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Nexo Loans

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Verdict: "Nexo Borrow" allows you to use your assets as collateral and take out automated instant loans, without credit checks and with a loan to value ratio (LTV) of up to 50% against your portfolio; for a maximum loan of up to $2,000,000. For example, users can deposit $10,000 in BTC for a $5,000 loan in Fiat/stablecoins, with APR ranging from 5.9 - 11.9%. Learn more about these loyalty levels below.

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8.5/10 (Expert Score)
๐Ÿฅ‡ Product is rated as #2 in category Loans

Whilst 50% LTV is the only option, Nexo features a number of staking rewards and loyalty level incentives. If the value of your assets goes down to a point where your LTV is 83.3%, Nexo will start liquidating small amounts of your portfolio to pay loan repayments. This always will occur at this figure, regardless of loyalty level.

Firstly, the Nexo Base level is the lowest of the Nexo Loyalty Levels, which are staking levels (in this case, a no staking level) that require you to hold a percentage of NEXO tokens in your portfolio in order to get preferential loan rates and savings rates. With the Nexo Base Level, you don't have to stake any NEXO tokens. However, you will pay the highest interest rates of 11.9% APR.

Nexo Silver is the second loyalty level, requiring you to hold 1-5% of your portfolio in NEXO tokens in order to get the loan rate of 10.9% APR. There are no minimum or maximum loan periods for all levels, and you can borrow for as long or as short as you like. Nexo Gold level is the second-highest account, requiring users to hold 5 - 10% of their portfolio in NEXO tokens in order to get the loan rate of 8.9% APR. Outside of reduced APR, other benefits remain the same as previous levels.

Lastly, Nexo Platinum is the highest level savings account that requires you to hold at least 10% of your portfolio staked in NEXO tokens. This is a lot unless you are bullish on NEXO, but the rates are some of the best on the market in 2021. With Nexo Platinum, you can use select cryptocurrencies as collateral and borrow up to 50% LTV, without credit checks, for an unlimited period, at just 5.9% APR.

We believe that whilst rates for Gold and Platinum levels are highly competitive, there is little to differentiate them outside of APR. Margin call rates remain the same at 83.3%, with no additional LTV options unlike some competitors. However, having a variable rate of 1-10% of user portfolio makes this platform much more appealing and achievable for stakers of varying budgets.

Supported currencies
8.5
Interest Rates & Fees
8.5
Customer support
7.5
Company Reputation
7.5
Overall Experience
9
PROS:
  • Competitive 83.3% margin call
  • High maximum loan of $2,000,000
  • Well established company in the space
  • Available worldwide, including the US
  • No minimum or maximum loan periods, repay at any time
  • Instant loans with no credit checks and fast payouts
  • Highly competitive 5.9% APR for platinum users, Nexo's lowest rate
  • Loan payouts in multiple currencies, including 18 cryptocurrencies and 40 Fiat assets
CONS:
  • Average APR for standard users
  • Staking is a percentage of portfolio, rather than a fixed amount
  • Platinum status requires a significant 10% NEXO tokens in your portfolio
  • Nexo is a centralised finance (CeFi) platform, which requires KYC checks, and means you don't own your keys
  • Whilst their interest rate is technically fixed, Nexo can change it at any time as per their terms and conditions
  • Little difference between loyalty levels outside of reduced APR

Specification: Nexo Loans

Loan Information
Accepted Collateral
Supported Loan currencies
Staking ,
Staking Percentage 1 - 10% NEXO tokens in portfolio
Loan to Value Ratio (LTV) 50%
Margin Call LTV 83.3%
Maximim loan amount $2,000,000
Minimum loan amount $500 in fiat currencies, $5000 in stablecoins (USDT, USDC)
Company & Availability
Insurance Coverage Pooled
Eligible regions
Excluded regions Afganistan, Bulgaria, Burma (Myanmar), Central African Republic, 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
Crypto Loan Rates
Bitcoin APR 5.9 - 11.9%
Ethereum APR 5.9 - 11.9%
Bitcoin Cash APR 5.9 - 11.9%
BNB APR 5.9 - 11.9%
DAI APR 5.9 - 11.9%
EOS APR 5.9 - 11.9%
HUSD APR 5.9 - 11.9%
Litecoin APR 5.9 - 11.9%
NEXO APR 5.9 - 11.9%
PAX APR 5.9 - 11.9%
PAXG APR 5.9 - 11.9%
Stellar APR 5.9 - 11.9%
Tron APR 5.9 - 11.9%
TUSD APR 5.9 - 11.9%
USDC APR 5.9 - 11.9%
USDT APR 5.9 - 11.9%
XRP APR 5.9 - 11.9%
Asset protection & Insurance
Cold Storage Yes
Insured by BitGo
Specification
Fiat Currencies 5.9 - 11.9%

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