I read an article from @andrianlover with the title, Before you swap BCH into food: read this. He is wondering if there is another wallet that gives interest for crypto assets that we hold.
For all the years that I have been earning crypto from a writing platform, everything has been turning into food. I do not have extra to save or to buy more.
He said that if I have $1000 from @MarcDeMesel what would I do?
Well firstly, I am not going to dream about it because I found that I am not in his league and it will be impossible for me. (No offence)
Yet, I agree with his ideas. Though I do not have much earlier this year when I know about Nexo wallet, I have been starting to save my earnings from my other account.
Above is my BCH savings in Nexo wallet and the interest that I have earned from January 2021 until now. Now that I have traded some of my BCH for ETH and then use it to buy Nexo token, my earning interest rate increase to 5% as I have reached the platinum level.
The previous rate was only 4%. There is also a fixed-term deposit where I can hold my BCH and earn a little bit more.
The interest is higher with a Fixed-term deposit. This is my first time trying therefore I am holding it for a month first and see how it goes.
As I understand, now I am earning about 11% of the interest from my BCH saving. If I choose to earn in-kind I will get another 2% extra which I will get in terms of Nexo token. This token can be exchanged into BTC and ETH within the wallet. There is no option to exchange it with BCH directly for now but I hope there will be in the future.
Have I mentioned that it will be a daily interest?
It is a kind of motivation to hold more BCH watching the interest earned daily. Do not forget that there is still the term deposit interest which is also earned daily as long a the term is active.
My only regret is that I did not put my savings into the fixed term deposit earlier when the price is still higher than now. Well, I am still learning and I am going to become better someday.
That is it for my journey with Nexo wallet.
There is more to Nexo but I am going to stick with this current plan. I will play safely first until I am confident enough to make another mistake.
This is better. There is another solution that is useful for readers. I like it.