Place/Date: - March 29th, 2022 at 12:07 pm UTC · 3 min read
Source: Huobi Group
Since launching for the first time in December 2021, each Huobi PrimeEarn promotion has been oversubscribed by investors. Why?
In contrast to flexible deposit products, PrimeEarn is a fixed deposit product that offers incentives for crypto investors to hold onto their assets for longer periods of time. Investors just have to lock in their assets for 14 days, and they can receive APYs as high as 20% for mainstream assets such as BTC, ETH and USDT. High APYs aren’t the only draw – PrimeEarn also sets no cap on the amount an individual can invest, making it a very attractive option for investors holding a large amount of digital assets who seek a stable return. With such an attractive proposal, there lies no wonder previous PrimeEarn events were sold out in a matter of days.
And starting today, Huobi Global will be launching a PrimeEarn promotion once a week, every week, for the foreseeable future. Dubbed PrimeEarn High-Yield Tuesday, the weekly promotion is designed to incentivize participants to pull in their friends.
Every Tuesday, users can form a team with others to deposit USDT and ETH for higher yields. Teams will be rewarded with boosts in APY if they deposit certain amounts of tokens, and they’ll be ranked on how much they deposit. The top team will see their APYs increase to 20% for USDT deposits, and 15% for ETH deposits. 20% is the highest APY offered on the market for USDT deposits, and this promotion’s offering of both USDT and ETH deposits enables it to stand out amidst a sea of competitors.
Why is Huobi Global offering such a promotion, week after week?
Huobi Global believes that crypto shouldn’t all be about speculation and short-term trading. Huobi hopes that such a promotion will incentivize users to think more long-term about crypto. While 14 days may not seem like a long time to most people, it is to many crypto investors and speculators. More long-term investors will bring stability to the market, and mitigate the ups and downs that are common with volatile cryptocurrencies.
As a top digital asset platform, Binance has maintained a relatively low APY on its mainstream asset management products for a long time. However, the success enjoyed by previous Huobi PrimeEarn events has promoted Binance to increase the APY offered on its products in order to stay competitive. For example, Binance Earn increased the APY for its USDT flexible deposits from 7% for the first 2,000 USDT deposited, to 10%. However, discretionary users will find that although the APY appears high at first glance, Binance sets tiered APY for its flexible products and seldom introduces fixed deposits for mainstream assets. Therefore, total returns are seldom as attractive as they initially appear.
Du Jun, Co-Founder of Huobi Group, said:
“We operate on a very simple principle – just deposit and receive returns. With recent international events adding to volatility in financial markets worldwide, products such as PrimeEarn cater well to investors seeking a stable income.”
PrimeEarn falls under the broader umbrella of Huobi Earn, which aims to provide investors with multiple options to manage their assets. Users can stake mainstream assets such as BTC, ETH, USDT, and more. PrimeEarn is just one of the many new products that Huobi Global is rolling out to cater to the market’s growing needs.
As the current market volatility continues, more high-yield innovative products such as Huobi PrimeEarn will likely appear in the market, to cater to the needs of crypto enthusiasts worldwide.
To learn more on how to participate in PrimeEarn High-Yield Tuesday, click here.