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