Nexo, a centralised cryptocurrency exchange established in Bulgaria in 2018, now operates from Switzerland in approximately 200 regions. Its offerings include spot and futures trading, peer-to-peer lending, cold wallet storage, and fiat on-ramps for purchasing crypto tokens. Nexo is registered with respected financial bodies like the ASIC. Additionally, it provides unique services, such as a credit card.
Gemini, established in 2014 by the Winklevoss brothers, is a prominent cryptocurrency exchange. It ranks among the top 20 globally, recognised for the founders' early ties to Facebook. Traders on Gemini have access to over 110 cryptocurrencies for trading and staking. In certain areas, derivatives trading is also available. The platform offers advanced proprietary tools and features, including an NFT marketplace.
Pros
A well-regarded crypto exchange, established in 2018, has initiated steps towards regulatory compliance.
Nexo Pro is an intuitive platform tailored for traders, offering robust charting tools that enhance strategic trading.
The trading platform features essential tools such as asset-specific newsfeeds and social media analysis.
Traders can utilise perpetual futures to take long or short positions on crypto assets, thereby enhancing strategic opportunities.
Nexo's platform facilitates cryptocurrency lending and borrowing through its staking and credit features, offering traders some of the most competitive yields in the market.
Traders receive bonuses and incentives, such as complimentary trading funds given to lenders and cashback through the exchange's native Nexo token.
The trading app boasts a modern, user-friendly design with an intuitive interface. It offers a superb selection of charting tools for traders.
The TradingView integration offers excellent tools, such as backtesting and algorithmic trading features.
The exchange mandates two-factor authentication for all crypto investors, ensuring robust security measures.
Crypto perpetual futures can be accessed in numerous regions, offering leverage of up to 1:100.
A good selection of educational guides and tutorials is available for novice traders.
Cons
While Nexo is registered with certain reputable regulators, trading with it carries more risk compared to established crypto brokers such as AvaTrade and Vantage.
High deposit and withdrawal fees for cards and e-wallets may deter many traders from using these convenient payment methods.
Limited educational resources diminish its attraction for newcomers, who may discover more valuable materials with leading platforms such as eToro.
Elevated maker/taker fees result in traders incurring higher costs for trading derivatives compared to competing exchanges such as Binance.
The selection of tokens is broad relative to many crypto brokers, yet it remains limited when compared to similar crypto exchanges such as Kraken.
The exchange's history includes troubling incidents, such as the failure of its Earn programme and a phishing attack.
The mobile app's 'convenience fee' appears arbitrary, reducing the feature's efficiency for traders.
Certain funding methods incur substantial fees, such as a 3.49% charge for card transactions.
Certain major cryptocurrencies by market capitalisation are unavailable for purchase on Gemini.
There is no practice or demo account available for prospective traders.
Awards
Best Cryptocurrency Wallet – FinTech Breakthrough Awards, 2023
Best Use of Crypto and/or Blockchain in Financial Services – PAY360 Awards, 2022
Best Cryptocurrency Exchange 2019 - Markets Choice Awards
Nexo provides trading services for approximately 70 tokens, including Bitcoin. Users can buy, sell, and exchange digital assets directly on the platform, with access to over 500 trading pairs. Additionally, these assets can serve as collateral for fiat loans or generate passive income through the ‘smart staking’ option and interest from peer-to-peer loans.
Gemini provides access to over 110 cryptocurrencies on its platform, supported by its own Gemini Dollar stablecoin and perpetual swap derivatives. The robust ActiveTrader system is tailored for online trading, offering numerous technical indicators across seven time frames.
