Crypto margin trading platform PrimeXBT adds yield accounts from Covesting
PrimeXBT, a cryptocurrency-based margin trading platform, has unveiled a new yield account service to be integrated into its platform through a partnership with software development partner, Covesting.
The new Covesting Yield Account service on PrimeXBT will enable users to connect to several yield-generating DeFi apps. PrimeXBT will be launching Covesting Yield Accounts in Q3 of this year; which will allow users to generate passive income with any idle crypto assets stored in their PrimeXBT accounts.
Until the official launch, PrimeXBT has opened a waiting list for those who want to take part in this service as soon as it goes live. Those who join the waiting list will receive an extra 1% on top of the standard APY.
“Our Covesting Yield Accounts do all the hard work of searching for staking opportunities so you don’t have to. This means there is no need for a technical background in the space and you can get started with as little as $100. We want this service to be simple, as well as flexible, so you can withdraw your staking amount with interest at any time. There is no lock-up period and funds can be withdrawn once per day meaning after the withdrawal request you will get the full amount plus accrued interest the following day.”
– The PrimeXBT Team
Preview of Covesting Yield Accounts on PrimeXBT. Redemptions are actioned at the end of the 24-hour payout period.
The PrimeXBT platform will provide users with a calculator for estimating yield based on the term, selected asset, and the amount staked. Users will also be able to find out details about a selected stake, such as the historical chart of APY, equity curve, and other relevant metrics.