Zumo, a cryptocurrency wallet and payments platform, today released version 2.13 which introduces a new feature that enables users to clearly view and manage their overall crypto assets in a simple and intuitive way. The Zumo ‘Smartfolio’ allows users to simply view their overall crypto asset’s current and historical value and how much gain (or loss) made on them over time.
The Smartfolio tracks the relative position on all of a user’s exchanges and shows them the net position of those trades once price fluctuations have been taken into account.
Users can set the time frame to see how their asset values have changed within 1 day, 1 week, 1 month, 3 months, and all-inclusive timeframes. It is possible to view total assets as a pie graph or as a line graph.
The Zumo Smartfolio further gives insights into possible exchange opportunities that could make a profit. A Smartfolio “score” shows the current position of assets and also how much that could be made from a potential exchange based on when they were purchased.
Zumo uses a weighted average to calculate the Smartfolio score, and the calculation is made by matching buying positions (aka when you bought an asset and at what value) with your sells (when you sold it and at what value), finally calculating the profit or loss from each exchange.
A user’s Smartfolio score is based only on crypto-assets bought or sold via the Zumo exchange. If a user transferred crypto assets from an external wallet into their Zumo account, they are included in the total displayed assets but are not used when calculating the Smartfolio score.
“The Zumo app is going to be packed with more innovative features than you can shake a stick at; as well as soon being able to view and download your entire exchange history and your associated Smartfolio data, you’ll be able to spend cryptocurrency alongside traditional money in everyday situations with the upcoming Zumo debit card. We’re working hard on this and are hoping to launch it for users early in 2021.”
– The Zumo Team
After successfully activating a Zumo account and linking a UK bank account, users have access to three wallets; Bitcoin, Ethereum, and GBP.