Nexo Card Review
A comprehensive review of the Nexo Card and its variants.
Nexo Card (Virtual)
Fee Structure
Monthly
None (no monthly or inactivity fees)
Transaction
None (0.75% crypto-to-fiat conversion in Debit Mode)
FX Fee
0.2%–2% FX fee on weekdays; 0.7%–2.5% on weekends
Issuance
Free
Supported Currency
USDC
Network
N/A (uses Nexo’s internal platform)
The Good
- Dual-mode functionality (acts as both a crypto debit and credit card)
- Up to 2% crypto cashback on credit-mode purchases
- Earn interest (up to 14% APY) on unspent balances in the account
- No monthly, annual, or inactivity fees
- High spending limits (e.g. €10K daily) and generous free ATM withdrawal limits
- Supports over 100 cryptocurrencies and multiple fiat currencies (EUR, GBP, USD)
- Instant virtual card issuance with Apple Pay/Google Pay support
- Low entry barrier (only $50 balance required to activate virtual card)
The Bad
- Not available to users outside Europe (no service for US residents)
- No physical card for most users outside EEA/UK (product is region-limited)
Nexo Card (Physical)
Fee Structure
Monthly
None
Transaction
None (0.75% conversion fee in Debit Mode)
FX Fee
0.2%–2% FX fee weekdays; 0.7%–2.5% weekends
Issuance
Free (no card issuance or shipping fee)
Supported Currency
USDC
Network
N/A (uses Nexo’s internal platform)
The Good
- All benefits of the virtual card, plus ability to withdraw cash at ATMs (up to €2,000/day free within limits)
- Free physical card delivery (expedited once eligibility criteria are met)
The Bad
- High eligibility requirement for ordering – needs ≥$5,000 balance and Gold loyalty tier
Nexo Card Review
The Nexo Card is a first-of-its-kind crypto-backed card that uniquely combines both debit and credit functionalities in one product. Issued on the Mastercard network by DiPocket, it allows users to spend fiat by leveraging their cryptocurrency holdings without selling them. In Credit Mode, the card draws from a crypto-backed credit line (0% APR for low LTV users) so you can spend up to 90% of your crypto’s value while earning up to 2% cashback in BTC or NEXO tokens. In Debit Mode, it lets you spend your available crypto or stablecoin balance directly, with automatic conversion to the merchant’s currency at the time of purchase. Notably, the Nexo Card charges no monthly or annual fees, and offers free foreign transactions up to a monthly limit (with modest FX fees beyond that). Cardholders also continue to earn interest (up to 14% APY) on their assets even while spending, highlighting Nexo’s strategy of integrating spending into a broader wealth management platform. Currently available to clients in the EEA, UK, Switzerland, and select European markets, the Nexo Card provides crypto investors with a flexible, fee-free way to access liquidity worldwide without sacrificing the future growth potential of their digital assets.