Nexo Review 2024 - Still My Favourite Crypto Exchange?
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- Опубликовано: 21 окт 2024
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Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for entertainment/educational purposes only and should not be construed as financial or legal advice. You, and only you, are responsible for your investment decisions. This video, post & article should not be construed as investment advice. Capital at risk.
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In this video, we dive deep into Nexo, my trusted crypto exchange platform. With the recent surge in Bitcoin and other digital assets, I'll share why Nexo remains my top pick in 2024. From buying and exchanging crypto effortlessly to earning compounding interest daily, Nexo offers a comprehensive suite of services including a unique Nexo Card and innovative features like Nexo Booster. Join me as I explore the web and app interfaces, highlighting key functionalities that make Nexo stand out. Whether you're new to crypto or looking to switch platforms, this tutorial is your go-to guide for navigating Nexo in 2024.
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Hi , is it possible the same can/will happen like with celsius ?
@@lckynr7626 Hi and yes, it's possible this could happen to any crypto exchange, that's why I keep most of my crypto on my hardware wallet 👌
Been rocking with Nexo for multiple years with zero issues, would still recommend it for sure.
Awesome to hear that and same for me 👌 Cheers
Hey Kai, I'm looking at NEXO dual investment but cant seem to find out how this works. I see massive percentages but how does this work. Would it be possible to make a video on it? Think it would benefit a lot of people because there does not seem to be any info on the subject anywhere (not from nexo, not on youtube). It would be great if you could make a video on this topic
Hi there, thanks for bringing this up, somehow didn't even pay attention to it before. Definitely interesting, almost sounds too good:) You probably read this before support.nexo.com/article/dual-investment-explained Only thing when I tried to set up one up it showed me that minimum investment for each is USDT 5100 so I think this is very high, actually it's more than I have in USDT right now and was not planning to add more to it or the exchange for time being, but will keep an eye on it and if that conditions changes consider it for a future video 👌 Cheers
Very nice review. One question, how’s revolut when you withdraw fiat from nexo? Any issues?
Thanks a lot 🙏 Works perfectly well but only if you used Revolut to also send money to Nexo, you can't withdraw to accounts you did not use to deposit funds in the first place to avoid money laundering 👌 Cheers
I have Nexo in the UK (created acc last year) . However my friends and family are unable to download the Nexo app ? are they banned in the UK or something ?
Hi and yes, unfortunately do to UK regulations many crypto exchanges including Nexo currently can't take new customers and might even be forced to close accounts like they had to in the US. Hope it'll be sorted out soon 🤞 Cheers
@@SmartMoneywithKaican I just use a VPN ?
How many is trade fee for crypto to Fiat (euro)?
How much is sepa withdrawal fee?
Do we have limit for payment.
Thanks for your Video
Hi, as these things change from time to time, just have a look here on their page, you'll see the different benefits depending on which tier level you are on. nexo.com/token Cheers
they have change interest on credit card, used to be 0% now minimum is 2,9%...
Too be honest, that's probably healthy, 0% was not really sustainable and it's still much cheaper than most other credit cards out there 👌
@@SmartMoneywithKai yes! someone explained me it was 2,9% yearly so it's not that much! I am new to this interest and investment world with a lot to learn... I have started using nexo credit card and I am really happy with the cash back and also 12%-13% interests on stablecoins, already making 50$ each month!
Kai again thanks for the effort you put in your videos! Always with a smile! Getting healty and wealthy! Keep it up bud! Always love your vids. Such a positive attitude! 🎉🎉🎉
Thanks a million 🙏 Life is too short to be negative:) I hope by being positive my investment portfolio will also be 😂 Sunny regards from Tenerife 👋 Cheers
what cards do you use now ?
Hi. Mostly Revolut Ultra Pro card and my UAE Wio Bank card 👌
Great video. Can this BTC transfer to Coinbase?
Thanks a lot and absolutely, you can send your BTC to any address you wish, including Coinbase, though ideally you want to be taking it off the exchange. Cheers
Just discovered Nexo and I think it's really cool! I love the credit card system.
Awesome to hear that and yes, it really is 👌 Cheers mate
Is it mandatory to have at least gold tier to be able to order the card? Thank you!
Hi and no, anyone can order the card or just use it digitally so you don't even need to wait and can use it right away with Google or Apple Pay 👌
@@SmartMoneywithKai perfect, many thanks! Will try
Thanks for the great review! You mention you now use an other card. Can you please tell us which one?
Thanks a lot. I used Revolut Ultra with Revolut Pro to get 1.2% FIAT cashback on every transaction and my UAE Wio Bank card to get 1% FIAT cashback on every transaction 👌 Cheers
Why change it to nexo tokens as interest, just buy some nexo, and have the highest level as Platimum, that is 12 procent
Hi, I do own Nexo tokens but I dropped to gold now as I bought quite a bit of USDT so as a percentage it's less. For now I don't want to buy more, but instead earn them through high Nexo interest on my USDT. Actually made a video on this topic dropping later today. Cheers 👋
Can i use from Thailand just Retired here and the Thai Baht is not easily excepted
Great video Thanks
Thanks a lot and yes, seems to be available in Thailand 👌 Cheers
im really very new to crypto and all but i dont understand the Credit Mode Exactly lets say i have 500Euros in BTC and its shows up on Credit Mode that i can spend up to 180 Euros what exactly does that mean ? do i have to pay the 180 euros back with the crypto i have sitting or do i need tu buy Eurx to pay it back ?
