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Everyone has heard the quotes from Warren Buffett about making money while sleeping being the key to wealth. While passive investing is always a wise strategy, as the Oracle of Omaha suggests, actively trading is undoubtedly more exhilarating and potentially profitable.
Even Buffett himself trades in addition to focusing on assets that generate passive income. When it comes to cryptocurrencies, the potential for profits using both methods is practically endless, although the risks are also significantly increased because of the market’s overly volatile nature.
PrimeXBT has devised a suite of different tools that are intended to empower traders to handcraft specific strategies designed to cater to their trading and investing styles.
Access Active Trading Tools
PrimeXBT is a multi-asset margin trading platform acting as an all-in-one solution for active and passive investing. A variety of cryptocurrency-based products and services are offered under one roof. The platform is easy to use and packed with powerful tools.
Active traders get access to leveraged long and short positions, stop-loss protection, built-in charting tools, and more to make a profit from whichever direction the trend turns next — with no waiting for market recoveries in between. These traders can take advantage of uptrends, downtrends, and sideways trading ranges across any timeframe. However, it’s worth noting that high leverage also exponentially increases the risk of liquidation, and it should only be used by traders with sufficient market experience and not by beginners seeking disproportional returns.
Experienced traders with high activity and a considerable following can earn a higher income by becoming a strategy manager using the Covesting copy trading module. Strategy managers make a profit share from followers on the platform who copy their trades. There is also the option to make a commission from any referred users brought to the platform for the first time who sign up.
Put Passive Investing To Work
On the passive side of the equation, Covesting copy traders can follow top-ranked strategy managers and earn a profit each time these traders close a profitable trade. There is only minimal activity required, with followers managing their portfolios of who they follow or setting max drawdown levels for safety reasons.
With minimal effort or time required, followers can make money. By utilizing COV token memberships, followers can also improve their profit share to make even more money from successfully copied trades. Upgraded COV token memberships come in Advanced, Premium, and Elite tiers, and in addition to unlocking benefits via the Covesting copy trading module, it also provides up to a 2x APY boost using Covesting yield accounts.
Covesting yield accounts are the passive investing solution. They connect to top DeFi platforms from within the PrimeXBT account dashboard, enabling users the ability to stake idle crypto assets in exchange for a variable APY interest rate. Rates reach up to 14% APY during peak market conditions.
Conclusion
PrimeXBT and Covesting are a combination for 24/7 trading and even offer around-the-clock customer service to match. The PrimeXBT smartphone app also lets investors and traders stay connected from anywhere in the world from the tips of their fingers.
The margin trading platform packs in an educational website, weekly trading competition, and much more in addition to the active trading and passive investing options outlined in this article.
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
