Crypto Invest

6 Steps To Send Cardano (ADA) To Nexo

Send Cardano to Nexo

Last updated on January 25th, 2022

This article contains affiliate links. You can read more about these links in my Editorial Guidelines.

Nexo allows you to earn interest on a variety of cryptocurrencies.

One of them is ADA, and you may be wondering how you can send this cryptocurrency to Nexo.

Here’s what you need to know.

Can I send ADA to Nexo?

You are able to send ADA to Nexo via the Cardano blockchain. Nexo does not accept ADA deposits via other networks (such as BEP2 or BEP20), so you may lose the ADA that you’ve sent through this method.

How to send ADA to Nexo

Here are 6 steps to send ADA to Nexo:

  1. Select a platform that enables native ADA withdrawals
  2. Go to ‘Top Up’ on Nexo
  3. Select ADA as the asset to deposit
  4. Copy the ADA deposit address
  5. Withdraw from the platform of your choice using the native Cardano network
  6. Receive ADA on Nexo

And here is each step explained in-depth:

Select a platform that enables native ADA withdrawals

Since you are only able to send ADA via the native Cardano network, you will need to buy ADA on an exchange that supports such withdrawals.

Here are 5 exchanges for your consideration:

PlatformADA Withdrawal
Fee
Binance1 ADA
Kucoin1 ADA
Crypto.com0.8 ADA
AAX1 ADA
Gate.io1.6 ADA

In terms of ADA withdrawals, it seems that Crypto.com has the lowest fees when you want to make a withdrawal.

Go to ‘Top Up’ on Nexo

After buying ADA 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.

Nexo Select Plus Icon 2

Afterwards, select ‘Top Up‘.

Nexo Select Top Up 2

Select ADA as the asset to deposit

This will bring you to the deposit page where you can top up different cryptocurrencies.

Nexo Top Up BTC

You will need to search for ADA to deposit it on the platform.

Nexo Select Asset

Copy the ADA deposit address

After selecting ADA, this will show you the deposit address that you’ll need to copy to the platform where you’ve bought your ADA on.

Nexo ADA Deposit Address

This is a Cardano blockchain address, and you should only use a platform that supports such withdrawals.

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 the native Cardano network

The next step you’ll need to do would be to withdraw ADA from the platform that you’ve chosen to Nexo using the Cardano network.

There may be some platforms like Binance which allow you to withdraw ADA using different networks, such as BEP20 and BEP2.

Binance ADA Withdrawal Networks

It is important that you withdraw ADA using the Cardano network, and not the BEP2 or BEP20 networks. Nexo does not support these 2 networks, and you may lose the ADA that you sent over!

Otherwise, you will be sending the Binance-Peg version of ADA, which is different from native ADA.

Receive ADA on Nexo

After confirming the withdrawal on the platform of your choice, you will receive ADA 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.

Beginners Guide to Cardano: How to ...
Beginners Guide to Cardano: How to Buy, Store & Stake ADA Token
Conclusion

When you are sending ADA to Nexo, it is important that you only do so via the native Cardano network.

This is a similar process as sending DOT or BNB over to Nexo.

If you choose to send ADA via another network, there may be a chance that your ADA may be lost forever!

Alternatively, you can look to stake ADA on other platforms such as Exodus.

👉🏻 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.

Nexo Referral New

Here’s what you need to do:

  1. Sign up for a Nexo account
  2. Complete the Advanced Verification on Nexo
  3. Transfer ≥ $100 worth of assets into Nexo
  4. Hold these assets for at least 30 days

You will receive your BTC reward in the next 30 days!

You can view more information about this promotion on Nexo’s website.

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.

Crypto.com Referral

Here’s what you’ll need to do:

  1. Sign up for a Crypto.com account
  2. Enter my referral code: ‘x2kfzusxq6
  3. 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!

AAX Referral (Receive up to $50 USDT worth of rewards)

If you are interested in signing up for an AAX account, you can use my referral link.

Here’s what you need to do to receive this reward:

  1. Sign up for an AAX account
  2. Complete level 1 KYC on the platform
  3. Generate 10,000 USDT in trading volume on the spot or futures markets + deposit 500 USDT via P2P, Quick Buy and Sell, cash deposit or crypto deposit

Once you have completed the criteria above, you will be able to receive 50 USDT in rewards.

You can view more about this promotion on AAX’s website.


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