Nexo has long been one of the biggest names in crypto lending, positioning itself as a “digital wealth platform” for millions of users worldwide.
Founded in 2018, it quickly rose to prominence by offering high-yield savings accounts on crypto and stablecoins, instant credit lines backed by crypto collateral, and a Mastercard-powered debit/credit card.
In 2025, Nexo is still standing where many of its competitors fell.
With over 7 million users, $11 billion+ in assets under management, and more than $1 billion paid in interest since launch, it remains one of the largest centralized finance (CeFi) platforms.
After settling regulatory issues in the United States and paying a $45 million fine in 2023, Nexo made a comeback in April 2025, relaunching its Earn and Borrow services for U.S. customers.
The big question for users today is: Does Nexo still deliver the best balance of yield, security, and usability in 2025, and is it worth the risks of using a centralized platform?
What is Nexo?
Nexo is a crypto lending and savings platform founded in 2018 by the team behind Credissimo, a European fintech group.
The company started with a simple proposition: let crypto holders borrow cash without selling their assets and earn passive income on idle holdings.
Over the years, it has evolved into an all-in-one platform for wealth management that offers:
- Crypto-backed loans with instant approval and no credit checks.
- Interest-earning accounts with flexible and fixed terms, paying up to 16% APY on stablecoins and ~6–7% on BTC and ETH.
- The Nexo Card, which allows users to spend their crypto while earning cashback.
- An in-app crypto exchange with 1,500+ trading pairs, smart routing for best prices, and up to 0.5% cashback on swaps.
- Advanced tools such as Nexo Booster (crypto leverage up to 3×) and Futures trading (up to 100×).
Nexo markets itself as a regulated, globally accessible platform that holds licenses in more than 150 jurisdictions.
Controversies and regulatory battles have followed Nexo, including a 2023 Bulgarian raid that was later dropped without charges.
The platform’s resilience through the turbulent 2022–2023 period has solidified its reputation as one of the most durable CeFi players still operating today.
Nexo’s Core Features
Crypto-backed Loans
One of Nexo’s flagship offerings is its instant crypto-backed credit lines.
Unlike traditional loans, there are no credit checks or lengthy approval processes; users simply deposit crypto as collateral and can immediately borrow fiat or stablecoins.
- Loan-to-Value (LTV): Up to ~50% for BTC, with variations for other assets (ETH, stablecoins, altcoins).
- APR Range: As low as 2.9% for Platinum loyalty members and up to 18.9% for Base-tier borrowers.
- Early Repayment Rule: Loans repaid in under 45 days are charged the maximum 18.9% APR — a safeguard to prevent abuse of low-interest terms.
- No fixed repayment schedule: users can repay whenever they choose, provided collateral value remains sufficient.
💡More recently, this makes Nexo’s borrowing product one of the most flexible in the CeFi market, appealing to long-term holders who need liquidity without selling their crypto.
Interest-Earning Accounts
Nexo’s Earn product allows users to generate passive income on crypto, stablecoins, and fiat currencies. Interest is accrued daily and paid out either in kind or in NEXO tokens (which boosts APY by up to +2%).
Here’s what rates look like right now:
Highlights:
- BTC/ETH: ~6% flexible → up to ~8% fixed, ~9–10% with NEXO Rewards.
- Stablecoins: ~12% flexible → up to 16% fixed with NEXO Rewards.
- Altcoins: ~4–9%, depending on the asset and term.
Pros and Cons
Like any platform, Nexo has clear advantages and drawbacks. The combination of high yields, flexible loans, and a polished user experience makes Nexo stand out in 2025.
However, users should also weigh the downsides, especially the reliance on NEXO tokens for the best rates and the lack of full proof-of-reserves transparency.
Nexo Card
The Nexo Card, powered by Mastercard, lets users spend crypto without selling it. It can operate in two modes:
- Credit Mode: Uses your crypto balance as collateral, allowing you to borrow while spending.
- Debit Mode: Directly spends from your balance.
Key perks
- Up to 2% cashback in crypto.
- No annual fee.
- Free ATM withdrawals up to ~€200/month, then a 2% fee.
- FX fees are up to 2%, depending on the tier.
- The card supports integration with both Apple Pay and Google Pay.
- Platinum tier is required for physical card issuance.
This makes the Nexo Card one of the few cryptocards with dual-mode flexibility, appealing both to everyday spenders and those looking to maximize rewards.
Nexo Exchange
The built-in Nexo Exchange provides access to over 1,500 trading pairs with the SmartSmart Routing System, ensuring users get the best prices from multiple liquidity providers.
Extra features include:
- Cashback on swaps (up to 0.5% depending on loyalty tier).
