In the wild west of crypto, Nexo is tough to beat

The platform is secure, has an intuitive interface, and offers perhaps the best consistent interest rates in the industry.

Investing in Stablecoin

I first looked into Nexo because it had the best stablecoin interest rates at the time (8% base rate). And, when I investigated more, I learned that it also offers higher interest based on loyalty membership level. If your portfolio is 1-5% NEXO tokens, you earn 8.25% on stable; 5-10% NEXO, 9% on stable; and over 10% NEXO, you get 10% on stable. Additionally, if you choose to earn your interest in NEXO (not available in the U.S.), you earn 12% on stablecoins.

From what I’ve found, this is the best you can find for mid-to-long-term investing in stablecoin. Earning 10% a year with very little risk is tough to beat. Some platforms with variable interest rates (like Fulcrum) might peak at a much higher rate, but then fall below the 10% much of the time. The average seems to be lower than with Nexo.

Nexo also offers good interest rates on crypto as well. At writing, fixed rates are 8% for BTC, 17% for AVAX, and 20% for MATIC. 

Deposit and Withdrawal

The deposit (called ‘top off’) and withdraw features are fairly straightforward. Unlike most platforms, Nexo offers no-fee withdrawals, so all you have to pay is the miner/gas fee for the transaction. As with the interest rate, the number of free withdrawals increases with loyalty level as well—1 for base, 2 for silver, 3 for gold, and 5 for platinum.

Trading

If there is a drawback, I would argue that it is in its third-party vendor for purchasing NEXO. To buy NEXO through the site, you are directed to Changelly, which, in my experience, was not honest with its fees and ultimately gave me much less in NEXO than I paid for. I recommend buying your NEXO tokens through your Brave wallet instead and then sending it to your Nexo account. Otherwise, the trading functionality on Nexo seems fairly smooth and issue-free. And, currently, there is a 0.5% cashback incentive on trades.

Borrowing

Investors who want to liquidate their crypto holdings without selling (and incurring a tax), Nexo offers some of the best credit options in the business. Nexo allows customers to borrow against their holdings at a reasonable rate. At the time of this writing, Nexo is offering 0% interest loans on 22% of your cash and stablecoin holdings and 6.9% on the rest up to 90% of your holdings.

NEXO Token

The NEXO token itself is, like most crypto, tied to the fate of Bitcoin—as Bitcoin goes, so goes NEXO. For the most part. Since holding NEXO tokens boosts your interest rate, there is added incentive to hold on to it. That helps it keep steady to some degree and doesn’t fall as quickly as the bigger coins. But it also doesn’t rise as quickly as other coins either. 

Transparency

One other thing I really appreciate about Nexo is the company’s transparency. The crypto world is definitely the wild west, and Nexo does everything they can to give its customers peace of mind with consistent explainer emails and engagement through owner voting. Everyone who owns NEXO can vote on major decisions, such as recently when Nexo replaced NEXO dividend payment to daily interest payments. We were also notified about a recent decision by the company to buy back $100 million of NEXO over the course of several months. I have never had an issue with transfers or security with the platform, which is a good place to be in this crazy atmosphere of crypto trading.

Conclusion

Nexo offers the beginner crypto investor a safe, comfortable environment to start earning a good interest rate, and, at the same time, it offers experienced traders a less-risky way to capitalize on the market.

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