Hi there 👋 Crypto can definitely feel like a jungle at first, but you're asking the right questions. With the Nexo Card's Credit Mode, think of it as a flexible friend giving you a short-term loan. If you have €500 in BTC and it shows you can spend up to €180, it means Nexo is letting you borrow against your crypto, up to that amount.
You won't be selling your BTC; you're just using it as collateral. So, yes, you'll have to pay back the €180 you spend. But here's the cool part: you have options on how to repay it. You can use the same crypto (if its value has gone up, it might even cost you less to pay back!), or you can repay with fiat currency like EUR, or even other cryptos that Nexo accepts.
No need to specifically buy EURx unless you want to; just make sure to keep an eye on your repayment terms to avoid any surprises. Cheers
@@SmartMoneywithKai WOW perfect, that was the answer for the question i was exactly looking for thank you so much for the details!
Glad to hear that and most welcome 🙌
I just dont see how much is my profit..Like
In trading 212 you can see how much did you paid, the price how much you paid and profit, and here in Nexo it is not so clear
Very clear to me 😂
Hi there, if you click on Portfolio you will see your total gain over time, it's not as detailed as some other stocks exchanges, but for a Crypto exchange it's actually quite nice. Cheers
Does your UAE bank accept non-residents? I'd be interested in flying over there and opening an account.
Hi mate, sadly not, you need to be a resident of the UAE first to open an account, but it's easy to start a free-zone company from there and once open you can open a bank account 👌 Cheers
@@SmartMoneywithKai Yeah I did some more research ;( Thanks for your input!
Nice and my pleasure, anytime 👌
Hi could you please tell how to deposit to nexo from glob ex.
Hi never used glob ex but the process should be the same as transfer from any exchange, just withdraw and send it to your new exchange wallet address 👌
@@SmartMoneywithKai Hi thanks. How do I do that. I would appreciate if you can help me. Thank you
Hi as I don't use this app, I can't really show you I'm afraid. Just ask their support or look on RUclips for those tutorials 👌
I hate that i cant utilize the interest rates here in the US
Yea, such a shame that they pushed all those exchanges away :(
@@SmartMoneywithKai Lets be honest, with most of these companies rugging us again and again, the risks with interest are really not worth it, nor is there really any safety in lending out crypto.
The virtual card with crypto is really nice
i'm using it since the very beginning and NEVER had a single issue
Likewise 👌
Absolutely 💯
you didnt mention the nexo wallet
Hi that’s true as I don’t use it myself in fact many different more features they offer I did not review to keep it beginner friendly as well as focus on the things I use myself only but I guess we can agree that Nexo is doing a fantastic job 👌 Cheers
What are my risks when doing KYC on nexo or other crypto exchange ? Submitting photos of my ID and video of my face along with all my personal information seems like a great way to have my identity stolen, yet millions of people have done it on multiple exchanges. What’s protecting me in a data breach?
Hi 👋,
Great question, and it’s definitely wise to consider the security of your personal information when using platforms like Nexo or other crypto exchanges. Here are the key points to keep in mind:
Regulatory Compliance: Most reputable exchanges follow stringent regulatory requirements, including those related to data protection. This means they're often obligated to have strong security measures in place.
Security Measures: These platforms typically employ advanced security protocols, such as encryption, firewalls, and secure servers, to protect your data from unauthorized access.
Data Breach Protocols: In the event of a data breach, these companies usually have protocols in place to mitigate damage, including notifying affected users promptly and offering support to secure their accounts.
While these measures do reduce the risk, it's crucial to use exchanges with a strong track record of security and customer service. Always enable all available security features, like two-factor authentication, and keep an eye on the news about the platforms you use.
Ultimately though nothing is ever 100% safe, even Google & Meta had data leaks.
Cheers ✌️
@@SmartMoneywithKai Thanks for the detailed information .
My pleasure, anytime 👋
Is it available for canadians ?
Hi and sadly not. Cheers
Hello sir please make video om arbitrage trading
Hi, thanks for the idea though I don't arbitrage trade so I would not be the best to make a video on this topic. Cheers
It is safe if i put $1M lending usdt on nexo ?
Hi there, any crypto exchange comes with inherent risks, but as for me I don't take loans but I still use their platform and love it 👌 Cheers
Been using it 3 years now and it feels safe for now! But it used to have better interest ratios 😢
Yep and fully agreed 👌
Really enjoyed this, I need some of your positive energy!
Awww, that's amazing to hear, thanks 🙌
Add timestamps please
Hi and yes, I should do more of that, hoping for AI to soon do that for me as it's quite tedious 😉 Cheers
Nexo is still my favorite and only crypto exchange together with Ledger
Great to hear that Andy and same here 👌 If Bitcoin continues like that we will be much closer to our Villa in Mallorca 😂
I will buy the house anyway, but with your BTC raising, I'm expecting a dish of BBQ from your house (which will be close to mine as neighborus) @@SmartMoneywithKai
😂😂😂👌
Done deal 🤝✅😉
NEXO is gonna go belly up one day. 16% interest is unrealistic.
Not really if they generate more themselves through lending it out at higher returns. They did this for a number of years already, seem to be working well so far but of course, nothing is every guaranteed and best to keep your crypto on a hardware wallet, but some of my funds I keep here for that sweet return 👌
I'm a former US user waiting for them to come back 😢
Yes, fingers crossed they will 🤞
HOW do i get my crypto from it?
@@SAMLEE-bb1xp Just withdraw it from the exchange to another exchange or even better to a hardware wallet 👌
No interest in the past 2 months
Hi, not sure what you mean?
@@SmartMoneywithKai its ok it was showing 0.00 in earnings at one point
NEXO wird hoffentlich nicht sterben
🤞