At last it’s here – the launch of the Nexo crypto credit/debit card has been anticipated for a long time and now at last it has arrived. European customers of the Nexo app and platform can now apply to get the crypto card as soon as possible.
The card has some unique features – you don’t have to spend any of the crypto that you are hodling with Nexo. Instead, when you pay with your card you are simply borrowing against the crypto balance that you are holding in your account and you can pay back the balance owing at your leasure.
The Nexo credit card has other unique benefits as well like earning an extra 2% cashback on all purchases while you shop, no minimum monthly repayment restrictions, instant access to borrowing rates and credit lines, up to 10 free monthly ATM withdrawals and no FX charges for up to 20,000 Euro every month.
Nexo recently made a big announcement, releasing the European Economic Area’s first crypto-powered credit card. Named the Nexo Card, the credit card promotes holding crypto assets rather than selling them.
Nexo released the credit card thanks to its partnership with DiPocket and MasterCard. The venture has tied the credit card to its Instant Crypto Credit Line, simplifying its daily use-cases. Opting for the card opens customers to perks, like:
- Up to an extra 2% in crypto rewards on every transaction paid in NEXO or BTC
- Instant access to borrowing rates and credit lines
- No activity, monthly, or annual fees
- No minimum monthly repayment restrictions
- A free virtual card for instant use
- Up to 10 free monthly ATM withdrawals
- No FX charges for up to 20,000 Euro every month
Nexo’s official post also specified the steps needed to order a Nexo Card.
- Firstly, users need to press the Activate Nexo Card option to issue the virtual card.
- Afterward, they can choose the Add to Wallet option to integrate the card into Google Play or Apple Pay.
- Now, the user can shop with the card while earning an extra 2% cashback on all purchases.
As Nexo has released the card based on its Loyalty Program, the rewards vary based on the user’s tier. Here is a breakdown of the rewards:
- Platinum: 0.5% in BTC 2% in NEXO
- Gold: 0.3% in BTC or 1% in NEXO
- Silver: 0.2% in BTC or 0.7% in NEXO
- Base: 0.1% in BTC or 0.5% in NEXO