Successful cryptocurrency traders will soon be able to massively leverage their returns without exposing themselves to any more risk.
How is the possible?
Thanks to model trading through the COVESTING platform.
With COVESTING traders will earn 18% of the profits from any traders that choose to replicate their winning trades.
Traders who are able to show a record of successful, winning trades should be able to attract a large following and in turn receive profits from everyone who is following them.
COVESTING isn’t just good news for uber cryptocurrency traders as well. The platform is designed to enable new cryptocurrency traders to play with the whales and not lose their skin.
By using model trading they will be able to enjoy an automated way to trade alongside the best in the business.
The entire process is actually very straight forward. Successful traders who want to attract a following simply need to add their existing trading accounts to the COVESTING platform using an API.
Once they have done this they are all setup. They can decide whether to keep their trading private while they are building up their success record or make it public straight away.
All of that traders trades are recorded in a model. Because the information comes directly from the exchange that the trader is using it isn’t possible to fake or inflate the data.
Getting started for traders who want to emulate other successful traders isn’t any harder either. In order to model another traders trades they simply need to follow that trader and choose how many of their funds should be used.
Once they have done this COVESTING will automatically execute trades which mirror those of the trader which is being modelled. Traders following another trade will pay fees of 18% to the successful trader on every profitable trade and a 10% commission to COVESTING.
Powering the platform will be the COVESTING token called COV. This COV token is a utility token. When a modelled trade is successful the investor will receive the profits from the trade in COV. The more successful trades which are executed the more the person COV balance will increase.
The value of COV tokens should rise in relation to usage of the COVESTING platform. As there are more successful trades their will be more purchases executed for COV.
COV tokens will be distributed as a token sale. Token sale will be divided in a pre-sale and main sale. During the pre-sale there will 1,500,000 COV tokens distributed. During the mainsale 2,500,000 tokens will be distributed. The remainder of the tokens available will be shared among the founders of the COVESTING platform. These will be locked in a smart contract for a period of three months.