexo?

Nexo lets you buy cryptocurrency directly using a credit/debit card, making the platform a convenient fiat on-ramp. However, users can also swap cryptos or buy a digital asset using one of their FIATx balances.

How do I sell crypto on Nexo?

Selling crypto on Nexo is easy. Find an asset with a balance, press the ‘Trade’ button, select the ‘Sell’ option, choose which asset to convert to, preview the exchange, and confirm the transaction. Your newly acquired asset will be stored in your Nexo wallet.

Can I send crypto to Nexo from another wallet?

In contrast to some platforms we’ve looked at, like Revolut, Nexo lets users withdraw any cryptocurrency stored on the platform. As such, Nexo is a solid pathway for people wishing to buy crypto and withdraw it to an external wallet.

What are FAITx currencies?

Instead of traditional fiat currencies, Nexo uses propriety FIATx tokens, a 1:1 representation of the traditional fiat currencies. Anytime you deposit fiat to Nexo, it’s automatically converted to the appropriate FIATx currency. When you withdraw from the platform, the assets are converted into standard fiat currencies.

Can I spend my crypto on Nexo?

Nexo offers several ways for users to spend their cryptocurrency. If you have a Nexo card, you can use crypto for everyday spending or allocate digital assets as collateral for a credit line. Alternatively, the platform lets people trade their crypto assets.

How do you withdraw money from Nexo?

To withdraw money from Nexo, you must find an asset with a balance. Then, you use the ‘Transfer’ button and input an address to set up an on-chain withdrawal. To withdraw fiat, the process is similar, except you input your banking details in place of a wallet address.

Are there any fees associated with using Nexo?

There are several fees to be aware of when using Nexo. The platform charges variable interest rates on any credit line, foreign transactions incur a 0.5% fee, Nexo charges a spread of around 1%, and the Nexo Pro exchange imposes a 0.2% trading fee.

How do you create a Nexo account?

Creating a Nexo account is simple. You have to provide and confirm an email address and password. Then, you provide some personal details and can verify your account by uploading a photo ID (passport, driving license) and a selfie.

How do I use the Nexo crypto platform?

To use Nexo, you have to create and verify an account. Then, you can deposit funds into the platform, and its features will be accessible. After funding your account, you can apply for a Nexo crypto card, attain a crypto-backed loan, or begin trading cryptocurrency.

Is Nexo trustworthy?

Nexo is trusted by millions of users in over 200 jurisdictions. The company has operated without issue for seven years and is regulated and licensed by several authoritative bodies. Users have had few complaints regarding Nexo, indicating that it’s a trustworthy platform.

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Jay Leonard


Jay is a cryptocurrency expert who has utilised his extensive experience in the industry to provide commentary on the latest news and developments in the crypto space for four years. As an active investor and trader, Jay has a finger on the pulse of the crypto space, enabling him to offer unique insight and break down complex topics in a simple manner.

While beginning his career as a writer, Jay studied at Open University, achieving a degree in Business Management (Marketing), which gave him knowledge of the inner workings of business and enabled a further level of depth in the content he produces.

Jay’s work has appeared in many high-profile publications, including CryptoNews, Business2Community, HedgeWithCrypto, EconomyWatch, and Finance Illustrated.

Open University – Business Management (Marketing) – Graduated with Upper Second-Class Houners (2:1)

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Please be advised that the information presented in this article is intended for general informational purposes only. It should not be construed as professional advice from swissmoney. It is important to note that swissmoney does not act as a financial adviser, and individuals are strongly encouraged to seek independent advice from qualified legal, financial, or accounting professionals before making any decisions related to cryptocurrency investments. Furthermore, investing in cryptocurrency assets carries inherent risks, and individuals should be aware that they may potentially lose all of their invested capital.

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