Connect with us
[crypto-donation-box]

Blockchain

Covesting: A Rare DeFi Project With Real-World Utility Today

Enter the COV token, the ERC-20 token designed to power the Covesting copy trading module, now available to the public on PrimeXBT.

Republished by Plato

Published

on

Table of Contents

4 / 5 ( 4 votes )

The world of DeFi has been heating up all of 2020, recently coming to a boil and burning a number of crypto investors due to several projects not being all they were chalked up to be. Other DeFi projects have outright turned into public exit scams.

Very few DeFi projects truly offer real-world value or utility today and are instead experimental visions of what the world of decentralized finance will ultimately become. However, upon digging deeper into the DeFi space, a few gems offer holders of the token a wide range of benefits on platforms that are live and active today. One of those DeFi projects with more than just promise is Covesting.

DeFi Explosion Leads To Burned Crypto Investors, Stick With Market-Tested Tokens

The current DeFi explosion has generated substantial wealth and a plethora of new projects not seen since the ICO boom. And much like back then, in a sea of new projects and tokens offering promise after promise and with Ethereum trading at local highs, only a few ever end up providing real-world utility. However, a DeFi project from back then that has stood the test of time is now seeing a significant resurgence in interest thanks to real-world utility unfolding today.

READ  Pump And Dump: A Major Cryptocurrency Danger Scheme

Enter the COV token, the ERC-20 token designed to power the Covesting copy trading module, now available to the public on PrimeXBT.

The COV token sale ended on December 30, 2017. After more than three years of steadfast development, the DLT-licensed fintech developer by the same name, launched the Covesting copy trading module, instantly bringing unmatched value to the COV DeFi token.

While other DeFi tokens promise a future of utility, Covesting is here today. According to the firm, the COV token will unlock the copy trading module’s full potential by offering several key benefits.

First and foremost, the COV token will bolster the profit-share of success fees generated by following strategies on the platform. Certain COV token levels will enable an even larger follower count, so profit potential can grow exponentially depending on a trader’s skill level combined with how much COV they hold. And even more features are on the way.

READ  Popular bitcoin Podcasts a trader should know about

All About COV and Copy Trading: The Latest Innovations In Decentralized Finance

Most other DeFi tokens are still years away from bringing crypto investors the value matching their current hype. Meanwhile, the powerful platform the COV token powers is already amassing a vast array of skilled traders worldwide.

With COV at the center of the Covesting, the copy trading module connects experienced traders from around the globe with new traders who don’t have the time for analysis or strategies themselves or don’t have the stomach to sit in positions long enough for them to become profitable.

The platform offers anyone no restriction access to becoming a strategy manager, and anyone can follow any of the top strategies listed in the public rating system. Strategy managers earn a portion of success fees generated by followers’ equity, while followers make money by copying some of the trading community’s best trades. The COV token further bolsters the ROI on both sides of the trade.

READ  Which One Is Better Cryptocurrency Exchange: Binance Or Bitfinex

Rather than holding DeFi tokens waiting for their hype and claims to come to fruition, the COV token and the Covesting copy trading platform are available today. Full integration of the COV token in the Covesting platform is coming soon, and additional features are planned depending on which platform Covesting launches on next.

Try Covesting Today At Award-Winning Advanced Trading Platform PrimeXBT

For now, Covesting is exclusively available on the award-winning Bitcoin margin trading platform PrimeXBT. There, traders can access over 50+ markets across gold, crypto, oil, stock indices, and more.

Strategy managers can build a diverse trading portfolio on Covesting through PrimeXBT’s trading instruments and tools, and get themselves on a fast track to profitability and attracting more followers than ever before.

Followers also can earn passive income by letting successful traders do all the work. Covesting is one of the rare few examples of a DeFi project in action, and not awaiting years of development before providing utility and value.

#Covesting #DeFi projects

Source: https://www.cryptoknowmics.com/news/covesting-a-rare-defi-project-with-real-world-utility-today

Blockchain

Paraguayan Official Confirms: In July We Legislate Bitcoin

Republished by Plato

Published

on

Paraguay’s Deputy of the Nation, Carlos Antonio Rejala Helman, has confirmed that new legislation in regards to Bitcoin will arrive in July. This comes amid growing adoption in Latin America led by El Salvador, which could be followed by Panama as well.

  • CryptoPotato reported last week when Rejala Helman said his country planned to start working on an “important project” that included Bitcoin and PayPal
  • Although he provided little-to-no information at the time about the precise nature of the project, the official confirmed it’s coming in a more recent tweet.
  • Commenting on news indicating that one of Paraguay’s largest entertainment organizations has started to accept various digital assets, Rejala Helman emphatically asserted, “This is Paraguay. July we legislate! #Bitcoin.”
  • This comes shortly after Gabriel Silva, a Panamanian congressman, laid out plans to present a bill on cryptocurrency adoption as a legal tender as well.
  • He believes Panama should not trail other nations from the region that have already taken steps to legalize Bitcoin.
  • Naturally, he meant El Salvador. The small country located in Central America has been the leader in terms of BTC adoption.
  • As reported recently, the nation officially voted in favor of a new rule making Bitcoin a legal tender within its borders. El Salvador’s President, Nayib Bukele, further outlined his support for the asset and even urged miners to mine BTC with the thermal energy of the country’s volcanoes.
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/paraguayan-official-confirms-in-july-we-legislate-bitcoin/

Continue Reading

Blockchain

U.K’s crypto-users are growing in number, but do they even understand the asset class?

