Nexo Card
MastercardcustodialKYC: required
2.5 / 5
Net Reward2.8
Availability1.5
Custody & Risk2.0
Features3.2
UX4.2
The Nexo Card is a hybrid Mastercard that functions as both a credit and debit card for cryptocurrency holders. In Credit Mode, users can borrow against their crypto assets without selling them, while Debit Mode allows direct spending from crypto or fiat balances. This dual functionality gives crypto investors liquidity while maintaining potential asset appreciation.
Apply
Slug: nexo-card
Our Verdict
Crypto HODLers who want to access the value of their assets without selling them, European travelers who benefit from competitive foreign exchange rates, active Nexo platform users with significant holdings who can qualify for higher loyalty tiers, and investors seeking passive income through up to 14% annual interest on unspent balances.
Pros and cons
Pros
- Unique dual functionality allows both direct spending and borrowing against crypto assets
- No monthly fees and competitive foreign transaction fees compared to traditional banking cards
- Higher-tier users can access significant benefits (2% cashback, low interest rates, generous limits)
- Earn up to 14% annual interest on unspent balances in Debit Mode
- Seamless integration with Apple Pay and Google Pay for contactless payments
- Assets continue earning interest until the moment they're spent when using Debit Mode
- Accepted at over 100 million merchants worldwide
- Ambitious roadmap with planned global expansion and new features throughout 2025
Cons
- Limited geographical availability (currently only EEA and UK, with expansion underway)
- $5,000 minimum portfolio requirement for cashback and full loyalty benefits limits accessibility
- Physical card ordering temporarily paused since January 17, 2025
- Cashback only available in Credit Mode and requires $5,000+ account balance
- UK users cannot receive cashback due to regulatory restrictions
- Using Credit Mode creates debt that accrues interest until repaid
- Requires keeping funds on centralized platform (counterparty risk)
Supported chains
AvalancheBaseBitcoinEthereumPolygonSolana
Supported cryptos
BTCDAIETHMATICSOLUSDCUSDTXRP
Fees
Annual: €0
Atm Uk: Free up to £180-£1,800/month depending on tier, then 2% (min £1.99)
Monthly: €0
Issuance: Free
Atm Non Uk: Free up to €200-€2,000/month depending on tier, then 2% (min €1.99)
Purchase Transaction: €0
Key Features
- Dual functionality: operates as both credit card (using crypto as collateral) and debit card (direct spending)
- Up to 2% cashback in NEXO tokens or up to 0.5% in Bitcoin (dependent on loyalty tier, Credit Mode only)
- Earn up to 14% annual interest (paid daily) on unspent balances in Debit Mode
- No monthly fees and competitive foreign transaction fees (as low as 0.2% within EEA)
- Integrated with Apple Pay and Google Pay for contactless payments
- Tiered benefits based on percentage of NEXO tokens in portfolio
- No repayment schedule on credit spending
- Accepted at over 100 million Mastercard merchants worldwide
- Customizable spending priority for different assets via app
- Assets continue earning interest until the moment they're spent
Limitations
- Currently limited to European Economic Area and United Kingdom (global expansion underway)
- Physical card ordering temporarily paused since January 17, 2025 (virtual cards still available)
- Cashback requires $5,000+ account balance and is only available in Credit Mode
- UK users cannot receive cashback due to regulatory restrictions
- Credit mode interest rates can be high for lower tiers (up to 18.9% APR)
- Requires keeping funds on centralized platform (counterparty risk)
- Physical card requires Gold loyalty tier and minimum $5,000 portfolio
- Some merchants decline Nexo Card transactions (e.g., certain retailers in Netherlands)
Risks
- CounterpartyCentralized platform risk - users must keep funds on Nexo platform without control of private keysIf Nexo ceases operations, users risk losing access to their funds
- RegulatoryBulgarian authorities investigation for alleged money laundering and financial crimes, with prosecutors claiming the company violated sanctions against RussiaEarly 2023
- RegulatoryForced exit from U.S. market after regulatory challenges, requiring U.S. clients to withdraw fundsLate 2022
- SecurityPotential data leak reported by users who noticed spam emails targeting addresses used only for Nexo, suggesting possible exposure of personal data. Nexo officially denied any breach.Late 2023
- MarketIf crypto prices drop significantly, Loan-to-Value (LTV) ratio increases, potentially triggering margin calls or forced liquidation of assets
- MarketInterest rates can change - Nexo increased the minimum borrowing rate from 0% to 2.9% for Platinum users, ending a previous free-credit perkMay 2024
Rewards & Cashback
Notes: UK residents are not eligible for cashback due to regulatory restrictions. Promotional offers occasionally provide enhanced rates (up to 10% in Credit Mode or 5% in Debit Mode).
