With the growing crypto market, more people are interested in investing. The products and services that they offer must be competitive, simple to use and robust. Active traders and investors must have many options. Passive investors must also be able to access them.
There are three platforms that stand out, which offer multiple ways to use these services. Passive investorsfor traders and investors to make income, without needing to invest as much effort or capital. These platforms can be found here: PrimeXBT, Gate.io and eToro.
Comparative Comparison of Crypto Platforms for Passive Income
This is a comparison of each competitor, with the conclusion of which one reigns supreme.
PrimeXBT
PrimeXBT was one of the first platforms to promote passive investing. It was the first platform to connect its platform with top industry protocols, making DeFi easier after the explosion of DeFi. Users can stake idle cryptocurrency assets to earn variable APYs up to 14% depending on market conditions. PrimeXBT offers COV token membership which increases earnings. Yield accountsUp to 2x
The native cryptocurrency for the Covesting ecosystem is COV token. Users can enjoy several benefits by activating these memberships, such as lower trading fees and increased followings. Covesting Copy trading allows skilled traders to become strategist managers and their performances are tracked in the Covesting global leaderboards. This information is then used by followers to locate a trader that they enjoy, then copy and profit from their trades.
PrimeXBT, a margin trading platform, is designed for strategy managers. It provides professional trading tools such as leverage, long and short positions, and offers strategies the ability to trade with leverage. You can also trade in crypto, forex and commodities as well as stock indices. The Covesting experience in copy trading can result in significant profits within a relatively short time. PrimeXBT offers a lot more than just one feature.
Gate.io
Gate.io, a cryptocurrency exchange, focuses on the purchase of cryptocurrencies such as Bitcoin, Ethereum and Litecoin. They also provide a lot of extra features, just like other platforms. Additional services include a NFT marketplace and data analysis.
There are several options for passive income. Users can use liquidy mining services to provision digital assets and get crypto rewards. One-asset liquidity lending services provides decent returns for any lent assets. Users can also earn decent rewards for participating in Parachain Slot Auctions.
The meat and potatoes of the Gate.io experience for passive investors –– like PrimeXBT –– is more about the copy trading tools. Copy tradingGate.io describes this as the Smart Quantitative Trading system. It boils to traders following a particular strategy template in order to give users precise results. This creates an extremely confusing system, which allows each copy trader to develop a different trading strategy. It basically fills the ecosystem with unworthy duplicates.
eToro
eToro, another trusted platform for crypto trading is also available. Exchange of cryptocurrencyIt offers products and services comparable to the rest. eToro invests a lot of money in its marketing, and pairs with Alec Baldwin for US-focused TV ads.
It is commercialized so the platform’s copy trading feature puts more importance on social networks. Copy trading works on eToro in a similar way to the two other platforms. Users can search for another user based upon performance, and copy their trades. eToro also allows each user to create a soapbox on the platform, so there can be a lot of noise. Many like to learn more about the trader they are putting money behind, but a lot of times, these traders leverage their social skills –– not their trading skills –– to grow their audience.
eToro has a lower number of other services and products than some others. While there is a crypto staking service that provides what they refer to as “generous rates,” the lack of clarity around what this generosity is makes the offer questionable at best. The industry rates show that there are potential returns on investments. But how much?
Conclusion: PrimeXBT Offers the Most Profitable Opportunities
In this comparative review, we aren’t worried about the active trading tools, referral programs, and other areas of interest for users of these platforms. Our focus is on the passive income-generating options that are available to users.
PrimeXBT’s Covesting copy trading module is far more simple than other platforms. PrimeXBT’s ability to create solutions that are both easy and intuitive for beginners and professionals makes it stand out among its rivals. PrimeXBT is the clear leader thanks to Yield accounts that offer up to 14%.
The buzzword of smart quantitative trading, however, is having Social mediaAlthough it might sound appealing to integrate feeds into your copy trading experience, these add-ons can actually hinder profits. With PrimeXBT, you only have to pay attention to the performance of your portfolio – and you can do it from anywhere in the world from a free mobile app for Android and iOS devices.