I’m Martin, the PMM of Nexo.io’s World-First ETH Collaterized Card – AMA

Hi r/ethereum! I wanted to take a minute to bring to your attention the Nexo Card – the ETH/Crypto-backed card which lets you spend without selling your digital assets, and introduce myself. As I'm a part of the team that recently launched the product and have been working on its marketing ever since I would be very happy to get your thoughts on both. The product launched in cooperation with Mastercard – you will find links for reference below.

The idea of the Nexo Card is:

• Spend a crypto credit line collateralized by your ETH, BTC, ADA, MATIC, or any other asset supported by the Nexo platform.
• Avoid triggering capital gains tax while using the liquidity of your crypto.
• Earn 0.5% in Bitcoin or 2% in NEXO token rewards on purchases. (we're looking into adding more currencies)
• A virtual Nexo Card is also available instantly and can be added to Apple Pay and Google Pay.

This way you can HODL and never spend your crypto if you don’t want to.

How is the Nexo Card different? Well, it offers 0% APR credit lines with up to 90% LTV on stablecoin, 50% on ETH, 50% on Bitcoin, and so on. You only pay interest on what you actually spend and you can easily repay an open credit without any penalties in the first 30 days. You no longer need to borrow a sum of money or transfer any crypto between wallets as whenever you initiate a transaction everything is done automatically.

The maximum APR that you can pay for your credit is 13.9% if you are with Base loyalty in Nexo and can go as low as 0% if you are Platinum. To get Platinum, you need to hold 10% of your current portfolio in NEXO Tokens.

The Nexo Card is currently available for residents of the EEA but we’re looking to expand to North America and then global in the near future.

The launch of the card had coverage from Reuters, Yahoo Finance, Bloomberg, CoinDesk,

About me: I’ve been in crypto since 2018 but am professionally involved since the beginning of this year as a Product Marketing Manager at Nexo. Marketing has always been my passion and I have been practicing it for the last 12 years. I’ve always wanted to have a card that lets me HODL my crypto yet still use the financial potential it has, especially in times of crisis, recessions, and global pandemics.