Paying without spending
Spending your cryptos when the bitcoin price is rising deprives you of a nice capital gain. Rest assured, we’re not going to advise you to deprive yourself of what you want. The solution is simpler, and it’s called Nexo.
TL;DR
- Nexo is a lending platform. Cryptocurrency borrowers and lenders are connected for easy access to borrowing.
- Crypto credit card that allows spending euros advanced by Nexo in exchange for locking crypto assets. APR starting at 0%.
- Up to 2% cashback on all online and in-store purchases (depending on loyalty level achieved).
- Alternative to Crypto.com, Bitpanda, and Binance.
Nexo Review: 4.8/5
This review about Nexo reflects our experience and tests. It is limited to this section for general information purposes only and does not constitute financial advice. The rest of this page is informative and objective (except Customers Reviews about Nexo at the bottom of the page).
Nexo Review
Our overall review of the Nexo card is very positive. Nexo is a very popular crypto card in Europe. It is the only card to offer crypto revolving credit which allows you to take advantage of cryptocurrency valuations without using them.
Benefits
- Up to 2% cashback
- Credit card for spending money without using cryptos
- 0% credit rate if LTV less than 20%.
Disadvantages
- TEAG up to 13.9% on overruns
- Charges on credit card top-ups
How Nexo Works
Lending Platform
Nexo is a lending platform. This means it allows cryptocurrency holders to lend a portion of their crypto assets in exchange for daily interest payments.
Bank Card
The Nexo bank card is a payment method linked to the cryptocurrency wallet of Nexo platform users. Each user can immediately enjoy a virtual card and may order a physical card if desired. Both virtual and physical cards are compatible with Apple Pay and Google Pay.
Credit
This bank card functions like a credit card as it is backed by an optional credit line. This can be activated by locking a defined amount of bitcoins or other cryptocurrencies as collateral. This allows you to spend money without consuming your capital, letting it appreciate in value. The authorized credit amount is up to 90% of the value of the reserved cryptocurrency. Unlike a real credit card, the APR of the Nexo card starts at 0% and never exceeds 13.9%. Thus, it is less costly in some aspects than the Zero card or a Cetelem credit, whose APR can go up to 30%. Initially, Nexo unlocks an LTV below 20% so users can enjoy the 0% rate. Nexo does not impose a time limit for repaying the opened credit. Full or partial repayment can be made at any time by pressing the “Repay” button.
Cashback
The Nexo card also offers rewards on payments and withdrawals in the form of cashback. This cashback (partial refund of the transaction amount) is, by choice, 0.5% in BTC or 2% in NEXO.
Loyalty Program
Like crypto.com, Nexo is free and offers benefits to users who accumulate (stake) the NEXO token. To access higher levels, the share of NEXO in the total assets (crypto, fiat, credit, and capital) must increase.
| NEXO Share in Portfolio | Level |
|---|---|
| 0% | Basic |
| 1% or more | Silver |
| 5% or more | Gold |
| 10% or more | Platinum |
Nexo Insurance and Assistance
No specific insurance is included with the Nexo card, except for Standard Mastercard insurance.
The Nexo account includes a virtual bank card in addition to the physical card for making payments online and with Apple Pay.
Pricing
Nexo Card Limits
Depending on your loyalty level, you can benefit from up to 10 free withdrawals as well as the removal of exchange fees:
| Basic | Silver | Gold | Platinum | |
|---|---|---|---|---|
| Free monthly withdrawal limit | 1 | 3 | 5 | 10 |
| Monthly payment limit | €60,000 | €60,000 | €60,000 | €60,000 |
| Daily payment limit | €10,000 | €10,000 | €10,000 | €10,000 |
| Monthly withdrawal limit | €10,000 | €10,000 | €10,000 | €10,000 |
| Daily withdrawal limit | €2,000 | €2,000 | €2,000 | €2,000 |
| Monthly fee-free foreign currency payment limit | €3,000 | €5,000 | €10,000 | €20,000 |
Special Transaction Fees
| Basic | |
|---|---|
| Additional ATM withdrawal (beyond the limit) | €1.99 |
| Foreign currency transaction (beyond the limit) | 0.5% |
| Account top-up by credit card | 1.49% |
Nexo Portfolio Overview.