- Nexo Booster → allows leveraged exposure (1.5×–3×).
- Futures Trading → new in 2024, offering perpetual contracts with up to 100× leverage for advanced traders.
For many users, this makes Nexo not just a savings or lending platform, but a complete crypto hub with trading and yield opportunities integrated into a single app.
NEXO Token & Loyalty Program
The NEXO token sits at the core of the platform’s loyalty program, which directly impacts how much interest you earn and how much interest you pay on loans.
Holding NEXO tokens in your account places you into one of four loyalty tiers—Base, Silver, Gold, or Platinum.
The higher your tier, the better the perks:
- Earn more: up to +2% APY when interest is paid in NEXO.
- Borrow for less: loan APRs can drop as low as 2.9% at the Platinum level.
- Enjoy perks: free monthly withdrawals, higher cashback on swaps, and exclusive card rewards.
👉 A minimum $5,000 balance is now required to unlock the higher tiers (Gold/Platinum), meaning casual users won’t see the full benefits without committing a substantial portfolio.
How the Nexo Loyalty Program Works
Getting Started: How to Use Nexo in 2025
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Both beginners and seasoned investors can easily start using Nexo due to its straightforward design.
Opening an account requires standard KYC verification, which is usually completed in just a few minutes.
Once verified, users can deposit crypto, stablecoins, or even fiat currencies via bank transfer or card.
From there, you can choose between three main actions:
- Earn → Deposit assets into an interest-earning account. Interest accrues daily and can be paid in kind or in NEXO tokens (for a +2% bonus). You also have the option to commit assets to fixed-term deposits (1 or 3 months) for higher rates. Since 2024, Nexo requires users to periodically opt in to confirm their desire to continue earning interest, which is a compliance measure introduced to meet regulatory standards.
- Borrow → Secure an instant loan by using your crypto as collateral. The platform automatically calculates your loan-to-value ratio and sets the available credit line. There are no fixed repayment schedules; you can repay anytime, provided collateral stays above the liquidation threshold.
- Spend or Trade → Use the Nexo Card for purchases or access the built-in Nexo Exchange to swap assets. The exchange uses Smart Routing to find the best price and even offers cashback on eligible trades.
In practice, this makes Nexo a one-stop crypto platform; you can earn, borrow, spend, and trade within a single account, without needing to move assets between multiple providers.
Interest Rates and Loan Terms
One of Nexo’s biggest draws has always been its competitive rates for both savers and borrowers.
Those numbers remain among the best in the CeFi industry, but they vary depending on your loyalty tier, whether you choose flexible or fixed terms, and if you opt to receive rewards in NEXO tokens.
- Earn: Flexible accounts pay daily interest that can be withdrawn anytime, while fixed-term deposits (1–3 months) offer higher rates. Opting for payouts in NEXO adds up to +2% APY on top of your base rate.
- Borrow: Credit lines are still among the lowest in the sector, starting at 2.9% APR for Platinum members, compared to up to 18.9% APR for Base-tier borrowers. Loan-to-Value (LTV) ratios vary by asset type, with BTC and ETH providing higher borrowing limits compared to more volatile altcoins.
- Repayment flexibility: There’s no fixed repayment schedule, but loans repaid in less than 45 days trigger the maximum APR (18.9%), a safeguard against gaming the system.
Here’s an overview of Nexo’s current rates:
Security and Insurance
Security remains one of Nexo’s strongest selling points.
Since its launch in 2018, the platform has not suffered a major breach or loss of client funds, a track record that sets it apart from failed competitors like Celsius and BlockFi.
Here’s how Nexo protects user crypto assets:
- Custody Partners & Insurance → Assets are primarily held in cold storage with trusted custodians such as BitGo and Ledger Vault. Together, they provide up to $375 million in insurance coverage against theft or hacking incidents. It’s important to note, however, that such coverage is not the same as FDIC insurance; if Nexo itself were to fail, funds would not be government-protected.
- User-side protections → All accounts support two-factor authentication (2FA), biometric logins on the app, and withdrawal whitelisting. Real-time notifications further reduce the risk of unauthorized access.
- Nexo previously partnered with auditors for real-time attestation of reserves, but like many CeFi platforms, it still does not provide a complete, independent audit. Critics point to the situation as a transparency gap, even though Nexo insists that its overcollateralization model ensures solvency.
- Regulatory compliance → Nexo holds licenses in over 150 jurisdictions and complies with AML/KYC standards globally. After paying a $45 million fine to U.S. regulators in 2023, Nexo successfully re-entered the market in April 2025, relaunching its Earn and Borrow products under a more favorable regulatory climate.
