In a huge extension to the credit line offerings by Nexo, investors will now be able to leverage their exposure on the Nexo cryptocurrency exchange.
The digital asset institution will introduce collateralised 3x leverage opportunities for more than three million mobile users following years of demand.
All elements of the sprawling Nexo brand will be unified within Nexo Booster – allowing the innovative credit divisions to finally work in tandem with the Nexo wallet digital asset custody service, Nexo’s DeFi yield opportunities, and the cryptocurrency exchange arm of the business.
Nexo Boost tailored to protect retail crypto investors
Touted as Nexo Booster, the product attempts to deliver retail-level users the tools available to professional traders.
For example, when considering leveraged trades, Nexo has incorporated a profit projection feature (enabling the user to monitor the effect of the market’s future moves on their leveraged positions in real time).
In an effort to protect investors from the speculative risks of leveraged futures trading, the Booster leverage will be tied to a collateralisation feature that prevents overleveraged positions from occurring – something that must be addressed as the crypto industry matures.
Read More: You can now buy, hold, and sell cryptocurrency on Coin Rivet
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.