NEXO VS Celsius Review 2022 Interest Rates and Cards

NEXO VS Celsius Review 2022 Interest Rates and Cards

NEXO VS Celsius Network review we compare interest rates, security and other exchange and trading features.

Both platforms are offering services for crypto lending, borrowing, crypto cards, and exchange. You can buy crypto and hold them in these platforms. They pay you a reward because you hold your crypto in these platforms.

You will earn interest and geenrate a passive income and don’t have to do anything. They lend your crypto to institutions and receive an interest payout from them and pass a part over to you.

No Financial Advice, Information only. Do your own research

What is NEXO?

Nexo is a regulated digital assets institution based in Switzerland and is offering

  • Instant crypto loans
  • Daily payout earning on crypto deposits
  • An exchange
  • A crypto card

In addition, NEXO provides these services in 40+ fiat currencies and in more than 200 jurisdictions.

In February 2022, NEXO has  $30+ billion processed for 2+ million users across the globe.

What is Celsius Network?

Celsius Network is also, similar to NEXO, a regulated digital assets institution founded in 2017 and headquartered in London, England. Celsius is offering 

  • Instant crypto loans
  • Weekly payout earning on crypto deposits
  • A swap feature (Beta in Feb 2022)
  • A crypto card (Coming soon)

NEXO VS Celsius Security Features

Celsius Network is also, similar to NEXO, a regulated digital assets institution founded in 2017 and headquartered in London, England. Celsius is offering 

  • Instant crypto loans
  • Weekly payout earning on crypto deposits
  • A swap feature (Beta in Feb 2022)
  • A crypto card (Coming soon)

NEXO VS Celsius Interest Rates

Both NEXO and Celsius Network is offering good interest rate for many different cryptocurrencies and stablecoins. In general, NEXO is offering better interest rates while Celsius is offering more stablecoin alternatives.

However, to get the best interest rates from NEXO you have to fulfill some criteria stated below.

An important thing to know is the difference between APY and APR when you compare interest yields and payouts.

NEXO VS Celsius Interest Payments

  • NEXO pays every day while Celsius have weekly payouts. This will impact your compound interest earnings over time.
  • Celsius Network has no minimum balance while NEXO has a limit. At the same time this limit is so low you don’t have to bother.
  • Both NEXO and Celsius are adding assets to their portfolio on weekly basis. They are about equal when we compare NEXO (27) and Celsius (44).

NEXO VS Celsius Interest Payments Table

Nexo logo
Celsius Logo
Bitcoin BTC logo

*For BTC deposits < 0.25 BTC

**For ETH deposits < 30 ETH

Read more about how to acheive the highest interest rates below.

NEXO APY

NEXO basic interest rate for most cryptocurrencies is 4%

You can increase your yield by:

  • +1% by holding NEXO
  • +1% monthly lock-up
  • +2% earn in NEXO (not available for US customers)

NEXO basic interest rate for stablecoins are 8% base. Here, you can’t lock your funds but these options are still available

  • +2% by holding NEXO
  • +2% earn in NEXO (No option to lock up)

BTC, XRP and LINK have capped maximum values. If you hold large amount of these cryptocurrencies, you definitely want to raise your loyalty level for better interest rates.

Get up to $100 sign up bonus with NEXO

APY Celsius

Celsius APY fluctuates with asset demand and we can confirm this is true. Celsius Network is changing interest rates very often and without any notice. NEXO, on the other hand, has very stable interest rate and very similar for many cryptocurrencies. This can be interpreted as NEXO has higher marginals but at the same time you can get better interest rates with NEXO for most cryptocurrencies.

  • Celsius has no lock up periods and for NEXO this is optional to earn more.
  • Boost you Celsius payouts with the CEL token (Earn in CEL 30% (Not US) if you are Platinum member)
  • US residents: No action required since you can’t get payouts in the CEL token

Get up to $50 sign up bonus with Celsius. Code: 187146807e

NEXO VS Celsius Customer Support

NEXO has a chat bot where you can reach out to a human by asking for it. No waiting time when we test.

Celsius has a phone number and a ticket system.

Customer support is usually not an important factor for us as long as there is one acceptable method. Waiting time is the most important factor here but it´s very hard to compare since it´s so dependent on the individual issue and at what time the support was contacted.

NEXO VS Celsius Account Security

In the table below, we have compare account, withdrawal and login security features. Both platforms have the basic features you can ask for as 2FA and whitelisted withdrawal addresses.

There would be great with anti phishing alternatives, especially since we have actually received fake emails from someone try to declare they were from Celsius and asking us to sign in with our Metamask wallet to receive a bonus.

