Introduction
Covesting Coin has gained attention in the cryptocurrency world for its role in enhancing copy trading and decentralized finance (DeFi). Designed to power the Covesting ecosystem, this token enables traders and investors to benefit from a unique model that rewards participation. Whether it’s the Covesting Coin ICO, the coin burn mechanism, or its availability on major exchanges, the project has become an exciting opportunity for both beginners and professionals in the crypto market.
What is Covesting Coin?
Covesting is a blockchain-based company that creates advanced trading tools for cryptocurrency users. One of its key products is the Covesting Module, which allows users to copy the strategies of top-performing crypto traders. This innovative system makes professional trading strategies accessible to everyday investors without needing advanced market knowledge.
Recently, Covesting introduced the beta version of its licensed and secure trading platform. It offers powerful features such as copy trading, user portfolio management, and multi-currency support. Over time, the Covesting Module is also expected to integrate with other leading exchanges.
Is Covesting Legit?
Yes, Covesting is a legitimate project. The company is registered in Gibraltar and operates as a fully licensed Distributed Ledger Technology (DLT) Services Provider. Since its announcement in 2017, the team has overcome strict regulatory hurdles to ensure full compliance with international laws and regulations.
Is Covesting Safe?
Security is a top priority for Covesting. The platform uses:
- SSL encryption to secure all web traffic.
- Cloudflare protection against DDoS attacks.
- Cryptographically hashed passwords and 2FA for account safety.
- Cold storage (95% of crypto funds stored in multi-signature wallets).
- Hot wallets secured via Microsoft Azure Key Vault.
- Separate bank accounts for user funds and company operations.
This multi-layered approach ensures user funds remain safe from cyber threats.
History of Covesting
Covesting was founded by Dmitrij Pruglo, a Lithuanian trader with over 12 years of financial experience. Inspired by peer-to-peer models like Airbnb and Uber, Pruglo envisioned a copy-trading platform that would let retail investors follow professional traders without handing over direct control of their funds.
The Covesting whitepaper was released in late 2017, laying out the foundation for what later became one of the most recognized copy-trading projects in crypto.
What is the COV token?
The COV token is an ERC-20 utility token on the Ethereum blockchain. It powers the Covesting ecosystem with multiple use cases:
- Fee Discounts – COV can be used to pay trading fees at reduced costs.
- Token Burn—Tokens used for fees are permanently removed, making COV a deflationary asset.
- Profit Rewards—Gains from copy trading are distributed in COV tokens.
- Staking—(Upcoming) Users will be able to stake COV for benefits like access to advanced trading tools.
The token was initially designed for Covesting’s exchange but is now available on multiple platforms that integrate the Covesting Module.
COV Token ICO
- Pre-ICO (Oct 2017): Raised ~$600,000 at $0.40/token.
- ICO (Nov–Dec 2017): Sold 15 million tokens at ~$0.60/token, raising ~$8.5M.
- Total Supply: 20 million tokens.
- Allocation: 40% for development, 25% for marketing, 30% for partnerships, and 5% for legal compliance.
The ICO helped establish Covesting’s long-term roadmap and development plans.
COV Token Price Analysis
- All-Time High (2018): Nearly $3.00.
- Lowest Point (2020): Below $0.01.
- Recent Recovery: Prices rebounded after the Covesting Module launch on PrimeXBT, stabilizing around $0.30.
Despite past volatility, COV remains a token with strong utility and long-term potential.
COV Exchange Listings
COV is available on:
- Covesting platform
- KuCoin
- HitBTC
However, low trading volumes make liquidity limited, so buyers may face slightly higher prices.
COV Wallets
Since it is an ERC-20 token, COV can be stored in most Ethereum-compatible wallets, including:
- Ledger & Trezor (hardware wallets)
- Exodus Wallet
- Atomic Wallet
This flexibility makes COV easy to store and transfer securely.
Covesting Roadmap
Covesting has steadily followed its roadmap since its ICO:
- 2018: Tokens listed on KuCoin & HitBTC.
- 2018: Joined the Enterprise Ethereum Alliance alongside firms like Microsoft, Intel, and JPMorgan.
- 2020 onward: Focused on PrimeXBT integration and expanding copy-trading features.
While some features like the mobile app remain pending, Covesting continues to push forward with partnerships and product adoption.
Covesting Platform Features
The Covesting platform is user-friendly and designed for both beginners and experienced traders. Features include:
- Dashboard: Track portfolio and performance.
- Instant Fiat-Crypto Gateway.
