Nexo vs Salt Lending: Comparing crypto-backed loans
May 04•9 min read
Borrowing against your crypto instead of selling it has become a mainstream strategy for investors who want liquidity without giving up their position. Two platforms that have offered this for years are Nexo and Salt Lending — but despite sharing the same core idea, they work quite differently.
Salt is one of the oldest names in crypto lending, founded in 2016 and built around fixed-term loans. Nexo offers a revolving credit line with a broader product ecosystem. How you borrow, how much it costs, and what happens if the market moves are all shaped by these structural differences.
This comparison breaks down the key factors so you can decide which fits how you actually want to borrow.
For a quick feature overview and current rates, visit our Nexo vs. Salt Lending comparison page.
Overview of Nexo and Salt Lending
About the two platforms
Nexo launched in 2018 as a crypto lending and earning platform. Today, it offers borrowing, savings, card spending, and exchange under one account. Its borrowing product is a revolving line of credit — meaning you draw funds when you need them, repay at your own pace, and your credit limit is automatically restored. Nexo is available globally, including the US.
Salt Lending launched in 2016. It offers personal and business loans backed by cryptocurrency collateral, with fixed repayment terms ranging from 12 to 60 months. Salt operates primarily in the US and a limited number of other markets.
How the loans work
This is the most important structural difference between the two platforms.
Nexo uses a revolving credit line. There's no loan term and no fixed repayment schedule. You borrow what you need, repay when you want, and the credit limit restores as you repay. Interest accrues daily only on the amount you've drawn — similar to how a home equity line of credit works. This gives borrowers significant flexibility in terms of timing and repayments.
Salt Lending uses fixed-term loans. When you take a loan with Salt, you choose a term between 12 and 60 months, receive a lump sum, and repay on a fixed schedule. This structure works well for borrowers who want predictability — a defined repayment amount and a clear end date. It works less well for borrowers who want flexibility to draw and repay on their own timeline.
Neither structure is universally better. The right choice depends on what you're using the loan for and how you want to manage repayments.
Why borrowers choose Nexo
The absence of a repayment deadline removes a significant source of pressure that comes with fixed-term loans. With Nexo, there's no looming maturity date that could coincide with a market downturn or a period when liquidating collateral would be unfavorable. Borrowers who want to stay flexible — drawing and repaying on their own terms — find Nexo's revolving structure better suited to how they actually manage their finances.
Nexo also offers Zero-Interest Credit — a standalone product that lets you borrow against BTC or ETH at 0% interest and zero fees, with a fixed term and no liquidation risk during that term. Each position includes predefined price-protection parameters, so the potential outcomes are transparent from the start. Salt has no equivalent product.
Interest rates
Nexo's rates are tiered based on your Loyalty Tier, calculated daily from the share of NEXO Tokens you hold relative to your total portfolio value:
Base: less than 1% of portfolio in NEXO Tokens
Silver: 1–5% of portfolio in NEXO Tokens
Gold: 5–10% of portfolio in NEXO Tokens
Platinum: at least 10% of portfolio in NEXO Tokens, at LTV ≤ 20% — rates at 1.9% per year
Salt's rates are determined by your loan-to-value ratio:
30% LTV: 9.95% APR
50% LTV: 10.95% APR
70% LTV: 14.45% APR
Salt's rates are fixed for the life of the loan once the term begins. Nexo's rates can change if your loyalty tier changes.
Why borrowers choose Nexo
Nexo's rate structure rewards borrowers who are willing to optimize their portfolio — specifically, by holding a portion in NEXO Tokens. For borrowers who do this, the potential savings relative to Salt's fixed rates are significant, particularly over longer borrowing periods. And for borrowers who want an even lower cost of capital, Nexo's Zero-Interest Credit offers 0% financing that Salt simply cannot match.
Collateral and LTV
Nexo accepts over 100 digital assets as collateral, including Bitcoin, Ethereum, stablecoins, and a wide range of altcoins. LTV limits vary by asset:
Stablecoins: up to 90% LTV
BTC and ETH: up to 50% LTV
Other assets: varies (check nexo.com/borrow for current limits)
Salt accepts Bitcoin, Ethereum, USDC, USDT, and its own SALT token. Maximum LTV is 70%, regardless of asset. The narrower collateral list means Salt isn't an option if your holdings are primarily in altcoins.
Higher LTV means you can borrow more against the same collateral — but it also means your position is closer to a margin call if prices drop. Both platforms will liquidate collateral if the LTV exceeds the maintenance threshold.
Why borrowers choose Nexo
Nexo's collateral flexibility means your entire portfolio can work for you — not just a handful of assets. If you hold a diversified set of assets across BTC, ETH, stablecoins, and altcoins, Nexo lets you pledge them together, optimize your LTV across asset types, and adjust your mix as the market moves. Salt's narrower collateral list and single LTV cap leave most diversified portfolios with fewer options.
Fees
Both platforms charge no origination or withdrawal fees on loan disbursements. You pay interest on what you borrow — that's the primary cost on both sides.
One historical note worth mentioning: Salt Lending was subject to a regulatory action by the California Department of Financial Protection and Innovation (DFPI) in December 2024, which found that the company had understated APRs on consumer loans and charged undisclosed administrative fees to some borrowers.
Salt resolved the action with a $300,000 settlement and has since updated its disclosures and practices. If you're considering Salt as a US borrower, it's worth reviewing their current rate and fee disclosures directly at their website before proceeding.
