Nexo Review 2025 – Is Nexo the Best Crypto Lending & Borrowing Platform?

Eric Huffman

Verified by Ilija Rankovic

Last updated

November 21, 2025 02:01 EST

16min read

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Nexo is a leading centralized finance (CeFi) platform that enables users to grow and manage their digital asset holdings. Its main services include crypto borrowing and lending at highly competitive rates, all delivered through a user-friendly interface with top-tier custodial security.

Once considered on the same level as CeFi giants BlockFi and Celsius, Nexo has adapted to changing market conditions and is now one of the foremost digital asset borrowing and lending apps in 2025. In this Nexo review, we’ll explore everything you need to know about the platform, including its core offerings, safety features, interest rates, token utility, and more.

Key Takeaways from Our Nexo Review

Here are the key takeaways from our Nexo review.

What Is Nexo?

Launched in 2018, Nexo was the first CeFi platform to offer fast crypto-backed loans. Its core innovation enabled users to borrow cash or stablecoins against crypto holdings, giving clients access to liquidity without selling their cryptocurrencies.

Today, the platform has evolved into a comprehensive crypto wallet ecosystem, featuring interest-earning products, a built-in token exchange, and advanced trading capabilities. Recently, Nexo won Best Crypto Wallet in the globally recognized 2025 FinTech Breakthrough Awards.

From a custodial vs. non-custodial wallet perspective, Nexo emphasizes ease of use and convenience over user-controlled crypto asset ownership. As a custodial wallet, Nexo is quicker, more beginner-friendly, and provides better support compared to self-custody options. However, users do not have access to their private keys and are required to complete KYC verification to use the platform.

Nexo currently has over $11 billion in assets under management and continues to empower its clients to achieve their long-term wealth goals.

Supported Markets and Assets

Users can access over 100 different digital assets on the Nexo platform, which they can buy and sell through the built-in exchange. In addition to supporting established coins like Bitcoin (BTC) and Ethereum (ETH), Nexo also allows users to manage some of the top trending cryptos like Solana (SOL), Toncoin (TON), and Pump.fun (PUMP).

For users interested in earning yield through the Nexo lending feature, popular supported cryptocurrencies include the following:

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether (USDT)
• USDC (USDC)
• BNB (BNB)
• Solana (SOL)
• XRP (XRP)
• Cardano (ADA)

Notably, Nexo users can top up their accounts and hold fiat currencies, including USD, EUR, and GBP. On the platform, Nexo represents them as FiatX (USDx, EURx, GBPx), which can be swapped for cryptocurrencies or withdrawn back to bank accounts as regular fiat currency.

Nexo’s crypto futures interface, available exclusively on the web platform, offers over 100 crypto perpetuals with up to 100x leverage.

Nexo Features and Tools

For this section of our Nexo review, let’s take a closer look at the platform’s main features and crypto tools.

Crypto Borrowing & Credit Lines

Nexo clients can take out crypto-backed loans in cash and stablecoins (USDT/USDC) without needing to provide any credit history. The platform assigns users’ digital assets as collateral in their credit wallets, and each loan is overcollateralized, meaning the collateral’s value must always exceed the loan amount.

Users must pay Nexo borrowing rates, which have a standard range of 10.9% to 18.9% APR (annual percentage rate), depending on the user’s loyalty tier. Additionally, Nexo offers low-cost credit lines for loans with LTV (Loan-to-Value) ratios of 20% or less, offering an annual interest rate of up to 2.9% for Platinum and 5.9% for Gold loyalty members.

Here’s a table that compares Nexo interest rates with other crypto borrowing platforms.

Earning Interest on Crypto

Nexo launched its interest-earning crypto product, Nexo Earn, in 2020, and the platform continues to offer some of the most competitive rates today. To start earning, users must reach a minimum portfolio value of $5,000 to earn on flexible or fixed terms. With Nexo Earn, crypto assets that meet the minimum threshold amount for earning interest are automatically placed under flexible terms.

Upon depositing funds to earn crypto passive income, it takes approximately 1-2 days for the first payout to be made. Afterwards, interest is typically accrued daily.

Users who open flexible interest-earning accounts can earn up to 14% annual interest on their digital assets with no lock-up periods, allowing them to withdraw at any time. In contrast, those with fixed-term accounts can earn up to 16% annually, but they require lock-in periods of one to several months.

