Nexo: Crypto Wealth Platform 4+

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. :)

Lost ETH then found

Sent about 150 worth of ETH over Matic to my Coinbase account because it stated “no fee”. Been waiting now for 2 weeks. I sent a message to customer support within the app about 5 days ago and haven’t heard back. Update: heard back day 6. They told me basically that I’m out of luck. It would have been nice to see a disclaimer next to the “no fee” Matic option “may not work for all receiving wallets, use this option with caution” or something like that. There’s no way anyone would know that it may not work. To me that seems a bit scammy. What if I had transferred 1000 or more? Geez. I’m just chalking it up to a gambling loss at this point at 150 but it’s still a lot for me to lose with no recourse. Because of this I will never recommend nexo.

Update: wow maybe 2 months later I finally got my ETH. I thought for sure it was a goner. Of course the price of crypto has dropped so much since I originally made the transfer that I only have about half of what I originally sent. Updated my rating from 1 star to 3.