Nexo delivers the The World’s First Instant Crypto-backed Loans, thus resolving a crucial inefficiency for the crypto world. Up to this very moment, no alternatives existed for digital asset owners to enjoy their crypto wealth except selling them. The innovative model of Nexo brings to the crypto community the best of both worlds - retaining 100% ownership of their digital assets while having immediate access to cash.

The Instant Crypto-backed Loans are an automatic, flexible and cost-efficient way of obtaining liquidity that is secured by the value of the client’s digital assets. The whole process is completed in just a few simple clicks. No hidden fees, no capital gains taxes, no credit checks. Transparency is guaranteed through the use of blockchain technology, smart contracts and algorithmic processes executed by the Nexo Oracle.

Due to SEC limitations and regulations (not Nexo's fault), there are some restrictions for US customers.

• You will not be able to exchange NEXO tokens themselves within the exchange. Other pairs yes, but no Nexo pairs can be exchanged.
• You can receive dividends, but paid in BTC not Nexo (Unless you're an accredited investor, then you can be paid in Nexo tokens). Update: Dividends are no longer paid out, as you now get daily interest on your Nexo tokens instead.
• It's pretty complicated to purchase Nexo (right now) for US customers.
• You can not receive the additional 2% bonus if choosing to get paid interest in Nexo tokens.
• New: If you are located in the state of New York, you won't be eligible to earn interest or use the exchange starting August 15th 2021, this is aparently temporary while they sort out licenses.

• (Non-US only)Using the NEXO Exchange within the app. Load up an asset by either transfering it to your Nexo wallet, or transfering via wire. Once you have funds, go into the exchange option, and swap said asset to NEXO tokens.
• Bitmart.com exchange.
• Changelly (Via the Nexo app, click on the banner on the homepage, at the top) [Note: very high fees/interest rate, but easy to use]
• (Non-US only) Huobi.com - Send USDT, BTC, ETH to your Huobi wallet, trade it for Nexo. If you complete KYC you get a $10 fee deduction on trades.
• (Non-US only) BitFinex
• Uniswap. You have to buy ETH first somewhere and then swap it to Nexo. Good solution for 4 figure exchanges and under, above that, there is too little liquidity.
• Buy BNB from Binance, use Binance DEX to convert BNB to Nexo.
• Hotbit.io exchange (very low liquidity)
• ChangeNow.io - Swap to NEXO
• CoinEx
• Bancor Nexo Pool
• QuickSwap

Nexo is powered by Credissimo, a leading FinTech Group serving millions of people across Europe for over 10 years. Credissimo has always operated under the highest regulatory requirements and strictest supervision by multiple European Banking and Financial Services Regulators. Now the same Team and its Board of Advisors, empowered by the ever-growing community of Nexo supporters and the enormous demand for the Instant Crypto-backed Loans, are unlocking the value of the digital assets in a rapidly expanding token economy that will alter the very fabric of a $5 trillion dollar market.

Nexo was founded by the Credissimo team who have been in business for over 10+ years and awarded as one of the top 100 Financial Tech companies in Europe.

They can't loan out without raising money, of course. So either they have to loan themselves with better terms, raise money through other means, or steadily process the loans facing a supply drought and customer loss. I could imagine that it would be technically legal for a certain % of the collateral to be sold, just like banks are not required to keep 100% of their customers cash in liquid form, but I have quite frankly no clue how this applies to nexo and crypto assets.

Since nexo is properly registered in the EU, and given the EU's tendency to protect customers rather than company's, Id honestly assume we would have a novelty court case over this issue, with the expected result that the collateral has to be given back out, if it is still available. But as it often happens in crypto, if the coins are sold illegally its hard to reverse that kind of damage, and its even more tough to access them if they were sent to another wallet. I do not really think that there is a reasonable possibility of this happening without nexo deliberately destroying their business/turning criminal, because of the nature of this business and the contracts, and I would assume that not turning criminal is a much, much more profitable strategy in the long run, because nexo is well positioned to assume dominance in this market for what we know so far.

(With people then realising their collateral is valued at less then the money they have to pay back, thus being incentivised towards defaulting rather than paying back to get their crypto.) If the collateral does not cover the loan due to falling prices, the loan agreement as far as I know will be automatically terminated, with the collateral held in the nexo account. The customer must either default through the prices not covering the loan amount, or with failure of payback itself, its not really possible that both the customer fails to pay back the money AND the collateral declines in value below the worth of the loan unless the market crashes so spectacularly that the collateral cannot be automatically sold. However the outcome is technically the same, nexo itself does not lose money if the client defaults (unless prices crash faster than nexo is able to sell, or the volume is gone, et cetera., which I think at this point is relatively unreasonable to assume.), and I think the "take a loan -> buy more crypto -> take more loans" scenario is incredibly unreasonable given that you can easily margin-trade with much higher leverage and less trouble than what nexo could loan out to you, so I dont assume loans are being taken for actual crypto investments, I rather think people believe in the collateral assuming value and see it as a locked up investment with extra short term utility

Lending is the most profitable crypto market segment. Businesses are now parking their idle cash with crypto lenders. This trickle will soon become a flood. Nexo is arguably the most profitable lender. NEXO made ~$20 mill profit last year, paying a $6mill dividend.

Considering that the founders of Nexo are some of the same people behind Credissimo an established successful award winning FinTech Group founded in 2007 which is still around gives gives me reassurance that my coins are somewhat safe. At the end of the day we're all taking a risk here. I'd be very surprised if Nexo just runs off with all our money in the process tainting all the work they've put in from Credissimo to here. It is poor that they haven't done much to reassure us that our crypto/money is as secure as they say but they have a track record that seems to speak for itself. Not many other defi platforms can do the same and we are seeing that almost every second day with the hacks occurring in the ecosystem.
There are actual people behind this thing that we can hold accountable. People who have Forbes articles written about them. People who have been on the news. I'm not saying it's still not possible for a security breach but again their track record seems to speak for itself.

