In this article:

1. Nexo Card features and benefits

2. Credit Mode

3. Debit Mode

4. Important notes

1. Nexo Card features and benefits

The Nexo Card is the first-ever dual-mode card that allows you to switch between Debit Mode and Credit Mode purchases to suit your needs.

The card is available in two formats: virtual and physical. If you meet the eligibility requirements, you can activate your virtual card right away and order a physical card for added convenience – both at no additional cost.

And there are even more crypto card benefits for you to enjoy:

• Make purchases at 100M+ merchants worldwide.

• Enjoy unparalleled flexibility and cost-effectiveness:

  • No minimum monthly repayments for purchases in Credit Mode

  • No monthly, annual, or inactivity fees

  • Up to €10,000 / £9,000 in monthly ATM withdrawals

  • Up to €60,000 / £54,000 in monthly purchases

  • Up to €2,000 / £1,800 per month in free ATM withdrawals, depending on your Loyalty Tier

• Manage your card using the following features:

  • Re-issue your virtual card free of charge as often as needed

  • Freeze and unfreeze your card from the Nexo app with a single tap

  • Monitor all your transactions in real time and in full detail

  • View your PIN and change it anytime

  • Set custom spending limits and control allowed transaction types with Spending Controls

• Receive between 0.5% and 2% crypto cashback in Credit Mode, depending on your Loyalty Tier.

• Link your Nexo Card to Apple Pay, Google Pay, or another digital wallet to effortlessly make your desired purchases from the comfort of your mobile phone. That way, you can also make ATM withdrawals, provided the machine supports contactless operations.

2. Credit Mode

In Credit Mode, the Nexo Card functions as a natural extension of Nexo’s Crypto Credit Lines, allowing you to make everyday purchases on the go without selling your crypto.

Credit Mode purchases are covered by your Available to Borrow balance, which is backed by your crypto assets. In other words, you spend borrowed funds, while your crypto is used as collateral for the loan (instead of being sold).

The borrowing rate depends on your Loyalty Tier. Gold and Platinum Loyalty Tier clients can also benefit from our Low-Cost Credit Lines with borrowing rates of 5.9% p.a. (Gold) and 2.9% p.a. (Platinum) for loans with a Credit Line Wallet LTV ratio below 20%. To enable this feature, follow the steps in this article.

To find out more about the Credit Mode, please visit How does the Nexo Card work in Credit Mode.

3. Debit Mode

Now that Nexo has explored how the Nexo Card works when connected to your Credit Line, let’s take a look at the Debit Mode functionality.

Unlike the Credit Mode, where your purchases are funded via crypto-backed loans, in Debit Mode, you spend the assets stored in your Savings Wallet (Flexible Savings):

• FIATx assets (EURx, GBPx, and USDx)

• Stablecoins

• Cryptocurrencies

These assets continue to earn between 0% and 14% interest per year, depending on your Loyalty Tier, until they are spent on a purchase. You can customize the spending order and decide which assets you want to spend.

Find out more about the Debit Mode feature in How does the Nexo Card work in Debit Mode.

4. Important notes

• The Nexo Card is available only to personal (individual) account holders. Corporate (business) account holders cannot order Nexo Cards.

• Each eligible client can hold only one active physical Nexo Card and one active virtual Nexo Card at any given time.

• Switching to Debit Mode requires that you have some FIATx, crypto, or stablecoins in your Flexible Savings balance. Switching to Credit Mode requires that you have some crypto/stablecoins in your Flexible Savings balance or in your Credit Line Wallet.

• The interest applied to loans is compound, meaning that it is calculated on both the initial principal and the accrued interest.