Does Nexo have a deposit fee?
Nexo does not charge fees for deposits. No fees for withdrawals, deposits, transfers, or transactions.
Are you in search of a Nexo interest rate review you can trust? We have curated everything you need to know about Nexo and its available resources. Well, Nexo could be the next big thing for you. Nexo is a blockchain system that offers to obtain loans like LTC loans in crypto. It means that you can get fiat currency whenever you need it and earn money from your idle crypto assets. In this article, we'll cover everything you need to know about Nexo, how this platform works, and everything about its interest rates. Some other platforms offer similar services. This brings about questions from users e.g is Blockfi legit, is Youhodler safe, and what are the best crypto loan platforms? 
About Nexo
Nexo is a lending platform founded in 2017 by Credissimo, a European fintech company. Credissimo funded Nexo through its popular Initial Coin Offering (ICO) program. It is based in Switzerland, making it less vulnerable to US regulations against crypto-lending platforms. Since its founding, it has proven to be a solid platform and stands as a leader in cryptocurrency lending. Nexo offers its investors higher interest if they keep a percentage of Nexo in their portfolios. As for fiat currencies, they provide reasonable interest rates. With Nexo, the user must deposit the backed crypto into their wallet and then choose how they want to lend it out. In other words, it decides how to use the peer-to-peer market. The whole system is designed to guarantee liquidity automatically and with greater flexibility than a traditional bank. The network makes it easy for customers to obtain fiat currency while retaining ownership of their cryptocurrencies. Nexo supports over 17 cryptocurrencies, such as XRP, Cardano, Bitcoin, Ethereum, and more. The platform also supports Nexo token payments in EUR, ETH, BTC, and USD. See more information in this Nexo review. The technology behind the Nexo blockchain guarantees decisive transparency at the heart of the platform. Through Ethereum's smart contract system, it facilitates the process and stores all relevant tokenized data for transactions. You can check out this Coinloan review on similar platforms.Current Nexo crypto interest rates
The platform offers Nexo earn rates starting at 10% for stablecoins and 6% for altcoins, and you can earn up to 12% interest if you choose to take your rewards in the Nexo token. You can also earn up to 12% annual interest in Pounds, Euros, and US Dollars. Interest is calculated daily, and you can deposit or withdraw your tokens whenever you want. The best part is that there is no minimum balance required to take advantage of this exciting program.How to create Nexo savings account
Nexo, like Bitcoin loan sites, offers loans secured by cryptocurrencies. These loans are unique because the user retains control of their cryptocurrency, allowing them to enjoy appreciation benefits without selling their cryptos to repay the loan. Creating an account on Nexo is simple. Just do the following:- Download the application from the official website.
- Create a report in the app.
- Input your email and password and press the "Click to verify" button.
- Another verification window will open, complete the puzzle and press the "Register" button.
- Verify your email address by clicking "Verify Email," which will be sent to your inbox.
- When your email is verified, click on "Continue with your Nexo account," and you will be automatically redirected to the Nexo platform.
- Log in to the platform with your Nexo account.
How to Complete KYC on Nexo
Here are the steps that will allow you to validate your account and your identity:- Check your profile, log in and select this option.
- Upload the required documents and choose the document you want to verify your account.
- Take a photo of it and place it where the app says.
- You will be sent a notification telling you of the successful sending of the KYC data.
- If there are no issues, Nexo will verify your account within minutes.
How to use Nexo interest accounts
Nexo also offers a +2% interest bonus on all assets held in your savings portfolio. For that, proceed as follows:- Log in to your Nexo account.
- Click on "My profile."
- Go to settings and select "Nexo token interest payments."
Nexo stablecoin interest
Here is the list of digital assets you can stake as Nexo and the annualized returns in % (you will earn 2% less if you receive your interest in crypto and not in Nexo token).| Cryptocurrency | Interest |
| USDT | 12% |
| USDC | 12% |
| USDP | 12% |
| USD | 12% |
| IAD | 12% |
| USDX | 12% |
| EURX | 12% |
| GBPX | 12% |
| Nexo | 12% |
| BTC | 8% |
| ETH | 8% |
| BCH | 8% |
| BNB | 8% |
| LINK | 8% |
| XLM | 8% |
| TRX | 8% |
| PAXG | 8% |
| ADA | 8% |
| SOIL | 8% |
| DOT | 8% |
| DOGE | 3% |
When does Nexo pay interest?
The Nexo platform offers interest rates starting at 10% for stablecoins and 6% for altcoins, and you can earn up to 12% interest if you choose to take your rewards in Nexo tokens, similarly to other Ethereum lending sites. You can also earn up to 12% annual interest in Pounds, Euros, and US Dollars. Interest is calculated daily, and you can deposit or withdraw your tokens whenever you want. The best part is that there is no minimum balance required to take advantage of this exciting program.
Frequently Asked Questions
Can you deposit fiat currencies on Nexo?
Currently, it is possible to deposit in fiat currencies such as Euros (EUR), US Dollars (USD), and British Pounds (GBP). This is one of Nexo's strengths because, as a general rule, it is very rarely possible to be able to deposit and stake currencies.
In the case of Nexo, you can earn up to 12% on currencies which is incredible and way above what you can expect in a traditional bank.
What are the benefits of staking with Nexo?
Among the benefits of staking on Nexo:
- You can have high-yield savings with a compound interest rate of up to 12% and even in 3 currencies (Euro, US dollars, Pound sterling).
- Your interest payment will be obtained daily.
- You will have complete flexibility, and you can withdraw or use your funds whenever you need them.
- No fees and no minimum deposit requirement.
- Your crypto-currencies are secure and cold-stored.
- Assets from Nexo's portfolio support the funds.
Is there withdrawal fees on Nexo?
With Nexo, you have no withdrawal fees but only minimum amounts you can withdraw. They vary depending on the type of cryptocurrencies you have in your wallet.
For example, for Tron, the minimum cashout is 20 tokens. Bitcoin has a minimum withdrawal of 0.001.