PrimeXBT’s Covesting Module

Convesting Module

Convesting is the first form of copy trading in the field of cryptocurrency trading that is widely popularized, introduced to the market in 2017 by Convesting and in 2021 has become the alternative way of trading. fastest growing to trade profitably with the cryptocurrency market. Users, whether expert or novice, can choose to copy the trading strategies of other professional traders.

Recently, it was launched a series of new utilities related to the Covesting module’s own cryptocurrency, the COV token (COV token), which has been developed and integrated into the Convesting module, as well as the use of COV is offered to users of the module to achieve a series of powerful new benefits.

One of these benefits is the ability for strategy managers to reduce transaction costs on the Convesting module by up to 75% and we were able to achieve this, as well as forking other COV token utilities as well. has been included in PrimeXBT’s Convesting module. The beta phase of the module lasted from April to August 2020 and was a huge success as there was already 1 million USD of equity provided by users.

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Both long-term COV holders and Covesting module users look forward to the new issuance of 4 new COV token utilities as an important step in the project’s roadmap and an opportunity to access a range of exciting benefits.

Currently, the full version of the Covesting module on PrimeXBT has helped users as well as strategy managers to achieve optimal results in the market.

The basic principle of Convesting is that experienced traders called “strategy managers” create the strategies and trades they want to execute and then create investment funds. peer-to-peer that the strategies are directly linked and allow others to copy the same transactions by investing in the fund.

This allows other users, called “followers”, to easily and quickly compare and analyze different strategies on the Convesting module on XP Basic to PrimeXBT to find out. strategies that best fit their investment profile and then allow them to easily and quickly invest capital in those funds.

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Four benefits of COV

  1. Followers

Success Fees Improved

Whenever a successful and profitable trade is completed by the strategy manager, there is a success fee generated between them, their followers and the platform itself, where the success fee This is divided between the parties.

With the use of the new COV token for the first time, followers can earn a balance that benefits them in relation to the success fee, getting more than the success fee for themselves and in turn increasing the revenue they generate. from their successful investments on the Convesting module.

  1. No 1% Entry Fee

The second new utility of the COV token that is particularly beneficial to followers is the ability to eliminate the 1% participation fee that all followers are required when they select and follow a strategy manager for the first time. Firstly.

Across various trackers, this 1% reduction in participation fees can have a significant impact on overall profitability and can be an important advantage for followers using COV tokens.

  1. Holders

New COV Token Burn Program

Up to 50% of all fees generated on the Covesting module will now also be burned as COV tokens, which have been introduced by the Covesting team to increase the value and scarcity of the new COV token.

This initiative offers COV token holders, whether they are long-term holders or Convesting users, the ability to derive greater levels of value from COV as they hold it over time.

  1. Strategy Managers Trading Fee Reduction

Strategy managers on PrimeXBT’s Convesting module can reduce their trading fees by 25%, 50% or 75%.

This reduction in transaction fees can provide a significant advantage to strategy managers and can allow them to retain more of the revenue they generate when they use the Convesting module, which represents a significant advantage. significant advantage for strategic managers.

The newly launched utilities show the application and usefulness of the COV token. By using COV, users can get even more value from the Covesting module.

The benefits of investing or copying trading

By copying a trading strategy, traders and followers enjoy great benefits. Major among them include:

– Easy for new traders: New traders don’t need to understand the strategy; All they needed was an analysis of how the strategy worked. If it’s good for them, they copy and take the trade.

– Saves time: Trader does all the research for you and you don’t have to research the market.

– Wide range of instruments: In addition to cryptocurrencies, PrimeXBT supports forex and gold trading. Therefore, this strategy is ideal even for non-crypto traders. Currently, it is only available to Bitcoin traders.

Leveraged Trading Support: PrimeXBT trading is one of the leading margin trading crypto platforms, investing can be applied on leveraged trading.

Risks when investing

Remember that there are risks involved with investing. No trader can guarantee profits and you can lose money using this strategy. We even saw some traders get liquidated. Never invest more than you are willing to lose.

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How to use investment on PrimeXBT?

If you are not a registered user yet, go to PrimeXBT trading platforms and create an account.

First you need to make sure you have deposited your Bitcoin to get started with Investing. With our promo code you can get 35% bonus on your first deposit.

From here you can copy other traders’ trading strategies. PrimeXBT trading provides ratings of Pro-Invest traders. In addition, you can sort the list by different options like activity date, profit, name and followers.

You can invest in BTC with multiple strategy leaders by allocating a portion of your trading amount to each of the main traders.

  1. To copy/follow a trader, click Follow .
  2. Select the amount of BTC you want to invest in the trader.
  3. You’re done. Waiting for profit.

For more information about a trader, click on their name. This shows additional details like description, what they have to offer, total number of followers and number of followers.

Note that you can access your portfolio from the left side of the window. From the portfolio you can see the traders you have followed, the amount of profit/loss you have made so far, the amount of BTC invested with each trader, among other details .

The exchange does not have a dedicated leverage button. Instead, it uses cross margin. Therefore, all funds in the trading wallet are used as margin.

Investment fee

The offer section shows how the profits from copy trading are shared between traders, followers and the exchange. Investment fees are in the range of 40% to 25% of your profits. It is based on the amount invested:

– 001 – 0.3 BTC: Followers get 60%, platform get 20% and original trader get 20%.

– 3 – 0.5 BTC: Followers get 65%, platform get 15% and original trader get 20%.

– 5 – 1 BTC: Followers get 70%, platform get 10% and the original trader gets 20%.

– 1+ BTC: Followers get 75%, platform get 5% and original trader gets 20%.

Investing or copy trading with PrimeXBT trading is very easy. Unfortunately, nothing in the world of cryptocurrency trading is without risk. As a margin trading platform, you can get liquidated even while you are Investing. However, the Invest feature is ideal for new traders who want to get their feet wet. In addition, copy trading on PrimeXBT benefits experienced traders. For example, instead of copying strategies, they can join PrimeXBT and create their own strategies for beginner traders to copy.

As more followers embrace their strategy, they climb higher on the list of profitable strategy leaders. By keeping 20 percent of the profits made on your strategies from each trader, this forms a passive income generating stream.

Start trading now and get 35% bonus!!!

 

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