Nexo Card

Nexo Card blends debit and credit functionalities by offering an instant crypto-backed credit line. Users can spend without selling assets and earn up to 4% cashback. Interest applies on unpaid balances, and the tiered benefits system may require some learning. It’s a powerful tool for experienced users looking to maximize crypto utility without liquidation.

Nexo offers up to 2% cashback for card transactions. The higher your Loyalty level, the higher the cashback you will receive. Loyalty level is based on what % of your crypto holdings on the Nexo platform consist of NEXO Tokens. See the table below for details.

	Base	Silver	Gold	Platinum
Required Nexo Holdings	0% – 1% of Your Crypto Portfolio	1% – 5% of Your Crypto Portfolio	5% – 10% of Your Crypto Portfolio	Above 10% of Your Crypto Portfolio
Cashback in NEXO Tokens	0.5%	0.7%	1%	2%
Cashback in Bitcoin	0.1%	0.2%	0.3%	0.5%
Monthly Rewards Limit	€50	€100	€150	€200

The rewards are paid out in NEXO coin or BTC (Bitcoin), depending on your preference. You can switch between the two as often as you like.

Reality Check While Nexo Card promotes up to 2% cashback, if you're an entry-level user with 1,000 EUR in assets, you'll qualify for 0.5% cashback, capped at 50 EUR per month.

Are other cards more generous at base tier? No, they are not. In fact, Nexo Card offers more value for the entry-level user, than most competitors:

Very Cool:Nexo Card is a unique dual-mode card, which you can switch to be either a debit card or a credit card. When in the debit mode, Nexo Card is connected to your chosen crypto coin balance on Nexo platform. When in the credit mode, your crypto will be used as collateral, so you don't have to convert your crypto in advance, nor when spending with the card.

Alongside, Nexo offers you a personal bank account. You'll receive a Malta-based IBAN bank account number issued in your name.

Not so Great:Third party senders cannot deposit funds into your Nexo bank account - you can only receive deposits from accounts in your name. This means you will not be able to receive your fiat withdrawals from exchanges or receive salary payments.

You can get Nexo Card in both physical and virtual versions, a feature only available with 30% of crypto cards. They'll mail you the physical card, and you can instantly get the virtual card online after completing KYC Identity Verification.

Wondering about the perks of each card type? Here are some highlights:

You will find the physical Nexo Card useful for in-person purchases, while the virtual card will be perfect for online transactions like subscriptions.

The back of Nexo Card

Card Issuer	DiPocket
BIN Number ⓘ	53084968
Validity Period	3 years
Issuing Country	Bulgaria

in Credit Mode: Doesn't Require Crypto Conversion to EUR

With Nexo Card in Credit Mode, you will not need to convert your crypto in advance, nor when spending using the card. When you set it to credit mode, your crypto will be used as collateral only. The time you will likely convert your crypto to real-life currency is when you'll be paying off the card at the end of the month.

in Debit Mode: Converts Your Crypto on Demand

Nexo Card offers instant conversion to EUR at the time of purchase, when in Debit mode. This allows you to hold your crypto and exchange to real-life currency only when you need to. No need to pre-convert your cryptocurrencies or preload the card.

Crypto

 

Crypto to Fiat Conversion Fee	0%
Sell Spread	~0.75%
Transaction Fee	0%
Total Crypto to EUR Cost	~0.75%

 

EUR

Low Cost:Compared to the average ~1.8% crypto-to-fiat cost of other cards, converting crypto with Nexo Card is much more cost-effective (~0.75%). This means that you will get more EUR for your crypto when using this card.

From all crypto cards we reviewed for Europe, WhiteBIT Card, Holyheld Card and Trade Republic Card offer the cheapest crypto-to-fiat conversions (~0.28%, ~0.5% and ~0.7% respectively), while converting crypto with OWNR Card will cost you the most, ~4.64%.

Nexo Card ranks #1 out of 63 amongst all the crypto cards we have reviewed so far. This makes it the absolute winner in its category.

We compared Nexo Card with 42 similar crypto cards, available for the same geographical region. See the resulting pros and cons below.

Strongest Features Against Competitors

Here are the strongest features of Nexo Card against its 42 competitors:

•  Offers up to 50 EUR per month in cashback for entry-level users (exceeding the competitors' 35 EUR average).
•  Provides a substantial ATM widthdrawal allowance of 2,000 EUR per day (average amongst other cards is only 500 EUR).
•  Supports 86 cryptocurrencies (while other cards support an average of 15).
•  Solid company with a 8.5/10 brand authority score (the average for all competing cards is 6/10).
•  You can get both a physical card and a second virtual card (while 70% of competing crypto cards offer only one type - either physical or just virtual).
•  Offers free ATM withdrawals for up to 2,000 EUR per month (which is very generous comparing to the average of 200 EUR free withdrawal limit offered by other cards).
•  Their crypto-to-fiat conversion cost, including all related fees and spread, is among the lowest at ~0.75% (versus an average of ~1.8% with other cards.)
•  Their overall fees & limits structure is incredibly generous, with a score of 7.8/10 (average fees & limits structure rating amongst other cards is 5.7/10).