Cashback Cap: €50-€200/month depending on tier
Reward Token: NEXO tokens or Bitcoin
Cashback Mode: Credit Mode only
Cashback Rate: 0.5% - 2% in NEXO tokens or 0.1% - 0.5% in Bitcoin depending on loyalty tier
Interest On Balance: Up to 14% annual interest (paid daily) on unspent balances in Debit Mode
Excluded Transactions:Government services, Postal services
Eligibility Requirements: $5,000 minimum account balance required for cashback
Spending Limits
Notes: Nexo Private (Platinum tier) unlocks higher spending limits and custom terms
Atm Daily: €2,000 (€600 per withdrawal)
Atm Monthly: €10,000
Daily Spending: €10,000
Credit Line Max: Up to 90% of crypto value (requires minimum 10% collateral buffer)
Per Transaction: €10,000
Monthly Spending: €60,000
Top-Up Methods
Crypto transferFiat transferBank transfer
Min Amount: $50 for virtual card activation
Banking & Financial Services
✓
IBAN
Personal IBAN accounts support top-ups in USD, EUR, or GBP
Credit & Loan Products
Loan Products
Instant crypto-backed credit line in Credit Mode - no repayment schedule required
LTV Tiers
Up to 90% of crypto value with minimum 10% collateral buffer
Interest Rates
Base: 18.9% APR (High LTV), 15.9% APR (Low LTV ≤20%); Silver: 17.9%/14.9%; Gold: 13.9%/5.9%; Platinum: 10.9%/2.9%
Rates were updated in May 2024 when Nexo increased minimum borrowing rate from 0% to 2.9% for Platinum users with low LTV. Balance recommendation introduced February 2025 for optimal terms.
Security Features
Features: Real-time notifications for every transaction,Freeze/unfreeze card instantly through app,PIN code changes via app,Multi-factor authentication (SMS, email, authenticator app),Anti-phishing code feature for email verification,256-bit SSL encryption,Address whitelisting for crypto withdrawals,Biometric login support (fingerprint/FaceID)
Insurance: Client assets insured 'by millions' in coverage through custody providers. Previously announced $375M insurance via Lloyd's-backed custodians.
Custody Partners: Ledger Vault,Fireblocks
Mobile Wallet Support
Apple PayGoogle PayiOSAndroid
Best For
Crypto HODLers who want to access the value of their assets without selling them, European travelers who benefit from competitive foreign exchange rates, active Nexo platform users with significant holdings who can qualify for higher loyalty tiers, and investors seeking passive income through up to 14% annual interest on unspent balances.
Custody Model
custodialPlatform (Nexo) holds all user crypto; users do not control private keys. Custody transfers to Nexo when assets are deposited or purchased on the platform.
Risk: If Nexo ceases operations, users risk losing access to their funds. While Nexo has maintained solvency during market turbulence (unlike competitors like Celsius and BlockFi), users should be aware of potential vulnerabilities.
Card Issuer & Compliance
Issuer Name: DiPocket UAB
Kyc Required: true
Issuer License: Authorized Electronic Money Institution (EMI) regulated by the Bank of Lithuania
Platform Licenses: Virtual Currency Operator registration in Italy,Crypto Asset Service Provider licenses in Lithuania and Poland,Securities Dealer License in Seychelles,Regulated in over 150 jurisdictions overall
Availability
Available in 29 countries across European Economic Area and United Kingdom. Restricted in 3 countries including Bulgaria (despite Nexo being headquartered there), Estonia, and United States.
