Turbo loans provide the opportunity to multiply your crypto assets by creating a "chain of loans" in one click.
After the user pushes the "TURBOCHARGE" button, our platform automatically uses the borrowed fiat to buy more crypto and then uses this crypto as collateral for the second loan in the chain, which introduces the newly borrowed funds to the same process. The process repeats itself 3-15 times depending on your settings.
You are not supposed to receive the borrowed funds because the Turbo loan aimed to multiply your crypto asset. So technically you buy crypto not with your funds but with the borrowed ones, thus using it as leverage.
You can explore this article and this video manual to understand how Turbocharge loan works:
To use Turbo Loan, visit the Turbocharge section and click the Turbocharge crypto button.
You will see all available tariffs and will be able to customize your Turbo Loan.
You can set the initial collateral amount, LTV, borrowed ticker and set the number of loans that will be a part of the loan chain.
In the lower-left corner, you can see how much additional cryptocurrency you will get with this particular turbo-loan.
After setting all loan parameters click the Turbocharge button.
You can watch your loan in the Turbocharge section of your account.
Please be advised:
The minimum amount for the first loan is 100 USD;
If the price of the Turbocharge loan crypto reaches the Price Down Limit (PDL), the platform is forced to close your loan and sell your collateral to avoid the risk of financial loss. The rest of the borrowed funds remaining from the last loan in a chain (if any) will be returned to your wallet;
If the loan is not repaid before its term expires, the platform will forcibly close your loan and sell your collateral to avoid the risk of financial loss;
All operations will be executed on real crypto exchanges. Hence, the price rate and time of the transactions may vary;
You are not supposed to receive the borrowed funds because the Turbo loan is only aimed to multiply your crypto assets. In order to get the cash with your loan, please use the classic crypto-backed loans;
The max total borrowed amount of the loans may vary.