Nexo Crypto Review 2022

Nexo crypto Review 2022

Nexo Review

Nexo is one of the most popular platforms out there that allows its customers to earn a compound interest on their cryptocurrency that is paid up daily. Nexo is a crypto platform that is also a borrowing and lending platform.it is a financial service that allows you to earn interest on your crypto assets by providing instant loans and collateralized loans backed by the value of your cryptocurrency holdings.

Pros Earn cashback on their credit card in NEXO or BTC (BTC rates are lower) There are advanced security features as well as insurance Nexo offers a card with which users can make payments as they would with a regular debit or credit card.

Interest paid daily

Cons Must hold NEXO for higher interest rates There are problems and limitations with withdrawals Not a lot of collateral choice There is a lot of competition in the lending/borrowing crypto space Price volatility may be an issue.

Key Features Keeping your crypto in your wallet is the modern equivalent of keeping cash under the mattress. If you’re holding coins for the long or mid-term, why not lend them out on a platform like nexo and earn some beautiful passive income on them? Like a bank, but without ridiculously low-interest rates.

Nexo is an ideal choice for both cryptocurrency beginners and seasoned investors.

How It Works To start using the platform users must first complete the KYC procedure, you’ll have to fill in your data, scan your id to complete the verification, and in some cases provide some additional documentation such as utility bills.

You will then be able to access all of the services the platform offers.

Supported countries Nexo supports over 200 jurisdictions, including most countries. Some notable exceptions where nexo isn’t available are bulgaria, new york, and vermont.