Matrixport vs Nexo Features 

Matrixport is an all-inclusive cryptocurrency exchange providing a vast range of crypto earning options for its users. Namely, you can venture into buying, selling, trading, borrowing or lending crypto assets, as well as earning interest by staking your own. This means that you can start with simple trades, before moving up to utilizing the full potential of your crypto assets while using the platform’s plethora of services available.

Matrixport’s registration process is simple and straightforward, with a nicely designed interface and a huge amount of promotional packages and guides. Even though a platform’s customer support is not high on the list of priorities for a lot of users, it’s worthwhile knowing that whenever you stumble upon an issue, you’ll be safe in the knowledge that it can be answered and corrected almost immediately.

What’s more, you can instantly buy crypto using just your own debit or credit card or make purchases using bank wire transfers. If you want to earn interest on the crypto you own, you can do so with Matrixport, especially since they offer a 15% APY fixed interest rate. This is a significant boost and a major asset, as other crypto exchanges go only as far as offering up to 10%. Matrixport will also boost your investment by giving you $15 USD FREE when you sign up with this link and deposit $300.

Additionally, you can find many assistance guides, FAQ sections, and general help while browsing the app, as well as the option to give liquidity to pools in an effort to earn more money.

Nexo, on the other hand, is not your classic crypto exchange. Here, you can sign up for a savings account, get a Nexo card, and acquire crypto loans. You can earn up to 8% interest on crypto and 12% on stablecoins, with daily compounded interest and a daily payout option available. This is a significant percentage that can boost your returns with immediate impact. In addition, you receive $25 FREE Bitcoin when you sign up here and deposit just $100 worth of crypto.

If you decide to get the Nexo card, you can use it to spend your crypto easily, and it comes with benefits such as 0.5% cash back in BTC or 2% cash back in NEXO tokens. The Nexo card also integrates with Apple and Google payments, making it convenient for users.

Nexo also has its own token (called NEXO), which you can purchase and trade. In return, you’ll receive higher crypto interest rates possible and additional free withdrawals per month as you advance through the loyalty levels, depending on how much NEXO tokens you hold.

Furthermore, Nexo allows you to borrow stablecoins or cash without credit checks and without the need to sell your own crypto. You can borrow amounts ranging from $50 up to $2 million or until you hit the credit limit. This is particularly handy when you’re sure that your next investment might give you incredible returns, so you can immediately jump at the opportunity to profit.

Matrixport vs Nexo Fees

Every crypto platform has certain fees that are applicable in order to maintain its performance, and these two are no exception.

Matrixport doesn’t have crypto deposit fees, and its instant trading feature comes with no charge either. The trading fees are built into the spread, so there is no additional commission to pay.

However, if you wish to conduct international bank transfers, then you’d be charged anywhere between $20 and $50, and if you conduct purchases via debit or credit cards, the fee is 3.5%. Crypto withdrawals vary depending on the asset, while fiat withdrawals come with a $30 fee.

Nexo, on the other hand, has no fiat withdrawal or deposit fees, and no crypto deposit fees from other wallets onto Nexo’s wallet. You’ll also receive 1 to 5 free crypto withdrawals per month as you advance through Nexo’s loyalty levels.

Moreover, there are no early payoff fees and no origination fees. Where Nexo truly excels, though, is in the limits department. Namely, there are no limits to fiat withdrawals and, most importantly, no limits to crypto transfers.

Number of Cryptocurrencies

Matrixport supports more than 15 cryptocurrencies, while Nexo offers twice as many, with support being available for 34 in total.

What both platforms have in common is the support for the most popular coins. This means you’ll find Bitcoin, Ethereum, USD Coin, and USD Tether, among the rest.

Matrixport vs Nexo Security

Online security is of great importance, especially in the crypto world which is unregulated. With that in mind, you can rest assured that your assets and data are protected on whichever of these two platforms you consider signing up on.

Matrixport offers two factor authentication (2FA) and fingerprint scan security. Each transfer or purchase you make on this platform is subject to an identity verification in order to prevent any fraudulent activities.

The platform employs a cold wallet storage system, with all assets being secured offline by Cactus Custody. It adheres to AML guidelines, and there are also ISO 27001 and S-SDLC security standards in place.

Nexo complies with the same AML guidelines but also adheres to global KYC standards. This platform prioritises security unlike any other and is among the crypto lending leaders in terms of safety.

Nexo employs features such as biometric identity verification, cold wallets, and a powerful firewall server architecture. Moreover, users’ data is safeguarded in a Class III bank grade vault, with Ledger Vault being the custodian.

Similarly to Matrixport, this platform also utilises two factor authentication, login alerts, and withdrawal confirmations.

Verdict - Nexo

Matrixport and Nexo differ from each other in essential features that make each of them stand out in their own right. Additionally, both offer support for a limited number of cryptocurrencies, albeit them being the most popular ones.

With that in mind, you should choose Matrixport if you’re looking to gain access to all sorts of investment features, especially if you wish to buy, sell, or trade your crypto.

Meanwhile, Nexo should be your choice if your top priorities when it comes to investment features are lending and borrowing, as this platform excels in this area. The good thing about both companies is that they adhere to each respective region’s security standards and employ top grade safety features and protocols.

However, Nexo wins since it’s a more established company, with industry-leading security, lower fees, and more coins on offer.

Still Researching?

If you are looking for other options to earn interest on your crypto, you can have look at our review on Matrixport (here) and Nexo (here), or this article on the best crypto interest accounts.