The Nexo Card is an extension of our instant crypto credit line (credit line is basically the value of the crypto in your nexo account), allowing you to make everyday purchases on the move without having to sell your precious crypto. Simply put, Nexo provides fiat currency and provides cryptocurrency as collateral for repayment. All of this happens behind the scenes when purchasing with a card.Rates from 0% APR that don't exceed 13.9% APR. 0% APR has to be enabled in the option from the Card Settings menu inside the Card tab. Once enabled, it will just transfer, just enough collateral to keep your LTV below 20% so you get 0% Dynamic Interest if you have enough assets in your account. Once you get your Nexo Card, you can start earning crypto rewards on any purchase and or ATM withdrawal, paid out in Bitcoin (up to 0.5% back) or NEXO Tokens (up to 2% back)
Important things you should know about the Nexo Card:
No annual, or inactivity fees
No FX fees for up to €20,000 per month
Up to €10,000 in monthly ATM withdrawals
Up to 10 free withdrawals per month
you will be able to activate your virtual Nexo Card immediately (for free) and order a physical one that will come eventually (mine is being shipped in 2 days and says it should take 7 days to arrive at my house), keep in mind to get the physical card you need to have at least 500$ in your nexo account. you'll be able purchase using Apple Pay or Google Pay, the virtual card functions just like the physical card, with the virtual card you can still make contactless withdrawals on some ATMs. one of the up sides of a virtual card is that it cant be stolen, until someone steals your phone. there are somethings to keep in mind with the nexo card. See what I mean below.
Transaction limits:
Monthly: up to €60,000
Daily: up to €10,000
Per single transaction: up to €10,000
ATM withdrawal limits:
Monthly: up to €10,000
Daily: up to €2,000
Per single withdrawal: up to €600
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