In the unlikely event that Nexo goes under, yes, your money is gone. There is no insurance in the world that covers something like that I'm afraid. It's the same for Cel, CDC, or any wallet provider.. remember, not your keys not your crypto. There is always a risk.

Simple, they borrow your money for ~8% and they lend it out for ~11.9% (no loyalty, this used to be 24.9% but I guess they changed it because it made them look like loan-sharks).
The concept behind Nexo is to make Crypto as liquid as possible for clients. Instead of selling crypto you can temporarily supplement it for a small loan.
Their average loan is well above the 5.9% minimum and more people are using the service to borrow rather than lend.
They are profitable, but don't expect the stablecoin interest to remain at 8%-12% long term, it's to attract new customers! Just like Crypto.com did.
One thing to note, the business model is SOLID, but only in a stable or bullish market. If for some reason Crypto market tanks, then it COULD be an issue.

The Loan-to-Value (i.e. ~60% for BTC and ETH) is dynamically determined by the Nexo Oracle algorithms, depending on the current and historical volatility and market liquidity of the asset. If the assets decrease significantly in value and you do not contribute additional assets to your Nexo Wallet after receiving a warning from the Nexo Oracle, Nexo may initiate small liquidations to cover any insufficiency.
In simple terms, Nexo should have no issue dealing with market crashes (as previously proven by previous market dips), as everything is over-collateralized and secure.

The buyback has started, it seems like they are doing the buyback bit by bit instead of the full amount all at once. They purchase these tokens from the open market, where there is liquidity (Huobi for instance). You can check how many tokens have been bought back so far here: https://etherscan.io/address/0x1C433CBF4777e1f0dCe0374d79aaa8ecDC76B497#tokentxns

NEXO is definitely not a pyramid scheme, if it were, how is it functioning like one? I'm not buying anything from Nexo to sell or refer anyone else to use it.
Nexo could make their while licenses more transparent, but, the way I see it, once bank acquisition happens we will get the full details. Why? Because they have mentioned numerous times they don't want competitors to figure out what they are doing and copying them / getting ahead of them. So, if you're worried about that, I'd say maybe wait till q2/3 for the bank acquisition to happen.
I can't really give you more advice, just from my experience using it, talking to various team members at Nexo, and being in the Nexonians groups I haven't ever had a single doubt or worry that my assets were at risk. (Well no, sorry, apart from a few hours a few weeks ago when the mistaken automatic liquidations happened. As there was no official response for a few hours I got worried the repayment of assets could seriously hurt them, but they announced that Kraken was covering all costs for the f.. up so all is well).
Is it a perfect platform? Nope. It has it's flaws. Company-wise, communication could be a lot better and they keep saying it's something they are working on, and then they do something really silly without announcements and take 2 steps back in the communication part. As for the platform itself, I'd say things like address whitelisting, per-asset earn in kind or in nexo selection, credit card, and a bunch of other things are missing.
That being said. It's hands down the best platform for earning and taking out loans, period. Does it have the absolute best rates? No, especially compared to DeFi alternatives. But is the app 99% flawless, easy to use, intuitive? Yes!
Other CeFi lending/earning platforms have major downsides, or their platforms just suck to use. Want a loan from Celsius? That's a minimum of 6 months please. Oh and want to repay it or close it? Gotta email the support and wait ages for a response. In NEXO? 1 month minimum loan, loan comes out in 10 seconds (no joke, my recent usdc loan got credited in 8 seconds), and repayment is all instant within the app. No troubles or hassles.
Earning-wise, it's so much simpler to use as well. No blocking from withdrawals for 24 hours (blockfi), FIAT withdrawals are the fastest I've ever experienced ever. I sold some assets and requested the fiat bank withdrawal, it arrived in just a few hours. It's unreal.
I'd say, in essence, no, it's definitely not a pyramid scheme.

• Bank acquisition
• Prime brokerage
• Corporate API
• Crypto-backed CREDIT card
• Referral system EDIT: Added!

Yes: https://www.sec.gov/Archives/edgar/data/1732097/000173209718000004/xslFormDX01/primary_doc.xml

Nexo is registered and compliant with the SEC when they did their ICO (Initial Coin Offering), there is nothing to worry about.

Nexo use BitGo (https://www.bitgo.com/) as their cold storage provider. This includes a $100m policy that covers third-party hacks, theft, loss of keys, etc.
The safety of clients funds is the main priority for Nexo. Cold storage Wallets are provided by BitGo, the leader in digital asset financial services. BitGo Custody carries $100,000,000.00 in insurance protections through a syndicate of underwriters through the Lloyd's, the world’s specialist insurance and reinsurance market. And this premium service comes in at no additional cost (details can be found here and here).
The $100 million policy covers digital assets where the private keys are held 100% by BitGo in the event of:

• Third-party hacks, copying, or theft of private keys
• Insider theft or dishonest acts by BitGo employees or executives
• Loss of keys

Nexo has chosen BitGo as its custodian because BitGo provides 100% cold storage technology in bank-grade Class III vaults and the BitGo platform is SOC 2 Type 2 certified. Advanced authentication mechanisms are employed to ensure the authenticity of data, and assets are distributed geographically and organisationally.
It is the account holders’ responsibility to safeguard their accounts by means including but not limited to using a strong password, enabling two-factor authentication and controlling all login credentials to Nexo. Clients remain owners of the crypto assets placed into Nexo accounts.

Nexo recently partnered with Ledger, bumping up Nexo's total insurance portfolio to 375.000.000 USD. The Vault insures digital assets for up to $150 million through a customized insurance program backed by Arch and Marsh. This upgrade is a part of Nexo’s broader plan to increase our insurance to over $1B in 2021 via a syndicate of leading insurers (details can be found here: https://nexo.io/blog/nexo-security-infrastructure-grows-with-ledger-vault-partnership).

