Ten New #Appgrades to Get More from Nexo Every Day!
- We bring many long-requested features, including the ability to view a portfolio breakdown, monitor your LTV ratio, and track your total rewards.
- We introduce the Savings Hub and the Credit Hub to help you manage your earnings and credit line.
Designed with you in mind, the latest Nexo #Appgrade is the biggest one yet. It has been in the works for the past year with a well-defined end goal – to help you do so much more every single day.
Here are ten improvements available on the Nexo mobile app.
Dashboard and Portfolio
1. Access all the ways you can add funds even faster
A redesigned dashboard will welcome you every time you open the app. With the new quick-access buttons, you can perform the go-to actions for adding funds, borrowing, and exchanging assets.
Pro Tip: The Markets section on the dashboard shows you the biggest daily price movements. Seeing an opportunity? The new Buy button is the fastest way to get into the action.
2. Get a breakdown of your portfolio and wallets
The market changes every day, so it’s now even easier to reallocate assets depending on your strategy. When you tap on your Portfolio Balance in the dashboard, you get a breakdown of your holdings and how they are distributed between your Credit Line Wallet and Savings Wallet.
There is also quick access to view your crypto rewards or go to the Savings Hub and Credit Hub.
Pro Tip: To improve your loan health, you need to lower your LTV. You can do that by adding more funds via the Buy Assets button in Wallets Breakdown.
3. Track your daily earnings
As your portfolio balance grows, so do your daily earnings. The Savings Hub shows you the interest you’ve accrued and the total balance over which you’re earning. The earned amount is updated every day as you collect more and more daily payouts.
Pro Tip: The options visible below your total earning balance help you adjust your strategy. One such option is Earn in NEXO Tokens if you want to add up to 2% bonus interest on your holdings.
4. Optimize your earnings for every individual asset
For your convenience, your total earning balance in the Savings Hub is divided into FLEX Terms and Fixed Terms. With the dedicated tabs, you can manage them and see how much every asset is earning you.
Pro Tip: Even though with Fixed Terms, you receive your payout at the end of the period, you can see how they are progressing every day. You can enable Automatic Renewal to keep the bonus interest coming after your initial period ends.
5. Get more control over your credit line
You now have all the tools and information you need to optimize your credit line in a single place. When you open the Credit Hub, you’ll be able to see the amount you can borrow. As this amount depends on the value of your assets, a possible upward trend means you will be able to borrow more funds against your crypto.
Pro Tip: The options in the Optimize Your Credit Line section are all about helping you lower your borrowing rate. Upgrade your Loyalty Tier to get close to a zero-cost loan and start collecting cashback with your Nexo Card.
6. Perform daily loan health check-ups
If you’ve already borrowed against your assets, you’ll see the Outstanding Loan tab in the Credit Hub. The first thing you’ll notice is your loan health indicator, determined by your Account LTV – good (below 71.4%), moderate (71.4% to 76.9%), or poor (above 76.9%).
Pro Tip: As the value of the assets in your account changes in real time, these levels might also change. Tap the Account LTV, and you’ll see action steps if you’re approaching the poor loan health indicators.
7. Manage your Loan-to-Value (LTV) ratio
Your Credit Line Wallet LTV shows you how your borrowed amount compares to the assets in your Credit Line Wallet – those that are used as collateral to back your loan and the excess amount that sits idle.
Pro Tip: Keep your Credit Line Wallet LTV below 20% to guarantee you borrow at 1.9% if you’re Gold Tier and 0% if you’re Platinum Tier.
8. Optimize your outstanding loan
Your loan health check-up can give displeasing results if the value of your assets has dropped. Navigate to the Outstanding Loan tab to keep everything in check. Here you have all the options that can adjust your LTV.
Pro Tip 1: Enable Automatic Collateral Transfer and Unlock Fixed Terms to ensure you automatically lower your LTV using the assets in your Savings Wallet.
Pro Tip 2: Earn on the assets in your Credit Line Wallet by making a Collateral Swap for the NEXO Token or Nexo Staked Ethereum (NETH). They are the only two assets that will continue to get you daily payouts even when held as collateral. This is one more way to lower your borrowing rate.
9. See how your rewards grow every day
We’ve now made it easy to keep track of your rewards. Go to the Rewards option available in My Profile, and you’ll be able to see how much you’ve collected from the Nexo Card and the Referral Program.
Pro Tip: Upgrading to Platinum Loyalty Tier will get you the highest rewards – 0.5% back per swap and 2% on Nexo Card purchases.
10. There’s more to come
If you don’t see a feature you’ve requested, don’t worry. Just keep your eyes on the Nexo app every day! You might see something new sooner than you think ;)
All these #Appgrades wouldn’t have been possible if it wasn’t for your feedback on social media and your requests to our Customer Support team. You’ve helped our designers and developers tailor everything according to your needs.
Pro Tip: We urge you to keep sharing your thoughts – we’re all ears and taking notes.