Connect With Passive Income Tools Using Covesting Solutions At PrimeXBT

FinanceFeeds Editorial Team

Crypto winter has profits in the deep freeze, but passive investing can keep crypto holders in the green without worrying about buying, selling, or actively trading at the exact right time. 

Crypto winter has profits in the deep freeze, but passive investing can keep crypto holders in the green without worrying about buying, selling, or actively trading at the exact right time. 

At PrimeXBT, there are plenty of passive investing alternatives outside of the mainstay margin trading tools that the platform is known for. Here are all the ways you can connect with passive investing tools using PrimeXBT.

About The Covesting Ecosystem At PrimeXBT 

At the core of PrimeXBT’s passive investing experiences is the Covesting ecosystem, consisting of the Covesting copy trading module, Covesting yield accounts, and the COV token. 

The Covesting copy trading module is a peer-to-peer copy trading community filled with followers and strategy managers. Covesting yield accounts earn up to 14% APY by staking idle crypto assets. The native COV token unlocks Premium, Advanced, and Elite memberships that increase APY rates by up to 2x, reduce trading fees for strategy managers, increase the profit share for followers, and more.

Yield Accounts Are The Key To Easy Passive Investing

No tool on PrimeXBT is more passive in the way it generates profits than Covesting yield accounts. Covesting yield accounts provide a variable return on interest by staking idle crypto assets. 

All it takes to earn interest on crypto assets is to navigate to the PrimeXBT account dashboard and begin staking by connecting to top DeFi protocols without having to leave the platform. Rates reach up to 14% APY during peak market conditions, and rewards are paid out to the staking balance daily to allow for compound returns.

Covesting Lets Copy Traders Follow The Cash Flow

The Covesting copy trading module is another way to earn income passively. In this case, the copy trading module consists of two types of traders: strategy managers and followers. Strategy managers must be highly active and successful in order to attract followers.

On the other hand, followers can earn passive income by copying the trades of top-ranked strategy managers. Before following a trader, followers must scout the performance of skilled traders within the Covesting leaderboards. The system provides detailed metrics about wins, losses, and total profits.

COV Token Memberships Put More Money In Your Pocket

Profits can be significantly improved for Covesting followers, strategy managers, or yield account stakers. Users can unlock many account-level benefits by activating an Advanced, Premium, or Elite COV token membership. 

Benefits include up to a 20% discount on trading fees, a 20% profit share for followers, and a 2X APY boost in Covesting yield accounts. COV token information and membership levels can be viewed in the MyCOV section of PrimeXBT. 

Revenue-Driving With The PrimeXBT Referral Program

PrimeXBT users can also make additional income without trading by using a unique referral link and sharing it with friends and family. 

Users who bring new users to the platform can earn some of the highest commissions in the finance industry. Commissions reach up to 20% per referral and up to four levels of referrals.

Make Money Passively Or Actively Using PrimeXBT

Passive investing is only a tiny slice of what PrimeXBT has to offer the investing and trading community. The platform is known best for its margin trading tools, long and short positions and more than 100 different instruments across digital and traditional assets.

With PrimeXBT, you never have to sell your crypto assets. They can be used for collateral for margin trading or be put to use in a variety of passive investing tools. Combat crypto winter or any sideways trend by earning income passively using PrimeXBT.

Read this next

Institutional FX

CLS FX volume continues downward trend in August

Total daily traded volume submitted to CLS for settlement took yet another step back in August.

Digital Assets

Huobi taps AstroPay to facilitate fiat-to-crypto payment in Latin America

Huobi, the world’s sixth-largest crypto exchange by trading volume, has recently partnered with payment solution provider AstroPay to launch local currency account deposits and withdrawals in Latin America.

Digital Assets

Crypto exchange FTX to raise $1 billion at flat valuation of $32 billion

FTX is reportedly in discussions with a clutch of heavyweights from traditional finance to raise up to $1 billion in fresh funding to fuel more deal-making.

Digital Assets

Revolut US launches trading on Avalanche, Solana, and Dogecoin

British fintech and banking firm Revolut has further expanded its cryptocurrency offering in the US with the addition of 29 new tokens.

Digital Assets

Bahrain greenlights eazyPay to launch Binance Pay

The Central Bank of Bahrain has blessed a new partnership inked by Binance with Eazy Financial Services ‘eazyPay’, a local POS and online payment service provider. The greenlight enables EazyPayto to launch Bitcoin and cryptocurrency payments in the region.

Digital Assets

Coinbase approved to offer crypto for Dutch users

Nasdaq-listed crypto exchange operator Coinbase has been handed regulatory approval to operate as a crypto service provider in the Netherlands.

Metaverse Gaming NFT

AC Milan partners with Solana-based NFT football game MonkeyLeague

“Partnering with champions like AC Milan, an absolute iconic Club throughout footballs history, is another testament to what we are building and where we are headed as a game and game studio. It also represents a key step in our plans to bridge the Web2 and Web3 worlds.”

Digital Assets

Shariah-compliant Islamic Coin to support SDG-compliant ventures, green projects, and philanthropy

Shariah-compliant Islamic Coin has recently launched a collaboration with the World Green Growth Organization and the International Youth Conference 6, taking place on September 22-25th and September 30th-October 1st, 2022, in New York. 

Market News

Week ahead: US core PCE and eurozone CPI 

We heard from a range of central banks last week and the update sparked big moves in the markets, and the bulk of the volatility was in currencies.