Nexo: Buy Bitcoin & Crypto 4+

My first review of an app

This is my first review of an app. I’m leaving this review because I’ve used this app for several years and the 3.5 star rating it currently has is very misleading. Not sure if these are fake reviews or absurd expectations. I read a one star review because they changed a feature location. Wth, really? Just seemed petty. I look at crypto like my 401k. I plan to buy from every paycheck until retirement. Nexo allows me to save every dollar I earn with an extreme savings rate of 10%. They also allow me to increase my cash flow by self financing all debt. Swapping coins is easy. There is one win planned with the credit card. Very eager for that to come out in the US. The card expands on the ability to us your crypto equity without having to sell any crypto. Which is what makes Nexo a game changer. Regular emails for crypto and Nexo coin developments and actively working to improve corporate relationships and Nexo coin value. All of that said. Nexo is not perfect. Improvements are still needed. They need to create the ability to automate investing on Nexo. Automate recurring deposits and limit orders for crypto orders. Also the chat service on the webpage never works for me. I’ve sent emails and had great dialog. But the chat does nothing. Keep up the good work Nexo team!

No interest notifications for 2/5/21

There are things I like about this new update, but things that I don’t care for, as well. I love the exchange feature. It adds a lot to the app. But I don’t like that it came at the expense of transaction records for staking interest. There is no longer a section devoted to it. Granted, we can get the amounts in the notifications drop down menu in the upper right corner, but it gives out less information than the old version did. Also, as of 2/5/21, I didn’t get any notifications for interest payments, so I can’t update my portfolio records. The best way to fix this is to bring back the Transactions tab at the bottom. Just make all of them a little bit smaller to allow another tab, and run it like you used to. Relying on notifications for interest payments just isn’t the most fool-proof method. Other than that, nice app.

Update (2/9/21):

The new update does not address the problem. It told me that there were 12 updates up top, but when I clicked on it, all I got was a blank list with a message “no new notifications”. All past notifications aren’t showing, along with any new notifications. Please just bring back the Transaction section in some form or another. I don’t think that notifications were ever intended to function as a permanent transaction history log.

Developer Response ,

Hi, thank you for the provided feedback. We will take into consideration every aspect out of it.

Awesome for crypto beginners.

Nexo is similar to vault projects on defi but is simple to use with many features of defi built
In to one app that ultimately builds a credit line u can borrow against, new investors to crypto need to understand the benefits of being able to borrow in times of need while never touching their underlying assets, speak to your tax professional for details but keep in mind that when u sell crypto u pay taxes but when u borrow against it that’s treated as a simple loan. Much better for long term investors who want to build a retirement portfolio with crypto but still be able to tap in to it for financial emergencies or that vacation. Not to mention you can also borrow against your gains to buy more crypto, as a way of taking profit without selling assets until they fully mature. This allows you to multiply your exposure to market movement on the way up with little chance of liquidation due to the ratios of collateral Nexo forces u to maintain, even with the huge dip that happened in the last few months none of my holdings where liquidated and I was able to buy more crypto during the dip and achieve extra profit in this way! I also get free crypto in the form of dividends payments. I love nexo!

Developer Response ,

Hi. Thank you for your kind words and 5-star review. We are deeply appreciative of it. :)