Nexo Card Review

Nexo Card Review: Spend Your Crypto Without Selling It

The Nexo Card is a Visa card that allows you to spend against your crypto holdings as collateral — rather than selling your crypto to fund purchases. This makes it a unique financial product for crypto holders who want liquidity without triggering taxable events.

How It Works

Instead of selling crypto to fund card spending, the Nexo Card works as a crypto credit line:

1. Deposit crypto into Nexo (BTC, ETH, and 50+ other assets)
2. Nexo extends a credit line based on the value of your crypto (LTV up to 90%)
3. You spend on the Nexo Visa Card
4. Repay your credit line (or let crypto appreciation cover the balance)

This approach means you retain your crypto exposure while accessing its value.

Key Details

• Available in 36+ countries (primarily Europe)
• Virtual card: instant, available in the Nexo app
• Physical card: Mastercard in some regions
• NEXO token cashback: 2% in NEXO tokens (Platinum tier), 0.5% in Bitcoin
• No annual fee
• No foreign transaction fees

Tier Benefits

Considerations

• Interest on balance: If you carry a balance on the card, you pay interest (variable based on LTV and tier, from 0% for NEXO Platinum holders)
• Margin call risk: If crypto collateral value drops significantly, Nexo may liquidate assets to cover the loan
• Counterparty risk: Crypto is held by Nexo — same risks as any centralised platform

Verdict

The Nexo Card is an innovative solution for crypto holders who want to spend without selling. The no-sell approach preserves crypto exposure and defers potential capital gains tax events. The margin call risk and interest on balances need to be managed carefully.

• Spend without selling crypto
• 2% NEXO cashback (Platinum)
• No foreign transaction fees

• Interest applies on carried balances
• Margin call risk if collateral drops
• NEXO platform counterparty risk
• Not available in US