Quite simply I moved from NY to TN and also needed to change my email address since it was pointed at a company I am no longer operating. They first locked the account because the rules in NY changed... so I have jumped through all the hoops to change that and the email address included providing multiple proving documents, including my license ad well as a video explaining the changes requested while giving the date and holding my license.
At the end of it all they claimed to have updated my account but have not done so and now they are asking me to start over and submit all the info again. This has gone on long enough they are making account updates intentionally difficult because they are struggling and want to stop people like me from moving their funds off the platform... it's simple fraud and all their licenses should be revoked. (FYI the TN license appears to be fraudulent since the link to TN finance has no record of their company.)
At this stage, it seems like a lightly veiled scam to be honest.
I did a large loan and repaid it the next day. I was warned about minimum 30 day interest charge, but then they charged double the correct rate (I had bought 16,000 NEXO tokens to get the Platinum interest rate.)
I then lost an obscene amount of money trying when I sold the NEXO tokens - in less than 24 hours!! I'm not going to try it a second time, but I think their SWAP system has no slippage limits, and is stacked to stop you being able to withdraw your NEXO tokens.
On smaller items, the website is unstable. When repaying my loan, after only 24 hours, it quoted different amounts each time I refreshed the page. And it took 3 repayments of continuously rising interest unless it let me release the secured ETH tokens.
I like their product proposal, and was surprised that after being established for a long time, that they still suffered these kind of issues.
I have opted for a loan with a leading Decentralised Service instead, and it is seemlessly perfect. GIVE THIS ONE A SKIP.
For others that are having troubles....
I read their Terms and Conditions from beginning to end. They say you should report problems to their email support at nexo.com, but they do not reply to this email. I have now find that offer a different email support at nexo.io and am trying to contact them on that one.
I ask you...
What kind of organisation gives the wrong email address in their Terms and Conditions? And as others have mentioned, there is no address or telephone number anywhere. They don't even name a country in their T&Cs, it just says Nexos jurisdiction! Where is that?!
On the first of May 2021 my father called me to ask for help with his account at Nexo Finance. He asked if I knew what to do since all his funds (about $120,000.00 in retirement savings, my dads 73) had disappeared from his account. He had told me about the concept of Nexo it was like a bank and the funds were insured and give you interest. He wanted to ask me if I had any friends that were good on computers that could help him. I told him not to log off the site and get as much information as possible while still connected.
He told me he had already logged off and could not get back in. I asked friends who told me that if my dad had google 2FA it was almost impossible to hack and that the only way to get round the system was for Nexo to have disabled it on their end. I also told him that this must have been an inside job if he also got no confirmation e mails for the withdrawals. He later told me that Nexo stated that it must have been someone with physical access to his 2FA and email that had taken his money. This is impossible since my mother and father live alone on a 13 acre farm I live on campus.
He also later told me about the claim that Nexo made that he had lost his phone and email and had called Nexo for help. We knew he had definitely not done that so then with the text "proof" of what was said (from Nexo) I realized this must be all made up and know Nexo were going to delay everything and hope he goes away.
I told him to call the police the FBI and everyone to expose what looks like fraud or if not fraud complete stupidity by Nexo. This will of course not take away from the fact that the money was stolen. Getting 5% interest on Bitcoin is not worth loosing 100% plus the interest in the first month. No not trust your crytpo keys to anyone keep it in a Ledger wallet (hard wallet).
Do not trust anything non-regulated non-American companies say its probably lies therefore trying to part you from your money. Do not trust Nexo for sure. This story I will post to all my friends. The local police tried to help but Nexo refuses to send them any information on the case or tells them it got lost in the email! or that the police do not know how to use the email system.
Nexo will say this did not happen (case#404152) that they are looking into it but will not help my father. They are not a bank your funds are not insured (their are), they have no security, they will not help you. Prove me wrong Nexo help my father. I will publish a retraction. Those who have money in Nexo take it out before they do or help someone else do and those thinking of using the Nexo system don't. Its a shame in this world that individuals (and/or companies) prey on our senior citizens.
I first thought Nexo was a great idea but i have learned first hand that i was misled by the hype! I am a crypto trader so let me tell you the story on how i got screwed By Nexo. I deposited 2.8 BTC into Nexo system no problem. I then took a loan against the BTC so i could re invest and not trigger a tax event and still acquire more BTC and trade. Sounds great right. WRONG!!!
I borrowed $97,000 against my BTC Well here it is not even 15 days later and they have already charged me $20K to borrow $97K for 15 days. I am a good trader but I am not that good and BTC is not rising that fast to overtake there outrageous fees to borrow for 30 days and it's going up by the day. So lets do the math they are charging me $1,333 a day to borrow against my BTC and i cant make that much a day in trading other wise i would be a billionaire on wall street with a hedge fund of my own.
This is just plain crazy be careful of NEXO loans DANGER DANGER!!!! That's my story As of this date i have only had this loan for 14 days whoa $20K+ and going up everyday. Beware I don't know how to get out of this one, I will lose my shirt for sure, I will have lost money to NEXO with no ROI in sight and to be CLEAR I did not lose one trade... I am very careful and conservative with all my trades and I never risk with out protection.
In other words I am a safe trader. Not perfect but safe as one can be trading its all risk.
