Covesting

INTRODUCTION TO COVESTING

Covesting started as a conventional cryptocurrency venture but has grown into a comprehensive trading platform for cryptocurrency traders.

Covesting aims to lower the technological barrier and enable anyone to take part in the staking economy. The copy trader platform is one of Covesting’s prominent products and is excellent for new traders to learn how to trade and invest in the crypto market while mirror trading is used when one trader copies the trading strategy of another trader with the trades mirrored into their account.

Covesting’s trading platform allows users to trade crypto, gives access to market data and charting tools, discover algorithmic strategies, track their digital currencies, etc.

Trading bots make the process to get into the cryptocurrency trading sphere easier to maintain and help you in your quest to maximize your profits and minimize your losses. It helps to ensure maximum returns and can make an extraordinary portfolio for you.

HISTORY AND HEADQUARTERS OF COVESTING

Covesting is a fully licensed Distributed ledger technology (DLT) services provider and software development company that builds innovative solutions and partners with ambitious companies around the world.

The Covesting platform was launched in August 2025, after being beta-tested for months before that to ensure excellence. The Gibraltar-based company works with both retail and institutional customers in the cryptocurrency space.

Covesting was founded by Lithuanian trader Dmitrij Pruglo, who is also Covesting’s publicly active CEO. Pruglo has over 12 years of experience trading at some of the largest Lithuanian and Danish financial institutions and banks. Covesting platform leverages the Ethereum blockchain to make all gains from copy-trading transparent and publicly verifiable.

FEATURES OF COVESTING AS TRADING PLATFORM

The Covesting platform comprises several helpful features, among which are the following:

Copy-trading

The copy-trading function allows novice traders to use the trading strategies of other experienced traders on the platform to improve their trading skills, but also improve their gains.

Liquidity aggregation

Covesting’s liquidity aggregation means that the pricing of the platform will be in direct accordance with that of the leading platforms, that the exchange rates will be optimal, that the execution of trades will be almost instantaneous, and that users have access to a wide array of digital assets.

Regulations

Covesting is a member of the Enterprise Ethereum Alliance (EEA), as well as a member of the Crypto Valley Association. The platform has licenses in Estonia and has obtained Gibraltar’s DLT license. Covesting has a KYC procedure to ensure that the funds are not used for money laundering purposes or other types of illicit financing.

Security

Covesting uses strict security standards such as two-factor authentication, cold storage, a multi-cluster system architecture, full data encryption, and anti-DDoS protection.

Tools

The Covesting Yield product allows people who already hold digital assets to earn a yield on them while Covesting takes care of the decentralized finance (DeFi) staking process. DeFi staking is an increasingly popular part of the crypto industry and is considered one of the best ways to generate passive income by holding cryptocurrency assets.

COV token

The Covesting COV token is an ERC-20 token built on the Ethereum blockchain and designed to be used with Covesting products. The token is used to pay for trading fees, profits made from copy trading are paid in COV tokens, and reduces the platform fees for each profitable trade.

ADVANTAGES OF COVESTING

Covesting offers simple logic-based decisions, based on an algorithm formulated for maximum profit. Advantages include the following:

• No previous experience is needed to copy other traders’ Strategies
• No limit on the number of strategies you follow
• No mandatory KYC checks
• Quite a simple user interface
• Top-notch security
• Systems operate with 99%+ uptime and are reliable and scalable

DISADVANTAGES OF COVESTING

• A disadvantage of Covesting is that it no longer provides exchange services to retail customers. It discontinued this service.
• A lack of other partnerships. The demand for its products is correlated with the COV token so more awareness of the company and what it offers will provide an added benefit for COV token holders.
• There is not much trading volume on the Covesting platform.
• Some documentation about the Covesting platform appears to be out of date or incorrect.

PROS AND CONS OF COVESTING SUMMARISED

COST AND FEES OF USING COVESTING

There are three types of fees on the Covesting exchange: trading fees, copy trading fees, and deposit and withdrawal fees.

Copy-trading fees are a 2% entry fee when you start following a trader, a 10% platform fee for the profits you made and taken when you unfollow a trader, and an 18% trader fee for the profits from trading assets.

Deposit and withdrawal fees vary depending on the asset.

Transferring funds to exchange is free, but you will pay 50 GBP or 50 EUR when withdrawing GBP or EUR funds.

There are no deposit fees for cryptocurrencies but minimum deposit amounts.

PAYMENT METHODS

GBP, EUR, and crypto can be used to fund accounts.

SAFETY AND REGULATION

Covesting’s cyber-security framework keeps strict measures and practices in place to protect its software solutions against any eventualities and threats. Periodical stress tests and security audits are conducted to ensure compliance with the strictest security standards.

The offline wallet system provides an important security measure against hacking, theft, or loss. Asset transfers from Cold storage require the actions of multiple employees. All private keys are stored in safe deposit boxes and vaults distributed geographically. The hot wallet keys are generated, stored, and managed in HSM (hardware security modules) serviced by Azure Key Vault.

