Nexo Review: Is it Safe and Legit?
Want to jump straight to the answer? The best cryptocurrency brokers for traders are Coinbase and Gemini
The #1 Forex Trading Course is Asia Forex Mentor
Nexo is a top-rated and operated platform available on the internet, enabling people to trade cryptocurrency investments. If you are looking forward to earning some interest in your investment in cryptocurrency, it will be the perfect platform on the internet.
However, it is essential to keep in mind that the interest rate will be different, but you can quickly expect it to be between 6% and 12%.
This platform is based in Switzerland, so it is less vulnerable to the United States regulations and rules. We bring you Nexo review to invest in fiat currencies. Another great thing about this platform is that it enables the users to take out loans based on the amount of cryptocurrency available in their account at that particular time.
This article will provide you with a comprehensive Nexo review and information about if it will be a good choice for you for long-term cryptocurrency investment. So without any further wait, keep reading below to find out more information about this platform and Nexo review.
Table of Contents
Nexo Review: What Is Nexo?
Nexo is an account available for cryptocurrency interest, and it is one of the major platforms available out there for people to benefit from. The best part about this platform is that they are offering an interest rate that is going to be between 6% and 12%. Nexo token is one of the fastest-growing Nexo tokens available within a Nexo account.
Besides that, they also provide a wide range of digital assets. It is a prevalent cryptocurrency interest account that is not like any other available for secured crypto lending companies and Nexo-regulated platforms. You require a bank account to invest so check out the Nexo review.
The best part about this platform is that it will give you a daily payout option, and you will be able to earn every day once you have invested your money in this account.
You can also take advantage of the 12% popular Fiat currencies, which are specially for the international users of this account for Nexo holders and a Nexo loan. However, it is essential to keep in mind that you will be earning your interest in the base currency, but you can also make deposits in Bitcoin.
Nexo card has a Nexo loyalty service for instant cash loans and an instant crypto credit line. You can get crypto interest accounts, idle crypto assets, private keys, crypto assets, fiat currency, fiat money, and crypto collateral on the crypto lending platforms.
You can also borrow cash from the Nexo wallet app and get the crypto asset. Crypto funds on this platform are crypto-insured on the Nexo blockchain.
|RECOMMENDED TRADING COURSE|
#1 Forex, Crypto and Stocks trading course. Ranked most comprehensive by Investopedia and Best by Benzinga. Free to Try!
How does Nexo work?
Nexo is a platform distributed to the early adopters and the team. This firm shares up to 30% of its revenue and the other firm holders. It works similarly to the dividend of a company, and they are divided in the same way with all the company’s shareholders.
This platform underpins the deposit ecosystem. According to the platform, they have paid more than 9 million dollars to their shareholders from 2018 until now. It is worth it if you are looking forward to investing in cryptocurrency.
However, this platform will not provide you with any investment advice, and you should keep that in mind if you are thinking about using this platform in the future. But it is still worth it because it will be valuable for your money in the long run. They launched in the market after 2017 and started getting a boss in 2021. However, this platform is not recommended to you if you are looking for investment advice because that is not how it works.
If you are planning to hold the token for a long time, then it will be a perfect option for you to receive the company revenue, and then you will be able to increase your APY in the interest account.
It is a very secure platform, and they are the custodian for all the deposits done in the account and safely secure your digital assets.
|Broker||Best For||More Details|
securely through Nexo website
What are the Features of the Nexo platform?
Nexo provides many fantastic features to their users, whoever thinks about making cryptocurrency investments using this account.
You can also start using this account and take advantage of all these features. To better understand these features, let’s look at them below.
1. Ease of Use
Nexo is straightforward to use, and that is why it is a top-rated platform among cryptocurrency investors nowadays. It will be a very fantastic platform to kick start your journey if you have never used a cryptocurrency saving account ever before.
It will provide you with a simple layout, and you will not be confused at all. Many cryptocurrency saving accounts can be very complex for some users, and this will not be a problem for you if you use this account.
If you are looking for a platform that will provide you with a neat and clean layout, then it will be the perfect one for you in this regard.
2. Fast Signup
Another great feature of this platform is that it is straightforward to create an account, and it will not take you a lot of time. It will take a few minutes for most users, and your account will already be set up, and you will be good to go.
All you need to do is answer a few questions about yourself, and your account will be created. There is a mobile platform and a desktop platform available, and you can choose the one that is going to be the most suitable one according to your requirements and however you like to work daily.
