Nexo Vs Celsius : 9 Interesting Crypto Lending App Comparisons

If you are considering setting up a cryptocurrency interest account, you may find yourself having to choose between Nexo and Celsius. In that sort of situation, you are likely to find a comparison between Nexo and Celsius useful.

Our comparison is on the basis of things like interest rates, loans, fees, payouts, supported coins and supported countries. Others are the mobile apps, safety, customer support and the respective (Nexo and Celsius) crypto tokens. Both Nexo and Celsius have their pros and cons in all these respects.

Nexo Vs Celsius
Nexo Vs Celsius


What Is Nexo?

Nexo is a platform where people can set up accounts into which they deposit their crypto assets, in order to earn interest. Nexo also allows people to borrow loans, with their crypto assets as collateral.


What Is Celsius?

Celsius is also a platform on which people can set up accounts where they deposit their crypto assets, for interest earning purposes. Celsius also offers loans backed by collateral in the form of crypto assets.


Nexo Vs Celsius Interest Rates

Most of the people who undertake Nexo vs Celsius comparisons turn out to be folks who specifically want to know how the respective platforms’ interest rates compare.

So, how are Nexo vs Celsius interest rates? As it turns out, in Nexo, interest rates (yields) depend on the types of crypto assets one has. For the likes of BTC, PAXG, LTC, LINK and ETH, the interest is 6%. For the likes of USDC and DAI, the figure goes up to 10%.

Nexo also has this scheme where the account owners who accept to get their interest in its native coin (Nexo token), get to earn 2% more APY.

That is quite a good deal, considering factors like the Nexo token price, Nexo token to USD rates as well as Nexo token price prediction outlooks. But Nexo token exchange challenges may come as a damper.

Turning to Celsius crypto interest rates, for US users, interest can be up to 6.2% APY. That is on deposits up to 1 BTC. For deposits above 1 BTC, the interest slides to 3.51%.

With regard to the LINK coin, Celsius offers 5.05% APY, rising to 8.8% for USDC as well as GUSD. For ETH, Celsius offers 5.05% APY for deposits above 100 ETH, rising to 5.35% for 100 ETH and below.

So with regard to interest rates, the Nexo vs Celsius contest doesn’t have a clear winner. There are some areas where Nexo offers a better deal. Then there are others where Celsius offers a better.

For instance, for USDC, Nexo offers better interest (at 10%) than Celsius (at 8.8) percent.

Also for BTC (below 1 BTC), Celsius offers a better deal (at 6.2% interest) than Nexo (at 6%). That 0.2% difference can work out into vast sums of money.


Nexo vs Celsius Loan

Both Nexo and Celsius offer loans, with crypto assets as collateral.

Nexo differentiates itself through a credit card, through which it offers immediate loans.

Celsius differentiates itself by offering lower interest rates on loans – on average 5% lower than Nexo.

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But then again, it is worth noting that what Nexo offers are ‘lines of credit’. These can translate into greater flexibility, when it comes to the actual borrowing.

On the other hand, what Celsius offers are classical loans. Those are facilities where you apply for a given amount of loan money. That you do with your crypto as collateral. And then it – the full amount – is wired to your account.

Otherwise with regard to collateral, Nexo collateral requirements are more or less similar to Celsius collateral requirements.


Nexo Vs Celsius Fees

Looking at fees, it is worth noting that while Celsius charges 0.5% wire transfer fee, Nexo charges 0 in that regard.

Further, while Nexo doesn’t charge any ACH transfer fee, Celsius charges 0.1% for ACH transfer.

Otherwise both Nexo and Celsius don’t charge transaction fees, bank account purchase fees or crypto conversion fees.

By the way, this aspect of fees is one that most Nexo vs Celsius Reddit threads don’t pay attention to.

Yet when you go through Nexo vs Celsius Vs Blockfi Reddit threads (that is, once Blockfi comes into the picture), the issue of fees starts getting more attention from Redditors.

Ultimately, to the extent that it doesn’t charge wire transfer and ACH fees, Nexo is better in this regard.


Nexo Vs Celsius – Payouts

Nexo users can make between 1 and 5 free withdrawals per day. The actual number depends on the Nexo loyalty tier they are on. It also depends on the amount of Nexo native tokens they hold.

In Celsius, there are no such limits: users get to withdraw their money whenever they want.

Critically, with regard to payouts, it is worth noting that in Celsius, interest compounding happens every Monday. But in Nexo, it happens daily.

Also worth noting is the fact that Nexo allows you to withdraw your funds to any address you want. But in Celsius, you only get to withdraw to one address per crypto asset.

To the extent that Celsius allows withdrawals without limits, it is better in this regard.

But to the extent that Nexo allows you to withdraw any crypto asset to any address, it is better in that regard. Then again, this can have security implications.


Nexo Customer Support Vs Celsius Customer Support

Those who have dealt with Celsius customer support say that it is more human-like and highly responsive. Nexo customer support is also good, though there are those who may feel that there is too much automation in it.

Thus, with regard to customer support, Celsius seems to win. As some Nexo vs Celsius Reddit thread posters put it, while Nexo customer support is very good, Celsius customer support is excellent.

