Covesting Strategy Following allows you to Follow desired Strategies with your own capital and profit passively from the successful trading activity of Strategy managers.
(For tips on choosing strategy see our guide 'Choosing a Strategy that best suits you. Essential tips.')
To Follow a Strategy, go to the Covesting Strategy Rating page. Here you will find a list of all active Strategies and their core statistics:
Click on a Strategy to bring up that Strategy's performance and Following page, then click 'Follow':
2. Select the initial following amount, and make sure to review the Following's details. Enable any desired utility (optional) if you wish. Click 'Follow' to start the Following:
Followers can Follow numerous Strategies simultaneously and can also have multiple active Followings in any Strategy.
When Following Strategies, it is important to take into account that a 1% entry fee is incurred whenever a Following is started. Activating Utility via COV token staking allows followers to get a 100% discount on entry fees, as well increasing profit share in their favor. To enable utility click on any of the 'Reduce fee' options (as outlined in the screenshot above).
All active Followings and Following history are reflected in your 'Portfolio':
To start another Following for the same Strategy or a different Strategy, simply select the desired Strategy and repeat the steps above.
To learn how to manage your Followings, see our 'Managing your Portfolio' guide.
Each separate currency can be used only in Margin trading accounts, Strategies and Followings denominated in the SAME currency. For example, BTC can be used in Strategies denominated only in BTC, while ETH can be used in Strategies denominated only in ETH.
If you wish to start following a Strategy, make sure to deposit the same currency as the one that the Strategy is denominated in.
Alternatively, using our in-wallet Currency Exchange feature allows you to exchange BTC, ETH, USDT and USDC amongst each other, directly between your PrimeXBT account Wallets.