Nexo Card Could Replace Binance Card for Europeans

Nexo is a renowned cryptocurrency platform for earning interest, lending and borrowing on your crypto assets (including stablecoins). It is the only Europe-based CeFi platform in this sector, that made it out alive, after the bear market wiped out competitors like Blockfi and Celsius. The other competitor still standing is Matrixport, a leader in the Asian market. Nexo is operating for over 5 years now in Europe and America, albeit, it was forced to curb down some services of its American branch due to regulatory restrictions. Luckily, it’s still offering all of its services to Europe-based customers and their Nexo Card is on path to become the most used crypto card, since Binance is forced to shut operations of its card on 20 December 2023.

In addition to this, they’re currently running a promotion, where new users get $25 (in BTC) when they sign up and deposit their first $100 in their account, so use my invite link here.

I am a proud user of Nexo since 2020 and it’s been paying me a very steady and attractive ROI on many assets that I hold there – I reduced my holdings during the bear market, but in recent months I started loading up more again,  as they pay very good interest and without a lock-up period.

One of the best services Nexo offers is a debit card and right now they’re offering up to 6% crypto cashback to new users who make their first transaction using the Nexo Card until December 31, 2023. This promotion marks a historic debut as Nexo has added the cashback feature to the Debit Mode of its payment card for the first time, while increasing the existing cashback rate of the card’s credit mode by three-fold.

As Binance Card is discontinued, the Nexo Card becomes the best option for EEA users.

It appears that Nexo card’s cashback offering comes in handy as a fallback option for Binance card users in the European Economic Area region (EEA).

About a month ago, Binance revealed that it is stopping card services in the EEA. Holders of existing physical or virtual cards under EEA, have until December 20, 2023, to use their cards before the discontinuation takes effect.

While this may have caused the affected users to panic and look out for suitable alternatives, Nexo card presents them with an alternative coupled with an opportunity to enjoy generous cashback offers.

Bright future for NEXO token

As of the time of writing, the price of Nexo is $0.7368 and has increased by 30% in the past month. On an even brighter note, coincheckup’s algorithm predicts the price of NEXO to surge by almost 600% in the next 6 months. Users of the platform are encouraged to buy and hold a certain amount of the token in order to receive higher ROI and better loan/borrowing terms, so there’s a utility and demand for the token. Your account tier is determined by the percentage of NEXO tokens you hold compared to the total crypto assets in your account, so the bigger your stake, the better terms you get. Inevitably, this leads to more tokens sitting dormant in people’s wallets, reducing the available supply and as the new bull market picks up, more demand and more new users will drive the price of this token to new highs.

Check out Nexo, give it a test run, see how you can earn interest on your crypto during this bull cycle.

Nexo Card’s Tripled Cashback Credit Mode

The Nexo Card allows users to switch between Credit and Debit Mode in seconds and benefit from favourable promo terms on both. Once your transaction with the Nexo Card is settled, you’ll receive crypto cashback based on your Loyalty Tier, which will be seamlessly added to your portfolio balance.

The addition of cashback on the Debit Mode of the card is in tune with Nexo’s policy to meet the needs of its users. Nexo now offers unmatched cashback benefits on the Debit mode of the Nexo Card for the first time.

The cashback rates vary with the card tier as the rewards are customized to suit the preferences and usage of the card holders. This limited-time promo is available until December 31, 2023, and is only available to users who make their first transaction in this period.

While Nexo had previously held cashback offerings for its card’s Credit Mode, it is taking a different turn this time around. The company has tripled the cashback rates in Credit mode across all tiers and you can benefit from this right now.

The cashback offer is available to users who make their first transaction during the promo period. Here’s how to get that 6% cashback:

1. Go to the Card tab, select ‘Card Mode’ and choose Credit Mode.
2. Opt in to receive your crypto cashback in Nexo tokens from your ‘Card Settings’ → ‘Choose Cashback Type’ inside the Nexo app.
3. Secure a Platinum Tier by keeping more than 10% of your overall portfolio in NEXO Tokens.

Nexo’s triple cashback perfectly responds to the growing demand for financial products that offer more than just transactions, and there’s more!

Nexo has doubled the list of coins and tokens that users can hold in their accounts, making it the most versatile and user-friendly platform to offer interest-bearing accounts. You can earn between 8 and 12% APR on many assets like BTC, ETH, ADA, SOL, AVAX, LTC, EOS, BNB, ATOM, NEAR, FTM, KSM, DOT, MATIC, APE, AAVE, and on others, like AXS it jumps to 30% APR. Stablecoins, like USDC, USDT, USDP and others pay out up to 14% APR.

Here is a screenshot with just a few of these, the list is way too big to show it all on the screen.

For those who are not keen on selling their crypto (especially so early in this bull cycle), you have the option to use it as collateral and borrow against it. This is the feature I use the most. Why sell your Bitcoin, when you can borrow against it, let the market value grow to a point, where your loan is paid off simply from the price increase. That’s what many OG’s are now doing and it’s been my strategy too. Not so much during the bear cycle, but definitely in a bull market, it’s what I do all the time.

In my opinion, the best time to stake or loan your crypto is at the start of a bull cycle, so you can ride the wave safely and gain extra profit from the staking rewards and NEXO is definitely my top choice for this. Other similar services I use are decentralized DAOs, like The Standard and Aave, but these are much more complex and I will dedicate a separate post on those later on.

To summarise, Nexo is the leading European cryptocurrency platform with 5 years of operation, it specializes in interest earning, lending, and borrowing of crypto assets. As Binance discontinues its card services, Nexo offers a compelling alternative with generous cashback offers, promoting its Nexo Card as the primary choice for EEA users. Sign up today using my invite link and you will get $25 in Bitcoin (you need to deposit $100 or more, to qualify for this offer, which is a breeze.)

Invite link: https://nexo.io/ref/9ohr0iozha?src=web-link

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The information contained in this video is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this post reflects solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.

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