Why covesting copy trading on PrimeXBT is better than hodling
Investing cryptocurrencies can be a rollercoaster ride of anxiety and other emotions like panic, fear, but also greed and exuberance. Long-term hodlers of crypto assets have watched over the last several years as their assets appreciated to astronomical values, only to fall back later flat on its face back to new lows. There are only a few ways to turn: continue to hodl, liquidate all hodlings, and get out of crypto, or consider trading to profit whichever way markets turn.
Cryptocurrency margin trading also takes a ton of time commitment, patience, and skill, that most investors don’t have, leaving anyone wanted to make money from markets frustrated and scratching their head at what to try next.
Covesting: the copy trading platform for new investors and novice traders
For those that have run into those exact situations and are sick of the buy and “HODL” strategy that crypto investors swear by, but don’t have the expertise, experience, or effort on their side to become a top trader, there’s Covesting on PrimeXBT.
Covesting is a system that brings together new traders struggling to learn the ropes or investors tired of sitting through drawdowns with skilled strategy managers, letting them build capital together for a win-win scenario. Followers can sit back and let strategy managers take on all the stress involved with managing positions and closing in profit.
The risk and reward involved in following strategy managers over Hodling
Nothing when it comes to finance is without any risk. Merely keeping a dollar in your pocket could result in losing it. Investing and trading only amplify these risks, and Covesting is no different in this respect. Where Covesting differs, however, is in its fully transparent, five-star global rating system.
Much of why investors can’t withstand the volatility of the crypto market is because they have no idea what to expect in terms of performance. And while past results aren’t a guarantee of future success, strategies on Covesting that meet specific standards earn them one of up to five total stars, each indicating that a particular risk or success metric is met.
Finding success in the transparent global five-star leaderboard system
The system is designed to give investors and new traders a nearly endless amount of performance data, trade statistics, and risk and success metrics to gauge what strategies are worth their attention and capital. A few of the stars are focused on ensuring strategy managers are serious about their trading career and following, and will only receive the star for depositing or earning over 0.5 BTC, having over 50 Bitcoin trading turnover total within 30 days, and has maintained trading at least 30 out of 60 trading days.
Next, other stars ensure strategy managers employ strict risk management strategies to prevent unwanted drawdown. This includes keeping margin allocation under 60% and maintaining a solid 70/30 track record of successfully closed profitable trades versus losses. If any or all of these five stars are visible, followers can breathe a sigh of relief that their capital is likely in good hands.
Summing it all up: Covesting takes away the stress of Hodling Crypto
Covesting’s fully transparent rating system ensures that followers have plenty of data in front of them to back up any decisions before putting down capital toward a strategy. Following a strategy takes just a few clicks, and becoming a strategy manager is just as simple. Users who consider this opportunity over hodling crypto long term or trying trading themselves can save a lot of unwanted emotion and stress.
For a less stressful and passive approach to making a profit from financial markets, be sure to check out Covesting on PrimeXBT today and let go of hodling for a change.