Ignoring the rise of cryptocurrencies in the past two years would be a naive and expensive mistake.
With ICOs and cryptocurrencies, alternative channels of investments have opened to the public which makes it one of the most talked about (and scrutinized) topics in the investment world.
While the total market cap of all cryptocurrencies in circulation has barely touched the $200bn mark, researchers predict that the cap could grow to as much as a trillion dollars in 5 years.
This represents a huge opportunity for investors to take part in the next gold rush in an industry still in its infancy.
Great rewards, however, come with great risks.
The learning curve for cryptocurrency investments should not be underestimated as the industry is relatively new and making costly mistakes is something that is very likely to happen.
This is amplified by the fact that ICOs do not have a complete set of regulations bar some countries (in the US and Singapore) which makes it even more risky to the casual investor.
To properly invest (and profit) from cryptocurrencies, having experience in knowing the signals of a good investment is essential but extremely difficult and time-consuming to learn, particularly if you don’t know much about cryptos.
You can entrust your funds with a digital asset manager or firm but again, the lack of regulations in place means you cannot fully trust your manager unless they’re an established firm which usually only takes in institutional clients.
What’s the solution?
Covesting, a cryptocurrency-based startup, has developed a platform solely to cryptocurrency-asset management services available to every individual.
With the help of the blockchain and primarily smart contracts, the Covesting platform allows investors to grow their portfolio by copying and following the trading activities of another successful trader.
Following the footsteps of real-world copy-trading platforms, Covesting allows regular investors (even small ones) to search and compare the performance of a growing list of over 100 cryptocurrency traders with good performances.
Investors can then select a trader they choose to follow and their portfolio will then be managed based on a mirror of the chosen trader’s strategies.
Investors can also easily browse the list to find professional cryptocurrency traders that match their goals. For example, some traders might have a short-term strategy based off flipping while some prefer a strategy that is more stretched out.
The platform does not only benefit investors; it also helps rising talents in the cryptocurrency trading scene to bring their trading results to the table and compare with other traders in a fair, yet competitive environment.
To back the project up, Covesting is led by a team extremely experienced in global financial markets and the digitalization of the industry.
Led by former managers of Saxo Bank, one of Europe’s most reliable investment banks, they have all the necessary experience and criteria needed for the development (and success) of Covesting.
The platform’s development team is also pushing for a beta launch of the Covesting app by the 20th of November which should allow contributors to try out the platform and check the features out for themselves just before the ICO.
Investors start off by signing up and browsing through a large list of successful trading strategies of cryptocurrency traders. They then find a strategy they like and subscribe to the trader with that particular strategy.
After subscribing, the investor’s portfolio is now mirrored to match the trader’s activities which means his or her portfolio will now follow whatever trading decision the trader does.
While investors might get worried about handing their funds over to someone they don’t know, this is not a thing to worry about with Covesting.
Instead of handing the funds over to the traders, Covesting offers segregated accounts for every investor. Every copy-trade will be done on this segregated account which means none of your funds go directly to the trader.
Each member can have up to 20 different trading models which makes diversification a piece of cake. Each portfolio will also have individual risk management attached to it, enhancing the safety of your funds.
The Covesting platform also allows users to access real-time data of their portfolio as well as past trading history. These reports reporting enables every user to track their portfolio anytime, anywhere.
Like any other trading network, there is a dedicated newsfeed in the Covesting platform which shows users updates and news about anything related to their investments.
Traders can post relevant information about their trades, explain the whys or hows behind their decisions, or share knowledge with the community for investors to learn more about cryptocurrency trading.
Covesting is the closest thing to passive income you’ll ever get.
Instead of frying your brain in making tough decisions, Covesting allows you to let someone who’s actually good at what they’re doing to help grow your portfolio; so you can sit back and relax while you get nice returns.
Covesting also opens up learning opportunities from the managers. Think of it as a mentor program – you’re not only watching your investments grow, you’re also learning how to trade profitably and what NOT to do.
For traders (also known as model managers), they don’t have to spend time looking for clients or firms to prove their worth. Everything is available on the platform and if they’re good, clients come to them – not the other way around.
Of course, this also includes the additional fees they get from performing good trades and having more clients with them.
Covesting will launch a crowdsale for the Covesting token (COV), which is an ERC20 token.
All proceeds from the token sale will fund the project’s development costs, marketing, and user acquisition costs, as well as fund the operations of the business.
The pre-sale for the COV token will begin on October 20th, with a special rate of 1 ETH = 300 COV.
The number of tokens on pre-sale, however, is only limited to 1,500,000 COV.
The actual ICO will begin on the 24th of November, with the rest of the allocated tokens being on sale at a rate of 1 ETH = 150 COV.
To participate in the ICO or learn more about the project, click here to head over to Covesting’s official homepage