PrimeXBT is surely amongst the foremost cryptocurrency exchanges, but unlike many of its rivals, the platform also promotes the trading of legacy business products such as assets, stocks, and forex. The platform is strong and spontaneous and gives all the essential tools to maintain and fulfill orders and interpret market data. This post is all about a more extensive look at what PrimeXBT is and its most robust feature, Covesting.
What is PrimeXBT?
PrimeXBT has quickly progressed to becoming a pilot in the cryptocurrency market as an outcome of advanced tools and innovations that it gives to its uses. PrimeXBT started as a margin trading-focused platform that gave the most eminent levels of support possible on the market then and is mainly responsible for spreading crypto margin trading.
Today, the PrimeXBT platform has developed various influential partnerships with other significant trading platforms in the cryptocurrency world and has grown as one of the most important trading platforms for cryptocurrency and traditional asset users.
Covesting Module: A Powerful Feature of PrimeXBT
In April 2020, PrimeXBT launched the Covesting copy trading. Copy trading is a tool that enables users to follow and copy the trades of major PrimeXBT traders with plenty of tools at their end. In this, users can Copy the most beneficial in the trading community, and make a profit from their knowledge, skill, and gaining tactics. In other words, by copy trading, users can be receptive market shareholders instead of allowing professional traders to execute their tactics on their behalf.
The Covesting module allows skilled traders to design strategies for investors to catch. Using publicly available profit metrics, followers can pick a strategy and invest assets into the best traders’ trades from around the world.
Covesting is a unique peer-to-peer copy trading module that unites new traders or amateur investors that wouldn’t contrarily trade with experienced traders and expert strategy managers from around the world trading community. Covesting is possible particularly on PrimeXBT currently.
Copy Trading On Covesting
As mentioned earlier, Covesting allows users to “Follow” any of the possible “Strategies” placed on the global rating system. Followers choose a reliable and useful strategy to catch and add assets in just a few clicks. The platform allows followers to follow various strategies at once to create a profit-generating portfolio of expert traders. Strategy managers trade with the strength of their own assets, coupled with the attached assets invested by followers, interactively supporting ROI. The Covesting copy trading module is open for free on PrimeXBT to all users, by hitting the Covesting tab within the private account dashboard. Or users can hit PrimeXBT.com/Covesting to learn more.
In this, followers have the most to earn from the Covesting platform. Followers need to simply invest assets, with a very short time required as opposed to expert traders. The latter use hours searching price charts, taking notes in a trading diary and planning about the next significant move. Followers can avoid the requirement for technical analysis and alternatively pay heed to easy-to-read and completely understandable profit and risk metrics in the Covesting rating method.
Followers can grow profits, first and foremost, by mirroring the correct strategy. From there, as comfort establishes, and they become more accustomed to the Covesting platform, earnings can rise faster by obeying more than one strategy. Hopping around from strategy to strategy can also be a successful strategy, so long as each new strategy tracked is as prosperous as the past.
How Covesting Module Converted $400,000 Into $8.5 Million in 4 Days?
Here is the latest example of the users who followed the “Satoshi Bets” strategy on the Covesting Module. A strategy with a total return of over 1,800% that turned $400k into nearly $8,000,000.
Congratulations to all the users who followed the "Satoshi Bets" strategy on the #Covesting Module. A strategy with a total return over 1,800% that turned $400k into nearly $8,000,000.
ℹ️ Please note that copy-trading can be risky pic.twitter.com/n7iCDB1SfW
— PrimeXBT (@PrimeXBT) February 9, 2021
A trader, on the platform PrimeXBT, lately had a triumphant track that profited him a total income of over 1,800%. Nevertheless, where it becomes exciting is that using copy-trading, followers of the trader — Satoshi Bets — succeeded to benefit from his strong run by converting $400,000 into $8.5 million in a matter of days.
Here, the PrimeXBT’s Covesting Module provided not only those followers of Satoshi Bets to benefit from his unbelievable run, but the trader himself succeeded to draw $1.7 million just in Success Fees.
https://twitter.com/VirtualQuery/status/1359082733742526465?s=20
The strategy, which lasted for four days, influenced some people’s lives. Many people joined the PrimeXBT Covesting Module Telegram group.
https://twitter.com/COVReport/status/1359804052972863492?s=20
The Covesting community is expanding as a result of this! Check it out for yourself by clicking the link to the Covesting Telegram channel.
The benefit for the followers of Satoshi Bets, and the trader himself, is proof of the possible rewards that arise from copy-trading and the application of a compelling platform, or module. The module in the case of PrimeXBT enables users who can join the trading platform the possibility to follow proven trading champions. The interesting thing here is that there is no obligation for economic or trading skills, as all the hard work and trading choices are made by full-time traders. These sorts of modules have built powerful community trading conditions as the traders themselves are also rewarded for their excellent work.
Conclusion
Covesting is an excellent tool for both seasoned traders and newbies. It includes significant risk, however. Do your own research and join the Covesting community, as they are very helpful and supportive. Covesting is a great medium for amateur traders supporting them not to avoid the market movements by following expert traders. Some of the Covesting funds manifest unbelievable profitability. It is also an exceptional tool for skilled traders to gain fame and recognition while earning extra money from success fees. One thing to remember here is that the following strategies on the Covesting copy trading module involve risk. So, please make your own research before following. The good thing here is that there is an abundance of tools that will enable users to pick a strategy to follow based on their risk appetite.