Today, PrimeXBT is excited to reveal the launch of an innovative feature that will inspire friendly competition amongst the trading community: the all-new Contests module. This brand new exciting tool allows users to join various contests, trade using virtual funds, and beat other participants by climbing in the leaderboard rankings. 

We plan to host multiple trading competitions on a weekly and monthly basis and offer generous rewards to users who show the highest ROI (Return On Investment) during each trading competition period.

To celebrate the release of the Contest module, PrimeXBT is also launching the Grand Trading Competition with a prize pool of $100,000 which will be shared amongst the ten best performing traders. 

The first-place winner will receive a mind-blowing $50,000 reward credited to his PrimeXBT margin account immediately after the competition is finished, while the second-place runner-up will receive $20,000, and third place will get $10,000. Depending on their ranking, all other winners will be rewarded with prizes between $500 and $7,000!

As previously mentioned, all trades are made risk-free using virtual funds, and competitions rely on live market data to mimic a real-time trading environment. No deposit or entry fee is required – all you have to do in order to win the prize is to join the contest and beat other participants by showing the best possible ROI performance. 

Notably, a wide range of markets are available for trading during the competition. Whether it’s forex, crypto, metals, oil, or stock indices – you choose your weapon to win the battle. Let’s get started!

Join Grand Trading Competition

Contests For All Types Of Traders

As the Covesting copy trading platform global leaderboards have demonstrated, traders love to test their skills and show their success to the rest of the world. All over social media and within financial-related forums and crypto sites, traders share their wins and losses.

The Contests module will become a growing ecosystem of trading competitions, where users of all skill levels come to do battle and potentially take home a piece of the reward prize. 

The no-risk and free entry system lets newcomers learn trading skills and gain valuable education and experience in a real-time environment. Professional traders can also demonstrate their expertise more broadly and improve engagement around their followings, all while getting a chance to earn a part of the prize. Various platform partners can also leverage the Contests module to create branded community trading competitions, using it to attract and engage with their audiences.

A Closer Look Into PrimeXBT Contests Module

We did our best to make this product enjoyable and easy to use – as we do with all features we release. Next, here is a quick look at how this brand-new tool works in practice.

By clicking Contests in the main platform menu, users can view all active and upcoming competitions. In order to join the competition – you simply have to click on the Join button. No entry fees or deposit is required to enter the contest. Selecting a specific competition allows users to view the conditions necessary to qualify and win the prize.

For example, some competitions may have a minimum trading volume requirement or a required minimum number of trades. Without fulfilling those requirements – you won’t be eligible for a reward even if your performance is the highest. 

This is where you will find all the active contests and info about them, such as the awards, when it begins and ends, and the requirements to join. 

Once the competition commences – users can view the real-time leaderboard rankings of all participants based on trading competition performance (ROI). As you may suspect – the higher the return you manage to make on your virtual trading account, the higher you will climb in the rankings.

In the ‘My Contests’ tab you will find information about contests you have entered. Here you can see things like your rank in the competition, your turnover and trades etc. 

Joining a Contest is Easy

To be a part of a contest takes three easy steps. Once you have found a contest you like on the all contests page, click on it. 

• Click join on the contest page

You can also just click view on a contest to see what is going on inside and to have a look at how other competitors are doing before you join. 

• Enter your nickname for each contest.

Below is what a contest page looks like showing you all the information you need to try and be the best trader in the contest!

• Once you have joined, simply click trade to get going!

This contest card will stay on your ‘My Contests’ page making it easy to see when it will end, where you rank and how many people are in the competition. 

Once the competition is finished – all qualified winners will receive an email containing all the necessary information about how to claim their reward.

The PrimeXBT Contest module is suitable for all types of traders and is mainly aimed at improving the trading skills of all participants while creating an exciting and engaging environment. 

The all-new Contests module joins other recent releases within the PrimeXBT roadmap, including the native iOS application, Covesting yield accounts, and other innovative tools and features we have already included in our suite.

Stay tuned to the official PrimeXBT blog and social media platforms for further information on PrimeXBT Contests and join the Grand Trading Competition today to grab a piece of the $100,000 prize pool! 

PrimeXBT has launched a new mobile app for iOS as the FX broker improves access to its trading platform for users who are regularly on the go.

“The world is moving completely mobile. This trend began a long time ago, and it is definitely here to stay. Being on the edge of innovation, we couldn’t ignore this fact”, said a spokesperson for PrimeXBT’s product team.

“We are proud to reveal the release of the native iOS application, with an Android version in development and coming soon.”

The brokerage firm offers clients access to forex, cryptocurrency, stock indices, and commodities. The iOS app will bring parity across the entire PrimeXBT experience no matter the device.

PrimeXBT boasts an advanced trading platform, an ever-growing roadmap, and personalized service with a dedicated account manager.

The mobile app for iOS is available immediately via an Apple App Store and the Android version will be announced soon.

The broker founded in 2018 offers a synthetic contract trading infrastructure for Cryptocurrency, FX, Indices, and Commodities.

PrimeXBT offers the Covesting copy trading module allows users to browse through hundreds of trading strategies provided by other traders, and automatically copy their trading activity.

In October, the FX broker announced the launch of Covesting Yield accounts that would help the platform users to generate passive income by investing in yield generating assets.

This account offers access to the top DeFi protocols like Uniswap, Compound, and Curve without the need for the users to know or understand the technology or the need for them to connect their wallets to the respective decentralized exchanges.

Using this tool, the users would be able to put to use their idle crypto assets to generate yields of up to 10% under the current market conditions.

This is part of an ongoing white label agreement and B2B partnership between PrimeXBT and licensed European fintech developer Covesting. Apart from this, the partnership also includes the copy trading and token staking module from Covesting.

