How COV Token Unlocks Unprecedented Value For Traders

Cryptocurrencies are becoming more commonplace these days, with everyone from mainstream and main street investors, to institutional investors and wall street now involved. These people are all talking crypto, and coins like Bitcoin, Ethereum, Dogecoin, and more are the topic of these conversations. 

There’s also another coin buzzing, but due to the incredible value it unlocks within the Covesting ecosystem. That coin is the COV utility token, and we’re going to break down how to get the most value out of the COV token, and why this type of utility is unprecedented in crypto.

What Is The COV Utility Token?

The COV utility token is an ERC-20 token built on the Ethereum blockchain, but designed to be utilized within the Covesting copy trading module. As the Covesting ecosystem expands, licensed DLT developers by the same name also ensure the COV token is integrated fully within the experience for token holders.

The COV utility token unlocks a wealth of benefits for token holders and users of the Covesting suite of fintech software – the most prominent of which is the Covesting copy trading module on PrimeXBT.

What Is Covesting Copy Trading?

The Covesting copy trading module is a one of a kind experience that connects followers and strategy managers so they can profit together in a unique and innovative way. Strategy managers can go about their normal trading, but make even more money by earning a share of their follower’s success fees. Followers earn money by profiting by copying the trades of these strategy managers.

The Covesting global leaderboards rank these strategies by profits, but also include fully transparent risk and other success metrics for followers to choose the right strategy manager for them. Once comfortable, followers can add capital to the strategies of their choosing, and even follow multiple strategies for greater portfolio diversification and risk aversion.

What Are Covesting Yield Accounts?

The Covesting ecosystem is soon expanding when Covesting Yield Accounts launch later this year in Q3 2021. The new tool is full of Covesting innovation, and connects users to top DeFi protocols with just a few clicks, and enables some of the highest APY rates in the industry.

Rather than jumping through hoops to connect wallets with DeFi systems, the Covesting Yield Account system will let anyone with crypto assets held on PrimeXBT earn an APY without all the expertise.

APY rates reach as high as 35%, and there’s a way to get up to a 2x boost on APY, as well as a promotional 1% boost on APY during the launch month.

How Staking COV Unlocks The Most Value Within Covesting

We’ve talked extensively about what the COV token is, and the various platforms it can be used on, but now to the best part: what it unlocks for token holders.

COV tokens can be staked within the Covesting module on PrimeXBT to unlock one of three new account levels, in addition to Standard Accounts. Membership levels include Advanced, Premium, and Elite levels, and each offers increasingly better benefits with the more COV tokens staked.

These benefits include boosting the profit share for followers, reducing trading fees for strategy managers, and eliminating entry fees on new followings. The amount of followers can also be increased, and there are massive APY boosts reaching up to 2x.

COV staking can be stopped or upgraded at any time, but all account level benefits will also change.

What Else COV Token Offers

The benefits of the COV utility token don’t necessarily stop there. There’s also regular systematic token burns by the Covesting team. Token burns support deflationary tokenomics by removing tokens from the circulating supply. Covesting burns a portion of all the fees generated within the Covesting copy trading platform. 

Covesting Yield Accounts are also on the way later this year, and the developers behind it all are always working on the next big thing. Given the track record of innovation and success behind Covesting, anything else they create is sure to be a hit – and at the center of it all will continue to be the COV utility token.

COV tokens are available for purchase at top crypto platforms like Uniswap or Kucoin, and can be stored in any ERC-20 wallet or on PrimeXBT.

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