- TradingView integration for advanced charting.
- Funds Tab to manage crypto & fiat balances.
- Copy-trading directory of top-performing traders.
- Referral incentives & reports.
- Dark/light mode and customer support tools.
KYC and Supported Assets
To use the platform, users must complete KYC with valid documents. Supported assets include:
- Cryptocurrencies: BTC, ETH, LTC, DASH, BCH, USDT, DGB, and COV.
- Fiat currencies: USD, EUR, GBP.
Fees on Covesting
- Trading Fees: Based on monthly volume, favoring market makers.
- Copy Trading Fees: 2% entry fee, 10% platform fee, 18% trader fee rs kee keep 72% of profits.)
- Withdrawal Fees: 50 EUR/GBP for fiat withdrawals, free deposits.
Referral Program
Users can earn Bitcoin by referring others to Covesting. Referral rewards range from 20% to 40% of trading fees, depending on the trading activity of referred users.
Customer Support
Covesting provides support through:
- Live Chat (email-based)
- General Inquiry Form
- Help Center (FAQ)
While some content may be outdated, users generally have multiple support options available.
Covesting Coin ICO and Early Adoption
The Covesting Coin ICO helped establish the foundation for the project. Early investors gained access to a token that supported innovation in automated trading. Since then, the project has evolved into a leading name in the niche of crypto copy trading.
The Role of Covesting Coin Burn
One of the most attractive features for long-term holders is the Covest to Burn Coins program. Through regular Covesting Coin burn events, a portion of the tokens are permanently removed from circulation. This reduces the overall supply, helping maintain scarcity and potentially increasing value over time.
Covesting Coin Exchange Availability
Investors can trade Covesting Coin on several cryptocurrency exchanges, where it is paired with leading assets like Bitcoin and Ethereum. Availability across multiple platforms enhances liquidity, making it easier for new users to enter the market.
Covesting Coin Market and Market Cap
The Covesting Coin market has grown steadily since its launch. Its market cap serves as an indicator of both adoption and investor confidence. Traders and analysts frequently track this metric to evaluate the project’s growth potential.
For broader insights into related innovations like cross-chain interoperability and blockchain scalability solutions, you can explore more at Blockwave Trends.
Covesting Coin News and Updates
Keeping up with the latest Covesting Coin news is crucial for investors. Updates often include announcements on partnerships, exchange listings, or new features on the Covesting platform. Each update can have a significant impact on token price and demand.
Future Potential of Covesting Coin
With its strong foundation, token burn mechanics, and utility in copy trading, Covesting Coin continues to be an attractive option for investors seeking innovative blockchain-based financial tools. As the DeFi market expands, the coin’s relevance may also grow, supported by a vibrant ecosystem and community.
Summary
Covesting Coin (COV) is a utility token powering the Covesting ecosystem, offering benefits like reduced trading fees, enhanced copy-trading features, and exclusive rewards. It bridges traders and investors by enabling profit-sharing while improving platform usability.
Conclusion
In conclusion, Covesting Coin plays a vital role in strengthening the Covesting platform by providing utility, incentives, and transparency. As the crypto market grows, COV’s value lies in its ability to support copy-trading innovation and enhance user experience, making it a promising asset for both traders and investors.
FAQs About Covesting Coin
1. What is Covesting Coin?
Covesting Coin is the native utility token of the Covesting copy trading platform, designed to enhance user participation and rewards.
2. How does Covesting Coin burn work?
Through scheduled burn events, a portion of Covesting tokens is permanently removed from circulation to increase scarcity.
3. Where can I buy Covesting Coin?
It is available on major cryptocurrency exchanges that support Covesting Coin trading pairs.
4. What was the purpose of the Covesting Coin ICO?
The ICO funded platform development and rewarded early investors with access to utility tokens.
5. Why is market cap important for Covesting Coin?
Market cap indicates the overall valuation of the project and reflects its growth in the crypto industry.
6. Does Covesting Coin provide any trading benefits?
Yes, holders receive reduced trading fees, special rewards, and access to advanced features.
7. What type of investors use Covesting Coin?
Both beginner investors who follow experts and professional traders benefit from using the token.
8. How often does Covesting Coin release news updates?
Regular updates are shared through the official platform, social media, and crypto news outlets.
9. Can I stake Covesting Coin?
Yes, some platforms provide staking opportunities, allowing users to earn passive income.
10. What is the future outlook for Covesting Coin?
With its growing adoption, token burn strategy, and utility in copy trading, the coin is expected to remain a strong player in the DeFi space.