Nexo Review

Earn on average 10% interest per year.
Your investment is secured by a crypto-portfolio.

  • Zero loan default rates
  • No information about the team
  • Instant withdrawals
  • Questionable licenses
Risk & Return
Buyback GuaranteeNo
Auto InvestYes
Secondary MarketNo
Min. Investment€ 1
Loan Originators1
Loan Type2
Loan Period1 - 12 months
  • 100% asset-backed guarantee for all funds
  • Stable return
  • High interest
  • Not very transparent
  • Higher risk
  • No secondary market
_Risk & Return
_Due Diligence

Nexo Overview

Nexo is one of the leading peer-to-peer (P2P) lending platforms that offer investment opportunities in crypto-backed consumer loans. You’ll receive 10% annual interest, paid daily. Nexo is currently the only P2P lending site in our comparison that offers such high liquidity for investments in secured consumer loans. Find out how it works in our in-depth Nexo review.

nexo review

⭐ Learn more about our rating criteria

Nexo News

Last update: 1/07/2020

We have currently no news from Nexo.

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Nexo in Numbers

If you are a loyal follower of our P2P lending reviews, you know by now that we emphasize using every platform’s statistics to get the first impression of its track record.

On Nexo’s website, you can find some of the main data, however, you won’t find everything.

This gave us a good opportunity to reach out to Nexo and test their customer support. Here is what we found out:

Nexo Statistics
Year founded:2018
Investor's earnings:-
Total loan value:+ $250 M
Amount of investors:+ 500,000 (userbase)
Loss of investor's money:-
Average portfolio size:$ 10,987
Latest financial report:No report available

While Nexo was founded in 2018, the company behind Nexo, Credissimo, is an established player on the European lending market with over 12 years of experience. But more about Credissimo later.

Nexo wasn’t able to share the total earnings of investors to date.

The total loan value since inception is more than $250 million. According to Nexo, over 500,000 users are using the platform. This includes borrowers as well as lenders.

Nexo’s borrowers are mainly cryptocurrency investors, crypto funds, miners, ICOs, gamers, and virtual reality users.

Nexo’s investors are private individuals, businesses, institutional investors, and crypto exchanges.

The current average portfolio size is $10,987, which is higher than most European P2P lending platforms.

Nexo is also one of the very few P2P platforms that have their own token. As an investor, you can buy Nexo tokens which act as dividend stocks. Last year, Nexo distributed over $2.4M amongst Nexo token holders. This is just another way to earn extra income apart from the daily interest that you receive as a lender.

Nexo Promo Code

Looking for a promo code or additional cashback bonus? We’re normally able to provide our readers with one. But not this time. Nexo isn’t offering any bonuses for new investors at the moment. If the crypto-backed P2P platform changes its terms in the future, we will update this review.

Nexo Requirements

While most European P2P lending sites accept only investors that reside within the European economic area, Nexo accepts investors from anywhere.

Further requirements are:

  1. Be over 18 years old
  2. Have a valid email address

To top up your Nexo account, you need to pass the verification process, which consists of two steps.

Basic Verification

During this process, you are requested to fill out contact information as well as your phone number. Nexo will send you a text message that you need to type in on your screen to pass the basic verification. The basic verification allows you to do cryptocurrency withdrawals up to $100,000, which isn’t that relevant for you if you’re just an investor.

Advanced Verification

To top up your Nexo account with one of the supported cryptocurrencies or fiat money, you need to pass the advance verification, where you are asked to provide a copy of your ID document, passport, or driving license.

For some unknown reason, our documents were not approved the first time, so we had to do this step twice.

As soon as you are verified, and activate the 2FA (two-factor-authentication), you can top up your account. Currently, Nexo offers top-up options in Euro or Stablecoins backed by the USD. Top-ups with cryptocurrencies are currently only available for borrowers, who will use the crypto credit line.

nexo top up

You start earning interest as soon as you top-up your Nexo account. The transfer can take up to three business days.

Risk and Return

P2P lending always comes with a risk, and most investors don’t realize all the possible risks as they mainly focus on the high yields.

Let’s have a look at the protection you are offered when investing as an individual investor on Nexo.

Secured by Crypto-Assets

Unlike many other European P2P lending sites that offer investments in unsecured consumer loans, Nexo lists only loans secured by overcollateralized crypto-assets.

What does that mean?

Let us explain…

Cryptocurrencies have been around for a while. Most users know them as digital assets. The ongoing problem with cryptocurrencies is that they aren’t user-friendly, meaning you can’t use them as fiat money and buy goods with it.

At least not on a daily basis.

Nexo allows crypto investors to use their digital assets and offer it as collateral for a crypto credit line.

This means that the borrowers borrow money while offering their crypto as collateral.

Why is this of any good?

Borrowers in certain countries need to fulfill strict credit score criteria. In many cases, the interest offered by banks and non-banking institutions is too high for unsecured personal loans.

