This is how you can use Covesting: the copy trading tool presented by PrimeXBT
Covesting is great for beginners and the more experienced
Covesting is social commerce tool, or Copy Trading, which can be used to copy operations within PrimeXBT other investors.
Copy Trading, also known as “Social Trading”, is a popular tactic used by newbies, because you can learn to trade cryptocurrencies and also earn passive income using various techniques. As well as being used by many experienced investors.
Trading at Covesting is automated so you can trade with little effort, although you can also opt for manual trading.
The objective of social trading is to open positions in various financial markets and then close them as soon as the value of your assets has increased.
Mind you, as with any trading method, this can result in profits and losses.
PrimeXBT allows you to know the history, capital, evolution, number of followers, seniority and more about the different traders that operate on the Covesting platform.
How does it work?
PrimeXBT users will be able to access this innovative copy trading module powered by Covesting, to connect with professional traders, allowing them to benefit from each other.
Therefore, to use Covesting, it is necessary to register with PrimeXBT.
The hedging module allows traders to create funds with their trading strategy in a transparent way. In which users (ie potential followers) can check the history and how much capital is invested in each fund to decide which fund to follow and invest in.
If they want to use the platform as a “follower”, PrimeXBT users can search for different traders, check the results of their funds and invest in the one they like, this provides a way to earn money passively without any trading skills or knowledge of the market. market.
For their part, traders can build a reputation and a second source of income by attracting followers and continuing to do what they do best, which is trading.
Why should I use Covesting?
Covesting is great for beginners as it allows them to become familiar with stocks and trading strategies. You can easily follow other merchants.
By learning from experienced traders, you can gain the knowledge to start trading for yourself soon.
You can easily develop your own strategy and become a professional trader that way.
Furthermore, Covesting is also ideal for experienced traders. Since copy trading is automated, this is a convenient option for busy traders or those who just want to make extra money easily.
The Covesting interface
The Covesting module integrates seamlessly into the PrimeXBT user interface while preserving the design logic of the platform.
The first thing you will see when you click on the Covesting tab is the rating list from which you select traders to review their performance and trading strategy.
You can make a quick selection by consulting a list of indicators for a quick view:
- Total benefit.
- Today’s benefit.
- Active days.
- Equity of followers.
Covesting allows access to more detailed information about the strategy, by clicking on the name of the fund which will take you to a dedicated page.
The dedicated strategy page shows a detailed view of earnings, manager’s equity, followers’ equity and used margin.
At the bottom of the page is the offer with the set profit allocation percentage and additional indicators such as profitability, maximum drawdown and profit ratio.
From this page, you can invest in the strategy by entering the amount on the right and clicking “Follow”, with the minimum to follow a strategy being 0.001 BTC.
Also, on the portfolio page, you can follow the performance of the strategies of the followed fund managers.
From that page, you can also quickly assess the overall profits and losses of all the strategies followed currently and in the past.
On the other hand, if you want to create a strategy, the process is quite simple.
You just have to enter the name, describe the strategy in a few words and enter how much you want to start trading on this strategy. The minimum amount to start a strategy is 0.01 BTC.
On the right, you will see the offers available for allocation for profit between the manager, investors and the platform.
The distribution of benefits is distributed as follows:
- Investor – 60, 65, 70 or 75 percent, depending on the investment.
- Manager – 20% (always).
- Platform – 20, 15, 10 or 5 percent, depending on the investment.
The income accounts
Covesting also offers Performance Accounts, which will generate a return on the client’s cryptocurrency holdings.
Thus, instead of simply letting crypto assets sit idle, users can transfer them to a “Covesting Yield” Account, on PrimeXBT, and receive variable interest over time.
The innovative Covesting Yield Account experience connects users with the best decentralized finance (DeFi) applications, for the highest possible returns.
In essence, these accounts connect clients with various DeFi yield generation protocols to offer very attractive APY.
In addition, as they provide transparency through Covesting’s copy trading module and leaderboards, the firm also plans to make it easier to view how much estimated return one can currently expect in real time.
In this way, users can track earnings, increase deposits, make withdrawals and much more, quickly and easily.
What is PrimeXBT?
PrimeXBT has established itself as a premier crypto margin trading platform, winning the best crypto margin trading award from ADVFN in 2020.
It has access to 30 trading markets, including forex, cryptocurrencies, indices and futures, currently operating in more than 150 countries.
The exchange is also committed to security. Traders and supporters are completely anonymous and their network is extremely secure, protecting all users from hackers and identity theft.
PrimeXBT offers other benefits including:
- Low business rates.
- Tools and resources (a full dashboard, charts, etc.).
- Mobile access.
- 99.999% network availability.
- Excellent customer support.
- Referral fees and affiliate program.
- A very active community.
Overall, this is the best platform for followers and traders who are serious about social trading, through Covesting.
PrimeXBT introduced a new giveaway designed to reward platform users who engage with the exchange’s social media and community channels.
The interaction between the company and users on social media fuels the growth of the PrimeXBT community and the Covesting peer-to-peer copy trading community, which is why the platform thanks users with another $20,000 worth of Bitcoin as gifts.
To participate, just follow three simple steps and have the opportunity to win a part of the total prize.
In itself, there will be 400 lucky ones who complete all the necessary steps to receive $50 in BTC trading capital.
The fastest way to get started is by clicking here. Then you must follow a few simple steps that are: enter your PrimeXBT account number, if you do not have it, you must register on the platform with this link; then they must follow at least one of the exchange’s official Twitter accounts; and become members of one of the platform’s groups on Telegram.
For more information you can visit:
Their website: https://primexbt.com/
Official Twitter accounts:
Official Telegram channels:
Sign up for an account here: https://u.primexbt.com/register
More giveaway details: https://u.primexbt.com/blog
Join and participate: https://u.primexbt.com/giveaway
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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO, and should not be attributed to CriptomonedaseICO.