The Nexo Card is a Mastercard issued by Nexo, one of Europe's largest crypto lending platforms. Unlike most crypto cards that liquidate your holdings to fund spending, the Nexo Card uses your crypto as collateral for a credit line — meaning you spend without selling your assets, continue earning yield, and repay the balance over time.
Overview
Nexo was founded in 2018 in Switzerland and is regulated across multiple jurisdictions. The company specializes in crypto-backed lending — allowing users to borrow fiat against their crypto holdings without selling. The Nexo Card extends this model to everyday spending: your BTC, ETH, or other assets back a credit line, and you spend from that line rather than liquidating your crypto.
This structure has a key tax advantage in many jurisdictions: spending on the card is a loan drawdown, not a crypto sale, so it may not trigger a capital gains event (consult a tax advisor for your specific situation).
Key Features
Spend Without Selling
The Nexo Card's defining feature is that it doesn't liquidate your crypto. Your portfolio remains intact and continues earning yield in Nexo Earn while your card credit line covers purchases. Interest accrues on the outstanding balance (similar to a traditional credit card), but the rate is typically lower than selling and re-buying at a future price if you're long-term bullish on your holdings.
Up to 2% Cashback in BTC or NEXO
Every card purchase earns cashback paid in either BTC or NEXO (Nexo's native token), at the user's choice. Base cashback is 0.5% in BTC, rising to 2% in NEXO for Platinum-tier members. The BTC cashback option is unusual and appealing — most crypto cards pay cashback in their own token.
Nexo Loyalty Tiers
Nexo uses a four-tier loyalty system (Base, Silver, Gold, Platinum) based on the percentage of the user's portfolio held in NEXO tokens. Higher tiers unlock better cashback rates, higher credit limits, lower interest on loans, and higher yield on Nexo Earn products.
No Monthly Fees
The Nexo Card has no monthly fee, no card issuance fee, and no FX conversion fee. Interest is only charged on the outstanding credit balance — if the balance is repaid within the billing cycle, the card is effectively free.
Supported Collateral
The following assets can be used as collateral to back the card's credit line: BTC, ETH, XRP, LTC, BNB, SOL, ADA, NEXO, USDT, USDC, and more. Each asset has a different Loan-to-Value (LTV) ratio — typically 15–80% depending on volatility. Stablecoins naturally have the highest LTV.
Loyalty Tier Benefits
| Tier | NEXO% in Portfolio | BTC Cashback | NEXO Cashback |
|---|---|---|---|
| Base | 0–1% | 0.5% | 0.5% |
| Silver | 1–5% | 0.5% | 1% |
| Gold | 5–10% | 1% | 1.5% |
| Platinum | 10%+ | 1% | 2% |
Pros & Cons
Pros
- Spend without selling crypto — keep your positions intact
- Potential tax efficiency (spending is a loan, not a sale)
- BTC cashback option — rare among crypto cards
- No monthly fee, no FX fee
- Portfolio continues earning yield while backing the card
- Regulated, established platform (founded 2018)
Cons
- Interest accrues on unpaid balance — must manage repayments
- Best rates require holding NEXO tokens (concentration risk)
- If crypto collateral drops in value, margin calls are possible
- Not available to US residents
Summary
The Nexo Card is fundamentally different from other crypto cards because it's credit-based, not debit-based. For long-term crypto holders who don't want to sell their positions, it's a compelling way to unlock the purchasing power of a portfolio without triggering a sale. The BTC cashback option is unique and appealing for Bitcoin maximalists.
The key risk is the same as any collateralized loan: if markets drop sharply, collateral requirements tighten. Used responsibly, the Nexo Card is one of the most financially sophisticated crypto card products available.