The company has grown exponentially in three years and is now serving clients in more than 150 countries, offering them access to top-tier liquidity and a wide range of trading tools.

The firm’s technology partners are Devexperts, Covesting, and Bitfury, thus ensuring a robust trading system for both beginners and professional traders that demand highly reliable market data and performance.

The entire infrastructure, developed by Devexperts, is designed to facilitate a high number of orders per second and extreme loads while offering ultra-fast order execution and low latency.

Nearly everyone familiar with the world of cryptocurrency knows about the successful platform called ChainLink.

Also called LINK, ChainLink is the fifth global cryptocurrency platform in terms of market capitalization.

The mission of this decentralized union is to enhance real-world data in connecting smart contacts. This platform has grown its worth by 100% since January 2020.

If you are wondering what cryptocurrency platform to invest in gain as much as 100% returns, this article holds the answer.

In this article, we will introduce you to Covesting, provide vital information about the platform, and guide you as to whether or not you should get involved in Covesting.

What you need to know about Covesting

Covesting is a financial technology (fintech company) operating globally and registered in Gibraltar.

The company handles a vast range of software needs and offers solutions to individual customers and institutions globally.

Covesting is one of the international firms that received the Distributed Ledger Technology License by the Gibraltar regulatory authorities, which gives it a boost and assurance of great achievements in 2020.

Traders and new users can connect on Covesting through the Copy trading or social trading feature. The copy trading or social trading feature allows users to identify expert traders on the platform. After selecting experienced traders, they can automatically copy their trading patterns.

Copy-trading or social trading is a smart tactic for both traders and their followers to earn a profit. In practice, when a trade is profitable, the expert trader receives a share of the profit from their followers. Likewise, the followers can trade with fewer fees and greater ease even if they are a novice in trading crypto.

Covesting also has a unique token called COV that traders on the platform can use for their activities.

Read on to learn more about COV and other features in Covesting.

PrimeXBT’s partnership with Covesting

Covesting is in partnership with a renowned and award-winning trading platform PrimeXBT. The firm won the 2020 ADVFN International Financial Awards as the Best Bitcoin Margin Trading Platform.

PrimeXBT offers Bitcoin trade, forex, indices, stocks, commodities, etc. on a global scale and has over 1 billion USD trading volumes.

Other features on PrimeXBT

• 1: 100 cryptocurrency leverage
• Accumulated assets from different asset providers.
• A safe and secure platform for trade.
• Vast range of trading tools.

How to use Covesting through PrimeXBT

Users and traders can assess Covesting through PrimeXBT and create strategies for funding and trading in a transparent environment. Tracking records will be made visible to potential traders who can monitor the trade records of expert traders. The followers will see their capital investment and returns, and then decide whether or not to copy the trade.

You can search traders through the Covesting area. From the search results, you can decide on a successful trader to follow and copy. Following a trade and copying the trading pattern helps you to earn passive income with little or no knowledge.

The traders-followers pattern is also an avenue for the traders to build their reputation. It will earn them more profit if they know what to do.

Is COV Likely to Skyrocket?

Investors can use the Covesting token (COV) to invest in the platform. Investing with the token is very profitable when the value appreciates.

Those interested in serious investment and profits can avail themselves of the supply of token available on the platform. 18,000,000 tokens are in circulation out of a total of 20,000,000 tokens. Top investors referred to as ‘strong hands’ control 50% of the total token in circulation. Covesting differentiates its utilities into core and secondary token utilities.

With an ambitious business goal and direction, Covesting is out to expand its frontiers in business and fintech. The firm aspires to obtain more partnership deals with other third-party trading platforms asides from PrimeXBT through the white-label licensing agreements.

With its current partnership with PrimeXBT, the two companies want to integrate the COV token into PrimeXBT. The purpose of this integration is to reduce the trading fee, expand the success fee, and increase followers’ limits.

Reduced Trading Fee

A reduced trading fee is achievable for strategy managers who hold COV. The deduction in trading fees will cover about 10%-100% of the COV token, although, the particular COV discount level has not been ascertained.

Higher Success Fee Percentage

Followers can earn a higher percentage of profits on their success fee when they stake with COV tokens. Presently, profits from closed trades on Covesting are shared between the platform, traders, and followers. The percentage distribution of profit is calculated depending on the current rates and market conditions, of which traders and followers will receive a greater percentage profit than the platform.

Limits on Follower Numbers

Covesting plans to enforce a limit on followers to keep their utility high. However, a trader can increase follower numbers when they start staking COV tokens.

Token Burns

Covesting will calculate and burn a specific amount from its monthly or quarterly generated fees. The token burn will exclude affiliate earnings, fee discounts, and other costs.

Covesting has an admirable customer base, and the COV has a strong medium-term potential.

Traders can also trade COV on other platforms, including onKuCoin.

Benefits of Covesting and its COV-token

In summary, these are what you can benefit from trading on Covesting and using the COV token.

• Team of trustworthy holders.
• Higher token value.
• Reliable partnerships with other renowned platforms.
• Possibilities of utility and token burns.
• Recommended by analysts on TradingView.
• A community of dedicated followers.
• Legitimate, registered, and regulated platform
• Token is still under the radar

Our Verdict

Our review has shown that investing and trading on Covesting has many benefits. However, this should not be your final research before investing your funds in this platform.

Find out more about Covesting and COV before you invest and trade. To learn more about the COV token and trading, you can visit their website. Also, follow traders to learn about their trading strategy.

In all, our verdict is that Covesting is a very promising platform for investment and trading, but make sure you do not invest until you are convinced that it is the best platform for you.