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Submission: On January 22 via api from FI — Scanned from FI
Effective URL: https://boost-nexo.com/
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Submission: On January 22 via api from FI — Scanned from FI
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NEXO BOOSTER
GROW YOUR DOTSOLAVAXFTMNEARADA BTCETH
UP TO 3X
LEVERAGE YOUR CRYPTO HOLDINGS TO BORROW MORE FUNDS AND GROW YOUR POSITION IN A
GIVEN ASSET UP TO 3 TIMES. ALL IN A FEW EASY CLICKS.
Boost Now
Trusted by
6M+ people
Insurance on custodial assets by
Operating securely since
WHY USE THE NEXO BOOSTER
TAKE ADVANTAGE OF UPWARD MARKET TRENDS WITHOUT THE HASSLE.
BUY MORE WITH LESS
Use your current holdings and buy up to 3 times more of your favorite digital
assets by financing the acquisition through a crypto-backed credit.
SAVE YOURSELF THE EXTRA EFFORT
Rather than going through multiple manual actions, the Nexo Booster saves you
time by automatically executing a borrow and exchange transaction all in one go.
REPAY ON YOUR OWN SCHEDULE
The Nexo Booster is powered by our Instant Crypto Credit Lines, meaning you can
pay off your balance partially or fully when you want with no fixed payment
schedule.
HOW IT WORKS
Navigate to the Exchange tab on the Nexo platform or app and select “Booster”.
1
Select Currency Pair
Choose the “Pay with” currency that you want to leverage against, and your
“Receive” currency – the asset you want to buy.
2
Choose Leverage
Drag the Leverage bar to the factor to which you wish to boost your existing
assets – from 1.5x up to 3x.
3
Complete the Boost
Tap “Exchange” and you’re done. The newly-acquired assets will be added to your
Credit Line Wallet as collateral for your boost.
4
Take Profits
If the value of your boosted assets grows, you may choose to repay your
outstanding credit and realize the profits – you can do so by tapping “Repay” on
your Dashboard.
WHEN TO BOOST
LEARN WHEN MIGHT BE THE BEST TIME TO USE THE NEXO BOOSTER.
Boost to Catch the Bulls
Boost to Catch the Bulls
We all know the feeling – the market takes off, and you can just feel in your
bones that it’s going to keep climbing, but don’t have the starting capital to
make as big an investment as you’d like. That’s where the Nexo Booster has your
back. Get up to 3x the funds you start with, so you can catch up to the herd of
bulls and make your move count!
Boost to Buy the Dip
Boost to Buy the Dip
Dips are the favorite buying moments for most traders, but using the funds you
already have or borrowing against just 20-50% of the value of your crypto isn’t
always enough, especially when the market hits rock bottom. So if you’re looking
to bump up your gains from buying the dip, the Nexo Booster is an efficient way
to do so!
FAQS
All your questions about the Nexo Booster answered.
WHAT IS THE NEXO BOOSTER AND HOW DOES IT WORK?
The Nexo Booster offers a quick and user-friendly way to execute leveraged
crypto purchases on the Nexo Exchange with up to $250,000 per single booster
transaction – with no limit on the number of transactions you could make.
In effect, Nexo uses your existing crypto holdings, or such converted into your
selected “Receive currency”, plus the newly-acquired asset as collateral to give
a crypto-backed credit to finance the acquisition.
You can execute a booster using a single asset or different assets.
Boosts with a single asset
Boost a cryptocurrency from 1.5x to 3x its value and receive the boosted
equivalent in the same asset. Example: Boost BTC and get more BTC.
Boosts with two assets
Boost a cryptocurrency from 1.5x to 3x its value and receive the boosted
equivalent in the new cryptocurrency. Example: Boost BTC to get ETH.
The whole Booster flow is intuitive and user-friendly. All you have to do to
boost your assets is:
1. Open the Nexo app or web platform, click on the Exchange tab and choose the
‘Booster’ option.
2. Select the currency you want to leverage against, the leverage percentage
(from 1.5x up to 3x) and the asset you want to acquire.
3. Click on “Profit Projection” – a handy tool that lets you see your potential
earnings by projecting possible price movements of your boosted asset.
4. Tap “Exchange” and you’re done. The newly-acquired assets will be added to
your Credit Line Wallet as collateral for your booster transaction.
5. Once you repay the outstanding crypto credit, you get to retain the
difference between the sale price of the assets you borrowed and your
original investment.
Note: You can use crypto, stablecoins, USDx, EURx, and GBPx for the “Pay with”
currency, but you cannot select any fiat or stablecoins for your “Receive”
currency. The NEXO Token is excluded from the Nexo Booster altogether – you
cannot pay with or receive NEXO.
Fees for the Nexo Booster are factored into your outstanding credit and
constitute a percentage of the value of the additional assets we purchase in
your name. There are three different fee tiers based on your Credit Line LTV
after your booster transaction:
* Up to 50% LTV: 1% Booster fee
* 50-60% LTV: 2% Booster fee
* 60-70% LTV: 3% Booster fee
Keep in mind that you can use the Nexo Booster even if your Credit Line LTV is
above 70% – for example if you've taken out a crypto credit in stablecoins with
90% LTV.