Platform Protection is secured through 2FA (provided by Google Auth) and provides security to the login/registration processes, as well as executing withdrawals.

All website traffic runs through encrypted SSL (https) and Covesting partners with Cloudfare and other vendors to mitigate potential distributed denial-of-service (“DDoS”) attacks.

All passwords are cryptographically hashed (using bcrypt with a cost factor of 12) while all other sensitive data is encrypted.

Covesting is a fully licensed Distributed Ledger Technology Services Provider.

HOW TO USE COVESTING AS A PLATFORM

While retail traders can no longer directly open an account with Covesting, they are still able to use their trading tools via other platforms, such as PrimeXBT.

If you are new to trading or investing, using Covesting tools will be a great tool for you to learn from someone more experienced and, if you pick the right trader and strategy, to make some money.

To open your account, start the process from the homepage by using the appropriate link and supply the necessary personal information and email address. A confirmation link will be sent to you via mail, which you must confirm.

Link your exchange account to your Covesting account and deposit funds.

Next, deposit an amount depending on your selected trader in your trade-mate account.

Find several traders and their stats and select the trader you prefer and subscribe to, then click on the auto-trade feature.

CUSTOMER SUPPORT

Potential users need to be assured that the platform they use can offer the necessary support and help whenever they may need it. The ease with which such support teams can be contacted may play a significant role when choosing a platform.

The Covesting platform gives you three options to communicate with the support team: Live Chat, a fillable General Enquiries form, and an extensive FAQ page called the Covesting Help Center. The Live Chat is in fact just a fillable email template form.

EDUCATION AND TRAINING

Before starting to trade, potential Covesting clients should arm themselves with all possible information and trading skills needed to be successful in the world of cryptocurrency trading. If Covesting ’s website itself does not provide enough means, a trader should explore other information sources to obtain those skills and knowledge.

RESEARCH

Potential traders always need to do as much as possible research about speculative trading before commencing to do it. Successful trading relies heavily on knowledge and understanding of the markets and the platform; therefore, research options form an integral part of its features when choosing the right company to trade with.

SUMMARY

Covesting copy trading brings any type of trader together into a growing community of shared success. The platform has already seen several new iterations since its launch and even more to be expected.

The Covesting platform is extremely user-friendly, and it is fast, it is sleek, and it is not crammed with extra information which is unrelated to trading.

A trader can also methodically intuitively track your portfolio, a trader can print financial reports (which will come in very handy when the next tax season comes around) and most importantly, you can automatically copy the trades of proven cryptocurrency trading veterans.

One of the most impressive things about Covesting is the fact that you can tell that a lot of work has gone into building their products.

The debut of the Covesting Module on PrimeXBT is proof that the Covesting team can deliver extremely valuable tools to a market that is starving for them.

DISCLAIMER

Covesting warns potential traders that Forex and Crypto trading always carries a prominent level of risk, therefore may not be suitable for all investors.

Covesting products are complex instruments and come with a substantial risk of losing money rapidly due to leverage, thus not necessarily suitable for all types of investors.

Potential traders should consider whether they understand how these products work and whether they can afford to take the substantial risk of losing money.

FAQ

What is a crypto trading bot?

Cryptocurrency trading bots are software programs that can help you automate your trading strategy and take full advantage of the crypto exchange market. Bots can carry out trading actions even while you are sleeping.

Why are crypto trading bots useful?

Crypto trading bots remove fear and emotions from the trading calculation by allowing investors to execute trades based on a predesigned strategy. Bots enable a trader to run his trading plan 24/7 so if you are a part-time cryptocurrency trader or are unable to always stay on top of the market, a bot allows you to trade efficiently without having to dedicate lots of time to market analysis.

Are trading bots legal?

Cryptocurrency trading bots are fully legal but not all brokers allow bot trading. Algorithmic trading is legal, but many people have objections to how automated trading can impact the markets. There are however no rules or laws in place that keep retail traders from making use of trading algorithms.

Are trading bots safe to use?

Covesting takes security very seriously and it follows the strictest processes to assure a higher level of security by using encrypted data.

How to choose the best trading bot?

There are specific key functions to remember when choosing a cryptocurrency trading bot. You need to understand functions like reliability, security, profitability, transparency, and ease of use when researching bots, so it is important you understand exactly what each one means.

Do I need to deposit funds?

It is optional and usually depends on the service a trader wants to use.

Are there trading fees charged?

No, Covesting does not take any fees from your trades. The only fee you need to pay is the one from your enabled exchange, nothing from Covesting.

What types of payment does Covesting accept?

Currently, Covesting accepts.

How much profit can a trader make?

As a platform Covesting’s role is that of an intermediary, to make it easy to trade or invest for traders, but it cannot assure any profit. Profit depends on the trader’s choices and the market conditions. Crypto markets are very volatile; therefore, traders are always encouraged to only manage the funds they are willing to lose.

Is a trading bot easy to use?

Yes, if you decide to go with Profit Sharing, which is the easiest way to invest, you only need to choose a trader to invest in and allocate the desired amount. And if you need help, support is available.