Nexo logo
Celsius Logo

NEXO VS Celsius Platform Security

Both NEXO and Celsius are regulated crypto lending and borrowing platforms.

NEXO has a $375 million insurance which is very little compared to total amount under management.

Celsius no insurance but there are plans to implement an option for each individual to sign an insurance plan with Celsius.

NEXO VS Celsius Fees

Celsius Network are marketing themselves as charging no fees. While this is true we all know the fees are charged in another format which is not that visible and transparent to compare for the user.

NEXO doesn’t charge any deposit or exchange fees. Depending on your Loyalty tier, you will receive between 1 and 5 monthly crypto withdrawals completely free of charge.

Regarding the exchange fees, you can even receive cashback if you are a Platinum member on NEXO. 

Nexo logo
Celsius Logo

NEXO have limited number of free withdrawals. 

NEXO VS Celsius Exchange and Fiat Deposits

NEXO has an exchange feature while Celsius has implemented their swap feature in Beta stage in February 2022.

  • Both Celsius and NEXO have fiat deposits methods via SEPA, bank transfer and card (VISA/Mastercard)
  • Both Celsius and NEXO has an exchange feature
  • Swapping NEXO token is not available for US users
  • NEXO has a swap cashback reward for higher loyalty levels (Limited to $100.000 trading volume)
  • Celsius beta swap (most assets available but features limited)

NEXO VS Celsius Crypto Backed Loans

Both NEXO and Celsius are offering the best interest rates on crypto loans in the market. Here, you can even get 0% interest with NEXO if you reach the highest loylaty level and low loan to value ratio (LTV).

Celsius Crypto Loans

Celsius crypto loans comes with

  • no fees
  • instant approval
  • interest only payments (no principal payments, only in the end)
  • Interest from 0.75% with a 25% LTV and interest paid in CEL

NEXO Crypto Loans

  • NEXO LTV 15%-90%
  • Interest rates between 0-13.9%. 0% if you are Platinum level and LTV < 20%
  • With NEXO you can borrow against NFT value

NEXO VS Celsius US Customers

Both Celsius and NEXO are accepting US citizens as customers. However, non of them can offer their “Earn in kind” possibility for USA residents. 

The implication of this is that US can’t access the rewards and benefits coming from this opportunity.

For Celsius Network, the complete loyalty system is loosing it´s value for US customers.

For NEXO users, US customers can still lock up their funds and reach higher loyalty levels to get better interest rates. Still, US citizens can’t get the +2% “Earn in kind”.

NEXO VS Celsius Card

At the moment, there is no Celsius card but they are about to release one. In the meantime, let´s list all the pros of the NEXO card.

  • NEXO card gives instant 2% cashback in NEXO or BTC
  • The Credit Line is based on the portfolio
  • There are separated Credit line wallet and Saving app wallet (You can’t earn interest on your credit line collateral)
  • NEXO card is compatible with Apple Pay and Google Pay
  • NEXO card gives you the possibility for virtual cards
  • Get up to €10,000 in ATM withdrawals per month with the NEXO card

NEXO Token VS Celsius CEL Tokenomics

Both Celsius and NEXO are building similar products and also both are building value to their customers and themselves via their own native token. 

However, does the CEL token or the NEXO token has the most promising tokenomics?

NEXO Tokenomics

The demand for the NEXO token is

  • Customer need to hold NEXO tokens >10% or more for platinum
  • Customer gets up to +1% on crypto interest rates
  • Customer gets up to +2% on stablecoins
  • There is a higher earning cap for higher loyalty levels (BTC, XRP, LINK)
  • There are better crypto loan terms for higher loyalty levels. You can get 0% interest on crypto loans
  • There are better terms to use the exchange. You can get up to 0.5% cashback on swaps
  • You will get more free withdrawals with higher loyalty levels
  • NEXO also has a buyback program $10m per month ($100m total) – only temporary

The supply for the NEXO token

  • Circulating supply: 560,000,010
  • Max supply: 1,000,000,000

Get up to $100 sign up bonus with NEXO

Celsius CEL Tokenomics

The demand for the CEL token

  • Celsius 25% of portfolio
  • 30% yield increase if earn in CEL token (not for US)
  • Celsius (Both loyalty level and earn in CEL)
  • US no reason to own the CEL token

The supply for Celsius CEL token

  • Celsius Weekly burn – CEL is deflationary
  • Circulating supply: 423,415,980
  • Total supply: 694,267,504

 

Get up to $50 sign up bonus with Celsius. Code: 187146807e

Summary - NEXO VS Celsius

Nexo logo
Celsius Logo
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