Covesting Strategy Management Now Live In PrimeXBT Mobile App

August 26, 2022
Reading Time: 4 min
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The PrimeXBT development team is constantly working on improvements to all of its products and services, from our award-winning trading platform to our smartphone application and everything in between. 

Since the release of the smartphone app, we have been on a mission to bring all of the platform’s most popular and relied-on competitive advantages to the mobile experience. Given the complexity of many of the tools we provide the trading and investing community, converting powerful experiences into mobile-friendly can prove to be an enormous challenge.

We are proud to announce that one of the mobile app’s most anticipated features –– the ability to create a Covesting strategy and manage strategies using the app – is now live for iOS and Android users.

Introducing Covesting Strategy Management To The PrimeXBT Mobile App

Over the past several weeks, we have introduced an exchange tool, a more intuitive withdrawal process, crypto buying with a credit or debit card, and much more to the mobile experience. 

The latest innovative feature to be brought to the mobile app from the main browser version of the platform is the ability to create and manage Covesting copy trading strategies. Previously, the only way to set up a new strategy manager account or manage existing strategies was to log into the browser-based platform.

iOS and Android smartphone users now have access to this cutting-edge copy trading feature for the very first time, at the tips of their fingers and just a few taps away.

How To Create A Strategy Using The iOS And Android App

To create a strategy, users must navigate to the My Strategies tab of the Copy-trading section of the app. 

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To create a new strategy, tap the “+” icon in the upper-right hand corner of the iPhone screen, then follow the necessary steps:

  • Select the strategy denomination currency. Users can choose between BTC, ETH, USDT, USDC, and COV.
  • Choose a name for your strategy. Include something that is eye-catching or briefly indicates what your strategy is about.
  • Provide a description of your strategy. Write a short summary about the strategy, its goals, risk management strategies used, trading indicators, and more to give potential followers as much intel as possible about the strategy.
  • Input a starting capital amount. A minimum deposit of 0.01BTC or equivalent is required to become a strategy manager.
    • Optionally, users can add links to social media networks for followers to learn more about the trading behind the strategy. Users can also join the Covesting Telegram chat.
  • Complete the process by tapping “next.” After reviewing all of the supplied information, tap “Create new strategy” to finish.

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Users will next be redirected back to the My Strategies tab, where the newly created strategy will be listed alongside any pre-existing copy trading strategies. For more assistance on creating a Covesting strategy, please visit the Help Center topic on the subject.

How To Manage Covesting Copy Trading Strategies

Managing an existing Covesting copy trading strategy is just as simple. By navigating to the My Strategies tab of the Copy-trading section of the mobile app, Covesting users can review a detailed breakdown of each strategy’s performance and choose from various strategy management options.

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Here are some of the available strategy management options:

  • Tap on a strategy to open the individual strategy management page. Here, users can review a plethora of performance metrics, such as total profit, active days, equity, followers, star rating, and much more.
  • Editing the strategy description is possible by clicking on the edit icon. Users can also add social media links or make changes to existing profile URLs.
  • Add a deposit or withdraw funds from the strategy in just a tap. If you are looking to top off the account or take some profits off the table, this is the way.
  • Alternatively, users can elect to close out the strategy. Closing a strategy will close out any open positions and distribute profits to followers accordingly.

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Once you are ready to begin trading with the selected strategy, visit the account section and tap on the “trade” button. For more assistance on managing a Covesting strategy, please visit the Help Center topic on the subject.

Download The PrimeXBT Smartphone Application Now Or Update The Mobile App

To access Covesting Strategy Management for mobile devices, you must download the free PrimeXBT mobile app from the Apple App Store for iPhone or the Google Play Store for Android. If you already have downloaded the app, check for the latest update and tap install.

We are committed to continually improving the award-winning mobile app and the rest of our products and services, so stay tuned to official PrimeXBT channels or the PrimeXBT blog for more information and announcements when new features are ready in the future.

Risk Disclaimer
Investing in or trading gold or other metals can be risky and lead to a complete loss of capital. This guide should not be considered investment advice, and investing in gold CFDs is done at your own risk.
The information provided does not constitute, in any way, a solicitation or inducement to buy or sell cryptocurrencies, derivatives, foreign exchange products, CFDs, securities, and similar products. Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of PrimeXBT. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and derivatives such as CFDs (Contracts for Difference), Non-Deliverable Bitcoin Settled Products and Short-Term Bitcoin Settled Contracts involve a high degree of risk. They require a good level of financial knowledge and experience. PrimeXBT recommends the consultation of a financial professional who would have a perfect knowledge of the financial and patrimonial situation of the recipient of this message and would be able to verify that the financial products mentioned are adapted to the said situation and the financial objectives pursued.

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