Covesting copy trading is a unique innovation in the cryptocurrency market, offered exclusively at PrimeXBT – an award-winning multi-asset trading platform.
By leveraging PrimeXBT’s tools – such as long and short positions on more than 50 different CFDs – traders of the platform can make a name for themselves and rise the ranks of the global leaderboards. Other traders can then follow the most successful strategy managers, copying their profits and earnings from crypto markets without having to learn how to trade Bitcoin yourself.
Here’s how to get the very most out of the Covesting copy trading module on PrimeXBT, boosting profits and maximizing any capital or time investment spent.
Scoping Out The Strategies And Competition
The very first thing to do to ensure the most profitable experience when copying the trades of others is to make sure you pick your winners and weed out the losers.
Just like trading requires planning a position, followers have to at the very least pick which strategies to follow, rather than taking a gamble with hard-earned capital. Thankfully, Covesting and PrimeXBT offer a fully transparent global leaderboard with robust risk and success metrics that very clearly show if the strategy manager suits a follower’s risk appetite and personal profit goals.
Want to make a fortune quickly? Consider the strategy with the most ROI, but beware of any risk involved with the biggest wins. More conservative strategies might not be as appealing, however, finding a winner that regularly produces profits and protects capital is like striking gold or finding a diamond in the rough.
Finding The Stars Of Covesting To Follow
Finding a winner could be more like finding a shooting star rising to the top of the Covesting global leaderboard rankings.
A five-star rating system helps to separate not just those at the very top where things can be crowded. Lower down the list the five-star system highlights attributes like proper margin allocation, or win to loss ratio.
The conservative approach means consistent wins that compound over time, all without the risk necessary when following the highest rollers. High rollers on Covesting have reached as much as turning $450,000 into $8 million in only days, all while making their followers a fortune.
Set The Strategy And Make A Name For Yourself
If that sounds even more appealing to you than following a strategy yourself, then maybe it’s time for you to make a name for yourself as a Covesting strategy manager. Strategy managers don’t just earn notoriety around the crypto trading community, but they also can earn a portion of the success fees of all followers.
This win-win scenario can be incredibly profitable, and the higher up the ranks any strategy manager rises, the more money they can make by attracting more and more followers. These traders actively share their PnLs around the web or social media enticing others to follow, expanding the Covesting ecosystem even further.
Unlock Unrivaled Utility With COV Token
Still not satisfied with all that the Covesting copy trading module has to offer? There’s still much more that can be unlocked by the powerful COV utility token. The COV token is an ERC-20 token on the Ethereum blockchain designed for use within the Covesting ecosystem of products. Tools like the Covesting copy trading module and the upcoming Covesting Yield Account module slated for Q3 2021 will rely heavily on newly added COV token staking.
COV token staking added three additional accounts levels on top of the standard account level. Advanced, Premium and Elite accounts boost profit shares in favor of the follower, reduce trading fees, increase follower counts, and much more.
When the Covesting Yield Account system rolls out later this year COV staking will also enable even more profits with an unprecedented 2x APY boost on already high up to 35% interest rates from DeFi’s hottest protocols.
All this and more is available at PrimeXBT through the COV token and the Covesting lineup of products and services. Together, the two business partners continue to innovate around the world of finance. Registration on PrimeXBT is free and there’s no minimum deposit to start trading any of the more than 50 trading instruments found on the advanced trading platform.