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What is NEXO?

Nexo (NEXO) is a blockchain-based lending platform, and claims to be the first of its kind to offer instant cryptocurrency backed loans. NEXO is the native utility token of the network.

  • Nexo wishes to provide individuals with an innovative, convenient and sustainable lending market that avoids the inefficiencies of traditional lending services.
  • The Nexo lending and borrowing service utilises an oracle on the Ethereum blockchain. This oracle helps to establish the loan and once finalised, funds are instantly allocated. When an individual repays the loan, the oracle returns the cryptocurrency and records the transaction on the blockchain.
  • The NEXO token is a fundamental part of their loyalty program. The more NEXO an individual holds in a Nexo portfolio, the more benefits they will receive. Such as higher yields, borrowing discounts and more.

Nexo wishes to make borrowing and lending as straightforward and convenient as possible. As one of the first cryptocurrency lending platforms, Nexo is attempting to resolve the inefficiencies found in traditional lending markets.

How do I swap NEXO?

Enter amount to swap
Select the quantity of NEXO you would like to swap.
Select coin to swap with
Select the coin you would like to swap with.
Confirm & swap
Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about NEXO

Why Should I Trade NEXO with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over three million Australians. We make it easy to buy and sell NEXO no matter what your trading experience is. Unlike other international and Australian NEXO exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy NEXO with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade NEXO how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your NEXO?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your NEXO for free.

Cold Storage

If you are holding NEXO as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy NEXO. We are trusted by over three million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for NEXO. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
NEXO has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As NEXO is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual NEXO exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in NEXO & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying NEXO safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your NEXO portfolio here.
Yes! With CoinSpot you can convert your NEXO to AUD (Australian Dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.

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