Indeed, with regard to customer support, Celsius seems to be the winner even when Blockfi comes into the picture. Thus, even in a Nexo Vs Celsius vs Blockfi contest (with regard to customer support), Celsius still seems to win.

Moreover, while Celsius offers promo deals for new users, Nexo seems not to offer any. Thus while you may find a Celsius crypto promo code that earns you some good deals, Nexo doesn’t (currently) seem to have many of that sort.

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Nexo Vs Celsius – Supported Coins

Looking at supported crypto currencies, Celsius seems to be the winner. That is because it supports (a few) more crypto currencies than Nexo.

Both Nexo and Celsius support all the major crypto currencies such as BTC, ETH, LINK, USDC and DAP. But some crypto currencies that Celsius supports which Nexo doesn’t support include AAVE, Stellar, Ripple, Binance USD, OMG Network and EOS, among others.

But with regard to fiat currencies, Nexo may win: as it supports over 40 fiat currencies, while Celsius supports just about 32.


Nexo Vs Celsius – Supported Countries

In terms of supported countries, the Celsius vs Nexo comparison seems to be a draw. That is because both offer support to people in most countries in the world. Celsius is available in over 100 countries.

Nexo on the other hand, is available worldwide, with the exception of a few countries such as Cuba, North Korea, Afghanistan, Somalia, Syria and so on.


Nexo Token Vs Celsius Token

Celsius token price (at $3.93 on December 5th 2021) is better than the Nexo token price (which is at $2.29 on December 5th, 2021). Furthermore, the future Celsius token price prediction seems to be more optimistic than those for Nexo token.

With respect to market cap, the Celsius token also seems to be doing better. That is at $1.6 billion, in comparison to Nexo’s $1.30 billion.

For those reasons, the Celsius token rewards come across as being a bit better than Nexo token rewards.

Nexo Vs Celsius
Nexo Vs Celsius


Nexo Vs Celsius Safety

This is where we deal with questions like is Nexo legit and is Celsius wallet legit. Others include – is Celsius network safe, is Nexo safe, is Celsius wallet legit, and so on.

Now with regard to security, it is worth noting that both Nexo and Celsius are quite secure platforms.

One remarkable security feature we find in Celsius is the HODL mode. In this mode, users get to effectively freeze their assets for periods of time when they are not likely to be trading.

Celsius also has a PIN mechanism, and uses 2-factor authentication. That is on top of requiring manual verification for transactions beyond certain amounts, and email verification for certain major actions.

On its part, Nexo uses cold wallets, and some degree of user asset insurance.

Comparing Nexo vs Celsius with regard to security, one gets the feeling that Nexo is  a bit better. But Celsius also has some impressive security features.


Nexo User Interface Vs Celsius User Interface

While both Nexo and Celsius have reasonably good online interfaces, most people who have used both seem to be of the opinion that Nexo’s UI is better.

So smooth is Nexo’s interface that some people end up wondering, is Nexo a wallet? (Of course it is, but the UI makes it appear more user-friendly than one would expect).

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Therefore in the Nexo vs Celsius comparison with regard to user interface, Nexo seems to win. It is elegant, and simple enough even for absolute beginners. But Celsius’ UI is also quite good.


Nexo Mobile App Vs Celsius Mobile App

Both Nexo and Celsius have mobile apps that work well on Android and iOS.

There are those who find Nexo mobile wallet app richer in terms of aesthetics than Celsius’ app. But in terms of power/functions, one can hardly say that the Nexo mobile app is really superior to the Celsius mobile app.

All in all, both apps serve the purpose.

The only aspect in which the Nexo mobile app may come across as being better is in terms of the aesthetics. Simply put, Nexo’s mobile app seems to be much less ‘intimidating’ than Celsius mobile app.


Which Is Better Nexo Or Celsius?

There are some ways in which Celsius is better than Nexo. And there are some ways in which Nexo is better than Celsius.

With regard to things like the supported coins, customer service, payout convenience and interest on some crypto assets, Celsius seems to be better than Nexo.

But there are also ways in which Nexo seems to be better than Celsius. Those include to extent that Nexo offers ‘lines of credit’ (including through credit/debit cards) and to the extent that it charges no ACH or wire transfer fees. 

There is also the fact that Nexo’s app/web user interface seems to be so much better.


Final Verdict – Nexo Vs Celsius

Clearly, there is no obvious winner in the Nexo vs Celsius comparison. In some respects, Celsius is better than Nexo. And in some other respects, Nexo is better than Celsius.

What may be best is to identify the aspects that are important to you, then settle for the platform that is richer in those aspects.

Nexo Vs Celsius
Nexo Vs Celsius

Suppose, for instance, you want a ‘line of credit’ (through an actual credit card), with your crypto assets as collateral. Nexo may be better for you, in that case.

On the other hand, if you want a classical loan (where the whole amount is wired to your account upon approval), with your crypto assets as collateral, Celsius may be better.

There are also those who may advise you to ‘spread your risks’, by setting up accounts on both Nexo and Celsius, and then making use of both platforms.

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