Nexo vs Strike
The lower in-app rate against a revolving line that re-lends your collateral.
Rates as of June 2026 · Verified weekly · By Michael Song
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The bottom line
Both hold collateral themselves, but Strike does not rehypothecate while Nexo does, and the rate gap is wide (Strike around 7.49% vs Nexo near 18.9%). Strike runs 12-month loans with no origination or liquidation fee inside its app. Nexo is an open revolving credit line you can draw and repay at will. Choose Strike for the far lower cost and untouched collateral; choose Nexo only if an always-open line outweighs the rate and rehypothecation.
Conditional guidance, not a recommendation. The right pick depends on your loan size, LTV, state, and what you value most. Rates can change; the table below is the live source.
Nexo vs Strike, side by side
 Nexo |  Strike | |
|---|---|---|
| Effective APR$100k loan, 50% LTV, all-in | 18.9% | 11.02% |
| Starting APR | 18.9% | 7.49% |
| Origination fee | None | None |
| Liquidation fee | None stated | None |
| Max LTV | 50% | 50% |
| Custody model | Lender-held | Lender-held |
| Rehypothecation | Yes | No |
| Margin-call cure window | Not published | 72 hours |
| Funding speed | Same day | Same day to 1 day |
| Minimum loan | $50 | $10,000 |
| Maximum loan | $2,000,000 | $5,000,000 |
| Loan terms | Not published | 12-month fixed-term loan. Separate line-of-credit product also available (revolving, no maturity date). |
| Prepayment | Not published | No prepayment penalty. Full closure permitted after 61 days. Cash repayments free; BTC collateral repayment incurs 0.79% processing fee (state-dependent). |
| Operating since | 2018 | 2017 |
| Availability | All 50 states | All 50 states |
Rates and fees
On a $100,000 loan at 50% LTV, Strike is the cheaper borrow: an all-in effective APR of about 11.02% versus 18.9% at Nexo, a gap of roughly 7.88 points before fees. Neither charges an origination fee, so the headline rate is closer to the real cost.
Custody and counterparty risk
Nexo holds collateral via lender-held, while Strike uses lender-held. Nexo rehypothecates pledged Bitcoin (re-lends it); Strike does not, which means less exposure if the lender runs into trouble.
Leverage, limits, and speed
Minimums differ: $50 at Nexo versus $10,000 at Strike. Funding runs same day at Nexo and same day to 1 day at Strike.
Track record and availability
Strike has the longer history, operating since 2017 versus 2018.
Strengths and trade-offs
Nexo
- Relaunched in the US in February 2026 via Bakkt after a 2022 exit
- Global credit line: 1.9% to 18.9% APR, 50% LTV on BTC, $50 to $2M, no origination or monthly fees
- Liquidation is partial: Nexo repays part of the credit line from a portion of collateral
- Instant funding once approved
- US-specific terms pending confirmation from Nexo or Bakkt
Strike
- No origination fee
- Proof-of-reserves for collateral
- $2.1B credit facility with Tether (2026)
- Volatility-proof loan structure (announced 2026)
- Bitcoin-only
- Collateral held by Strike or capital partners, not a named third-party qualified custodian
- Limited consumer state coverage (21 states as of March 2026)
- Lending product launched 2024
About each lender
Nexo
Nexo offers instant crypto-backed credit lines, letting you borrow against Bitcoin without selling. After a 2022 US exit and a 2023 SEC settlement over its Earn product, Nexo relaunched in the US in February 2026 through regulated partner Bakkt. US-specific credit-line terms had not been separately published as of mid-2026.
Strike
Bitcoin-only loans with no origination fee. Collateral held by Strike or capital partners in segregated wallets, no named third-party qualified custodian. Proof-of-reserves published. $2.1B credit facility with Tether.
Frequently asked
Is Nexo or Strike cheaper?
On a $100,000 loan at 50% LTV, Strike is cheaper, with an all-in effective APR of about 11.02% versus 18.9%.
Which has lower custody risk, Nexo or Strike?
Nexo uses lender-held and Strike uses lender-held. Check the rehypothecation row above, as re-lending of collateral adds counterparty risk.
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borrowonbitcoin.com is a comparison publisher, not a lender or financial advisor. Rate data verified June 19, 2026. How we verify rates · Full disclosures.