(Photo : How To Get Started Copy Trading On Covesting)

Copy trading is one of today's hottest strategies to make money in crypto and other volatile markets. Rather than performing technical analysis and waiting to enter and manage positions themselves, followers can copy the trades of someone with more experience and ride their winning trades toward profitability.

The idea behind copy trading is appealing to all experience levels and those on both sides of the trade, as we'll explain. We'll also deep dive into what copy trading is, where you can copy trading, and how to get started copy trading.

What Is Copy Trading?

Copy trading is a relatively new concept to trading, first brought to the crypto market by industry innovator Covesting. The European fintech software developer has partnered with the award-winning PrimeXBT to debut their Covesting copy trading module to the trading community.

The Covesting peer-to-peer copy trading module connects followers with strategy managers who are ranked by profit and other success and risk metrics. Followers can copy the trades of strategy managers they deem worthy, while strategy managers can do what they do best - trade - and make more money than otherwise possible.

That's because the strategy manager gets a cut of the profit share from the follower and the capital they put on the line. This keeps strategy managers incentivized to keep on earning for their followers, as it makes them more money also.

Why Choose Covesting?

The easiest answer is profits, but there are several more reasons to consider. To start with the most compelling, there are confirmed stories of strategy managers turning six figures into millions, all while making their followers rich at the same time.

The Covesting module is also designed by the licensed fintech developer by the same name, and is home at the PrimeXBT trading platform. PrimeXBT has won numerous industry awards and received widespread community recognition.

There is a global leaderboard system and a five-star rating system both designed to help followers choose the safest and most profitable strategies. Follower limits keep some of the best of the best at capacity, but that encourages users to spread capital around and diversify risk.

How To Get The Most Out Of Copy Trading

The Covesting copy trading module utilizes the COV utility token to enhance accounts by activating new account memberships. Memberships are activated by staking COV tokens, unlocking a host of features depending on the amount of COV tokens staked.

In addition to standard accounts, staking COV activates Advanced, Premium, and Elite memberships. Each membership offers increasingly better profit shares, trading fee discounts, follower counts, and more. New follower entry fees are eliminated at any of the three tiers above standard.

Token holders also benefit from the COV tokenomics which include systematic token burns that create a deflationary environment for the token supply. Increased demand from COV token staking can also have a similar yet less dramatic effect of locking tokens out of the supply from being sold.

How To Get Started Copy Trading Today

To get started with the Covesting copy trading module, simply register on PrimeXBT, and enter any required information such as email address. After confirming, a deposit must be made in BTC, ETH, USDT, and USDC to open a margin account. PrimeXBT also includes third party modules that lets users buy or swap coins on the fly.

Once registered, there's a dedicated Covesting hub with a section for the COV token. There's also the Covesting global leaderboards and a wealth of data on each individual strategy for followers to learn more.

Strategy managers can also start their journey toward rising the ranks of those very leaderboards, hoping to attract the interest of followers worldwide. If they can build their following and profit margins, fortunes can be made.

And this all starts with the Covesting copy trading module, the COV token, and the award-winning margin trading platform, PrimeXBT. The platform also offers CFD trading on more than 50 different assets, in addition to long and short positions, technical analysis software, and so much more.

24/7 live customer service is there for those that struggle to get set up and there's a help center with more details. Check out Covesting copy trading on PrimeXBT today.