Nikolas Sargeant
Nexo, the world’s leading digital assets institution, announced the launch of cashback in Debit Mode of the Nexo Card for the first time. In a press release shared with Cryptowisser, the team said this exclusive, festive season offering for the world’s first crypto-backed credit card is available to new users and will run through December 31st.
Nexo said its 3x cashback aptly meets the growing consumer demand for financial products with more than just transactional value, especially in time for the seasonal heightened spending activity and desire to maximize purchasing power.
Here are some 2023 Christmas Shopping Facts:
-
72% of consumers expect discounts before Black Friday, according to PwC’s Holiday Outlook 2023.
-
Consumers are expected to increase spending by 7% in 2023, allocating an average of $1,530 for gifts, travel, and entertainment.
-
Consumers with household incomes of up to $25,000 will spend 18% more in 2023 – the same percentage increase as in households with an income of over $150,000.
Introduction of Debit Mode Cashback
The Nexo team said its cashback benefits is available to the following Nexo Card Debit mode:
-
Platinum Tier
Exclusive Rates: 2% in NEXO; 0.5% in BTC
-
Gold Tier
Exclusive Rates: 1% in NEXO; 0.3% in BTC
-
Silver Tier
Exclusive Rates: 0.7% in NEXO; 0.2% in BTC
-
Base Tier
Exclusive Rates: 0.5% in NEXO; 0.1% in BTC
Tripled Credit Mode Cashback Rates
The team said new Nexo Card users can now revel in increased Credit Mode Cashback rates across all tiers:
-
Platinum Tier
The pinnacle of rewards, with rates soaring from 2% in NEXO and 0.5% in BTC to an unparalleled 6% in NEXO and 1.5% in BTC.
-
Gold Tier
Enhanced cashback rates of 3% in NEXO and 0.9% in BTC, up from 1% in NEXO and 0.3% in BTC.
-
Silver Tier
Rates elevated from 0.7% in NEXO and 0.2% in BTC to an impressive 2.1% in NEXO and 0.6% in BTC.
-
Base Tier
Rates increased from 0.5% in NEXO and 0.1% in BTC to an exceptional 1.5% in NEXO and
0.3% in BTC during the exclusive period.
Revised Monthly Cashback Limits
The team also revealed an updated cashback limits and they include:
-
Platinum Tier
A generous $100 monthly cashback limit.
-
Gold Tier
Enjoy a $75 monthly cashback limit.
-
Silver Tier
Benefit from a $50 monthly cashback limit.
-
Base Tier
Take advantage of a $25 monthly cashback limit.
The Nexo team added that the exclusive seasonal offering indicates the company’s commitment to delivering beyond seamless transactions, emphasizing the exceptional value for its cardholders.
The enhanced cashback for both Debit and Credit Modes on the Nexo Card enables users to maximize benefits and reinforces Nexo's role as a leader in innovating card reward standards.
Nexo is the world’s leading digital assets institution. The company’s mission is to maximize the value and utility of digital assets by offering a comprehensive suite of products that include advanced trading solutions for retail and institutional clients, aggregation of liquidity from leading venues, and tax-efficient asset-backed credit lines.
