PrimeXBT has officially launched the Covesting copy trading platform to the public. The platform creates a P2P asset management solution. As compensation, the expert trader earns up to 20% of followers’ profit.
September 7, 2020 | AtoZ Markets – Cryptocurrency trading firm, PrimeXBT has recently announced the launch of its copy trading platform, which was developed as a result of an ongoing B2B partnership with a Europe-based digital asset exchange, Covesting.
What are the advantages of Covesting copy trading platform?
The Covesting platform connects novice and advanced traders. The goal is to help newbie traders to automatically copy the trades of the professional traders on the platform, thus creating a P2P asset management solution. As a reward, the copied trader earns a portion of the follower’s equity just for creating a successful trading strategy.
“Experienced traders can earn up to 20% of follower equity profit by creating a successful trading strategy. The Covesting module on PrimeXBT tracks all strategy metrics in a public rating system, such as ROI, daily profit, equity, and total followers. Followers earn up to 70% of the profits generated by these traders, making it a highly attractive platform for those willing to tap into the expertise of other top market participants.”
Back in 2019, Covesting collaborated with PrimeXBT to integrate and license its technology and utility token. As part of the deal, COV token, the Covesting platform’s ERC20 utility token was integrated into the PrimeXBT’s crypto trading infrastructure and became a vital part of the copy trading experience. The company further explains:
“The public launch comes nearly four months following the anticipated release of the Covesting beta on PrimeXBT. The platform quickly garnered widespread interest within the trading community and amassed over $1 million in follower equity. As indicated by fully transparent success statistics, following the platform’s best traders brought followers earnings of as much as $2,000 and up with very little starting capital.”
Creating a community for both experienced and new traders
Copy trading technology has been available on Covesting’s platform for a while now. However, the deal shows PrimeXTB clients are now able to access the branded service. Established in 2018, PrimeXBT offers leveraged trading, real-time market data, and analysis tools across a wide spectrum of crypto assets.
With Covesting, everyday investors can search and compare the performance of hundreds of best-rated crypto traders and automatically replicate their trades. Meanwhile, the Covesting platform helps talented investors display their results competing with other traders in an equally fair environment.
It is worthy of note that Dmitrij Pruglo is the Founder and driving force behind Covesting. Dmitrij along with other ex-Saxo Bank managers collectively boasts an extensive background in FX and equity trading. Their platform is designed to help traders around the world to invest in cryptocurrencies, as well as facilitate the ability to invest intelligently in a booming crypto market.
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