CoinsOnCards

    Issued by DiPocket UAB — Authorized Electronic Money Institution (EMI) regulated by the Bank of Lithuania

    Nexo CardReview

    Hybrid custodial Mastercard offering credit against crypto collateral or direct debit spending.

    2.5· Updated: Physical card ordering paused since January 17, 2025
    Visit issuer
    Cashback
    Up to 200.0%
    Custody
    custodial
    KYC
    full
    Networks
    —
    Monthly fee
    Free
    Available in
    —

    The verdict

    Best for: Crypto HODLers with >$5,000 wanting liquidity without selling assets.

    Skip if: You have <$5,000 in assets or live in the US/UK.

    • Earn up to 2% cashback, but only in Credit Mode with >$5,000.
    • Borrow at 2.9% APR, but requires Platinum tier and ≤20% LTV.
    • No monthly fees, but FX fees up to 2.5% apply.
    Get the Nexo Card

    How it works

    • - **Dual Functionality:** Operates as both a credit card (using crypto as collateral) and a debit card (direct spending from balances).
    • - **Mobile Wallet Support:** Integrated with Apple Pay and Google Pay for contactless payments.
    • - **Merchant Acceptance:** Accepted at over 100 million Mastercard merchants worldwide.
    • - **ATM Withdrawals:** Free withdrawals up to €2,000/£1,800 per month, depending on loyalty tier.
    • - **Asset Management:** Users can set a customizable spending priority for different assets via the Nexo app.
    • - **In-App Controls:** Freeze/unfreeze the card, manage PIN, and view transactions in real-time.

    Funding: Crypto transfer · Fiat transfer · Bank transfer

    Rewards calculator

    Estimated cashback
    $10
    Effective rate 0.50%
    • $0–∞ @ 0.50% → $10 on $2,000

    Fees

    BankingIBAN: true · Personal IBAN accounts support top-ups in USD, EUR, or GBP

    Borrowing terms

    Interest: Base: 18.9% APR (High LTV), 15.9% APR (Low LTV ≤20%); Silver: 17.9%/14.9%; Gold: 13.9%/5.9%; Platinum: 10.9%/2.9%

    Instant crypto-backed credit line in Credit Mode - no repayment schedule required

    Rates were updated in May 2024 when Nexo increased minimum borrowing rate from 0% to 2.9% for Platinum users with low LTV. Balance recommendation introduced February 2025 for optimal terms.

    Custody & risk

    • If the issuer disappears
      If Nexo ceases operations, users risk losing access to their funds. The platform is centralized, introducing counterparty risk.
    • Counterparty risk
      Centralized platform risk - users must keep funds on Nexo platform without control of private keys
    • Regulatory risk
      Bulgarian authorities investigation for alleged money laundering and financial crimes, with prosecutors claiming the company violated sanctions against Russia
    • Regulatory risk
      Forced exit from U.S. market after regulatory challenges, requiring U.S. clients to withdraw funds

    Nexo holds all user crypto assets on its platform. Users do not control their own private keys. Assets are held with third-party custodians like Ledger Vault and Fireblocks using multi-signature wallets and cold storage solutions.

    Protections

    • Real-time notifications for every transaction
    • Freeze/unfreeze card instantly through app
    • PIN code changes via app
    • Multi-factor authentication (SMS, email, authenticator app)
    • Anti-phishing code feature for email verification
    • 256-bit SSL encryption
    • Address whitelisting for crypto withdrawals
    • Biometric login support (fingerprint/FaceID)

    Insurance & coverage: Client assets insured 'by millions' in coverage through custody providers. Previously announced $375M insurance via Lloyd's-backed custodians.

    Custody partners: Ledger Vault, Fireblocks

    Limits

    notes
    Nexo Private (Platinum tier) unlocks higher spending limits and custom terms
    atm daily
    €2,000 (€600 per withdrawal)
    atm monthly
    €10,000
    daily spending
    €10,000
    credit line max
    Up to 90% of crypto value (requires minimum 10% collateral buffer)
    per transaction
    €10,000
    monthly spending
    €60,000

    The good

    • No monthly fees; FX fees as low as 0.2%.
    • Up to 2% cashback for Platinum tier users.
    • Earn up to 14% annual interest on unspent balances.
    • Supports Apple Pay and Google Pay for contactless payments.
    • Accepted at 100M+ Mastercard-network merchants.

    The catches

    • $5,000 minimum portfolio for cashback and full benefits.
    • Physical card ordering paused since January 17, 2025.

    Limitations

    • majorCurrently limited to European Economic Area and United Kingdom (global expansion underway)
    • majorUK users cannot receive cashback due to regulatory restrictions
    • majorRequires keeping funds on centralized platform (counterparty risk)
    • moderatePhysical card ordering temporarily paused since January 17, 2025 (virtual cards still available)
    • moderateCashback requires $5,000+ account balance and is only available in Credit Mode
    • moderateCredit mode interest rates can be high for lower tiers (up to 18.9% APR)
    • moderatePhysical card requires Gold loyalty tier and minimum $5,000 portfolio
    • minorSome merchants decline Nexo Card transactions (e.g., certain retailers in Netherlands)

    Where rewards don't apply

    • Government services — Ineligible for cashback
    • Postal services — Ineligible for cashback

    What users say

    Google Play
    4.1/5.0 (46,677 ratings)
    Trustpilot
    4.5/5.0 (16,181 ratings)

    Generally positive sentiment, especially among active Nexo ecosystem users. '99% of transactions' reportedly go through without issues. Appreciation for instant cashback and convenience of spending crypto.

    Rating breakdown

    Net reward
    2.8
    Custody risk
    2.0
    Availability
    1.5
    User experience
    4.2
    Features & convenience
    3.2

    See our methodology for how we score each axis.