Some lenders ask for interest of more than 100% per annum for short-term loans. Click here to learn more about investing in microloan.

With Nexo, borrowers that own cryptocurrencies can benefit from its digital value while offering it as collateral. There is no need to liquidate the assets in case the borrower needs to borrow money.

Banks do not accept this kind of collateral as they lack the technology and innovation,which is where Nexo steps in.

The main benefit for borrowers using Nexo is to borrow money for low interest, without liquidating their assets.

So what’s the catch?

Borrowers that want to borrow money need to provide twice as much value in crypto-assets.

To put it simply, if a borrower wants to borrow $10,000, he or she needs to transfer crypto worth $20,000 at the time. The LTV, in this case, is 50%.

The credit line can be repaid anytime.

In case the value of the crypto-assets drops, the borrower will be asked to pay back a certain amount of the loan or increase the value of crypto assets to match the LTV of 50%.

In case the value of the crypto asset drops by more than 47%, the assets will be immediately sold, and the loan will be repaid.

This is of great advantage for the investor as it guarantees the protection of its investments. In fact, the limits are even stricter for Nexo’s competitor Coinloan, where the LTV is maxed at 70%.

Drawbacks for borrowers

If the value of crypto is plummeting within a very short period, it can become very frustrating for the borrower.

Many borrowers reported that the Nexo system sold their crypto-assets without giving them enough time to react and repay the loan or increase the collateral.

Insured investment up to $100 M

The current lending process, as explained above, is an excellent safety net for the investors.

Additionally to that, Nexo partnered up with BitGo, a company specialized in multi-signature encryption technology. Some of BitGo’s investors are Goldman Sachs, Craft Ventures, Galaxy Digital Ventures, and many more. The insurance is provided by Lloyd’s, and it covers up to $100 M of investors funds.

So what’s the return?

Nexo offers you a fixed interest account. If you deposit Euros, you will receive a 10% interest per year on your deposits.

Your money will be distributed amongst borrowers who borrow money from Nexo.

So far so good, Nexo seems to have a good system in place when it comes to protecting investors’ money.

We at P2P Empire like to look behind the marketing statements, which is why we conducted our due diligence about Nexo and their terms and conditions.

Is Nexo Safe?

Investments in crypto-backed loans are a rather new alternative, so many investors are suspicious of investments they have very little knowledge of.

This is mostly supported by the lack of transparency of providers within the cryptocurrency space.

Let’s have a look at Nexo.

Who leads the team?

Unfortunately, there is no team page on Nexo’s website; however, we could find some information about the owner and co-founder of Nexo during our quick Google search.

Kosta Kantchev is the legal owner and co-founder of Nexo. Nexo also confirmed that he is in charge of the daily operation of the company. Kosta is also the co-founder of Credissimo, the loan provider that helped shape Nexo’s P2P lending platform. Credissimo is also one of the financially stronger loan originators on the popular P2P lending marketplace Mintos.

What’s the relationship between Credissimo and Nexo?

As mentioned earlier, Credissimo is a larger loan operator in Europe. Since inception, the Credissimo Group financed loans worth €183 M. Credissimo’s financial reports are also regularly audited by Deloitte. Nexo is built based on the experiences of Credissimo’s activities and known as a completely separate legal entity.

Credissimo is mainly funding unsecured personal loans across five European countries. You can currently invest in those loans on Mintos, which grades Credissimo with a solid loan originator rating of A-.

Nexo is offering loans backed by crypto-assets to borrowers from all around the world.

Is Nexo regulated?

It’s also worth mentioning that Nexo is a licensed and regulated financial institution in the Republic of Estonia by the Ministry of Economic Affairs and Communications. You can find all of Nexo’s licenses here. Having a license as a financial institution is rather rare within the P2P lending sector, which increases the trust in Nexo’s services.

Note that those licenses don't allow Nexo to lend money. But more about this later.

Why is Nexo's website registered under Nexo Capital Inc with an address in the Cayman Islands?

We had a hard time finding Nexo’s address,as there was none listed on the website. We dug a bit deeper and found out that the website is registered in the Cayman Islands. We asked Nexo why this is the case, and here is their reply.

“We conducted our Token Sale from a Cayman Islands SPV. That was done for tax optimization reasons.”

We also found out that Nexo’s headquarters is registered at Veski tn 69 Tartu, Tartu Tartumaa, 50409 in Estonia.

Under what jurisdiction does Nexo operate?

Nexo Services OU operates under the Estonian jurisdiction. The Nexo Group has evolved substantially during the past year, but compliance with the relevant regulatory frameworks remains at the heart of everything that Nexo does.

According to Nexo, the company has very competent and well-seasoned in-house professionals in the legal and compliance departments (three Certified Anti-Money Laundering Specialists from ACAMS) that work with reputable law firms to build their risk models.

