Nexo and Crypto.com are 2 popular crypto platforms that offer loan services. Nexo is based in Zug, Switzerland. The platform was launched in 2018 and has over 5 million users. Crypto.com was founded in 2016 and headquartered in Singapore. Since their launch they have accumulated over 50 million users. Both platforms support a large number of digital coins and offer a variety of services. Our Crypto.com and Nexo review compares the two platforms allowing you to decide which is the best for your crypto loan needs.
Nexo is a crypto lending and banking services platform that supports over 60 cryptocurrencies. They are available in most countries and offer a variety of services. Aside from crypto backed loans, services include cryptocurrency interest earning accounts, crypto trading and a credit card. In addition, Nexo has its own native cryptocurrency, the NEXO token.
Crypto.com is a full-service crypto banking platform. Services offered include crypto backed loans, cryptocurrency interest earning accounts and a cryptocurrency exchange where users can buy, sell and trade over 250 digital coins. Users can buy and sell NFTs and Crypto.com offers their own credit card. They also have their own token known as Cronos (CRO).
Nexo Features
Crypto.com Features:
The following table provides a brief summary of the major features of Nexo and Crypto.com.
| Feature | Nexo | Crypto.com |
| Native Token | NEXO | Cronos (CRO) |
| Crypto Backed Loans | Loans available in over 40 fiat currencies plus USDC and USDT. Over 50 cryptocurrencies accepted as collateral | Loans available in USDC, USDT, TUSD or PAX. 24 cryptocurrencies accepted as collateral |
| Interest Earning Account | Earn interest on 35 different cryptocurrencies | Earn interest on 37 different cryptocurrencies |
| Cryptocurrency Exchange | Trade around 60 different cryptocurrencies | Trade over 250 different cryptocurrencies |
| Credit Card | Yes | Yes |
| NFT Marketplace | No | Yes |
Both Nexo and Crypto.com offer better rates on loans if borrowers own their native tokens. First, we will look at the different loan interest rates at Nexo.
| Tier Level | NEXO Token Requirement | Interest on Credit Balance |
| Base | No NEXO Tokens Needed | 13.9% |
| Silver | Minimum of 1% of the user’s portfolio balance in NEXO | 12.9% |
| Gold | Minimum of 5% of the user’s portfolio balance in NEXO | 8.9% for LTV over 20% 1.9% for LTV of 20% or lower |
| Platinum | Minimum of 10% of the user’s portfolio balance in NEXO | 6.9% for LTV over 20% 0% for LTV of 20% or lower |
Now we will look at the loan interest rates for Crypto.com.
| Cronos Tokens Staked | Loan Interest Rate |
| None | 12% |
| $40000 CRO staked | 8% |
| $100000 CRO staked | 6% |
Crypto.com has the better base rate but borrowers have to stake a considerably larger amount than at Nexo to get the best rates
Next, we will look at how their base rates compare on interest earning accounts without holding the platforms native token.
| Cryptocurrency | Nexo Base Fixed 1month | Nexo Base Flexible | Crypto.com Base Fixed 1 month | Crypto.com Flexible |
| Bitcoin | 4% | 3% | 1.2% | 0.20% |
| Polkadot | 11% | 10% | 6.4% | 1.15% |
| Avalanche | 8% | 7% | 2% | 0.25% |
| Tether | 8% | 8% | 3% | 0.40% |
| Solano | 5% | 4% | 2% | 0.25% |
| Cardano | 5% | 4% | 1% | 0.10% |
| Polygon | 12% | 10% | 3% | 0.35% |
| USD Coin | 8% | 8% | 3% | 0.40% |
| Fantom | 6% | 5% | 2.5% | 0.35% |
| Ethereum | 5% | 4% | 1.5% | 0.20% |
It is harder to compare when you consider the number of native tokens held on each platform. We will look at the maximum rate it is possible to earn on the above tokens on both Nexo and Crypto.com.
| Cryptocurrency | Nexo with at least 10% of the investor’s portfolio in NEXO 1 month fixed | Crypto.com $40000 in CRO staked 1 month fixed |
| Bitcoin | 5% | 4% |
| Polkadot | 13% | 12% |
| Avalanche | 10% | 6% |
| Tether | 10% | 6% |
| Solano | 6% | 5% |
| Cardano | 6% | 4% |
| Polygon | 14% | 7% |
| USD Coin | 10% | 6% |
| Fantom | 8% | 5.5% |
| Ethereum | 6% | 4% |
Investors can earn an additional 2% at Nexo if they choose to take their interest in NEXO and at Crypto.com can earn an additional 1% to 2.5% depending on the token if they opt for 3 months fixed.
