Nexo Card Review
Why choose this provider
- Spend crypto without selling your assets
- Earn crypto cashback on purchases
- No annual fee (depending on tier)
- Flexible repayment options
Risk warning: Cryptocurrency is a volatile, high-risk asset class. Prices can fall as well as rise, and you could lose some or all of the money you put in. Custodial providers carry counterparty risk; self-custody puts key security entirely on you. This page is general information, not financial advice.
Review summary
The Nexo Card is a crypto-backed credit card that lets you spend without selling your assets. It offers crypto rewards on everyday purchases, but is custodial and requires careful review of terms.
Pros
- Spend crypto without selling your assets
- Earn crypto cashback on purchases
- No annual fee (depending on tier)
- Flexible repayment options
Cons
- Custodial - you do not control private keys
- Risk of liquidation if collateral drops
- Interest charges on borrowed amounts
- Not available in all countries
Day to day
The Nexo Card is a crypto-backed credit card that lets you spend without selling your assets. It offers crypto rewards on everyday purchases, but is custodial and requires careful review of terms. Nexo Card is custodial, meaning the operator holds the assets backing the product.
Worth it when
Nexo Card earns its place if spend crypto without selling your assets matters more than a polished marketing page. The second selling point is earn crypto cashback on purchases. Power users also cite no annual fee (depending on tier).
Double-check
We would plan around Custodial - you do not control private keys, Risk of liquidation if collateral drops, and Interest charges on borrowed amounts. Test with a small balance before you move long-term holdings. Model FX markup and ATM fees on the Nexo Card, not just the cashback headline. Check whether a token stake is required for the tier you want.
Context from our research
In side-by-side comparisons, Nexo Card usually wins on spend crypto without selling your assets. Whether that is enough depends on how you actually hold crypto.
Model FX markup and ATM fees on the Nexo Card, not just the cashback headline. Check whether a token stake is required for the tier you want.
After a few weeks on Nexo Card, spend crypto without selling your assets is usually what people mention when they recommend it to friends.
Model FX markup and ATM fees on the Nexo Card, not just the cashback headline. Check whether a token stake is required for the tier you want.
After a few weeks on Nexo Card, earn crypto cashback on purchases is usually what people mention when they recommend it to friends.
Key details
| Effective rewards | 0.5-2% (credit-mode purchases only, not debit) |
|---|---|
| Reward asset | NEXO (up to 2%) or BTC (up to 0.5%) |
| Staking tier | Loyalty tier by NEXO-to-portfolio ratio; higher cashback needs >~$5k portfolio and NEXO holdings |
| Custody | Custodial |
| Annual fee | No monthly or annual fee |
| FX fee | FX fee applies even in EEA/UK, higher on weekends |
| ATM fee | Free to monthly limit by loyalty tier, then fee |
| Conversion spread | Standard, applies on debit-mode conversions |
| Network | Mastercard |
| Apple / Google Pay | Yes |
| Region availability | EEA and UK only (exited US 2024); physical card orders temporarily paused |
Provider FAQs
Is the Nexo Card a credit card or debit card?
What rewards does the Nexo Card offer?
What happens if my crypto collateral loses value?
How does the Nexo Card fund everyday spending?
Is the Nexo Card custodial?
Which fees matter most on the Nexo Card?
What is the biggest catch with the Nexo Card?
Bottom line
The Nexo Card offers a convenient way to spend crypto without selling, earning rewards along the way. However, its custodial nature and reliance on collateral mean it carries risks that require careful management. It is best suited for experienced crypto users who understand the mechanics of crypto-backed credit.
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