Other than Bitcoin, altcoins are digital currencies (BTCUSD). Altcoins are similar to Bitcoin in some respects, but they are distinct in others. Some altcoins, for example, construct blocks and validate transactions using a different consensus mechanism. Alternatively, they set themselves apart from Bitcoin by offering new or enhanced features like as smart contracts or low price fluctuation.
The Covesting (symbol is COV) token is definitely one to keep an eye on with recognition by giants like Yahoo Finance, Market Watch, and The Street.
Newer and improved techniques of trading have been established since the beginning of the cryptocurrency market, with the most recent being the introduction of a platform known as “Covesting.” Experienced and beginner traders alike can benefit from lower risk and higher potential profit through Covesting, which has sparked a surge in interest from both traders who have previously found success through other means and those who are just getting started in the trading business. In this article, we’ll go over exactly what covesting is, how it works, how you may benefit from it, and how you can make the most of it to maximize your profits.
When we first heard about this one, we were sure it was too good to be true but with demo software already in place, it seems like this dream might really turn into a reality so we’re super excited to be breaking it down for you!
Covesting is essentially every wannabe trader’s dream.
Your portfolio will automatically copy what expert, veteran investors do, taking a percentage (18%) for the trader if there’s a profit. Basically, you choose an amount, you choose an investor and you press “Start” and voila! All the investors you can follow are listed with their verified track records plain to see so you can sort by things like profit, consistency, lack of losses and choose your favourite.
Furthermore, if you are an experienced investor, then you can apply here to be one of the traders being followed. This is pretty good for you too because you’re upping the ante on your profits but maintaining the same downside risk.
Some of the bonuses are that the software includes a comparison of prices from various exchanges all in one spot, which gives traders an edge. Furthermore, by the look of the demo, it’s pretty user-friendly with advanced charting, and last but definitely not least also included in the software will be news and information about the crypto world.
Altcoins By The Numbers
Supply of Token: 20,000,000 COV
Here’s some information about their recent sale since this is really an ICO becoming altcoin
Min contribution amount: 0.1 ETH
Sale: Nov. 24, 2017 – Jan.15th, 2018 – Raised $15 million+
Listing Date: January 24th, 2018 on HitBTC
2017 was a crazy year for this ICO and just goes to show how organized and capable their team is. They went from forming a team, preparing and hashing out the idea, writing up and releasing the whitepaper to raising $1.1 million, releasing the demo, and doing a good chunk of software development and testing.
In 2018, their plan is to get on multiple exchanges, release the beta version of the platform, do some publicity and marketing, release a mobile app, set up headquarters in London, (*pause for breath*) form partnerships, optimize the software and achieve global user acquisition.
Woooah! This is one ambitious team we’ve got here but so far they’ve surpassed expectations so we’re super excited to see how this year goes.
Are Altcoins Good for Investing?
Altcoins are gaining a lot of interest. Bitcoin Cash, Litecoin, and Ripple, which recently became the world’s third-largest cryptocurrency, are among them. Alternative cryptocurrencies, or altcoins, were created in response to the popularity of Bitcoin. The word “alternative to Bitcoin” is claimed to stand for “alternative to Bitcoin.”
The altcoin market is still in its infancy. It’s an unequal match. In the last decade, the number of altcoins listed on cryptocurrency exchanges has dramatically increased, attracting swarms of ordinary investors eager to profit from their price movements. However, such investors lack the cash required to produce adequate market liquidity. Altcoin valuations are subject to quicksilver fluctuation due to thin marketplaces and a lack of regulation.
This is why it’s important for anyone interested in investing in altcoins to do his homework, have a list of tools that you’ll need for trading crypto, and study them thoroughly. However, this does not mean that any altcoin could be a good investment. You still have to be careful and implement your own risk management strategy.
This is one of the few altcoins we’ve seen so far that has the potential to really disrupt the market with its software.
It still seems almost too good to be true so let’s wait and see how 2022 goes and we’ll keep you updated on the team’s progress!