Opening a Nexo Account
All European Economic Area (EEA) citizens over 18 years old can order a Nexo card. To be eligible, you must verify your identity and meet the following criteria:
- For a virtual card: maintain a wallet balance of at least $50.
- For a physical card: maintain a wallet balance of at least $500 and a Gold or Platinum loyalty level.
Frequently Asked Questions
To view your card number, expiration date, and CVC, go to the Card section and tap on “Card Details.” You can also lock or unlock your card, reveal or change its PIN, view your transaction history, track your monthly transaction limits, and change the crypto for cashback (BTC or NEXO).
The physical bank card is optional. It can be requested from the mobile app at any time. It is usually received about 2 weeks after the request. However, a virtual card is created upon account opening to enable any Internet or Apple Pay and Google Pay purchase.
The Nexo card is an instant cryptocurrency credit solution. With the Nexo credit card, users can make daily purchases without using their cryptocurrencies. In other words, Nexo lends euros to its users, which they can spend freely in exchange for locking cryptocurrencies as collateral for repayment. This process occurs in the background whenever the credit card is used to make a purchase. Loan rates start at 0% APR and never exceed 13.9% APR. Users can activate the “0% APR Purchase” option in the “Card Settings” menu under the “Card” tab. Once this option is activated, Nexo transfers just enough collateral to maintain the LTV below 20% so the user can benefit from the dynamic 0% interest rate (provided they have sufficient assets in their account). The card’s cashback is automatic and instant on every purchase or ATM withdrawal. It is credited either in bitcoin (up to 0.5%) or NEXO tokens (up to 2%). Users can change the reward currency at any time as often as they like.
Cashback is a partial refund of purchases made with the Nexo card. It is guaranteed on all expenses whether made in-store or online. The cashback is credited either in bitcoin or NEXO, and its amount varies depending on the user’s level. For a limited time, all users, regardless of their level, can enjoy maximum cashback rates: 2% in NEXO tokens or 0.5% in BTC. Once this period ends, the usual reward rates apply:
| Level | Cashback in NEXO | Cashback in BTC |
|---|---|---|
| Basic | 0.5% | 0.1% |
| Silver | 0.7% | 0.2% |
| Gold | 1% | 0.3% |
| Platinum | 2% | 0.5% |
You can activate your virtual Nexo card immediately and order a physical card that will arrive in due time. Virtual bank card activation is almost instantaneous:
Open the Nexo app and tap on the “Card” section.
Press the “Activate Nexo Card” button to generate your virtual card.
Add the card to Apple Pay or Google Pay.
You are ready to make your first purchase.
If you wish, you can also order a physical bank card:
Open the Nexo app and go to the “Card” tab.
Swipe left and tap the “Order Nexo Card” button.
Follow the on-screen instructions and wait up to two weeks to receive your card.
Once you receive your card, activate it by opening the Nexo app, entering your 16-digit card number, and selecting a PIN.
Whether you decide to spend using the virtual card or the physical card, remember that you will earn cryptocurrency rewards on every purchase you make. Moreover, both cards have no monthly, annual, or inactivity fees. Once connected to Apple Pay or Google Pay, the virtual card functions like the physical card – you can even make contactless withdrawals at most ATMs. The added advantage of the virtual card is that you cannot lose it or have it stolen from your pocket or purse.
- Up to 2% cashback
Credit card to spend money without using cryptos
0% credit rate if LTV below 20%
Daily interest payments for placements
Quick capitalization thanks to compound interest effect
High interest by locking capital in cryptos
No minimum monthly repayment if a credit line is open
No monthly, annual, or inactivity fees
No exchange fees up to €20,000 per month
Up to €10,000 in monthly ATM withdrawals
Up to 10 free withdrawals per month
Free additional virtual cards
Avoid withdrawing bitcoins and paying capital gains tax (flat tax)
- Customer support: support@nexo.io
- General information: info@nexo.io
- Find answers to common questions: support.nexo.io
Nexo applies the most rigorous KYC and AML procedures in terms of security. These guarantee flawless risk assessment, data protection and enhanced cyber security. The fintech also qualifies as an authorized virtual asset service provider due to its status as a regulated platform. All digital assets held in your Nexo account benefit from $775 million in insurance underwritten by industry-recognized custodians in the event of third-party hacking, theft or loss of private keys. The Nexo card also comes with a host of security features, including the ability to freeze your card in the event of loss, change your PIN code at any time, and track transactions via instant notifications.
