Nexo launches Booster loan product for users
Nexo (NEXO/USD) has launched an industry-first product that lets users take advantage of a tool that pro traders have been using for quite some time, Invezz learned from a press release. This is the Nexo Booster, which is available on Nexo’s mobile app and gives the company’s 3M+ community access to lending and other services.
Up to 3x leverage
Through Nexo Booster, you can borrow up to 3x more than your initial balance. The product comes with very strict collateral requirements, uniting Nexo’s crypto exchange and its flagship credit lines. The profit projection feature enables users to monitor the effect of market movements in real time.
Full collateralization, intuitive user experience
The following are among the Booster’s additional advantages:
- Fully collateralized position: LTV of up to 70%
- Up to 0.5% cashback on the full amount of the transaction
- Intuitive user experience, boost positions and borrow in a simple process
- Multiple-asset approach and easy price prediction
- Up to $250,000 available per boost transaction
Targeting clients with long-term focus
The Nexo Booster targets retail clients with a focus on the long term, who are comfortable with the company’s credit lines and are willing to borrow extra funds using leverage to augment the impact of their positions.
The exchange features almost 20 cryptocurrencies, which lets users increase profit on the most promising digital asset. They can also estimate potential profit by tracking future price moves.
Nexo limits risk for novice users by only allowing leverage of up to 3x because retail clients are more likely to give in to FOMO than experienced traders. On some professional platforms, leverage can go up to as much as 125x.
This sustainable product was created with those people in mind, who believe in long-term digital asset potential.
The exchange sustains its commitment to its unique business model. It never provides loans without collateral because only full collateralization can give the lender and the borrower assurance.
Easy portfolio diversification
Nexo Booster respects security, utility, and other core Nexo values. If used reasonably, it can help community members increase their profit as well as diversify their portfolios without investing (and risking) more capital.
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