Nexo Financial LLC Reviews
Quite simply I moved from NY to TN and also needed to change my email address since it was pointed at a company I am no longer operating. They first locked the account because the rules in NY changed... so I have jumped through all the hoops to change that and the email address included providing multiple proving documents, including my license ad well as a video explaining the changes requested while giving the date and holding my license.
At the end of it all they claimed to have updated my account but have not done so and now they are asking me to start over and submit all the info again. This has gone on long enough they are making account updates intentionally difficult because they are struggling and want to stop people like me from moving their funds off the platform... it's simple fraud and all their licenses should be revoked. (FYI the TN license appears to be fraudulent since the link to TN finance has no record of their company.)
At this stage, it seems like a lightly veiled scam to be honest.
I did a large loan and repaid it the next day. I was warned about minimum 30 day interest charge, but then they charged double the correct rate (I had bought 16,000 NEXO tokens to get the Platinum interest rate.)
I then lost an obscene amount of money trying when I sold the NEXO tokens - in less than 24 hours!! I'm not going to try it a second time, but I think their SWAP system has no slippage limits, and is stacked to stop you being able to withdraw your NEXO tokens.
On smaller items, the website is unstable. When repaying my loan, after only 24 hours, it quoted different amounts each time I refreshed the page. And it took 3 repayments of continuously rising interest unless it let me release the secured ETH tokens.
I like their product proposal, and was surprised that after being established for a long time, that they still suffered these kind of issues.
I have opted for a loan with a leading Decentralised Service instead, and it is seemlessly perfect. GIVE THIS ONE A SKIP.
For others that are having troubles....
I read their Terms and Conditions from beginning to end. They say you should report problems to their email support at nexo.com, but they do not reply to this email. I have now find that offer a different email support at nexo.io and am trying to contact them on that one.
I ask you...
What kind of organisation gives the wrong email address in their Terms and Conditions? And as others have mentioned, there is no address or telephone number anywhere. They don't even name a country in their T&Cs, it just says Nexos jurisdiction! Where is that?!
On the first of May 2021 my father called me to ask for help with his account at Nexo Finance. He asked if I knew what to do since all his funds (about $120,000.00 in retirement savings, my dads 73) had disappeared from his account. He had told me about the concept of Nexo it was like a bank and the funds were insured and give you interest. He wanted to ask me if I had any friends that were good on computers that could help him. I told him not to log off the site and get as much information as possible while still connected.
He told me he had already logged off and could not get back in. I asked friends who told me that if my dad had google 2FA it was almost impossible to hack and that the only way to get round the system was for Nexo to have disabled it on their end. I also told him that this must have been an inside job if he also got no confirmation e mails for the withdrawals. He later told me that Nexo stated that it must have been someone with physical access to his 2FA and email that had taken his money. This is impossible since my mother and father live alone on a 13 acre farm I live on campus.
He also later told me about the claim that Nexo made that he had lost his phone and email and had called Nexo for help. We knew he had definitely not done that so then with the text "proof" of what was said (from Nexo) I realized this must be all made up and know Nexo were going to delay everything and hope he goes away.
I told him to call the police the FBI and everyone to expose what looks like fraud or if not fraud complete stupidity by Nexo. This will of course not take away from the fact that the money was stolen. Getting 5% interest on Bitcoin is not worth loosing 100% plus the interest in the first month. No not trust your crytpo keys to anyone keep it in a Ledger wallet (hard wallet).
Do not trust anything non-regulated non-American companies say its probably lies therefore trying to part you from your money. Do not trust Nexo for sure. This story I will post to all my friends. The local police tried to help but Nexo refuses to send them any information on the case or tells them it got lost in the email! or that the police do not know how to use the email system.
Nexo will say this did not happen (case#404152) that they are looking into it but will not help my father. They are not a bank your funds are not insured (their are), they have no security, they will not help you. Prove me wrong Nexo help my father. I will publish a retraction. Those who have money in Nexo take it out before they do or help someone else do and those thinking of using the Nexo system don't. Its a shame in this world that individuals (and/or companies) prey on our senior citizens.
I first thought Nexo was a great idea but i have learned first hand that i was misled by the hype! I am a crypto trader so let me tell you the story on how i got screwed By Nexo. I deposited 2.8 BTC into Nexo system no problem. I then took a loan against the BTC so i could re invest and not trigger a tax event and still acquire more BTC and trade. Sounds great right. WRONG!!!
I borrowed $97,000 against my BTC Well here it is not even 15 days later and they have already charged me $20K to borrow $97K for 15 days. I am a good trader but I am not that good and BTC is not rising that fast to overtake there outrageous fees to borrow for 30 days and it's going up by the day. So lets do the math they are charging me $1,333 a day to borrow against my BTC and i cant make that much a day in trading other wise i would be a billionaire on wall street with a hedge fund of my own.
This is just plain crazy be careful of NEXO loans DANGER DANGER!!!! That's my story As of this date i have only had this loan for 14 days whoa $20K+ and going up everyday. Beware I don't know how to get out of this one, I will lose my shirt for sure, I will have lost money to NEXO with no ROI in sight and to be CLEAR I did not lose one trade... I am very careful and conservative with all my trades and I never risk with out protection.
In other words I am a safe trader. Not perfect but safe as one can be trading its all risk.