Staking has become one of the most common ways for long-term holders to earn passive income in the DeFi space. Its popularity has further been amplified by the rise of decentralized exchanges (DEXs) and automated market makers (AMMs).
Not only does staking give users control over their assets, but it also offers a better annual percentage yield (APY) compared to the interest rates of a traditional savings account.
But not everyone knows how to interact with DeFi platforms due to certain technical requirements and risks. To solve this problem, PrimeXBT has launched a solution that gives everybody the opportunity to earn from their idle crypto holdings with ease.
What is PrimeXBT?
PrimeXBT is a multi-asset online trading platform that provides users access to a wide range of products, including cryptocurrencies, forex, commodities, and stock indices.
Launched in 2018, the Seychelles-based exchange adopts a customer-centric approach to its operations, offering clients access to over 70 different asset pairings with the essential tools needed to successfully trade these assets.
PrimeXBT’s Covesting Yield Accounts
To ensure that users earn passive income from their idle crypto assets, PrimeXBT recently launched a feature dubbed “Covesting Yield.”
Users can earn a reasonable APY that seeks to compete with that offered by some of the top staking platforms.
The Covesting Yield Account system provides users with a detailed report on the past performance of any staking, including details of all essential metrics like total reward earned, total equity, and many more. These reports allow users to conduct research on their own and decide on which staking to join.
It also informs users about the estimated APY range, enabling them to have a clear view of what the return on their investments will be. Alternatively, it allows users to derive a more specific return rate by using the calculator tool provided by the platform.
The intuitive interface of the PrimeXBT platform allows users to easily navigate their way through the entire process.
They can also bolster their APY rates and unlock several other incentives by staking COV, the platform’s native utility cryptocurrency.
Staking COV tokens can give users access to APY boosts of up to 2x with some added benefits for copy traders, including improved success fees, trading fee discounts, and many more.
Users have the choice of staking some of the top cryptocurrencies and even stablecoins, including ETH, USDT, and USDC.
Combined with some of PrimeXBT’s other features, traders can comfortably earn more from their crypto holdings in any market condition.
Some of the other features of PrimeXBT include:
- High Security
Security is one of the most important features that traders look out for in an online trading platform, and PrimeXBT provides some of the best security measures available.
Some measures used by the platform to protect users include a two-factor authentication system, bcrypt, Cloudflare services, and cold wallet storage.
- 24/7 Customer Support Service
PrimeXBT has a professional customer support system. Users can contact the support team via email or through a live chat that is open 24/7. The platform also has a comprehensive Help Center and frequently asked questions (FAQs) column.
- Advanced Trading Infrastructure
PrimeXBT uses one of the most advanced and reliable trading software available in the market today. The platform’s systems have been designed to minimize latency while increasing order execution speed.