| operations | | 0. | | 0. | comment |
|---|
| 1. | | parent_author | "" |
|---|
| parent_permlink | cryptocurrency |
|---|
| author | pseudokoo |
|---|
| permlink | covesting-on-primexbt-up-to-1-800-roi-while-you-sleep |
|---|
| title | "Covesting on PrimeXBT - Up to 1,800% ROI While You Sleep" |
|---|
| body | "
Gone are the days where <a href='https://coinmarketcap.com'>cryptocurrency traders</a> can rest on their laurels and be satisfied with lesser amounts of profit then they should be getting, with competition in the marketplace now meaning that searching for newer and better ways to maximize profit is critically important.
After cryptocurrency traders have had to wait for many years for social trading to finally become a reality in the market, covesting has grown over the past few years to becoming a multi-million dollar sub-sector of the cryptocurrency market, and has opened up unique opportunities for traders to generate higher levels of profit.
With the recent integration of covesting into the world's leading multi-asset margin trading platform, <a href='https://primexbt.com/'>PrimeXBT</a>, we’re taking a deeper look at covesting, and how users able to generate up to 1800% ROI while they sleep, as opposed to spending all day watching charts and generating significantly lower profitability.
<h2>What is Covesting?</h2>
.jpeg)
<a href='https://primexbt.com/covesting'>Covesting</a> is the only form of social trading available in the cryptocurrency market, and allows diverse groups of crypto traders to collaborate together in ways that collectively lead to their profits increasing as a result.
The structure of covesting is for traders known as “strategy managers” to create peer-to-peer investment funds which publicly-display the performance of the fund for potential investors, known as “followers”, to use in order to analyze different funds and make investment selections.
In return for generating profit for the followers, strategy managers are rewarded with success fees of 20% of all of the profits that they generate for the followers of their fund, with this leading to the incentivisation of strategy managers, as well as followers knowing that the funds they <a href='https://www.investing.com/'>invest</a> into will be optimized for the maximization of profit.
<h2>Where is Covesting Available?</h2>
Covesting was originally launched on <a href='https://covesting.io'>Covesting.io</a> in 2017 when the project was founded and went through a funding phase that led it to raise more than $18 million.
Over the past few years since then, Covesting.io has worked tirelessly to develop the technology that is required to bring social trading to the cryptocurrency market for the first time, and more recently it has been announced that Covesting.io has partnered with the largest cryptocurrency margin trading platform in the world, PrimeXBT.
The partnership between Covesting.io and PrimeXBT has brought covesting to the users of PrimeXBT, and this is the first time that this new form of social trading has been exposed to a wider market, and has been a source of excitement for both users of Covesting.io as well as PrimeXBT.
<h2>The Success of the Covesting Module Beta</h2>
Earlier this year it was announced that beta phase of <a href='https://primexbt.com/blog/how-much-can-i-make-with-covesting-full-launch-announced/'>PrimeXBT’s Covesting module</a> was launched in April, and over the following 4 months, traders had to access the majority of the functionality of the Covesting module, as well as taking in a large amount of feedback and data that was used by PrimeXBT to optimize the module.
During the 4-month beta phase, more than $1 million worth of equity was raised by followers and invested into different funds, with this representing the high demand for social trading that is present and unmet within the cryptocurrency market.
Also, the most successful funds throughout the beta phase generated more than 1800% ROI for their followers, with this being significantly higher than what is typically available for traders in the cryptocurrency space.
<h2>Earning up to 1,800% ROI While You Sleep</h2>
For many cryptocurrency traders, even being able to consistently generate profit is difficult in itself, in particular for less experienced traders that have been in the cryptocurrency market for a short period of time.
While these traders can find it difficult to generate profit, in a sick twist of irony they may also spend all day staring at charts, increasing their level of stress, and taking away from other areas of their life.
However, PrimeXBT Covesting module opens up the opportunity for traders of different experience levels to be able to access same levels of profitability as the top performing traders in the market, and while doing so also freeing up their time and reducing the stress by allowing them to have a hassle-free and hands-off approach to trading for the first time.