- Click on convert
- Click on Recharge by credit card* or bank transfer
* Please note that charges apply for credit card top-ups.
Claudia –
My card was stolen while I was traveling and it was a very complicated to receive my physical card. After more than 3 months talking with the customer service, they finally found a solution and sent the card in priority shipping.This demonstrates that they are willing to go more and beyond to help their customers.Thanks for the help.
Ivan Cairoli –
Great experience so far! I have been using nexo for almost about a year, and I’ve had no problems so far. All deposits and withdrawals have been timely done, except maybe for the first one, that I guess they verify thoroughly.
M.A. –
The support was very good and helpful. As I am not very proficient in English, it would be very good if customers could write in their own language and have it automatically translated in support. I believe that this would achieve results even faster.
Michael Mekonnen Asres –
I recently started using Nexo and I’m impressed with their fast and efficient customer service. The support team is responsive and resolves issues promptly. The user interface is intuitive and user-friendly, making navigation a breeze. Although I haven’t completed any transactions yet, my initial experience has been positive. I’ll update my review once I conduct some transactions. So far, Nexo seems like a reliable platform.
MSO –
Nexo platform operates real crypto business earning real profit. Thus, We can simply buy and hold some Nexo tokens to join the opportunity.
Juan Carlos –
This is the best crypto exchange I have found. Things that I like: It offers a high return for FIATx (a kind of a stable coin for your EUR or USD). It also offers a very good return for stablecoins such as USDC or USDT, ad well as for crypto. You can activate a debit or credit card. Other neobank services are offered (derivates, loans, etc.). App is really smooth and well designed.
Andrew Palmer –
I like Nexo as they do follow up.The funds are protected and the service works excellent. They are a team of professionals as they have a great product and fantastic service
Christian Contursi –
Nexo is always a guarantee. I requested specific documents regarding the tax report to be done here in Italy and they moved super quickly to get them to me in the shortest time possible.Thanks to their customer service I have the ability to resolve anything almost instantly.Keep it up guys Greetings from Italy
Mike –
So far everything has been great with Nexo. I’ve never had problems using the card to pay for stuff, I’ve tried sending money out without any hiccups or delays. Even on the customer support side I had misunderstood the rewards from an event they were hosting and they were super helpful getting back to me. If they keep up being trustworthy I don’t see any reason to still have money in the bank
Anonym –
Nexo hast a limit on withdrawals. I can’t withdraw my bitcoin because nexo hast zeroed it for me and isn’t increasing it. They aren’t increasing it either, so they don’t have to pay out.
Dida Nuraida –
happy to be a nexo user,I’m very happy with Nexo, just by depositing the APY will automatically run, it’s very simple and profitable for users, especially beginners like me. But unfortunately I can’t use the Nexo virtual card due to state policy limitations, it doesn’t support my country.
Samuel Adamčík –
I am excited to have discovered Nexo. They have my trust more than the most well-known platforms. Everything is designed down to the smallest detail. The system they use for loans is excellent, and purchases and withdrawals are clear and easy to use. I believe that the team behind this project is doing it with heart, and I hope they maintain the quality they have now.
Carsten –
I needed technical help. Support requests were handled quickly an efficiently. Perfekt Service. Thanks NEXO Team.
Marko –
Great staff, takes time to get familiar with all functions, but after that, very good.Love the booster, an opportunity to boost earnings in bull market.Used the Nexo Card, simple to use and good cashback.Used the Futures, a little higher fee than I’d like, but Nexo Pro makes up for it.
Peter –
Surprizingly good, fast end effective customer service. Usually receive a response within a couple of minutes. Other companies make me wait for hours or days. Nexo! Hats off!
Mari Anneli Mikkonen –
I got my issue solved. And customer service was very helpful. Nexo answered my question very quickly as well. Thank you.
