ZoneBitcoin EditorialAmong the neo-banks that are called “crypto-friendly”, it can be difficult to make a choice as there are so many offers. However, Nebeus is gaining popularity among crypto-holders and the reasons for this success are numerous, as we will see in this article.
The neo-bank offers an IBAN to more than 50 residents around the world and is ideal for both individuals and professionals (including freelancers and digital nomads). The platform offers, in addition to the classic services of a neo-bank, formulas to generate returns on its holdings in FIAT or bitcoin, depending on the customers' choices. It is then a good option for those who wish to generate passive income on their holdings inhttps://cutt.ly/nebeus bitcoin, from their banks.
If you want to know more, here is a detailed review of Nebeus, its advantages and disadvantages. You will then be better able to know whether this neo-bank is suitable for you or not.
(You can also see the video version on Nebeus on YouTube)
Presentation of the Nebeus Crypto Neobank
Our Company Nebeus is based in Barcelona, Spain since 2014 and was founded by Sergey Romanovsky and Konstantin Zaripov. Nebeus is accessible on a website directly as well as on Android and iOS devices as an application. The founders are supporters of cryptocurrencies and sought to create a company offering all the most convenient services. Nebeus wallet supports Bitcoin, stablecoins like USDT and USDC and other cryptocurrencies as well.
In fact, in addition to offering an easy-to-use bank card, users can also take advantage of the formula to generate returns of up to 8% per year.
In addition, the company stands out for its great concern for the security of its clients' funds. In fact, 98% of cryptocurrencies deposited by customers are stored in cold wallets to maximize the security of funds and avoid possible hacking.
What are the features of Nebeus?
While most neobanks struggle to add crypto functionality, Nebeus was designed in advance to serve individuals and businesses that hold cryptocurrencies. Using Nebeus, you can buy, sell, exchange cryptocurrencies and use your card to pay in online and physical stores.
More so, you can also take out loans or make loans to generate returns.
Thus, it is an all-in-one neo-bank that will be appreciated by those looking for something functional and unified.
Let's now see the features in more detail.
A crypto/Fiat bank card with an IBAN account
The Nebeus bank card is certainly the company's primary asset. With perfect flexibility, you can choose to pay with your cryptocurrencies or with your euro balance. You can change the type of account you want to use for your payments at any time.
The card also comes with an IBAN account, in euros or pounds sterling if you prefer an English account. This then allows you to benefit from a real European bank account, ideal for receiving and sending payments in FIAT, throughout the world.
Concerning fees, you should know that FIAT withdrawals from ATMs are free up to 200 euros per month and then commission amounts will be charged above this limit. However, the card should be used more to pay in online or physical stores directly, especially since it has NFC technology. This makes payments much easier.
Professional accounts for businesses
Nebeus business accounts offer advanced features like billing and corporate cards. You can easily manage your expenses, pay your suppliers and track your cash flow. No matter the size of your business, the company promises to manage your account efficiently.
A Mastercard
The Nebeus bank card is sent free of charge when you make a first deposit into your account. You can deposit cryptocurrencies or make a bank transfer in euros for example.
Regarding card fees, you have no fees if you spend more than €600 per month. If you spend less than this amount, then, monthly, you will be asked to pay €4.95.
A savings account that generates up to 8,25%
It is certainly thanks to the “crypto-lending” formula that Nebeus is experiencing growing success. It is a form that allows you to generate up to 8,25% interest with a minimum deposit of 1000 USDT. Interest is automatically paid into your account every 30 days.
Crypto-Renting allows you to earn rewards on your crypto by lending your digital assets to Nebeus. You can deposit bitcoin, ethereum, USDT and USDC. You can earn interest in the same deposited cryptocurrency or in a completely different cryptocurrency of your choice.
For example, you can deposit stablecoins and receive your interest in bitcoin, for example. You can also deposit usat and receive USDT as rewards too.
When you deposit your digital assets into a crypto leasing program, your funds will be locked for up to 4 months, depending on the program chosen. Once the lock period is over, you will be able to withdraw your crypto instantly at any time.
