Nexo is a crypto lending platform that allows lenders to earn interest on cryptocurrencies like Bitcoin, Ethereum, and Solana while borrowers can take out fiat by using crypto as collateral.
This page will tell you everything you need to know, how to buy Nexo, and how you can earn interest on it.
The easiest way to buy Nexo is to purchase it online from a crypto exchange. Exchanges make it easy to buy and sell Nexo and other cryptocurrencies directly from your smartphone, tablet or computer. Check out our recommended platforms below and follow the steps to safely buy Nexo.
You will have to set up an account with a broker or exchange to start buying Nexo. As security and ease of use will likely be important to you, we suggest you choose from one of the reputed platforms we have picked out for you below.
Accepts 70+ cryptocurrencies
Majority of cryptocurrencies are held in a secure Cold Storage
Buy cryptocurrencies instantly with your credit card
CoinGate is a Lithuanian-based fintech company founded in 2014. The payment gateway offers cryptocurrency payment processing services for businesses of any sizes. Permission-based account management, fiat payouts to the bank account and brand new email billing feature are just a few reasons why CoinGate has become a go-to payment processor for many.
Nexo is the world's largest and most trusted lending institution in the digital finance industry
Available in 200+ jurisdictions
Earn daily interest on your crypto
Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team's years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.
All swaps are custody-free, with no registration needed
Convert 500+ crypto assets instantly
Best exchange rates among the whole cryptocurrency market
Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.
Once you have logged in with your chosen broker or exchange, you will probably have to provide some form of documentation such as a driving license or passport so you can authorise your identity. Completing this step will let you deposit money onto your account using methods such as PayPal, Visa, or Mastercard.
If the money deposited in your account is in British Pounds, you’ll have to choose the NEXO/GBP trading pair to buy your first Nexo coins. You can make this purchase at any time of the day because the crypto market is open 24/7.
Nexo is a platform that gives you the opportunity to earn interest on your crypto by lending out coins like Bitcoin and Ethereum for certain amounts of time. Meanwhile, borrowers can take out low-interest cash loans from Nexo by putting up their crypto holdings as collateral.
Nexo operates as any regular bank would, but the only difference is that it primarily deals in cryptocurrency. Unlike some of Nexo’s competitors, like BockFi, loaners can withdraw and reinstate their deposits however many times they would like without carrying any additional costs. This makes it one of the most user-friendly crypto-lending platforms around.
Lenders also receive higher interest rates if they hold the platform’s native token: NEXO. Likewise, borrowers see discounts on the interest rates they must pay back if they choose to pay in NEXO. Users additionally have the option to both lend and borrow crypto at the same time should they wish to.
Investors can either choose to invest in NEXO for short periods of time in search of quick profits or longer durations depending on the financial targets they set themselves.
Buying and holding onto NEXO tokens is the most common strategy among investors that seek to see their portfolios gradually accumulate over the long term. This is an easy method of producing profit that requires little effort and application.
You can take sole responsibility for your NEXO tokens by storing them on software wallets or proven hard wallets like Trezor, BitBox, and Ledger. This is opposed to leaving your crypto in web wallets on exchanges that take custody of your crypto for you but may be vulnerable to malware attacks.
Additionally, NEXO-holders can also make use of the savings facilities offered by the Nexo platform. This includes the Nexo debit card that can be used to store crypto as well as make purchases with it.
Some investors like to capitalise on the volatility of the price of NEXO by trading it on the open market. But predicting swings in the price of NEXO can be a tedious strategy and even sees the pockets of the most successful traders short of change.
Traders find it easier to use web wallets to store their NEXO instead of hardware and software wallets. This is because making the right trades has to be a seamless process that can be undermined by having to periodically transfer tokens back and forth between a private wallet and an exchange wallet.
Buying Nexo now can be a profitable financial decision but does not come out without potential which you should keep in mind. It is important to always do your own research before making an investment. With this in mind, here are some aspects we have identified that may help you decide whether to buy Nexo or not.
Since launching in 2018, Nexo has emerged to become one of the world’s most successful crypto-lending platforms. Its meteoric growth continues to bring in more users, more assets under management, and more attractive interest rates every day. This is evident from the coming launch of the Nexo debit card which may also boost demand for – and the value of – NEXO tokens.
Nexo has also looked to cement its position above its rivals by exploring routes to escape unwanted scrutiny by financial conduct authorities in the US. This was made possible by Nexo’s acquisition of Texture Capital, a Securities and Exchange Commission (SEC) - licensed broker, which would in theory give them some protection if a crackdown were to arise on the crypto industry in the US.
Nexo also recently announced that it will be reducing the supply of NEXO in circulation by periodically buying up to $100 million worth of the coin in the coming times. It is possible that this could cause a supply crunch in the market and register a rise in the price of NEXO because of the growing demand for it.