PrimeXBT, a cryptocurrency-based margin trading platform, has unveiled a new yield account service to be integrated into its platform thanks to a partnership with Covesting, a software development partner.
The new Covesting Yield Account service on PrimeXBT will allow users to connect to several DeFi yield-generating applications. PrimeXBT will launch Covesting Yield accounts in the third quarter of this year; which will allow users to generate passive income with all inactive crypto assets stored in their PrimeXBT accounts.
Until the official launch, PrimeXBT has opened a waiting list for those who wish to participate in this service as soon as it goes online. Those who join the waiting list will receive an additional 1% on top of the standard APY.
“Our Covesting Yield accounts do all the hard work to find staking opportunities so you don’t have to. This means that there is no need for technical training in the space and you can start with as little as $ 100. We want this service to be simple and flexible, so that you can withdraw your stake amount with interest at any time. There is no blocking period and funds can be withdrawn once per day, which means that after the withdrawal request you will receive the full amount plus accrued interest the following day. “
– The PrimeXBT team
The PrimeXBT platform will provide users with a calculator to estimate the return based on the term, selected asset and amount staked. Users will also be able to get details about a selected bet, such as the historical APY chart, equity curve and other relevant metrics.