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Nexo — buying crypto with euros

Nexo ⚠️ CEX

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Regulatory history — context worth knowing

Nexo's regulatory path:

What this means for you: Nexo operates legally in the EU, and like any CEX, it's custodial (the exchange holds the keys, not you) — your crypto sits on Nexo's servers, not in your own wallet. That's why our strategy has a clear boundary: we use Nexo only to buy with euros, and then immediately move the crypto to our own wallet (Jupiter Wallet for Solana or MetaMask for Ethereum). That's how you take custody of your own keys.

Nexo is a popular cryptocurrency exchange in Europe. It lets you buy cryptocurrency with euros through a simple bank transfer. This lesson walks you through buying SOL or ETH from scratch.

Why Nexo?

A simple analogy

Nexo works like an online currency exchange booth. You send euros, they hand you cryptocurrency. Simple and fast.

FeatureNexoOther CEXs
Bank transfer (SEPA)FreeOften free
Purchase fee0.5–1.5%0.1–3%
Identity verification10–30 min10 min – 24 hrs
CurrenciesEUR, USD, GBPDepends on the exchange
Crypto withdrawalFree (1x/month)Often paid
Regulated in the EUYesNot all

Why Nexo works well for Europeans

Nexo accepts bank transfers with no fees. And once a month, you can send cryptocurrency to your own wallet for free. That's very convenient for beginners.

Signup and identity verification

What you'll need to have ready

Before you start, get these things together:

The signup process

1

Create a Nexo account

Go to nexo.com (or use our link: https://nexo.com/ref/km4jgsudhw?src=ios-link). Click "Get Started". Enter your email and choose a strong password — at least 12 characters, with uppercase letters and numbers.

Use a password you don't reuse on other sites!

2

Confirm your email

Nexo will send a confirmation email. Open it and click the link. If you don't see it, check your SPAM folder.

3

Verify your identity (KYC)

Once logged in, click "Verify Identity". Select your country (Lithuania). Photograph your passport or ID card — both sides.

Shoot it in good lighting. The document must be clearly readable.

4

Take a selfie

Nexo will ask you to take a photo of yourself (or record a short video). It's an automated system — just look into the camera.

Don't wear sunglasses. Your face must be clearly visible.

5

Wait for approval

Verification usually takes 10–30 minutes. Occasionally up to 24 hours. You'll get an email once it's approved.

What is KYC?

KYC (Know Your Customer) is like passport control at the airport. The exchange has to verify who you are, because the law requires it. It's a safeguard against fraud.

Bank transfer — depositing euros

Once your identity is verified, you can deposit euros:

Step by step

  1. Log in to your Nexo account
  2. Click "Top Up" or "Add Funds" at the top
  3. Choose "EUR"
  4. Choose "Bank Transfer (SEPA)"
  5. Copy Nexo's bank details:
    • Beneficiary name
    • IBAN number
    • BIC/SWIFT code
    • Payment reference (Reference) — very important!

Payment reference — one field you fill in

Enter the Reference code Nexo generated for you into the payment description field at your bank — that way Nexo instantly matches the transfer to your account. Before you hit "Confirm" on the transfer, take a quick look: is the Reference code actually there? A five-second check on your part, and the transfer lands straight in your account.

A simple analogy

The Reference code is like the note written on an envelope. If you don't write down who a letter's for, the post office doesn't know where to deliver it. Same with money — a bank transfer NEEDS a Reference code.

Transfer details

ParameterValue
Minimum deposit10 EUR
Fee0 EUR (SEPA)
Waiting time1–2 business days
CurrencyEUR

Which bank works best?

Buying SOL or ETH

Once the euros land in your Nexo account, you can buy cryptocurrency!

Buying SOL SOL

  1. Click "Buy Crypto" or "Exchange"
  2. Choose "SOL" from the list
  3. Enter the amount in euros (e.g. 500 EUR)
  4. Review the price and fees
  5. Click "Buy SOL"

Buying ETH ETH

  1. Click "Buy Crypto" or "Exchange"
  2. Choose "ETH" from the list
  3. Enter the amount in euros
  4. Review the price and fees
  5. Click "Buy ETH"

Market vs Limit order — what's the difference?

Market order — you buy immediately at the current price. Like at a shop — you grab the item and pay.

Limit order — you say "I only want to buy at THIS price." If the price doesn't drop that far, nothing gets bought. Like waiting for a sale.

For beginners, we recommend a Market order — it's simpler.

Withdrawing crypto to your wallet

After buying SOL or ETH, the next step is sending it to your own wallet (Jupiter Wallet or MetaMask). We'll cover that in upcoming lessons.

Quick overview

ParameterSOLETH
NetworkSolanaEthereum or Arbitrum
Fee (1x/month)00
Fee (additional withdrawals)~0.01 SOL~0.005 ETH
Waiting time~1 minute1–5 minutes
Minimum amount0.01 SOL0.001 ETH

Network check — a skill you master in a few seconds

When sending ETH, choose the same network your wallet runs on. It's like an address on a letter — you need the right address AND the right city. The skill is simple: the network you send crypto on has to match on both sides — you check it before hitting "Send", and the transfer lands exactly where it should.

Nexo — pros and cons

Pros

Cons

Taxes in Lithuania

Taxes — what matters to know

Buying cryptocurrency isn't taxed. You only owe tax once you sell and realize a profit. Keep all your purchase records — you'll need them later to calculate your profit.

Frequently asked questions

Can I buy from Lithuania?

Yes! Nexo operates across Europe. A Lithuanian bank account works perfectly.

How long does a SEPA transfer take?

Usually 1 business day. If you send it on a Friday, the money arrives Monday.

Can I buy with a card?

Yes, but the fee will be ~1.5–3.5%. A SEPA transfer is free — better to use that instead.

What if the money doesn't arrive?

Check that you entered the Reference code correctly. If you did, reach out to Nexo support via chat.

Summary

StepTime it takes
Signup + identity verification10–30 min
Bank transfer (SEPA)1–2 business days
SOL/ETH purchase1 minute
Total~1–2 days

Now you have SOL or ETH in your Nexo account. You now know how to make this journey from euros to crypto on your own — you can repeat it anytime with no one's help. Next step: create a crypto wallet and move your assets there.

Quick check
Why is it important to include the Reference code in the payment description when making a SEPA transfer?
Practice task
0 / 5
Your first real purchase — €10-20

Time to move from reading to doing. Signup and KYC take about 30 minutes, and the SEPA transfer takes 1-2 business days. €10-20 is enough for your first purchase — think of it as your 'tuition fee', not an investment.

Use a unique password you don't use anywhere else, and be sure to turn on 2FA. For your first purchase, use only an amount you can afford to lose — you're learning the process here, not investing.

This is learning, not investing — use only small amounts you treat as tuition.

You just walked through the whole chain yourself — signup, KYC, 2FA, a SEPA transfer, and your first crypto purchase. Most people never do this.

What Is a Crypto Exchange?CEX Comparison