<h2>Advantages for Strategy Managers</h2>
There are a wide range of advantages for strategy managers at PrimeXBT, and in particular, strategy managers that have the ability to reliably generate profit are often the ones that see the greatest rewards from using the Covesting module to increase their profitability.
PrimeXBT’s Covesting module provides direct access to a pool of capital, where investors are actively seeking opportunities and there is no requirement for outreaching to them, with this being the first time that a streamlined, flexible pool of capital has been available in the cryptocurrency market on a peer-to-peer level.
Successful strategy managers are also able to boost their income by taking a 20% success fee on all of the profits they generate for the followers, with this meaning that without the need to increase their own personal amount of capital exposure they can increase the profitability of the trades that they are making anyway by using the capital of others to work for them.
<h2>Advantages for Followers</h2>
Followers at PrimeXBT’s Covesting module enjoy a wide range of advantages that are uniquely available on the platform, with the ability to simultaneously reduce risk and increase profit being a major draw card for many followers.
Inexperienced traders that typically encounter losses are able to leverage the market knowledge of experienced veterans, and by paying a 20% success fee are often able to generate significantly higher levels of profitability on the cost of doing so.
Never before has there been direct access to the strategies used by the best traders in the cryptocurrency market available to traders who may have only been in the market for a week or a month, and whereas normally there is a period of many months or even years were new traders need to build the experience not to generate losses in the market, this entire process can be sidestepped by using by PrimeXBT’s Covesting module and the abilities of experienced traders.
<h2>In Summary</h2>
While social trading has been a major subset of the traditional Asset market for many years, within the cryptocurrency space that has never been a project that provided social trading in the way that has been done so by Covesting.io over the past 3 or 4 years.
The partnership between Covesting.io and PrimeXBT to bring covesting to the latter has been wildly successful, with the 4-month beta phase of the Covesting module seeing more than $1 million worth of equity provided by followers, as well as up to 1800% ROI generated by the best strategy managers on the platform.
To learn more about covesting on PrimeXBT, the advantages of doing so for both strategy managers and followers, and how to get started, check out <a href='https://primexbt.com/covesting'>PrimeXBT’s Covesting module</a>." |
|---|
| json_metadata | {"tags":["cryptocurrency","crypto","bitcoin","investing","trading"],"image":["https://cdn.steemitimages.com/DQmV5kNo5TzYSQkAJxBeRov2Vcp9HDhtBFn119MqWZXeNPa/en-6-1409.png","https://cdn.steemitimages.com/DQmTfHzCmHoTyCsaRiijQXKT67TzoVXCpcdMPqsp41qtpnW/1_-sqZHZWL3LWBeT3TK3HTbg%20(1).jpeg","https://cdn.steemitimages.com/DQmTSGyycj7QqQN6gCEqVbdXMzXaKZNJqfiVZQUBuq2bpi2/Screen%20Shot%202020-08-22%20at%201.48.52%20pm.png","https://cdn.steemitimages.com/DQmdNbnb15iwSSr1riRVbvdaFofK712w211f1n48DHidGbU/Screen%20Shot%202020-08-22%20at%201.50.55%20pm.png","https://cdn.steemitimages.com/DQmPvuwSQh6RNqeGH6WAhQF4Z56hQqWANKAr5RhwfPi4qUe/1_2rQ_MLgROdwxmTY-Jhk8SA.jpeg","https://cdn.steemitimages.com/DQmd2RNhnhJuCp8qKURfLEVtT9BWFkaNjCZHA1f8B9TMwbT/Screen%20Shot%202020-08-22%20at%201.49.25%20pm.png","https://cdn.steemitimages.com/DQmWus3ko5joJVxDieRN4gpgrntsVFTEJZbpd36iNDR5SqV/Screen%20Shot%202020-08-22%20at%201.48.30%20pm.png"],"links":["https://coinmarketcap.com","https://primexbt.com/","https://primexbt.com/covesting","https://www.investing.com/","https://covesting.io","https://primexbt.com/blog/how-much-can-i-make-with-covesting-full-launch-announced/"],"app":"steemit/0.2","format":"markdown"} |
|---|
|
|---|
|
|---|
|
|---|