BitPay vs Nexo

BitPay serves the United States only. Nexo serves the EEA and UK only. No individual user has access to both cards. This comparison matters for users choosing between exchanges as long-term platforms, for dual-residents or expats, and for understanding how different regions serve crypto card users.

Both operate on Mastercard with no annual fees. Both support Apple Pay. As of early 2026, BitPay has temporarily paused new card applications - existing cardholders can use their cards, but new users must join a waitlist with no confirmed reopening date. Nexo remains open for applications.

This comparison has the widest fee differential of any pair on SpendNode. BitPay charges 3% FX on international transactions plus $2.50 per ATM withdrawal. Nexo charges 0% FX, 0% conversion, and 2% ATM.

BitPay's 3% FX on $3,000/month international spending costs $1,080/year. Nexo's 0% FX saves that entire amount. On the same spending, Nexo additionally earns $720/year in NEXO cashback. The total annual gap: Nexo delivers $1,800/year more value ($720 earned + $1,080 saved) on international spending.

Domestically, BitPay has no conversion fee and functions as a zero-cost off-ramp for BTC, ETH, USDC, and USDT holders. But its merchant-specific cashback varies by retailer with no published fixed rate - some merchants offer 2-5%, others offer nothing. Nexo's flat 2% NEXO applies to every purchase without merchant restrictions.

ATM comparison:

• BitPay: $2.50 flat fee per withdrawal, $2,000/day limit
• Nexo: 2% per withdrawal, $1,000/day limit

A $200 ATM withdrawal costs $2.50 on BitPay (1.25%) versus $4 on Nexo (2%). BitPay is cheaper per withdrawal and offers a higher daily limit. For monthly $500 ATM users, BitPay costs $30/year versus Nexo's $120/year - one of BitPay's few numerical advantages.

Every BitPay transaction sells crypto to fiat, creating a taxable disposal and potential capital gains liability. BitPay has no credit mode and no way to spend without selling.

Nexo's credit mode borrows against holdings with no sale, no disposal, and no capital gains. Zero-Interest Credit (ZiC), launched January 2026, provides 0% APR for Gold and Platinum tier members borrowing against BTC or ETH. Standard credit rates range from 6.9% to 13.9% APR for non-ZiC users.

Tax impact for a holder with $60,000 in BTC (50% unrealized gains) spending $2,000/month:

The tax saving alone ($2,400/year) is 5x Nexo's cashback ($480/year). For holders of significantly appreciated crypto, the spending model difference - credit versus debit - matters more than any fee or cashback rate.

Nexo's dual-mode toggle lets users switch between credit (borrow) and debit (sell) per transaction. Credit mode for appreciated BTC/ETH, debit mode for stablecoins. BitPay offers debit mode only with no flexibility.

Nexo: 50+ cryptocurrencies supported for card spending (debit mode) and as collateral (credit mode). Covers major tokens plus mid-cap altcoins. $20,000/month spending limit (higher based on collateral in credit mode).

BitPay: 4 assets (BTC, ETH, USDC, USDT) through the BitPay wallet. $25,000/month spending limit. Crypto is loaded into the BitPay wallet and converted to a spendable balance, adding a pre-conversion step that many exchange-linked cards eliminate.

Nexo's 50+ asset support means users holding DOT, AVAX, LINK, MATIC, or other mid-cap tokens can spend directly. BitPay requires converting everything to one of 4 supported assets first, creating additional taxable events and wallet management overhead.

Spending limits: BitPay's $25,000/month slightly exceeds Nexo's standard $20,000/month, but Nexo's collateral-based credit mode can extend effective limits to $50,000-80,000+ for users with large portfolios.

Using BitPay for international spending without calculating the 3% FX impact. A US user traveling abroad who spends $3,000/month internationally pays $1,080/year in FX fees alone. No merchant cashback program can offset this cost at scale. The same user on Nexo (if available in their region) pays $0 in FX and earns $720 in cashback. How to avoid it: Reserve BitPay exclusively for domestic USD purchases. For international spending, use a zero-FX-fee card. If you are US-based, Coinbase offers 0% FX with up to 4% BTC back.

Choosing any debit card (including BitPay) to spend significantly appreciated crypto without evaluating the tax cost. Every debit card sale creates a taxable disposal. A user with $60,000 in BTC at 50% unrealized gains who spends $2,000/month creates $2,400/year in capital gains tax. Nexo's credit mode eliminates this entirely. Even if you cannot access Nexo (US-only user), understanding this tax dynamic should influence how you use BitPay - spend stablecoins (USDC/USDT) to avoid capital gains, and hold appreciated BTC. How to avoid it: Use BitPay for stablecoin spending (USDC/USDT, minimal or zero capital gains) rather than spending appreciated BTC directly. Consider the Coinbase Amex credit card as an alternative that avoids taxable disposals entirely.

For EEA/UK users: Nexo is the dramatically stronger option. Zero fees, 2% guaranteed cashback, tax-efficient credit mode, and 50+ assets. BitPay is not available in your region anyway.

For US users: BitPay provides basic domestic crypto spending if you can get past the waitlist, but Coinbase is the far superior US alternative with 0% FX, up to 4% BTC back, FDIC insurance, and an Amex credit card that avoids taxable disposals.

For cash-dependent US users: BitPay's $2,000/day ATM limit is its single strongest feature - double most competitors. If regular large cash withdrawals are a priority, BitPay delivers here.

Outlook: BitPay's paused applications and dated product design (3% FX, no credit mode, variable rewards) suggest a company in transition. If BitPay relaunches with competitive FX fees and consistent cashback, it could regain relevance in the US market. Nexo's Zero-Interest Credit positions it as the most innovative European card, and expansion to additional regions (potentially including the US) would be transformative. For now, these cards serve different markets with different quality levels - Nexo represents the modern standard that BitPay has not yet matched.