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Quick Verdict
Nexo Cards can be used by those who prefer to receive crypto cashback and have the choice to spend their money without the need to sell their crypto. Its debit and credit card mode also allows it to be more flexible compared to most competitors. Nonetheless, it is not the best when you are within a non-supplied area or when you would like to have a basic traditional credit card arrangement. Credit Mode enables credit-backed borrowing and is therefore most optimal among those users who are aware of platform risk and credit behavior. All in all, it is a powerful crypto rewards card – particularly to active Nexo users.
The Nexo Card is currently one of the most appealing on the market, especially among users who already save their assets with Nexo. With crypto offers, fee transparency, and no annual fee, the Nexo Card becomes one of the most competitive crypto cards in Europe and the United Kingdom.
Ratings
Coingape’s Review on Nexo Card
In this review, we tried out the Nexo Card experience via the Nexo app and product flow. Checking card availability prompts, onboarding steps, KYC requirements, and how Nexo displays card terms and fees on its user interface.
We also checked the published card costs (annual fee, foreign exchange fees, ATM withdrawal limits) on the official platform documentation and fee pages. We also matched Nexo’s positioning with third-party reviews that had been implemented to ensure that the reward structure and practical constraints corresponded to real-life user expectations.
- Dual-Mode Spending
- No Recurring Fees
- Cashback in Crypto
- Eligibility of the card depends on the region
- FX Charges Can Eat Into Rewards
Security, Regulation & Trust Signals
From a safety perspective, the Nexo Card is as secure as the platform it sits on, which is a key point. This isn’t a self-custody card. Your spending account and assets remain within Nexo.
Key trust signals
Custody model
The Nexo Card follows a custodial setup, meaning the crypto you use for spending and rewards is held on the Nexo platform rather than in a self-custody wallet you fully control.
Regulatory Compliance
The American Institute of Certified Public Accountants (AICPA) is auditing Nexo. It holds licenses from the Department of Financial Protection and Innovation, U.S., AUSTRAC, Australia, Companies Registry, Hong Kong, and others. It has made full disclosure of all audits and licenses in the security section of the website. 
Insurance
As mentioned earlier, Nexo operates in a centralized model, and it uses Ledger Vault to store custodial assets.
Past incidents
No significant card-specific incident involving the Nexo Card was found in the sources that were examined. However, the main risk is usually platform-level risk, such as operational limitations, compliance modifications, or custody-related problems, because the card is inextricably linked to the platform. It has received 4.4 rating on trust pilot making it one of the most secured crypto credit cards.
Company background
Nexo has been in business since 2018 and operates a large crypto finance ecosystem that includes lending, borrowing, and earning products, all of which help support the card’s Credit Mode functionality.
Alternatives of Nexo Card
Conclusion
If you want to earn cryptocurrency cashback and have assets in Nexo, you should think about getting a Nexo Card. However, if you are looking for more decentralized features, then Nexo isn’t for you, as it is a CeFi product.
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Our Review Methodology
We review crypto cards using a consistent framework focused on real-world use, fees, risk, and usability. Here’s a quick look at how each card is evaluated before it’s ranked.
1. Real-World Testing
We review crypto cards based on how they behave once you actually start using them. This includes onboarding, spending, settlement speed, and how balances and rewards update in practice.
2. Fees & Terms Checked
Fees, limits, FX costs, and reward rules are verified using official issuer terms and fee schedules. Temporary promotions or targeted offers are not included in scores.
3. Risk & Reliability
We look at custody setup, issuer background, regulatory signals, and past operational issues to understand where user risk really sits.
4. Independent Scoring
All cards are scored using the same framework. Rankings are not pay-to-play, and commercial relationships do not influence ratings.
