PrimeXBT is a global cryptocurrency exchange based in the UK. It fully supports the trading of multiple fiat currencies and digital assets, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, Tether, Monero, Dash and others. PrimeXBT provides a multi-level protection system ensuring the security of user funds through the use of a cold storage wallet and a proprietary PrimeXBT Security Account, while also offering access to professional traders through its innovative CopyTrader feature.
Three weeks after Coinbase’s groundbreaking IPO in the crypto currency industry, news from the crypto space is pouring in. PrimeXBT, a leading cryptocurrency trading platform, has partnered with Covesting, a European software company, to create Covesting Return Accounts.
Covesting return accounts will include the Covesting Copy Trading module on PrimeXBT, which allows traders to bet on crypto assets and use built-in charting tools and more than 50 trading tools.
Here’s an introduction to covesting return accounts and why crypto traders should be interested in them.
What is a coveted return account and how does it work?
Consider opening an income account, similar to a traditional bank account. When you deposit money into a savings account, you authorize the bank to use this money for other financial transactions, for example. B. for investments on bond markets, loans to third parties, etc. In return, you receive interest, although the return is far from attractive.
Accounts with covariate returns work in a similar way. By using this service, you authorize your funds to be used for various transactions on the crypto-currency market and decentralized financial transactions. And you get interest in return.
The difference, however, is that the return is higher than with a savings account. You can choose from four pricing plans – Standard, Advanced, Premium and Elite. The annual percentage yield (APR) for the four plans is 11.48%, 14.35%, 17.22% and 20.96%, respectively. In contrast, the average annual return on a savings account is less than 1%.
Check PrimeXBT now
Simple bets on income co-investment accounts
Bitcoin mining is a well-known way to earn cryptocurrencies without investing money. However, this process requires a lot of resources and is not suitable for everyone. Stacking is a less labor intensive alternative to bitcoin mining. Instead of solving cryptographic equations with high-end computers, you can simply capture existing cryptocurrencies for rewards.
You can store funds in an existing cryptocurrency wallet or in a batching service like PrimeXBT. The funds you hold are used to support the transactions and security of the blockchain network. And you get rewards for keeping your coins in your wallet or on the exchange market.
To better understand how strike works, you need to understand what proof of stake (PoS) is and how it works. We won’t go into detail, but you can read more about the bets here.
We say bets because covestissement’s return accounts allow you to deploy your crypto assets in exchange for an annual return. You can start with as little as $100 and earn income by holding your assets while Covesting handles the verification process.
Check PrimeXBT now
Why would crypto traders use coveted yield accounts?
Although the release of Covesting yield accounts is still a long time coming, many cryptocurrency traders are eagerly awaiting its launch. Several cryptocurrency wallets and exchanges allow you to bet on your assets, but transparency and flexibility are the main factors that make Covesting yield accounts the preferred choice.
To get started, as mentioned above, you only need about a hundred dollars. Instead of locking up your money for long periods of time, you can withdraw your stake at any time. The interest is paid daily. If you choose to cash out, you will receive the full amount of the wager plus accrued interest.
You also have the option to choose the crypto asset and the number of coins you want to wager. The platform shows the percentages you have won and the percentages you are expected to win. Each crypto asset has a separate page with detailed information including annual performance history, stock curve, etc.
How do I start making money?
Once the final product launches later this year, PrimeXBT users will be able to bet on their crypto assets effortlessly. If you are a PrimeXBT user, you should:
How much can you earn?
One of the most important thoughts that comes to mind is how much money you can make. Although there is no set amount, let’s put this into figures. Let’s say you deposit $60,000 for three months, with an average annual return of 11% for the first month, 15% for the second and 12% for the third.
So you earn (60000×11%) x 31/365 = 560 the first month, (60000×15%) x 30/365 = 739 the second month, and (60000×12%) x 31/365 = 611 the third month. In total, you will earn $1,910 USDDC in three months by simply keeping your crypto assets in your account.
However, please note that annual rates fluctuate depending on liquidity and market conditions. Therefore, users should closely monitor and regularly manage the bets to get the best results.
Completion: Lucky bet
When the Covesting performance accounts are released later this year, cryptocurrency investors will be able to use DeFi more easily. Users with limited technical knowledge of blockchain and cryptocurrencies benefit from revenue-generating tools. Moreover, the introduction of another innovative covestment product is likely to further increase the value of the VOC token.