Nexo Card Review: Rewards on card usage, ARP and more

Nexo Card Review: What is Nexo Card?

The Nexo Card is a logical extension of Instant Crypto Credit Lines, allowing to make ordinary purchases on the road without selling your valuable cryptocurrency.

Nexo offers you money to spend and you supply crypto as repayment security – all of this happens in the background every time you use your card to make a transaction. You may use your card to buy anything you want, just like any other foreign card, but at a higher rate.

Nexo Card Review: Rates & Earnings

  • Rates begin at 0% APR1 and never go over 13.9% APR.
  • The “Purchase with 0% APR” option may be enabled from the Card Settings menu inside the Card tab. Once selected, we’ll send just enough collateral to maintain your LTV under 20%, allowing you to take advantage of our 0% Dynamic Interest if you have enough assets in your account.
  • As soon as you have your Nexo Card, you will begin earning immediate crypto rewards on every transaction, which will be paid out in Bitcoin (up to 0.5% back) or NEXO Tokens (up to 2% back) – with the option to change your reward currency at any time, as frequently as you like.
nexo card

Nexo Card Review: Benefits of Nexo Card

  • Accepted by over 90 million businesses globally
  • There are no minimum monthly payments.
  • There are no monthly, yearly, or inactivity fees.
  • There are no foreign exchange fees for transactions up to €20,000 per month.
  • ATM withdrawals of up to €10,000 per month are permitted.
  • Up to ten free ATM withdrawals per month are permitted.
  • Free extra virtual cards
  • With a simple swipe, you may freeze and unfreeze your Nexo Card from our mobile app.
  • All of your transactions will be tracked in real time and in great detail.
  • View your PIN and, if necessary, update it at any moment.

Nexo Card Review: Who can order the Nexo Card?

For the time being, the Nexo Card is only available to European Economic Area (EEA) citizens and residents. You must pass Identity Verification with a supported EEA-issued identity document and fulfil the following conditions to be eligible.

  • Maintain a Portfolio Balance of at least $50 for a virtual card.
  • Maintain a Portfolio Balance of at least $500 and a gold Loyalty tier for a real card.

How does the Nexo Card work?

Nexo Card is a credit card that is linked to Nexo’s Instant Crypto Credit Lines. All purchases are automatically withdrawn from your Available Credit, with your digital assets serving as security for the loan. The interest rate on the loan is determined by your Loyalty tier, and you can make repayments at any time, with no predetermined instalments necessary

How to make repayments on my Nexo Card?

Every purchase you make contributes to your outstanding loan balance. As a result, you must make a repayment as normal by selecting the “Repay” option on the Account page or the Dashboard inside the Nexo app and selecting your preferred repayment method. You may also go to the Card part of the Nexo app and begin a payback from there

Also Read: Where to buy DENT crypto