Source: Nexo Security And Insurance

They don't keep the all of their assets in the one wallet.
Their custodian, BitGo, keeps funds in many smaller wallets - the likelihood of all those wallets being hacked at the same time is something approaching zero.

In the latest AMA, they announced the bank acquisition/license should be around the corner, estimating q2/3 for EU license, and end of year 2021 for US license.

Nexo’s information security management system (ISMS) has been successfully audited by CISQ, a member of IQNet and the world’s largest provider of management system certification, and by RINA, who have decades of experience in certifications, ensuing in an ISO/IEC 27001 compliance certificate. This guarantees that Nexo's security infrastructure is of the highest standard and carries minimal risk to clients and investors thanks to rigorous security policies, impeccable risk assessment, data protection, and state-of-the-art cybersecurity.
Nexo’s ISO/IEC 27001 certificate was issued to it's Estonian entity, the subject of this certification is Nexo’s information security management system, rather than a specific registered entity. As such, it is irrelevant which Nexo entity the certificate was granted to.
Please also note that information provided on www.nexo.io is valid for all Nexo services and operations, as the aggregate of companies within the Nexo group. These include entities registered across the globe, all of which are fully compliant with local regulations.

Source: Nexo’s Security Infrastructure Is Now ISO/IEC 27001:2013 Certified

Edit: Nexo have released a custom page for licenses directly on their website, link below:

Source: Licenses & Registrations

While there have been no public audits of Nexo's financials, in a recent interview, Antoni mentioned that an audit is currently undergoing and will be released in the near future.

I’m unaware of the specific regulations this question addresses, but we are registered with FinTrack – the Canadian authority we answer to. So we are compliant, we have explained our model to the regulators and they have signed off on it. If something came out very very recently, I am unaware of it, but that’s why we have our brilliant legal team. They’re probably working to figure out what more we need to comply with – we are the type of company that complies, we’re not some wild cowboys that just hope to slip by regulations.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

You get your first interest payout the day AFTER you deposit. This is normal, to avoid people cheating the system.

It may not be clearly explained within the app, but in order to get the full potential for rates, you need to max your loyalty level as well as get paid in Nexo. Depending on how much NEXO is part of your portfolio, your loyalty level changes, so to achieve Platinum, you must have at least 10% of your crypto portolfio in NEXO. The bonuses for each level are as follows:

• Base = 4% on Crypto and FIAT, 8% on Stablecoins
Silver (1-5%) = 4.25% on Crypto and FIAT, 8.25% on Stablecoins
• Gold (5-10%) = 4.5% on Crypto, 5% on FIAT, 9% on Stablecoins
• Platinum (>10%) = 5% on Crypto, 6% on FIAT, 10% on Stablecoins

Crypto = BTC, Ethereum, etc.
Stablecoins = USDC, Tether, etc.
Fiat = EUR, GBP, USD, with CAD and AUD possibly coming soon.
FIAT gets converted to their equivalent stable coin after depositing! (EURx, USDx, GBPx)
All % are PER YEAR NOT DAILY OR MONTHLY.
Remember, you get paid 2% extra if you decide to receive interest in NEXO and not in-kind (same asset, so BTC to BTC for instance). This bonus is not available for US customers.

Source: Earn on Crypto

Assuming you have 1 BTC in your Savings Wallet on NEXO, you would accumulate 4% per year if you do not hold any Nexo as well. 5% if you hold 10% worth of a BTC as Nexo in your account.
And additionally 2% more if you choose to receive the interest in Nexo and not BTC, so then it would be 6 or 7%, but this is not available for US customers.

Just like pretty much everything in this world, interest is shown PER YEAR. This means, you get 6% per year, not per day. ANY company, regardless if it's crypto or not, that tells you you can even make 1% back per day, is a ponzi / scam (unsustainable business).

Example: BTC interest is 5% in-kind and 7% in NEXO.
If you want to earn in NEXO you will get (0.07/365)*100 = ~0.019% per day, or 7% APR.
BTC and NEXO are both appreciating assets, you are free to pick which one you think will give you a better return in the future.

The daily interest rate you receive for the like-kind reward already takes into account the fact it compounds to end with the stated annual interest rate. The interest rate you see for like-kind reward only is achieved if you keep it for 365 days. If you keep it for a lesser time, you actually get a lower interest rate.

You do not get interest on NEXO token assets you hold in NEXO. Instead, you get dividends. Nexo give out 30% of their profits back to their customers that hold nexo tokens. Read this article (https://medium.com/nexo/nexo-dividends-explained-6636804db3a) for more information.
Edit: This question is no longer relevant. Nexo tokens now earn daily interest as dividends were voted out after the governance vote.

Source: Governance Results: Daily Interest on NEXO Tokens Is Live

NO, it's not necesary! Unlike, CDC Crypto.com where you need to lock in assets to actually get a good rate, you do not need to lock in your assets with Nexo, you can withdraw them at any time. In Nexo, you CAN set up fixed terms/locking up for an additional % on Crypto and FIAT assets, Stablecoins get max interest without the need for locking them in fixed terms.

Any assets in your Credit wallet do not get any interest, so you can not borrow 0.5BTC with 1BTC as collateral and make interest on the 1BTC at the same time. The only asset that makes % while being in the Credit wallet is Nexo tokens, where you get daily interest of 7% regardless of which wallet the tokens are in.

What Are Fixed Terms?

Note: Please be aware that Earn in NEXO is currently not available to US citizens and residents due to regulatory restrictions.

The new Fixed Terms functionality allows you to earn our highest savings yields – 8% on crypto and 12% on fiat – if you choose to create a term on your cryptocurrencies and fiat for 1 and 3 months, respectively. The exact fixed-term yields you earn depend on whether you receive your interest in kind or in NEXO Tokens, as well as on your Loyalty tier. Fixed Terms are not yet available for stablecoins, but we plan on making the addition in the near future as we continue to enhance our product line-up.

The former Earn offering across crypto, fiat, and stablecoins, which lets you withdraw funds at any time and brings you a unique daily payout, is now called FLEX Terms.

