The COVESTING platform is the ultimate venue where cryptocurrency traders and investors find each other and create a transparent, safe and efficient investment environment. Investors from around the world can compare the performance of hundreds of professional crypto asset managers, mirror their trades automatically and profit together.
Here you will find answers to the most frequently asked questions.
What is COVESTING?
What is the mission of COVESTING?
The mission of COVESTING is to help investors from around the world become more knowledgeable and benefit from all opportunities offered by the cryptocurrency market by implementing peer-2-peer asset management concept.
What is peer-2-peer asset management?
Peer-to-peer asset management is a newly brought concept to the cryptocurrency markets by COVESTING. P2p asset management (or copy-trading) is the practice of sharing investment strategies between unrelated individuals, or "peers", without going through a traditional financial intermediary such as a bank or other collective investment management vehicle.
Is peer-2-peer asset management for everyone?
A peer-2-peer asset management platform is an ideal investment vehicle for novice traders looking to gain market knowledge by copying the trades of more experienced colleagues. Investors who don’t want to miss the opportunities provided by booming cryptocurrency markets, but lack time and experience, can search for a transparent and safe solution with a successful asset manager. For traders, peer-2-peer asset management is beneficial since it provides a source of additional income.
How is COVESTING beneficial for investors?
Investing in cryptocurrency requires experience and can be a very time-consuming journey, especially for someone who has a full-time job not related to technology or the online trading industry. The learning curve for investing in cryptocurrency is extremely steep and experienced digital asset managers are in the best position to fully benefit from arising opportunities offered in the blockchain revolution. The Covesting platform allows everyday investors to search and compare the performance of hundreds of proven cryptocurrency traders and mirror their trades automatically. It’s like having hundreds of traders work for you.
How is COVESTING beneficial for me if I’m a trader?
COVESTING helps investing talents bring their trading results in front of the public and compete with other traders in an equally-fair environment. With the COVESTING platform, every “street” trader can start a career as a digital asset manager by allowing other members to subscribe to their strategy and earn additional income.
I’m a trader and I’m profitable, why do I need COVESTING?
The COVESTING platform is a unique tool to leverage profits for successful traders. Model Managers are rewarded with 18% success fees from all profits generated by their subscribers. The more successful the trader is, the more subscribers he/she will be able to acquire and the more money they can make from profitable trading.
I’m a trader, but not a professional, can I still benefit from COVESTING?
COVESTING is not only a copy-trading platform but also a knowledge portal, where novice traders are able to communicate with successful digital asset managers and acquire knowledge necessary for trading. They can also follow trading ideas posted by community members, and subscribe to those whose trading strategy suits their risk/reward expectations. Novice traders are able to find a mentor, whose trading style matches their own view of the market and develop further as a trading professional, replicating trades and participating in trading discussions.
I’m new to cryptocurrencies, how can I start?
The COVESTING platform is a one-stop solution both for industry experts, and people who are just starting their journey to the world of cryptocurrency trading. On the COVESTING Crypto Intelligence Portal, you will be able to find well-structured educational material that will provide knowledge and experience, as well as trading ideas, latest news and market analysis which helps to build a necessary knowledge base. Apart from that, COVESTING offers a unique concept of p2p asset management where investors can find and subscribe to the trading strategies provided by hundreds of experienced traders and they profit together!
How do you join COVESTING?
You can join COVESTING either as a trader or investor. Please fill out the application on the website and follow the instructions. Registration is necessary for all members.
What is the minimum deposit?
The minimum deposit is the equivalent of $100 which can be deposited in COV, ETH or BTC.
How do I deposit money to COVESTING?
You can transfer BTC or ETH to you account, however, subscribing to a Model Manager is only possible with COV tokens. COVESTING also plans to offer deposits with fiat currencies on a later stage.
Where do I get COV tokens?
COV tokens would be available for purchase inside the COVESTING platform or on any exchange where COVESTING token is listed
What is a Trading Model on the COVESTING platform?
