Covesting: The Perfect Social Trading Platform For Crypto Newbies

Covesting

There is not a soul on the face of this planet that doesn’t want to make money.

Isn’t that right?

But making money online is a different ball game, and when you talk about earning money from cryptocurrencies, it is even more challenging.

Well, challenging because you need the right set of tools and the mindset to trade in cryptocurrencies.

That’s why here at CoinSutra we keep recommending you some of the best tools that you need to trade cryptocurrencies.

And to do that, cryptocurrency exchanges are very integral, plus, there is a unique trend of social trading.

Social trading makes it possible for crypto investors, who don’t understand the charts and other things, to invest successfully in cryptocurrencies. That is because not everyone is good at using these tools. Therefore, you need a collaboration of investors and traders to make the most out of it.

Covesting is one such product. It does these two jobs by providing a highly competitive exchange for traders as well as the social trading environment for investors.

In this fundamental analysis of Covesting, we will discuss:

  • What Is Covesting?
  • How Covesting Works
  • COV Token Utility
  • Covesting Team
  • COV Token Supply & ZRX Market Cap
  • Where To Buy COV Token 
  • COV Token Wallets
  • COV Usecase & Conclusion
  • Official COV Resources

What Is Covesting?

Covesting is a secure and intuitive trading platform which makes it possible for both beginners and professionals to trade cryptocurrencies smartly.

It is a mutually convenient platform for both traders and investors where traders support investors and investors reward professional traders for their support.

In a way, it is a win-win situation for both. Every investor cannot be a full-time trader and vice-versa.

How Covesting Works

How Covesting Works

Covesting is not merely an exchange but a complete trading platform which gives its users access to high liquidity for selected cryptocurrency pairs, advanced tools, and social signals mechanisms to maximize their profits.

According to the whitepaper, Covesting is a platform for investors and cryptocurrency traders who are looking to utilize the most advanced trading tools and technology, as well as the combined wisdom of the community in order achieve maximum returns in cryptocurrency markets.

The Covesting platform is the ultimate venue where successful digital asset traders meet new investors, in a transparent, safe and efficient peer-to-peer investment environment. Investors from around the world can compare the performance of hundreds of successful cryptocurrency traders and mirror their trades automatically to their account.

While traders benefit from success fees generated by profitable trading – investors enjoy peace of mind knowing that their funds are following a model of an industry professional in the comfort of their own account.

It’s like a thousand of traders all working for you!

For this, Covesting has raised its ICO and distributed its COV tokens to make a state-of-the-art trading infrastructure for its users. There are many other benefits of the same that we will discuss later in the article.

COV Token Utility

COV Token Utility

COV token is an integral part of the Covesting platform.

COV unlocks many trading and investment opportunities for token holders. Some of these utilities and features are:

  • COV holders will be able to follow professional crypto traders on the Covesting platform.
  • One can get a 50% trading fee discount by paying in COV.
  • Also, COV holders will be able to unlock algorithmic trading and abitrage bot features on Covesting.

Also, the COV tokens, which are ERC20 tokens, will be repurchased for 50% of all platform earnings and burnt regularly to increase the value for its token holders.

This is a simple demand and supply rule which Binance has also applied and has been very successful so far.

Covesting Team

Covesting team has some real members, and their team comprises of more than 25 people including software developers, IT security specialists, designers, analysts, traders, support professionals, and blockchain experts who want to raise the standards of cryptocurrency trading.

Here is a sneak peek into some of its team members:

Covesting Team

COV Token Supply & COV Market Cap

Covesting had its ICO in December 2017 where it sold 20 million COV tokens for approximately $33 million.

According to CoinMarketCap, the current supply is 17,500,000 COV, and the current price of each unit is $0.78 that values it at approximately $13.8 million (at the time of writing this article).

 

Where To Buy COV Token 

Buying such ERC20 tokens is not a problem because the concept is quite well understood and received in the industry. That’s why you will find this token on a lot of big exchanges like:

  • KuCoinSupported pairs are COV/BTC, COV/ETH
  • IDEXSupported pairs are COV/ETH
  • YoBit: Supported pairs are COV/BTC

COV Token Wallets

Being an ERC20 token is another easy thing to do for adoption as you almost get ready-to-use wallets in the market. So you have plenty of options for storing your COV tokens safely. Some of these options have been listed below and will help you keep your COV safe.

Covesting Usecase & Conclusion

Covesting platform can have multiple use cases with time as cryptocurrency trading space is just starting off.

Even today, some of Covesting’s features are rather outstanding. When they launch in a full-fledged manner, you should see a lot of traction coming here.

They have also launched their exchange platform and plan to complement it with mobile apps soon.

Moreover, they have the algorithm trading and arbitrage bot on their roadmap which is very exciting indeed.

I feel the market needs more solutions like Covesting where traders and investors can collaborate and take the cryptocurrency trading/investing to the next level.

Plus, Covesting is also rolling out Covesting Community Contests which should help in spreading the word about it. At the same time, I will be happy to see a comprehensive roadmap of their plans, which I couldn’t really find anywhere.

Well, that is all from my side in the introduction of the Covesting project. I will be back soon with something more interesting.

But if you are super excited to use Covesting right now, go ahead and try out their beta trading and social trading.

Covesting Trading

As of now, you will find the following currencies trading on Covesting, which is enough for a new trading platform to start with:

  • BTC/USD
  • LTC/BTC
  • ETH/BTC
  • XMR/BTC
  • DASH/ BTC XRP/BTC

I hope this detailed analysis helps you in making a right decision. Share your take with us in the comments below!

Official COV Resources

Below are some links that will keep you updated about Covesting:

If you like the post, please share it with your friends and family on social media! 

Here are a few more crypto-trading services that you should know about:

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Howdy, Welcome to the popular cryptocurrency blog CoinSutra. Here at CoinSutra, we write about Bitcoin, wallet management, online security, making money from Bitcoin & various aspects of cryptocurrencies. You can read more about CoinSutra on the “About” page.
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