Review – Crypto-Backed Loans And Other Services

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By Alex Halstedt

Last Updated Review

Advertising Disclosure Review

  • Platform
  • Ease of Use
  • Fees
  • Tools
  • Platforms Offered
  • Customer Service
  • Platform & Account Security


Heard of the cryptocurrency lending company,, and interested in trying it out? is a cryptocurrency lending company that offers crypto-backed loans and other services. Does have all your cryptocurrency needs? Read our in-depth review of first before you spend.


  • High security
  • No background check
  • Instant loans using customer’s crypto assets as collateral
  • Nexo Card acts similar to a credit card, linking directly to the customer’s account
  • Customers can earn compounding interest on holdings
  • Highly regulated


  • Have to trust that the company has pure intentions and will not steal customer’s funds


The blockchain technology at the forefront of the cryptocurrency movement has been revolutionizing systems in every applicable use case thus far. The services offered in traditional finance are not immune to this, as the cryptocurrency space has seen new iterations of banking services operated on blockchain technology come to fruition in recent years. Main

Until recently, there have not been any services aimed at allowing crypto holders to enjoy the value of their crypto assets without having to first sell their assets. One company, in particular,, happens to be one of the very first lending companies to offer crypto-backed loans and services. Who is Nexo, and how do their crypto-backed loans work? Is it a legitimate and trustworthy company?

A Brief History Of is a crypto lending company, owned by Credissimo, a European lending company. Credissimo has been offering lending services to clients since 2007, striving to meet all regulations under the supervision of the European Banking and Financial Services Regulators. 

Launched in 2018, Nexo is Credissimo’s answer to offering instant loans, using the burgeoning innovations of blockchain technology to forge a new path in the realm of financial services. 

Since its inception, has climbed its way to rank amongst the top crypto lending services in the industry. In a short time, Nexo has managed to process over $1.5 billion for over 550,000 Nexo customers around the world. Services Instant Credit Line

Nexo has several services available for customers. One of these is their Instant Crypto Credit Line. This allows users access to an instant credit line in exchange for several asset holdings as collateral for the loan. The user’s crypto assets are deposited into a custodian account secured by BitGo. Credit Line

Customers can use Nexo’s handy calculator to estimate the amount they may be able to receive, taking the amount of collateral they are willing to provide, and Nexo’s interest rate into the calculation.

There are no background checks with the credit line, and users are free to spend the money instantly (by using a card) or deposit into their bank account. This process is relatively simple when compared to the process required with traditional banking. 

The Instant Crypto Credit Line essentially allows users access to the worth of their crypto assets without having to sell their assets for cash. The limit of the credit line greatly depends on the amount of crypto deposited as collateral, with the overall company loan limits ranging from $500 to $2,000,000. Card

In conjunction with the Instant Crypto Credit Line is the Nexo MasterCard Card. This card acts like a credit card, allowing users access to their Instant Crypto Credit Line for purchases. All purchases made are confirmed by the Nexo Oracle, with the changes being directly reflected in the customer’s account. Interest

For the people interested in capitalizing on their crypto holdings, Nexo offers a service to Earn Interest by allowing Nexo to store the user’s assets. During the holding period, the customer earns compounding interest at a rate of up to 8.0% APR. Users can earn interest on fiat currencies such as GBP, EUR, USD, as well as stablecoins such as USDT, USDC, TUSD, DAI, and PAX. Interest How It Works Mobile

To top off Nexo’s offerings, the platform offers its Mobile application for convenient, on-the-go account management. This application is available for Apple and Android phones, and allows customers full access to their accounts without the need for the use of a computer. Fees

The amount one will have to pay in fees regarding the loan in the Instant Crypto Credit Line depends on the size of the loan. However, the current rate as of this writing has credit lines at 5.9% APR. Fees

Regarding wallet transactions in the customer’s account, there are no fees for any transaction. This even includes blockchain fees. This means that users can send and transfer from their Nexo wallet without having to pay any extra fees.