1. Percentage applicable to one-month term deposits:

2. Percentage applicable to three-months term deposits:

 

How Do Fixed Terms Work?

When you choose to create a Fixed Term, your interest compounds daily, like with FLEX Terms. As for the payout, regardless of whether in kind or in NEXO, you will receive all your interest earned for the duration of the term in a single payout at the end of the period.

Below is an illustrative example of how your Bitcoin savings account would look when you simultaneously use FLEX and Fixed Terms:

 

Where can I see how much interest I have accumulated on my term deposit?

Please navigate to your FIXED TERM deposit by clicking on the "Managed wallets":

after that, please click on the "Fixed Terms" link:

and you will be able to see how much interest was accumulated on your active Fixed Terms until now. If you changed the option of earning interest between "in-kind" and "NEXO Tokens" you will see both interests as seen below:

 

What Are the Benefits of Fixed Terms?

As the crypto space becomes increasingly long term-focused, there is a pressing need for financial products that guarantee a stable stream of income. Fixed Terms provide just that, along with:

• Diversification

Combine Fixed Terms’ stable, high-yield returns for your mid- and long-term goals with FLEX Terms’ daily interest payouts and flexibility to withdraw funds at any time.

• Flexible HODLing

You can have 10 simultaneous Fixed Terms per asset, which means you never miss an opportunity to buy and add more assets to your Nexo Wallet to earn our highest yields.

• Extended Yield

By enabling “Automatic Renewal”, you can effortlessly rollover your initial Fixed Terms balance for an additional period of one or three months.

• Industry-leading Rates

Fixed Terms savings yields far outshine those of traditional banks and crypto lenders that offer interest-bearing accounts. Thus, we ensure you get the most bang for your buck.

 

Fixed Terms balances:

• Must be held to the end of the fixed term
• Are protected against liquidation while the term lasts
• Cannot be used as collateral and loan repayments during the term
• Cannot be withdrawn until the term is over. Fixed terms can only be cancelled by Customer Support upon request. However, in case of cancellation the interest to be paid out at the end of the term is lost.

 

Why Fixed Terms?

With the majority of clients – at 72% – claiming they are planning to HODL their digital assets for three or more years in a recent survey, there is increasing evidence that the crypto space is evolving towards a more mature, long term-focused industry.

By Nexo's very nature, they are an enabler of this strategy because they allow you to keep your cryptocurrencies and earn high-yield passive income and take out a credit line against them without selling. In doing so, you keep the upside potential of your assets, you generate additional income, and you can finance any purchase that requires access to fiat currencies.

Longer-term investments ensure the stability of the entire market. By entrusting your assets to Nexo and their top-tier custodians that carry $375M in insurance protections, you are ensuring the resilience of your portfolio and helping Nexo build the bank of the future.

Source: Nexo Term Deposits - Explained

Currently, you can not manually unlock terms via the app. You can contact support and they will be able to close the term but you lose all accrued interest. Furthermore, you can enable the new Unlock Fixed Terms option in your settings if you have an active loan on Nexo, this will allow the Oracle/System to unlock the fixed term automatically if your loan health drops to liquidation levels (to prevent liquidation!).

They are going to have different terms, but right now they will have 1/3, and 6/12/18 months rolling out soon. No plans to let user decide how many months they want to lock their assets up.

Currently, you can create up to 10 fixed terms per asset.

On the 6th April 2021, Nexo announced they entered Beta-testing for USD integration.
Testing should be done & dusted in no time, so expect USD top-ups, credit line repayments & exchange pairs really soon!
Update: USD earning is now enabled.

Source: Our Direct USD On-Ramp Is Here with a Big Promo

Very soon! One license about to be secured which allows them to do exactly that. Third party payments coming very soon, and vice-versa, third party deposits (Then you can leave your old bank!)

Dividends were replaced with Daily Interest after a governance vote. You now earn up to 12% APY on your Nexo tokens and you earn 7% on your Nexo tokens held in collateral.

Source: Daily Interest on NEXO and a Final Dividend

To "reward" loyal customers who support the project and Nexo token itself, Nexo have decided to do (yearly*) dividends, this means they give 30% of the benefits (profits) the company earned since the last dividend back to the nexo holders. Based on how many tokens you have and knowing there is currently a fixed supply of 560 millions tokens you can calculate what % you should get. Furthermore, they have an extra "bonus" for those who have held onto the tokens for a long time. This bonus is small, but it helps differentiate those who are holders and those who purchase nexo tokens before a dividend to cash in. Read the question below about frequency.

So far, dividends have been yearly, in August. There have been mentions from Nexo that they'd like to do it more regularly. As any business/stock that do dividends, the price of the token/stock decreases drastically after dividend payout. Do not be alarmed.

Yes, but paid out in BTC. You can receive it in NEXO as well, but you must be an accredited investor. Read this https://nexo.io/blog/get-20-more-with-nexo-s-bonus-dividend

Yes, advanced verification is necessary.

NEXO Tokens must be held/staked in your Nexo account (doesn't matter if it's in the Credit or Savings Wallet) at the ex-dividend date. The ex-dividend date will be communicated in advance.

While Nexo was officially the first Crypto-backed lender in the market, there are now quite a few alternatives.

• BlockFi
• Crypto.com
• Ledn
• Swissborg
• Celsius
• And a bunch of DeFi (Decentralized finance) options as well.

