I have been an investor in, and a customer of, Nexo for some time now. Naturally, I have done my best to conduct due diligence on the company. Here, I’ll explain why I found Nexo an attractive investment and why I eventually decided to head for the exit.

Nexo is a crypto lender, operating as a traditional centralized company rather than as a collection of smart contracts like its competitors in DeFi. Currently, the major players in the CeFi sector are Nexo, Celsius Network, BlockFi, and Crypto.com. Smaller contenders include Ledn from Canada and Russian-Estonian CoinLoan.