How to Buy Nexo in 2020: Buy, Sell & Trade

As the first cryptocurrency-backed loan system to hit the market, Nexo is a unique project that could have a bright future.

Where to buy Nexo coin

Read on to find out about Nexo and how it works or jump ahead to our step-by-step buyers guide if you’re ready to start investing.

eToro
Key Features
Access the world’s most popular Crypto assets including Bitcoin
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options available
Min Deposit
200€
Germany
Start Trading View key features
Key Features
Access the world’s most popular Crypto assets including Bitcoin
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options available
Top Coins
  • ADA
  • BTC
  • XLM
  • XRP
  • LTC
Payment Methods
Credit Card, Debit Card, Wire Transfer, PayPal, Skrill, Neteller, Yandex, WebMoney, UnionPay, MoneyGram
eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices and commodities. eToro offers a wide range of stocks, such as Amazon, Apple, Microsoft and others. eToro users can connect with, learn from, and copy or get copied by other users.
eToro is a multi-asset platform which offers CFD and non CFD products. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
ForexTB
Key Features
0% trading fees on all cryptocurrencies
Major cryptocurrency coins available including BTC, LTC, ETH
CySec regulated broker
Min Deposit
250€
Germany
Start Trading View key features
Key Features
0% trading fees on all cryptocurrencies
Major cryptocurrency coins available including BTC, LTC, ETH
CySec regulated broker
Top Coins
  • BTC
  • ETH
  • LTC
Payment Methods
Debit Card, Credit Card, Wallet One, Wire Transfer
ForexTB offers over 270 desirable financial assets to choose from. At ForexTB, you can dive into global markets, and trade CFDs on Forex assets, such as EUR/USD, GBP/USD, or trade CFDs on Commodities such as gold, silver and crude oil.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Plus500
Key Features
Crypto CFD Trading - Available 24/7*
No need to open a crypto exchange account or use a special wallet
Fully regulated - FCA, ASIC, CySec
Min Deposit
100€
Germany
Start Trading View key features
Key Features
Crypto CFD Trading - Available 24/7*
No need to open a crypto exchange account or use a special wallet
Fully regulated - FCA, ASIC, CySec
Top Coins
  • BTC
  • ETH
Payment Methods
Credit Card, PayPal, Skrill, Bank Transfer
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies.
80.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. * Except for one hour on Sundays
Skilling
Key Features
Licensed and regulated by CySEC and FCA authorised UK Branch
Trade Bitcoin CFDs as well as more lucrative altcoins like Ethereum and Ripple
Offers 800+ instruments
Min Deposit
100€
Germany
Start Trading View key features
Key Features
Licensed and regulated by CySEC and FCA authorised UK Branch
Trade Bitcoin CFDs as well as more lucrative altcoins like Ethereum and Ripple
Offers 800+ instruments
Top Coins
  • ETH
  • XRP
  • LTC
  • BCH
  • BTC
Payment Methods
Credit Card, Neteller, Skrill, Trustly, Bank Transfer
Skilling is a CFD trading platform that offers instruments from markets around the world (Cryptos, Forex, Commodities, Indices, Stocks). Our proprietary platform has been designed to be both intuitive and user-friendly to ensure that anybody who wants to start trading the world’s markets, can feel confident and secure enough to trade without being apprehensive or intimidated when confronted by numbers, graphs and acronyms.
69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Pepperstone
Key Features
ASIC and FCA regulated broker
Trade the hottest cryptocurrencies
No commission fees
Min Deposit
200€
Germany
Start Trading View key features
Key Features
ASIC and FCA regulated broker
Trade the hottest cryptocurrencies
No commission fees
Top Coins
  • BTC
  • BCH
  • ETH
  • DASH
  • LTC
Payment Methods
Visa, Mastercard, PayPal, POLi & BPay, China UnionPay, Wire Transfer, Skrill, Fastapay
Pepperstone was founded in 2010 in Melbourne, Australia by a team of experienced traders with a shared commitment to improve the world of online trading. Frustrated by delayed executions, expensive prices and poor customer support, they set out to provide traders around the world with superior technology, low-cost spreads and a genuine commitment to helping them master the trade. Their mission is to create a world of tech-enabled trading where ambitious traders can embrace the challenge and opportunity of global markets.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What is Nexo?

Developed by FinTech company Credissimo, Nexo claims to offer the world’s first instant crypto-backed loans.

Blockchain technology’s disruptive potential is widely touted in relation to all manner of industries, especially the finance sector. So the fact that Nexo is the first crypto project to make a convincing foray into the loan space marks it out as something of a trail blazer.

How does Nexo work?

