Nexo card has just been launched-a new payment card supported by Mastercard that allows you to spend the value of your cryptocurrency without actually selling it.
Nexo Card
Nexo is the world’s most advanced and regulated digital asset institution, has officially launched the Nexo Card, the first cryptocurrency-backed Mastercard in selected European markets. For this launch.
Nexo partnered with Mastercard and DiPocket to enable its users to access cryptocurrency-based liquidity at more than 92 million merchant sites worldwide.
Nexo Card commissions:
The Nexo card as stated on the official website is 100% free,
No recurring payments no fees, That’s right Nexo will not require you to make any minimum monthly payments on your Nexo Card! There are also no monthly, annual or inactivity fees to worry about.
Is Nexo Card secure?
Nexo’s platform combines user experience with military-grade security with 256-bit encryption and $375,000,000 in insurance. Customer funds are stored in separately allocated multi-signature wallets and protected by Cold Ledger Vault, Goldman Sachs’ only qualified, audited and supported custodian: BitGo.
BitGo complies with the cryptocurrency security standard level 3 and SOC 2.
- Security login
- 2FA authentication ✅
- SMS verification, email verification ✅
- authenticator app support ✅
- Fingerprint or face recognition ✅
Advantages of Nexo Card compared to other cards?
- Your cryptocurrencies are not used: the Nexo card is linked to a line of credit offered by Nexo, backed by cryptocurrency, and the annual interest rate remains at 0%. It allows cardholders to use their digital assets as collateral instead of selling them. Credit lines are dynamic and can use a variety of cryptocurrencies as collateral, including but not limited to: Bitcoin, Ethereum, and Tether.
- This no-cost credit from Nexo is available to eligible Nexo customers who maintain a Loan-to-Value (LTV) ratio of 20% or less.
- Zero fees: The card requires no recurring, monthly payments or inactivity fees. There are no fees for foreign transactions up to 20,000 per month.
- 2% Cashback: Every Nexo Card transaction comes with instant cashback, paid in Bitcoin or Nexo’s native NEXO Token. This means users can not only keep their digital assets, but also earn up to 2% in cryptocurrency for free with every purchase, which automatically becomes available in their Nexo account.
- Nexo Card has direct integration with Apple Pay and Google Pay
- 10 free ATM withdrawals: Get up to 10 free ATM withdrawals each month.
- 10.000€ Withdrawal Limit: Monthly withdrawal limit up to 10,000€.
- Earn up to 36% APR on Crypto: Make your idle cryptocurrencies work for you with Nexo and Start earning up to 36% APR, daily payment!
Loan to Value (LTV) Calculation
Loan to Value is calculated as the loan amount divided by the value of your assets, expressed as a percentage. e.g.:
5000€ ÷ 10000€ = 50% LTV.
How to get the Nexo Card
Reapplying for your Nexo card is easy.
- First we open the Nexo website and register. https://nexo.io/
- We download the Nexo mobile app and log in.
- It is a centralized platform (CeFi), so we have to do KYC.
- We can immediately follow these steps:
- Let’s open an account on Nexo
- Click“Activate Nexo Card” to activate the virtual card in a few moments
- Select“Add to wallet” to add your Nexo card to services such as Google Pay and Apple Pay
- And it’s already ready for use
So we can activate the virtual card and use it right away, to receive the physical card there will be a wait, after completing the recognition process, uploading documents and scanning the face.
The average time varies from a few minutes to a maximum of 1 business day.
About mastercard:
Mastercard is a global technology company in the payments industry.
Its purpose istoconnect and power an inclusive digital economy that benefits everyone, everywhere by making transactions secure, simple, smart and accessible.
With connections in more than 210 countries and territories.
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