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Trading crypto can be quite a stressful and intimidating experience, especially for inexperienced people.
Trading crypto is interesting and exciting but it also comes with some serious risks. Potential or new traders need to familiarize themselves with several aspects first such as, choosing a suitable trading platform, learning how to read the charts, knowing how or why the market moves and more.
While it takes plenty of time and practice for people to become expert traders, the profits are still not 100% guaranteed. This is because the crypto market is susceptible to several influencing factors.
Covesting Definition
To make crypto trading easier and less stressful for novice traders or people who want to trade while on the go, a unique feature is available called Covesting.
This brief guide can help you get a better understanding of what the Covesting feature is and where it is available.
On the other hand, margin traders can trade Bitcoin and Ethereum with up to 100x leverage on Bybit. Use this link to sign up and earn a free bonus on your initial deposit.
Bybit users can now also opt for copy trading on the platform. You can learn more about it here.
What is Covesting?
Covesting is a copy trading module that was developed by a fintech software firm of the same name based in Europe. It is an exceptional peer-to-peer module that is licensed to B2B partners all over the world. It is exclusively available on PrimeXBT, which is one of the most well-known cryptocurrency exchanges in the crypto market.
Covesting was fully launched in 2020 and gained massive popularity and commendation from the crypto community, thanks to its leading-edge technology. However, before the launch, it was first released as a public beta after it went through multiple iterations.
This distinctive copy trading module connects inexperienced traders and investors with professional traders and experienced strategy managers from the crypto trading community.
What is Meant by Copy Trading?
Copy trading, as the term suggests, allows new and inexperienced crypto traders to automatically copy the trades of expert traders. This also means that any profits or losses, as a result of the trades placed, will be the same for the expert traders and the novice traders copying them.
Read: FNDZ Review – Crypto Copy Trading Platform
This is a remarkable feature for people who are either too new to the crypto space or have a demanding schedule but still want to trade. The benefit of copy trading is that traders do not have to go through the hassle of analyzing the market and tracking micro movements to find a potential trade.
How to Access the Copy Trading Module?
Copy trading is a more efficient way of moving ahead in the trading community for novice traders if done right. If inexperienced traders do not have the time to learn everything about trading, they can simply follow or copy the trades of an expert who has a successful or prominent portfolio.
As mentioned above, Covesting is available on PrimeXBT.
Therefore, if you are tired of the hassle that comes with technical analysis, PrimeXBT Covesting allows you to mimic experienced traders. Sign up with our link today.
You can also check out our full PrimeXBT tutorial and review below.
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