Working towards my 1BCH, I have finally made the move to upgrade my NEXO Loyalty Level to Platinum. Last month, I have managed upgrade to Silver status after earning and receiving NEXO token every week from my BCH & LTC fixed term. It took me about 3 months of earning for NEXO just to reach Silver and seems I will be likely need to wait for another 3-6 months to reach Platinum.
Not wanting to wait any longer, I transfer some additional BCH funds from my bitcoin.com wallet over. I firstly transferred about $15 USD BCH thinking that I only need so much to convert BCH to USDT. I'm taking the easier way that is to do swapping inside NEXO itself and sacrificing some swapping fees for it. When I tried to do the swapping from BCH to USDT, I was notify that my BCH is not enough and I would need to swap with a minimum of 0.05xx BCH roughly about $30 worth of BCH.
As I can't stop halfway, I transferred another USD$25 worth of BCH to NEXO again. I transfer slightly more so I will not have the issue of not enough balance to swap. Sending funds from bitcoin.com wallet was easy and fast. After my funds were made available in NEXO, I was able to do the swapping to USDT without any issue. Now to swap from USDT to NEXO, a minimum of $15 USDT is required. After this has been approved, I have 8 NEXO tokens which immediately give me Platinum status.
I can now set all my BCH, LTC and the leftover of my USDT to earn back in kind. The NEXO token will be earning interest on it's own. To keep my account status at Platinum status, I would need to maintain my NEXO token at 10% of my total asset. For this purpose, I have put all my available NEXO token into a 3 months fixed term.
I will review this again in 3 months time to see how far this Platinum status has brought me.
You're welcome and to the Platinum club though it is not as fancy as 1 BCH club. Hahaha