In this Nexo.io review 2020 we will focus on the interest accounts and the Nexo token. How can you get Bitcoin passive income with Nexo?
How good are the interest rates with Nexo?
How much does Nexo give in dividend if you hold the Nexo token?
We have used Nexo for over 1 year and now it is September 2020. We will answer all the questions for you.
Nexo IO Review 2020 Intro
Nexo is an EU licensed and regulated financial institution. They have a 100 million insurance on all custodial assets.
Nexo has a user base with over 800.000 users and 4.8 rating on Trustpilot.
Nexo is offering the services
- Earn daily compounding interest on your crypto and EUR, GBP and USD
- Collateralize your crypto and borrow instantly with Nexo’s crypto credit lines
- Nexo card – Spend the value of your crypto without selling it. Get instant cashback on all purchases and take advantage of flexible repayment options and zero fees.
Nexo Intro on Youtube in 90 sec
In the video below Nexo explain their services for you in 90 seconds.
Nexo IO Review 2020 Interest Account
Nexo io offers interest account for many different cryptocurrencis in September 2020. As you can see in the screenshot below the interest rates ranges from 5-10% which is comparable with Crypto.com, BlockFi and Celsius which all offer similar interest accounts.
The most unique is the Chainlink LINK interest account. At the time of writing we dont know any other platform offering 5% yield on LINK.
Another important thing to notice when you compare interest rates between different companies are loyalty levels and in what currency the interest is paid.
For example, with Crypto.com and Celsius there are several different loyalty levels that also determines you interest rate. On top of that, you can also choose if you want the interest paid in their native token for Crypto.com and Celsius which will also affect you interest rate.
With Nexo io things are a bit easier. They only have 2 loyalty levels and they pay your interest in the underlying asset. For example, if you deposit Bitcoin you will receive payouts in Bitcoin.
However, Nexo has a dividend payout once every year and this is depended on your Nexo Token holdings. They pay 30% of their earnings in dividend once per year. Read more about their token and dividend payout below.
Nexo IO Token and Dividend Payout
Nexo is paying 30% of the net profit in dividends. These are shared with NEXO Token Holders in the form of dividends and is divided in base dividend and loyalty dividend.
Base Dividend – paid out to token holders proportionally to their NEXO Token holdings.
Loyalty Dividend – paid out per NEXO Token based on how long it has been in the Nexo Wallet from one ex-dividend date to the next.
Nexo have paid $9,449,627.26 in dividends over the first three years. There is nothing that indicates that these payouts will slow down since Nexo ia growing very fast with new features all the time.
Right now you can sign up to get early access for the Nexo card. Nexo has not announced but according to the logo on the card it will be a Mastercard.
The Nexo card gives you the following features.
- Freeze and unfreeze your Nexo Card with a single tap
- Receive instant notifications about all transactions
- Create free virtual cards for safe online purchases
- Monitor all your transactions in real-time
- Get 2% cashback with all purchases
- View your PIN and change it at any ATM if needed
- Accepted by 40+ million merchants worldwide
- Free virtual cards
- Payments in local currencies
- NO FEES (no monthly fees, no FX fees)
How to Buy Nexo Token?
The Nexo token is not possible to buy on every crypto exchange. The market is not very liquid and the trading volume is also a bit limited.
Our best proposal when markets are limited is to go to Coinmarketcap and find the cryptocurrency. After this, you click on market pairs and here you can see all the crypto exchanges with most trading volumes. We have already don this for you.
In the screenshot below you can see all the Nexo market pairs and they are sorted by trading volume. You should look for one of the greatest trading volumes since you will find the best spread on that market. Also, there will be minimum slippage.
We would use Huobi Global to buy Nexo tokens and actually we did when we bought our Nexo tokens.
Nexo IO Review 2020 Summary
We believe Nexo Io definitely should be a part of your crypto passive income portfolio in 2020.
We ourselves have an equal portion in Nexo, Crypto.com, BlockFi and Celsius of our total holdings.
We think these four are the greatest players when it comes to interest accounts and easy-of-use. Also, they have a good online reputation.
Compare our Nexo review with our Crypto.com app review.