Bottom line: Nexo scores highly on technical security and risk management. Users' primary concern is not hacking; instead, it is the centralized trust model, since Nexo's solvency and transparency ultimately determine the safety of their assets.
User Experience
Nexo has consistently earned praise for its clean user interface and ease of use.
Even complex financial products, such as crypto-backed loans or fixed-term deposits, feel accessible to everyday users thanks to the design of the web platform and mobile app.
We design the web platform and mobile app to make even complex financial products, such as crypto-backed loans or fixed-term deposits, feel accessible to everyday users.
Highlights
- Fast onboarding → Account setup and KYC verification typically take just a few minutes, meaning you can start earning or borrowing almost immediately.
- Smooth navigation → The dashboard clearly separates your balances, interest accounts, and credit lines, making it simple to track how your crypto assets are working for you.
- Mobile-first experience → The Nexo app is highly rated on both iOS and Android. Recent updates introduced futures trading and AI-powered market insights, expanding its appeal beyond passive income to more active traders.
- 24/7 customer support → Users can reach support via live chat or ticketing. Reviews are generally positive, though some report occasional delays during peak traffic.
💡 Whether you’re depositing stablecoins to earn yield, spending with the Nexo Card, or managing a loan, the overall experience remains intuitive and polished, especially compared to competitors that offer fewer services in one place.
Regulatory Considerations
Nexo has always marketed itself as a compliance-first platform, operating under licenses in more than 150 jurisdictions.
All users must complete KYC (Know Your Customer) verification, and the company enforces AML (Anti-Money Laundering) standards across its services.
Still, regulation has been one of the greatest challenges in Nexo’s history:
- U.S. Exit and Comeback → In 2022, Nexo agreed to stop offering its Earn product to U.S. customers after several state regulators and the SEC alleged it was operating without proper registration. In 2023, the company paid a $45 million fine to settle the case. After nearly two years away, Nexo made a comeback in April 2025, relaunching its Earn and Borrow products for U.S. customers under a more favorable regulatory climate.
- Bulgarian Investigation → In early 2023, Nexo’s offices in Bulgaria were raided amid allegations of money laundering and sanction violations. No charges were ultimately filed, and Nexo is now pursuing legal action against the Bulgarian government for reputational damages.
- EU and UK Landscape → While Nexo continues to serve users in the EU and UK, certain products (like Earn accounts or fixed-term savings) have seen restrictions due to evolving regulations. Availability may differ depending on the country.
Bottom line: Nexo has survived intense regulatory scrutiny and continues to expand globally. The U.S. return is a major milestone, but users should remain aware that product availability and terms can still vary by region.
Fees and Charges
Nexo markets itself as a low-fee platform, and often, that’s true; there are no deposit or account maintenance fees, and loan origination is free.
However, like most CeFi providers, there are spreads on trades, withdrawal limits based on loyalty tier, and extra charges on card usage that users should be aware of.
Nexo Alternatives
While Nexo is a comprehensive crypto platform, it’s not the only option. Depending on your location and goals, you may find certain competitors better suited to your needs. Below are some strong alternatives available in 2025:
Best for: Flexible crypto-collateral loans
Nebeus
Nebeus combines lending, borrowing, and earning in one platform. Users can secure quick access to cash by using crypto as collateral, or grow their holdings with insured earning accounts. With multiple collateral options and the bonus of a crypto Mastercard, Nebeus bridges traditional finance with the crypto economy.
Key Highlights
Why It’s Worth Noting
- Borrow up to 80% LTV
- Insurance on crypto collateral
- Access to a crypto Mastercard
- Supports both fiat and crypto loans
Room for Improvement
- LTV is lower for stablecoins
- Earning products not as varied as competitors
Best for: Secure & transparent lending
Ledn
Ledn, headquartered in Canada, focuses on safe and transparent crypto lending. It offers savings accounts and Bitcoin-backed loans, and pioneered real-time Proof-of-Reserves verification. With support for BTC and USDC, the platform emphasizes clarity and straightforward terms without unnecessary complexity.
Key Highlights
Why It Stands Out
- Real-time Proof-of-Reserves checks
- Operates under Canadian regulations
- No platform tokens or forced lock-ups
Potential Drawbacks
- Supports only BTC and USDC
- Mobile app not yet available
Best for: Market-leading LTV ratios
YouHodler
YouHodler stands out with some of the industry’s highest loan-to-value ratios—reaching up to 90%. The platform provides both fiat and crypto-backed loans, savings products, and innovative tools such as Multi HODL and Turbocharge. With extensive asset support and fast liquidity, it’s a strong choice for hands-on crypto users.