3. User-friendly mobile application
Many cryptocurrency investment accounts are available on the very complex internet, and their mobile application is challenging to use.
Those applications can be a nightmare for a person who has never performed cryptocurrency investment before because they will not grasp mobile applications.
But it will not be a problem for you if you decide to use this platform because they have a user-friendly mobile application that you can easily use daily.
Even if you are new in the industry and do not have enough experience investing in cryptocurrency, you will use this mobile application because it is very straightforward. The best part about this mobile application is that it does not have any useless features or any useless thing that you are not going to use.
That is why you will not be confused at all, and you will know what you need to do precisely whenever you are using the mobile application of this cryptocurrency investing account.
4. Straightforward and easy to use platform
Another great feature of this platform is that it does not overcomplicate things, especially those new to the cryptocurrency industry.
The layouts which are used in the platform are straightforward to navigate. If you do not have enough experience and are a beginner, you will have a perfect trading experience using their mobile application or a desktop version.
Every feature and button is designed so that it will not cause I have self for you, and you will be able to navigate through everything in less time.
Whether you want to transfer money or trade cryptocurrency, everything will be instant for you when using this platform or their mobile application. The best part about this platform is that you can easily see your available credit in the account by clicking a few buttons, and you are good to go!
5. Two-factor authentication
Two-factor authentication is a significant feature in every mobile application nowadays. You will not secure your data without this feature, which is why most online platforms provide two-factor authentication features for their customers online. This way, your account gets double protection, no one will be able to hack your account, and your data will not be lost.
The chances are meager that your account will be hacked if you have two-factor authentication on your account, and that is why you should always keep it on in your account, and your account will not be hacked.
A great feature of this platform is that it provides you with two-factor authentication to secure your account quickly.
You need to secure your cryptocurrency investment account because money matters are compassionate, and you need to keep your money securely.
6. Customer service experience
Nexo platform has impressive customer service and support systems for their customers. If you choose this service, you will never be disappointed because they offer three different methods to get in touch with them if you have any problem regarding the platform.
You can email them if you have any questions in your mind, and they will get back to you within 24 hours. Just send them a message, and they will get back to you immediately.
Overall they have an excellent support team who can reply to you 24 hours a day and seven days a week.
If you do not want to email and are looking for an instant reply, you can use the online messaging option, and the chatbox will appear on the website.
Nexo Pricing and Plan?
This platform does not charge you a lot of money, and the account fees are also minimum if you want to open your account. It will be just like a traditional savings account that you will open in any other financial institution, and it does not cost you a lot of money.
The best part about this account is that it is not going to charge any money for maintenance, and it is going to be entirely free for you if you want to withdraw any money from your account.
You will not have to pay any minimum amount of cryptocurrency that you have to deposit in your account so you can start earning an interest rate from your account. It is a great feature to have because your money will be safe in your account.
However, there will be withdrawal minimums for cryptocurrencies, but they will depend upon the kind of cryptocurrency in your wallet at that moment.
The lowest account minimum is for Bitcoin, and the highest minimum is 20 tokens. It is important to note that you have to pay a transaction fee to transfer cryptocurrency between your different wallets. It is a necessary thing that you need to do whenever you are using this account for trading cryptocurrency investment.
|Broker||Best For||More Details|
securely through Nexo website
Who is Nexo Best For?
Nexo is an excellent online investment platform if you are a long-term cryptocurrency investor. This platform will benefit you if you are looking forward to earning revenue and profit from the interest rate you will get by holding cryptocurrency in your wallet for a long time.
It is the perfect opportunity for those in for an extended period, and I want to earn money by holding their cryptocurrency inside a wallet for a long time.
Other than that, it is the best platform for those people who already have a stable coin in their wallet. It is not necessarily a platform for advanced users because it is a beginner-friendly platform.
If you are not in the cryptocurrency industry, it will be an excellent platform for starting your journey in the beginning.
If you are new to a cryptocurrency savings account, you can earn a lot of money and passive income by using this account. All you have to do is hold your cryptocurrency in the world for a long time, and you are good to go!
Nexo Pros and Cons
- It is a reliable platform
- You can earn a lot of interest rate
- User-friendly mobile application
- Advanced security features are available
- A lot of educational resources are not available
- Customer support could have been better
Nexo User Experience
Nexo provides a great user experience to their long-term users and begi