The world of decentralized finance came out of nowhere and rapidly grew into a massive industry with more than $100 billion in total value locked in DeFi protocols at the trend’s peak. Even today, despite the downtrend in cryptocurrencies, the total value locked in DeFi remains at a staggering $50 billion.
The subsector of the cryptocurrency industry is booming with innovation, and with it, profitability. These early concepts and projects are highly volatile, making them an ideal asset to trade on margin using PrimeXBT. Here is a primer on why margin trading popular DeFi tokens on PrimeXBT makes sense and why we recommend the platform for exposure to everything DeFi.
PrimeXBT Provides Exposure To Crypto, DeFi, And Traditional Assets
PrimeXBT is an award-winning margin trading platform offering a wide range of assets under just one roof. More than 100 trading instruments are available across forex currencies, stock indices, commodities, and crypto. If you are looking for a place where you can build a diverse portfolio that includes the S&P 500, gold, oil, and Bitcoin, then look no further.
Nearly half the list is dedicated solely to cryptocurrencies. As mentioned, Bitcoin and other blue chip coins like Ethereum, Litecoin, Solana, and more are included, as well as a plethora of highly volatile altcoins. Several categories across crypto are represented, including GameFi, Metaverse, meme coins, and of course, DeFi.
DeFi tokens include ALGO, ATOM, ADA, AVAX, BNB, DOT, ICP, MATIC, NEAR, SOL, XTZ, and LINK.
Why Trade DeFi Tokens On Margin Using PrimeXBT?
The DeFi industry, while filled with innovation, is in its infancy. Like any youth, there are bound to be growing pains along the way, and the DeFi industry is experiencing struggles due to hacks, scams, and rug pulls galore. Because there is always some saga unfolding, these assets as a whole are more volatile than Bitcoin, Ethereum, and other major cryptocurrencies.
Using PrimeXBT, traders don’t need to own these assets and get caught off guard when volatility strikes. Instead, these traders are armed with an arsenal of powerful trading tools, which include long and short positions, stop-loss orders, and more. Built-in technical analysis tools keep traders at the top of their game, as does the platform’s PrimeXBT Trading Academy educational website.
Traders on the platform are proven profitable, with as much as 5,000% in ROI on the Covesting copy trading global leaderboards.
Covesting Products And Services Generate Passive & DeFi Income
Covesting copy trading is a peer-to-peer copy trading community where traders can margin trade DeFi tokens and more and have their performance tracked for others to see. Other users called followers can copy the trades of strategy managers and profit from the hard work of others.
DeFi is integrated directly into the PrimeXBT dashboard as well through the Covesting yield account system. The tool connects to top DeFi protocols to stake idle crypto assets and earn a variable APY of up to 14%.
APY can be boosted by up to 2x using COV utility token membership. By activating a membership with the COV utility token, special benefits are enabled within the Covesting copy trading module and Covesting yield accounts.
Trade Popular DeFi Tokens On PrimeXBT
Rather than be caught up in the storm when volatility strikes and risk assets like DeFi tokens get decimated, go short with PrimeXBT. When the trend turns back around, and the market realizes the potential of these tokens once again, the reward will be worth going long.
PrimeXBT provides all the tools necessary to protect capital, stay profitable, and build an unstoppable trading portfolio. Best of all, these tools and more than 100 trading instruments are all under just one roof. Try PrimeXBT today.