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Nexo Exchange Review

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Verdict: Nexo has good fiat onboarding options and low fees. In fact, they cover all trading fees aside from the 0.75% spread on charges. The Nexo exchange only offers 75 trading pairs, so it's only really suitable if you're looking to stick to the top currencies. It's best for people looking to buy/exchange top currencies, and hodl long term in their crypto savings accounts.
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8/10 (Expert Score)
๐Ÿฅ‡ Product is rated as #2 in category Exchange
Nexo has an in-app exchange that supports up to 75 currency pairs on popular cryptocurrencies, stablecoins and EUR/GBP. This is quite limited compared to mainstream exchanges, however if you want to stick to the top cryptocurrencies and you're just looking to hodl, this could be an easy, low cost option which allows you to take advantage of Nexo's interest bearing accounts. One of the things we like most about the Nexo exchange is You pay no fees on your trades. Nexo covers all expenses related to transferring funds and executing orders on the third party exchanges used for the trades. The only fee charged is a 0.75% spread, which is very reasonable even compared to the bigger exchanges.
Fees
9
Supported currencies
5
Reputation
7
Security
9
Customer Support
8
PROS:
  • Very low fees, with most covered by Nexo, except the spread of 0.75%.
  • Good fiat onboarding options.
  • Good user interface and app.
CONS:
  • A low number of supported assets compared to other exchanges.
  • App has been known to be buggy.

Specification: Nexo Exchange Review

Company & Availability
Headquarters London
Year of origin 2017
Number of users 1,000,000
Insurance Coverage Pooled
Previously hacked No
Eligible regions
Excluded regions Afganistan, Bulgaria, Burma (Myanmar), Central African Republic, China, Cote dโ€™Ivoire, Cuba, Democratic Republic of Congo, Eritrea, Estonia, Iran, Iraq, Lebanon, Libya, North Korea, Republic of the Congo, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Yemen, Zimbabwe
KYC
Credit Check No
Savings Information
Withdrawal fees Standard Network Fees
Features
Anonymity No
Copy Trading No
Exchange: Supported cryptocurrencies BNB, BTC, DAI, EOS, ETH, HUSD, LINK, LTC, NEXO, PAX, PAXG, TRX, TUSD, USDC, USDT, XLM
Social Trading No
Supported Apps Android, iOS
Exchange: Supported Fiat Currencies EUR, GBP
Trading Options Margin Trading, Spot Trading
Exchange Fees & Pricing
Funding Fees No fee
Purchase options Credit card, Cryptocurrency, Debit card, Wire Transfer
Trading Fees Spread of 0.75%
Asset protection & Insurance
Audited BitGo
Cold Storage Yes
Company Backing N/A
FDIC insurance No
Insured by BitGo
Specification
Exchange type Centralised

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