Nexo Card: Debit Mode spends assets; Credit Mode borrows against them
The modes solve different problems. Debit Mode converts selected digital assets for the purchase. Credit Mode preserves the position but creates a crypto-backed debt whose interest can outweigh cashback.
Debit Mode
Spends stablecoins, crypto or FiatX balances in the selected priority. Nexo handles conversion. Spending appreciated crypto can crystallise a gain or loss and may create a taxable disposal.
Credit Mode
Uses a crypto-backed Credit Line without selling the collateral. There is no fixed repayment schedule, but interest continues while debt remains and collateral value can change.
Published Credit Mode cashback tiers
Current EEA cashback requires more than $5,000 in account assets. Reward depends on Loyalty Tier and payout asset.
| Tier | NEXO reward | BTC reward |
|---|---|---|
| Base | 0.5% NEXO | 0.1% BTC |
| Silver | 0.7% NEXO | 0.2% BTC |
| Gold | 1% NEXO | 0.3% BTC |
| Platinum | 2% NEXO | 0.5% BTC |
€1,000 carried for 30 days
Illustration assumes 2% NEXO cashback (€20 gross), a constant APR and repayment after 30 days. It excludes token-price changes, collateral opportunity cost and compounding.
| Borrowing APR | 30-day interest | Reward minus interest |
|---|---|---|
| 1.9% APR | €1.58 | €18.42 |
| 10.9% APR | €9.08 | €10.92 |
| 18.9% APR | €15.75 | €4.25 |
At 2% cashback, the simple 30-day break-even APR is about 24.3%. Lower tiers and BTC payout have much lower break-even rates.
Decision rule
Debit Mode fits users who intentionally want to dispose of the chosen balance and avoid debt. Credit Mode fits only when preserving the asset is worth the borrowing cost and collateral risk. Cashback is a partial offset, not free borrowing.