There are several stories on the internet about how to make a lot of money when trading cryptocurrencies, but just browse through profiles on Twitter or any sub-Reddits related to the subject to realize that some traders tend to promise fantasies. The cryptocurrency market is speculative, so hitting any of Bitcoin's price predictions can be particularly rewarding for crypto enthusiasts and is enough to connect and tell the world about your success.
However, the problem is that, they never show when forecasts go wrong and these traders end up losing significant values. Even so, this type of sharing of screenshots and short videos on social networks is common and, most of the time, done with good intentions. This has spawned friendly competition between crypto traders, who will soon enter the next level thanks to the Covesting copy trading platform, which is now available on PrimeXBT.
Peer-to-peer platforms grow exponentially through word of mouth
Covesting is a peer-to-peer platform created to connect new traders or those who don't have time for technical analysis and to follow the news closely, with qualified and experienced traders. Together, these two types of traders benefit from each other.
This relationship and the central design of the platform help the community to grow quickly and this is how friendly competition is taken to the next level. Today, thriving peer-to-peer networks, such as Uber and Tinder, serve as ideal examples of how these networks can grow over time through word of mouth and visibility, and are two critical factors in driving the role Covesting in the friendly competition. in the cryptographic space.
Attractive earnings entice the public to follow these strategies
The main traders on the platform want to trade with their successful Bitcoin trading strategies, supported by fully transparent metrics to attract traders and, more capital for their strategy. The more followers and capital they attract, the more they profit.
In order to attract followers to be interested in their strategies, these experienced traders, usually with large integrated audiences, share screenshots of their success rates and PnL on social networks. Massive ROI, daily earnings and consistent earnings metrics arouse the curiosity of less experienced traders, encouraging them to research the platform to see for themselves whether the listed earnings are accurate and achievable.
The Covesting public rating system, complemented by a five-star system and multiple filters to restrict metrics, helps traders find the right strategy for anyone's risk appetite or profit objectives. Any new trader on the market and overwhelmed by everything he has to pay attention to and learn, will realize how much profit he can make following another more experienced trader. It won't be long before they register and create personal strategies.
Competitiveness creates more competition in speculative cryptographic assets
However, it is not just followers who are taking notes. Other traders in the industry are feeling challenged by the substantial ROI that PrimeXBT traders are sharing, thanks to the copy negotiation tool, which they are also interested in.
The most experienced traders can profit regularly by trading in any market, with a combination of the right skills, risk management approach and natural talent. When they realize they can profit more by attracting followers to their strategy, simply by sharing screenshots and showing off online (a commonplace now), register and join Covesting making it logical.
How Covesting increases competition in the trading community through copy trading on PrimeXBT
It is a wise decision for experienced traders to make even more profit by managing Covesting strategies at PrimeXBT, and it is an even better decision for beginners to benefit from without the commitment of dedicating time and effort, due to this exponential growth of this p2p platform that is get out of the corner.