DeutschThis has led some people to look for ways to earn extra money while this unique opportunity presents itself. This has led to a plethora of content creators, influencers, and online merchants all looking to monetize their time and efforts in some way.
With Covesting’s solutions via the award-winning PrimeXBT trading platform, these same influential personalities, creators, and experienced traders can earn more side income than they ever dreamed of. In addition, even those who don’t quite fall into the above categories can make a fortune by using the same first-class, advanced, and income-generating tools.
Here you will find everything you need to know about how to earn passive income with the various Covesting solutions available today.
Covesting Copy Trading Module: Partially Passive, or Highly Active
On the way to fully passive income opportunities on the award-winning PrimeXBT trading platform, we start with the Covesting Copy Trading Module – a peer-to-peer community that brings strategy managers and followers together under one roof.
Unlike social trading, where users have to blindly trust influencers they find on social media or paid groups, copy trading records the performance of all strategy managers in Covesting’s global leaderboards. This completely transparent performance data can be used by followers around the world to select the strategy managers they want to follow.
The strategy managers are only one half of the equation and must remain very active in order to maintain a high level of overall profits, keep the five stars they have earned in the rating system, and remain visible in the leaderboards. Followers can earn a partial passive income by copying the trades of these more experienced strategy managers who regularly record successes.
These traders know exactly how to trade CFDs on gold, stock indices, forex and more. And they can do the hard work for followers who are willing to risk their capital by following them. Followers are responsible for managing their followers, just as they would with any position, with stop-loss and take-profit tools that they can use. However, followers bypass things like technical analysis and all the stress associated with entering and exiting positions in a live market during trading hours.
The followers earn money when the copied trades are successful, and the strategy managers receive a share of the action to incentivize everyone involved so that the entire system stays in motion. This setup also promotes the viral growth of the ecosystem, as more and more traders share screenshots of their skills and the followers tell others about the money they have earned by copying others. Stories about the total profits of strategy managers range up to 100,000% profit, as reported by several media outlets that managed to take screenshots of the rankings at the time.
Covesting Yield Accounts: Passive Profits from DeFi Protocols
DeFi has made passive income a trend, as users who provide their tokens and coins to protocols are often rewarded with an APY yield that provides liquidity to these services. By locking tokens and staking unused crypto assets, users can access a variable APY of up to 10%.
Instead of having to access DeFi protocols via a third-party blockchain wallet such as Meta Mask or otherwise, users can instead connect directly to these protocols via the PrimeXBT account dashboard, resulting in a much leaner and more user-friendly experience. Eliminating the technical requirements means that more people can access DeFi applications without all the stress.
Rewards are paid out based on a variety of factors such as market volatility, volume, demand and more. These rewards are paid to a secure crypto wallet within the PrimeXBT platform, compounding the profits until staking is stopped. At that point, all staked coins and rewards are returned to the primary account wallet, which can then be used for Covesting Copy Trading, margin trading accounts, and more.
Staking coins with PrimeXBT requires only a few clicks to establish an ongoing connection to DeFi protocols such as Yearn.Finance, Curve, Uniswap and others. Covesting also plans to add more DeFi platforms and CeFi services in the future.
The PrimeXBT Referral Program as the Crowning Glory
All of Covesting’s innovative products and solutions are available exclusively at PrimeXBT as part of an ongoing B2B agreement. Since Covesting is represented at PrimeXBT, Covesting users can also take advantage of PrimeXBT’s four-tier referral program to earn even more passive income.
In the PrimeXBT dashboard there is an individual, personalized referral URL that can be shared with friends, family and followers online. Influencers with a large following or traders who have become strategy managers can earn money with every user they bring to the platform.
For example, if a trader recruits a new user, they receive a commission of 20%. However, if that new user also recruits new users with their own referral code, the first user still receives a share, up to four referral levels and one of the most lucrative referral programs in the financial industry.
Most of what PrimeXBT offers is the best the financial industry has to offer and has already been recognized with several prestigious awards. Personal services are offered through a dedicated account manager, and customer service is available around the clock. But perhaps the biggest selling point that users can promote the platform with is the extensive list of assets.
PrimeXBT offers every user access to a wide range of digital and traditional assets, ranging from foreign exchange currencies, major stock indices, oil, natural gas, gold, silver and, of course, cryptocurrencies of all kinds. The crypto-centric platform also creates new income opportunities that are only possible in the crypto market.
Note: This is a paid article, the advertising company is solely responsible for the content. CoinPro.ch assumes no liability whatsoever for promised services or recommendations.
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