While it is my opinion, I would HIGHLY advise against using Celsius. Here are a few reasons why CEL is not trustworthy:
No automatic liquidations. If the crypto market tanks, they are royally f'd. Nobody will pay back their loans. Collateral will be worthless (at that moment in time in the market).
Offering OTC discount with only 30 days lockup period. Selling stock at a discount is illegal for a reason. But we are dealing with crypto, okay, it's different. But imagine this. Tesla tells you, buy shares at 10% discount. You can sell them next month for normal price. How is that sustainable? It's not! They are desperate for cash.
Cel refuse to contact cointracking sites to update their market cap. (It's approx 1-2B wrong, less, on most if not all tracking sites). Why won't they do it? Because people would see how overvalued their token is at this moment in time.
A CEO that constantly talks shit about other companies like a 12 year old on twitter, great sign.
2B "Reserves" they claim to have (also as "insurance") a large portion is in CEL TOKENS. Good luck selling them when cel token dumps...
Take the recent minimum loan withdrawal increase that Nexo implemented a few weeks back. 5k for stablecoins and $500 for fiat. Gas fees are crazy so it makes sense. What did CEL do? They kept stablecoin minimum the same, but increased FIAT withdrawals to $10k.. Does that make any sense to you?? If that doesn't prove that they don't have cash (USD, EUR, GPB) then I don't know how else to put it to you.
They lost $34m in their last yearly financial report. They had to sell equity lat year to raise money to stay afloat. Source, official UK government company information: https://find-and-update.company-information.service.gov.uk/company/11198050/filing-history/MzI5MjgyOTQwM2FkaXF6a2N4/document?format=pdf&download=0

https://blockscompare.com/

BTC, ETH, XRP, LTC, XLM, BCH, EOS, LINK, TRX, stablecoins, PAXG, NEXO and BNB. https://support.nexo.io/hc/en-us/articles/360008240993-What-coins-are-accepted-as-collateral-

Collateral is crypto assets you would put up for a loan (if you don't repay they will sell it to cover the default). You do not earn interest on crypto that you use as collateral. If you are not borrowing from Nexo then your funds are held in a "savings wallet" where it can earn interest until it is either moved off the platform or used as collateral on a loan.
Nexo tokens do not earn interest the same way as other tokens, but do provide dividends from the profits of the company.

A Loan-to-Value (LTV) ratio is an indicator representing the size of a loan compared to the value of the assets securing the loan.
The Loan-to-Value percentages of each asset are dynamically determined by the Nexo blockchain oracle algorithms, depending on the current and historical volatility and market liquidity of the asset.

Source: Loan-to-Value (LTV) Explained

All loans taken out have a minimum of 30 days interest, this means, if you decide to close/repay your loan before the first month is up, you are paying the entire month in full.
That is why it is advised to just keep the loan active regardless if you inititally wanted to pay within let's say, 7 days, because you'd be losing "assets".

As for how long a loan can be active for, there is no minimum. After 1 year, the "contract" automatically renews. You can repay/close the loan at any time.

No! There are no uncollateralized loans in Nexo, this is what differentiates them to mostly everybody, definitely the more known competitors of Nexo. Nexo does not engaged in un-collateralized loans and do not plan to do them in the near future.
The portfolio booster is used by a very small % of clients, very very large clients, ultra high net worth individuals and institutions. There is more than 100% collateral, it's just a matter of the execution, where Nexo buys the client something. It has nothing to do with uncollateralized lending at all.
That's the point, having collateral so they don't have to do credit ratings, etc.

Nothing, it just adds to your existing loan. Please be aware THIS RESETS YOUR 30 DAY MINIMUM LOAN FOR THE WHOLE LOAN AMOUNT. For example, if you took out a loan for $5000 2 months ago, but took out $500 more yesterday, if you try to pay back today, you'll be paying 29 days interest on a loan of $5000, not just the $500. It's important you keep this in mind.

We do not know, it is decided by the Nexo system automatically. There is no option to decide which assets to move first, at this moment in time.

In case of a decrease of your collateral asset value, a warning would be sent to the client that they should deposit more crypto assets to their Nexo Wallet to prevent liquidation. Please note Nexo will not liquidate all crypto assets at once - liquidations are made in small increments only as much as to rebalance the Loan-to-Value back within the limits.
You will receive a total of 3 notifications before any automatic repayments occur and each notification is sent both by email and by SMS to the email and mobile phone number associated with your Nexo account. Unlike margin brokers, Nexo do not have any interest to see your asset being automatically sold to repay the loan, in fact - quite the opposite, Nexo make money only when you have an active loan with them.
You are not required to post any margin after receiving these notifications, they are more like reminders that if your assets drop further, partial or full automatic repayment can occur.
As you know, unlike traditional financial markets, the crypto market never closes, thus Nexo cannot postpone automatic partial repayments as the outstanding balance will be less than the collateral and the borrower will have zero motivation to repay the difference.

You can repay your loan in a currency of your choosing. It doesn’t have to be paid back in the same currency you withdrew. For example, if you withdraw Tether against Bitcoin as collateral, your repayment doesn’t have to be in Tether, you can pay off your credit with a bunch of different assets. You can also sell off a portion of your collateral to repay your loan. Thirdly, you can do nothing and if there is a larger correction, the platform will liquidate the necessary amount of collateral automatically.

Everything with Nexo is dynamic. There is no loan maturity in the traditional sense, we have to have maturity dates in the terms and conditions because of various compliance requirements, but the loans get extended automatically upon maturity unless you pay them off. If you never fall below the required LTV for your particular asset class, you don’t need to take any action, you will simply continue accruing interest on your credit until you decide to repay it.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

If you want to take a loan against stablecoins, you will have to cover at least 50% of your loan using other crypto assets as collateral (BTC, ETH, etc.).

On June the 3rd, 2021, Nexo added the ability to swap collateral.

Source: Introducing: Collateral Exchange Option for Our Instant Crypto Credit Lines

There are no official announcements yet, but all we know that is it currently in a private beta. A select few European (non UK) customers have been given cards to test the upcoming platform.

The Nexo exchange has been released to the public. It let's users swap or exchange assets (called pairs). So, for example, you can exchange Bitcoin BTC to Tether USDT or vice-versa.

According to Nexo: There is no concept of hidden fees. They pioneered the 0-fee policy. They are very transparent of all charges they make. The hidden fee is referring to Spread. Has to do with bid/ask on exchanges (do not forget, the Nexo Exchange takes the best available price from numerous third party exchanges to give you the best rate at the time), this spread is not something that Nexo determines.