Spending with your credit line
Nexo Card integration
The Nexo Card integrates directly with the Nexo Credit Line through Credit Mode. Every card purchase draws automatically from your credit line — meaning you can borrow against your crypto at the point of purchase, anywhere Mastercard is accepted worldwide. Purchases in Credit Mode also earn up to 2% crypto cashback.
This makes Nexo's Credit Line usable as an everyday spending tool, not just a mechanism for large one-time withdrawals.
Salt Lending spending
Salt doesn't offer a card or any point-of-sale spending integration. Borrowed funds are paid out as cash or stablecoins, which you'd then move to a bank account or external platform to spend. The platform is focused purely on loan disbursement and repayment.
Why borrowers choose Nexo
For borrowers who want their credit line as a spending tool, Nexo is the only option of the two. The ability to borrow at the point of purchase and earn cashback on those transactions adds a practical, everyday dimension that Salt's product doesn't offer.
Earning on your holdings
Nexo earnings
Assets held on Nexo can earn interest through Flexible Savings or Fixed-term Savings. Flexible Savings offers daily compounding payouts with no lock-up. Fixed-term Savings offers higher rates for terms up to 12 months. Rates reach up to 15% per year, depending on the asset, your Loyalty Tier, and payout preferences.
That means borrowing and earning can work in parallel on Nexo. Assets you hold that aren't pledged as collateral can generate yield while another portion backs your credit line.
Salt Lending earnings
Salt does not offer any interest-earning products. Assets held on the platform are actively used to back a loan. Idle holdings sit dormant.
Why borrowers choose Nexo
On Nexo, assets outside your collateral position can earn up to 15% per year in the background — a dimension of return Salt simply doesn't offer.
Which is better for you
Consider Nexo if:
You want flexibility — the ability to draw and repay on your own schedule without a fixed term
You hold a wide range of assets and want to use them as collateral
You want your borrowing, savings, and spending under one account
You want access to lower rates through loyalty tiers
You want 0% financing through Zero-Interest Credit
You want to earn yield on holdings while borrowing
Consider Salt Lending if:
You want a fixed repayment schedule with a clear end date
You primarily hold Bitcoin or Ethereum and don't need broader collateral support
You want a straightforward term loan product without an integrated ecosystem
The bottom line
Salt Lending and Nexo both let you borrow against crypto without selling it — but they serve different borrowing styles. Salt is structured around fixed terms and predictable repayments. Nexo is built for ongoing, flexible access to liquidity with a broader product ecosystem around it.
The rate gap is significant. Salt's rates start near 10% APR; Nexo's start considerably lower for users who hold NEXO tokens — and Nexo's Zero-Interest Credit goes further still.
Compare Nexo and Salt Lending — see current rates and product details.
Frequently asked questions
1. What is Salt Lending?
Salt Lending is a US-based crypto lending platform founded in 2016. It offers fixed-term personal and business loans backed by cryptocurrency collateral, with no credit checks required.
2. How does Nexo compare to Salt Lending on interest rates?
Nexo's rates start from 1.9% per year for top Loyalty tiers. Salt Lending's rates range from 9.95% to 14.45% APR, depending on your loan-to-value ratio.
3. Does Salt Lending require a credit check?
No. Just like Nexo, Salt Lending uses your crypto collateral to secure the loan, which means that no credit history is required.
4. What collateral does Salt Lending accept?
Salt accepts Bitcoin (BTC), Ethereum (ETH), USDC, USDT, and the SALT token. Nexo accepts over 100 digital assets that can be combined.
5. Is Nexo available in the US?
Yes. Nexo relaunched in the US in February 2026 through a partnership with Bakkt, a publicly listed crypto firm, under a compliant, regulated framework.
6. Can I spend directly from my Nexo credit line?
Yes. The Nexo Card in Credit Mode lets you borrow against your crypto at the point of purchase, anywhere Mastercard is accepted. Salt Lending doesn't offer a card or any direct spending integration.
7. Can I earn interest on my crypto while borrowing on Nexo?
Yes. Assets held in your Nexo account that are not pledged as collateral can earn interest through Flexible or Fixed-term Savings — up to 15% per year, depending on the asset and your Loyalty Tier. Salt Lending offers no earning product.
8. What is Nexo's Zero-Interest Credit?
Zero-Interest Credit is a standalone Nexo product that lets you borrow against BTC, ETH, SOL, and XRP at 0% interest and zero fees, with no liquidation risk during the fixed term. Each position includes predefined price-protection parameters so outcomes are visible from the start. Salt Lending has no equivalent product.
These materials are accessible globally, and the availability of this information does not constitute access to the services described, which services may not be available in certain jurisdictions. These materials are for general information purposes only and not intended as financial, legal, tax, or investment advice, offer, solicitation, recommendation, or endorsement to use any of the Nexo Services and are not personalized, or in any way tailored to reflect particular investment objectives, financial situation or needs. Digital assets are subject to a high degree of risk, including but not limited to volatile market price dynamics, regulatory changes, and technological advancements. The past performance of digital assets is not a reliable indicator of future results. Digital assets are not money or legal tender, are not backed by the government or by a central bank, and most do not have any underlying assets, revenue stream, or other source of value. Independent judgment based on personal circumstances should be exercised, and consultation with a qualified professional is recommended before making any decision.