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Nexo Card Review 2026
What we like
- Works as both a debit and credit card
- Up to 2% cashback (NEXO) or 0.5% cashback (BTC) on credit purchases
- Supports 100+ cryptocurrencies for spending and collateral
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission. You can read more about our editorial policy here.
Nexo Card is a crypto spend card that combines features of both a debit card and a credit card. In our Nexo Card review, we’ll take a close look at everything this crypto card can do and see how it stacks up against other spending solutions.
Our review covers Nexo Card’s debit and credit spending modes, cashback and other benefits, card fees, security, and more. Keep reading to find out if Nexo Card is right for you.
Our Take on Nexo Credit Card: Pros and Cons
The Nexo Card is a versatile card that serves as both a credit and a debit card. That flexibility can be huge for some crypto users who want the ability to spend tokens at certain times and earn crypto at others. The Nexo Card also supports more than 100 tokens for debit transactions, which further improves the card’s appeal.
One caveat is that you will need to manage the app quite carefully to maximize rewards and minimize fees. You need to keep track of your Loyalty Program tier, your outstanding loan balances with Nexo, your overall account balance, what tokens you’re spending and earning, and more.
Overall, we believe Nexo Card is a great option for crypto users who are fully committed to Nexo’s Loyalty Program and other crypto banking features. For casual users who just want to earn crypto rewards, compare it to other cards to see if the fees and rewards work best for you.
Pros
- Works as both a debit card and a credit card
- Tight integration with Nexo’s crypto banking ecosystem
- No annual fee
- Up to €2,000 / £1,800 in free ATM withdrawals per month
- Supports spending and repayment in 100+ cryptos
- Customizable spending limits and alerts
Cons
- Only available in Europe and the UK
- High fees for debit card purchases
- Average crypto cashback rates
- Can be complex to minimize fees and maximize rates
- Physical card requires a minimum $5,000 balance
What is Nexo Card?
Nexo Card is a spend card from crypto bank Nexo that enables holders to spend crypto assets on real-world purchases, both online and in-person. Nexo Card is backed by Mastercard and is accepted anywhere where Mastercard is accepted.
Nexo Card is distinct from other crypto credit cards in that it doesn’t just offer rewards in digital assets. It actually lets you pay using crypto and take out a crypto-denominated loan from Nexo, which you can pay back anytime. Nexo Card also functions as a debit card, so you have the option to spend crypto tokens you own rather than use a line of credit.
How Does the Nexo Crypto Card Work?
On the surface, Nexo Card works just like any Mastercard credit or debit card. You can use it to pay for purchases at any in-person and online retailers that accept Mastercard.
Behind the scenes, Nexo Card is much more interesting. First, it allows you to pay for purchases with the cryptocurrency of your choice. Nexo automatically handles the conversion process from your chosen digital asset to the merchant’s payment currency.
Additionally, the Nexo Card serves as both a debit card and a credit card. For each purchase, you can set the card’s ‘mode’ to decide whether to pay with digital assets you own or using a crypto loan from Nexo. Credit must be backed by collateral in the form of tokens in your Nexo account, but there’s no fixed term for repaying loans. Purchases in credit mode also earn cashback in NEXO or BTC.
Nexo Card is integrated with the broader Nexo crypto banking ecosystem, so you can earn interest on tokens in your account and swap cryptocurrencies through Nexo with ease. Your total crypto balance held with Nexo and your Nexo Loyalty Program tier also impact what benefits and interest rates you qualify for when using the Nexo Card.
Nexo Card Overview
Here’s a quick rundown of the key things you need to know about Nexo Card.
| Card type |
|
| Annual fee | $0 |
| Sign-up bonus | None |
| Rewards |
|
| Interest rate | Varies by Nexo Loyalty Program tier:
|
| Base currency | GBP or EUR |
| Foreign transaction fees |
|
| Other benefits |
|
| Availability |
|
Nexo Card Perks and Features
The Nexo Card is unique in offering users a choice between spending in debit or Nexo Card’s credit mode, creating flexibility to craft their own crypto strategy. It’s also packed with features and benefits, including interest on debit balances, cashback on credit purchases, and support for hundreds of cryptocurrencies.
Let’s take a closer look.
Supported Cryptocurrencies
Nexo Card enables you to make debit purchases in any of 100+ cryptocurrencies that Nexo supports. This includes stablecoins, FIATx tokens, and popular cryptos like BTC, ETH, XRP, BNB, and DOGE. Cryptocurrencies are converted automatically to a merchant’s payment currency at the time of purchase, so you don’t have to convert cryptocurrencies ahead of time.
For credit purchases, you can use any of the same 100+ supported cryptocurrencies as collateral for a Nexo credit line. All Nexo credit loans are denominated in USDx, but you can repay loans in any Nexo-supported tokens.
Credit and Debit Mode
One of the most unique aspects of Nexo Card is that it can be used as either a debit or credit card and flexibly switches between the two. To change modes, all you have to do is tap a button in the Nexo app. There’s no limit to how many times you can change modes, so you can decide for each purchase whether to pay with credit or debit.
