Covesting Review: Why is Covesting Worth Your Attention?
Boasting a team of professional and talented individuals behind it, a great community, and enough interesting features to make it stand out from the crowd, Covesting is a new-age, Gibraltar-based, DLT-compliant cryptocurrency trading platform.
Its main goal is to make cryptocurrency adaptable and accessible to a broad spectrum of both individual and enterprise/institutional investors.
Why is Covesting worth your attention?
For starters, it’s worth noting that Covesting is designed to appeal to novice and more seasoned traders alike. One of its most interesting features is the copy-trading function, as it allows novice traders to use the trading strategies of other experienced traders on the platform. This not only allows novice traders to improve their trading skills, but it’s also a great way to improve their gains.
The feature benefits experienced investors as well. By allowing others to follow their trading strategies through this copy-trading characteristics, advanced traders can easily earn additional income.
Covesting intends to become one of the leading trading platforms. Its users are provided with access to a wide array of digital assets and super-high liquidity of the order books. This liquidity aggregation means that the pricing of the platform will be in direct accordance with that of the leading platforms, that the exchange rates will be optimal, that the execution of trades will be almost instantaneous, and that users have access to a wide array of digital assets.
In terms of regulatory compliance, Covesting has already a few achievements under its belt. For starters, it’s a member of Enterprise Ethereum Alliance (EEA), the world’s largest open source blockchain initiative, as well as a proud member of the Crypto Valley Association.
The platform has already received licenses in Estonia and has obtained Gibraltar’s DLT license. This regulatory compliance acts a solid proof regarding Covesting’s high standards in terms of risk management and client asset protection.
KYC (Know Your Customer) procedures have been mandatory in the financial world for decades and have recently started to become standard for cryptocurrency exchanges as well. Covesting has a KYC procedure to ensure that the funds are not used for money laundering purposes or other types of illicit financing.
Security is yet another subject that’s at the top of Covesting’s list of priorities, hence, the implied high industry standards. Covesting uses strict security standards such as two-factor authentication, cold storage, a multi-cluster system architecture, full data encryption, and anti-DDoS protection.
The platform provides its members with the option to buy, sell, and store digital assets. Members can easily deposit funds, buy various cryptocurrencies, and store them securely. It boasts a user-friendly real-time market data tracker, advanced charting tools, and various real-time reporting features which allow anyone to get a clear view of their portfolio. What’s more, users will also be able to download a detailed report of all their trading activities and performance on the platform.
To make the platform as relevant and as profitable as possible for its users, Covesting is developing various algorithmic trading tools. The supported cryptocurrencies include BTC, ETH, LTC, ZEC, DASH, XRP, XMR, NEO, BCH, ETC, COV, EOS, and OMG. Anyone is allowed to convert crypto to fiat and vice versa. This is possible through numerous fruitful partnerships with reputable banks from various countries.
Anyone can become a Covesting affiliate and earn as much as 40% of all trading commissions generated by referrals. Moreover, the exchange accepts wire transfers and will soon be able to process credit cards as well.
The COV token
The Covesting platform has its own token, the COV. It’s an ERC-20 token built on top of the Ethereum blockchain which brings its holders various benefits. For instance, COV is an important tool that allows investors to follow professional cryptocurrency traders and their advanced trading strategies.
Token holders also get a massive discount of 50% on exchange fees. The token is important for any member looking to take advantage of the platform’s algorithmic trading features and arbitrage bots. Just like most other crypto exchanges, Covesting uses a “buyback and burn” program. Purchased tokens will be locked in the smart contract indefinitely and ultimately taken off the market.
The service markets itself as an advanced and intuitive trading platform. As one can expect, the team behind the platform takes customer support seriously. The platform provides 24/7 multilingual support and personal accounts managers for most of its traders.
Covesting is backed up by a very passionate team, led by Dmitrij Pruglo, Covesting’s CEO, and Tim Voronin, the COO. Both these leaders have extensive experience in asset trading which explains the platform’s unique approach towards the trading field. The platform ticks all the right boxes when it comes to trading features, customer support, and security and is well on its way to establishing itself as one of the leading legally compliant cryptocurrency trading platforms.