Nadia Ivanova –
I have a very good experience with Nexo, in the beginning when I start, decide to move some of my XRP token to the exchange from other exchange and I mistakenly write or miss one of the numbers on the Tag. Did not arrive immediately, but Nexo developers was so good to fix that for me and I receive my counts in few weeks. Thanks to the well-trained stuff.
Spiderman –
Very friendly and easy to use Nexo and when you have an issue question it is solved swiftly by Nexo help center.
Allan –
Nexo have been reliable as a service- and I want to thank their team with assistance on technical matters to make my experience a smooth one. I rarely give full marks but merited for their kind assistance.
João Roma –
Super reliable and secure with a fast and professional client support.I’ve been using Nexo for almost 4 years and I have nothing to complain about.Keep up the excellent work.
Benjamin –
Lost my xrp funds after transferring them to nexo account without the correct destination tag. I was frightened it would be a permanent loss but the Nexo team was able to retrieve the funds within a couple of weeks. Furtermore, Nexo is a platform I trust more and more. I’ve done deposits and withdrawels multiple times and without any efforts it worked all the time.
Hugo Pinheiro –
Well, i am not sure yet if i can trust on Nexo 100. I have read bad news about the exchange and watch some videos titled as “the fall of nexo” from Discover Crypto youtube channel, so i dont really know if i should get more money in, and maybe get most of my money out in the next weeks.
Sergio Peviani –
I would like to say a huge thank you to the customer support staff for the excellent assistance… due to a stupid mistake on my part… they followed me step by step and with great patience, solving my problem in record time.Thanks again to all of you
Egi –
My experience with Nexo’s customer service has been very impressive. Some time ago, I had an issue with withdrawing funds from Nexo to my local bank, causing the funds to be lost or not found. I reported this issue to Nexo, and they were incredibly helpful in tracking down the funds and providing the necessary data for the resolution process. After a long process, my funds were finally located and returned to my Nexo account. Throughout the process, Nexo was very cooperative, responsive, and extremely helpful. It’s truly wonderful service aimed at providing the best satisfaction for me as a customer. Thank you, Nexo.
Cezar Cursaru –
Nexo is a highly innovative new bank that I have simply become to love.I like Nexo’s loyalty system linked to the interest rates (fixed-term deposits and current account) and I simply love the Nexo versatile card (debit or credit) linked to fiat or crypto.
Jonathan Lentell –
When registering there was a delay in the on-screen process, due probably to the network I was using. Nexo Chat took over and confirmed within minutes via mail that I had been verified and accepted. Impressive.
Iain –
The Nexo app is very clear and easy to use and transfers between assets or to and from fiat bank account is instant with email confirmation. Interest rates are good and is credited daily.
Marco Zenone –
I’m using Nexo already for a few years, they do what they promise, and they give very good performance for my savings, investments and plastic and virtual card spending.
Ivan Rogic –
The experience is seamless. Physical card arrived in a week or so. Works fine on ATMs. Highly recommend!
Louis –
I’m a very satisfied costumer,Over the years I’ve had some interactions with costumer service.They responded very fast, are super friendly aswell as professional.The NEXO card works perfect.Transaction are fast, If you have doubts or problems the costumer service is happy to help you in any way possible.
FT –
I am impressed by the integrity demonstrated in handling a complex issue involving a technical glitch on the futures platform. They have taken full responsibility and resolved the matter in a most reasonable manner. Nexo appears to be a rare, trustworthy bastion of reliability in the crypto space.
David Vecchio –
I’ve had most of my savings invested in Nexo for many years and it has been one of my top performing investments. I’ve been using the platform to earn interest on my crypto savings, trade and placing my crypto as collateral for loans. Nexo has some of the best interest rates I’ve seen, and a solid native token that has always performed greatly even in the worst times of the crypto market.
Vicki Godfrey –
The service by Nexo regarding an issue I had with changing from an android to IPhone to access my account was a quick turn around, effective and easy to understand. As a result I did not go through usual IT fears of feeling unsure and confused. Highly recommend !!
Mariana Anchepe –
The freedom of exchanging into whatever currency or crypto currency I want makes Nexo the go to wallet for everyone.After having the worst experience with other companies because the punish customer for what they decide to do with their money, Nexo offered me all I need to use the money I earn in the best way I decide.Go with Nexo. You won’t regret it.
