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Home Platforms Nexo vs Thorchain

Compare Nexo vs Thorchain

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Pros & Cons

tick Very simple & easy to use
tick No hidden fees
tick Interest paid daily
tick Earn higher savings rates by being paid interest in Nexo tokens
tick Earn further daily interest on accumulated Nexo tokens
tick Further interest rate enhancements for fixed terms of 1 to 12 months
tick Instant access accounts available for all currencies
tick No minimum monthly repayment amount on loans
tick Funds immediately start earning interest as soon as they are deposited
tick Proof of reserves verified by independent accountant
tick Advanced products available for high value investors
tick Nexo Pro provides an advanced exchange with prices aggregated from multiple third party exchanges
tick More reviews than Thorchain (1,247 vs 1 reviews)
tick Interface supports English, French, Korean, Japanese, Turkish, Portuguese-Portuguese, Spanish, Simplified Chinese, Russian and German whereas Thorchain doesn't
tick $119,319,800 USD currently invested (TVL)
tick Investments in 29 coin pairs available
tick Supports 7 protocols including Bitcoin Cash, Doge and Bitcoin
tick Higher average review rating than Nexo, but based on fewer reviews (94% vs 78%)
tick Thorchain is decentralised, but Nexo is not
tick Know your customer checks are required on Thorchain but not on Nexo
Staking Rates
tick Nexo will pay interest on 3 fiat currency deposits not offered by Thorchain:
Euros (EUR)
Pounds Sterling (GBP)
US Dollars (USD)
More ...
tick Nexo will pay interest on 6 stable coin deposits not offered by Thorchain:
2 more stakings rates pros ...
Staking Rates
tick Thorchain will pay interest on 28 crypto currency deposits not offered by Nexo:
AAVE-RUNE (AAVE-RUNE)
ATOM-RUNE (ATOM-RUNE)
AVA-RUNE (AVA-RUNE)
BCH-RUNE (BCH-RUNE)
BNB-RUNE (BNB-RUNE)
BTC-RUNE (BTC-RUNE)
BTCB-RUNE (BTCB-RUNE)
BUSD-RUNE (BUSD-RUNE)
DAI-RUNE (DAI-RUNE)
DOGE-RUNE (DOGE-RUNE)
DPI-RUNE (DPI-RUNE)
ETH-RUNE (ETH-RUNE)
FOX-RUNE (FOX-RUNE)
GUSD-RUNE (GUSD-RUNE)
LTC-RUNE (LTC-RUNE)
LUSD-RUNE (LUSD-RUNE)
SNX-RUNE (SNX-RUNE)
TGT-RUNE (TGT-RUNE)
THOR-RUNE (THOR-RUNE)
TWT-RUNE (TWT-RUNE)
UOS-RUNE (UOS-RUNE)
USDC-RUNE (USDC-RUNE)
USDP-RUNE (USDP-RUNE)
USDT-RUNE (USDT-RUNE)
WBTC-RUNE (WBTC-RUNE)
XDEFI-RUNE (XDEFI-RUNE)
XRUNE-RUNE (XRUNE-RUNE)
YFI-RUNE (YFI-RUNE)
More ...
cross As of Dec 2022 not available to customers in the US
cross Lack of transparency about where company is located
cross Slow customer service with no phone option
cross You no longer control access to any crypto with your own private wallet key
cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users
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Reviews

78% based on 1,247 reviews
94% based on 1 review
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Staking Rates

