Where is the Best Trading Platform to Buy COV? [2021]

Over the past 12 months one of the top performing altcoins in the cryptocurrency market has been the COV token, with its price increasing more than 1,000% since March 2020 until now, and there being a myriad of new developments in covesting that have led to increased hype surrounding this token.

As more investors are looking to secure COV in the lead up to 2021’s bull run, the question has been asked of where the best trading platforms to buy COV are in the cryptocurrency market this year.

This guide breaks down this question and takes a look at what the COV token actually is, as well as the basics of covesting, before moving on to look at where covesting is available online and then finishing up with where the best trading platforms to buy COV are in 2021.

What is the COV Token?

The COV token is the native cryptocurrency of covesting, which is the first form of crypto copy trading to be widely available in the market having been launched in 2017 and growing rapidly over the past few years.

The COV token is used to unlock a range of utilities that are only available with COV and allows covesting users to be able to enjoy a range of advantages as they interact with PrimeXBT’s Covesting module.

As a result of the dramatically increased utility of the COV throughout 2020, its price has matched that growth in utility accordingly with more than a 1,000% increase in the price of COV throughout the past 12 months.

The Basics of Covesting

Covesting is the first form of crypto copy trading to be widely available, and while in the traditional asset market, copy trading has been a big part of it for the past 15 years, in the cryptocurrency market it was only with the launch of covesting 4 years ago that copy trading was available for the first time.

The basic structure of covesting is that experienced traders known as “strategy managers” are able to create peer-to-peer investment funds that are tied to specific strategies, and then other users known as “followers” are able to analyse different strategies for their merits and select which strategies they would like to follow, investing their capital into them, and sharing in their ROI’s as a result.

In return for the service that they provide, strategy managers earn a 20% success fee on any profit that is generated on behalf of their followers, with this incentivising strategy manages to create optimal trades that lead to the best outcomes possible.

Where is Covesting Available?

Covesting.io

Covesting.io is the home of covesting and it was launched in 2017, where the projects ICO raised more than $18 million in funding year.

Covesting.io is one of the most respected trading platforms on the market and is domiciled in Gibraltar, one of the world's leading fintech jurisdictions, with Covesting.io being the first project in history to receive a DLT (distributed ledger technology) license from the Gibraltar regulators.

The team behind covesting have worked diligently over the past 3 or 4 years to create the systems and technologies that would be needed to bring copy trading to the cryptocurrency market for the first time, and Covesting.io is also a long-standing member of the Crypto Valley Association as a result of this.

PrimeXBT

PrimeXBT is the world's largest multi-asset margin trading platform, having launched in 2017 with a waiting list of more than 150,000 traders, and rapidly growing over the past few years to today managing up to $3.6 billion of global trade each and every day.

PrimeXBT has a range of advantages that it provides for its users including the lowest fees on the market of just 0.05% on all trades, irrespective of the size of the trade or the asset being traded, as well as having advanced bank-grade security that has ensured that PrimeXBT has never been hacked.

Following a partnership with Covesting.io in early 2020, PrimeXBT developed and integrated the Covesting module into its systems, allowing its users to have direct access to covesting for the first time, and seeing it become the most popular cryptocurrency copy trading platform on the market in the process.

Where are the Best Trading Platforms to Buy COV?

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 is COV Used?

Recently there have been a number of COV token utilities that have been developed and integrated into PrimeXBT’s Covesting module in order to allow COV token holders to be able to gain additional utility when they covest.

These 4 COV token utilities are the ability for followers to increase the amount of each success fee that they retain, the ability for followers to remove the need to pay a 1% entry fee for following new strategy managers, the ability for managers to reduce their trading fees by up to 75%, and the new COV token burn program which will see the periodic buy and burn of COV tokens with up to 50% of the trading fees from the Covesting module going towards this.

With the announcement of the new COV token utilities, the market reacted positively with the price of COV increasing rapidly, with this also being timed with a surprise announcement from the Covesting team that almost 1% of all COV tokens in existence were bought and burnt by the project to celebrate the release of the new COV token utilities.

In Conclusion

There are a number of different platforms online in order to buy the COV token, with the two most used currently being UniSwap and KuCoin, and also PrimeXBT announcing that it will soon provide the option for covesting users to directly buy COV tokens from that platform as well.

The growth of covesting and the COV token over the past few years has been rapid and it has been as a result of the range of different forms of benefit that both covesting itself and the COV token utilities now provide for users which are unique and unavailable elsewhere.

If you would like to learn more about covesting and the COV token, check out PrimeXBT’s Covesting module.