Nexo Card allows UK investors to make payments for daily transactions using crypto. Discover the card’s unique credit and debit feature.
Nexo is currently one of the top Web3 platforms to offer a crypto credit-debit card, allowing users to spend their digital assets on credit via its proprietary Nexo Card. Its newest market expansion means that crypto investors in the UK can now use the Nexo Card to effectively pay for everyday transactions without selling their digital asset holdings immediately.
The Nexo Card also comes with bonus features to help users grow their holdings passively. When using the card, they can continue to earn interest on their crypto balances, while also seamlessly switching between “Credit Mode” and “Debit Mode”, a feature unique to the Nexo Card.
In this piece, we’ll outline the Nexo Card’s key features, fees, and compare it to other top crypto debit cards to help you make an informed decision.
Nexo Card Review: Key Features and Benefits
Nexo Card has evolved into one of the top crypto credit cards on the market due to a combination of flexibility and low fees.
Below we’re outlining the main features that have contributed to the card’s success:
Credit Mode vs Debit Mode
To make a transaction, typical crypto cards will debit the amount from your crypto holdings. But using the credit mode on the Nexo Card lets you keep these funds invested and borrow against them at an annual interest rate of just 2.9%.
You can then repay the funds you’ve borrowed at your own pace with either fiat or crypto.
When using the debit mode on your card, you can make direct payments for transactions using your balance of stablecoins or supported cryptos. The card also allows you to pay using fiat currencies like GBP, USD, and EUR.
You can decide which digital assets to spend first via a simple drag-and-drop feature in the app.
Earning Interest and Cashback on the Nexo Crypto Card
Nexo pays daily interest on eligible balances at an annual rate of up to 14%. It’s worth keeping in mind that assets used as collateral will not be considered eligible to earn interest.
Adding to the list of benefits, the platform also offers a 2% crypto cashback on purchases made through the Nexo Card. But higher loyalty tiers (for example, those with portfolio balances above $5,000) can unlock better rates and perks.
Nexo Card Fees, Limits, and Eligibility
When picking a crypto card, there’s a couple of key factors that you should keep in mind. We’re listing the main points here to help you make a decision.
- Card fees: A close look at the platform’s fee structure reveals that it does not charge a monthly, annual, or inactivity fee. It even offers free ATM withdrawals up to £1,800 / €2,000 per month.
- Foreign exchange: FX terms may vary by asset, market conditions, and region. Thus, it’s crucial to check the Nexo Fee Schedule before making a foreign currency transaction.
- Limits: The platform does have a limit on daily and monthly spend/withdrawal amounts. But these limits are higher for Nexo Private clients (balances exceeding $100,000).
- Eligibility: Nexo currently allows residents in the UK and select countries within the European Economic Area (EEA) to sign up for the Nexo Card.
Using the Nexo Crypto Card in Real Life
Here’s how you can start using the Nexo crypto card in just a few minutes without waiting for the physical card to arrive:
Activate Your Virtual Account, and Order a Physical Card (Optional)
- Apply and Verify: On Nexo’s official site or its app, complete the identity verification process, and then open the “Card” tab.
- Activate Instantly: Tap “Activate Card” to simply issue your virtual card. After following the on-screen instructions, you can then add it to Google Pay or Apple Pay and start using your digital assets for transacting. As we saw previously, you can choose the debit mode to spend crypto and stablecoins or the credit mode to borrow against your crypto and earn cashback.
- (Optional) Order a Physical Card: In the app, you can optionally select “Order Card” if you wish to receive a physical card. You’ll need to enter the required details to receive the card through mail delivery.
Security and Collateral Risk Management
To maintain the highest level of security and protect your funds, Nexo employs a number of industry-leading safety measures. These include:
- Controls: You can instantly freeze or unfreeze transactions, set limits, and enable basic biometric locks for higher security.
- Custody and Compliance: Nexo Card features 256-bit encryption and 24/7 client support.
- Collateral Risk: In the credit mode, your crypto will effectively serve as security for the debt you incur. If markets see a significant dip, you may need to top up your collateral. This is why Nexo also offers the option to automatically transfer savings to the credit account to maintain an adequate balance.
Nexo Credit Card vs Other Crypto Cards
To determine if the Nexo Card genuinely offers something unique, it’s helpful to compare its features with those of some of the best crypto cards available.
Here’s a quick look at why Nexo’s crypto card is a game-changer:
Nexo vs Coinbase, Crypto.com, and Wirex
Our research shows that the crypto cards offered by Coinbase, Crypto.com, and Wirex are primarily debit-only, requiring you to sell crypto at the point of sale.
The Nexo Card stands out by offering both a debit mode and a credit mode that borrows against crypto without selling it. Nexo also pays daily interest on unspent balances and offers up to 2% cashback in the credit mode. Although some competitors offer impressive cashback, they often require staking their native token or have other conditions.
Real Pros and Cons for Crypto Users
The Nexo Card comes with a number of key advantages that make it an enticing offer for most crypto users, but for full transparency, we are also highlighting some downsides of its setup. For example, while the Nexo Card is an excellent means to use your crypto for payments globally, it is primarily issued to users in the EEA and now also in the UK.
Nexo Card Pros
- True credit-debit flexibility in one product.
- Offers daily interest payouts (APR up to 14%) on unspent balances.
- Does not charge an annual fee for using the card.
- Nexo’s virtual card can instantly be used for transactions globally.
Things to Consider
- There’s collateral risk when using Nexo’s credit mode during market volatility.
- The card is primarily issued to users in the UK and EEA.
- Highest loyalty perks typically require a minimum portfolio balance of $5,000.
How to Get the Nexo Card in 2025
UK investors can now join Nexo’s expanding ecosystem and easily start using the virtual Nexo Card within a few minutes after signing up on the platform. After completing the KYC checks, users can then activate their virtual card to make purchases at any physical or online store that accepts Mastercard.
Being one of the few prominent platforms to offer both credit and debit features on its crypto card, Nexo aims to lead the next generation of Web3 transactions. Crypto enthusiasts can visit the official Nexo website or download its app to create a new account today.