What is Covesting?
You must have heard about ChainLink (LINK), a decentralized oracle network that provides the real-world data to connect smart contracts. It is now a secure and intuitive number 5 cryptocurrency trading platform whose value has raised to about 100 times.
What’s next in the cryptocurrency that tends to trades even better in the future? Have you ever come across the term “Covesting”?
Well, you must have!
Covesting is a cryptocurrency exchange registered under the laws of Gibraltar that offers the best software solutions and allows the retail and institutional customers to trade the cryptocurrencies smartly. Covesting has also been rewarded with a license (distributed Ledger Technology License) from the relevant authorities in Gibraltar.
Covesting is a mutually convenient platform for the traders and followers, allowing both to gain the profit equally. Traders benefit from the success fee generated by the successful trading with followers, while followers enjoy the peace of mind by comparing their performance with many successful cryptocurrency traders. It is known as “copy trading”. The Covesting has distributed its own COV token.
Covesting and PrimeXBT partnership
Covesting and PrimeXBT have now partnered to build a seamless extension and profit for each other. The PrimeXBT’s Covesting Module allows the traders to expand their investment funds transparently by providing the followers a proof of investment funds they would like to invest. Following this, traders can maximize profit by easily attracting followers. It’s effective for the inexperienced users that they can search various investors, browse their results to ensure the secure investment. This provides a way to increase profitability with no experience and knowledge of the cryptocurrency trading market.
What is PrimeXBT?
PrimeXBT is one of the largest award-winning Bitcoin-based cryptocurrency trading platforms that allows instant access to Forex, stock indices, Commodities (metal, gas, oil) which offered a trading volume of $ 1 billion. However, the company won the award (ADVFN International Financial Awards) for the best Bitcoin Margin Trading.
What does the platform offer?
- About 100x leverage for cryptocurrencies
- Various kind of tools for the technical analysis of trading
- Privacy, liquidity, and security to provide a safe trading environment
- A large number of liquidity providers provide aggregated liquidity.
Why Will COV Skyrocket?
Covesting has unlocked many trading benefits and opportunities for the COV token holders. They will be able to gain access to the professional crypto traders on the trading platforms. COV token utilities will break into two token utilities: Core and Secondary. Covesting aims to sign a white-label licensing agreement to partner with various other third-party platforms in the future, in which multiple utilities will be plotted by keeping the main partners in mind. According to the CoinMarketCap, the current supply is approximately 18, 000,000 COV tokens, and 50% of all the platform earning is in the strong hands.
The team members of Covesting and PrimeXBT have announced that COV token will be optimally integrated with PrimeXBT and will be mainly utilized for performing three functions which include a reduction in trading fee, increased success fee, and improved following limitations.
Reduction in trading fee:
Increased trading options allows the traders to get more exposure to the assets and gain maximum benefit. It will result in the trading fee reduction from 10 to 100%, but the actual number of COV token necessary for the discount will be determined later on.
Increase % of success fee:
By holding up tokens and ensuring their maximal utility enables the followers to improve the success fee %. For instance, Covesting gains the % success fee for the profitable trades and then distributes them between the follower and strategy manager. The corresponding offers decide the % of the division among strategy manger, followers, and the platform. The ongoing offer may vary with the company’s circumspection as per the market condition. By holding up an amount of COV token which yet needs to be determined, Covesting’s percentage has minimized and a maximal profit earned by the strategy manger turned to the followers.
Enhanced following limitations:
We plan to limit the elevated number of followings or inflict the control on capital to keep the token utility at peak. However, staking a large number of COV Tokens will promote the followers and upraise the capital limit.
Burning of tokens
Covesting burns the token regularly, quarterly, or once a month, to increase the value of tokens. After token burns and deducting the earnings, discounts, and other revenue, The Company calculates the fee. In the context of Covesting COV token has great capability in the medium time perspective. Covesting also owns a collaborating and caring community.
COV token involves the trading on, inter alia, KuCoin, and on the launch of Covesting’s module at PrimeXBT, they showed a strong positive reaction to the news.
Reasons why you should hold COV?
What actually makes it necessary to hold COV-token? There are many reasons that are simply worthwhile:
- A trustworthy team
- Decreased token supply
- Accredited company
- COV-taken is taken under the radar
- Collaboration with a strong trading platform along with many users
- Token burns and future utility
- Supportive community
- Trading ideas and technical analysis by top analyst
Feel free to check out the site and research more about the token. PrimeXBT is rapidly increasing its customer base each day and it offers access to a multitude of assets, so you can visit the site of PrimeXBT for crypto trading. Once you will access the site you will get a welcome bonus of $50. You can also give a try to successful traders but there is no guarantee of the best results.
Please check out since when the published strategy is active on the crypto platform because for the newer strategy there are more chances of risks which can ultimately lead to the loss of funds. So if you want to keep the capital secure, don’t invest because it is quite risky.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link