The table below compares the staking rates for Nexo and Thorchain.
Fiat Currencies
EUR Euros
5% - 15%
5% - 15%
GBP Pounds Sterling
5% - 15%
5% - 15%
USD US Dollars
5% - 15%
5% - 15%
Stable Coins
BUSD BUSD
8% - 14%
8% - 14%
DAI Dai
8% - 14%
8% - 14%
TUSD TrueUSD
8% - 14%
8% - 14%
USDC USDC
8% - 14%
8% - 14%
USDP Pax Dollar
8% - 14%
8% - 14%
9% - 16%
9% - 16%
Crypto Currencies
AAVE Aave
0.25% - 4%
0.25% - 4%
ADA Cardano
4% - 8%
4% - 8%
APE ApeCoin
4% - 9%
4% - 9%
ATOM Cosmos
6% - 11%
6% - 11%
AVAX Avalanche
7% - 12%
7% - 12%
16% - 30%
16% - 30%
4% - 8%
4% - 8%
BNB BNB
4% - 8%
4% - 8%
BTC Bitcoin
3% - 7%
3% - 7%
DOGE Dogecoin
<&nbsp;0.01% - 3%
<&nbsp;0.01% - 3%
DOT Polkadot
10% - 15%
10% - 15%
EOS EOS
4% - 8%
4% - 8%
ETH Ethereum
4% - 8%
4% - 8%
FTM Fantom
2% - 7%
2% - 7%
KSM Kusama
7% - 12%
7% - 12%
LINK Chainlink
3% - 7%
3% - 7%
LTC Litecoin
4% - 8%
4% - 8%
MATIC Polygon
1% - 7%
1% - 7%
5% - 10%
5% - 10%
NEXO Nexo
4% - 12%
4% - 12%
PAXG PAX Gold
3% - 7%
3% - 7%
SOL Solana
4% - 8%
4% - 8%
TRX TRON
4% - 8%
4% - 8%
XLM Stellar
4% - 8%
4% - 8%
XRP XRP
4% - 12%
4% - 12%
Loading rates ...
Fiat Currencies
Stable Coins
Crypto Currencies
AAVE-RUNE AAVE-RUNE
32%
32%
ATOM-RUNE ATOM-RUNE
46.8%
46.8%
AVA-RUNE AVA-RUNE
9.78%
9.78%
BCH-RUNE BCH-RUNE
56.8%
56.8%
BNB-RUNE BNB-RUNE
32.8%
32.8%
BTC-RUNE BTC-RUNE
160%
160%
BTCB-RUNE BTCB-RUNE
30.1%
30.1%
BUSD-RUNE BUSD-RUNE
48%
48%
DAI-RUNE DAI-RUNE
30.1%
30.1%
DOGE-RUNE DOGE-RUNE
49.8%
49.8%
DPI-RUNE DPI-RUNE
8.19%
8.19%
ETH-RUNE ETH-RUNE
29.4% - 122%
29.4% - 122%
FOX-RUNE FOX-RUNE
13.1%
13.1%
GUSD-RUNE GUSD-RUNE
15.8%
15.8%
LTC-RUNE LTC-RUNE
106%
106%
LUSD-RUNE LUSD-RUNE
29.3%
29.3%
SNX-RUNE SNX-RUNE
27.8%
27.8%
TGT-RUNE TGT-RUNE
17.2%
17.2%
THOR-RUNE THOR-RUNE
12.2%
12.2%
TWT-RUNE TWT-RUNE
14.2%
14.2%
UOS-RUNE UOS-RUNE
8.07%
8.07%
USDC-RUNE USDC-RUNE
55.4%
55.4%
USDP-RUNE USDP-RUNE
23.4%
23.4%
USDT-RUNE USDT-RUNE
139%
139%
WBTC-RUNE WBTC-RUNE
11.6%
11.6%
XDEFI-RUNE XDEFI-RUNE
23.6%
23.6%
XRUNE-RUNE XRUNE-RUNE
5.35%
5.35%
YFI-RUNE YFI-RUNE
9.98%
9.98%
Loading rates ...
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Company

Legal name
Nexo Services OÜ
Legal name
Year founded
2018
Year founded
2018
Country incorporated in
77
Country incorporated in
Headquarters country
42
Headquarters country
Platform token
Nexo
Platform token
THORChain
Decentralised
cross No
Decentralised
tick Yes
Number of employees
101-250
Number of employees
Number of users
100,000,000
Number of users
Total assets under management
$5,000,000,000USD
Total assets under management
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Products

