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There isn’t such a feature although it is is planned.
At the minute the 128-bit files are upgraded to 256-bit when they’re next accessed.
A quick workaround would be to find all .AXX files and open them simultaneously. AxCrypt would then upgrade them to 256-bit when the file is next closed.
In a similar vain, if you start with a premium trial then your files are encrypted with 256-bit encryption but are downgraded to 128-bit when they’re next accessed (after the trial ends).