Key Highlights
Why It’s Popular
- LTV ratios up to 90%
- Loans available in fiat or crypto
- Supports a wide range of assets
- Innovative tools like Multi HODL
Where It Falls Short
- Stablecoins capped at lower LTV
- Earning products not as broad as rivals
Best for: Professional-grade lending
Syrup (by Maple)
Syrup, powered by Maple Finance, provides institutional-level yield opportunities through carefully curated lending pools. Investors earn by supplying liquidity to vetted, blue-chip borrowers, with full transparency on pool performance. The rebrand under Maple streamlined their Crypto ecosystem and highlighted their focus on professional lending solutions.
Key Takeaways
Why It’s Different
- Exclusively serves institutional borrowers
- Transparent data at the pool level
- Designed to avoid retail overexposure
Where It Lacks
- Not suitable for beginners
- Access may require higher minimums
Best for: Everyday crypto use
Wirex
Wirex blends crypto lending with practical spending features, offering credit lines, earning opportunities, and its well-known crypto debit card. Users can earn up to 16% on supported assets while enjoying the ability to pay directly from their balance with no exchange fees — making it a versatile option for daily crypto activity.
Main Benefits
Why People Choose It
- Quick access to crypto credit lines
- Up to 16% APY on tokens & stablecoins
- No conversion fees when spending
- Crypto card built into the platform
Where It Falls Short
- Fee structure can be complicated
- Rewards tied to WXT token membership
How Nexo Compares to Others
Who is Nexo Best For?
Nexo’s wide range of services means it appeals to several types of crypto users.
Here’s who benefits the most from using the platform:
- Long-term holders (HODLers): If you hold BTC, ETH, or stablecoins and don’t plan to sell anytime soon, Nexo’s earn accounts let you generate passive income while keeping your assets intact.
- Users needing liquidity without selling crypto: With instant crypto-backed loans, you can access cash while avoiding taxable events or giving up potential long-term gains.
- Crypto spenders: The Nexo Card makes it easy to spend crypto in everyday life while earning up to 2% cashback.
- NEXO token holders: Those willing to allocate at least 5–10% of their portfolio to NEXO (and meet the $5,000 minimum balance requirement) unlock the platform’s best rates and perks.
- U.S. customers: With Nexo’s return to the U.S. market, Americans once again have access to its Earn and Borrow services, making it a competitive option compared to Coinbase or Crypto.com.
On the other hand, Nexo may not be ideal for:
- Beginners who find the loyalty system confusing.
- Users residing in regions with service restrictions (some EU/UK variations) may find Nexo unsuitable.
- Decentralization purists prefer self-custody or full transparency via DeFi platforms.
Future Developments
Nexo has consistently evolved its platform since launching in 2018, and 2025 is no exception.
The company has signaled several areas of expansion and improvement aimed at strengthening its position as a global digital wealth platform.
- Expanded Asset Support: Nexo continues to add new cryptocurrencies and stablecoins, giving users more options to earn, borrow, and trade.
- Enhanced Nexo Card Features: Expect further upgrades to the Nexo Card, including higher cashback tiers, wider country availability, and better integration with digital wallets like Apple Pay and Google Pay.
- AI-Powered Tools: The recently introduced AI insights inside the app are expected to become more advanced, offering portfolio optimization tips and market trend analysis to help users make better decisions.
- DeFi Integrations: Nexo has hinted at exploring DeFi protocol integrations, potentially blending centralized convenience with decentralized yields—a move that could appeal to users seeking higher returns.
- Institutional Expansion: Through services like Nexo Prime, the company is positioning itself as a partner for professional traders, funds, and institutions seeking liquidity and secure custody solutions.
- Regulatory Expansion: Having successfully re-entered the U.S. in April 2025, Nexo is pursuing additional licenses globally to ensure wider product availability and compliance in key markets, like the UK and Asia.
Ultimately, Nexo's roadmap prioritizes innovation and compliance, guaranteeing users not only additional features but also greater confidence in the platform's longevity.
Frequently Asked Questions
The Bottom Line
Nexo has proven its resilience in a sector where many competitors collapsed. With over 7 million users, strong security partnerships, and a newly re-established presence in the U.S., the platform continues to stand out as one of the most comprehensive CeFi solutions available. Its combination of high-yield savings, instant loans, and a versatile crypto card makes it attractive to long-term holders and everyday spenders alike.
That said, Nexo isn’t risk-free. The reliance on NEXO tokens for the best rates, the $5,000 minimum balance requirement, and the lack of a full proof-of-reserves audit remain important considerations. For those comfortable with a centralized model, however, Nexo will remain a compelling choice today and in the foreseeable future.
