You are free to allocate the funds from your Nexo Loan towards your specific needs or financial goals. Different borrowers around the world have different demands and preferences for how long they will use the funds from their Nexo loans. As people who have been in the business of lending for over 10 years, we know how important it is for our clients to have access to cash when they need it. That is why we serve both small and large requests so that our clients can pay for day-to-day expenses or take advantage of a good investment opportunity.
Since the minimum loan amount is $50 in stablecoins and $500 in fiat currency and the maximum is $2,000,000, it is clear that you can cover a wide range of costs and/or purchases. You can also use your Nexo Loan for crypto investments by using Tether (USDT) or UCD Coin (USDC) for withdrawals.
Please keep in mind that the interest applied to your loans is compound interest i.e. it is calculated based on both the initial principal and the accumulated interest.