For those unaware, the Covesting beta brings skilled professionals together with followers within a unique, copy-trading platform, unlike anything else in the crypto industry. However, it has only been available to a select few who had access to the beta – until now.
According to a press release shared by the award-winning Bitcoin margin trading platform PrimeXBT, the Covesting platform is now fully available to the public for the first time ever. Here’s why this disruptive new tool is about to change the game for all of crypto.
PrimeXBT debuts full public launch of Covesting copy-trading
The Covesting copy-trading platform released today to the public is a product of Europe-based and DLT-licensed fintech software developer Covesting and the result of a collaboration between the firm and advanced trading platform PrimeXBT.
The two companies were the perfect match, combining Covesting’s copy-trading tech with PrimeXBT’s wide range of trading instruments like forex, commodities, stock indices, and crypto, and trading features such as long and short positions, built-in technical analysis tools, and more.
Together they have released an innovative tool aimed at profitability for both new followers and experienced traders alike.
Covesting CEO and Founder Dmitrij Pruglo shared his thoughts about the full public release, saying, "the road was a long and challenging journey, but we are happy to finally reveal the Covesting copy trading module to all."
"The entire world is shifting toward P2P ecosystems. We have eBay for buyers and sellers, Uber for drivers and passengers, and AirBNB for host and guests. We are proud to see through our dream of successfully developing a P2P service connecting traders for an opportunity to profit together," Pruglo added.
What can followers and traders expect for profits?
Covesting lets the best of the best traders create strategies that can be followed by others for profits. Followers add equity into any strategy of their choosing, based on publicly available stats on win rates, ROI, and more, and earn a portion of profits generated by the strategy manager.
Strategy managers also earn a portion of the profits generated with follower funds, and followers make profit despite lacking the same level of experience as professional traders.
Examples provided in a company blog post demonstrate what followers and strategy managers can potentially earn. Total ROI generated throughout the beta by some strategy managers reached over 1,800% even after an extended phase, and total follower equity had peaked at over $1 million. Follower profits based on the top ten strategies alone reached over $250,000. The top ten strategy managers collectively earned over $70,000 using the same total follower equity.
Future updates will only further build into the health of the growing ecosystem and provide traders with unparalleled control and transparency, according to a roadmap shared by the development team.
Why Covesting copy-trading matters to Crypto Traders
The Covesting copy-trading platform launch comes at a time when markets are more volatile than ever, and therefore more opportunity around every corner for investors and traders to share.
The stock market is experiencing the most volatile in several years, oil crashed to historic lows, gold set new record highs, and Bitcoin and other cryptocurrencies are gearing up for another explosive rally.
Ethereum has grown by over 200% since 2020 first began, XRP in a week rallied by more than 45%. These types of returns would be only the beginning if the last bull market was anything to go by.
Traders on Covesting were able to generate as much as 1,800%, all while cryptocurrencies were consolidating and trading in a tight range. With volatility returning to the explosiveness the asset class is known for, top traders can turn even meager investments into substantial success with Bitcoin going up once again.
Get started with the Covesting public launch starting today on PrimeXBT
Covesting is available to anyone registered to PrimeXBT. If you already have an account, you can immediately set up a strategy and trade forex, stock indices, commodities, or crypto to start building a rating and reputation. You can also make a deposit and start investing equity in any of the existing strategies available on the platform.
Those new to the platform can sign up in a few clicks and in less than a minute for a free trading account. Once registered, a small minimum deposit of 0.001 BTC is required to begin trading, or Bitcoin can be bought directly from within the account dashboard.
Potential strategy managers will want to get in early and start building their trading career right away. Investors will want to get started just as quickly to take advantage of the current market volatility and profitability.
