PrimeXBT to Offer Staking-as-a-Service Product

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Early on, while the internet was still young and rapidly growing, companies aggressively sprinted to each develop their own proprietary technologies. Only the strongest survived. Those that did, tend to now share their winning-formula technology with the rest of the world. It’s led to a whole world of software-as-a-service, or SaaS for short.

A new type of SaaS is on the way from one of the brightest minds in the space, bringing crypto-staking-as-a-service to PrimeXBT for the very first time. The new product will be called Covesting Yield Accounts, developed in partnership with a DLT-licensed software dev from Europe named Covesting.

PrimeXBT first partnered with Covesting for the company’s exclusive copy trading technology, but the latest advancement in PrimeXBT’s account system will introduce effortless and straightforward access to staking – letting users generate an APY on any crypto assets stored on the trading platform’s infrastructure.

Here’s What Covesting Yield Accounts Have To Offer

The all-new staking solution on PrimeXBT called Covesting Yield Accounts are coming in Q3 2021, according to individual blog posts both shared by PrimeXBT and Covesting. PrimeXBT’s blog post focused on introducing the new account system and highlighting key benefits.

For example, Covesting Yield Accounts will allow users of the award-winning trading platform to tap into some of the highest rates offered across the most popular DeFi platforms, such as Uniswap. Without having to jump through hoops or connect wallets to liquidity pools and other complicated tasks, PrimeXBT users will be able to – in just a few clicks – generate an APY on any crypto assets offered by the platform.

A recent PrimeXBT V2.0 upgrade enabled support for ETH, USDT, and USDC in addition to BTC-based margin accounts. These assets and more will be included in Covesting Yield Accounts. In addition, the COV token will enhance the new module for all users, offering up to a 2x boost on APY.

Staking COV Tokens Unlocks Unrivaled APY

The COV utility token unlocks all kinds of powerful features on the Covesting copy trading module and will also do so when Covesting Yield Accounts go live later this year. Covesting revealed how these updates would improve Covesting Yield accounts and more in a recent blog post.

Covesting aims to make the COV token a central focus when developing any products or modules to ensure the growth of the overall COV ecosystem and an even stronger value proposition for long-term token holders.

COV token holders will be able to stake COV tokens, locking them up to enable three different account levels. Advanced, Premium, and Elite accounts each include unique attributes added depending on the amount of COV tokens locked up.

Staking tokens doesn’t only provide trading discounts or increase follower counts; it also supplies up to a 2x boost toward the staking of other crypto assets through Covesting Yield Accounts.

How PrimeXBT And Covesting Are Changing The Game For DeFi

Generating an APY on crypto assets is just one of the most popular ways DeFi is changing finance for the better. APYs offered are much better than that of traditional savings accounts and are much more inclusive. There are no credit checks, and crypto assets can be withdrawn at any time, offering the most possible flexibility.

DeFi as a sector of the cryptocurrency industry has exploded in growth, usage, total value locked, and all other metrics. Things would have advanced even further if leveraging the protocols was more manageable and less intimidating, or perhaps not as overly technical.

That’s why Covesting Yield Accounts on PrimeXBT could end up being the next big thing in crypto, as new users seek more accessible ways of doing things.

PrimeXBT Adds DeFi, Staking, And Yields To Award-Winning Product Lineup

 By opening up the most popular DeFi opportunities around to all and making it simple to get involved with, PrimeXBT truly becomes a one-stop shop for all types of cryptocurrency products and services.

The Covesting Yield Account module is scheduled for release later in Q3 2021, further taking advantage of the newly introduced COV token utility enhancements. Combined, these powerful Covesting tools will help PrimeXBT to tap into a new audience and continue its path of global growth and finance industry dominance.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.