Nexo describes itself as the world’s leading regulated financial Institution for digital assets. Antoni Trenchev is the co-founder and managing partner.
It was founded in 2017 and is based in London, England. Nexo has raised $52.5 million in funding and claims to have over $15 billion in assets under management.
Interest can be earned on crypto and stablecoins. Crypto pays up to 8% while stablecoins pay up to 12%.
Interest is compounded daily which means you get an interest payout every day. Money can be added and withdrawn at any time. There isn’t any lockup period on deposits.
While fiat money can be withdrawn at any time, there are limits on the number of times you can withdraw crypto.
These limits range from 1 to 5 times per month and are dependent on your loyalty tier. Here are the four tiers, their requirements, and monthly withdrawal limits.
The interest rates that Nexo offers are competitive and they pay out daily which is a bonus. If it happens to pay interest on one of the coins that you own, it could certainly be worth checking out.
But if you want to deal with a U.S.-regulated company or you’re looking earn interest on a coin that Nexo doesn’t support, you’ll need to choose a different platform.