Get started with now! Customer Support And Resources Support

Nexo has 24/7 customer support available for any customer requiring personal assistance. To contact customer support, all a user needs to do is submit a request explaining the details of the problem. Customer support should be able to respond in a quick, expedient manner. Help Center

A Help Center and FAQ are available for those that may have general questions about their accounts or Nexo’s services. These resources cover a wide range of topics relating to the ins-and-outs of the services offered by Nexo. Faq Youtube also has a fairly active YouTube channel, featuring news announcements, and interviews with leading industry professionals. Medium

The company has an active page on Medium used for official announcements regarding the Nexo platform. Customers can also find interviews and past company conference highlights. In addition to Medium, Nexo can be found on Telegram, Twitter, Reddit, and Facebook. Social

For those customers that wish to know more about how the Nexo platform and services work, the company has graciously made their Whitepaper public and easy to find. Customers can also find information on the Nexo utility token, and an overview of Nexo and its core mission. 

Is Trustworthy?

Nexo is indeed a highly trustworthy company, offering services in which a customer can feel comfortable using. As mentioned previously, Nexo is operated by Credissimo, a highly regulated lending company that has been serving customers in Europe for over a decade. 

To meet AML/KYC regulations, Nexo uses Onfido for facial recognition and validation, ensuring that every account is valid and meets regulation requirements. 

Assets that are held in a custodial account are managed by the digital asset security company Bitgo, as well as Lloyd’s of London, the infamous market for insurance and reinsurance. Over 95% of the user assets are held in cold storage, secured in multi-sig wallets, encrypted with 256-bit encryption for the highest security. For added security, Nexo offers Fraud Monitoring that works around the clock to detect any threats. On top of it all, each Nexo account has an insurance policy of up to $100 million. 

To date, the Nexo platform has not had a security breach of any kind. 

For those still unsure about the legitimacy of Nexo, know that the platform has been routinely audited by Deloitte, ensuring that the platform is operated and maintained to the highest degree of standards. 

Opening An Account On Sign Up New Account

To open an account on, simply click on the Create Account button found on the Nexo webpage. The new customer will be required to enter the email address and password they would like to have associated with the account. Sign Up Email Verification

Once the new customer has entered their account credentials, Nexo will send an email to the address provided. Inside the email, the customer will find a button that, once clicked, will verify that the email is valid. From here, the user is free to access their account. Sign Up Verified

After the new customer has signed up to Nexo, they will have to set up 2-Factor Authentication to help secure their account. 2FA helps the platform verify the user’s identity by broadcasting a unique code that regenerates every 30 seconds. This code can be applied to be required at login and to verify account actions. Sign Up Verification

Following the signup process, the new customer will be required to provide personal information to conform with AML/KYC regulations. This is only to comply with financial regulations and will not reflect in the customer’s loan application process, as there are no background checks for the Instant Crypto Credit Line. To qualify for the Nexo MasterCard, and to be able to receive dividend payments, users must complete the Advanced Verification requirements.

Conclusions For

The services offered by have completely revolutionized the possibilities available in the cryptocurrency space by allowing users access to loans without having to go through the rigorous processes of traditional banks. The Nexo card is essentially a crypto credit card, empowering crypto holders by giving them more capability without having to sell their valuable bags of crypto. 

As a whole, is the poster child for how a crypto company should operate. The team behind Nexo (Credissimo) has consistently met regulatory requirements in their business practices, ultimately giving customers around the world the ability to leverage their crypto holdings. The fact that the Nexo platform has also consistently passed Deloitte audits is a true testament to the services offered through the platform. 

This company’s services are ideal for the person or company that has a large holding of cryptocurrency assets and needs cash but doesn’t necessarily want to sell their holdings for cash. Selling assets for cash could mean that the individual may not be able to attain the same quantity at the same prices. The credit line service is a great solution to this risk.

For those individuals that feel comfortable allowing Nexo to hold their assets, the ability to earn compounding interest is a fabulous way to employ holdings that are doing nothing more than sitting in a wallet. With this service, customers are empowered to capitalize fully on their holdings.

Lastly,’s presentation is applaudable, as its website manages to cover every base while managing to be extremely navigable. 

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Alex Halstedt

Since 2012, Alex Hastedt has been fully immersed in the world of cryptocurrency. Since then, he’s continually educated himself on the latest developments within the crypto space. With over 3 years of formal business education, as well as over 5 years of trading experience (with over 400 hours of education), Alex commits to providing honest assessments of cryptocurrency projects and exchanges. It has become a personal mission of his to help educate those who may be new to the space, that they may not fall prey to poor decision making and other potential pitfalls he has witnessed others experience.

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