In debit mode, you’ll pay for transactions using your Nexo crypto balance. You can set a custom spending order to determine the order in which different assets will be spent. For example, you could choose to always spend USDT first if you have it in your Nexo account, and only spend BTC if you run out of USDT. You can change the spending order at any time and set any token as non-spendable.
In credit mode, Nexo will initiate a crypto loan in USDx and pay for your purchase on your behalf. To access credit, you must provide collateral in the form of digital assets in your Nexo account. Nexo displays your maximum credit limit based on your holdings so you know how much you can spend. Credit loans have no term limits and can be paid back at any time.
Cashback
Nexo Card offers cashback on credit purchases only, not debit purchases. Cashback is paid in either NEXO or BTC, and how much cashback you’ll receive depends on your Loyalty Program tier:
- Platinum: 2% in NEXO or 0.5% in BTC
- Gold: 1% in NEXO or 0.3% in BTC
- Silver: 0.7% in NEXO or 0.2% in BTC
- Base: 0.5% in NEXO or 0.1% in BTC
Interest
Crypto balances held at Nexo are eligible to earn interest if you’re a member of Nexo’s Loyalty Program. All assets held with Nexo are eligible to earn interest, even if they’re currently being used as collateral for a loan or credit line.
Interest rates vary by token and your Loyalty Program tier. For Platinum tier members, Nexo offers rates up to 14% APY for DOT, 6% APY for BTC, 7% APY on ETH, and 13% APY on USDT.
Nexo Card Loyalty Program
Nexo’s Loyalty Program has a big impact on what perks you get from Nexo Card. So, it’s important to understand how the Loyalty Program works and what you can expect in different tiers.
First, in order to qualify for the Loyalty Program, you must have a minimum balance of $5,000 held with Nexo. Once you meet that requirement, there are four program tiers: Base, Silver, Gold, and Platinum. Which one you qualify for depends on the percentage of your total account holdings that are in NEXO tokens.
Here’s an overview of the program and the benefits for Nexo Card holders.
| Base | Silver | Gold | Platinum | |
| NEXO ratio | Up to 1% of account balance as NEXO | 1%-5% of account balance as NEXO | 5%-10% of account balance as NEXO | Greater than 10% of account balance as NEXO |
| Minimum Borrowing Rate | 18.9% APY | 17.9% APY | 13.9% APY | 10.9% APY |
| Maximum Borrowing Rate | N/A | N/A | 5.9% APY | 2.9% APY |
| Cashback in NEXO | 0.5% | 0.7% | 1% | 2% |
| Cashback in BTC | 0.1% | 0.2% | 0.3% | 0.5% |
Your Nexo Loyalty Program tier will also impact what interest rates you qualify for on tokens held in your account. Nexo only publicizes the maximum rate.
Nexo Credit Card Application Requirements
Nexo Card is only available to residents of the European Economic Area (EEA) and the UK. The application process requires a full Know Your Customer (KYC) check, including identity and address verification.
In order to apply for a virtual Nexo Card, you must have a minimum balance of $50 held at Nexo. However, once you activate the card, there is no minimum balance requirement.
A physical Nexo Card is only available to customers in the Gold loyalty tier.
Nexo Credit Card Fees and Limits
Nexo Card doesn’t have any annual fee. There’s also no application fee and no inactivity fee.
Transaction Fees
For debit card transactions, there are several currency conversion fees. First, there’s a 0.75% swap fee for converting your chosen crypto to EURx or GBPx. Then, if the merchant’s payment currency is different from your card’s base currency, you’ll pay an additional foreign exchange fee. The foreign exchange fee is 0.2% for the EEA and UK and 2% for the rest of the world. An additional 0.5% fee applies to all foreign exchanges on weekends.
For credit card transactions, there are no swap fees, but foreign exchange fees apply if the merchant’s payment currency is different from your card’s base currency. You’ll pay interest on the credit you receive from Nexo according to your Loyalty Program tier:
- Base: 18.9% APY
- Silver: 17.9% APY
- Gold: 13.9% APY
- Platinum: 10.9% APY
In addition, Gold and Platinum members qualify for reduced rates if you have a loan-to-value ratio of less than 20% in your Nexo account. Gold members pay 5.9% APY and Platinum members pay 2.9% APY.
Importantly, Nexo charges additional interest if you repay loan balances early (within 45 days of loan origination). Early repayment doesn’t apply to loan balances if they are only derived from Nexo Card credit charges, but they do apply if your loan balance includes a mix of credit charges and loans initiated through Nexo Borrow. The additional interest is 18.9% APY, applied to your early repayment amount over the remainder of the 45-day period.
Spending Limits
Nexo Card includes limits on purchases regardless of whether they are debit or credit purchases:
- Per transaction: €10,000 / £9,000
- Daily: €10,000 / £9,000
- Monthly: €60,000 / £54,000
In addition, for credit purchases, Nexo may limit your spending based on the collateral available in your account.