Card Tiers
Base
Virtual onlyVirtual only
0% NEXO tokens in portfolio, $50 minimum for virtual card
Fees
Issuance: Free
Monthly: €0
Monthly Limit: €60,000
MastercardApple PayGoogle Pay
Cashback: 0.5% in NEXO or 0.1% in BTC
ATM Free: €200/£180 per month
FX Free: €1,000/month
APR: 18.9% APR (High LTV), 15.9% APR (Low LTV ≤20%)
Monthly rewards limit: €50
Silver
Virtual onlyVirtual only
1-5% of portfolio in NEXO tokens, $5,000 minimum for rewards
Fees
Issuance: Free
Monthly: €0
Monthly Limit: €60,000
MastercardApple PayGoogle Pay
Cashback: 0.7% in NEXO or 0.2% in BTC
ATM Free: €400/£360 per month
FX Free: €2,000/month
APR: 17.9% APR (High LTV), 14.9% APR (Low LTV ≤20%)
Monthly rewards limit: €100
Gold
PhysicalPlastic
5-10% of portfolio in NEXO tokens, $5,000 minimum portfolio value
Fees
Issuance: Free
Monthly: €0
Monthly Limit: €60,000
MastercardApple PayGoogle Pay
Cashback: 1% in NEXO or 0.3% in BTC
ATM Free: €1,000/£900 per month
FX Free: €5,000/month
APR: 13.9% APR (High LTV), 5.9% APR (Low LTV ≤20%)
Monthly rewards limit: €150Free shipping for physical card
Platinum
PhysicalPlastic
>10% of portfolio in NEXO tokens, $5,000 minimum portfolio value
Fees
Issuance: Free
Monthly: €0
Monthly Limit: €60,000
MastercardApple PayGoogle Pay
Cashback: 2% in NEXO or 0.5% in BTC
ATM Free: €2,000/£1,800 per month
FX Free: €10,000/month
APR: 10.9% APR (High LTV), 2.9% APR (Low LTV ≤20%)
Monthly rewards limit: €200Free shipping for physical cardAccess to Nexo Private for higher spending limits and custom terms
Token Economics
NEXO
Merchant Restrictions
Government services- Ineligible for cashback
Postal services- Ineligible for cashback
User Ratings
4.5/5.0 (16,181 ratings)
Trustpilot
4.1/5.0 (46,677 ratings)
Google Play
Generally positive sentiment, especially among active Nexo ecosystem users. '99% of transactions' reportedly go through without issues. Appreciation for instant cashback and convenience of spending crypto.
Roadmap & Updates
Expansion: Latin America (Argentina, Peru, Mexico) following December 2024 Buenbit acquisition; Southeast Asia phased rollout; Global availability by end of 2025
Planned Features:
- Global availability by end of 2025
- Debit Mode Cashback introduction
- Subscription rebates on popular services
- Enhanced cross-border capabilities with reduced fees
- AI-powered tools for personalized financial advice
- AI assistant for card usage optimization
- Enhanced mobile experience with spending analytics
- Futures trading with up to 100x leverage
- Automated OTC trading
- Traditional finance exposure (gold, forex, commodities)
- Structured products with varying risk profiles
Recent Updates:
- Physical card ordering paused since January 17, 2025
- Balance recommendation for optimal Nexo experience introduced February 2025
- Interest rate increase from 0% to 2.9% minimum for Platinum users (May 2024)
- Buenbit acquisition for Latin American expansion (December 2024)
Conclusion
The Nexo Card successfully bridges the crypto and traditional finance worlds by offering users a way to access the value of their digital assets without selling them. Its dual-mode functionality—allowing users to either spend directly from their crypto/fiat balance or borrow against their assets—provides unique flexibility compared to standard crypto debit cards. The card delivers significant value for loyal Nexo users, particularly those at Gold and Platinum tiers who benefit from higher cashback rates, lower borrowing costs, and the ability to earn up to 14% annual interest on unspent Debit Mode balances. However, the card has notable limitations including the $5,000 minimum for full benefits, UK cashback restrictions, and the temporary pause on physical card ordering. The ideal user is a crypto enthusiast with at least $5,000 in digital assets who wants to maintain exposure to crypto's potential upside while accessing liquidity for everyday spending.
Card launched: April 2022
Related cards
Ether.Fi Cash Card
4.5
VisahybridKYC Required
Details of Ether.Fi Cash Card crypto card including cashback rewards, fees, staking requirements, and review. Compare with other cryptocurrency cards.
Networks
BaseEthereumGnosisScroll
Ready Card
4.5
Mastercardself-custodialKYC Required
Details of Ready Card crypto card including cashback rewards, fees, staking requirements, and review. Compare with other cryptocurrency cards.
Networks
BaseBitcoinEthereum
Crypto.com Card
4.0
Visa + MastercardcustodialKYC Required
Details of Crypto.com Card crypto card including cashback rewards, fees, staking requirements, and review. Compare with other cryptocurrency cards.
Gemini Credit Card
4.0
MastercardcustodialKYC Required
Details of Gemini Credit Card crypto card including cashback rewards, fees, staking requirements, and review. Compare with other cryptocurrency cards.
Networks
BitcoinEthereumSolana