Today I was thrilled to see that Nexo introduced instant crypto & fiat exchange directly in the Nexo wallet! This is great news for me (and probably all other Nexo users) because it saves the hassle of comparing the fees of other exchange platforms before sending the transaction through an external exchange platform. Plus, it’s been a while since this functionality has been promised so it’s nice that they actually delivered.
Nexo’s service is connected to multiple exchanges and finds you the best price to do it straight in the wallet. It enables exchange with more than 75 fiat & crypto pairs.
In the crypto range you can chose from the most common like BTC/USDT, BTC/ETH, plenty of Ethereum, Litecoin, EOS, Tron, Chainlink, PAXG, BCH, BNB and Stellar pairs, as well as free Nexo/BTC, Nexo/ETH and Nexo/USDT swaps.
There are also stablecoin pair options with USDT, USD Coin, PAX, TrueUSD, DAI and HUSD, as well as fiat options with Euro and British Pound.
The great thing about this exchange service is that the transaction is instant so there are no price fluctuations after you place an order. That's especially convenient in case you're exchanging to Nexo to have 10% of your funds in this specific coin in order to earn higher interest. (The last time I exchanged funds from ETH to Nexo, I had to add a little more just in case the fees go up.)
I tried exchanging on the phone and the app is very practical – in the process you can quickly select 25%, 50% or 100% of your available funds with a click of a button, or type the value in USD to have a better idea of how much you’re trying to swap (seeing it as USD 200.00 is way more user-friendly than ETH 0.14009820, right?).
It’s also convenient for ones that are exchanging higher amounts or doing more swaps per day, as there’s no upper limit on the number of swaps and it allows up to $50,000 per single transaction.
The next thing on Nexo I’m really looking forward to is their Nexo Card that’s promising to offer payments from the available balance of your Instant Crypto Credit Line – meaning you don’t have to sell your crypto assets to pay. As a travelling freelancer it's not the easiest thing for me to get a credit card (which I normally don't use anyways but sometimes that's the only available payment option with certain merchants), and I would find this type of an actual card extremely useful.
Very nice feature and very practical indeed!
Nice ! Thank you for sharing.
I was stuck with an amount of USDT there, now I could exchange it to BTC without fees.
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This is good news! Curious what the exchange rate is. Was it around 3% for you?
You mean the fee? For any coin to Nexo there is none. I didn't try exchanging to other coins yet, though..
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I tried this new feature today and I love it. So easy and fast. Looking forward to the card as well 😊
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We just need a card then the bank account is obsolete.
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