New Crypto Credit/Debit Card

1 min read

Nexo has a new crypto debit/credit card.

I haven’t used this one personally. It’s currently only available to EEA citizens/residents. You’ll need to go through KYC and have a Nexo account. For those of you who are ok rolling the dice with KYC exposure, the debit and credit options are unique. Use your crypto as collateral for the credit mode, you also earn 2% cash back when using credit. You can also spend stablecoins, EUR, GBP, or USD in debit mode.

Reminder: Nexo is a centralized, custodial lending platform like Celsius, Voyager and BlockFi (RIP). This means there are inherent risks associated with the trust involved with giving them custody over your coins in exchange for 9% annual returns.

It’s up to you to determine your appetite for risk and manage it accordingly.

Disclaimer: This article is for educational purposes only and does not constitute financial advice. Cryptocurrency investments carry risk; you should always do your own research before making any investment decisions.