How to buy Nexo (NEXO): A Beginner’s Guide | finder.com
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How to buy and sell Nexo (NEXO)

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Review our step-by-step guide to buying and selling NEXO tokens.

Launched in April 2018, the Nexo platform offers instant crypto-backed loans to customers. This allows users to retain full ownership of their digital assets while at the same time being able to access cash.

Nexo’s native token, NEXO, is a US Securities and Exchange Commission (SEC)-compliant security token that pays ongoing dividends to holders. For more details about how these tokens work and how and where to buy them, keep reading.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy NEXO in the US

Nexo tokens are listed on the following crypto exchanges:

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
YoBit Cryptocurrency Exchange
AdvCash
Cryptocurrency
Payeer
Perfect Money
USD, RUB
BTC, BTG, DASH, ETH, LTC, DOGE, WAVES, LSK, BCC, TRX, ABYSS, PAC, ZEC, XVG, EOS, ETC, RDD, TOKC, B2X, TTC & 400+ more
Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Mercatox Cryptocurrency Exchange
Cryptocurrency
Payeer
Perfect Money
Yandex Money
USD, EUR, RUB
BTC, ETH, DCN, BCH, NIO, TRX, DASH, COB, DOGE, PRIX, DSR, XCPO, LTC, XRB, VERI, LOC, NUA, PKT, PPT, ICO & 80+ more
Supporting over 100 coins, you can exchange a variety of cryptocurrency pairs on this peer-to-peer platform.
IDEX Cryptocurrency Exchange
IDEX Cryptocurrency Exchange
Cryptocurrency
-
EOS, RFR, CS, AUC, BEE, BANCA, CNN, EOSDAC, FSN, NBAI, TRAC, VET, XBP & 60+ more
Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
Cryptocurrency
-
TRX, ETH, NPXSXEM, GOT, NEXO, IG, HAND, TOMO, HOT, ABYSS, LCS, EXRN, ATN, TMT, ELY & over 75+ more
A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
DDEX Cryptocurrency Exchange
DDEX Cryptocurrency Exchange
Cryptocurrency
-
EOS, XYO, NPXS, HOT, CNN, ZRX, KIN, NCT, BAX, ZCO, NBAI, POLY, POE, TFD, REN, LBA, TOMO, LND, REQ, IOST, ORI, & 20+ more
EtherDelta Cryptocurrency Exchange
EtherDelta Cryptocurrency Exchange
Cryptocurrency
-
VERI, EOS, KIN, PLR, PPP, SXDT, POLY, ASTRO, OMG, EDT, NAS, ZIL, GMT, MAN, REAL, PAY, VEE, MYST, & 30+ more

Compare up to 4 providers

Quick guide to buying Nexo (NEXO)

  1. Register for an account with Hotbit.
  2. Enable two-factor authentication.
  3. Click “Fund” and select “Deposits & Withdrawals” from the drop-down menu.
  4. Find the currency you want to use, such as BTC or ETH, and click “Deposit.”
  5. Copy the wallet address or scan the QR code.
  6. Transfer funds into your wallet.
  7. Click “Exchange.”
  8. Search for the pair you want to trade, such as NEXO/ETH.
  9. Enter the amount of NEXO you want to buy.
  10. Review transaction details.
  11. Click “Buy NEXO.”

A step-by-step guide to buying NEXO

Want to buy NEXO tokens but don’t know how? Keep reading for step-by-step instructions.

Step 1. Register for an account with an exchange that lists NEXO

Compare the fees and features of the exchanges that list NEXO in one or more currency pairs. Once you’ve decided on the best platform, register for an account by providing your email address and creating a password.

Some exchanges will then require you to provide additional information, including your full personal details and proof of ID, before you can start trading to keep the site and its users secure.

Before going any further, make sure you’ve enabled two-factor authentication on your account.

Step 2. Deposit funds into your account

As there’s no way to directly purchase NEXO tokens using US dollars, you’ll need to first obtain either bitcoin (BTC) or Ether (ETH), both of which are listed in trading pairs with NEXO. For advice on how to acquire either of these currencies, our how to buy BTC and how to buy ETH guides contain everything you need to know.

To deposit either BTC or ETH into your account, you’ll need to find the address for your exchange wallet. For example, if you’re using Hotbit, this can be done by clicking “Fund” from the top menu and selecting “Deposits & Withdrawals” from the drop-down menu that appears. Find the currency you want to use, click “Deposit” and then copy the wallet address or scan the QR code so that you’ll transfer the funds to the right address.

Step 3. Buy NEXO

Now it’s time to purchase your tokens, which you can do by navigating your way to the exchange page on your chosen platform and then specifying how many NEXO tokens you want to buy.

For example, if you’re on Hotbit, you’ll need to click the “Exchange” tab at the top of the screen and search for the pair you want to trade, such as NEXO/ETH. You can then enter the amount of NEXO you want to buy, making sure to review all the details of your transaction before clicking “Buy NEXO.”

How to sell NEXO

If you want to sell your NEXO tokens, the process is similar to that detailed in step 3. However, once you’re on the exchange page you’ll need to make sure you enter your transaction details in the “Sell” tab instead of the “Buy” tab.

As NEXO is only available in a few currency pairs, bear in mind that you may not be able to make an immediate exchange for the currency you want.

Which wallets can I use to hold NEXO?

While you can leave your tokens on an exchange if you wish, doing so will expose you to the risk of hacking and theft. To avoid potential security breaches, it’s generally considered much safer to move your tokens into a secure wallet that lets you control your private keys.

NEXO tokens are ERC20 tokens issued on Ethereum, so you’ll need an ERC20-compatible wallet set up to store your holdings. Examples of wallets you might consider include MyEtherWallet, the MetaMask browser extension, or a hardware wallet like the Ledger Nano S or TREZOR.

How NEXO works

Nexo is powered by Credissimo, a European fintech company founded in 2007. This online lender is regulated by multiple European banking and financial services regulators and launched the Nexo platform in April 2018.

Nexo is an instant lending platform that allows users to offer their crypto holdings as collateral for loans. To access a loan, customers need to transfer their crypto assets into a Nexo wallet. They can then access instant cash in fiat currencies like the US dollar, euro and Japanese yen, with loans secured by the market value of the crypto assets stored in the Nexo wallet.

This gives Nexo quick and easy access to cash anywhere around the world. It’s all handled through an automated platform that uses 256-bit encryption, there are no credit checks required and clients retain ownership of their digital assets. There are also no platform or transaction fees to worry about, and users can request a bank transfer or access a free credit card for convenient everyday spending.

As well as individuals looking to access the wealth tied up in their cryptocurrency holdings, Nexo says its platform can also be used by:

  • Miners who need to cover capital expenses needed to stay competitive.
  • Hedge funds looking to leverage their crypto portfolio and take advantage of new investment opportunities.
  • Cryptocurrency exchanges needing to access funds to finance margin lending and trading services.
  • Crypto companies that need to access funds raised from an ICO.
  • Gamers who hold in-game and virtual reality assets but who don’t want to sell those items and lose the chance to use them in the future.

What to consider if buying NEXO

Cryptocurrencies are complicated assets that are also notoriously volatile. Make sure you’re fully aware of the risks associated with trading cryptos before buying any coins or tokens.

You’ll also need to carefully assess any factors that could have an influence on the future price of a currency. If you’re thinking of buying NEXO, consider the following:

  • Supply. The total supply of NEXO tokens is capped at 1 billion NEXO. According to CoinMarketCap, at time of writing (June 2018) the circulating supply was 560,000,010 NEXO.
  • The token. The NEXO token is backed by the underlying assets of Nexo’s loan portfolio and complies with US SEC regulations. NEXO token holders are entitled to 30% of the company’s profits, distributed to holders as monthly dividends.
  • Interest rate discounts. Customers who make loan repayments using NEXO tokens can receive a discounted interest rate. The tokens are also accepted as loan collateral on the Nexo platform.
  • Token distribution. NEXO’s token distribution is as follows:
    • 52.5% to investors
    • 25% overdraft funding reserves subject to 12 months vesting (following March/April 2018 ICO) with 6 months cliff
    • 11.25% to founders and team subject to 48 months, vesting quarterly
    • 6% for community building and airdrop campaigns subject to 18 months, vesting quarterly
    • 5.25% for advisors, legal team and PR subject to up to 12 months vesting
  • Competitors. It’s also worth considering how Nexo stacks up against other projects offering crypto-backed loans, such as ETHLend and SALT.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Disclosure: At time of writing the author holds ADA, IOTA and XLM.

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