Crypto Invest

6 Steps To Send XLM To Nexo

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

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

Here’s what you need to know.

Can I send XLM to Nexo?

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

How to send XLM to Nexo

Here are 6 steps to send XLM to Nexo:

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

And here is each step explained in-depth:

Select a platform that enables native XLM withdrawals

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

Here are 5 exchanges for your consideration:

PlatformXLM Withdrawal
Fee
Binance0.02 XLM
Kucoin0.02 XLM
Crypto.com0.1 XLM
AAX0.01 XLM
Kraken0.001 XLM

Among all platforms, it seems that Kraken charges the lowest withdrawal fees for XLM.

Go to ‘Top Up’ on Nexo

After buying XLM 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 XLM 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 XLM to deposit it on the platform.

Nexo Search For XLM

Copy the XLM deposit address

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

Nexo Deposit XLM

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

Moreover, the XLM 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 the native Stellar network

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

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

Binance Withdraw XLM Networks

It is important that you withdraw XLM using the native Stellar network, and not the BEP20 network. Nexo does not support this network, and you may lose the XLM that you sent over!

Receive XLM on Nexo

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

Conclusion

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

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

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

👉🏻 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$10 in BTC)

If you are interested in signing up for a Nexo account, you can use my referral link. You will receive USD$10 in BTC after holding $100 or more in assets for the next 30 days.

Nexo Referral

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!

Crypto.com Referral (Get up to $45 USD worth of CRO)

If you are interested in signing up for a Crypto.com account, you can use my referral link and enter the code ‘x2kfzusxq6‘.

Here’s how you can get up to $45 USD worth of CRO in your Crypto Wallet:

TaskCRO Reward
Stake enough CRO to unlock a Ruby
Steel Crypto.com Visa Card or higher
USD $25
Spend a minimum of USD 100
for your first transaction
with the Crypto.com Visa Card
USD $10
Buy/sell a total of USD 500 of crypto
in the Crypto.com App within
30 days after you pass KYC
USD $10

You will need to stake enough CRO (in the equivalent amount in your home currency) to unlock a Ruby Steel card or higher.

You can read more about the referral program on Crypto.com’s website, and the additional referral bonuses here.

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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