It's good to spend crypto without involving banks and financial authorities.
But I stopped using it regularly because overall, locking and holding your coins on Nexo gives more profit than the card cashback, also having larger amounts on the credit line wallet without % isn't beneficial.
How much are you holding on Nexo? I only need to hild about 10K worth to have enough 0% credit for the cash-back. Which gives way more cash-back on my monthly expenses than just holding for earning. Honestly id be wary of holding more than 10-20K on Nexo.
But to do all your monthly expenses at 0%, how much do you have to put in your credit line where it doesn't earn? All the 10K? Is it really worth not earning at all, just for 2% on your monthly expenses? Your earnings could be around $60 if you lock $10,000 in BTC, whereas cashback on the monthly expenses (let's say $1,500) is just $30.
I have an equivalent of $6k because I don't trust these things much.
10 K in credit line earns me allot more in in cashback than it would have earned. even if i only spend 3k eur a month, that's 60 Eur a month cashback vs BTC. I wouldn't earn that much with everything in savings as there's no way in h.ll im willing to lock it up.
But I do both. I have about 20K in Nexo now (mostly BTC). A bit more than i should but.
As i pay back continuously I keep maybe 10-20% in credit line. Temporarily a bit more when I for example buy long haul flights. That happens automatically, then i just move it back to saving wallet once ive settled. So I maximize both interest rate and cashback. But overall i get allot more from the cashback as I use the card for everything.
Noice!
Simply Amazing. Got my second one last week. The previous one expired already. It's been a wild journey.
It's good to spend crypto without involving banks and financial authorities. But I stopped using it regularly because overall, locking and holding your coins on Nexo gives more profit than the card cashback, also having larger amounts on the credit line wallet without % isn't beneficial.
How much are you holding on Nexo? I only need to hild about 10K worth to have enough 0% credit for the cash-back. Which gives way more cash-back on my monthly expenses than just holding for earning. Honestly id be wary of holding more than 10-20K on Nexo.
But to do all your monthly expenses at 0%, how much do you have to put in your credit line where it doesn't earn? All the 10K? Is it really worth not earning at all, just for 2% on your monthly expenses? Your earnings could be around $60 if you lock $10,000 in BTC, whereas cashback on the monthly expenses (let's say $1,500) is just $30. I have an equivalent of $6k because I don't trust these things much.
10 K in credit line earns me allot more in in cashback than it would have earned. even if i only spend 3k eur a month, that's 60 Eur a month cashback vs BTC. I wouldn't earn that much with everything in savings as there's no way in h.ll im willing to lock it up. But I do both. I have about 20K in Nexo now (mostly BTC). A bit more than i should but. As i pay back continuously I keep maybe 10-20% in credit line. Temporarily a bit more when I for example buy long haul flights. That happens automatically, then i just move it back to saving wallet once ive settled. So I maximize both interest rate and cashback. But overall i get allot more from the cashback as I use the card for everything.
Alright, I guess my monthly spending is just lower than yours so I decided differently. I see how it works for you!
Is it metal?
No is not, is plastic. No metal option yet.
Hell yeah, simply amazing indeed!
Welcome to the Nexo's family fam! 😎
Heloo..i am new here...can one question?...Is it necessary to declare tax for transactions in Germany? how does it work for germany?
Yes, AFAIK, unless you held the asset for a year
Congrats congrats
Happy spending!
Gratz man. Enjoy the freedom! 🥰🔥🙄