Nexo Withdrawal Fees: How Much Will You Pay to Get Your Money Out?

Nexo is a cryptocurrency loan company that has been gaining popularity in recent years. It is one of the highly-advanced and regulated digital assets platforms that offer quick loans for 40+ cryptocurrencies with Nexo being one of the first companies to offer this service. It also has the world's first cryptocurrency-backed credit card that gives you cashback in Nexo tokens. Most importantly, you will love its intuitive crypto exchange backed by Credissimo - a leading European FinTech Group.

While Nexo is a great company with many features, one thing to be aware of is its withdrawal fees. So, how much will you pay to get your money out of Nexo?

 In this article, we'll take a look at Nexo's withdrawal fees and how they compare to other companies.

Nexo Withdrawal Fees for Crypto, Credit Line, and FiatX Withdrawals

With Nexo, you get a free withdrawal limit. Depending on your Loyalty Tier, Nexo offers 1-5 monthly crypto withdrawals to its users. Once that limit is consumed, the platform will start charging a fee for every withdrawal.

 With that said, all crypto transfers between Nexo accounts are unlimited, instant, and free of charge as long as you are within the limits. The total number of free withdrawals you get depends on the type of plan you have opted for.

Essentially, there are four major types of plans offered by Nexo:

1. Base - 1 free crypto withdrawal per month
2. Silver - 2 free crypto withdrawals per month
3. Gold - 3 free crypto withdrawals per month
4. Platinum - 5 free crypto withdrawals per month

Please note that these free withdrawals are sent to your external wallets that are feeless. And because all your monthly crypto withdrawals are off-chain, the Internal Nexo transfers do not influence the transaction.

 The fee charged after the limit is over will depend on various factors. For starters, the fee is not fixed and is highly influenced by the market condition of the blockchain. At the time of withdrawal, you will see the total amount to be deducted, including the Nexo token withdrawal fee and the network fee.

 Each month, Nexo resets the limit, allowing the users to make another set(s) of free withdrawal(s).

 When it comes to Credit Line and FiatX, Nexo doesn't charge a single penny from its users. Under its #ZeroFees policy, you can make unlimited FiatX and Credit Line withdrawals and transfers into your Nexo Wallet.

On the other hand, the platform also doesn't charge any credit line forex, origination, and exchange fees.

Nexo Loyalty Tier - What is the Nexo Loyalty Program?

A 4-tier system, Nexo Loyalty Program comprises Base, Silver, Gold, and Platinum levels. The benefits of each level depend on the amount of Nexo tokens you hold in your Nexo Credit Line and Savings wallets. This is also known as the Portfolio Balance.

The Portfolio Balance is the total amount in your Credit Line and Savings Wallets.

The Nexo Loyalty Tier works in the following way:

●     Base: No Nexo tokens are required to maintain the portfolio

●     Silver: 1% of the Portfolio Balance should be Nexo tokens

●     Gold: 5% of the Portfolio Balance should be Nexo tokens

●     Platinum: 10% of the Portfolio Balance should be Nexo tokens

The benefits of the Nexo Loyalty Program are lucrative. For starters,

1. The more Nexo tokens you hold, the lower will be your borrowing rates
2. Increased yields on Nexo Savings Account
3. No platform fees for Nexo Credit Line

As you can see, the Nexo Loyalty Program is designed to benefit both new and existing users. So, if you're looking to get the most out of Nexo, make sure you hold Nexo tokens in your Credit Line and Savings wallets.

Nexo Withdrawal Fees: Conclusion

Nexo withdrawal fees rely heavily on several factors, like market conditions of the blockchain, etc. Fortunately, depending on your loyalty level you have a certain number of free withdrawals each month. To find out more about this broker, read or Nexo review and if you don't think it's the right fit for you, go to our crypto exchange comparison page to find the best platform for your needs.