The NEXO Token is the world’s first compliant, interest-bearing token, featuring the following benefits:

1. To learn more about Interest Discount please read this article.
2. To learn more about Bonus Yields please read this article.
3. To learn more about Free withdrawals please read this article.
4. You can also earn up to 12% annual interest on your NEXO (including the collateralized tokens) paid out daily. 

Source: What is NEXO Token and what are benefits of owning NEXO Token?

Yes, you will receive dividends on all NEXO Tokens held in your Nexo account. To learn more about Nexo dividends: https://medium.com/nexo/nexo-dividends-explained-6636804db3a. In other words - it does not matter in which wallet Credit Line or Savings you hold your NEXO Tokens.

Nexo pays 30% of its Net Profit in the form of dividends.

Dividends are available to all NEXO Token holders, regardless of how many tokens they own and in which wallet Credit or Savings they are held, as long as two conditions are met:

1. NEXO Token holders must undergo one-time KYC (Advanced Verification), just as they would do at any other compliant digital assets institution. Nexo’s KYC process is straightforward, fully automated and usually takes less than two minutes;
2. NEXO Tokens must be held/staked in your Nexo account (Credit or Savings Wallet) at the ex-dividend date. The ex-dividend date will be communicated in advance.

The latest official information about dividend payments has been carefully explained here.

You can find it here: https://etherscan.io/address/0xb62132e35a6c13ee1ee0f84dc5d40bad8d815206
Address: 0xb62132e35a6c13ee1ee0f84dc5d40bad8d815206
Symbol: NEXO
Decimals: 18

Source: What is the smart contract address, token symbol and decimals?

The NEXO Governance Vote will give you a say on key decisions for every NEXO Token you hold. Governance for a Blockchain usually means a system for managing and implementing changes to said blockchain. For instance, a governance vote could be held on what users believe is more important for the dev team to work on, things like that. It gives extra utility to holding the Nexo Token, as each Nexo token has a "vote", which means, the more Nexo tokens you hold, the more your overall vote towards the poll counts.

June 7th 2021 was the first vote: Daily Interest on NEXO and a Final Dividend

OTC stands for Over-the-counter, which is often referred to platforms for large investors where they can directly purchase assets (or tokens) from a company without having to use an exchange or third party platform. Nexo has an OTC program, read more here.

YES! They do not make any exceptions for instituional investors. They do not get to borrow money without collateral, unlike what some of Nexo's competitors do, which is incredibly risky and could cause huge problems if the market does a deep dive.

• OTC services: Trading, Lending, Borrowing
• Fiat currencies: USD, EUR, GBP
• Crypto assets: BTC, ETH, XRP, LTC, BNB, XLM
• Stablecoins: USDT, TUSD, USDC, PAX, DAI
• Insurance: $100 million provided by BitGo through Lloyd’s of London

Source: Nexo Launches OTC Trading, Borrowing and Lending Desk

• Minimum transaction: $100,000
• KYC requirements: Nexo Wallet with ‘Advanced Verification’ level

Source: Nexo Launches OTC Trading, Borrowing and Lending Desk

Nexologist.com
Nexostatistics.com
Hodlfire spreadsheet/calculator

Liquidations: NEXO: Why liquidations are needed.
Nexo Help Center: Nexo Official Help Center
Whitepaper: Whitepaper

Official Telegram: nexofinance
NEXOnians: nexonians
NEXOnews: nexonews
NEXOstatistics: nexostatistics

No. There are currently no aidrops. If you get contacted via Facebook, Twitter, Telegram or anywhere else, it's a scam. The only "giveaway" that is currently running is the fact that you can win 100k Nexo tokens for voting for which coin should be added next to the platform (You can do this via the app, on the home screen, scroll the top banners to the right until you find the one about voting.)
Edit: They occasionaly do community giveaways now, but that is ALWAYS announced on Nexo.io site.

Generally, it takes about 2 business days, although lately with the increase of users signing up it can take a big longer. If you don't hear back after a week I'd suggest contacting their support.

One tip is to go on their website, open the live chat and type in "speak with human" "talk to agent" "human" to get transferred to a real person.

Yes, withdrawals are completely free, although deposits depend on which exchange you use to send your assets to Nexo with.
Edit: Recently, Nexo introduced limits to free withdrawals due to high gas/transfer fees. This depends on your loyalty bonus.

• Base: 1
• Silver: 2
• Gold: 3
• Platinum: 5

Above figures are PER MONTH, reset on the 1st.

You must take into account that you have TWO wallets per asset within the Nexo platform. One for SAVINGS, which will give you interest on any assets you hold in it, and one for CREDIT which is basically your collateral, which you use for taking out crypto-backed loans.

No, you can not get $ or bonus for referring other users right now. The only thing you can do is share a link to the CARD page, to increase your position in the waiting list. Edit: Yes, Nexo now has a referral system: Link

Source: The Referral Program

Usually around 12:00AM UTC, daily!

• BTC deposit require a minimum of 6 confirmations
• All ERC20 deposits (ETH, PAXG, NEXO, USDT, TUSD, USDC, PAX, DAI) require 50 confirmations
• LINK deposits require 40 confirmations
• XRP (Ripple), XLM (Stellar), BNB, NEXO BEP2 and EOS - near-instant
• BCH deposit requires 16 confirmations
• LTC deposit requires 6 confirmations
• TRX (Tron) deposit requires 20 confirmations

Source: Processing time of cryptocurrency deposits (blockchain confirmations)

It's very unlikely, because they are considered competitors. Furthermore, Nexo token is very clearly a security, based of the dividend payments and now the buyback program, these big exchanges aren't licensed to deal in securities, hence they will not list Nexo.

No, Nexo is not self hosted. BitGo is their custodian.

Not regularly at all.

