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Nexo Card
DiPocket UAB (Mastercard issuer); Nexo Group (operator) · MASTERCARD credit
Issuer is MiCA-licensedEMI LT★ 4.0 / 5
The Nexo Card (Mastercard issued by DiPocket UAB in Lithuania) is the only EEA + UK card with dual Credit + Debit modes in a single card. Cashback 0.5-2% in NEXO Tokens or 0.1-0.5% in BTC, depending on Loyalty tier. 0.2% FX fee in EEA/UK/CH on weekdays. Requires a USD 5,000+ portfolio in your Nexo account for any Loyalty tier. Not available in Bulgaria.
Affiliate disclosure: if you sign up with DiPocket UAB (Mastercard issuer); Nexo Group (operator) via this link, NorriWire may receive a commission. It costs you nothing extra and does not affect the price. See our .
Cashback
0.5%
NEXO
Monthly fee
Free
FX markup
0.20%
over ECB
Fees
Issuance
Free
Monthly fee
Free
FX markup
0.20%
Free ATM per month
€200
ATM fee thereafter
2.00%
Card replacement
€0.00
Inactivity fee
€0.00 / mo
Features
✓Physical card
✓Virtual card
✓Contactless payments
✓Apple Pay
✓Google Pay
✓Support for 100+ crypto balances
Supported fiat currencies: EUR, GBP, CHF
Pros
✓The only EEA card with dual Credit + Debit mode at one tap
✓Mastercard network (100+ M merchants globally, Apple/Google Pay)
✓Competitive FX fee in EEA/UK/CH (0.2% weekdays, 0.7% weekends)
✓No monthly, annual or inactivity fees
✓Up to 2% NEXO Token cashback or 0.5% BTC cashback (Platinum tier)
✓DiPocket UAB EMI licence from Bank of Lithuania - EU regulated
✓Numerous awards - Fintech Breakthrough 2024-2025, INATBA 2025, Digital Banker
Cons
✗Requires a USD 5,000+ portfolio at Nexo for any Loyalty tier
✗Highest cashback (2%) requires over 10% of portfolio in NEXO Tokens - volatility risk
✗Rest-of-world FX is expensive (2-2.5%) - less suitable for international travel
✗Not available in Bulgaria (Nexo country of origin) and a few other jurisdictions
✗Physical card requires USD 5,000+ portfolio and minimum Gold tier
✗Nexo Group previously had SEC settlement in 2023 (USD 45M) and Bulgarian investigation (closed 2023-12)
Full review
Nexo Card - the only EEA Mastercard that switches Credit ↔ Debit with one tap
The Nexo Card (legally issued by DiPocket UAB - a Lithuanian e-money institution operating under a Bank of Lithuania EMI licence) is a Nexo Group crypto card running on the Mastercard network. It is the only EEA card product with dual-mode functionality - a single card that switches with a single tap from Credit Mode (spending against a crypto-backed credit line) to Debit Mode (direct crypto spending). This review walks through how it actually works, what it really costs, and who it fits.
In short
Item
Status
Issuer
DiPocket UAB (Lithuania, EMI licence from Bank of Lithuania)
Network
Mastercard (100+ M merchants globally)
Type
Dual - Credit + Debit mode in one card
Available
EEA + UK + select European countries (NOT Bulgaria)
Cashback
0.5-2% in NEXO tokens or 0.1-0.5% in BTC (by Loyalty tier)
What the Nexo Card is and how it differs from other crypto cards
The Nexo Card launched in April 2022 in partnership with Mastercard and DiPocket UAB. Its unique feature - one card, two modes:
Credit Mode: you spend without selling your crypto. The card automatically pulls the amount against your crypto portfolio as collateral at a low interest rate (from 1.9%). The crypto stays in your account, continues to gain value (or fall), and you repay the credit at your own pace.
Nexo Card · NorriWire
✗
Loyalty tier mechanics push you into NEXO Token holdings - complex product UX
Debit Mode: you spend your crypto directly. The card auto-converts it to fiat at the moment of the transaction. You can prioritise which asset to use first (drag-and-drop priority list).
Switching between modes is instant from the Nexo app. Other crypto cards (Crypto.com Visa, Bitpanda Card, Bybit Card) typically offer only one model. This dual functionality is Nexo's unique market position.
What's behind Nexo - the important context
Nexo Group was founded in 2018 in Bulgaria. The group now manages USD 7+ billion in AUM (Q1 2026 figure on nexo.com). But Nexo's journey has not been smooth:
January 2023 - SEC settlement. The US Securities and Exchange Commission reached a USD 45 million settlement with Nexo over an unregistered «Earn Interest Product» - a high-yield (up to 20%) crypto deposit offering. Nexo withdrew the product from the US market. This was not a fraud case - a regulatory dispute over whether the product was a security under US law.
January 2023 - Bulgarian criminal investigation. That same month the Bulgarian prosecutor opened an investigation into four Nexo executives on suspicion of tax offences, banking without a licence, and computer fraud.
December 2023 - case closed. The Sofia City Prosecutor's Office closed the case, finding no evidence of any criminal activity. All defendants were cleared.
2024 - Nexo's claim against Bulgaria. Nexo filed a USD 3 billion ICSID arbitration claim against Bulgaria for the «wrongful and politically motivated» investigation and resulting reputational and business losses. The arbitration is ongoing.
This context matters because Nexo Card users are realistically not affected by these disputes - the card issuer is the Lithuanian EMI DiPocket UAB, not Nexo in Bulgaria - but it is worth knowing.
