Bitcoin was created in 2008 by Satoshi Nakamoto, who, in the headline of the cryptocurrency’s whitepaper, referred to it as “a peer-to-peer electronic cash system.” The asset’s creation took place during the early days of the decentralized network movement, which has since extended into all different types of industries that have forever changed them.
Following in the footsteps of its wildly successful predecessors, an advanced peer-to-peer copy trading platform recently launched on PrimeXBT could alter the face of the trading community forever. Here is why the Covesting copy trading module is the next significant financial evolution, driven by the rapid expansion of peer-to-peer networks.
Peer-To-Peer Systems Empower Users With Flexibility That Fits Their Lifestyle
Peer-to-peer technology is empowering to users, and any industry that gets it right is permanently transformed for the better. These networks grow right under our noses because they allow flexibility and for users to participate in the system as they see fit.
Take Uber, for example. The taxicab industry has never been the same since it first started. The flexibility of letting drivers connect to the network when they want and disconnect as they please was immediately appealing to those with spare time on their hands. It’s also ideal for those with busy schedules in today’s fast-paced world.
By letting users drive their own vehicles, the business model has very little overhead and has allowed the company to thrive into a giant. Uber has since expanded into food delivery and much more, all driven through a massive peer-to-peer network that has scaled significantly over the years.
Peer-to-peer platforms grow exponentially by network effect. Each user who sees the value in the experience goes on to tell others and onboard more users onto the service. Simultaneously, this growth leads to more awareness and visibility and more familiarity with the public.
Eventually, these platforms become everyday staples that replace the old way of doing things. Uber’s growth rate is a strong example of how consistently and quickly this type of network’s userbase grows.
Tinder Made It Click: The Peer-To-Peer Connection Takes Off
A more direct comparison with Covesting is Tinder due to the way it connects two people by choice and not just due to a random connection. With Uber, you get what you get and don’t have much choice in the matter.
With Tinder, the peer-to-peer network connects singles with one another for potential hookups. But users must swipe right if they are attracted and want to take things further. If they swipe left, the next possible match will display instead.
Like Uber, Tinder’s growth has been steadily and rapidly rising thanks to the network effect’s unstoppable power. But that is not the only reason why Covesting is set to have an enormous impact on the future of decentralized finance.
Covesting Connects Skilled Traders With Those Without The Time For TA
Like Tinder, Covesting connects traders with one another. But rather than looking for a good time, these traders are hoping for a solid ROI. Instead of searching for someone to take long walks on the beach with, they want someone who goes long and short Bitcoin, and trades CFDs on stock indices, gold, oil, and more.
And instead of swiping right, less skilled traders or those that just don’t have the time to invest in technical analysis or following finance news can let other traders make money for them. But how?
That’s the power of the Covesting module, which lets new traders and more skilled traders profit together. Inexperienced traders can “follow” successful traders turned strategy managers and profit from their years of real-world experience and natural talent. Strategy managers earn a cut of the success fees generated from follower equity for bolstered profits all around. By making trading a win-win for traders and taking the guesswork out of it for newbies, Covesting has the potential to turn the finance world upside down.
And just like Uber, Tinder, and those before it, Covesting is already seeing the early stages of that exponential growth by network effect. Users are satisfied, sharing their PnL screenshots online and bragging about their ROI on Twitter, Telegram, and finance community subreddits.
These traders have earned their bragging rights, and everyone knows it. Covesting also has a five-star rating system like Uber that ensures any strategy meets the highest win, loss, and risk criteria, updated in real-time through a public and transparent global leaderboard.
Peer-To-Peer Covesting Copy Trading Now Available On PrimeXBT
Covesting is now available on PrimeXBT, an award-winning Bitcoin margin trading platform offering CFDs on crypto, gas and oil trading, stock indices, metals, forex, and more. Already, the platform has experienced the beginning of exponential growth from network effect. The platform has seen an explosion of new user signups thanks to word of mouth and message spreading socially about the many benefits Covesting offers.
With so much buzz this early on, Covesting is poised to continue to follow down the path of success of big names like Uber, Tinder, and even Bitcoin laid before it.