Nexo aims to get all the required licenses; however, the regulations are rather slow in the clarity on crypto business models.

Are there any suspicious terms and conditions?

Nexo’s terms and conditions differ from typical terms of other European P2P lending sites.

The website isn’t liable for any results arising from you using the platform.

nexo liability

We couldn’t find any information about amendments or how your funds are stored. The only information we’ve found out is that if you deposit Euros to your Nexo account, you’re sending your money to a bank account of the InCore Bank AG in Switzerland.

The Swiss financial regulator, FINMA, just approved the InCore Bank to offer a range of cryptocurrency services, including trading and custody. This is rather positive news as it helps increase the trust in Nexo’s partners.

Potential Red Flags

  • No information about Nexo’s management team

What’s our opinion on Nexo?

Nexo is very different from other P2P lending sites. It’s a platform for borrowers and lenders familiar with cryptocurrencies,that want to utilize their benefits.

During our research, we haven’t found much information apart from the lack of transparency, which is still unfortunately very common in the crypto-lending space.

We have criticized this already in our latest CoinLoan review, which is a direct competitor to Nexo.

We have reviewed several aspects of Nexo.

We like the fact that Nexo is collaborating with trusted partners from the financial sector.

Every new investor will need to pass Nexo’s AML standards. Nexo also claims that their reports are audited by Deloitte, even though we couldn’t get our hands on them.

Nexo’s interest account will earn you 10% annually while you have instant access to your funds.

Is this too good to be true? Read further.

The minimum deposit amount is currently set at €1,000.

While Nexo refers to several licenses on their website, Nexo didn’t address all of our questions.Their terms and conditions lack information about future amendments or how your funds are stored and managed.

Nexo also didn’t provide any links to their “financial license.” After we have conducted our due diligence, we found that Nexo or Credissimo isn’t licensed to provide loans to consumers in Estonia.

You can read more about the notice from the Estonian Financial Supervision Authority here.

This suggests that the information on Nexo’s website is misleading. We have decided not to invest any money on Nexo at the moment.

Usability of Nexo

Nexo’s platform is made for borrowers and lenders. You can use one account to deposit cryptocurrencies and lend fiat money or deposit your Euros and earn interest.


It’s nothing like using more traditional P2P lending sites such asEstateGuru or PeerBerry, where you can invest in individual loans.

It certainly takes some time to navigate and figure out how Nexo works.

After playing around for a while, you will notice that there are not many features available. The platform is here to allow lenders to lend money and borrowers to take a loan while depositing their cryptocurrencies as collateral.

How Fast Can You Withdraw Your Money?

Nexo promises to offer instant withdrawals for your investments. You don’t see individual loan agreements like on Mintos or PeerBerry as your investments are distributed amongst a basket of loans.

There’s no secondary market either.

Nexo works like a savings account. You simply request a withdrawal, and Nexo will send your money back.

We haven’t tested this feature, so we can’t tell to what extent this works.


We have been in touch with Nexo’s support and exchanged a few emails as there is a lot of information that isn’t published on Nexo’s website.

Unfortunately, after a few emails, the dialogue died, and we haven’t heard from Nexo since then.

If you have some questions, we highly encourage you to get in touch with Nexo via their live chat or send them an email. You can then decide for yourself whether the answer is trustworthy to you.

Nexo vs CoinLoan

If you have done some research about P2P lending platforms that offer crypto-backed loans, you might have heard about Coinloan.

Coinloan is another crypto P2P lending site, however, it works differently.

Here are the main differences between Nexo and Coinloan:

Average interest10%8%
Investment productsInterest accountInterest account, lending market
WithdrawalsInstantInstant or at the end of the loan term
Operating fromEstoniaEstonia
Year founded20182016
Max. LTV50%70%
Min. investment€1,000€100

As you can tell, both crypto lending sites have slightly different terms. What both P2P sites have in common is the lack of transparency. Both Nexo and Coinloan are somewhat secretive about their management and financial reports.

Nexo Review Summary

Nexo is a crypto-backed P2P lending site that offers you 10% interest on your deposits with the option to withdraw your money at any time. The company spent a fair amount of resources building a reputable platform, however, there are some misconceptions when it comes to their statements about licenses and regulations.We suggest that you do your own due diligence before investing any money on Nexo.

Key Takeaways from our Nexo Review:

  • Crypto-backed loans with an annual interest of 10%
  • Excellent liquidity
  • Transparency issues
  • Misleading information about Nexo’s license in Estonia

You should fully understand the ins and outs of your investments. Nexo failed to address all of our questions, which is why we suggest investing on more transparent and trustworthy P2P lending sites.

Company Information
Company:Nexo Services OÜ
Address:Veski tn 69 Tartu, Tartu Tartumaa, 50409 in Estonia
Live Chat:-
Opening Hours:not available
Social Media:Facebook, Twitter, Telegram, Reddit