Exchanges

Nexo Booster delivers 3x leverage to exchange retail customers

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

Sam Cooling

London-based crypto journalist Sam Cooling studied at the London School of Economics (LSE) before working as a Data Technology Consultant for the Fairtrade Foundation. Coin Rivet combines his passion for technology writing with his zeal for the Decentralised Finance revolution. Sam loves providing daily regulatory and alt coin coverage. Outside of the crypto world Sam loves boxing, and spends his time working with NGOs in Zambia.

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