Nebeus.com Review 2022 – Strenghts and Weaknesses of Nebeus

View offers »

Visit Website

Nebeus is an online platform that offers lending, trading and remittance sending services. It is associated to Money-4 Limited, a company registered in the United Kingdom, based in the capital, London. It was founded in March, 2015 by Sergey Romanovskiy and Igor Chelnokov.

Using the site: signing up

Opening a new account on Nebeus is as simple as writing your name, last name, email picking your country of residence, and choosing a password. The validation of the signup form is not too strict, but their terms are clear enough regarding anonymous accounts. When you accept the terms and conditions of the site you grant them the right to shut down your account without prior notification if you are caught using false information.

Using the site: account verification

Both lenders and borrowers have to verify their accounts before gaining access to the lending / borrowing features. The process is simple in theory, but some users have claimed it is not as straightforward as it should.

The verification starts with your phone, with the confirmation code that they will send to you via SMS after adding your number to your account. Then, you are required to upload a copy of your national ID or passport with the picture clearly visible; you need to fill a form with your birth date and the number printed on your document for validation purposes. Finally you have to prove that you live in the address you claimed as your residence, by submitting a recent utility bill whose address must match the one you specified on the site.

Finishing the whole verification process is not mandatory for lenders, but linking a phone number is. A message warns you that you won’t be able to use the borrowing and lending features till you confirm your number.

haven’t you verified your phone number? no problem, you can do nothing and the site will tell you so once and again

Using the site: lending

Nebeus offers two types of loans that differ only in the number of creditors to whom the borrower will have to respond. There are two ways for users to become lenders: going to the list of loan requests and funding one totally or partially, or creating a loan offering and waiting for the system to match it with potential borrowers.

The site does charge a fee on its investors in the form of a 10% fee on the profit. The fee is taken only after a loan has been repaid in full and the customer is notified via email and in-site of the movement.

The minimum yield a user can expect is 12.5%, which is the minimum for a Bitcoin loan according to the site. On the other hand, interest rates depend on each lender and are defined on a daily basis, but all must be within a pre established range of 0.01 to 3%.

All loans are funded and repaid in Bitcoin, so market variations in the price of the cryptocurrency technically do not have a direct impact. The longest period a loan can be active (without defaults) is one year, with a minimum duration of just a day.

Using the site: borrowing

From the borrower’s perspective the use of the platform is more or less the same, with the only exception being the internal credit score that the site assigns to every user. The received rating dictates the limits a particular borrower will have when he wants to request a loan, but it improves after each successful transaction (and, of course, worsens with bad outcomes such as late repayments).

The identity verification awards 12.5 points, which enable a user to obtain a loan of up-to 0.5 BTC for 30 days or less (perhaps, the duration of the first loan cannot exceed 10 days, according to the “loan request” form).

A successful first loan should be enough to have more than the 16.5 points needed to raise the limits to 5 BTC and 45 days, respectively.

The third loan is capped at 10 BTC with a maximum duration of 90 days. A user is expected to have at least 63.5 points in order to be able to request such loan. Instant loans are also available after 50 points (two successful loans).

To request a loan, go to the “issue a loan” menu, select “create loan request” and then “request a loan”. A form will show up, when you are asked to specify the terms of the loan.

This “Request a loan” button is the one you have to click

You need to select a base currency (Bitcoin is the only available for now), the “type” (which is not the same described above, but a set of ranges for length and amount), the exact amount needed, the number of days for which the loan will run (under normal conditions) and the daily interest rate (within the already mentioned range).

The first fields to fill in the request loan form. The “Issue a loan” menu was highlighted as well.

You also have control over the minimum amount you are willing to borrow overall (if your loan is not completely funded) and from each investor. Then you select how you want to repay, either with a single payment at the end of the period, an annuity or a differential payment schedule. The latter is the best choice from the point of view of the borrower.

Finally, you are prompted to add any additional information which could persuade potential lenders to contribute with your loan (for example, a description of the reason why you are asking for it). Any available offers from lenders, relevant and meeting your terms, will be shown immediately; if not, you can proceed to post the request, accepting the terms and conditions.

I guess my request would have not been very convincing, would you have lent me your coins?

Nebeus statistics

There is no much information about the behavior of the site and its users. The only information easily available is the number of loans, which is stated as a mere “34 loans per day” on their home page.

34 loans? where?

We tried to get in touch with the Nebeus team through their contact email, kindly requesting access to some of their statistics, but after three days we have received no answer. The site does not have live chat.

If the daily loans claimed by the platform is true, most of them happen behind the scenes, because the listed loans are not funded further than 1% and no relevant variations were observed in the last few days (i.e. the requests are the same and no additional investments seem to have landed on them).

Nebeus on the media

There are no references in the news, not even in the Bitcoin journals like CoinTelegraph or Coindesk, to the platform. A member of its board of directors is mentioned in a Ukrainian portal, in an article about the success of Bitcoin, but nothing relevant is said about Nebeus.

There are not many customer reviews about Nebeus on the internet and the existing ones seem to be mixed. Repdigger gives the site a 65% reputation score, warning about their using a WHOIS protect service to hide the identity of the owners of the domain. Scam Adviser on the other hand, is not so “positive” about the platform and gives them a 55% score.

Conclusion

Nebeus might be great in the other services they offer, but to lend or borrow there are better alternatives out there. The verification process is apparently slow and the loans listing seems frozen. The reputation system is not very solid and it looks like fertile ground for scammers (that is probably the reason why most loans receive no funding); it is hard to believe someone would repay a loan taken at a 3% daily interest rate for a month or more.

Hey there, I am Justin, but my friends call me Scammstin