Last updated on March 14th, 2022
Nexo allows you to earn interest on a variety of cryptocurrencies.
One of them is BNB, and you may be wondering how you can send this cryptocurrency to Nexo.
Here’s what you need to know.
Can I send BNB to Nexo?
You are able to send BNB to Nexo via the Binance Chain (BEP2). Nexo does not accept BNB deposits via the BEP20 network, so you may lose the BNB that you’ve sent through this method.
How to send BNB to Nexo
Here are 6 steps to send BNB to Nexo:
- Select a platform that enables BNB withdrawals via the Binance Chain (BEP2)
- Go to ‘Top Up’ on Nexo
- Select BNB as the asset to deposit
- Copy the BNB deposit address
- Withdraw from the platform of your choice using Binance Chain (BEP2)
- Receive BNB on Nexo
And here is each step explained in-depth:
Select a platform that enables BNB withdrawals via the Binance Chain
Since you are only able to send BNB via the Binance Chain (BEP2), you will need to buy BNB on an exchange that supports such withdrawals.
Here are 5 exchanges for your consideration:
|Platform||BNB Withdrawal Fee|
|FTX||~ 0.00000357 BNB|
In terms of BNB withdrawals, it seems that FTX has the lowest fees when you want to make a withdrawal.
Go to ‘Top Up’ on Nexo
After buying BNB on one of these exchanges, the next step will be to obtain the deposit address on Nexo.
You’ll need to go to the Nexo platform, and select the ‘+‘ icon in the middle.
Afterwards, select ‘Top Up‘.
Select BNB as the asset to deposit
This will bring you to the deposit page where you can top up different cryptocurrencies.
You will need to search for BNB to deposit it on the platform.
Copy the BNB deposit address
After selecting BNB, this will show you the deposit address that you’ll need to copy to the platform where you’ve bought your BNB on.
This is a Binance Chain (BEP2) address, and you should only use a platform that supports such withdrawals.
Moreover, the BNB deposit address on Nexo has a memo, which you will need to copy as well.
If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.
This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!
Withdraw from the platform of your choice using Binance Chain (BEP2)
The next step you’ll need to do would be to withdraw BNB from the platform that you’ve chosen to Nexo using the Binance Chain (BEP2).
There may be some platforms like Binance which allow you to withdraw BNB using the Binance Smart Chain (BEP20).
This is also found on the Crypto.com App,
as well as FTX.
It is important that you withdraw BNB using the Binance Chain (BEP2), and not the Binance Smart Chain (BEP20). Nexo does not support the Binance Smart Chain, and you may lose the BNB that you sent over!
Receive BNB on Nexo
After confirming the withdrawal on the platform of your choice, you will receive BNB on Nexo.
You are able to start earning interest on your funds, or even take a crypto-backed loan as well!
If you choose to earn your interest in NEXO, you may receive a higher interest rate which increases your returns. You can find out more about selling NEXO tokens back to USD if you wish to cash out your crypto.
Nexo Review: How to Use Nexo to Ear...Nexo Review: How to Use Nexo to Earn Passive Income (Earn up to 12% APY)Conclusion
When you are sending BNB to Nexo, it is important that you only do so via the Binance Chain (BEP2).
If you choose to send BNB via the Binance Smart Chain, there may be a chance that your BNB may be lost forever!
To find the cheapest ways to send BNB to your Metamask wallet, you can check out this guide here.
👉🏻 Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
Nexo Referral (Earn USD$25 in BTC)
If you are interested in signing up for a Nexo account, you can use my referral link. You will receive USD$25 in BTC after holding $100 or more in assets for the next 30 days.
Here’s what you need to do:
- Sign up for a Nexo account
- Complete the Advanced Verification on Nexo
- Transfer ≥ $100 worth of assets into Nexo
- Hold these assets for at least 30 days
You will receive your BTC reward in the next 30 days!
FTX Referral (5% trading fee discount)
If you are interested in signing up for an FTX account, you can use my referral link.
You will receive a 5% trading fee discount for any trades that you make.
Crypto.com Referral (Get up to $25 USD worth of CRO)
If you are interested in signing up for Crypto.com, you can use my referral link and enter the code ‘x2kfzusxq6‘.
We will both receive $25 USD worth of CRO in our Crypto Wallet.
Here’s what you’ll need to do:
- Sign up for a Crypto.com account
- Enter my referral code: ‘x2kfzusxq6‘
- Stake enough CRO to unlock a Ruby Steel card or higher
The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.
You can read more about the referral program on Crypto.com’s website.
Binance Referral (Receive 5% off your trading fees)
If you are interested in signing up for a Binance account, you can use my referral link.
You will be able to receive 5% off all of your trading fees on Binance!
Are you passionate about personal finance and want to earn some flexible income?