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PrimeXBT is well-known for its copy-trading feature, as well as a Covesting partnership. Learn how you can utilize both of them yourself!
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Copy-trading is the act of following somebody else’s trading activity with the hopes of succeeding when they do.
How can you do copy-trading on PrimeXBT? Simply register on the platform. Then, access the “Covesting” section. Here, in the “Rating” tab, you will find hundreds of trading strategies provided by other traders. You can automatically copy them by clicking “Follow” on the chosen strategy and, if the strategy is successful, enjoy the same returns as the most profitable traders.
You can use the “Filter” icon to find the strategies that best suit your desired risk and reward ratio. It’s good to filter for strategies that have been active for 60 to 90 days, and show a smoothly rising performance curve with a low draw-down ratio.
Keep in mind, though, that users can copy the amount of money they invest from the strategy they follow, or use an option to invest a fraction. You can find more information about each strategy by clicking on it.
Another exciting and new feature you can find is “trading and gaining from your following”. Every trader on the platform can earn additionally from their followers if they gain a following and perform successful trades. The more followers - the more money you can add to your profits.
Just go to “My Strategies” tab, and click on “Open new strategy”. Lead on, and see how much additional profit you can earn, from the profitable trades you do! Covesting Yield Accounts
Covesting also has yield accounts. Covesting Yield Accounts do all the hard work of searching for staking opportunities, so you don’t have to. They let crypto users earn interest on their tokens, as they can connect to several decentralized financial yield-generating applications with the highest possible returns.