Generating passive income is one of the key benefits of the Nexo platform. With its Earn feature, Nexo allows you to earn daily interest on your crypto, fiat, and stablecoin holdings without actively trading or selling your assets. This guide will walk you through everything you need to know to maximize your passive income with Nexo.
1. Create and Verify Your Nexo Account
To begin earning passive income, you first need to create a Nexo account and complete the verification process.
- Step 1: Go to the Nexo website and sign up for a new account.
- Step 2: Complete the identity verification (KYC) process to unlock full platform features and higher interest rates.
- Step 3: Secure your account by enabling two-factor authentication (2FA) for enhanced security.
2. Deposit Your Assets
Once your account is verified, deposit your cryptocurrency, stablecoins, or fiat currency to start earning interest.
- Step 1: Navigate to the Wallet section of the Nexo platform.
- Step 2: Select the asset you want to deposit—Nexo supports a wide range of cryptocurrencies such as BTC, ETH, LTC, USDT, USDC, and more, as well as fiat currencies like EUR and GBP.
- Step 3: Transfer funds from an external wallet, bank account, or crypto exchange.
3. Earn Interest Automatically
Nexo’s Earn feature begins working as soon as your assets are deposited. You’ll start earning interest immediately, with daily payouts.
- Interest Rates: Nexo offers up to 12% APY on stablecoins and fiat currencies, and up to 8% APY on popular cryptocurrencies like Bitcoin and Ethereum. If you hold NEXO Tokens, you can increase your APY to 14%.
- Compounding Interest: Interest is paid daily, and it compounds, meaning you earn interest on your interest over time.
4. Boost Your Earnings with Nexo’s Loyalty Program
Holding NEXO Tokens boosts your interest rates and provides additional rewards through the Nexo Loyalty Program. The more NEXO Tokens you hold, the higher your loyalty tier, which impacts your earning potential.
- Base Tier: No NEXO required, but you still earn interest.
- Silver Tier: Hold at least 1% of your portfolio in NEXO Tokens to increase your APY by 0.25%.
- Gold Tier: Hold at least 5% in NEXO Tokens to increase your APY by 0.50%.
- Platinum Tier: Hold at least 10% in NEXO Tokens to increase your APY by 1.00%.
Holding NEXO Tokens not only boosts your interest rates but also provides other benefits, like higher cashback rewards on the Nexo Card and lower borrowing rates.
5. Borrow Against Your Crypto Without Selling
One of Nexo’s most unique features is its ability to allow you to borrow against your crypto holdings while still earning interest on them.
- Step 1: Use your deposited crypto as collateral to open a credit line.
- Step 2: Borrow fiat or stablecoins while your crypto continues to earn interest in your Nexo account.
- Step 3: Repay the loan at any time—there are no fixed payment schedules.
This feature provides liquidity without forcing you to sell your crypto, allowing you to continue benefiting from potential asset appreciation while generating passive income.
6. Use the Nexo Card to Earn Cashback and Interest Simultaneously
With the Nexo Card, you can spend your crypto or fiat globally, while continuing to earn interest on your assets. The card also rewards you with up to 2% cashback in NEXO Tokens or BTC on every purchase, adding another layer to your passive income strategy.
- Step 1: Order your Nexo Card through the Nexo app.
- Step 2: Use the card for everyday purchases and get instant cashback.
- Step 3: Keep earning interest on your unused crypto assets.
7. Reinvest Your Earnings for Maximum Growth
To truly maximize your passive income, reinvesting your daily interest payouts back into the platform can accelerate your portfolio growth.
- Step 1: Allow your interest to accumulate and reinvest into your Nexo account to earn compound interest over time.
- Step 2: Consider diversifying your portfolio by adding more assets to increase your earning potential across various cryptocurrencies and stablecoins.
8. Track Your Earnings with Nexo’s Dashboard
Nexo provides a detailed dashboard that allows you to monitor your earnings in real time. You can track interest payouts, asset performance, and overall portfolio growth.
- Step 1: Check the dashboard for daily updates on how much interest you’ve earned.
- Step 2: Use Nexo’s detailed reports to assess the performance of your assets and interest income.
By following these steps, you can easily use Nexo to generate passive income and grow your cryptocurrency portfolio. Whether you're holding crypto long-term or just looking for a secure way to earn high interest on your stablecoins, Nexo’s Earn feature offers an effortless way to maximize your returns.
Start earning passive income today by signing up to Nexo