Example of yield:
There are 4 different plans on Nebeus:
- Baobab formula with 8,2% RPY for BTC, ETH, USDT, USDC with rewards paid in cryptocurrencies or euros. The minimum amount is 1000 USDT. The first 4 months with the funds blocked before you can withdraw them.
- Sequoia Plan with 6.5% RPY : Many cryptocurrencies and tokens (BTC, ETH, XRP, ALGO, AVAX, etc.). Rewards are paid only in crypto and euros.
- Bonsa plan with 5% RPY : A locking period of 1 month only and for a minimum amount of 50 USDT.
- Juniper with 3.5% RPY : BTC,ETH,DASH,XRP etc.
What does RPY mean? It stands for Reward Per Year. This is the annual percentage that is paid by Nebeus every 30 days once the formula has been activated.
The company says Nebeus uses leased crypto assets for liquidity for lending and internal remortgaging for Nebeus product development. Nebeus assures that the company never remortgages to third parties and never reinvests leased crypto assets. This helps avoid the risk of over-indebtedness, for example.
How to get a cryptocurrency loan
Comparison of Nebeus loan options
Nebeus offers two types of loans:
The Quick Loan
- Origination fees: 2,5% of the loan amount;
- Early repayment: Free;
- Interest rate: 0%;
- Minimum amount: €50;
- Maximum amount: €500.
The Flexible Loan up to €125,000
- Setup fees: None;
- Early repayment in the first month: 2,5% of the loan amount;
- Interest rate: From 8% (may vary);
- Minimum amount: €100;
- Maximum amount: €125.
It is important to note that the flexible loan interest rate is variable and can be influenced by several factors. Likewise, minimum and maximum loan amounts are subject to change. Therefore, please always consult your Nebeus account for information.
Nebeus allows users to take out Quick Loans in £, $ or € by putting Bitcoin or Ether as collateral. You can take out these loans with 72% or 80% of either cryptocurrency against the loan value, and the loans currently have an APR of 10,55%. Of course, loans can be more expensive than traditional loans, but this is usual with cryptocurrencies.
With Nebeus Quick Loans, you can borrow small amounts of money as the maximum is $500 if you have an urgent need in the short term. You can choose between 7 different cryptocurrencies to use as collateral (Bitcoin, Ethereum, Dash, Ripple, Stellar, Litecoin and Bitcoin Cash), and you can borrow 50, 100, 250 or 500 in FIAT currency (EUR, GBP, USD ) or Stablecoins (USDT or USDC).
The LTV of quick loans is set at 50% and the loan duration is set at 3 months. There is no interest rate (it's actually 0%) and the only thing you pay is a 2,5% origination fee when your loan is issued. When you have completed your loan, you can close and repay the loan at any time for free.
What is TVL? The TVL ratio means “Loan-to-Value”. In French, the loan-to-value ratio shows the difference between the value of your collateral and the loan you receive. If the LTV is 80%, this means your loan will be 80% of the value of your cryptocurrency collateral. The value of your loan is calculated according to the daily exchange rate and will remain fixed until the end of your loan. If the value of your collateral is €100 and you borrow at 00% LTV, then you will receive €80. The calculation is rather simple: LTV = Loan amount ÷ Collateral value.
What are the fees on Nebeus?
The application is free. This means that you can deposit cryptocurrencies on the platform without fees. You can then use it as simply as possible to receive or send cryptocurrencies. You should also know that you can use the Quickpay function of Nebeus which allows you to send (crypto or FIAT) for free to a person who also has Nebeus.
What about transaction fees?
There are fees for transactions although deposit is free, there is a minimum withdrawal fee of 2,5% + 0,80 EUR or 0,0005BTC for withdrawing Bitcoin.
All crypto exchanges will apply fees when trading – directly or indirectly in the form of what are called “spreads”. Some platforms may also apply additional fees. Here are the fees of the Nebeus platform when you trade cryptocurrencies or convert fiat/crypto and vice versa.
| TYPE OF FEES | AMOUNT OF FEES | COMMISSION |
|---|---|---|
| Crypto deposit | Free | 0% |
| Deposit in FIAT | Free by euro or GPB bank transfer 4.2% deposit fee by credit card | 0% or 4,2% per card deposit |
| Inactivity | There are no fees if you don't make transactions | 0% |
You can have the detailed list of costs here.