Nexo allows cryptocurrency to be used as collateral if you want to take out a loan. So, rather than the usual loan criteria – credit ratings, personal finances, employment and property status etc. – the amount you can borrow from Nexo is entirely determined by the size of your security deposit, which is payable in popular cryptocurrencies. 

Typically, you’ll be offered 50% of the value of your deposit if using Bitcoin or Ethereum. You can withdraw your Nexo loan in as many as 45 supported fiat currencies, should you agree to the terms of the loan of course.  

NEXO (Nexo’s native token) holders are granted dividend payouts in the form of 30% of the company’s profits (in August 2019 the total payout was reported to be $2,409,574.87) and discounted interest rates on Nexo loans.

How to buy NEXO online – step-by-step guide

Step 1. Get a suitable wallet

It’s a good idea to get your crypto of the exchange as quickly as possible so they’re safe from security risks like hacking or theft. Having a wallet ready is therefore wise. You’ll need an ERC20-compatible wallet to store your NEXO.

  • Ledger Nano X: One of the safest options for storing your NEXO tokens is the Nano X hardware wallet from Ledger. It’s not the cheapest wallet out there, but if you’re serious about security, it’s one of the best. 
  • Nexo Wallet: Nexo’s official wallet is now available as an app for iOS and Android devices. The wallet gives you full access to the Nexo instant loan system and allows token holders to make passive income through dividend payments. 

Step 2. Find a Nexo exchange

The next step to securing those NEXO tokens is to find an exchange. There are plenty to choose from, so to narrow your search and save you some time, we’ve picked out a couple of our favourite places to buy NEXO. Note that most NEXO exchanges will require you to trade with another crypto (like BTC or ETH) rather than a fiat currency.

  • Changelly: If you’re looking a quick and easy way to buy NEXO, then head on over to Changelly for some of the best prices and one of the most user-friendly interfaces around. It’s also the automatic choice of exchange if you buy through the Nexo app.
  • Coinswitch: Coinswitch is essentially an exchange marketplace that compares rates then allows you to buy without signing up to the multiple accounts.  Simply go to the website, find NEXO in the dropdown and away you go. Coinswitch will help you track down a fiat currency to NEXO exchange if you’d rather not trade with other cryptocoins.

Step 3. Withdraw your NEXO

It’s a good idea to withdraw your NEXO funds from the exchange as soon as you’ve acquired them – it’s much safer to keep cryptocurrencies in a digital wallet than on an exchange.

How to trade NEXO – step-by-step guide

If you’re only interested in trading rather than buying and owning NEXO tokens, then there’s no need to set up a wallet. You’ll simply be speculating on NEXO’s price fluctuations. 

Step 1. Find a broker 

Finding a broker is easy if you know where to find them and what you’re after. However, it’s well worth having a look around and doing some research before you commit to one as they all offer different perks and levels of support.  

We tend to go for more established brokers such as Plus500 or eToro as they have been around for a while and are easy to get to grips with. 

Step 2. Deposit money

Once you’ve chosen a broker, you’ll need to put some cash down as a deposit. The process is fairly straightforward and minimum deposit requirements are usually pretty low, so you can start with a relatively small bankroll.

Step 3. Decide how you’d like to trade

There are two main ways to trade cryptocurrencies: spread betting or CFDs (contracts for difference). While there are some differences, both methods require you to take a position on whether you think the price of your chosen cryptocurrency will rise or fall over a set period of time. If you’re just starting out, it might be worth doing some research on spreads and CFDs before you jump in. 

Step 4. Start trading 

Once you’ve put down a deposit, you’ll no doubt be raring to go, but we recommend you set up a demo account with your broker before you start trading for real. It’s easy to win and lose money very quickly when trading, so it makes sense to get a feel for the platform you’ve chosen as well as the ebb and flow of the cryptocurrency market.

In essence, all you need to do is take a position on whether the price of your cryptocurrency will increase or decrease. If you think it will increase take a long position (buy) and if you think it will decrease, take a short position (sell).

You may opt to take advantage of leveraged betting, which is a feature of most trading platforms. Leverage enables you to put down a fraction of your trade’s total value as a type of deposit called a ‘margin’. However, this is a high-risk strategy, so it’s probably not for beginners. Experienced traders understand this, and use stop loss orders to mitigate risk. 

Still undecided?

Pros
  • Nexo is the world’s first US SEC-compliant asset-backed token
  • Nexo advisory board includes prominent industry leaders
  • Dividends for token holders
  • Instant crypto credit line
Cons
  • Short-term loan model could put borrowers under financial pressure
  • Competitors beat NEXO on interest
By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.
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