Nexo currently supports 61 cryptocurrencies on their platform.
| Bitcoin | Ethereum | NEXO Token | Tether |
| USD Coin | DAI | Pax Dollar | TrueUSD |
| Binance USD | PAX Gold | Axie Infinity | Polygon |
| Avalanche | Kusama | Cosmos | NEAR Protocol |
| THORChain | Fantom | Optimism | XRP |
| BNB | GMX | Polkadot | Solana |
| Cardano | Litecoin | Bitcoin Cash | Stellar |
| Tron | EOS | Chainlink | Dogecoin |
| Decentraland | The Sandbox | SushiSwap | dYdX |
| Aave | Curve DAO | Lido DAO | Maker |
| Chiliz | 1inch Network | Ethereum Name Service | Frax Share |
| STEPN | Compound | Convex Finance | Synthetix |
| The Graph | FTX Token | ApeCoin | Gala |
| Uniswap | Huobi Token | Aptos | Sweat Economy |
| Terra | TerraClassicUSD | USDx | EURx |
| GBPx |
They can all be traded on the exchange, 56 of them can be used as collateral and 35 may be deposited into interest earning accounts. Nexo also accepts over 40 different fiat currencies including EUR, GBP and USD.
Crypto.com supports over 250 different cryptocurrencies including the following:
| Cronos | Bitcoin | Ethereum | Tether | USD Coin |
| Pax Dollar | TrueAUD | TrueUSD | TrueCAD | TrueGBP |
| Avalanche | BAT | Binance Coin | Bitcoin Cash | Cardano |
| Chainlink | COSMOS | Decentraland | Elrond | Enjin Coin |
| Harmony | Litecoin | NEAR Protocol | PAX Gold | Polkadot |
| Solana | Stellar | Tectonic | Uniswap | VeChain |
| Zilliqa | Dai | Celer Network | Fantom | Polygon |
| Algorand | VVS Finance | DOGE | CHZ | Ripple |
All may be traded on Crypto.com’s exchange, 24 are accepted as collateral and 37 may be deposited into interest earning accounts. In addition, they accept over 20 different fiat currencies including GBP, USD and EUR.
Nexo uses third-party custodial services like Fireblocks, BitGo and others to store their digital assets in a combination of hot and cold storage. Their custodial assets are insured for $775 million. To help protect user’s information and assets they employ two-factor authentication, biometric identification and whitelisting.
Crypto.com uses Ledger for digital asset storage and 100% of user’s cryptocurrencies are held in cold storage, and they have secured cold storage insurance. Only Crypto.com funds are in hot wallets. To protect transactions, they use Multi-Factor Authentication which includes password, biometric, phone, email and authenticator verification. As an additional security measure, it is mandatory to whitelist external addresses through email verification.
Nexo charges a fee for cryptocurrencies purchased with a credit card. For residents of EU countries, the fee is 1.49% and residents of non-EU countries are charged 3.49%. There are also some cryptocurrency withdrawal fees that vary depending on the digital coin being withdrawn. There are no loan origination fees, exchange fees or deposit fees.
Crypto.com charges a fee for trades based on the user’s trade volume over a 30-day period. Maker fees run from 0.075% to 0.060% but there are no maker fees if trading volume exceeds $10 million. Taker fees range from 0.075% to 0.050%. Investors can reduce fees by staking CRO. There are also fees for cryptocurrency withdrawals completed on-chain which vary depending on the cryptocurrency.
Getting started on both Nexo and Crypto.com is relatively easy. Both platforms are easy to use and navigate. In order to use Crypto.com services, their app must be downloaded. The Nexo and Crypto.com platforms are both fairly intuitive and new users shouldn’t have much difficulty.
Nexo and Crypto.com both offer mobile apps for Android and iOS devices which can be downloaded from the Apple App Store or Android Google Play Store. On both platforms the mobile app is easy to use and allows you to make full use of each platform’s respective services.
Nexo is available in most countries with the exception of Cuba, The Central African Republic, Iran, Estonia, Syria, North Korea, Bulgaria, and the U.S. states of New York and Vermont.
Crypto.com is available in 90 countries including Australia, Canada, the United States and most member countries of the EU.
Nexo provides custodial wallets for users which allows you to manage all of your assets on Nexo without those assets being stored in the same place. User’s information is displayed in an easy-to-understand manner making it easy to manage all crypto assets on the platform.
Crypto.com has both a centralized and decentralized wallet. The Crypto.com app wallet is a centralized custodial wallet while the Crypto.com wallet is decentralized.
Nexo Pros:
Nexo Cons:
Crypto.com Pros:
Crypto.com Cons:
Nexo and Crypto.com both have some nice features. Interest rates on loans are competitive on both platforms. Crypto.com has the slightly better rates before native tokens are taken into consideration, but Nexo has the advantage when a user’s portfolio contains at least 5% NEXO.
Nexo offers better rates on interest earning accounts but the Crypto.com exchange allows you to trade many more cryptocurrencies. Overall they are both good platforms and the best choice for you will depend on your particular needs.
Table of Contents
Crypto.com and Nexo both allow you to earn income on a similar number of cryptocurrencies but at Nexo investors will generally find the interest rates to be a little better than those at Crypto.com.
Nexo and Crypto.com are both good crypto platforms. Crypto.com supports more cryptocurrencies on their exchange but Nexo offer better rates on interest earning account. Neither has a significant advantage for loan interest rates so which is best depends on the user’s particular needs.
Nexo is available in most countries with the exception of Cuba, The Central African Republic, Iran, Estonia, Syria, North Korea and Bulgaria. Crypto.com is available in 90 countries including Australia, Canada, the United States and most member countries of the EU.
