Nexo vs Wirex

Both cards serve the EEA and UK. Wirex additionally serves APAC markets and claims availability in 130+ countries. Nexo is limited to the EEA and UK. For APAC users, Wirex is the only option between these two.

Wirex operates on Visa. Nexo operates on Mastercard. Both charge 0% FX fees. Both have $0 annual fees at the base tier. Both support Apple Pay and Google Pay.

Wirex has operated since 2015, making it one of the longest-running crypto card providers. Nexo launched its card program more recently but has a longer history as a crypto lending platform. Wirex's App Store rating (3.5 stars, 33 reviews) is notably lower than the industry average. Nexo's (4.0 stars, 1,560 reviews) is more representative.

The free tiers are what most users will actually use. Wirex Standard (0.5%) and Nexo (2%) are both zero-commitment cards.

Nexo at 2% earns $720/year versus Wirex Standard's $180/year on $3,000/month spending. That is a $540/year advantage with zero commitment on either side. Choosing BTC rewards on Nexo (0.5%) matches Wirex Standard exactly - the NEXO token reward is essential for Nexo to win.

Wirex Elite at 8% earns $2,520/year after the $360 subscription on $3,000/month spending - 3.5x Nexo's cashback. But reaching the 8% rate requires both the $29.99/month subscription AND locking 7.5 million WXT tokens for 180 days.

Break-even for Wirex Elite over Nexo: The subscription costs $360/year. The cashback advantage over Nexo 2% is 6% per dollar spent. To recover $360 in subscription cost: $360/0.06 = $6,000/year ($500/month) in spending just to break even on the subscription - before accounting for the WXT lockup's opportunity cost. Above $500/month, Elite generates surplus value. But the WXT lockup adds capital-at-risk that shifts the break-even significantly higher.

Wirex Elite has a 250,000 WXT monthly reward cap. At current WXT prices, this cap limits effective monthly cashback to a fixed WXT amount regardless of spending volume. High-volume spenders above approximately $50,000/month may hit this ceiling.

These cards serve fundamentally different use cases.

Wirex replaces your travel debit card. Hold 30+ fiat currencies simultaneously, spend anywhere Visa is accepted, earn Cryptoback in WXT. It competes with traditional travel fintech (Revolut, Wise) while adding crypto support. The multi-currency wallet is unique in the crypto card space - no other card on SpendNode supports 30+ fiat currencies.

Nexo replaces your credit card. Borrow against your crypto holdings, spend borrowed value, keep your crypto exposure intact, earn 2% cashback. Zero-Interest Credit (ZiC), launched January 2026, eliminates interest for Gold/Platinum tiers borrowing against BTC or ETH.

Tax treatment is the structural difference. Every Wirex transaction sells crypto at point of sale, creating a taxable disposal. Nexo's credit mode borrows without selling - no disposal, no capital gains event.

For a European holder with $60,000 in appreciated BTC (50% unrealized gains) spending $3,000/month at a 25% capital gains rate:

• Wirex: $375/month tax liability ($4,500/year) on crypto disposals
• Nexo credit mode: $0 tax liability

The tax saving ($4,500/year) exceeds Wirex Standard's total cashback ($180/year) by 25x and even exceeds Wirex Elite's $2,520 cashback by $1,980. For holders of significantly appreciated crypto in taxable jurisdictions, Nexo's credit mode delivers more value than any cashback rate can compensate.

For stablecoin spenders or users with minimal unrealized gains, the tax difference is negligible, and the comparison reverts to pure cashback rates.

Wirex: 5 crypto assets (WXT, BTC, ETH, USDC, USDT) plus 30+ fiat currencies. Standard: $15,000/month spending, $250/day ATM. Elite: $50,000/month spending, $1,000/day ATM. 2% ATM fee after free monthly allowance (approximately $200 Standard).

Nexo: 50+ cryptocurrencies for card spending and collateral. $20,000/month standard spending (higher via credit mode based on collateral). $1,000/day ATM. 2% ATM fee.

For crypto-native users, Nexo's 50+ asset support covers far more tokens. For travelers who need multi-currency fiat wallets (holding EUR, GBP, USD, CHF, JPY simultaneously), Wirex is unique.

ATM fees are identical (2%) with similar free allowances. Nexo offers higher daily ATM access ($1,000 versus $250 on Wirex Standard). Wirex Elite matches Nexo's $1,000/day.

Comparing Wirex Elite's 8% to Nexo's 2% without accounting for the dual commitment barrier. The 8% rate requires both a $29.99/month subscription ($360/year) and locking 7.5 million WXT tokens for 180 days. The subscription alone requires $500/month in spending to break even against Nexo's free 2%. The WXT lockup adds concentrated token risk - if WXT declines 30% during the 180-day lockup, the capital loss can exceed years of cashback earnings. At the free tier, where most users actually operate, Nexo earns 4x more. How to avoid it: Unless you already hold significant WXT and plan to spend $1,000+/month, compare Wirex Standard (0.5%) to Nexo (2%). That is the realistic comparison, and Nexo wins by 4x.

Using Wirex to spend appreciated crypto without considering Nexo's credit mode tax advantage. Every Wirex transaction sells crypto, creating a taxable disposal. A user with $60,000 in BTC at 50% unrealized gains who spends $3,000/month creates $4,500/year in capital gains tax. Wirex Standard's $180/year cashback does not offset even 5% of this tax cost. Nexo's credit mode eliminates the disposal entirely. How to avoid it: If you hold appreciated BTC/ETH and live in a jurisdiction with capital gains tax, calculate the tax cost of spending via debit mode. If the tax exceeds your cashback, Nexo's credit mode saves more by avoiding the disposal than any cashback rate can earn.

For EEA/UK crypto holders with appreciated positions: Nexo with 2% free cashback and Zero-Interest Credit. The tax savings from avoiding disposals can exceed $4,000+/year, dwarfing any cashback comparison.

For EEA/UK casual spenders without tax considerations: Nexo at 2% earns 4x more than Wirex Standard (0.5%) with zero commitment from either card.

For multi-currency travelers: Wirex with 30+ fiat currencies fills a niche Nexo does not serve. If holding EUR, GBP, and USD simultaneously matters for your travel pattern, Wirex is the only crypto card that supports this.

For deep Wirex ecosystem participants: Wirex Elite at 8% with the WXT lockup delivers the highest subscription-based cashback in Europe. Worth it only if you already hold significant WXT and spend $1,000+/month.

For APAC users: Wirex is the only option between these two (Nexo does not serve APAC).

Outlook: Nexo's Zero-Interest Credit (January 2026) positions it as the most tax-efficient European card, a structural advantage Wirex cannot match without developing a credit-line product. Wirex's strength is its multi-currency travel infrastructure, which deepens its competitive moat against crypto-only cards. The key variable for 2026 is whether Wirex reduces its WXT lockup requirement for Elite (currently 7.5M tokens), which would make the 8% tier more accessible. Watch also for Nexo's potential expansion beyond EEA/UK, which would directly challenge Wirex in APAC markets.