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.
Kraken is a top cryptocurrency exchange featuring a specialised trading platform and over 220 cryptocurrency tokens. Traders can access up to 1:5 leverage for spot trading with consistent rollover fees, and up to 1:50 for futures trading. The platform additionally offers crypto staking and hosts an engaging 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.
Has maintained an excellent security history with no breaches over the past ten years since inception.
An impressive selection of over 220 well-established cryptocurrencies.
NFT marketplace and crypto staking offered for traders.
Excellent trading platform and mobile app.
Kraken Pro offers competitive trading fees.
50x leverage on futures trading enables traders to multiply potential returns by borrowing funds. This allows traders to control larger contract sizes with a smaller capital outlay. With increased leverage, the risks and rewards are both amplified, requiring careful risk management.
Minimum deposit requirement is only $10.
3D secure is necessary.
Unlocking the world of mobile investing offers traders a convenient platform to buy and sell assets. With intuitive apps, investors swiftly execute trades, analyse market trends, and manage portfolios. Mobile platforms empower users by providing real-time data and seamless access to financial markets. This modern approach enhances flexibility, allowing traders to respond instantly to market changes. For the savvy trader, mobile investing significantly streamlines the investment process, making it an indispensable tool in today’s fast-paced financial environment.
Crypto staking
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.
Delayed verification for Pro accounts.
Limited support for newer altcoins.
Minimal leverage in spot trading.
Does not accept deposits in traditional currency.
Slow processing times
Awards
Best Cryptocurrency Wallet – FinTech Breakthrough Awards, 2023
Best Use of Crypto and/or Blockchain in Financial Services – PAY360 Awards, 2022
Kraken Futures is integrated in other platforms which have bots: Bookmap, Caspian, FMZ Quant, Gunbot, HaasOnline, Hyndor, Margin
Copy Trading
No
No
Social Trading
No
No
VPS Hosting
No
No
Tournaments
No
No
Demo Competitions
No
No
Ethical Investing
No
No
Custodial Account
No
No
Guaranteed Stop Loss
No
No
Islamic Account
No
No
Account Currencies
USD
EUR
GBP
USD
EUR
GBP
CAD
AUD
JPY
CHF
Cryptocurrency
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.
Kraken is a dedicated crypto exchange offering over 220 cryptocurrencies, including major tokens like Bitcoin and various altcoins. Traders can engage in spot markets with leverage of up to 5:1, or in futures markets with leverage up to 50:1. The platform provides low fees and is highly user-friendly.