Antoni has said: Community has to want it. Have to have a substantial market cap. Trading team has to examine the asset in regards to it's liquidity. This is a serious process. Not necessarily 24h market volume, it has to be absolutely certain that the liquidity would be enough and sufficient over extended period of times. That's why they release it slower compared to competitors. Safety, security above wreck-less behavior.

There is a fixed circulating supply of Nexo, the remainder the Team have said are locked until TBA.
So there isn't a dilution, as there are no new Nexo created - the dividend paid in Nexo needs to be bought from existing circulating supply by the company in order to be paid to holders.

Sadly, not really. Most whales hold their tokens on the app, with Nexo, for dividends daily interest, for using as collateral, etc. There is not official/public list of top-token holders.

Sadly not right now, only on the web-app.

Antoni has in numerous occasions stated that the tokenholders will be taken care of if they ever go public, which is not something they plan on doing anytime soon anyway.

Minimum fiat deposits limits are not imposed by Nexo but by their partners. They are looking to lower it. As soon as banking acquisition happens, Nexo can change this.

Nexo was relocating to London, but due to COVID they have postponed the move. Large part of team works remotely, most in Bulgaria. Current head office is Sofia, Bulgaria.

Not currently, but coming soon.

NO! The rates will not drop after getting a bank license. At least for the foreseeable future. As long as it makes economic sense for Nexo as a company. Also protecting your interests.
Rates are not randomly selected. Market forces that are playing out and determining the rates. Antoni doesn't view the bank license affecting the rates.
Rates should not have a great impact within the next 3 years.
As for insurance, can not go into details right now. In general, banking license would have a very very good effect on insurance.
Banking license will also let them advertise or bring in new customers who are not knowledgeable of the crypto-space.

Nexo's rates are determined by market forces – supply and demand. They are not a greedy bunch, They go as high as They possibly can, but They want to generate yields on their platform sustainably. Nexo does not burn venture capital funds to offer attractive yields for user acquisition. Instead, They offer yields that are sustainable given the current market conditions and forces. While Nexo's rates have been quite stable over the last few years, they are never guaranteed and can change depending on the current market.

Antoni said:

I don’t have a strict deadline for it, but it will definitely be this quarter. There will be an address book and an option to whitelist addresses. Safety is always a tricky subject, but I think we’ve done a better job than most blockchain companies. Unlike others, we’ve never been hacked even without whitelists, so we’ve done a pretty good job.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

Antoni said:

We are always looking to onboard new collateral options and add more assets to our Earn suite. It’s a matter of liquidity and market cap for each new asset. We used to make sure assets had a market cap of $1B before but now that’s a pretty low threshold since most of the top 100 coins currently already have a market cap of over $1B. We also need to ensure an asset has sufficient liquidity for us to be able to issue our price-based margin calls during volatile times. Assessing an asset’s liquidity is actually quite complicated and we have a specialized team that tracks assets and determines whether there is enough liquidity for us to be able to integrate them on Nexo.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

We are working on auditing our financials so they will soon be publicly accessible and even more detailed and eloquent. Bear with us a little longer, we are in the process of doing this and our accountants are working hard going through millions of crypto-based transactions.
We’ve embarked on a mission to provide more transparency because it was a concern for our users, one that we’re addressing. That’s also why I’ve committed to monthly AMAs like this one, to make sure we’re keeping our community in the loop. So bear with us, we’re on the right track, the road to full transparency is a long one.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

That’s in the pipeline, I don’t have a strict deadline, but we have had two-factor authentication on the platform for a long time now. As for YubiKey, honestly, I don’t know, we’ll see, perhaps soon.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

It is definitely coming this quarter. We want to make sure we run all our tests right for the voting, and for different proposals, making sure we can actually implement the suggested changes. We don’t want people to vote for something that we later realize we can’t actually implement, so we want to be realistic about what we vote on and make sure everything checks out before we launch the official Governance Vote.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

The affiliate program is set for this quarter. It has been pending for a while. People sometimes have this antagonistic view of Nexo as if we’re holding back or not working hard enough to bring these features on time, but ultimately these are all products that bring in new business for the company and we just have to prioritize and – since we’re dealing with people’s funds and transactions on the blockchain are irreversible – be extra careful about the software we put out. That’s why some things are taking a little longer.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

Well, 1000 is not a very high number in my opinion. It’s not imposed by Nexo as such. This minimum is imposed by our banking partners. Unfortunately, we are still reliant on banks, so this is one of the things that we will be able to resolve quicker once we get our banking license. But I don’t have a deadline right now. Overall, we recently raised some of the minimum requirements because of transaction fees on Ethereum. I hope this is a temporary solution while Ethereum figure it out.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

We, as a team, have not sold our tokens. We haven’t even touched them despite the sensational rise in our token’s value, they haven’t been moved from the smart contract – this is publicly visible. I think that speaks volumes about our conviction in our company's success. We don’t need to sell them and we don’t intend to sell them in the future.
We are in a position to finance our business through different mechanisms that allow us to grow the enterprise organically. It’s no secret that in the token terms we have company tokens that are meant as strategic reserves, but with the current dynamics of the business and the markets, we don’t need to use them.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

This is not part of our core business so it’s not in the immediate pipeline. We have been talking about allocating some funds to doing something like what Binance does, where we help companies launch. But this is not a fact yet and it’s not a priority for us right now. What is currently a very high priority at Nexo is education for financial literacy. It’s an initiative that we are working on and the community is going to see more of that very soon.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

That’s a good suggestion but it has some challenges when it comes to implementation. When things turn sour in the crypto space and prices start dropping, liquidity dries up extremely quickly which means we can’t guarantee we’ll be able to execute stop-losses on time. Essentially if an asset pierces through the stop-loss price too fast somebody will have to cover the extra losses and Nexo is not in a position to do this, neither do we want to pass on such costs to our clients.
However, we have been piloting products with different options and option strategies that come close to this with some of our institutional clients. To implement this for retail clients might take a long time and a lot more liquidity for us to be able to offer a product that works and makes sense.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

