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How to take out a loan in stablecoins?

In order to take out a loan in stablecoins, you simply need to click the "Borrow" button on the Account page.

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Kindly note that loan withdrawals in USDT and USDC are automatically placed into your Nexo wallet. The respective balance will be immediately updated, and you will then be able to either convert the assets in our exchange or withdraw them to an external wallet. Keep in mind that the number of free withdrawals depends on our loyalty tier, as explained in this article

The message below will appear as soon as you select one of the available stablecoins options: 

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Enter the desired withdrawal amount and do not forget to read and agree to the Nexo Crypto Credit General Terms and Conditions in order to submit your loan withdrawal request. It's important to note that the "Withdraw" button will not be active until you tick the box that you agree to the terms and conditions.

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After that, please provide your 2FA (Two-Factor Authentication) code.

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Congratulations! You have successfully taken out a loan in stablecoins (USDT or USDC), and your USDT or USDC balance on your Nexo account has been updated automatically to reflect the new amount.

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Please check this article to find out how to take out a loan in fiat currencies.

 

You should also know that:

  • Interest is added to your outstanding balance daily at 00:00 CET
  • The interest applied to your loans is compound interest i.e. it is calculated based on both the initial principal and the accumulated interest
  • The minimum interest charge is 0.01 USD
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