What is the transfer speed of Nebeus?
All transfers between users on the Nebeus network are free and instant, all other transfers are completed within 24 hours. Delays in the transfer of certain cryptocurrencies may be longer depending on the selected networks. However, here it does not depend on Nebeus but rather on the chosen network.
How to start using Nebeus
If you want to register on Nebeus, nothing could be simpler. Simply enter your email and password to register. You will also need to submit your identity document to have access to all services. If you choose not to submit your documents, you will simply be able to use the platform to send and receive cryptocurrencies but without being able to make a return or have access to other services.
The account verification process is done rather quickly and we were validated within the day in our case where the entire editorial team opted to have the Nebeus card.
Nebeus now also supports conversion and instant withdrawal/transfer in Pound and Dollar currencies in addition to Euro.
Nebeus Company Safety and Regulations
Nebeus uses the best security features, such as password protection, 2-factor authentication, PIN + 2-factor authentication for any withdrawal, and cannot change wallet address without PIN confirmation .
Each time you make a transaction, you will need to use a one-time PIN generated by your mobile device. This ensures that no one other than you can withdraw the cryptocurrencies from your wallet and provides additional protection to your account.
Concerning the security and financial base of the company, Nebeus has guarantee funds of more than 100 million dollars. The banks supporting Nebeus are BitGo and the British group LLOYD'S.
Nebeus regulations and jurisdiction
Regarding regulation, Nebeus is officially regulated by the official financial body of Spain. Nebeus (Rintral Trading SL) is a company registered with the Bank of Spain under registration number D664 for services of custody, sale and purchase of digital assets.
Nebeus is an approved outsourced service provider of Modulr FS Europe Limited, authorized by the Central Bank of Ireland (“CBI”) as an Electronic Money Institution (establishment code C191242).
In fact, the company can offer its services in all European countries but also in other countries. More precisely, Nebeus is available in more than 100 countries around the world.
Which countries are authorized by Nebeus?
Nebeus claims that verified users can send funds to a debit/credit card in over 100 countries around the world, including Australia, the UK, the US and Germany. Check the list below to see if it is available in your country.
The card is also available to many residents, also in Africa. We know how difficult it can be to obtain a European IBAN for certain nationalities. Then Nebeus can be a great option for you.
The advantages and disadvantages of the card
It's time to discuss the pros and cons.
- Free card
- Mastercard with NFC
- Black and elegant design
- Multiple cryptocurrencies supported
- Opportunity to generate returns
- Company based in Europe (Spain)
- Can be difficult to understand all the offers
- The site is only available in English and Spanish.
- Verification process which may take a few days.
- Fees charged if monthly expenses are less than €600
Nebeus customer service
Nebeus customer service is very responsive and has a versatile team that can speak several languages. It is also possible to send emails or submit tickets directly to receive customer support.
What are the risks ?
Of course, we could not finalize this article without talking about the possible risks. First of all, we would say that investing in cryptocurrencies remains fundamentally a risky investment. Even if you invest in bitcoin, it is absolutely risky because no one can guarantee that prices will go up.
However, the other risk is that the company can also go bankrupt in the worst case scenario. We have seen various bankruptcies in the sector in 2022 in particular and we have no guarantee that any crypto company will go out of business.
In addition, and this is a significant advantage, the company has not created its own token. This would be a huge risk for users because it would mean that it is financed with user funds. Nebeus does not have a token and this is already a sign of more reasonable financial health than the competition. Even more, the $100 million insurance funds can also insure users.
View video on nebeus
Our final opinion
Overall, Nebeus is a comprehensive platform offering a crypto wallet that allows you to obtain attractive returns in a simple way. Nebeus services are in fact more numerous because there is also an offer reserved for professionals, such as freelancers or small businesses that want to integrate cryptocurrencies.
It is also a very practical neo-bank for individuals looking to carry out crypto operations in a simple way. Nebeus will not prevent you from purchasing cryptocurrencies on other platforms, for example.
Disclaimer: This does not constitute investment advice. Always do your own research before concluding on a choice.
