PrimeXBT Launches Innovative Investment Management Module in Partnership with Covesting


Over the past few years of investing in the cryptocurrency industry, we’ve seen a strong trend for a wide range of new ways to invest and trade being introduced into the cryptocurrency market.

As a part of this, one facet that has become more popular amongst traders than others is the introduction of social trading into the crypto market.

We’re taking a look at PrimeXBT and their release of a new platform that revolutionises the way that crypto traders are able to social trade with each other.

Why is Social Trading Taking Off Over the Past Few Years?


If we go back even a few years ago into the history of cryptocurrency, social trading was almost unheard of, with there being no cryptocurrency social trading platforms available on the open market.

This is perhaps the most striking when we consider that for more than a decade social trading has been something that is common in traditional market trading, where a number of platforms have been available for a long time, and where traders have been able to social trade stocks, forex, and other traditional assets.

It’s a perfect storm of a lot of new traders to come into the cryptocurrency market, as well as now a lot of veterans cryptocurrency traders being able to generate higher profits reliably that is leading towards social trading becoming more prevalent.

In order for social trading to become popular, there needs to be a good mix of experienced traders that have proven strategies that generate profit, as well as a large amount of inexperienced traders that want to reduce their risk when they engage with the markets.

What is the Covesting Module Beta?


PrimeXBT’s Covesting Module beta is the platform's first entry into the cryptocurrency social trading market, and as a product of a partnership with one of the cryptocurrency industry’s leading social trading platforms, Covesting.

Unlike the rest of the cryptocurrency social trading market that uses mechanisms such as copy trading in order to allow traders to work together, PrimeXBT’s Covesting Module beta employs a new and uniquely powerful mechanism where traders can form peer-to-peer investment funds.

Once a trader has created an investment fund they can immediately start trading their own money and any trades that are made through the fund are then publicly displayed for potential investors to see and assess.

A wide range of data and metrics is provided to potential investors, and this allows investors to make an informed decision about the most profitable and reliably reliable funds to invest into.

Once investors have invested into a fund, all trades that are made by the fund manager are then replicated with the assets provided by the investors, and for all successful and profitable trades that the fund manager makes on behalf of all investors they are rewarded with a small fee from each investor.

What is Coming Up in the Next Versions?


While the news of the Covesting Module beta is exciting and this is a turning point for the crypto social trading market, this initial release is just the first beta for this product to allow for testing on a smaller scale.

A full product will not be released during the beta, but what is available is the ability to create investment funds and to trade through the investment fund in order to build up a profile of provably profitable trades.

In upcoming versions the functionality for investors to be able to select and invest into different funds will then be integrated, and partnerships between fund managers and investors will begin.

In Summary: PrimeXBT Launches Covesting Module Beta

PrimeXBT has outpaced the rest of the market to grow to becoming one of the leading multi-asset margin trading platforms in the world, and now through a partnership with Covesting, PrimeXBT is expanding into crypto social training.

The peer-to-peer investment management fund mechanism which has been designed by PrimeXBT is unique and revolutionary, and will allow for the seamless sharing of resources and profit between investors and professional traders.

For more on PrimeXBT’s Covesting Module beta check out this link.

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