Savings accounts
tick Yes
Savings accounts
Loans
tick Yes
Loans
Crypto to crypto exchange
tick Yes
Crypto to crypto exchange
Fiat to crypto exchange
tick Yes
Fiat to crypto exchange
Pro exchange marketplace
tick Yes
Pro exchange marketplace
Peer to peer exchange
cross No
Peer to peer exchange
Margin trading
tick Yes
Margin trading
Corporate accounts
tick Yes
Corporate accounts
Instantly buy crypto with fiat
tick Yes
Instantly buy crypto with fiat
Integrated crypto wallet
tick Yes
Integrated crypto wallet
Crypto withdrawals to private wallet
tick Yes
Crypto withdrawals to private wallet
Fast account verification
tick Yes
Fast account verification
Futures exchange
tick Yes
Futures exchange
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Security

Insurance level
$775,000,000USD
Insurance level
Cold storage
tick Yes
Cold storage
Cold storage custodian
BitGo, LedgerVault
Cold storage custodian
Crypto security standard
Level 3
Crypto security standard
Two factor authentication
tick Yes
Two factor authentication
Loan over collateralisation percent
200%+
Loan over collateralisation percent
Credit check
cross No
Credit check
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Support

24/7 support
tick Yes
24/7 support
Email support
tick Yes
Email support
Phone support
cross No
Phone support
Chat support
cross No
Chat support
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Fees

Exchange fees
0% exchange fee
Exchange fees
Fiat deposit fee
tick Free
Fiat deposit fee
Fiat withdrawal fee
tick Free
Fiat withdrawal fee
Crypto deposit fee
tick Free
Crypto deposit fee
Withdrawal process
Nexo does not use separate current (chequeing) and savings accounts. All deposits are automatically held in savings accounts and start earning interest immediately. This means that when you need to make a withdrawl there is no need to first move the funds out of the savings account and in to the current account. Withdrawls are processed automatically so the time from you initiating the withdrawl on Nexo to the time the withdrawl action is requested on the blockchain is normally just a minute or so. The time for the withdrawl to be confirmed on the blockchain depends on the specific cryptocurrency. There is a withdrawl limit of $500,000 per day. Your first couple of withdrawls every month attract no fees. This means Nexo is effectively paying the network fee for you. The number of free withdrawls depends on your loyalty level. In our tests, withdrawls from Nexo have been consistently fast and effortless. Nexo has never frozen withdrawls on any of its currencies.
Withdrawal process
Crypto withdrawal fee
Withdrawl fees vary by loyalty level:
Base level - 1 free crypto withdrawl per month
Silver - 3 free crypto withdrawls per month
Gold - 5 free crypto withdrawls per month
Platinum - 15 free crypto withdrawls per month
Crypto withdrawal fee
Savings crypto account withdrawal limit
$500,000 per day
Savings crypto account withdrawal limit
Loan crypto account withdrawal limit
$2,000,000 per day
Loan crypto account withdrawal limit
Savings fiat account withdrawal limit
$100,000 per day
Savings fiat account withdrawal limit
Loan fiat account withdrawal limit
$2,000,000 per day
Loan fiat account withdrawal limit
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Investment Strategy

Liquidity pools
cross No
Liquidity pools
DeFi products
cross No
DeFi products
Unsecured loans
cross No
Unsecured loans
Independent proof of reserves
tick Yes
Independent proof of reserves
Proof of reserves
Nexo has contracted with Armanino, a top 20 Us accounting firm, to independently audit Nexo's assets and customer liabilities and to verify that the assets exceed customer liabilities. This verification can be checked live on Armanino's website.
Proof of reserves
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Registrations & Regulation

