Turmoil, upheaval and instability — words often used to describe current market conditions. There appears to be no ceasefire in sight for the war between Russia and Ukraine, prices of commodities have skyrocketed, and volatile assets, including cryptocurrencies, are feeling the effects of this uncertainty.
The current sentiment in the cryptocurrency market is one filled with shaky trepidation, but is such an environment only suited for seasoned traders who can stoically endure the risks? Not necessarily.
While the notion of turning to cryptocurrencies as a form of financial stability may appear far-fetched to some due to their reputation for extreme volatility, there exists a multitude of readily available crypto products and services tailored toward investors who prefer to seek stability and avoid risks.
Enter cryptocurrency deposit products: designed specially for investors looking to gain guaranteed income even during uncertain market conditions.
Prime Earn your way to risk-free profit
Despite having their roots in China, the majority of cryptocurrency exchanges have been prompted to globalize and draw investors worldwide since the Chinese government’s ban on cryptocurrency trading and mining. Cryptocurrency exchanges worldwide are now seeking to attract investors with wide arrays of product types catering to different risk profiles; such competition can only mean good news for the end-user.
Huobi Global, a world-leading cryptocurrency exchange established in 2013, is no exception and is, in fact, upping the ante in the crypto fixed-deposit market. Prime Earn, its fixed-deposit product that allows participants to stake mainstream assets for a fixed period in exchange for guaranteed returns, has received an overwhelming reception from investors due to several factors that set it apart from other industry players.
High annual percentage yields (APYs) has been the hallmark of Prime Earn offerings since the event’s maiden launch in December 2021, incentivizing crypto investors keen on gaining risk-free returns by holding onto their assets for longer periods of time.
With Huobi Prime Earn, investors stand to gain up to 20% APY for staking mainstream crypto assets such as Bitcoin (BTC), Ether (ETH) and Tether (USDT) for 14 days, with no cap on the amount deposited, making it an attractive and viable option for investors holding onto large amounts of assets who seek stable and guaranteed yields.
The 20% APY offered for USDT deposits is the highest in the market today, while the 15% APY offered for ETH deposits is also one of the highest available, deeming Prime Earn an attractive proposal in today’s competitive marketplace. Huobi Global’s rationale for offering such high APY is simple — crypto investments should cater to investors across all risk profiles, and Prime Earn, with its guaranteed returns, is an ideal gateway for users who are just starting their crypto journeys.
In comparison, competing deposit products offered by larger crypto exchanges are hardly as attractive. Most competitors offer APYs no higher than 7% for mainstream assets — APYs offered for USDT deposits typically range between 3-7%, while APYs offered for ETH deposits range from 1-5%. BTC deposits usually bring in APYs of just 0.66-1%, in comparison to the 5% offered by Huobi Prime Earn.
The attractive APYs offered by PrimeEarn have not gone unnoticed and have instead prompted action from other exchanges.
For example, the world’s current largest cryptocurrency exchange, Binance, now offers a maximum APY of 10% — up from 7% previously — for USDT flexible deposits, in addition to other caveats. Binance Earn’s highest-offered APY of 10% can only be attained on the first 2,000 USDT deposited, and tiered APY, at much lower rates, follows for any remaining sums deposited. Binance also seldom launches fixed-deposit products for mainstream assets.
The more, the merrier
Given such attractive APYs, it’s little wonder PrimeEarn events are often sold out within a short period from the time of launch — and Huobi’s offerings are only getting sweeter.
Starting today, users can look forward to participating in a Prime Earn promotion weekly. Dubbed Prime Earn High-Yield Tuesday, the promotion aims to incentivize participants to rally their friends to take part in the exciting world of cryptocurrency.
Every Tuesday, users can team up with others to deposit USDT and ETH to attain high APYs. Teams will be ranked and rewarded with APY boosts based on the cumulative amount deposited, and top teams will see their APYs increase to 20% for USDT deposits and 15% for ETH deposits.
The world of cryptocurrency is hardly as daunting or complicated as some imagine it to be. With Prime Earn High-Yield Tuesday, users simply need to know that the more they deposit, the more returns they receive.
Current volatile market conditions mean more high-yield fixed deposit products will likely find their way into the crypto marketplace, and users are well-poised to be at the receiving end of such offerings as they explore the crypto world.
The second Prime Earn High-yield Tuesday is just around the corner, and every user who anticipates a higher APY for depositing mainstream assets, coupled with engaging event gameplay elements, can participate to enjoy high returns. To learn more about how to participate in Huobi Prime Earn High-Yield Tuesday, visit here.
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Source: Coin Telegraph