This week, PrimeXBT shook up the cryptocurrency industry by announcing a partnership with Covesting, a trading platform for cryptocurrencies. The partnership sees Covesting licensing its unique, highly anticipated copy-trading module to PrimeXBT, who will integrate both copy-trading and the COV utility token into their native platform.
PrimeXBT’s trading platform has recently gained traction in the crypto industry due to its fast-growing trading volume and robust feature set. Combining the power of 100x leverage trading, multiple advanced order types, and a reliable platform with Covesting’s copy-trading experience, PrimeXBT can claim to be the most feature-packed in the market.
Copy Trading Offers Crypto Traders A Wealth of Advantages
PrimeXBT had been teasing a major announcement, but even the traders that have already become enamored with the platform were shocked to learn that copy-trading would soon be coming, due to the incredible potential it offers.
Copy-trading benefits both novice and professional traders alike, which has been among PrimeXBT’s key selling points as an exchange and platform.
For newbie traders seeking to turn their first profits, copy-trading takes the guesswork, research, and hard-learned lessons out of the equation. Copy-trading allows new traders to follow and mimic the trades of top professional traders throughout the industry, taking advantage of strategies these professionals gained through decades of real-world experience. These new traders can bypass years of experimenting, backtesting, losses, and learning by simply following the traders of their choice.
Professional traders greatly benefit from this as well, as they will generate income off of the traders that follow their trading strategies. And of course, the professional traders will be generating profits using 100x leverage on PrimeXBT, meaning that copy-trading will offer them yet another way to earn from their trades. It’s a win-win situation for all traders involved.
Copy Trading Will Take PrimeXBT To New Heights
While PrimeXBT has been able to easily gain market share from competitors like BitMEX due to offering a better affiliate program and advanced trading features, the platform will only grow due to the addition of copy-trading.
PrimeXBT offers a highly customizable user interface with a variety of widgets, the ability to short and long trending markets, 100x leverage across all crypto trading pairs, and so much more. While crypto traders have struggled to generate profits on other exchanges, these extra tools have helped PrimeXBT shine during the recent sideways market.
How Copy-Trading Works
Novice traders will be able to view the profiles of top traders from all over the globe and “follow” them to see all of their trades. Traders are given a rating based on their success rate, ROI, and more, which helps new traders understand who is best to follow and profit off of. Traders will be able to see first-hand how professional traders manage their portfolios when they take profits, and much more.
Best of all, these novice traders simply can copy the trades of these top traders, sit back, and watch their profits grow.
Professional traders will continue to make a name for themselves and grow their following through PrimeXBT and the copy-trading feature, allowing them to secure even more profits and income than ever before.
Copy-Trading Will Be Implemented In The Coming Months
According to a press release shared by PrimeXBT and Covesting, the copy-trading module will be implemented within the next 3-4 months. Covesting is working closely with PrimeXBT on the implementation of the technology and architecture, which will enable the copy-trading module on PrimeXBT to all of its users.