Once again, PrimeXBT is partnering with Europe-based DLT-licensed software firm Covesting to deliver unique and innovative products to the cryptocurrency community at large.
The latest development will be Covesting Yield Accounts, which will live exclusively on PrimeXBT under a white-label licensing agreement.
Covesting Yield Accounts join the Covesting Copy Trading Module on PrimeXBT, as well as many other advanced trading tools designed to bolster profitability in every way.
There are built-in charting tools, long and short positions, over 50 trading instruments, a four-level referral program, and much more. And coming Q3 2021, PrimeXBT will also be home to Covesting’s new yield-generating tool.
First Covesting Partnership Brought Copy Trading To The World
PrimeXBT announced this week that the partnership with Covesting would continue to bring new developments to the award-winning trading infrastructure. PrimeXBT licenses Covesting software, offering it exclusively to traders of the advanced trading platform.
Covesting copy trading was the first module to be introduced in 2020, connecting followers and strategy managers who can now profit together.
Followers search and scour through a massive list of strategies ranked in a fully transparent global leaderboard system, choosing those that best suit their profit goals or risk appetite, and then copy their trades.
Strategy managers earn a portion of any success fees generated by the follower, making it a win-win for all. The peer-to-peer community spread organically through word of mouth and thanks to competition breeding amongst traders.
Top traders have raked in millions and made millions more for their followings.
More skilled traders joining the ranks on Covesting mean that there’s more diversity for followers to access. Followers benefit from not having to do all the technical analysis and footwork themselves.
However, they will want to pay close attention to success and risk metrics – and review each strategy periodically.
New Covesting Module Brings Easy-To-Access APY Through Yield Accounts
The new Covesting Yield Accounts are still a massive benefit to both novices and experts alike. Experts no longer have to juggle many platforms just to access trading, charting, DeFi, and more under one roof.
Newcomers who are intimidated by DeFi applications and connecting wallets can instead access Covesting Yield Account APY with just a few clicks.
Covesting Yield Accounts act as an easy to use and understand interface that leverages popular DeFi protocols, allowing even the most intimidated users to feel comfortable getting involved in staking and generating yields on idle crypto assets.
The new staking module will allow users to lock up any of the crypto assets supported by PrimeXBT. Staking COV utility tokens specifically unlock a variety of additional enhancements across three account tiers – advanced, premium, and elite.
These benefits include discounts on trading fees, increased follower counts, and more, but most importantly, staking COV tokens increases APY by up to 2x for token holders.
Anyone who joins the waitlist within the PrimeXBT account dashboard will get a 1% APY boost when the service launches sometime in Q3 2021.
Anyone interested will want to get registered in advance if they haven’t already done so and keep watch on the Covesting blog for when the module is ready for liftoff.
Summing Up The Covesting Experience On PrimeXBT, COV Token Impact
The addition of COV token utility within the Covesting Yield Account system is another way COV enhances the Covesting ecosystem of products. Covesting also further promotes long-term value for token holders by burning tokens in bulk at regular intervals.
More than 500,000 COV have now been burned and are gone completely from the circulating supply.
COV integrated into new products and services further improves the demand conditions for token holders and adds significantly to the already massive utility and value the token unlocks.
The unprecedented value proposition is precisely why PrimeXBT has once again chosen Covesting to power this new yield-generating tool.
When Covesting Yield Accounts launch later this year in the third quarter, DeFi will become more accessible and easier to use than ever before, the COV token’s value will explode further, and users of PrimeXBT will have another Covesting service to take full advantage of.
Visit the official PrimeXBT blog for more information on the upcoming Covesting Yield Accounts, or join the waitlist today to get an Early Bird APY boost of 1% during the first month after launch.
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