What is Covesting?
It is the dream of every human being: to have a machine that gives us money while we sleep. Unfortunately, reality hits us and we see that this machine only exists in the land of fantasy. However, the latest in the world of trading may approach this utopia.
It is called Covesting and the examples provided in a post on the company’s blog, show what followers and strategy managers can gain. The total ROI generated during the beta version by one of the strategy managers reached over 1.080%, even after a long time, and the total capital of the followers reached a maximum of over 1 million dollars.
But what is Covesting, what is it about, and how can I take advantage of what is new in the world of finance?
Well, the first thing you need to know is that Covesting is a copy negotiation tool. But what is copy negotiation? Through this platform you can copy exactly the movements made by successful traders in the market. Your long and short positions on different assets, everything can be copied.
Don’t worry, they know. And this is one of the biggest advantages of Covesting: both the person who copies the strategy (follower) and the person who operates it (strategy manager) benefit from this action. Think of Covesting as the financial hindrance. It is a peer-to-peer platform, i.e. it directly connects the less experienced operator with the more trained and both can profit from this small collaboration.
In addition, the Covesting copy trading platform is the product of the DLT-licensed fintech software developer based in Covesting Europe and is the result of a collaboration between the company and PrimeXBT’s advanced trading platform.
How does it work?
The Covesting module basically helps those who wish to venture into the world of trading, but do not have the time to devote to studying everything there is to know about finance. It also works for those who have an idea of how it works, but don’t have time to read about technical analysis and everything that happens in the market. They are people who are willing to invest, but want to do so with a safety net a little stronger than they would if they ventured to operate on their own.
Covesting connects those people willing to invest with traders with more experience and who have spent more time knowing the market. They can anticipate the trend. Although risk still exists, it decreases as you will not be the decision maker but a more experienced person. You can choose the trader you like the most and can evaluate your track record at any time.
The most experienced trader, better known as a strategy manager, is very interested in his strategy being the right one, because he also benefits from what his follower gains. Being the brains behind the operation, a percentage of the profits generated with your follower’s money goes directly to the manager.
This makes them both interested in the success of the operation.
Followers‘ profits based on just the top ten strategies exceeded $250,000 in the beta version, while the top ten strategy managers collectively earned over $70,000 using the same total assets as their followers.
Where can I access Covesting?
On the award winning Bitcoin-based leveraged trading platform, PrimeXBT is the Covesting module. This creates a perfect opportunity to trade gold, crypto, commodities and forex.
PrimeXBT has multiple advantages: you can take long and short positions in different assets and thus create a diversified portfolio, only the most recommended in times of crisis. Not only Bitcoin, you also have Etherum, other crypto currencies, gold, oil and much more.
In addition, the platform has ventured this year into expanding its currency pairs into the foreign exchange market. There are not only the most stable currencies, but also some exotic currencies, which can bring a higher profit margin. Within these new currencies is the Mexican peso.
New users of the platform can sign up with just a few clicks and in less than a minute get a free account. Once registered, a small minimum deposit of 0.001 BTC is required to start trading or they can buy Bitcoin directly from the account panel.