Nexo adds “Dual Mode” credit and debit capabilities to the Nexo Card

Nexo has introduced Dual Mode functionality to the Nexo Card, giving clients the flexibility to switch between credit and debit modes at will.
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March 8, 2024
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

TABLE OF CONTENTS
Antoni Trenchev; Photo Source: Nexo (Youtube)
As stated by Nexo's official blog post, “With the Nexo Card, you can experience two modes in one sleek package. Just toggle between Credit and Debit Mode at any time and spend your way.”

Crypto lender Nexo has introduced Dual Mode functionality to the Nexo Card, giving clients the flexibility to switch between credit and debit modes at will.

The credit mode on the Nexo Card allows users to fund their purchases using fiat loans, with their crypto assets acting as collateral. The credit lines for these loans start at 0% APR, and clients have the option to repay the loan at any time without worrying about minimum monthly repayments.

Meanwhile, clients can use the debit mode on their Nexo Card to settle transactions with over 100M merchants using their GBP, EUR, or USD holdings. The debit mode also offers the added advantage of accumulating up to 9% interest on users’ spending balance.



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Unfortunately, the Nexo Card is only available to residents of the European Economic Area (EEA). Moreover, users who wish to apply for the Nexo Card will need to submit their identity verification details in addition to maintaining a minimum portfolio balance of $50.

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Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

Nexo adds “Dual Mode” credit and debit capabilities to the Nexo Card

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Contents
Antoni Trenchev; Photo Source: Nexo (Youtube)
As stated by Nexo's official blog post, “With the Nexo Card, you can experience two modes in one sleek package. Just toggle between Credit and Debit Mode at any time and spend your way.”

Crypto lender Nexo has introduced Dual Mode functionality to the Nexo Card, giving clients the flexibility to switch between credit and debit modes at will.

The credit mode on the Nexo Card allows users to fund their purchases using fiat loans, with their crypto assets acting as collateral. The credit lines for these loans start at 0% APR, and clients have the option to repay the loan at any time without worrying about minimum monthly repayments.

Meanwhile, clients can use the debit mode on their Nexo Card to settle transactions with over 100M merchants using their GBP, EUR, or USD holdings. The debit mode also offers the added advantage of accumulating up to 9% interest on users’ spending balance.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Unfortunately, the Nexo Card is only available to residents of the European Economic Area (EEA). Moreover, users who wish to apply for the Nexo Card will need to submit their identity verification details in addition to maintaining a minimum portfolio balance of $50.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

As stated by Nexo's official blog post, “With the Nexo Card, you can experience two modes in one sleek package. Just toggle between Credit and Debit Mode at any time and spend your way.”

Crypto lender Nexo has introduced Dual Mode functionality to the Nexo Card, giving clients the flexibility to switch between credit and debit modes at will.

The credit mode on the Nexo Card allows users to fund their purchases using fiat loans, with their crypto assets acting as collateral. The credit lines for these loans start at 0% APR, and clients have the option to repay the loan at any time without worrying about minimum monthly repayments.

Meanwhile, clients can use the debit mode on their Nexo Card to settle transactions with over 100M merchants using their GBP, EUR, or USD holdings. The debit mode also offers the added advantage of accumulating up to 9% interest on users’ spending balance.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Unfortunately, the Nexo Card is only available to residents of the European Economic Area (EEA). Moreover, users who wish to apply for the Nexo Card will need to submit their identity verification details in addition to maintaining a minimum portfolio balance of $50.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande