Cryptocurrency lending platform, Nexo, has launched an exciting new feature that will attract more users to the platform. The new product, Nexo Booster, brings margin trading capabilities to the platform with users allowed to borrow up to 3X on their deposit. Nexo Booster will be available starting January 17th, 2022 on Nexo App.
With Nexo Booster, more than 3 million users will access the crypto lending market via a mobile platform. In addition, the new feature will bridge the gap that currently exists between the more complex crypto trading platforms and newbies.
The biggest difference it brings to the market is its intuitive user interface, enabling new traders to handle complex trading tools easily. Additionally, Nexo Booster has an in-built system that secures the platform by requiring high collateral. To help users make informed investment decisions, Nexo has a profit projector, which they can use to estimate the potential returns based on market fluctuations.
With the previous Nexo platform, traders borrowed stablecoin loans to purchase more crypto on exchange platforms. After that, they had to transfer their funds back to Nexo. The launch of Nexus Booster brings in new capabilities that eliminate the need to move to external exchanges
The Nexo Booster was built with retail investors in mind. Specifically, it aims to give them access to a larger pool of trading capital. Access to greater capital will be possible through 3X leverage, which will enable them to augment their profit potential. While some may see the leverage as “limiting”, it is essential for ensuring sustainability. Essentially, the aim is to cushion traders from the temptation of taking excessive risks. Therefore, Nexo Booster is ideal for long-term retail investors.
What benefits should users expect?
- By following a strict Loan-to-Value ratio of 70%, Nexo ensures that there’s adequate collateral. This is important for the platform’s sustainability and ensuring that there’s an adequate and secure asset pool.
- It supports more than 20 crypto assets.
- It has market-tracking tools which enable traders to project the potential returns from different market scenarios.
- Its user-friendly and resourceful interface ensures that users can easily navigate and borrow from the platform.
- It has a high threshold on the maximum allowable single transaction, set at $250,000.
- In addition, it supports borrowing up to thrice the value of a position.
- Nexo guarantees up to 0.5% cashback on the value of a transaction to borrowers.
- It protects traders from the risks of leverage trading by limiting it to 3X the margin size.
About Nexo Booster
Nexo is a leading cryptocurrency lending platform, which is regulated by several US states and other countries. It has a user base of over 3 million across more than 200 countries. Its popular products include an instant exchange service, which integrates with its crypto credit lines. Additionally, Nexo offers a high-yielding crypto interest suite.