What Are Fixed Terms?
The new Fixed Terms functionality allows you to earn our highest savings yields – 8% on crypto and 12% on fiat – if you choose to create a term on your cryptocurrencies and fiat for 1 and 3 months, respectively. The exact fixed-term yields you earn depend on whether you receive your interest in kind or in NEXO Tokens, as well as on your Loyalty tier. Fixed Terms are not yet available for stablecoins, but we plan on making the addition in the near future as we continue to enhance our product line-up.
NOTICE: Our former Earn offering across crypto, fiat, and stablecoins, which lets you withdraw funds at any time and brings you a unique daily payout, is now called FLEX Terms.
Please be informed that you can EARN the maximum interest on stablecoins (USDT, USDC, DAI, TUSDT, PAX, HUSD) without the need of locking those in term deposits. In other words, term deposits are not applicable to stablecoins.
What percentage can I get on term and flex deposits:
1. Percentage applicable to one-month term deposits:
2. Percentage applicable to three-month term deposits:
How Do Fixed Terms Work?
When you choose to create a Fixed Term, your interest compounds daily, like with our FLEX Terms. As for the payout, regardless of whether in kind or in NEXO, you will receive all your interest earned for the duration of the term in a single payout at the end of the period.
Below is an illustrative example of how your Bitcoin savings account would look when you simultaneously use our FLEX and Fixed Terms:
Where can I see how much interest I have accumulated on my term deposit?
Please navigate to your FIXED TERM deposit by clicking on the "Managed wallets":
after that, please click on the "Fixed Terms" link:
and you will be able to see how much interest was accumulated on your active Fixed Terms until now. If you changed the option of earning interest between "in-kind" and "NEXO Tokens", you will see both interests as seen below:
Important: Your assets, as well as the earned interest, will be unlocked on the day after the due date at 4:00 am CET. For instance, if the due date is 10 Apr 2021, as shown in the screenshot above, the locked assets will be released on 11 Apr 2021 between 4:00 and 9:00 am CET.
What Are the Benefits of Fixed Terms?
As the crypto space becomes increasingly long-term-focused, there is a pressing need for financial products that guarantee a stable stream of income. Our Fixed Terms provide just that, along with:
Combine Fixed Terms’ stable, high-yield returns for your mid- and long-term goals with FLEX Terms’ daily interest payouts and flexibility to withdraw funds at any time.
- Flexible HODLing
You can have 10 simultaneous Fixed Terms per asset, which means you never miss an opportunity to buy and add more assets to your Nexo Wallet to earn our highest yields.
- Extended Yield
By enabling “Automatic Renewal”, you can effortlessly roll over your initial Fixed Terms balance for an additional period of one or three months.
- Industry-leading Rates
Our Fixed Terms savings yields far outshine those of traditional banks and crypto lenders that offer interest-bearing accounts. Thus, we ensure you get the most bang for your buck.
Fixed Terms balances:
- Must be held to the end of the fixed term
- Are protected against liquidation while the term lasts
- Cannot be used as collateral and loan repayments during the term
- Cannot be withdrawn until the term is over.
Why Fixed Terms?
With the majority of our clients – at 72% – claiming they are planning to HODL their digital assets for three or more years in a recent survey, there is increasing evidence that the crypto space is evolving towards a more mature, long-term-focused industry.
By our very nature, we are an enabler of this strategy because we allow you to keep your cryptocurrencies and earn high-yield passive income and take out a credit line against them without selling. In doing so, you keep the upside potential of your assets, you generate additional income, and you can finance any purchase that requires access to fiat currencies.
Longer-term investments ensure the stability of the entire market. By entrusting your assets to us and our top-tier custodians that carry $375M in insurance protections, you are ensuring the resilience of your portfolio and helping us build the bank of the future.
Note: Please be aware that Earn in NEXO is currently not available to US citizens and residents due to regulatory restrictions.