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6.8/10
Crypto Cards
Company file: Nexo, owners, incidents →
Nexo Card
In Credit Mode the card draws on a loan against your crypto rather than spending it, which avoids a disposal and means each purchase adds to a loan secured by your coins; a sharp drawdown can liquidate collateral you were treating as savings. A Debit Mode spends the balance instead. Nexo returned to the US in February 2026.
Best for: Spending against collateral without selling the underlying
Company file: Nexo, owners, incidents →How this score was reached
6.8 is the weighted average of the five pillar findings below. Works, but something here costs you — money, control or certainty.
- Custody & Security25%
- 6.0
- Cost & Fee Transparency25%
- 6.6
- Regulation & Legal Standing20%
- 7.0
- Performance & Reliability15%
- 7.4
- Access & Support15%
- 7.8
Custodial collateral. Nexo lists SOC 2/3, ISO 27001 and CCSS Level 3 rather than a live liabilities report. In Credit Mode spending creates a loan against assets Nexo holds, so a market move can force liquidation.
Credit lines from 1.9% a year, but Nexo publishes no single fee table: card cashback (up to 2%) and other terms depend on a loyalty tier set by your NEXO holdings.
Paid $45M to the SEC and states in 2023 and left the US; relaunched there on 16 Feb 2026 via Bakkt. California's DFPI fined it $500,000 over unlicensed lending in Jan 2026.
Reliable card operation; the credit-line model performed through the 2022 cycle without interruption.
Simple onboarding for existing account holders, with a choice between Credit and Debit Mode.
Strengths
- Credit Mode spends without triggering a disposal of the underlying asset
- Debit Mode available if you do not want leverage
- Credit line kept working through the 2022 cycle
Against it
- In Credit Mode each purchase adds to a loan, and a drawdown can force liquidation
- No single fee table; terms depend on NEXO holdings
- Custodial, with certifications rather than a live liabilities report
Spending on margin, if you choose Credit Mode
In Credit Mode the Nexo card draws on a credit line against your collateral rather than spending it, which helps if you do not want to trigger a disposal. It also means each purchase adds to a loan secured by your coins, and a sharp drawdown can liquidate collateral you were treating as savings. Debit Mode spends your balance instead and avoids that.
Nexo kept paying out through 2022 and returned to the US on 16 Feb 2026. It now lists security certifications (SOC 2/3, ISO 27001, CCSS Level 3) rather than a live liabilities report, and card cashback and other terms depend on how much NEXO you hold.
Frequently asked questions
Can I be liquidated by using the Nexo card?+
In Credit Mode, yes. Each purchase increases the loan against your collateral, and a sharp fall in that collateral can force liquidation. Debit Mode spends your balance and carries no loan.
What does it actually cost?+
Credit lines start just under 2% a year. Nexo publishes no single fee table: cashback (up to 2%), free withdrawals and rates depend on a loyalty tier set by the share of your portfolio held in NEXO.
Is the Nexo card available in the US?+
Nexo relaunched in the US on 16 Feb 2026 through Bakkt, with yield, exchange, loyalty and credit lines. Check which products your state allows before moving collateral.
Assessed by
Blockchain Security Researcher · September 27, 2026
◆ Disclosure
CoinRadar Daily is a non-commercial project. We have no commercial relationship with Nexo Card, earn nothing from any link on this page, and carry no advertising or sponsorship anywhere on the site. Findings rest on public sources; we did not open an account or transact.
Rubric v2.0How we score →
The rest of the crypto cards table
- 03Nexo Card — you are hereSpending against collateral without selling the underlying6.8
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