Huobi PrimeEarn offers high APYs for fixed deposits on mainstream assets
Cryptocurrencies based on cryptography have become a popular investment worldwide in recent years due to their decentralized, immutable, and anonymous characteristics. With the increasing frequency at which cryptocurrency transactions are taking place, numerous countries are strengthening regulatory measures in this field, while speeding up the formulation of punitive measures to curb illegal activities such as money laundering and fraud.
The emerging concept of the “metaverse” has once again drawn investor attention to blockchain and cryptocurrencies. As they are neither issued by a legal tender institution nor controlled by the central bank, cryptocurrencies can only be transferred or paid for by their real owner, making transactions possible even in a digital world.
With transactions comes commerce, and commerce results in economic activity, from which the metaverse can emerge and thrive. For individual investors, the original intention of investing in cryptocurrencies might simply be for profit. This article introduces seven popular profit-gaining methods based on different risk appetites. Read below to find out more.
- Deposit plans
The volatility in the crypto world is akin to that of riding a roller coaster, complete with its wild turns, ups, and downs. The wish to avoid the consequences of such volatility has led some investors have tended to favor depositing their crypto assets with exchanges since the early days. Although the overall profits obtained from depositing such assets with exchanges could be lower than that of trading assets directly, users are getting accustomed to depositing their digital assets with deposit schemes offered by exchanges as such products provide stable, guaranteed returns versus letting assets sit idle.
Many cryptocurrency trading platforms have launched various wealth management products in recent years. However, most deposit products offered for mainstream assets are flexible deposits with tiered APYs. At the end of last year, Huobi Global, one of the world’s leading crypto-asset exchanges, introduced PrimeEarn, a crypto-financial management product that focuses on offering high APYs for fixed deposits for mainstream assets. PrimeEarn’s increasing popularity with investors saw all of the products at its most recent event sold out within one minute.
With Huobi PrimeEarn, investors stand to gain up to 40% APY for staking mainstream crypto assets such as BTC, ETH, and USDT for 14 days, with no cap on the amount deposited. The 20% – 40% APY offered for USDT and ETH deposits are the highest in the market today, deeming PrimeEarn an attractive proposal in today’s competitive marketplace.
The PrimeEarn events will be rolling out every Tuesday; users can either team up to win 40% APY for USDT deposits or deposit a certain amount of assets to enjoy up to 20% APY for USDT deposits and 12% APY for ETH deposits.
- Airdrop rewards
Airdropping rewards is a common way for cryptocurrency projects to raise awareness and attract new followers by distributing tokens for free. Rules for airdrops vary among different project parties. Some digital asset exchanges will also give users airdrop rewards to encourage transactions. Investors can follow top exchanges like Huobi Global on Twitter or find information about upcoming airdrops in their Telegram community.
In March this year, Huobi Global introduced CandyDrop, a new program that rewards the Huobi community with a chance to win FREE token airdrops. Users can register for CandyDrop each time their average daily spot trading volume for the three days preceding event registration exceeds 100 USDT. According to data released by Huobi Global, a total of 139,993 people participated in the previous CandyDrop events, which offered a shared 1.23 million USDT prize pool from April 29–to May 5; of these, 65,840 participants successfully obtained airdrop rewards. The events saw an individual user win rewards worth of 925.83 USDT.
- Purchase newly-listed tokens
With the continued development of the cryptocurrency industry, users can enjoy more benefits brought by the ecosystem. At Huobi Global, users can buy newly listed tokens at their listing price without participating in a project’s initial exchange offering. An example of such an offering is PrimeList, a unique token listing platform launched by Huobi Global.
Huobi Primelist provides an easy and convenient way for both institutional and individual investors to access new crypto projects with special price incentives. Most projects listed on PrimeList saw their value increase by up to 20x in record time.
- Hold purchased cryptocurrencies for the long term
Purchasing cryptocurrencies and holding them for the long term is a common profit-making strategy. Before investing in a cryptocurrency project, it is recommended that you carefully study the project to confirm whether it is of high quality or backed by technology that may have a global impact; such factors help you further determine whether the project possesses the potential for appreciation.
Patience and an iron will are recommended for such a strategy – including the ability to stomach and ride out short-term price drops and market volatility.
- Cryptocurrency mining
Cryptocurrency mining requires expensive equipment and results in high electricity bills. You may not be able to make an immediate profit after mining, but you can hold the tokens you have mined for future appreciation in value.
Staking is a type of cryptocurrency “mining” based on the Proof of Stake (PoS) algorithm. Without the need to buy expensive equipment, you could deposit and lock a certain amount of tokens on certain staking platforms to get rewards. Rewards will be distributed based on the amount staked by “miners”.
- Spot and derivatives trading
Trading cryptocurrencies is little different from trading precious metals and stocks. By buying low and selling high, spot trading allows traders to gain profits while bearing certain risks. In a ranging, volatile, or bear market, users can trade derivatives to make profits by judging the market trend.
People who trade derivatives worry most about liquidation. A digital asset derivative exchange under Huobi Global, Huobi Futures stands out for its professional risk control team and has seen zero clawbacks since its launch in December 2018.
Huobi Futures also provides a suite of crypto derivatives products, including USDT-margined and Coin-margined contracts. The platform has listed more than 110 assets for these contracts, covering DeFi, GameFi, NFT, storage, and more. Huobi Futures generated $2.3 trillion in trading volumes last year, accounting for one-fifth of the total crypto derivatives market’s transaction volume.
Disclaimer: This is a paid post and should not be treated as news/advice.