Getting Idle Crypto Holdings Working

Getting Idle Crypto Holdings Working

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Staking has become one of the most common ways for long-term holders to earn passive income in the DeFi space. Its popularity was further boosted by the rise of decentralized exchanges (DEXs) and automated market makers (AMM).

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.

However, 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 everyone the opportunity to easily earn from their idle crypto holdings.

What is PrimeXBT?

PrimeXBT is a multi-asset online trading platform that offers users access to a wide range of products including cryptocurrencies, forex, commodities and stock indices.

Founded in 2018, the Seychelles-based exchange takes a customer-centric approach to its operations, offering its customers access to over 70 different investment pairs with the essential tools required to trade these assets successfully.

The PrimeXBT platform

Covesting Yield Accounts from PrimeXBT

To ensure users earn passive income from their idle crypto assets, PrimeXBT recently launched a feature called “Covesting Yield.”

Users can earn a reasonable APY that is said to rival that of some of the best staking platforms.

The Covesting Yield Account system provides users with a detailed report on the historical performance of each stake, including details on all essential metrics such as total reward earned, total capital and much more. These reports allow users to do their own research and decide which staking they want to join.

It also informs users of the estimated APY range so that they have a clear view of the return on their investments. Alternatively, users can derive a more specific response rate using the calculator tool provided by the platform.

The PrimeXBT platform’s intuitive interface allows users to easily navigate the entire process.

They can also increase their APY rates and unlock several other incentives by staking COV, the platform's native cryptocurrency.

Staking COV tokens can give users access to APY boosts of up to 2x with some additional benefits for copy traders including improved performance fees, discounts on trading fees, and much more.

Users have the choice to stake some of the top cryptocurrencies and even stablecoins including ETH, USDT and USDC.

Combined with some of PrimeXBT's other features, traders can conveniently earn more from their crypto holdings in any market situation.

PrimeXBT Features

Some of PrimeXBT's other features include:

Security is one of the most important features traders look for in an online trading platform, and PrimeXBT offers 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 service

PrimeXBT has a professional customer support system. Users can contact the support team via email or 24/7 live chat. The platform also has a comprehensive help center and a frequently asked questions (FAQs) column.

Advanced trading infrastructure

PrimeXBT uses one of the most advanced and reliable trading software available on the market today. The platform's systems are designed to minimize latency while increasing the speed of order execution.