Popular supported tokens for the Nexo lending service include the following:

• USDT: Up to 16% fixed term, 13% flexible term
• BTC: Up to 7% fixed term, 6% flexible term

• ETH: Up to 8% fixed term, 7% flexible term
• XRP: Up to 12% fixed term, 7% flexible term
• BNB: Up to 8% fixed term, 7% flexible term

Nexo Card

The Nexo Card is the platform’s dual-mode payment card, featuring Credit Mode (borrow against crypto holdings) and Debit Mode (spend crypto directly from your wallet). It’s connected with the MasterCard global payments network, which has access to over 100 million merchants globally. It also supports spending via Apple Pay and Google Pay.

By making payments with the Nexo Card, users can get up to 2% crypto cashback on purchases when using Credit Mode. Cardholders also enjoy free ATM withdrawals of up to 2,000 EUR or 1,800 GBP per month and can withdraw up to 10,000 EUR or 9,000 GBP monthly.

Nexo clients can use a virtual version of the card, which can be activated for users who have a portfolio balance of at least $50. Users with at least $5,000 worth of cryptocurrencies on Nexo, who are at least Gold-tier in the loyalty program, can order the physical version of the Nexo Card for free.

Read our full review on Nexo Card.

Nexo Exchange

Another convenient feature that Nexo users have access to is instant cryptocurrency swaps, which are powered by an integrated crypto exchange. Based on our Nexo exchange review, the platform enables users to exchange over 100 digital assets through more than 1,500 crypto pairs.

Top supported token pairs include:

• ETH/USDT
• BTC/USDT
• XRP/USDT
• SOL/USDT
• BTC/ETH
• DOGE/USDT

Furthermore, Nexo has launched a new futures exchange featuring 100 perpetual contracts. Traders have access to up to 100x leverage, which is comparable to some of the best crypto futures trading platforms.

Nexo App

With cross-platform compatibility, Nexo is accessible via desktop (web platform) or mobile (Android or iOS). Users can download the Nexo app on the App Store or Google Play and get beginner-friendly mobile access to the platform’s interest-earning products, credit line, fast token swaps, and more.

The Nexo app review on Google Play indicates that the platform has a user rating of 4 out of 5 stars, with over 5 million downloads. Other features, such as the futures exchange, fiat off/off-ramping, services, and 24/7 live customer chat, are all available on the mobile app.

Additional Tools (Nexo Booster, Dual Investment, Affiliate Program)

Beyond basic crypto lending and borrowing, Nexo offers additional digital asset features that provide users with alternative earning opportunities. For one, Nexo Booster is Nexo’s leverage tool, enabling investors to increase their exposure to specific tokens without additional capital. It works similarly to margin loans, and amplifies crypto positions by 1.5x to 3x their value.

Dual Investment is another crypto product by Nexo that allows investors to buy or sell crypto assets at a target price on a future date, while still earning high daily yields. This tool is powerful for investors seeking to profit from both sideways and trending market movements, and is tailored for more experienced traders.

Lastly, Nexo’s referral program rewards users who successfully invite new investors to the platform. Both the referrer and referee split a BTC reward equivalent to 0.5% of the referee’s average 30-day balance after meeting specific requirements. The affiliate program helps expand Nexo’s user base while incentivizing those who share the platform.

Nexo Token (NEXO)

The Nexo Token (NEXO) serves as the platform’s utility token and plays a crucial role within the Nexo ecosystem. In addition to being an Ethereum-based store of value, NEXO entitles token holders to more competitive borrowing and lending rates.

Users can choose to earn NEXO tokens for higher annual rewards and receive crypto cashbacks in NEXO on eligible swaps and purchases.

After conducting a technical Nexo crypto review, we found that the ERC-20 token has a fixed total supply of 1 billion tokens. Based on Etherscan, NEXO has over 67,000 holders. Additionally, the smart contract is publicly verifiable on crypto data aggregators like CoinGecko.

NEXO is essential for the platform’s loyalty program, which is based on the ratio between a user’s NEXO holdings and other assets. Here’s a brief breakdown of each loyalty tier:

• Base: Up to 1% of the portfolio in NEXO
• Silver: 1-5% of the portfolio in NEXO
• Gold: 5-10% of the portfolio in NEXO
• Platinum: Above 10% of the portfolio in NEXO

Is Nexo Safe & Legit?

Since Nexo is a custodial crypto platform, it’s essential to ask: Is Nexo safe for storing tokens? Based on our evaluation, Nexo is one of the safest custodial crypto wallets due to its global presence, impeccable security history, and regulatory compliance.

The CeFi platform holds multiple licenses and registrations across major jurisdictions, allowing Nexo to serve over 150 countries. Examples of regulatory institutions that Nexo adheres to include the Department of Financial Protection & Innovation, Australian Securities & Investments Commission (ASIC), and the Financial Services Authority of Seychelles (FSAS).

Regarding custody and insurance of digital assets, Nexo is partnered with Ledger Vault and Fireblocks for industry-leading custodial security. Both firms safeguard cryptocurrencies against theft and security breaches through the use of cold storage.

