Hodl Hodl is a non-custodial Bitcoin trading and lending exchange offering anonymous P2P transactions. The brand is trusted by 100,000+ users worldwide and offers 100+ fiat currencies, which can be used to complete crypto payments. 50,000+ orders have been completed through the exchange.
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
Straightforward to use interface for peer-to-peer transactions
Transparent fixed fee model split equally between the parties involved
Transactions are anonymous and non-custodial with multisig (P2SH) contract approval
New clients can learn how to purchase and sell Bitcoin without risking any money via the TESTNET demo solution
Non-custodial, so your funds cannot be accessed by malicious users should Hodl Hodl be compromised
No lengthy verification process before trading
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
Unregulated brand and risks involved with peer-to-peer transactions including limited fund safeguards
No telephone or live chat contact options for users needing support
Investing is limited to Bitcoin only
Not fully decentralized
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
You can buy and sell Bitcoin directly with no intervention and a fixed fee of 0.6% per transaction (0.3% per party). You can get started in three steps; create a contract, BTC deposit and transfer, BTC release
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.
