Altcoins Made Easy | Covesting

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!

altcoins

Real-World Value


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.

covesting alt coins
photo from: www.fingerlakes1.com

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

Project Timeline


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.

Conclusion


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!

Additional References

4 thoughts on “Altcoins Made Easy | Covesting”

  1. Hi Martina, Let me see if I understand this. I sign up and I invest a certain amount of money in a cryptocurrency. I then select an investor who is actively trading. If the investor’s. The software then takes my investment and mirrors the actions of the trader. Is that what happens? If the investor does well, I do well and pay him or her 18% of the profits.

    This is intriguing. Beside the Covest website (I’ve checked that out), is there any other place I can read up on this?

    Thank you for a very informative article.

    Reply
    • Hey Joe, 

      So yes except it’s not “in a cryptocurrency” – it’s just in the software. Then that software will mimic the investment proportions of the investor that you choose and invest your money into the respective cryptocurrencies (eg. 50% Bitcoin, 20% Ripple, 15% Ethereum, etc.). If Bitcoin goes up, then you keep 82% of the profits and the investor keeps 18% as a “reward” for picking a good investment. 

      Everything is automated by the Covesting software. The best place to get the most information is the Whitepaper, which I’ve linked to at the end of the article. I would also recommend listening to the Bad Crypto Podcast (also linked) because they interview the founder of the ICO in that episode. 

      Hope this helps! Please don’t hesitate to get in touch if you have anymore questions or concerns. 

      Cheers, 

      Martina 

      Reply
  2. Hi Martina,
    What I understand is we invest money in cryptocurrency through Covesting software and it does everything including selecting a good trader for us to share the 18% profit Right! That means everything is automated and invest and be seated to see the profit. As a matter of fact, presently the value of the cryptocurrency has gown down abruptly. What will the Covesting software do in this case?How the loss will be shared with the Trader we follow?
    Thanks for your informative article

    Reply
    • Hey Prabakaran, 

      Yes that is absolutely correct! 

      In the case of losses, the loss only goes through if the investor sells off while the market is down. Right now, everyone who is experienced is most likely holding through the downturn. If, however, the investor does sell off at a loss, the loss is registered by the investor and whoever is following them – there is no percentage given or taken. 

      Let me know if you have any further questions! 

      Cheers, 

      Martina 

      Reply

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