Nebeus adds Avalanche-backed loans
BARCELONA, Spain, May 10, 2022 (GLOBE NEWSWIRE) — via InvestorWire — fog, the cryptocurrency and crypto-backed lending app, is constantly looking for innovative ways to help clients grow and improve their crypto investments. Nebeus users could already buy, sell, trade and exchange Avalanche (AVAX), but now AVAX can be used as collateral for Nebeus crypto-backed loans. This new feature allows users to borrow for their Avalanche investments.
Will a loan covered by Nebeus AVAX:
- Fast Loans are available immediately, pre-approved and straight from the Nebeus treasury and offer a 50% to 0% loan-to-value ratio for three months.
- Flexible loans are tailored to individual needs, allowing customers to borrow up to 80% LTV in FIAT money or crypto up to a maximum of 250,000 and with loan terms from one to 36 months.
In addition, flexible loans are risk-free as they are backed by a 10-day buffer period to take action in the event of margin call and all collateral posted is insured by Lloyd’s of London for up to US$100 million. Best of all, Nebeus users can enable an option called Auto Margin Call Management, which allows Nebeus to automatically manage crypto collateral when a margin call is pending.
Avalanche is extremely adaptable and can power stablecoins and non-fungible tokens. This allows developers to set up private blockchains called “subnets” to validate the transactions (consensus mechanism), offer a safer and more efficient blockchain technology, and contribute to the open-source Avalanche community.
By developing the world’s fastest blockchain, Avalanche aims to change the costly, time-consuming and environmentally harmful characteristics of cryptocurrency transactions. Currently, the Avalanche blockchain can execute 4,500 transactions per second.
Nebeus is a leading European cryptocurrency and crypto-backed lending app and desktop platform that allows users to leverage their crypto investments to get instant loans in FIAT currencies, stablecoins and crypto.
In addition, Nebeus offers an ecosystem of cryptocurrency services that allow users to exchange crypto, earn money from their crypto, and even get $100 million in insurance for their Bitcoin and Ethereum.
Note to the editor
Michael Stroev, COO and Head of Product at Nebeus, is available for interviews or comments.
For press information please contact:
Lucy Colli | Nebeus PR manager
Wire service contact:
Investor Wire (IW)
Los Angeles, California
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bed72537-b114-4fed-837e-183ee238e2f6