ATM Fees and Limits
Using Nexo Card for cash withdrawals from an ATM is free up to a limit determined by your Loyalty Program tier:
- Base: €200 / £180
- Silver: €400 / £360
- Gold: €1,000 / £900
- Platinum: €2,000 / £1,800
Above these limits, a fee of 2% or €1.99 / £1.99 (whichever is greater) will apply.
ATM withdrawal limits also apply:
- Per transaction: €600 / £540
- Daily: €2,000 / £1,800
- Monthly: €10,000 / £9,000
In addition, your Nexo account is protected by two-factor authentication, biometric authentication, and 256-bit Secure Sockets Layer (SSL) encryption. Nexo uses anti-phishing codes to authenticate communications Nexo has been operating since 2018 and holds numerous security certifications, including ISO 27001 and SOC 2 Type 2. The company is registered with numerous countries in Europe and around the world. In addition, customer accounts are fully insured. Gemini Card is a Mastercard crypto credit card that offers 4% cashback on gas purchases, 3% on dining, 2% on groceries, and 1% on all other purchases. Cashback rewards can be paid out in more than 50 major crypto tokens, including Bitcoin. Gemini Card has no annual fee and no foreign transaction fee. New users can earn a sign-up bonus of $200 in crypto when they spend $3,000 in the first 90 days. Gemini Card is only available in the US. Bybit Card is a crypto rewards debit card that offers variable cashback rewards from 2%-10% based on your monthly spend. It also includes other perks like a 50% discount on airport lounge access, free access to Netflix, Spotify, and Amazon Prime. Bybit Card has some significant limitations, however. It only supports BTC, ETH, XRP, TON, USDT, USDC, MNT, and BNB. There’s a 0.9% crypto-to-fiat swap fee, a 1% foreign transaction fee, and a 2% ATM withdrawal fee (after a monthly limit of $100 in free withdrawals). You also can’t customize spending limits on the card. Coinbase Card is a Visa debit card that you can link to your bank account, making it just like a traditional fiat debit card – but with crypto cashback rewards. You’ll earn a minimum of 1% cashback, with rewards up to 4% when you choose to receive promoted tokens like Stellar (XLM) or The Graph (GRT). You can change your token for rewards at any time. While Coinbase Card doesn’t have annual fees or foreign transaction fees, the perks and features are limited as well. You don’t get any free ATM withdrawals and you won’t earn interest on your fiat or crypto balances. You also can’t set custom spending limits on the card. Our review also considered users’ experiences with Nexo Card. We read online reviews of Nexo as well as looked specifically for mentions of Nexo Card on forums like Reddit. Finally, we used the Nexo app and online portal to explore the card’s spending controls and ease of use. But keep an eye on transaction fees, especially if you use it primarily as a debit card. The card also works best if you can qualify for the Gold or Platinum loyalty tiers. So, it’s best for users who are all-in on Nexo’s crypto banking services.
Nexo Card Security
Nexo Card comes with robust security features. You can:
Where is the Nexo Crypto Card Available?
Nexo Card is only available to residents of the EEA and UK at this time. You must have a minimum balance of $50 held with Nexo to activate the card.
Disadvantages of the Nexo Credit Card
While there’s a lot to like about Nexo Card and the Nexo Platform at large, this crypto credit and debit card does have a few notable drawbacks.
Nexo Credit Card Alternatives
Nexo Card is competing in a fast-growing market for crypto credit cards, so it’s worth looking at what other crypto companies’ cards offer. Here are three alternatives to the Nexo Card.Gemini Card
Bybit Card
Coinbase Card
Our Methodology: How We Tested and Reviewed Nexo Credit Card
Our Nexo debit card review is based on a close examination of this crypto debit and credit card. We dove into Nexo’s online documentation, including term sheets that explain all the card’s fees and interest rates. We also looked closely at Nexo’s Loyalty Program since this has a major impact on Nexo Card benefits.
Nexo Credit Card Review Conclusion: Who is It Best For?
Our Nexo Card review found that this is a flexible crypto spend card that can be used as both a debit card and credit card. It’s a great option if you hold a large amount of NEXO tokens and can take advantage of the highest cashback rates and lowest interest rates. Nexo Card is also suitable if you want flexibility to spend a wide range of cryptocurrencies or use a mix of credit and crypto borrowing in a single platform.FAQs
Is Nexo Card legit?
Where is Nexo Card accepted?
Do I need a Nexo exchange account to use Nexo Card?
How to get a Nexo Card?
References
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Ryan Glenn
Crypto Content Writer
Ryan Glenn is a content writer specializing in cryptocurrency and blockchain technology. With experience at well-known media outlets, he has built a reputation for in-depth content that bridges technical expertise with mainstream readability.
As a writer, Ryan has produced a wide array of content across the crypto industry. He is the author of a book on cryptocurrency and the founder of a web3 education platform that aimed to make complex blockchain topics accessible to a wider audience.
