In today’s blog we are going to talk about one of them, Covesting from PrimeXBT, a platform that is slightly different from the others and offers a stress-free trading environment and a higher success rate.
So let’s take a closer look at what the Covesting platform is and how it works.
The Covesting platform is an innovative copy trading platform that connects traders and followers, enabling them to copy the traders’ successful trading strategies and benefit from each other to their mutual advantage.
In the above configuration, the traders earn a part of the profit (success fee) from the assets of the followers, which makes the whole system interesting for all involved.
What is the difference between Covesting and other platforms?
Compared to other platforms, Covesting has a very transparent operational structure. This allows traders to show the results and effectiveness of their trading strategies to the public and ensures fair competition with other traders.
Depending on the results, the follower can follow or not follow the trader to activate or deactivate the copy trade function.
For traders, each increase in followers means they make more money in the form of rewards for making profitable trades.
Other features include:
- You can trade in over 50 instruments including cryptocurrencies, currencies, commodities, CFDs, indices and much more.
- There is no limit to the number of trading strategies you can use.
- Easy to use – no need to copy trading strategies.
- Reliable and safe platform
How can I start using the PrimeXBT storage platform?
Create a free PrimeXBT exchange account by entering your email address, password and mobile phone number. Verify your account by confirming the link sent to your inbox, and you can now access your account.
Deposit money into your PrimeXBT account now to start trading. You can fund your account in two ways, with a credit/debit card or via bitcoin transfer.
The whole transfer process takes less than 5 minutes. The minimum deposit amount at PrimeXBT is 0.001BTC. When using a credit/debit card, transaction fees are approximately 10% of the deposit amount.
Go to the Koof module from the dashboard. From there, you can follow traders according to the execution of their trading strategies. To copy the trading strategy, you must press the FOLLOW button to start trading. You now have to decide how much BTC you want to invest in both strategies.
One of the big advantages of the Covesting platform is that it doesn’t tie up your capital. When you stop following the trading strategy, the funds are automatically transferred to your PrimeXBT trading account, which increases the reliability of the platform.
Does Covesting charge a fee for executing trades or monitoring trading strategies?
Yes, there is a charge for new sequences in the covesting module. Trading costs are charged in accordance with the rates of the PrimeXBT platform.
The Covesting module has introduced a 1% entry rate for all new followers, but you can waive this rate by activating the VOC help point. COV is a native token of the Covesting platform. You have to pay 88 COV. You can get 100% off the registration fee for 30 days.
Strategy managers can also benefit from a 25%, 50% and 75% discount on trading commissions if they pay a fixed amount of VOC fees.
In the second part of this article, we will take a closer look at the benefits of VOC markers.
What is the reward for success on the platform?
The success fee is split between the follower, the strategy manager and the platform.
The amount of profit sharing does not depend on the final amount (investment amount + profit), but only on the original amount invested. This is because the final amount is higher than the initial investment, and sometimes it can rise to a higher level and lower the profit sharing rate.
You have z. B. 0,5 BTC invested, but the final amount is 0,55 BTC. In this case, the final amount will be in the higher range where the follower will receive a higher profit share.
How do I filter successful trading strategies on the Coveting module?
Coveting has made copy trading very transparent and easy for users to choose a profitable trading strategy and reduce costs.
Below are the covesting features that will help you filter and select winning strategies:
- First, the must look for traders (strategy managers) with a higher ranking than the. It is useful to first filter out resellers from a long list.
- Now look for traders who generate consistent profits and have more active days. You can easily find the calendar of all traders and the number of active days in the list. A higher number of active days reflects a trader’s consistency and generates regular profits over a longer period of time.
- Third, look for strategy managers with highcapital, meaning the trader himself has allocated more funds to his trading strategy. This shows that the trader has confidence in the trading strategy and helps in assessing the associated risks.
Instead of relying on the number of followers and their ability, always focus on the strategy manager’s performance to increase profitability and reduce risk.
COV is an ERC-20 utility for the Covesting platform, designed specifically for the Copy Trading platform. It offers many benefits to token holders on the Covesting platform, such as:
- Improvement of the profit-sharing percentage in favour of the successor
- No registration fee for a follower
- Discount on sales commission for strategy managers
Cotton Token Savings
- A limited supply of 18 million coins in circulation
- The Covesting platform owns 50% of the room.
- Over time, the Covesting team will burn through some of the fees generated by Covesting’s copy trading module, reducing the supply of VOC tokens.
After the review, we can say that Covesting copy trading has significantly simplified and made it accessible to all categories of traders, including beginners. And in combination with an attractive incentive structure, Covesting clearly distinguishes itself.
Some of the highlights of the platform:
- Simple registration
- A wide range of trading strategies to choose from
- You can easily follow the trading strategy and determine the initial investment amount.
- Fast deposits, transfers and withdrawals
- Attractive incentive structure
In short, with the Covesting platform, you can trade like a pro and make serious profits while effectively managing your risks.
frequently asked questions
How do you behave as a professional?
Articles ‘ Active trade
What is a professional trader?
What do professional traders think?
trade like a pro pdfhow to trade like a professional traderprofessional trader requirementsprofessional traders in the worldprofessional trader meaningtop professional traders,People also search for,Feedback,Privacy settings,How Search works,Professional Trading Strategies…,The Playbook: An Inside…,Trade Like a Pro: 15 High‑Profit…,Trading in the Zone: Master the…,Stock Options Trading St…,Market Wizards,See more,trade like a pro pdf,how to trade like a professional trader,professional trader requirements,professional traders in the world,professional trader meaning,top professional traders,how do you qualify as a professional trader?,professional trader in india