Covesting is a copy trading software from PrimeXBT. This simple solution is a great choice for both experienced and new traders. The first one can make passive extra profits, while their followersfollower can earn and learn how to trade by following advanced strategies.

The PrimeXBT copy trading platform makes online trading almost 100% automated for those who follow others’ strategies. They don’t need to conduct technical analysis, study different data, and or do other things that online traders usually do. They can just find a reliable trader with a proven track record and copy his or her deal. The system will automatically trigger them, so the involvement of the follower is minimum.

Curious about how the copy trading module on PrimeXBT works? You can learn this from the official YouTube channel.  

Or let’s get familiar with its core features right now.

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About the Covesting copy trading module

Everyone is looking for the simplest ways to make money online. We are sure you are reading this review with the same purpose. However, making money online isn’t as easy, especially in the crypto market. You have to examine a lot of information, constantly follow the news, and make deep analyses. Everything canmight be made easier with thise quality copy trading platform.

PrimeXBT Covesting was designed mainly to help beginners to get started. With this solution, newcomers can see how advanced traders work and make money at the same time. Your only duty on Covesting is just to choosetry a top-performing trader to follow.

Choosing a good trader isn’t a big issue on this crypto copy trading platform. Covesting has an advanced filtering system that allows to sort out the participant by their performance. You can study their track records, the profitability of the offered strategies, and other important statistical data.

PrimeXBT is a crypto exchange known for its transparent fees policies. The platform doesn’t charge hidden fees or extra commissions for making deposits. Some services are completely free. That’s why PrimeXBT is appreciated as a platform that minimizes the additional expenses for its users. The same principle is applied to those who prefer working through the Covesting crypto copy trading software.

Profits of strategy managersdevelopers and their followers

It’s important to note that not only new traders can make extra profits on the Covesting crypto platform. Every client of the exchange can develop a strategy and become a manager, sharing this strategy with other users. To develop your own Covesting strategy, you should take the following steps:

  1. Create/Enter your Covesting account.
  2. Go to the “My Strategies” section.
  3. Click on “Get started”.
  4. Name and describe your strategy.
  5. Allocate your funds from the wallet.
  6. Click the “Create Strategy” button and confirm your action.

If people like your strategy and start following it, you will make a 20% success fee from the general realized profits of your followers.

Strategy developers always get a 20% fee from the profits, while the profits of their followers might be different. Usually, on Covesting they vary between 60% and 75% of the total amount. The remaining percentage goes to the platform.

Covesting – the best copy trade app

These days, it’s important for traders to have the possibility to access their account at any time and any place. PrimeXBT offers advanced mobile trading applications that are supported by both iOS and Android operating systems. The apps don’t limit users in terms of the availability of trading tools. Alongside conducting technical analysis, you can also access the Covesting module. The functional features and the filtering capabilities are almost identical, which isn’t common for copy trading platforms.

Pros and Cons

There are no online trading services that are 100% perfect. That’s why, before you start trading through Covesting, we recommend you get familiar with both the advantages and disadvantages and disadvantages of the service.

Pros:
  • Great selection of trading strategies. The more options you have, the betterigger your chances to find the one that suits you completely. Besides, on Covesting you can find traders with different trading styles. They might speculate on cryptocurrencies, forexign exchanges, commodities, and even stock indices.
  • Covesting offers a high Return on Investment rate. This increasesincrease the chances to make profits for both strategy managersdevelopers and their followers.
  • Covesting has an advanced filtering system. You can sort out the traders not only by their assets and styles. It’s also possible to see how long they have been on the platform, how profitable their deals are, etc.
  • It’s a great instrument of passive income for both advanced and beginning participants.
Cons:
  • Limited exposure to cryptocurrencies.
  • If you start copy trading, it’s better to choose strategies with higher investments. While increasing potential returns, it also increases the risk of losses.

Final thought

Covesting is a good crypto copy trading platform. This solution will make your trading process automated. Use your trading knowledge and skills to make extra passive extra income or benefit from the strategies of other users.