Nexo exchange and USDC

Describe the problem:

Hi there Koinly team, Nexo recently added an exchange to its service and I have been doing the following flow: Take out a loan in USDC, then use Nexo’s exchange to convert the USDC to BTC to catch dips.

The problem is that Koinly is not seeing these transactions correctly, and shows that I still have all the USDC I was loaned, inflating my total.

Which exchange/wallet is this regarding?
Nexo

How did you import data into this wallet?
CSV import

What have you tried to fix this so far?
Nothing, no idea how to fix this.

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I think the issue is down to how the transaction is downloaded from Nexo - their CSV is pretty awful and feeds Koinly with not correct data.

Right, but I’d love for Koinly to acknowledge that this is a problem and provide a timeline for fixing it or working around it.

Agree that the data is not the best.

Koinly have said this to me “the NEXO csv file doesnt provide enough info about your exchange transactions so that may be one reason why you are seeing this issue”

It would be preferable for them to find a work around so their system can correctly analyse the data, rather than just saying its an issue.

Nexo csv doesn’t show both halves of an Exchange, so you end up seeing the resulting crypto received amount, in the token that was paid.

IE:
If you exchange 600 USDC for 2 BNB, Koinly shows you got 2 USDC.

My current workaround is to manually add the trade, the soft delete the related 2 USDC transaction.

1 Like