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Nexo vs. BlockFi vs. Celsius Network: 1 year later
Just over one year ago, I began researching and using the crypto lending platforms Nexo, BlockFi, and Celsius. Saying that I am happy with the results would be an understatement. I earned more interest in the past year from these platforms than I’ve earned in 25 years (combined) in savings accounts.
Plenty of changes have occurred over the year and my strategies have adjusted in response to these changes. Here’s an update on some observations and thoughts regarding this space. Note that I have only used these platforms for lending and can not comment on the borrowing experience.
Nexo- Nexo has grown to over 2 million users worldwide. They have a native token, NEXO, which rewards its holders with preferred rates on the lending and borrowing platform. Your loyalty tier is determined by the percent of NEXO held in your Nexo wallet. Below are the current loyalty levels and benefits.
If you are outside of the US, you have the option of earning your interest in the form of NEXO tokens and getting a 2% bonus. The price of the NEXO token has been volatile over the past year ranging from $0.12 to a high of $4.07. Currently, it is trading at $1.56.