Example
Let's say you want to boost $1,000 worth of Ethereum and you want to purchase
more ETH. This is a single asset boost but the same principles from this example
apply to dual asset boosts with the difference that the asset you receive will
be different than the one you start off with and there is one extra exchange
transaction in the background of your boost.
In this example, let’s say you want to boost your 1,000 USD worth of ETH to the
factor of 2. Here’s a breakdown of what you’d get after finalizing your boost:
* Initial assets: $1,000 in ETH
* Outstanding credit: $1019.99 (the extra $1,000 for the 2x boost, plus a 2%
fee)
* Loan-to-value: ~ 51%
* Assets Collateralized from the Boost: $2,000 in ETH*
So post-boosting, you end up with $2,000 in Ethereum collateralized in your
Credit Line Wallet and a credit of $1019.99 to pay off – this last sum is what
you’ll accrue interest on. You can then repay the credit once ETH reaches your
price target and benefit from the price growth.
Note: Needless to say, the market never moves in a single direction. Similarly,
as a leverage product, the Nexo Booster can work in both ways – it amplifies
your gains when the chosen asset appreciates, yet magnifies the losses when
prices fall. In order to make an educated decision, you need to have a thorough
understanding of how the loan-to-value (LTV) ratio and price-based margin calls
and liquidations work. For further details visit our Help Center.
DO I ACCRUE INTEREST ON MY BOOSTER TRANSACTION?
Since the assets from the Nexo Booster are collateralized in a Nexo credit line,
the outstanding amount accrues interest just like any other credit on our
platform. Your interest rate depends on your Loyalty tier and can be as low as
0% if you’re a Platinum user and your LTV is below or equal to 20%.
You also get charged a one-off Booster fee that can range from 1-3% and depends
on the LTV of your booster transaction:
* Up to 50% LTV: 1% Booster fee
* 50-60% LTV: 2% Booster fee
* 60-70% LTV: 3% Booster fee
The Booster LTV is calculated as the ratio between your outstanding credit and
the value of the collateral used for the transaction.
Note: If you have a pre-existing credit line, you will accrue interest on the
total amount of your previous credit and booster credit together.
WHAT IF I BOOST WHILE HAVING A PRE-EXISTING CREDIT LINE?
If you’re already borrowing using our Instant Crypto Credit Lines, nothing
impedes you from using the Nexo Booster. There are only two differences:
1. First, your pre-existing loan-to-value ratio will merge with the LTV from
your booster transaction into a single LTV marker. Whether the new ratio
will be higher or lower depends on the size of your previous outstanding
credit and what its current LTV is.
2. Secondly, you will accrue interest on the total sum borrowed for your
booster-acquired assets and your pre-existing crypto credit.
WHAT IF THE VALUE OF MY BOOSTER COLLATERAL CHANGES?
Let’s consider the two possible scenarios – if the price of your collateral
appreciates or depreciates.
Having an open boosted position while your crypto’s price goes up
First of all, if this happens – congratulations! Depending on how much the value
of the collateral from your booster transaction has gone up, you may be thinking
about taking profits and closing your position.
In this case, all you have to do is repay your outstanding credit – you can do
this with assets from your Savings Wallet, or by ordering Nexo to repay the
crypto credit with part of your collateral. With your assets appreciating in
value, this will only be a portion of your booster-acquired crypto, the rest is
your profit.
Having an open boosted position while your crypto’s price goes down
As with any leveraged position, if the value of your coins drops, you’re exposed
to potential losses. What essentially happens is you still owe Nexo the same
amount you borrowed, but your collateral is losing value – meaning your
loan-to-value (LTV) ratio is increasing.
You will receive a minimum of three margin calls (via email) when the LTV
increases to 71.4%, 74.1%, and 76.9%. If the value of your collateral continues
to drop and your LTV reaches the 83.33% mark, the Nexo blockchain oracle may
initiate partial automatic repayments to rebalance the loan-to-value ratio back
within limits. The blockchain oracle will sell as little as possible, so you
retain as much of your crypto as possible.
To avoid this scenario, top up more assets and enable our Automatic Collateral
Transfer feature, allowing the Nexo blockchain oracle to automatically transfer
a small portion of your assets from the Savings Wallet to the Credit Line
Wallet, thus keeping your credit line health in check.
HOW TO REPAY MY BOOST AND COLLECT THE GENERATED PROFIT?
To sell the crypto you received through a booster transaction, you will first
have to repay your outstanding credit. You can do this by tapping the “Repay”
button on your Dashboard.
If you didn’t have an open credit line before you used the Nexo Booster, you
would have to repay all your credit to make all the assets from your boost
available for selling.
If you had outstanding credit before using the Booster, you only have to repay
the amount that was used for your boost, plus any accrued interest to free up
those assets.
Of course, our Instant Crypto Credit Lines are super flexible, so you can pay
off parts of your outstanding credit and unlock your booster assets in parts as
is most convenient for you.
Can't see your question answered above?
Visit our Help Center
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