Covesting, a cryptocurrency exchange and trading platform, announced on Friday it has formed a new partnership with cryptocurrency trading platform Prime XBT to launch copy trading. According to Covesting, copy trading allows novice traders to follow traders and mimic tried-and-true trading strategies, giving them a competitive edge and a shortcut to profit.
“The COV token, a utility token designed to unlock the potential of the copy-trading module, will be integrated into the PrimeXBT’s third-party platform and become an essential part of the copy trading experience.”
Covesting also noted that it and PrimeXBT anticipate finalizing the integration of both the copy trading module and COV utility token within the next four months. While sharing more details about the partnership, Covesting Founder and CEO, Dmitrij Pruglo, stated:
“PrimeXBT is one of the fastest growing startups in the crypto industry, offering among the best platforms for competitive trading conditions. We firmly believe our copy trading module will be extremely beneficial for PrimeXBT platform, which allows trading with 100x leverage across a variety of digital assets.”
Pruglo went on to add:
“Copy trading is at the core of Covesting, and we’re proud to offer the state of the art, proprietary technology to integrate with other industry players.”