This "Covesting" thing recommendation(
which is pretty much just eToro's copy trading feature) is so flawed that I don't even know when to start; I just wanted to barf due to how much bad statements I've read.
There are a number of problems with HOLDing, however the primary issue is that it is massively inefficient, being that although over a long enough period of time most investments in the crypto space become profitable, throughout that period they could have been a lot more profit generated by actively trading.
Keyword:
could. Assuming that the trade you chose actually did a good job and didn't do poorly and ended you up with negative profit.
But guess what? I
could also grab all my money and gamble it away because it
could potentially multiply in value. But I wouldn't do it. Why? Because the risk:reward odds suck; same with that "covesting" thing.
another problem is that HODLers inevitably have to absorb significant losses with this being an undesirable way of trading in the cryptocurrency market, and it also being unnecessary if there are other options available.
HODLing is trading? Dafuq? The main point of HODLing is that you don't even need to trade.
however it is also an extremely inefficient strategy and there are better ways of achieving a similar result of hands-free trading but with higher returns.
"Extremely inefficient". Surely you haven't taken a few seconds to look at bitcoin's price chart history and see how much money you would've made if you just held.
high profits and less risk? OP should not mislead newbies with this bait as you are right, it depends on the results of the trade and not every trade is successful and may end up with negative profit.
high likely that the OP is just shilling this covesting site as others already noticed.
this is poor promotion of the site by only showing the possible positive results. how about all the negative results when someone in covesting is wrong with their trade? are they still going to label it as higher profits and less risk? i dont think so.
so for noobs and the likes, think first of what they are offering here. theres no easy money in crypto.