Active investing and trading takes a lot of time, effort, and sometimes stress. Peace of mind comes easiest through passive investing. Ask any person what true wealth means, and they will encourage you to buy assets that generate passive income. The goal is to earn enough passive income to pay off your expenses and debts and truly be able to achieve financial freedom.
With Covesting yield accounts on PrimeXBT, passive investing is easy. Not only is it easy, but it is by far the easiest way to make money on idle crypto assets by connecting to top DeFi protocols. Here is everything you need to know about Covesting yield accounts on PrimeXBT and what they can do for passive investors.
The latest correction across the crypto market is a painful example of how stressful active investing and trading can be. These positions need to be actively managed to profit from market volatility. The only issue is that market volatility is completely unpredictable. No one knows in which direction will it push prices, nor how explosive the movements will be.
Even with a stop loss set, some losses are bound to occur. Not to mention the cost involved related to time and effort spent on position planning, risk management, and technical analysis. The most active traders will often spring and pay for custom technical indicators or trading tools, which only helps to increase win rates ever so slightly.
Why go through all of that when there are alternatives that provide passive income without all that risk and other added responsibilities and costs associated with more active investing? That’s why Covesting yield accounts matter. On the same platform where you can actively trade more than 100 different of today’s most popular trading instruments, you can also earn passive income on idle crypto assets. Here’s how.
The Covesting yield account is an innovative solution that allows crypto holders to access top DeFi protocols from across the crypto industry in just a few clicks, and all without leaving the PrimeXBT dashboard or having to tinker with blockchain wallets or decentralized apps. It connects to DeFi protocols like Yearn Finance, Curve, Balance, and several others.
As a company always on the edge of innovation, PrimeXBT will also connect to more DeFi protocols and CeFi services in the future. By eliminating the challenges and barriers between the everyday user and DeFi, earning a variable interest on idle crypto assets becomes an opportunity there is no excuse to miss.
By staking idle crypto assets using Covesting yield accounts, passive investors can earn up to 14% in variable APY paid out in crypto rewards. APYs fluctuate based on current market conditions, so users must regularly check to ensure the most competitive rates. The tool currently works with ETH, USDT, and USDC.
Covesting yield accounts are a product of the partnership between the award-winning margin trading platform PrimeXBT and Covesting, a fintech software firm from Europe. The collaboration in the past has produced other passive income experiences like the Covesting copy trading module, where followers can make money passively by copying the trades of strategy managers. These strategy managers are ranked by ROI in a global leaderboard system for followers to sort through and select who best fits their risk appetite.
Profitability can be significantly improved in both the Covesting copy trading module and when staking using Covesting yield accounts by activating COV token memberships. The COV utility token is the native utility token to the Covesting ecosystem, making it an integral part of the PrimeXBT and Covesting partnership.
COV token memberships can increase APY within Covesting yield accounts by up to 2x depending on the membership level activated. Strategy managers and followers within the Covesting copy trading community also get a set of account enhancements that increase with each membership level.
PrimeXBT is packed with plenty more opportunities to earn income passively. Beyond these unique opportunities in partnership with Covesting, there is a four-level referral program and an ambassador program where PrimeXBT pays substantial commissions.
Active traders are equally served with the most advanced trading tools around, like long and short positions, leverage, built-in charting tools, and much more. With all the variety, PrimeXBT proves once again that it is an all-in-one solution for all things crypto. Check it out today.
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