Breaking news that Covesting would soon debut yield generating accounts on PrimeXBT not only had the industry buzzing about the new DeFi-centric service coming in Q3 2021 – it also re-energized discussion around the rapidly growing peer-to-peer trading community surrounding the Covesting copy trading module.
While Covesting Yield Accounts will bring crypto holders as much as 35% APY on idle crypto assets, the Covesting copy trading platform on PrimeXBT has resulted in top strategy managers turning $400,000 in $8.5 million in four days while simultaneously making a fortune for anyone following that a strategy.
Picking a winner like that requires a lot of luck. But the odds can be significantly improved in favor of success by following some specific tips and guidelines for recognizing the safest, most reliable, and lowest-risk strategies found on the Covesting leaderboards.
Picking Out Winners And Sorting Out Losers With Covesting
The Covesting global leaderboards are where anyone considering PrimeXBT’s copy trading tool should start. The fully transparent global leaderboards are where all the action is, and also where followers can view a wealth of metrics related to risk, success, profits, and loss. There’s info like win to loss ratio, average margin allocation, and other barometers of safety and profitability.
Traders are ranked by profits first and foremost, but there’s so much information that followers can use to make informed decisions and reduce risk. This is still trading, so there’s no way to alleviate all risks associated, but by copying the trades of someone with a track record and highly developed skill set can bolster probabilities.
Plus, all the infinitely valuable data can be used to fine-tune followings based on risk or profit goals and build a diverse portfolio of strategies, assets, and more – all on the same trading platform.
Find Out More From The Source, Follow The Stars
The Covesting copy trading module on the award-winning PrimeXBT also features a five-star rating system that further highlights the best of the best and those that apply the strictest risk management strategies.
Each star is more challenging to earn than the next, making the rare event of achieving all five worthy of the status they’ve attained and something to pay attention to.
For those who want to know even more about each trader, they can consider joining the Covesting Telegram community, where the developers, staff, and top strategy managers all share tips, charts, announcements, and much more.
It both provides a behind-the-scenes look at the community and some added comfort that the strategy manager you are following is as sharp as you hope they are. There’s also a lot of fun, banter, and general crypto community chatter in tow.
What’s even better about Covesting copy trading is that followers can stop following a strategy at any given time for complete control, and followers can also copy the trades of several strategies at once for a highly diversified portfolio of traders. This can bolster profitability and even lower risk by capital being less overall impacted by one losing trade.
COV Token Unlocks Deep Utility, Even More Power At PrimeXBT
Beyond this, there are also ways to unlock many more benefits and boost profitability. At the center of all Covesting ecosystem experiences is the native COV utility token. COV is an ERC-20 token that unlocks a variety of benefits within the copy trading module and the coming Covesting Yield Accounts services.
Staking COV tokens unlocks a variety of benefits for both strategy managers and followers alike. Followers can eliminate entry fees and increase their profit share, while strategy managers can improve follower counts and reduce trading fees. Depending on the level of staking, there are also APY boosting attributes within the yield-generating account coming soon.
With the inclusion of regularly scheduled systematic token burns and much more, all this combined makes the COV token, Covesting, and PrimeXBT, an all-in-one package for the sophisticated crypto trader. Rounding out the PrimeXBT value proposition is a robust referral program up to four levels deep, where users can earn BTC, ETH, USDT, and USDC - depending on what asset any users they refer use to fund their accounts.
Under one roof, traders can access DeFi yields, an unmatched copy trading experience, and go long or short on more than 50 of today’s hottest trading instruments using PrimeXBT. There are also built-in charting tools, an unrivaled commitment to customer service and quality, a reliable trading engine, and so much more to check out.
While you're here...
We launched Native News Online with the belief that everyone in Indian Country deserves equal access to news and commentary pertaining to them, their relatives and their communities. That's why the story you’ve just finished was free — and we want to keep it that way, for all readers. We hope it inspires you to make a gift to Native News Online so that we can continue publishing more stories that make a difference to Native people, whether they live on or off the reservation. Your donation will help us keep producing quality journalism and elevating Indigenous voices. Typically, readers donate $20, but any contribution of any amount — big or small — gives us a better, stronger future and allows us to remain a force for change. Donate to Native News Online today and support independent Indigenous journalism. Thank you.