I wanted to provide some clarity as to how these custodial wallet providers like Nexo actually get the rewards they pay out to their customers as interests for being the custodian of their crypto. It's pretty simple actually, they give your Bitcoins out to lenders and in turn, you get to earn from the proceeds. But that's not always the case and you might end up actually losing both your Bitcoins and the supposed interest.

Here's a link to the SEC filing against Gemini: https://www.sec.gov/news/press-release/2023-7

FYOR, this is a similar product offering to Nexo. The best and primary way to store and hold crypto is self-custody. Afterall, the best way to get something done is to do it yourself. The same applies for taking responsibility for the security of your Bitcoin.