First Trading Platform to Launch Crypto Fund Management Module
PrimeXBT has launched the preview of the new, and unique fund management module developed in partnership with Covesting.
PrimeXBT, a multi-asset Bitcoin-based trading platform offering up to 500x leverage on crypto, forex, commodities, stock indices, and more, today has launched the preview of the new, and unique fund management module developed in partnership with Covesting.
The preview and coming launch represents a monumental milestone for the two companies and innovation in the trading community.
Covesting Fund Management Module on PrimeXBT To Disrupt Trading
PrimeXBT and Covesting have formed a partnership that brings cutting-edge trading technology that the Covesting team has been hard at work developing, to PrimeXBT’s advanced trading platform where traders could fully take advantage of all of the tools necessary for the fund management module to reach its maximum potential.
The initial fund management concept has evolved into a full-scale peer-to-peer asset management module offering all of the unique features the Covesting team originally planned, but with some new additions that best utilize the margin trading platform’s most important features, such as up to 500x leverage, the ability to take long and short positions, and advanced order types.
Together these trading tools will disrupt the crypto market, providing traders of varying experience levels an equal chance to become successful, and even profit alongside one another synergistically.
The Covesting module, while initially designed for cryptocurrencies, will support all of the assets offered on PrimeXBT, including crypto, forex, commodities, stock indices, and more. By combining world-class asset variety, the best trading tools across the financial industry, disruptive innovation through the Covesting module, and so much more the trading platform has become the ultimate one-stop destination for all financial markets – digital and traditional.
How the Covesting Module Works on PrimeXBT
Using the Covesting module on PrimeXBT, traders from around the globe can become fund managers by creating a fund for others to invest in. Fund managers benefit by receiving a portion of the profit share earnings from investor’s success fees. The traders that regularly demonstrate a winning strategy will boost their public rankings and performance metrics. These detailed performance metrics will attract investors to invest in the fund manager’s fund, and help guide them in selecting the right fund to invest in according to their personal style and risk appetite.
Fund managers are encouraged to market and grow their following in order to entice more investors to their fund, which will increase their profit share earnings through PrimeXBT’s progressive investment system. Funds can be promoted on social media, forums, personal blogs, and more.
Fund Manager Workflow:
Create a fund and become a fund manager
Grow their following and boost performance ratings
Market their performance and profile to other investors and traders
Increase the capital they trade with
Earn success fees from their winning strategies
Fund managers may also opt to create a separate, private account for personal trading – or backtesting strategies without affecting public rankings.
The Covesting module allows investors to view the rankings of all available funds to invest in. There, investors can view the descriptions and the performance data relative to each respective fund. Ratings provide a snapshot view of fund performance and are calculated using ROI, the number of investors, drawdown ratio, fund creation date, and much more.
Once an investor finds a suitable fund to invest in, the investor selects an amount of capital to invest, and then the fund is added to the investor’s portfolio where real-time data on income generated can be viewed. Investors can fully withdraw any investments made, in the original increments the investment was made.
For those interested in investing in the fund, they enjoy a stress-free environment in which they can earn profit from the trades other top traders make, leveraging their skills, strategies, and experience levels.
Research funds to invest in using the ranking system
Invest capital into top-performing funds
Gain exposure to additional markets without the need for extensive due diligence
Enjoy worry-free trading. Let the pros do the trading
Importantly, fund managers cannot access or withdraw investor’s capital – their capital is theirs alone.
Covesting Module Launch Marks Milestone For Both Brands
For the first time in the crypto market, PrimeXBT becomes the first-ever trading platform to debut a full peer-to-peer asset management module, catering to traders of all experience levels. The Covesting module launch perfectly ties together the recent additions to PrimeXBT’s advanced trading platform, while Covesting achieves a major milestone in seeing its vision for an innovative trading experience realized for the first time on PrimeXBT.
Throughout the year, PrimeXBT has continued to increase the variety of and total assets offered on the platform. In addition to Bitcoin, and the most popular crypto assets paired against USD, PrimeXBT recently added additional crypto trading pairs with ETH/BTC, LTC/BTC, EOS/BTC, and XRP/BTC. Now traders can take hedge positions when altcoins are performing uncorrelated to Bitcoin.
Beyond digital assets, PrimeXBT added traditional assets such as 18 of the world’s most traded forex currency pairs, commodities, stock indices, and spot contracts for gold and silver. Together with digital assets, these traditional assets make PrimeXBT the ideal platform for portfolio diversification, risk management through trading uncorrelated assets, hedge positions and more advanced strategies.
In today’s fast-paced society, traders require the flexibility to access their portfolio and manage positions while away from a desktop computer. PrimeXBT brings the full state of assets, tools, order types and more to Android and iOS devices via the PrimeXBT mobile app.
These latest achievements join the growing list of reasons why traders from any market should sign up to PrimeXBT. PrimeXBT also offers:
100x leverage (with up to 500x on forex currencies and commodities)
The ability to take long and short positions, even simultaneously
Customizable user interface with a variety of widgets
8 order types such as O.C.O, and protection orders
Built-in charting software and multi-monitor support
Stable and reliable trading engine capable of extreme loads and high volume
Lucrative 4-level referral program for affiliate partners
These factors have made PrimeXBT the fastest growing trading platform in 2019, with trading volume and new user registrations climbing by the day. Another important point driving growth is that PrimeXBT values the privacy of its users, therefore no KYC or personal information is ever required during the registration process.