Marcus –
Apart from the company and the benefits it offers to us customers is invaluable anad a great way to make money since Nexo offers a variety of interest earning packages with guaranteed return’s! Also the company and its staff are really helpful Throughout the process if any help is needed! I truly reccomend Nexo make sure you dont miss out! 😉
Roland Kanalos –
Nexo has to be the worst cryptocurrency app. A few days ago, my phone got stolen. I contacted Nexo to change my Gmail. I also contacted Binance and my other apps because about $3920 USDT was withdrawn from my Coinbase. So I contacted Nexo to change my email.I sent them my ID, did the whole video verification stuff, waited for more than 24 hours, didn’t get a response from them. I contacted them again, and they told me that the ID I provided does not match the information on my account. Then I told them that the ID I used to register was not my Italian ID, but currently, I’m in Italy and I can’t provide the ID I used to register. And they have refused to let me into my account, refused to give me my money, they are trying to steal from me. These people are criminals, their customer service is rude, they end the chat on me I would also take this to youtube to let people know what they do This was the stupid case Id was giving #01652524
Frederik –
I have been using Nexo for several years now and my experience has been very positive. In my opinion, Nexo is one of the most reliable financial services providers in the crypto space. Both the website and mobile app are very easy to use. Taking out a loan with crypto assets as collateral is usually arranged in an hour. Savings, interest on assets, buying and selling, DCA, can all be arranged via the app. I can highly recommend Nexo.
Apostolos –
The great thing was the direct conduct from the stuff and the immediate act to solve the issue!!! Also the super kindness of the person who conducted me!!! Thank you very much for being there when it was needed!!
Marios –
I started using Nexo four months ago. I dont know a lot about Crypto and exchange systems. During these months I made a few wrong moves and needed emergency support. I am so happy about the service I received and I now feel a lot more confidence. Thank you
Chuck –
I’ve been using NEXO for a couple years an honestly I have had no real issues. Great interest on your crypto, I’ve reliably been able to move my crypto and the card actually works well.I’ve had to deal with support once and although i had to explain multiple times the issue support was patient enough to take the time to understand the issue. I’d definitely recommend!
Chris –
Nice features. Best returns on Fixed terms I found.Customer support has also been efficient so overall I only have positive things to say.Maybe spot trading would be good to add ? Thanks Keep it up !
Powell –
A quick resolution of a customer support request, where top-up wasn’t piped through correctly.
Please give me 100 dollar itunes Code –
Amazing support, amazing interest rates. Great for starting your crypto journey.
Maxim –
I created an account and passed verification, provided my passport and address. A minute later, I was successfully verified, but while living in Portugal (EU), the application writes to me that I cannot order a card to Portugal. I wrote about the situation in support – the answering machine answered with a template response. I wrote to support a week ago asking them to delete my ignore account. I also can’t delete my account myself, because the application says that my balance is not 0 euros, although it is 0 euros. A very bad app.
Mo K. –
Customer service team is great, I ran into issues with top-ups, and I needed help with verification, both times I received prompt response from the team, and the issues were resolved with ease.
Tomas –
Really appreciate this Nexo team support. I thought that I lost my money, because I used wrong network during the transaction. But the tech guys from Nexo saved them at the end. Respect to their work! Give them raise! Five of five🙌cheers
Fernando Rodriguez –
Nexo allows an easy way to invest and trade with crypto as well as earn interest on your idle crypto. Swap feature is practical and Cashback a plus. Fixed terms are reasonable in interest rates and locking periods.
Alex C –
I’ve been using NEXO for years and I’ve asked for several loans already. They are great professionals who have assist me swiftly and resolve any issue that I’ve encountered.
BOB COWELL –
I transferred a number of tokens from an outside wallet to Nexo using the wrong network resulting in permanent loss of the tokens. Nexo recovered the tokens for me. Thank you Nexo
harold edward –
Nexo is a great crypto access enterprise. They have been around for years and have proved that they are a client oriented company with profound service awareness and with a long term view of the business. When I have had troubles with the platform their response time has always surpassed my expectations. I feel assured working with them. They are a great partner in the crypto journey.