Covesting is the first form of crypto copy trading to be available in the market, and its token, the COV token, is used throughout the covesting ecosystem in order to unlock different utilities such as the ability to reduce trading fees and the ability to increase the revenue that is gained from investments on the platform.

While there are a number of different places online that COV can be bought and sold, there are a few platforms where a majority of COV trading takes place with these larger platforms being the centres of COV trading globally.

We are taking look at the 3 best trading platforms to buy COV in 2021 for both new COV traders and long-term COV holders are like, starting with a look at the basics of the COV token and covesting, before moving on to look at greater detail at the 3 best trading platforms to buy COV.

COV Token 101 - What is it?

The Covesting project launched in 2017 with an ICO that generated more than $18 million in funding for that year and confirmed the huge unmet demand for cryptocurrency copy trading that was present at that point in time.

As a part of the launch of the Covesting project, the native token that would be used throughout the covesting ecosystem, COV, was also launched and was distributed to ICO participants with the value of that token increasing significantly throughout 2017 to reach an all-time high of $3.28.

The COV token today is used to unlock a range of utilities on PrimeXBT’s Covesting module, the home of covesting in the cryptocurrency market, with these utilities having different advantages such as the reduction in trading fees and the increase in revenue from using the platform.

Covesting Basics

Covesting is a form of copy trading that is available within the cryptocurrency space and that sees experienced traders known as “strategy managers” creating peer-to-peer investment funds which are tied to specific strategies and that investors, known as “followers”, will then invest their funds into and share in the same ROI’s as the trades executed by the manager.

Covesting has a number of advantages that it provides for its users, such as the dramatic reduction in risk by allowing inexperienced traders to copy the trades of some of the top performing traders in the market, as well as experienced traders being able to create new revenue streams with the Covesting module.

In return for the service that strategy managers provide to their followers, they are rewarded with a success fee of 20% on all of the profits that they generate for them on their behalf.

Where is Covesting Available?

Covesting.io

Covesting.io is the project that was launched in 2017 and that created covesting, bringing a significant level of innovation to the cryptocurrency market in the process, and being the first project to bring copy trading to cryptocurrency users.

Covesting.io is one of the most respected trading platforms in the cryptocurrency space in 2021, having built its reputation over the past few years following its induction into the world's most prestigious cryptocurrency organisation, the Crypto Valley Association, as well as becoming incorporated in one of the world's leading fintech to restrictions, Gibraltar.

The team behind Covesting.io have worked tirelessly to form powerful strategic partnerships and to build the infrastructure needed to bring covesting to the cryptocurrency market.

PrimeXBT

Following a partnership with Covesting.io in early 2020, PrimeXBT launched a beta phase of the Covesting model on its platform which integrated covesting into the core of PrimeXBT and allowed its users to access copy trading directly for the first time.

PrimeXBT has grown exponentially over the past 3 years since its launch in early 2018 with a waiting list of more than 150,000 traders, to today managing up to $3.6 billion worth of global trade each and every day.

PrimeXBT’s Covesting module is the leading place online to access covesting and the use of the COV token on the platform unlocks a range of powerful features and advantages that lead to optimised outcomes when covesting.

3 Best Trading Platforms to Buy COV in 2021

KuCoin

KuCoin is a leading trading platform that has been in the market for many years and has built a strong reputation for selecting only the best altcoins to list on its platform, with COV being one of these.

KuCoin has the highest trade volumes for COV anywhere in the cryptocurrency market and therefore is the leader for COV trading globally, with there being a number of different trading pairs that are available including USD, EUR, BTC, and ETH.

KuCoin is a large and robust cryptocurrency trading platform that also lists a wide and diverse range of other cryptocurrencies as well, as well as having a number of powerful tools and features that give COV traders an edge over the rest of the market.

Uniswap

Uniswap is the leading DeFi trading platform on the market, meaning that it is a decentralised trading platform instead of a centralised trading platform such as KuCoin, with no custody over the assets of its users and autonomous trading in different pools conducted throughout the platform.

Uniswap is the second largest platform by trade volume to list the COV token and provides the option to trade COV against WETH, with the process of trading on Uniswap being simple and revolving around sending Ethereum to your Metamask account, connecting it to Uniswap, and then trading WETH for COV.

Uniswap is a professional trading platform that uses bonding curves instead of order books in order to designate what the trades that are executed, and is a good option for anybody that would like to check out a secondary trading platform for COV.

PrimeXBT (soon)

Although currently COV is not available to be traded on PrimeXBT alongside the Covesting module, this has been announced to be upcoming and will be something in the future that will be available for covesting users.

PrimeXBT has a range of advantages compared to other trading platforms including charging the lowest trading fees in the industry of just 0.05%, as well as being a highly-secure trading platform that has never been hacked, and offering industry-leading leverage of up to 100X on all cryptocurrencies.

When COV is introduced into PrimeXBT it will allow covesting users to be able to simply use covesting and the COV token simultaneously at PrimeXBT, making the process even more streamlined than it is today.

How Can COV Be Used?

The COV token is used within the covesting ecosystem in order to unlock a range of new COV token utilities that have been recently introduced to PrimeXBT.

These utilities include the ability for followers to increase the percentage of the success fees that are generated with successful trades, the ability for followers to remove the need to pay a 1% entry fee when they follow a new strategy manager for the first time, the ability for strategy managers to reduce their trading fees by up to 75%, and the new COV token burn program where amounts of COV will periodically be bought from the market and burnt.

While these for utilities are now in effect, there are more COV token utilities that have been penned and added to the project milestones and that are expected to be also introduced to PrimeXBT’s Covesting module at some point in the future.

Final Thoughts

The COV token and covesting have both grown significantly over the past 12 months, with the COV token going by more than 1,000 % in value throughout this period, and covesting growing exponentially in a number of users of PrimeXBT’s Covesting module, as well as the total amount of equity invested on the platform.

KuCoin, Uniswap, and (soon-to-be) PrimeXBT, provide COV token holders with a range of different platforms to trade COV and new users to be able to easily and quickly secure COV tokens before the 2021 bull and kicks into full effect.

If you would like to learn more about COV and about covesting in general, or if you would like to learn about how to get involved with using PrimeXBT’s Covesting module, check out this link.