Nexo Card
Issued by Nexo on the Mastercard network
- KYC required
- 2% cashback
- Custodial
- Virtual
- Physical
A dual-mode card that lets you switch between Credit Mode — borrowing against your crypto without selling it — and Debit Mode for spending directly, plus yield on idle balances. EEA and UK residents only.
Verdict
A dual-mode card that's unusual in letting you flip between spending crypto directly (Debit Mode) and borrowing against it without selling (Credit Mode) in a single tap. Cashback of up to 2% only applies in Credit Mode and only above a $5,000 balance, split across four Loyalty Tiers, with the top Platinum tier also unlocking €2,000/£1,800 in free monthly ATM withdrawals. The tradeoff is geography: Nexo restricts the card to EEA and UK residents only — the mirror image of Bybit's EEA exclusion.
- Best for: EEA and UK residents with a $5,000+ crypto balance who want to borrow against holdings rather than sell them
- Less suited to: Anyone outside the EEA/UK, or anyone wanting cashback without a five-figure-adjacent balance
At a glance
- Dual-mode: Debit Mode spends crypto directly, Credit Mode borrows against it without selling
- Up to 2% cashback in Credit Mode, but only above a $5,000 account balance
- Four Loyalty Tiers (Base, Silver, Gold, Platinum) set both the cashback rate and free ATM allowance
- Up to 13%/year interest on the unspent balance, paid daily
- No monthly, annual or inactivity card fees
Who can get it
Nexo restricts the card to citizens and residents of the EEA and the UK, verified with an ID issued in one of those regions. This is the opposite geographic restriction from Bybit, which explicitly excludes the EEA — a reader excluded from one may well be covered by the other.
How it works
- Open a Nexo account and complete identity verification with an eligible EEA/UK ID.
- Fund your account; the virtual card activates once your balance reaches $50.
- Choose Debit Mode to spend crypto directly, or Credit Mode to borrow against it — switch between the two at any time.
Strengths and trade-offs
Strengths
- Genuinely unusual Credit Mode: spend without selling your crypto, no credit check or fixed repayment schedule
- Daily-compounding interest on the unspent balance, up to 13%/year
- No monthly, annual or inactivity fees at any tier
- Virtual card usable almost immediately with just $50 funded
- Weekday FX fees as low as 0.2% for EEA/UK/CH transactions
Trade-offs
- Restricted to EEA and UK residents only — most of the world can't get it
- Cashback needs a $5,000+ balance and Credit Mode; Debit Mode alone earns nothing
- Physical card needs both a $5,000+ balance and at least Gold tier
- Weekend FX fees rise to 0.7% (EEA/UK/CH) or 2.5% (rest of world)
- Custodial — Nexo holds the assets backing both modes
| Issuer | Nexo |
|---|---|
| Card network | Mastercard |
| Card type | Virtual, Physical |
| KYC requirement | EEA/UK identity verification required; not available outside the EEA and UK |
| Cashback | Up to 2% in NEXO tokens (Credit Mode only, $5,000+ balance) |
| Annual fee | Free |
| Custody model | Custodial |
| Supported assets | BTC, ETH, USDT, USDC |
Every figure above was checked against Nexo's own card page on 2026-08-15. Terms, fees and rewards change frequently — confirm current details directly with the issuer before applying. We publish no star ratings of our own and take no payment for placement. This is not financial advice.
Common questions about the Nexo Card
What's the difference between Nexo Card's Debit and Credit Mode?
Debit Mode spends your crypto directly, converting it at the point of sale. Credit Mode borrows against your crypto as collateral instead of selling it, and is the only mode that earns cashback. You can switch between the two at any time in the app.
Who can get the Nexo Card?
Only citizens and residents of the European Economic Area and the United Kingdom, verified with an ID issued in an eligible country. It is not available elsewhere.
How much do I need to earn cashback?
Your account balance needs to be above $5,000 in digital assets, and you need to be spending in Credit Mode. Below that, the card earns no cashback regardless of mode.
Are there foreign transaction fees?
Yes, and they vary by day: 0.2% on weekdays for EEA/UK/Switzerland transactions (2% for the rest of world), rising to 0.7% and 2.5% respectively on weekends.
How many free ATM withdrawals do I get?
It depends on your Loyalty Tier: Base gets €200/£180 free per month, Silver €400/£360, Gold €1,000/£900, and Platinum €2,000/£1,800. Withdrawals beyond that free allowance cost 2%, minimum 1.99 EUR/GBP.