Everything You Need To Know 

The cryptocurrency industry, in general, has grown tremendously over the past couple of years. This became particularly evident and expressive during the massive bull run we witnessed in 2021, when the price of Bitcoin nearly hit $ 70,000.

Although prices have dropped slightly and the market is depressing to date, there are many participants in the industry who have continued to find new ways and venues for both investment and trading. Coveting is among them.

The Covesting ecosystem has grown to be a thriving community filled with copy traders, passive investors and COV token holders who, when combined together, are much larger than the sum of all its parts.

With its constant growth and evolution, we have prepared this guide to the Covesting ecosystem, providing everything you might know and more about the peer-to-peer copy trading community, yield accounts and COV utility token integration. .

What is Covesting

Covesting is a European-based fintech software developer with many years of combined investment and technology development experience across the team. The company became one of the first ever to license DLT services.

Covesting has designed several innovative cryptocurrency-based services and tools, each of which is centered around the COV utility token. These solutions are offered to B2B partners, with the first exclusive launch of Covesting products on the launch of the award-winning PrimeXBT margin trading platform.

Since then, both PrimeXBT and Covesting have become synonymous and have created a synergistic situation that will benefit both brands – and their users – immensely.

The Covesting Copy Trading module

After launching Covesting’s copy trading module on PrimeXBT, the peer-to-peer copy trading community quickly expanded, soon featuring hundreds to thousands of traders who signed up to become strategy managers. Thousands more have signed up to become followers who automatically copy the trades of strategy managers using the tool.

Strategy managers have access to PrimeXBT trading tools and must level up with a high and permanent monthly ROI to gain more exposure. With increased visibility, strong ROI, and high rank, strategy managers can tremendously increase their income levels through the share of profit they receive from their followers’ copied trades.

Followers must rely on the fully transparent performance metrics provided in Covesting’s global rankings to choose which traders to follow. Followers can also choose to follow several top traders at the same time, effectively building a portfolio of top-tier traders.

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Covesting Yield Accounts

The second tool that PrimeXBT and Covesting have launched on the cryptocurrency community is the Covesting yield account system. Yield accounts offer direct access to popular DeFi protocols from within the PrimeXBT dashboard. You no longer need to tinker with blockchain-based dapps just to access the best variable interest rates in the industry.

Accounts that generate APYs pay daily in cryptocurrencies on a staking balance made up of inactive crypto assets. Rather than simply holding, users can stake their coins and earn.

Covesting’s yield accounts are easy to use, and when combined with COV token signups and Covesting’s copy trading module, they can create the most comprehensive passive investing strategy possible.

COV Token Subscriptions

The COV utility token is the native cryptocurrency of the Covesting ecosystem. No summary of the Covesting ecosystem would be complete without covering it in detail. Users aren’t required to use it, but those who unlock account-level utilities designed to benefit both followers and strategy managers, as well as those who use Covesting’s performance accounts.

Followers who activate a COV Token Membership will never again have to pay another subsequent membership fee and receive a larger profit share on each profitable trade copied. Strategy managers get discounts on trading fees. Covesting Performance Accounts double APY with COV Token Subscriptions.

COV Token Subscriptions are available in Advanced, Premium and Elite and are accessible from the MyCOV section. Users will be reminded that they can reduce fees every time they use the Covesting trading module. Subscriptions to COV tokens can be started or stopped at any time, allowing users total freedom to move from one subscription to another or deactivate it if they wish.

All of these tools and the entire Covesting ecosystem are currently available on the PrimeXBT margin trading platform. The B2B partnership has led both companies to continued success and the synergistic benefits have made the two brands synonymous.

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