Knowledge is power, which is why we aim to arm our audience with education on the most important trending assets and topics across the cryptocurrency market. The subject of top-performing altcoins and the industry’s most advanced trading platform have come together in the latest story making headlines: PrimeXBT has listed ADA, SOL, DOT, LINK, UNI, DOGE, and XRP.
Here is everything you need to know about the big update from the award-winning margin trading platform and an abbreviated encyclopedia of the altcoins that made the cut.
Ongoing Positive News For PrimeXBT During Crypto Bull Market
PrimeXBT is back in the news yet again. The ongoing flurry of newsworthy launches has been going on since the platform’s V2.0 upgrade, which saw the introduction of ETH, USDT, and USDC in addition to BTC as margin account currencies. The entire trading infrastructure and user interface received a complete overhaul to support the new currencies.
The update also brought with it a new reporting section for accounting and tax purposes and debuted a new main section that provides a bird’s eye view of everything going on across all PrimeXBT and Covesting accounts. Deposits and withdrawals can also be made here.
After that, COV token staking went live, offering three different upgraded membership options, each with an increasing level of benefits Covesting strategy managers and followers can unlock. Premium, Advanced, and Elite accounts can be activated by staking a certain number of COV tokens.
Strategy managers can get up to a 30% trading fee discount, while followers can get up to a 5% profit share, unlimited followers, and much more. COV token staking locks up tokens from the coin’s circulating supply, which in addition to token burns create some of the most fundamentally strong tokenomics.
Following an increase of new interest in Covesting copy trading post-launch of COV staking, a new strategy manager made media headlines for bringing followers more than a million dollars in a matter of months after registering as a Covesting strategy manager.
PrimeXBT Makes Media Headlines Again, Lists New Altcoins
The company, known for its massive list of trading assets all under one roof, has just announced that that list has become even more extensive with the addition of seven new altcoins. Top-performing crypto assets Cardano (ADA), Solana (SOL), Polkadot (DOT), Chainlink (LINK), Uniswap (UNI), Dogecoin (DOGE), and XRP (XRP) are now offered. These altcoins make up some of the most respected and largest cryptocurrencies by market cap, alongside the likes of Bitcoin, Ethereum, and Litecoin.
PrimeXBT also offers unrivaled portfolio diversification by listing all of these digital assets next to traditional assets like forex currencies, commodities, stock indices, and metals. This means that all with one account, a user can go long or go short on synthetic contracts for Bitcoin, gold, oil, the S&P 500, and others. More than 60 different trading pairs are offered in total.
All altcoins listed are available with 1:20 leverage on BTC, ETH, USDT, and USDC margin accounts, while Covesting strategy manager accounts are restricted to 1:10 leverage for follower safety. Followers should also check out the newly updated margin allocation chart to understand how a trader manages the risk associated with their positions.
Covesting strategy managers and followers can both benefit from the added ROI and opportunity possible through the newly listed altcoins, many of which have seen rallies in 2021, clocking in at more than 10,000% in total profits.
What You Need To Know About The Seven New Altcoins
But what exactly are these crypto assets that PrimeXBT has included next to some of the world’s most respected assets such as forex, gold, or natural gas? Cardano and Solana are both considered Ethereum killers and can support DeFi and NFTs just like ETH. Polkadot connects other blockchains together and helps make a more interoperable cryptocurrency community. Chainlink provides tamper-proof data feeds to DeFi projects and other dapps. Dogecoin is the popular meme coin backed by Elon Musk. UNI is the governance token to the Uniswap protocol, which lets users vote on protocol changes. XRP is a legacy cryptocurrency commonly referred to as Ripple. This cryptocurrency isn’t new but recently has seen a resurgence.
Now that crypto has become mainstream; these altcoins join Bitcoin and Ethereum in the portfolios of novices, professionals, and even institutional traders.
Access Advanced Trading Tools With PrimeXBT
Whether you are trading S&P 500 on PrimeXBT or one of the many new altcoins just listed recently, novices and professionals alike can access all the tools they need to get the job done. All of the assets can be managed with just one account under just one roof. A fully personalized experience is available through a dedicated account manager, and the user interface itself can be customized and tailored to a trader’s liking.
With technical analysis charting tools from TradingView offered for free, traders never have to leave the platform at all or need to juggle multiple monitors. However, PrimeXBT offers that too should a trader choose. If traders do need to be on the go, there is a free mobile smartphone app for Android and iOS devices.
24/7 live customer service is always available, and a company blog is packed with tips and guides on how to get the most out of markets. When all else fails, there is also the Covesting copy trading module, which lets novices sit back and profit from other traders who show success in the fully transparent global leaderboard system.
In the future, PrimeXBT and Covesting will release Covesting Yield Accounts, which will provide a low-risk way to access passive income through a variable APY. The tool connects users to top DeFi protocols like Uniswap right from within the PrimeXBT account dashboard, making up to 35% APY rates more effortless than ever before. According to a company spokesperson with knowledge of the topic, the debut is set for just “several weeks,” so keep a lookout at the PrimeXBT blog for when the launch day is here.