How the Loyalty Tier system works
To qualify for any Loyalty tier you need a portfolio of at least USD 5,000 in your Nexo account. The tier itself is based on the NEXO Token share within that portfolio:
Tier
NEXO share
NEXO cashback
BTC cashback
Free ATM/month
Base
<1%
0.5%
0.1%
€200 / £180
Silver
1-5%
0.7%
0.2%
€400 / £360
Gold
5-10%
1%
0.3%
€1,000 / £900
Platinum
>10%
2%
0.5%
€2,000 / £1,800
Practical implication: to earn the advertised 2% cashback you need at least 10% of your portfolio in NEXO Tokens. NEXO is highly volatile - that is both the cashback's risk and its upside. If you prefer a more stable reward, choose the BTC payout (up to 0.5% at Platinum).
Real fees - the honest view
Nexo Card's headline cost structure:
Service
Fee
Card issuance (virtual)
€0 (USD 50 minimum account balance)
Card issuance (physical)
€0 + free shipping, but USD 5,000+ and Gold tier required
Monthly/annual/inactivity
€0
FX fee EEA/UK/CH (weekdays)
0.2%
FX fee EEA/UK/CH (weekends)
0.7%
FX fee rest-of-world (weekdays)
2.0%
FX fee rest-of-world (weekends)
2.5%
Free ATM (tier-dependent)
€200-2,000/month
ATM fee above limit
2% (min €1.99)
Credit line interest
from 1.9%
Real example: spend €1,000 in Spain (EEA) on a Wednesday. FX fee 0.2% = €2. Cashback at Platinum (2%) = €20 in NEXO. Net positive €18. That is a genuinely competitive number.
But on holiday in Thailand (rest-of-world) on a Saturday: 2.5% FX fee = €25 on a €1,000 spend. Cashback stays at 2% = €20. Net negative €5. So the Nexo Card fits EEA spending better than international travel.
Security and compliance
EMI licence: DiPocket UAB is a registered e-money institution with Lietuvos bankas - EU regulated
Mastercard network: full Mastercard traceability, chargeback protection, security standards
Client funds segregation (EMI requirement)
Apple Pay and Google Pay support
Biometric authentication, instant card freeze in the app, security spending controls
256-bit encryption on the Nexo platform
Industry-grade custody (per Nexo's own statement)
Notable awards: 2024-2025 Fintech Breakthrough Awards, 2025 Digital Banker Award, 2025 INATBA Award. Trustpilot rating around 4.6 across 124,000+ reviews.
Five risks worth saying out loud
1. NEXO Token volatility on the cashback side. If you take cashback in NEXO and the NEXO price falls, the effective value of your cashback shrinks. NEXO was around USD 1.30 twelve months ago and sits at USD 0.90 today (-31%). The BTC option (0.1-0.5%) is more stable but at a much lower rate.
2. The USD 5,000 minimum. To get any cashback or the physical card you need USD 5,000 in your Nexo portfolio. That is a meaningful barrier - many BTC beginners do not meet it.
3. Bulgaria litigation and Nexo's arbitration. Although the criminal investigation closed in December 2023 and the issuer is in LT, not BG, Nexo is still in a USD 3B ICSID arbitration with Bulgaria. Not a user-level threat, but a political-risk overlay on the Nexo group's reputation.
4. SEC 2023 settlement. USD 45M over the «Earn Interest Product» - a past, US-only event, but a signal that Nexo has previously brushed up against regulators.
5. Loyalty tier mechanics are complex. To reach Platinum (2% cashback) you need not only USD 5,000 but more than 10% of it in NEXO Tokens. That forces you into NEXO with all its volatility. Exit NEXO and you fall back to Base (0.5%).
Who Nexo Card fits
A user with a USD 5,000+ crypto portfolio who spends regularly in Europe (EEA/UK/CH) - 0.2% FX on weekdays is materially competitive.
A user who wants to hold crypto and spend at the same time - Credit Mode lets you keep a BTC position and use its value for spending without selling.
An active NEXO Token holder chasing up to 2% cashback - aware of the NEXO volatility risk.
An Apple Pay / Google Pay user - the mobile payment integration is seamless.
Not a fit for:
Beginners below USD 5,000 - no cashback and no physical card
Users who mostly spend outside EEA/UK/CH - 2-2.5% FX becomes expensive
Bulgarian residents - the card is not available there
Users who want simpler product UX (Nexo's internal modes are quite complex)
Users who avoid Loyalty-program «gold-handcuff» structures
Alternatives for the EEA user
Bitpanda Card - Austrian Pro exchange debit card with a MiCA-regulated parent and 1% cashback in BEST tokens
Crypto.com Visa - 100+ country availability, up to 5% CRO cashback, but requires significant CRO staking
Bybit Card - Mastercard, BTC/USDT cashback, MiCA CASP from Austria
Bleap Card - European debit card with EUR-focused cashback
Coinbase Card - simple Coinbase Visa debit with USDC/BTC cashback
Bottom line
The Nexo Card is the only EEA Mastercard with dual Credit + Debit modes in a single card. It is a strong pick when (1) you hold USD 5,000+ in crypto at Nexo, (2) you spend mainly in EEA/UK/CH (0.2% FX on weekdays), (3) you want to keep a crypto position and spend at the same time (Credit Mode), and (4) you are willing to take NEXO Token volatility (2% cashback is only available at the Platinum tier).
Not a fit for beginners, non-EEA travellers or anyone avoiding the Loyalty-tier mechanic. The historical Bulgaria issues and SEC 2023 settlement are known but have not affected card functionality - because the issuer is the Lithuanian EMI DiPocket UAB, not Nexo in Bulgaria.
Realistic verdict: if you are already an active Nexo user with a meaningful crypto portfolio, this is a great card. If you do not yet bank with Nexo - there are simpler, cheaper alternatives for beginners.
