I describe Nebeus, a very new startup in the lending industry. Nebeus' service has just started and does not have many customers. I personally think that the high interest rate is a good point, and I deposit my assets here as one of my diversified investments.
Overview of Nebeus
Nebeus is a London and Barcelona-based fintech startup founded by Sergey Romanovskiy in 2014. The company is registered with the Spanish Commercial Registry, and Spain appears to be the primary location of Nebeus' business activities. The Nebeus website is available in English, Spanish, and German, indicating Europe as the main customer base.
Nebeus started its lending business in 2020 and had over 60,000 users in that year alone. By 2021, nearly 100,000 users — making it a fast-growing company. In 2018, Nebeus raised £1.1 million in crowdfunding. Nebeus also won the Global Award for “Digital Lending Innovation” at the Finance Monthly Fintech Awards 2021.
Nebeus is compliant with all UK and EU regulations and obtained an EMI license in 2021. The company's corporate philosophy is to provide financial services through cryptocurrencies to those without bank accounts — targeting the 1.7 billion unbanked people in the world.
Nebeus offers four main services:
- Crypto Renting (interest rate service)
- Crypto-Backed Loans
- Cryptocurrency Exchange
- Cryptocurrency Insurance
Nebeus Interest Service (Crypto Renting)
Nebeus offers interest rate services, but note that you cannot earn interest simply by depositing — you need to lock your funds. The service is only available in four currencies:
- Crypto: BTC and ETH only
- Stablecoin: USDT and USDC only
Crypto Plans (BTC and ETH)
| Plan | Minimum | Lock Period | APY |
|---|---|---|---|
| Juniper | 0.0025 BTC or 0.03 ETH | 1 month+ | 3.5% APY |
| Sequoia | 0.12 BTC or 3 ETH | 4 months+ | 6.75% APY |
Stablecoin Plans (USDT and USDC)
| Plan | Minimum | Lock Period | APY |
|---|---|---|---|
| Bonsai | 50 USDT or 50 USDC | 1 month+ | 6.5% APY |
| Baobab | 1000 USDT or 1000 USDC | 4 months | 12.85% APY |
Baobab's 12.85% APY on a 4-month stablecoin lock is one of the highest interest rates in the industry for stable coins. I use the Baobab service with my stable coins to operate at this industry-leading rate.
Loan Service
Nebeus offers two loan options:
Quick Loans
Loans that can be borrowed instantly. Available for USD, GBP, EUR, USDT, and USDC. Term: 3 months. Up to €500. No interest.
Flexible Loans
Borrow up to 80% of the value of your deposited crypto, selecting your own terms. Up to €250,000 for up to 36 months. Loan-to-value up to 80%.
- Quick Loan: 50% LTV, 0% interest for 3 months
- Flexible Loan: up to 80% LTV, with interest for up to 36 months
Getting a loan is easy — just three steps:
- Transfer crypto to your Nebeus account
- Select a loan plan
- Borrow fiat or crypto currency
Exchange Service
Nebeus also has an exchange function with a stated commission of up to 0.35%. However, as with all lending service exchanges, there are hidden fees and settlement happens at a premium to market price. Not recommended for regular use.
Insurance Services
Nebeus has a custody contract with BitGo and insurance contracted with Lloyd's of London — both world-class. BitGo provides bank-grade cold storage security with up to $100 million in insurance coverage. However, this insurance is primarily for institutional investors. General users must purchase insurance separately:
- Unit Service: Insurance for one cryptocurrency — €4/month
- Full Service: Insurance for all deposited funds — €6.90/month
Deposits and Withdrawals
Nebeus offers a wide variety of remittance channels — a key strength. Supports cash transfers to over 150 countries, mobile top-ups with over 500 operators, deposits at 230,000+ retail locations and post offices. Visa and MasterCard are also supported.
- Visa/MasterCard deposit: 2.90% per transaction
- SEPA deposit: free (€7 or 1% fee per transfer)
- Withdrawal: minimum €5, maximum €3,500 per transaction, 2.8% fee
- SEPA withdrawal: minimum €7, 1% fee
Customer Support
No real-time chat is available — support is via email or ticket submission. Despite this, response times have been fast and flexible in my experience. Perhaps because the user base is still small, but Nebeus customer support is better than many other lending companies.
Mobile App
Nebeus has mobile apps for Android and iOS (released August 2021). The app has 2FA and basic security but is somewhat slow and appears to run on HTML rather than native mobile code. Improvement of the UI/UX is something to look forward to in future updates.
Pros & Cons
Pros
- 12.85% APY on 4-month stablecoin lock — industry-leading
- Extensive bank transfer and withdrawal options
- Fast customer support response
- SEPA bank wire transfer support
- Lloyd's of London insurance available
Cons
- New company — weaker credit and financial strength
- Insurance is for institutional investors only; individuals must buy separately
- Very few user reviews available
- Only 4 coins earn interest (BTC, ETH, USDT, USDC)
- Funds must be locked to earn interest
- Mobile app needs improvement
Summary
Frankly, Nebeus has more disadvantages compared to other lending companies. I use Nebeus as one of my diversification investments and because of the high interest rates on stablecoins. However, I would not recommend Nebeus to first-time users of lending services.
Nebeus may be a suitable choice for experienced users who want to diversify their lending portfolio, or for those living in Europe who can take advantage of the excellent SEPA remittance and payment options. As the company grows and adds more supported coins and services, it has the potential to become more competitive.