A lot. We operate in 200+ jurisdictions, so for every major one, there’s a law firm we work with. Our internal team is close to 20 people, but the overall number of lawyers is probably in the hundreds.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

If we were to go public, we are very aware that we have responsibilities to the NEXO Token holders and we will definitely take care of them should we ever decide to take this important step with Nexo.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

If we mean the NEXO Token here, then I see it at double digits in the next five to 10 years. I can’t say exactly how high it will go, but I think we have substantial potential. It all depends on market conditions. If Bitcoin were to go back down to $20,000, it would drag everything else down with it. I don’t see much chance of that happening, but it is a possibility. As a company, I see us growing in a couple of directions. The space will grow, but what it means to be a blockchain company will also expand. So we’ll grow both because the space will grow and because the technology we work with will become more present in day-to-day life. I see us becoming more and more compliant because we will have our banking license. The team will also grow and that will yield more potential for the company. We’re close to 200 people now. It’s a growth story all around.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

This is really not my area of expertise, I would have to talk to the dev guys. But again this would take a lot of resources and if we do it, it would have to be for larger balances.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

Right now you can withdraw to a bank account, but full integrations with particular banks are further along in the future.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

We’re working on a solution that will allow clients to do that even without a banking license. We may be at the very end of the banking license acquisition process, but we’re still looking for alternative ways to offer this functionality just in case something doesn’t come through.

Source: Antoni Talks Nexo with Scott Melker, The Wolf of All Streets

It seems like there is a bug on the platform, where it gives you an error when trying to exchange, sell or withdraw the 'maximum' amount of an asset. For example, if you have 1.6815 BTC and you want to swap that for USDT, try exchanging 1.68 instead 1.6815 as there seems to be a rounding error.

Check out link below:

Source: Missing or incorrect Destination TAG (XRP) or MEMO (XLM - Stellar, BNB, EOS and Nexo BEP2)

I love to see engagement from the XRP community. We have a positive development for them that will be announced soon, so stay tuned. Now, about the airdrops, our team is leading discussions with Flare about how to best protect the interest of XRP holders. We will update you as soon as we know what the outcome of our talks with Flare is.

Source: July’s Ask-Antoni-Anything Recapped

We haven’t slowed down on the “feature adding”. The team is still getting larger and larger which means we can engage in even more tasks and developments. This is Nexo’s main revenue driver so we’re never going to stop pushing ahead in terms of new features.
The investments we’ve made are in projects where we either don’t already have the expertise they have in a certain field or where we feel that another company is ahead of us. It makes sense to invest in such projects even just from a capital gains perspective. Despite the market downturn, in the last two months, we have seen $4 billion pour into crypto startups, so we want to be a part of that. It’s nothing gargantuan given Nexo’s total balance sheet. 95% of all startups fail so we are prepared for something like this when managing our own corporate funds. But we do feel that there are a lot of opportunities apart from the capital gains benefits, such as gaining access to certain products so that we can quickly bring certain services and offerings into production that might otherwise take us longer.
For Nexo users, this means that you get to enjoy products and services that come into fruition quicker.

Source: July’s Ask-Antoni-Anything Recapped

Unlocking Fixed Terms defeats the purpose of locking assets, even if there is a small fee since Nexo relies on the liquidity in these locked accounts for our other products. But we will look into this going forward and see what we can do.
We do however have the Unlock Fixed Terms option. It’s a new feature that complements our Automatic Collateral Transfer. When switched on, it can automatically unlock your Fixed Term accounts if you have an open credit line and your LTV drops below the required percentage, thus protecting you from liquidations. For now, we have this feature and we are looking into further alternatives.

Source: July’s Ask-Antoni-Anything Recapped

This is definitely a point focus due to BlockFi being under scrutiny in the United States, the continued Тether FUD, and even the crackdown against Binance. To briefly explain what’s going on: Now that crypto has grown to the size that it has, there will be regulatory interest. Now, this is something we at Nexo anticipated from the start and we’ve been actively engaging with regulators in different jurisdictions.
In general, sometimes regulators look into things – this doesn’t necessarily mean that something bad is happening or has been happening. It’s up to us as a community how we digest this news, and it’s up to the media how they wish to frame it. We have had inquiries by regulators at Nexo and so far all the cases have been closed with our services being found compliant to the regulators’ satisfaction.
As for the specific situation with BlockFi, our Earn product has a very similar offering to their interest-bearing accounts. I don’t have enough insight into exactly what their internal structure is and it may or may not be the same as ours. BlockFi themselves have stated that they believe the state regulators are wrong and that their offering does not represent a security – this is one of the allegations. It is still too early to know for sure what the crackdown on BlockFi means for Nexo since not enough of the details are public, but we will be on the lookout for what evidence BlockFi produces to counter the allegations against them and, since all our products are created and maintained in part by our expert legal teams, we will be responding to developments accordingly.
One thing in which Nexo differs from BlockFi and other competitors is that they have 80-90% of their business in the US. Whereas Nexo is based in Europe and we have a far more diverse global geographical presence. The US is a far smaller part of our business than it is for BlockFi. So regardless of what the watchdogs in the United States decide on a state and federal level, I think Nexo will be significantly less affected than our competitors who have the majority of their clients in the States.
Ultimately, we as entrepreneurs and founders of Nexo are happy that the regulators are paying attention to cryptocurrencies since we will finally have clearer rules for our industry.

Source: July’s Ask-Antoni-Anything Recapped

This seems like a simple feature, but it’s quite complicated to make this happen on the backend. It’s very heavy on the platform, it’s very heavy accounting-wise and it’s very heavy in terms of generating yields sustainably. We don’t rely on future funding rounds to maintain our interest rates, we generate the yields through our business entirely. This concept also does not resonate well with most regulators so it’s a tricky feature to offer.
Either way, the Nexo team is looking into what the possibilities are and I will hopefully be able to update you on this in the future.

Source: July’s Ask-Antoni-Anything Recapped