Following in the footsteps of its wildly successful predecessors, an advanced peer-to-peer copy-trading platform, which was recently launched in PrimeXBT, it could change the trading community forever. This is why the Covesting copy-trading module is the next financial evolution, driven by the rapid expansion of peer-to-peer networks.
Peer-to-peer systems provide users with flexibility that adapts to every lifestyle
Peer-to-peer technology empowers users and any industry that fits well with this model is forever transformed into something superior. These networks grow right under our noses because they allow flexibility and allow users to participate in the system as they see fit.
Take Uber, for example. The taxi industry has never been the same since it started. The flexibility of allowing drivers to connect to the grid when they want and disconnect when they want immediately appealed to those with free time on their hands. Also great for those with busy schedules at the world accelerated today.
By allowing users to drive their own vehicles, the business model has very little overhead and allowed the company to grow into a giant. Since then, Uber has expanded into food delivery and much more, all powered through a massive peer-to-peer network that has escalated significantly over the years.
Peer-to-peer platforms are growing exponentially due to the network effect. Each user who sees the value of the experience goes on to tell others about it and adds more users to the service. At the same time, this growth leads to greater awareness and visibility and more familiarity with the public.
Over time, these platforms become everyday staples that replace the old way of doing things. Uber’s growth rate is a clear example of how constant and fast the user base of this type of network grows.
Tinder clicked: initiate peer-to-peer connection
A closer comparison to Covesting is Tinder because of the way it connects two people by choice and not just because of a random connection. With Uber, you get what you get and you don’t have many options in this regard.
With Tinder, the peer-to-peer network connects singles with each other for potential connections. But users should swipe to the right if they are attracted and want to take things further. If they slide to the left, the next possible match will be displayed.
Like Uber, Tinder’s growth increased steadily and rapidly thanks to the unstoppable power of the network effect. But that’s not the only reason Covesting will have a huge impact on the future of decentralized finance.
Covesting connects the most qualified traders with those who don’t have time for technical analysis
Like Tinder, Covesting connects the person who is in charge of carrying out any transaction to buy and sell assets in the financial markets, or traders with each other. But instead of looking for a good time, these traders expect a solid return on investment (ROI). Rather than looking for someone to take long walks on the beach with, they want someone who will take long and short Bitcoin positions, and trade CFDs on stock indices, gold, oil, and more.
And instead of swiping to the right, less skilled traders or those who simply don’t have time to invest in technical analysis or follow financial news can allow other traders to make money for them. But how?
That is the power of the Covesting module, which enables new and experienced traders to benefit together. Inexperienced traders can “follow” successful traders who became strategy managers and benefit from their years of real-world experience and natural talent. Strategy managers get a portion of the profits generated from the capital of followers to increase their own capital. By making trading beneficial for all traders and removing uncertainties for the less experienced, Covesting has the potential to turn the world of finance upside down.
And like Uber, Tinder and the previous ones mentioned, Covesting is already seeing the first stages of that exponential growth by network effect. Users are satisfied, share their PnL screenshots online, and brag about their ROI on Twitter, Telegram, and financial community subreddits.
These traders earned their bragging rights and everyone knows it. Covesting also has a five-star rating system like Uber that ensures that any strategy meets the highest profit, loss and risk criteria, updated in real time via a transparent, public global leaderboard.
The copy-trading peer-to-peer Covesting module is now available at PrimeXBT
Covesting is now available on PrimeXBT, an award-winning Bitcoin-based leveraged trading platform that offers CFDs on cryptocurrencies, oil and gas, stock indices, metals, forex and more. The platform experienced the beginning of exponential growth as a result of the network; and an explosion of new user registrations thanks to word of mouth and the spread of messages about the many benefits that Covesting offers.
With so many buzz from the start, Covesting is ready to continue the path of success of big names like Uber, Tinder, and even Bitcoin.