What is cryptocurrency Covesting (COV) – How Does it Works? (Easy To Understand)

What is Covesting (COV)? – Friends, being interested in the field of cryptocurrency, you are somehow connected with trading. Indeed, in most cases, you use cryptocurrency exchanges to buy cryptocurrencies, for which you get fiat currency or BTC, for which you later buy other coins and tokens. But there are people who know how to make money on changes in exchange rates, their activity is called trading.

What is cryptocurrency Covesting?

Cryptocurrency COV is a digital token of the platform for trading cryptocurrencies, through which users get access to the functionality of Covesting, in particular to connect to traders. This project is based on the Ethereum blockchain, which means COV works on the ERC20 protocol.

Developers will be released 20 million tokens, which are distributed as follows:

  • 1,500,000 sold during pre-ICO;
  • 15,000,000 sold during the ICO;
  • 1,000,000 went to PR, Bounty and Consultants;
  • 2,500,000 left to the team.

Covesting platform features

Covesting is a platform that combines cryptocurrency trading in one place, technology for copying transactions from professional traders and a convenient opportunity to replenish your account with fiat and cryptocurrency. Therefore, Covesting is the perfect combination of traders, investors and fund managers.

Let’s talk in more detail about copying deals on Covesting. This service is available from most brokerage companies. But due to the fact that users’ confidence in broker companies is somewhat undermined, such sites have a chance for prosperity. Having become an investor in Covesting, in the traders rating presented by the platform, you can choose the most suitable for you and connect to it. By the word connect, we mean that the trades made by the trader will be copied to your account, this is called “Copy Trading”.

From the income received, you will receive 72%, and the rest of the money will be distributed according to the following principle:

  • 18% commission for success;
  • 10% platform fee for providing the opportunity.

Covesting prospects

CoV Token Allocation

We will look at the prospects of the Covesting project through the prism of 2 factors: a team of developers and their expectations. Let’s start. The Covesting project team for the most part consists of citizens of the Russian Federation. With all due respect, but we don’t strongly trust the projects where the names of our fellow citizens are with you, therefore, we will put “-” against the “Team” item. As for the Covesting plans, it’s stated in the project’s roadmap that from February 2018 they will start the development of a leading copy-trading platform. But at this point they made a mistake, which is unforgivable for a project with such goals.

Before turning to a more detailed overview of the “promotional” way of Covesting, we want to say that up to this point we have not heard anything about this project, and we are trying to be in the subject of the market. But after analyzing the section of the media site about us, we were convinced that the project developers are not very much moving towards the stated goal. After all, publish on the 1st news per month, this is not the level of marketing that a project should have with imperial ambitions.

Although, maybe the team has a clearly planned promotion plan, and the time has not yet come.

Where to buy cryptocurrency Covesting?

On the CoinMarketCap website it is indicated that Covesting tokens are listed on 3 cryptocurrency exchanges, then trades occur only on one – KuCoin. The average daily trading volume of a cryptovalty COV is 40-50 thousand dollars, with more than 15 million capitalization.

The cost of one Covesting token is 89 cents, and the maximum figure was $ 1.65.

Conclusion

Friends, you can find out more information about the capabilities of the Covesting platform on their official website – covesting.io, it has a Russian-language interface. Well, this is not strange.