Uniswap and KuCoin are the two largest platforms in the cryptocurrency market that provide the ability to buy COV, and the vast majority of all COV trading that is conducted each day occurs on these two platforms.

While there are many similarities between KuCoin and Uniswap, there are distinct differences as well such is the fact that Uniswap is a decentralised trading platform while KuCoin is one of the long-standing centralised platforms that has been a pillar of the cryptocurrency space for many years.

In this guide we are taking a deeper look at how to buy COV on KuCoin and Uniswap in 2021, starting with a look at what covesting actually is, before moving onto what the COV token is, looking at the new COV token utilities that have been introduced to PrimeXBT’s Covesting module, before breaking down how to buy COV on KuCoin and on Uniswap.

What is Covesting?

Covesting is one of the most hyped trends of the past two years, and since the creation of covesting in 2017 until now it has grown rapidly in the number of users of the platform, as well as the total amount of equity that is invested into different covesting strategies.

The basic concept of covesting is that it is the first form of crypto copy trading to be widely available, and that users which are experienced traders known as “strategy managers” create peer-to-peer investment funds which are tied to their strategies and that other users known as “followers” will then invest into.

As a way of repaying strategy managers for the trades that they allow others to copy, they receive a success fee of 20% on all of the profits that their followers generate.

What is the COV Token?

When Covesting.io launched in 2017, the project created the COV token which would be the utility token of the covesting system and that would provide users with the ability to buy and spend the COV token in order to unlock a range of advantages and benefits on the Covesting module.

The COV token has been one of the best investments over the past 12 months in the cryptocurrency market, with the price of COV increasing by more than 1,000% during this period of time and this huge increase coinciding with the rapid growth of covesting as an alternative way to interact with the cryptocurrency market, as well as the launch of a number of new token utilities on PrimeXBT’s Covesting module.

When it was first launched in 2017, the price of COV quickly rose to its all-time high of $3.28, and in 2021 there was a lot of room for growth for the price of COV to get back to its all-time high during this year's predicted bull run.

The COV Token Utilities

Recently a number of COV token utilities have been created and integrated into PrimeXBT’s Covesting module, allowing COV token holders and covesting users to be able to unlock new ways to reduce cost and to increase revenue on the module.

The 4 new COV token utilities that have been integrated are the ability for followers to remove a 1% entry fee for following new strategy managers, the ability for followers to increase their share of success fees that are generated, the ability for strategy managers to reduce their trading fees by up to 75%, and the new COV token burn program where up to 50% of all fees on the Covesting model will be put towards buying and burning COV tokens from the open market.

These token utilities represent a significant step in the life of covesting and have had a direct impact on the scarcity of the COV token and its value since then.

How to Buy COV on KuCoin

Deposit Your Funds into KuCoin

In order to start the process of buying COV on KuCoin, the first step is to either have a KuCoin account or to create one, and then to deposit funds into the account.

Simply go to KuCoin.com in order to find the registration page for setting up a new KuCoin account, or to log into your existing KuCoin account.

Once you have done that, go into your account and go to the wallet section of the KuCoin trading platform and select to deposit funds into your account which can then be used to buy COV on the open market.

Trade COV for BTC or ETH

Once you have your funds in your KuCoin account there are a number of different options for buying your COV, with the two primary ways of doing this being the use of BTC and the use of ETH.

If you have Bitcoin or ETH, you can directly trade that against COV, however if you have assets that are different to those you will have to trade them into BTC or ETH first in order to be able to trade and buy COV.

Once you have BTC or ETH in your trading balance simply go to the corresponding trading pair, either COV/BTC or COV/ETH, and you can quickly and easily secure your COV by trading it for the corresponding asset.

Store COV on Hardware Wallet for Safety

Once you have secured COV it is important to consider the way that you will store it in order for it to be protected and secure.

It’s worth noting that although KuCoin is the largest trading platform to buy COV, it was also hacked in 2020 to the tune of more than $150 million, and therefore storing your COV on KuCoin may be less than optimal with regards to safety.

A better option is to transfer your funds to a hardware wallet where you can store ERC-20 tokens like COV easily, with this meaning that you protect your private keys and nobody can steal your COV without having physical access to your hardware wallet.

How to Buy COV on UniSwap

Connect Metamask

To start with, users will have to connect a Metamask wallet that is owned by them in order to begin the process of buying COV on UniSwap, and if they don’t have a Metawallet to begin with they will need to set one up.

Metamask is an Ethereum-based wallet that allows users to be able to store and transfer ERC-20 tokens in a way that reduces risk and keeps them secure, with users maintaining the custody of their tokens when using Metamask.

In order to set up a new Metamask account users simply need to go to Metamask.io and then follow the step-by-step instructions before going to UniSwap in order to buy COV.

Deposit Your Funds in Metamask Wallet

When you are inside your Metamask account, the next step is to transfer funds into Metamask in order to be able to use them on UniSwap.

ETH is the best token to transfer into Metamask in order to buy COV, and this can be done by finding the wallet address to send it to, with it then registering once it has reached your Metamask account.

Once you have an amount of ETH in your Metamask and you will then be able to use it on UniSwap to buy COV easily and without hassle.

Trade COV for WETH

In UniSwap, COV is traded against wrapped Ethereum, which is a derivative form of Ethereum that can be attained by using ETH to buy it at a roughly 1 to 1 ratio.

Once you have wrapped ETH (WETH) in your Metamask account, you are able then to go to the COV trading page and select how much of your WETH you would like to trade for COV, with it showing the cost in WETH to and it also showing the amount of COV that you’ll receive.

The larger the size of the order that you place, the more slippage there will be, with this being as a result of UniSwap being an AMM and being bonding curve-based, and so it may be worth your while to create multiple smaller transactions and allow other users to push the price back towards an optimal level before buying more COV.

Final Thoughts

For investors that are looking to get in on the COV token before its price takes off in 2021, Uniswap and KuCoin are undoubtedly the best platforms to choose in order to be able to secure COV.

Both platforms have advantages and it depends on the kind of investment that will be made as to whether KuCoin or Uniswap is the better platform to select.

If you would like to learn more about the two best platforms to use in order to buy COV in 2021’s bull run, check out Uniswap and KuCoin.