Weakest Features Against Competitors

Compared to its 42 competitors, here are the shortcomings of Nexo Card:

•  Offers up to 2% cashback (while other cards give an average of 4%).
•  Daily spend is capped at 10,000 EUR (while other cards offer 25,000 EUR daily spend limit on average).

Nexo Card vs. Gnosis Card vs. Ledger CL Card

	Nexo Card	Gnosis Card	Ledger CL Card
Monthly Fee	0.00 EUR	0.00 EUR	0.00 EUR
Crypto to Fiat Cost	~0.75%	0% + Gas Fees	~2.25%
Highest Cashback	up to 2%	up to 5%	up to 2%
Entry-Level Cashback	0.5%	2%	2%
Daily Spending Limit	10,000 EUR	8,000 EUR	15,000 EUR
Daily ATM Limit	2,000 EUR	500 EUR	2,000 EUR
Foreign Exchange Fee	2%	0%	1.5%
Asset Management	Custodial	Non-Custodial	Custodial
Availability for Ukraine
Supported Cryptocurrencies	86	2	7
Apple Pay	Enabled	Not Enabled	Enabled
Customer Service	Great	Great	Great
Brand Authority	Well-Known	Growing	Well-Known

 

If you plan to use your card for daily purchases, then daily spending limit is an important consideration for you. Ledger CL Card offers the highest daily spending limit of 15,000 EUR. You will get lower daily limits with Nexo Card and Gnosis Card.

Cashback rewards are a great way to earn back some of the money you spend on your card and is an important consideration as well. Out of the three, Gnosis Card offers the best cashback rewards of up to 5%. The cashback rewards for Nexo Card and Ledger CL Card are not as high.

To make a good choice, look through all features, as it is an individual choice. If you will mostly do online transactions with this card, then Apple Pay availability may not be a very important feature for you. If you travel a lot, foreign exchange rate will matter. And so on.

• Nexo Card Website
• Gnosis Card Website
• Ledger CL Card Website

Local ATM Withdrawals in EUR

Here's a breakdown of the fees you'll face when making local ATM withdrawals with your Nexo Card:

Starting with an initial amount of 200 EUR in ETH, the ATM withdrawal with Nexo Card will cost you a total of ~8.47 EUR (4.2% of 200 EUR), resulting in a final cash withdrawal of 191.53 EUR in hand.

Doesn't Nexo Card Offer Free ATM Withdrawals?

Yes, Nexo offers free ATM withdrawals for up to 2000 EUR per month (which is substantially higher comparing to the average of 200 EUR free withdrawal limit offered by other cards).

When they say 'free', they are only referring to their ATM Withdrawal Fee, which will be waived for the first 2000 EUR withdrawn per month. In our example, if you withdraw 200 EUR, this waiver saves you 3.97 EUR, reducing your local ATM withdrawal cost to around 4.5 EUR, compared to the standard cost of approximately 8.47 EUR.

International non-EUR ATM Withdrawals

Things will get significantly worse for International ATM Withdrawals. If you're out of country and cashing out with your Nexo Card, here's what it will look like:

For an international withdrawal using your Nexo Card with an initial 200 EUR in ETH, you'll incur fees totaling ~18.4 EUR (9.2% of 200 EUR), leaving you with 181.6 EUR in the equivalent foreign currency.

Reality CheckOverall, Nexo Card is slightly cheaper than other cards for local ATM withdrawals and equivalent to the average for international ATM withdrawals:

From all crypto cards that we reviewed, Trade Republic Card, Holyheld Card and Bit2Me Card offer the cheapest local ATM withdrawals (2.2%, 2.5% and 2.7% of 200 EUR respectively), while OWNR Card scores the worst, landing last on the list with a total local ATM withdrawal cost of 9% of 200 EUR.

We asked Nexo's customer support different questions, and then rated their responses to evaluate how good their support is.

Why should you Care:When you'll have a money-related question, like a missing deposit or being overcharged - having good support at that moment will be crucial for you.

Nexo offers support via the following channels:

Location: Nexo customer service reps are located in Bulgaria.^¹

To summarize,

Competence and Problem-Solving: Nexo's customer service agents are highly competent, so you can expect every issue to be resolved with professional expertise and a thorough understanding.

Customer Love: Their responses will be personalized when they need to look up specific information from your account, although they may not always address you by name.

Reply Speed: Response times are inconsistent, ranging from as quick as 1 minute to as slow as 5 days.

Overall Customer Service Rating: 8.6/10

This excellent score places Nexo's Customer Service well above the crypto card industry average of 7.2/10.