Know your customer
tick Yes
Know your customer
cross No
Regulators
Regulated in Estonia, Switzerland and the Cayman Islands
Regulators
Financial Crimes Enforcement Network
tick Yes
Financial Crimes Enforcement Network
ISO 27001 Information Security Management
tick Yes
ISO 27001 Information Security Management
System and Organization Controls (SOC2) Type 1
tick Yes
System and Organization Controls (SOC2) Type 1
System and Organization Controls (SOC2) Type 2
tick Yes
System and Organization Controls (SOC2) Type 2
CryptoCurrency Security Standard (CCSS) Level 3
tick Yes
CryptoCurrency Security Standard (CCSS) Level 3
Kansas - Office of the State Bank Commissioner - Supervised Loan License
tick Yes
Kansas - Office of the State Bank Commissioner - Supervised Loan License
New Hampshire - Banking Department - Money Transmitter License
tick Yes
New Hampshire - Banking Department - Money Transmitter License
Oregon - Division of Financial Regulation - Money Transmitter License
tick Yes
Oregon - Division of Financial Regulation - Money Transmitter License
Arizona - Department of Insurance and Financial Institutions Consumer Lender License
tick Yes
Arizona - Department of Insurance and Financial Institutions Consumer Lender License
California - Department of Financial Protection and Innovation - Financial Lender License
tick Yes
California - Department of Financial Protection and Innovation - Financial Lender License
District of Columbia - Department of Insurance, Securities and Banking - Money Lender License
tick Yes
District of Columbia - Department of Insurance, Securities and Banking - Money Lender License
Idaho - Department of Finance - Regulated Lender License
tick Yes
Idaho - Department of Finance - Regulated Lender License
Illinois - Department of Financial and Professional Regulation - Consumer Instalment Loan License
tick Yes
Illinois - Department of Financial and Professional Regulation - Consumer Instalment Loan License
Minnesota - Department of Commerce - Regulated Loan Company License
tick Yes
Minnesota - Department of Commerce - Regulated Loan Company License
Mississippi - Department of Banking and Consumer Finance - Money Transmitter License
tick Yes
Mississippi - Department of Banking and Consumer Finance - Money Transmitter License
Missouri - Division of Finance - Sale of Checks & Money Transmitter License
tick Yes
Missouri - Division of Finance - Sale of Checks & Money Transmitter License
Montana - Division of Banking and Financial Institutions - Consumer Loan License
tick Yes
Montana - Division of Banking and Financial Institutions - Consumer Loan License
New Hampshire - Banking Department - Small Loan Lender License
tick Yes
New Hampshire - Banking Department - Small Loan Lender License
Oregon - Division of Financial Regulation - Consumer Finance License
tick Yes
Oregon - Division of Financial Regulation - Consumer Finance License
Utah - Department of Financial Institutions - Registered Lender
tick Yes
Utah - Department of Financial Institutions - Registered Lender
Wyoming - Department of Audit - Supervised Lender License
tick Yes
Wyoming - Department of Audit - Supervised Lender License
Financial Transactions and Reports Analysis Centre of Canada - Money Service Business Registration
tick Yes
Financial Transactions and Reports Analysis Centre of Canada - Money Service Business Registration
Swiss Financial Market Supervisory Authority - Affiliate Member of the SRO "So-Fit" Geneva
tick Yes
Swiss Financial Market Supervisory Authority - Affiliate Member of the SRO "So-Fit" Geneva
Australian Securities and Investment Commission - Registration as Foreign Company
tick Yes
Australian Securities and Investment Commission - Registration as Foreign Company
Australian Transaction Reports and Analysis Centre - Registration as Reporting Company
tick Yes
Australian Transaction Reports and Analysis Centre - Registration as Reporting Company
Companies Registration - Trust or Company Service Provider License
tick Yes
Companies Registration - Trust or Company Service Provider License
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Important Message Definda does not provide any financial advice. All information is provided for research purposes only. DeFi is a rapidly evolving industry. Most businesses in the sector are very young and it is possible that some of them could go out of business in the future. Such an event could result in the loss of your investment. You should do your own research or consult a financial advisor before investing any money. Please read and satisfy yourself with our terms before continuing to use our website. We offer a free impartial comparison service of savings, loans and other DeFi products. We may receive a small commission from some of the companies listed, but this never influences our rankings. If you spot any errors in the information listed then please contact us at info@definda.com.

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