Nexo has outlasted previous top-tier CeFi platforms that collapsed during the 2022 FTX fallout, where Celsius and BlockFi filed for bankruptcy due to risky operations and malpractice. Unlike them, Nexo ensured that users’ assets remained protected under industry-leading custodians with insurance coverage. We have yet to find a report on a major security breach involving the Nexo ecosystem.

Nexo Fees

In this section of our Nexo review, we break down the platform fees that users should be aware of, including borrowing, lending, trading, and Nexo withdrawal fees.

Nexo App User Experience

Whether you want to earn, borrow, or exchange cryptocurrencies, the Nexo app serves as the primary hub for managing your digital assets. We found the main dashboard to be presentable and efficient, offering a real-time portfolio snapshot, the current credit line, and total interest earned.

The mobile app aligns with Nexo’s minimalist and modern design, which is also seen on the desktop web platform. From the main page, users can access essential features in just a few taps, creating a seamless token management experience.

The entire interface is perfect for beginners, with buying, selling, borrowing, and lending cryptocurrencies all straightforward processes on the Nexo app. Even when performing multi-step actions, such as purchasing cryptocurrency with fiat, the app guides users easily from start to finish without requiring them to leave the app.

Regarding performance, Nexo is capable of high-speed connections, especially since users can engage in crypto futures trading straight from the app. Clients also receive live crypto and market updates through in-app notifications, which also facilitate loan repayments, interest rewards, and withdrawals.

For experienced crypto users, the Nexo mobile app offers advanced tools, including stop-loss and take-profit levels, margin loans through Nexo Booster, and the Dual Investment service, which supports BTC, ETH, XRP, and SOL.

Although the Nexo app does not provide an exchange-centric experience like Binance or Bybit, the platform’s focus on premier wealth-building and long-term investing makes it stand out among other CeFi apps.

How to Get Started with Nexo

Follow this walkthrough to learn how to set up an account on Nexo and start using the platform’s various services.

Step 1. Create an Account

Visit the Nexo website and click the “Sign Up” button. Create a personal account by entering your email address. Complete the email authentication by entering the code sent to your registered email.

Enter a secure password with at least eight characters, an upper or lower case letter, and a number or symbol. Accept the platform’s Terms of Service and Privacy Policy, then click “Create account.”

Step 2. Verify KYC

Once logged in, finalize the account setup process by verifying your identity. From the dashboard, click “add personal information” and fill out the necessary fields. Afterwards, go to ‘Verify identity’ to perform the KYC verification.

During the identity verification powered by Sumsub, Nexo will require you to upload a valid ID or document, such as a driver’s license, national ID, or passport. Upload a clear photo or file of the selected document, and finish the verification prompts.

Step 3. Deposit Crypto or Fiat

With your account fully verified, the next step is to deposit either cryptocurrency or fiat currency. On the dashboard, click “Buy crypto” and choose a crypto purchase method. For this walkthrough, we’ll select “card purchase” for easy fiat on-ramping.

Select a cryptocurrency to deposit and link a new credit or debit card. Enter your card details and click “Link Card” after filling out the entire form. Input the amount you wish to convert to crypto, and complete the payment.

Step 4. Start Borrowing or Earning

With your Nexo wallet funded, you’ll automatically be earning flexible earnings from eligible digital assets as long as they’re stored in your account. To open a fixed-term earnings scheme, search for the cryptocurrency you want to earn interest from.

Click “Fixed-term Savings” to open the savings dashboard. Create a term by selecting a fixed-term period and the amount you wish to lock up for the duration. You can toggle automatic renew if you want to refresh the term upon completion. Click “Create term” to set the term and start earning increased payouts.

The Verdict

Nexo is a reliable CeFi platform for crypto storage, lending, borrowing, and investing. Since its launch in 2018, Nexo has expanded its services to include a dual-mode card, a built-in exchange, and high-leverage trading.

While centralized crypto storage enables Nexo to provide a seamless token management service and dedicated customer support, users’ tokens remain under the platform’s custody and are prone to centralized risks.

Still, its core offering is a premier wealth-building app with competitive borrowing and lending rates. Nexo has stood the test of time and continues to be supported by industry-leading crypto security firms with high-grade custodial crypto storage. Sign up on Nexo today and earn up to 16% annual rewards on your digital assets.

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Eric Huffman

Eric Huffman's background includes a decade plus in business management as well as personal finance industry experience in insurance and lending. A strong understanding of consumer finance combined with a consumer advocate stance brought Eric to the crypto industry, where he writes articles and guides aimed at making crypto easier to understand.

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