Nexo · Credit
Nexo Card review
A Mastercard offering switchable Credit and Debit modes with up to 2% crypto cashback and no monthly/annual card fees, for eligible European users.
Quick answer. Nexo Card is a credit crypto card on Mastercard from Nexo. Rewards: Up to 2% crypto cashback in Credit Mode, tiered: Platinum 2% NEXO or 0.5% BTC, Gold 1% NEXO or 0.3% BTC, Silver 0.7% NEXO or 0.2% BTC, Base 0.5% NEXO or 0.1% BTC (cashback requires balance above $5,000 in digital assets). Annual/issuance No monthly, annual, or inactivity card fees; Weekdays: 0.2% (EEA/UK/CH), 2% (rest of world); Weekends: 0.7% (EEA/UK/CH), 2.5% (rest of world) on foreign spend. Funds are custodial; it supports Cashback paid in NEXO or BTC. Available in Selected European countries, including the EEA and the United Kingdom.
Key takeaways
- Network & type: Credit · Mastercard
- Rewards: Up to 2% crypto cashback in Credit Mode, tiered: Platinum 2% NEXO or 0.5% BTC, Gold 1% NEXO or 0.3% BTC, Silver 0.7% NEXO or 0.2% BTC, Base 0.5% NEXO or 0.1% BTC (cashback requires balance above $5,000 in digital assets)
- Annual fee: No monthly, annual, or inactivity card fees
- FX / spend fee: Weekdays: 0.2% (EEA/UK/CH), 2% (rest of world); Weekends: 0.7% (EEA/UK/CH), 2.5% (rest of world)
- Custody: Custodial
- Coins: Cashback paid in NEXO or BTC
Our rating, explained
Every card is scored on the same six factors — the weighting shows how much each counts toward the overall (provisional) score. How we rate →
Who it's for
Choose it if…
- You want no annual or monthly fee
- You spend enough for cashback to add up
- You pay with Apple Pay or Google Pay
Look elsewhere if…
- You want to avoid identity verification (KYC)
- You insist on holding your own keys (this card is custodial)
- You spend heavily abroad (a foreign-exchange fee applies)
How it compares to the field
Put in context against all 67 crypto cards we track and verify.
Overview
The Nexo Card is a crypto-backed Mastercard that offers a unique blend of flexibility and rewards for users in selected European countries, including the EEA and the United Kingdom. Issued by Nexo, a well-known name in the cryptocurrency lending space, this card operates in two modes: Credit and Debit. This dual functionality allows users to switch between modes in-app, providing greater control over their spending and financial management.
One of the standout features of the Nexo Card is its tiered crypto cashback system, which can go up to 2% when using Credit Mode. However, achieving the highest cashback rate requires maintaining a Loyalty tier based on your NEXO portfolio ratio and a digital asset balance of at least $5,000. This structure incentivizes users to hold more NEXO tokens and other digital assets with Nexo, aligning with the company’s business model of promoting its native token.
How it works
The Nexo Card operates on the Mastercard network, ensuring wide acceptance across merchants that accept Mastercard. Users can choose to earn cashback in either NEXO tokens or Bitcoin (BTC), depending on their preference and investment strategy. The cashback rates are tiered as follows:
- Platinum: 2% cashback in NEXO or 0.5% in BTC
- Gold: 1% cashback in NEXO or 0.3% in BTC
- Silver: 0.7% cashback in NEXO or 0.2% in BTC
- Base: 0.5% cashback in NEXO or 0.1% in BTC
It’s important to note that the top cashback rate of 2% is only available to Platinum tier users, who must maintain a significant balance in digital assets and a higher NEXO portfolio ratio. This requirement may be a barrier for some users, particularly those who are new to cryptocurrency or prefer not to hold large amounts of digital assets.
Fees and value
The Nexo Card is designed to minimize fees for users, with no monthly, annual, or inactivity fees. This can be a significant advantage for users who want to avoid the common pitfalls of traditional credit and debit cards. However, foreign exchange (FX) fees are a different story. The card charges a 0.2% fee on weekdays for transactions in the EEA, UK, and Switzerland, which is relatively low compared to other cards. However, this fee increases to 2% on weekends and for transactions outside these regions, which could be a drawback for frequent travelers or those who make international transactions regularly.
ATM withdrawals are free up to a monthly allowance that varies by tier, with the Platinum tier offering up to €2,000 or £1,800 per month. Withdrawals above this limit incur a 2% fee, with a minimum charge of €/£1.99. This structure provides a reasonable amount of flexibility for users who need to access cash, but it’s important to be aware of the limits and potential fees.
Who it’s for
The Nexo Card is best suited for cryptocurrency enthusiasts and users who already have a significant holding of digital assets, particularly NEXO tokens. The tiered rewards system and the requirement for a $5,000+ balance to achieve the highest cashback rate mean that this card is more beneficial for those who are deeply invested in the Nexo ecosystem. Additionally, the card’s availability in selected European countries may limit its appeal to a broader international audience.
For users who prioritize low fees and flexibility in spending, the Nexo Card offers a compelling option, especially with its support for Apple Pay and Google Pay. However, those who are sensitive to foreign exchange fees or who do not meet the tier requirements may find the card’s benefits less pronounced.
Overall, the Nexo Card is a robust choice for users who are comfortable with the cryptocurrency market’s volatility and want to leverage their digital asset holdings for everyday spending.
For more detailed comparisons, visit our comparison page. To understand our rating methodology, check out how we rate cards.
Fees & costs
| Fee | Amount |
|---|---|
| Annual / issuance | No monthly, annual, or inactivity card fees |
| FX / spend fee | Weekdays: 0.2% (EEA/UK/CH), 2% (rest of world); Weekends: 0.7% (EEA/UK/CH), 2.5% (rest of world) |
| ATM withdrawal | Free ATM withdrawals up to a monthly allowance that varies by tier (e.g. Platinum up to €2,000 / £1,800 per month); 2% fee (min €/£1.99) above the free allowance |
| Top-up / load | — |
| Staking / lockup | None (Loyalty tier is based on NEXO portfolio ratio, not staking) |
Pros & cons
Pros
- Dual Credit/Debit mode switchable in-app
- No monthly, annual, or inactivity card fees
- Low FX fees for EEA/UK/CH (0.2% on weekdays); Apple Pay and Google Pay supported
Cons
- Availability limited to selected European / EEA + UK countries
- Top cashback (2%) and best fee tiers require higher Loyalty tier (NEXO holdings) and a $5,000+ balance
- Higher FX fees (up to 2.5%) outside EEA/UK/CH and on weekends
Supported crypto
Coins:
Chains:
Our take
Interesting if you want to spend against your crypto without selling — but understand the liquidation risk of the credit mode.