What Are Fixed Terms?
The Fixed Terms functionality allows you to earn our highest savings yields on crypto and fiatX – if you choose to create a term on your cryptocurrencies and fiatX 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. When earning in kind, the interest on your Fixed Terms is compounding (APY), while when earning in NEXO, it is simple (APR).
Fixed Terms are not yet available for stablecoins, but we plan to make the addition in the near future as we continue enhancing our product line-up. For the time being, however, this means that you can earn the maximum interest on stablecoins (USDT, USDC, DAI, TUSD, USDP) without the need of locking those in term deposits.
Fixed Terms are also not available for Dogecoin.
NOTICE: Our former Earn offering across crypto, fiatX and stablecoins, which lets you withdraw funds at any time and brings you a unique daily payout, is now called FLEX Terms.
Due to changes applied, the exact interest rates, depending on the user’s Loyalty tier and bonuses applicable for fixed terms and/or earning in NEXO Tokens, are indicated on the Nexo platform.
Only the amount above the threshold in your current Loyalty level is impacted. The threshold applies for each asset separately, not your entire portfolio.
For example, if you are in the Base Loyalty level and have 60,000 USD worth of BTC in FLEX terms, you will be earning up to 4% annual interest on 50,000 USD, and up to 1% annual interest on the remaining 10,000 USD which are above the threshold.
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 "Manage Wallets":
After that, please click on the "Fixed Terms" link:
On the window that opens next, you will be able to see how much interest has been accumulated on your active Fixed Terms until now. If you changed the option of earning interest between in-kind and in NEXO Tokens, you will see both interests as seen below:
Important: Your assets, as well as the earned interest, will be unlocked between 7:00 am and 12:00 pm CET on the term's due date. For instance, if the due date is 10th April 2021, as shown in the screenshot above, the locked assets will be released on 10th April 2021, between 7:00 am and 12:00 pm 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 income stream. 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 ten (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 rollover 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 (unless 'Unlock Fixed Terms' is enabled)
- Cannot be used as collateral and loan repayments during the term
- Cannot be withdrawn until the term is over.
Why Fixed Terms?
With most 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. In doing so, you keep the upside potential of your assets, and you generate additional income.
Longer-term investments ensure the stability of the entire market. By entrusting your assets to our top-tier custodians that carry $375M in insurance protections and us, you are ensuring the resilience of your portfolio and helping us build the bank of the future.
What is the minimum amount required for opening a Fixed Term deposit?
Click here to view the minimum amount per asset required for the creation of a Fixed Term Deposit.
- Nexo Earn Product is not available for citizens or residents of certain jurisdictions, including where restrictions may apply, such as Bulgaria, Estonia and the USA
- After successfully topping up EUR/GBP/USD, we automatically exchange the amount’s equivalent to EURx, GBPx, USDx with a guaranteed 1-to-1 conversion rate. You earn up to 12% annual interest on your EURx, GBPx, USDx which is secured at all times by asset-backed portfolios of overcollateralized loans. Upon a withdrawal request, the equivalent of EURx, GBPx, USDx is automatically exchanged at the guaranteed 1-to-1 conversion rate and we send the funds back to you.