Holders Of COV Now Get Higher Profits As Token Utility Grows on PrimeXBT

February 17, 2022
Reading Time: 2 min
Holders Of COV Now Get Higher Profits As Token Utility Grows on PrimeXBT - Blog 17 02

We are continuing to take the Covesting Token (COV) further with added utility. Now, for those Followers who are holding COV, they will receive higher profit distribution depending on their COV membership tier rather than initial following equity.

The COV token can thus help boost your copy-trading profits on the Covesting copy-trading module depending on which membership tier you find yourself on. This is another step in our roadmap for the COV token having previously released COV denominated strategies and COV margin trading accounts.

Get Better Results in Copy Trading

Copy trading is a powerful tool that allows newcomers to benefit from the experience of other traders. Through the Covesting Copy Trading module, users can choose highly ranked and successful traders and copy their trading activity automatically and make the same returns as the best traders on the platform.

To further incentivise and motivate traders to perform we have introduced revenue sharing with the standard conditions being that traders get 20% of all profits generated for their followers, while platform charges another 20%, and the follower keeps the remaining 60%.

However, this new update means that followers who have COV tokens on their account will enjoy higher (up to 75%) revenue share from all profitable trades.

In order to apply for this, users have to select a membership plan and lock the required amount of tokens in their account. You can see the membership options below.

Holders Of COV Now Get Higher Profits As Token Utility Grows on PrimeXBT - Picture1

Holders Of COV Now Get Higher Profits As Token Utility Grows on PrimeXBT - Picture2

This new update significantly boosts profitability in the module, but it also adds a huge amount of usability for the COV token and will also lead to a boost in the demand for it.

With this latest update, strategy managers – or traders – will be able to benefit from their COV membership as well. Elite members will receive 25% instead of a standard 20% revenue share from all profitable trades.

Join our community to discuss latest market trends, products, trading ideas and much more: https://t.me/PrimeXBT_English

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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