A Trading Model is a strategy created by a trader, registered on the COVESTING platform. Trading Models can be easily created by linking an existing trading account at an external cryptocurrency exchange through an API.
Who is a Model Manager on the COVESTING platform?
A Model manager is a user who creates a trading Model on the COVESTING platform and links it to external trading accounts at any supported exchange, through an API. From that moment, tracking of all trading activity starts and the Model becomes available for subscribing.
Who can create a trading model?
Trading Models can be created by a trader registered on the COVESTING platform.
If I’m a trader, do I need to trade on COVESTING or am I able to use my existing trading account?
You can use an existing trading account at any of the exchanges supported by COVESTING and continue trading in the comfort of your own account, while receiving success fees (18%) from all income generated for your subscribers.
Subscribing to a Trading Model
What does it mean to “subscribe” to a trader?
When an investor starts subscribing to a trader, all trading activity is automatically replicated to the investors segregated account at COVESTING. So investors income will be similar to the traders income percentage wise.
How do I search for a trader?
Investors can search and compare the performance of hundreds of proven cryptocurrency traders using the search tool in the COVESTING platform. A search can be done on various parameters of trading statistics such as profitability, maximum drawdown, number of winning trades, length of experience, and trading strategy.
How do you pick the right trader to subscribe to?
The process of picking the right trader will depend on the investors risk tolerance, investment objectives and many other factors. Performance history is provided as well as a detailed description of each strategy.
Can I contact a trader?
Direct messaging will be provided on the COVESTING platform so investors can ask questions regarding trading strategy directly to traders.
How do I start subscribing to a trader?
Subscribing to a trading model can be started by the click of a button. Choose the amount of capital you wish to allocate for the chosen strategy and click “Subscribe”. From this moment, all trading activity of a chosen strategy will be automatically replicated to your account at COVESTING.
How do I stop subscribing to a trader?
Unlike traditional asset management services, we provide investors with complete control over their assets. Investors can unsubscribe from strategies at any time. Unsubscribing from a Trading Model can be done in the click of a button. Just click the Unsubscribe button in the investors strategy dashboard window, and all positions will be terminated and assets returned to your wallet.
How many traders can I subscribe to at the same time?
Each investor can diversify their investments by subscribing up to 20 different Models (traders) at the same time. Such diversification allows investors to be uniquely positioned to record gains across multiple crypto trading strategies and protect themselves against massive losses in any single cryptocurrency.
Where can I see my open trades and manage them?
All open trades in a certain trading model can be found in the investors strategy dashboard window.
Do I need to transfer funds to a trader?
To provide security and peace of mind to all investors – we offer segregated accounts for each user within the COVESTING Platform. None of the funds go directly to a chosen trader. All replicated trades occur on the investors account.
How is profit shared between investors and traders?
When a Trading Model results in profit for the subscribed investor, income distribution will look like this:
- Success Fee - 18% of all profit will be transferred to the Model Manager’s wallet;
- Platform Commission - 10% of all profits and will be automatically credited to the COV Asset Contract;
- The remaining 72% shall be credited to the investors wallet along with the initial investment.
Do I need to pay if subscribing to a Model resulted in a loss?
If subscribing to a Model resulted in a loss, investors are not charged any fees. This is different from traditional asset management firms, who charge a fixed fee no matter of trading result.
Why do you need a token?
COV is a utility token and its purpose is to facilitate services (copy-trading) on the COVESTING platform.
Can I subscribe to traders without purchasing COV?
No, subscribing to traders without the purchase of COV token is impossible.
Can I benefit from platform growth?
COVESTING will allocate at least 50% of all platform earnings to systematic buyback and burn programs. This is the best practice for the COV token economy, and simultaneously serves in the best interest of COVESTING token holders. This should effectively improve the value of COV over time as supply of tokens constantly decrease.