Awesome Miner or Nexo – which is better for UK traders 2024? Compare Awesome Miner and Nexo in this detailed breakdown of their platforms, features and fees.
Awesome Miner is a sophisticated crypto mining platform with a range of advanced features, compatibility with many different pools and a huge list of mineable tokens. The company behind the program is Swedish-based IntelliBreeze Software AB, which launched in 2012.
Nexo is a centralized crypto exchange founded in 2018 in Bulgaria and today operates across some 200 jurisdictions from its base in Switzerland. It provides services including spot trading, futures trading, peer-to-peer loans, cold wallet storage and fiat-on ramps to buy crypto tokens. The crypto firm is registered with some respected financial authorities, such as the ASIC, and offers some fairly unique additional services including a credit card.
Pros
Optimisation for the Antminer L3+ firmware is available, offering up to 40% higher performance on the Antminer S17 ASIC
Sophisticated features including native overclocking to profit switching, monitoring and multi-user access
A HTTP API can be used to monitor mining activities from an external application, providing flexibility
The Remote Agent package enables the Managed Miner concept on a remote computer
Few will run mining operations larger than this platform can handle
You can choose from a monthly or yearly subscription
Reputable crypto exchange that has been in business since 2018 and has taken some steps toward regulation
Nexo Pro is a user-friendly proprietary platform that suits trading strategies with great charting features
Value-add tools integrated into the trading platform including social media analysis and newsfeeds by asset
Traders can access perpetual futures to open long or short positions on crypto assets, increasing strategic opportunities
Nexo’s crypto staking and credit features support crypto lending and borrowing, and the yields lenders receive are among the best going
Traders benefit from bonuses and incentives including free trading funds paid to lenders and cashback in the form of the exchange’s native Nexo token
Cons
Weak regulatory oversight with low trust and safety score
It takes time to get familiar with all the features and tools
Limited customer support through forums and email
Some reports of slow processing
Although Nexo has registered with some reputable watchdogs, it is riskier to trade with than established crypto brokers like AvaTrade and Vantage
High deposit and withdrawal fees for cards and e-wallets will price many traders out of the most convenient payment methods
Very few educational resources are available, reducing its appeal to beginners who can find more helpful resources at category leaders like eToro
High maker/taker fees mean traders will pay more to trade derivatives than they would at rival exchanges like Binance
The range of tokens is extensive compared to most crypto brokers but still much smaller than similar crypto exchanges like Kraken
Awards
Best Cryptocurrency Wallet – FinTech Breakthrough Awards, 2023
Best Use of Crypto and/or Blockchain in Financial Services – PAY360 Awards, 2022
Awesome Miner is a user-friendly solution for managing mining operations. There is up to 200,000 ASIC miners and 25,000 GPU/CPU miners with a choice of payment options. You can get started with the solution in a couple of minutes.
Nexo offers trading on an impressive suite of around 70 tokens, including Bitcoin. Digital assets can be bought, sold and swapped directly on the exchange or traded in over 500 pairs. Digital assets can also be used as collateral for fiat loans or used to generate passive income with the ‘smart staking’ tool or from interest earned via peer-to-peer loans.
