Things to know about Nexo card 👀

The card is linked to a crypto line of credit provided by Nexo that allows cardholders to use their digital assets through payment instead of selling them.

Nexo, chief digital officer, is working with Mastercard to create the world's first crypto payment card that allows users to use digital devices without having to sell them.

Nexo Free Credit is available to eligible Nexo customers in Europe.

The card is linked to a crypto-sponsored line of credit provided by Nexo that allows cardholders to use their digital assets through payment instead of selling them, Nexo said in a statement. Linklines are powerful and many assets can be used for trading, including Bitcoin, Ethereum, and Tether.

The card can be used by 92 million merchants worldwide where Mastercard is accepted and merchants can use up to 90% of the fiat value of cryptocurrencies without having to sell them. According to the statement, users can receive up to 2% cashback in cryptocurrency on all exchanges.

This card has direct Apple Pay and Google Pay integration. Cardholders can add them to their favorite wallets in the Nexo Wallet app. The company plans to expand its business card and expand its services beyond Europe in the future.

How does the Nexo Card work?

The Nexo Card works like a debit card and connects to Nexo's Instant Crypto credit lines. All purchases deducted from your credit card use digital technology to make loans. Mortgage rates vary by royalty level and can be paid off at any time with no down payment.

How to Make Repayments on My Nexo Card?

For each purchase, this amount is added to your loan. Therefore, you can repay as usual. Select the "Refund" button on your account page or in the Nexo app dashboard and select your preferred refund. You can find more details here.

The policy of paying interest in addition to repayment within 30 days of the last loan date does not apply to loans on the Nexo card. This means that if you buy only with a card without drawing on your line of credit using the platform's "Borrow" functionality, you will not receive any additional interest for another 30 days in the event of prepayment. Nexo card purchases will not renew for a 30 day period if you have withdrawn a loan from the platform within the last 30 days. However, any good credit you use with your Nexo card includes your credit limit. Therefore, if you repay the balance in full within 30 days of the last loan period, additional interest will be charged on the full amount of the repayment, including the Nexo card purchase default loans.