Covesting, a Europe-based, licensed DLT services provider and software developer, has officially launched the Covesting copy trading platform on PrimeXBT.
Read More: Habito, UK’s Digital Mortgage Broker, Secures £5.5m in Series A funding
Covesting: Crypto Market’s Only Copy Trading Solution Launches
Following a successful, four-month beta phase, Covesting has fully launched the Covesting copy trading platform on the award-winning Bitcoin-based margin trading platform, PrimeXBT. The Covesting copy trading module is provided to PrimeXBT under a software licensing agreement.
The Covesting platform connects traders with followers, allowing them to profit alongside one another for mutual gain. Traders earn a portion of success fees from follower’s equity, while followers can enjoy hassle-free trading by following other trader’s successful strategies according to the company.
However, even the most successful traders can experience losing streaks Covesting states, and past results do not indicate future performance is certain. Covesting, therefore, provides several risk management tools and advises users to understand all risk disclaimers andnever invest more capital than one can afford to lose.
Covesting Copy Trading Benefits Revealed. COV Token Utilities Announced
Covesting has also revealed the benefits COV token holders will gain access to by holding the utility token designed for the copy trading platform. COV token utilities will be split between Core and Secondary token utilities. Covesting’s business goals include partnering with other third-party platforms in the future via white-label licensing agreements, in which additional utilities will be designed with key partners in mind.
Core token utilities will be mandatory for each Covesting implementation, regardless of the platform, to ensure parity in user experience as well as scalability and interoperability. These primary utilities include trading fee reduction, increased success fees within the Covesting platform, follower limit increases, token burns, and much more.
Secondary COV token utilities will be revealed at a later date and are platform-specific. Covesting will develop these secondary utility features in cooperation with third-party, B2B partners according to their business model and goals.
Covesting has also introduced its roadmap for the continued development of the copy trading platform, including adding new success metrics, risk management tools, updated rating logic, and more.
Powerful P2P Ecosystem For Traders Now Available To All
Starting immediately, the Covesting copy trading platform is now available to all via PrimeXBT. Registered users can access the platform in a few clicks, while new users are invited to register to try the revolutionary first for the crypto market.
Covesting CEO and Founder Dmitrij Pruglo shared his thoughts about the full public release, saying, “the road was a long and challenging journey, but we are happy to finally reveal the Covesting copy trading module to all.”
“The entire world is shifting toward P2P ecosystems. We have eBay for buyers and sellers, Uber for drivers and passengers, and AirBNB for host and guests. We are proud to see through our dream of successfully developing a P2P service connecting traders for an opportunity to profit together,” Pruglo added.
Read More: Four Benefits of Buy Now Pay Later for Ecommerce Retailers
