PrimeXBT has announced that it has listed seven new altcoin assets next to its enormous existing lineup of other digital assets and traditional assets, such as Bitcoin, gold, oil, natural gas, and major stock indices and forex currencies. The new assets include Solana, Polkadot, Cardano, Chainlink, Dogecoin, Uniswap, and XRP.
That also means that Covesting strategy managers can also access these incredible new opportunities and more all from a single account. This guide will talk about what Covesting currently offers, what is to come, and how both strategy managers and followers alike will benefit from the introduction of new cryptocurrencies.
PrimeXBT Lists Seven Altcoins That Covesting Strategy Managers Can Access
Before we dig into how Covesting strategy managers and followers can become more profitable than ever before thanks to the introduction of the new coins, let’s first explain what these coins are and why they matter.
For many years, it was only Bitcoin high wealth investors and traders cared about, and more recently, Ethereum has grown and given Bitcoin a run for its trading volume on futures and other derivatives trading platforms. However, not many other altcoins are available for things like CFD trading.
These altcoins now command billions of dollars worth of market cap. They are becoming as respected as Bitcoin and Ethereum before it, which are now included in portfolios of smart money investors next to things like gold, oil, stock indices, and more. With the award-winning synthetic trading contracts platform PrimeXBT already having forex currencies, commodities, stock indices, and cryptocurrencies like Bitcoin, Ethereum, Litecoin, and EOS, introducing more coins made complete sense as the industry grew.
The New Crypto Assets Explained In Detail
The new assets include Solana, Polkadot, Cardano, Chainlink, Dogecoin, Uniswap, and XRP. XRP, for example, has a legacy older than Ethereum and has previously reached the number two rank behind only Bitcoin. The coin has recently witnessed a strong resurgence in interest, now that investors are rooting for it as the underdog.
Coins like ADA, SOL, and DOGE all have risen 15,000% or more since 2021 first started but have begun to settle down. Traders can now long those enormous rallies and go short when they have ended using PrimeXBT.
Fundamentally solid coins like Polkadot and Chainlink have offered more stable yet still sizable returns, and Uniswap’s UNI token – a coin first offered to platform users for free, has climbed by 500% since its debut.
The list of coins has been unstoppable since the recent altcoin season began, and there is no telling when it could end. Regardless if it has or hasn’t already matters little, as traders can still profit from these coins that have since made it and earned a place among other respectable coins and assets.
What PrimeXBT Offers Traders Of All Skill And Capital Levels
PrimeXBT is a cutting-edge, advanced trading platform that offers some of the best tools for novices and professionals alike. There are long and short positions, built-in technical analysis software, and the Covesting copy trading module, which we’ll get to next. The platform also boasts a fully personalized experience through a dedicated account manager, and customer service is available 24/7.
The Covesting copy trading module is another alternative to the more traditional solutions offered on PrimeXBT. Users can either become followers or strategy managers and depending on which path is chosen; the experience diverges from there.
Both types of traders use the same platform and go by the same fully transparent leaderboards and the data it contains; however, followers must use that data to select which strategy managers to follow. Followers don’t do any of the trading themselves, but by following a strategy manager who regularly shows success, followers will book profits when the strategy manager is successful by copying their trades.
Strategy managers also make money by getting a profit share from followers’ capital, so there is plenty of incentive for the strategy manager to always do their best, for themselves and for others. High performance leads to increased total profits and a higher rank in the leaderboards. A better rank means more visibility with potential followers, which in turn means more profit potential.
Covesting strategy managers have been known to reach 30,000% ROI or higher, making their followers millions in profits collectively. Now imagine these same more experienced and skilled traders able to access altcoins that trend 15,000% in one direction, with as much as 1:10 leverage for Covesting strategy managers. Margin accounts on PrimeXBT can trade the same altcoins with even more power at 1:20 leverage. Be sure to check the website for the latest fees and conditions, as these volatile assets could cause changes to occur more frequently than with other assets listed.
How PrimeXBT And Covesting Keep Growing The Ecosystem
Covesting is a quickly growing ecosystem where users can do more than just copy trade. The entire experience is also connected by the COV utility token, which by staking can unlock additional benefits for strategy managers and followers alike. Strategy managers can get up to a 30% trading fee discount with three progressive membership levels: Premium, Advanced, and Elite.
The same account memberships also give followers unique benefits such as increased profit share, increased following limits, and no entry fees on new followings. Staking COV tokens is simple and also will unlock up to a 2x APY increase when Covesting Yield Accounts go live in several weeks.
When the tool makes its debut, Covesting Yield Accounts will offer users of any capital level or expertise to easily access top DeFi protocols for up to an APY of 35%. Best of all, this is all done through the PrimeXBT account dashboard in the Covesting section, making the entire experience more accessible than anywhere else.
The update and new asset listings are just one of many ways that PrimeXBT and Covesting are continuously innovating for the greater good of the trading community at large. When a market leader pushes the envelope, it forces other competitors to try and catch up, which is a win-win for all.