Republished by Plato

Published

on

The United Kingdom’s approach to cryptocurrency regulations has been measured, but it has matured in the post-Brexit financial landscape. Even though the U.K didn’t ban the whole crypto-sector, there were still some hiccups on the way, however. Looking at how things currently stand, did the crypto-community in the U.K evolve?  Here’s a recent study to highlight the same.

The country’s main regulatory body, the FCA, recently published an in-depth report to provide an overview of cryptocurrencies and their use in the U.K. The research note titled “Crypto asset consumer research 2021” incorporated various factors to account for the current market frenzy. As per this report, various attributes recorded an uptick whereas there were a few concerns as well.

Crypto-holdings  

Talking about the former first, around 2.3 million adults in the U.K currently hold crypto-tokens in their portfolios, a significant hike from 1.9 million in 2020. The number of current owners too surged from about 3.9% to 4.4% of adults.

Source: FCA

What’s more, the ownership volume findings too painted a similar picture. As per the study, the average median holdings rose to 300 British pounds ($420) from 260 pounds ($370) in 2020. Out of these holdings, Bitcoin had a majority share, with 82% of the respondents recognizing BTC, compared to 78% last year.

Public awareness

With respect to the latest boom in crypto-developments in the U.K, it’s natural to witness the roaring demand in the crypto-space. This parameter, likewise, noted a surge as 78% of adults were up to date, a significant incline from 2019 and 2020.

Source: FCA

Quite the contrary now.

However, roaring awareness doesn’t always equate to understanding the underlying asset. Such is the case here.

“Only 71% of those who had heard of crypto correctly identified its definition from a list of statements. This was a statistically significant decline of 4% from 2020.”

According to the FCA,

“This suggests there may be a risk of consumers engaging with cryptocurrency without a clear understanding of it.”

Can this be one of the reasons?

Looking further, traditional media (TV, newspapers, radio, etc) are still the most common source (27%) for the U.K residents to take the first step in this domain. Does this imply that many still rely on the different broadcasts to directly jump onto the crypto-frenzy bandwagon instead of understanding its core? Well, certainly the data points in the said direction.

Here’s what Sheldon Mills, the FCA’s Executive Director of Consumers and Competition, said in a recent discussion regarding the same.

“It is important for customers to understand that, because these products are largely unregulated, if something goes wrong they are unlikely to have access to the FSCS (Financial Services Compensation Scheme) or the Financial Ombudsman Service.”


Subscribe to our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/u-ks-crypto-users-are-growing-in-number-but-do-they-even-understand-the-asset-class

Continue Reading

Blockchain

NASCAR Driver Landon Cassil to be Paid in Bitcoin and Litecoin

Republished by Plato

Published

on

Popular NASCAR driver Landon Cassill will soon become the first auto racing driver to receive his salary in cryptocurrency via a new partnership with crypto brokerage firm Voyager Digital Ltd.

First Auto Racer To Receive Crypto Salary

In an official announcement today, the National Association for Stock Car Auto Racing, LLC (NASCAR), an American auto racing sanctioning and operating company best known for stock car racing, revealed that Cassill will be paid fully in cryptocurrencies, especially Litecoin (LTC) and the Voyager Token (VGX).

The partnership deal will see Cassil drive a purple No. 4 Chevrolet Camaro customized with a full Voyager-branded car wrap in 19 NASCAR Xfinity Series races this season across 16 states. The first race is due to start this Saturday at the Tennessee Lottery 250 at Nashville Superspeedway. 

A Crypto Proponent

Cassil admitted, via a telephone interview, that he had been a long-term crypto user and had only been searching for the right agency to partner with. He noted that many of his fans of late are crypto users, and the crypto industry has been seeing a lot of mainstream attention from retail investors. 

“I’m a crypto user, and I’ve been involved for several years. This is something I’ve wanted to do for a while, but it was about finding the right partner to do it. A lot of my fans are crypto users, and as of late, there’s been a lot of mainstream, retail attention on it. So from a community perspective and an athlete speaking for a space, timing was perfect this summer,” Cassil  said. 


ADVERTISEMENT

The NASCAR driver had allegedly met Steve Ehrlich, Voyager’s CEO, at a Litecoin summit two years ago, and they instantly hit it off due to a shared interest in cryptocurrency. 

Speaking on the partnership, Ehrlich said:

“Landon Cassill’s focus and determination on the race track translates across everything he does, which is why we’re honored to partner with him in this season’s Xfinity Series. Landon also shares our vision of widespread crypto adoption, and we’re proud to be the first company to secure a primary NASCAR sponsorship completely with crypto…I think it’s really important that the people you do business with have a crypto understanding.”

Crypto Salaries

Litecoin founder Charlie Lee, who also admitted that Cassil has been a strong supporter of Litecoin and the crypto industry for several years, believes that the “landmark deal shows the growing reach of the Litecoin community into the professional sports world and eventually beyond.”

While Cassil will be the first auto racing driver to receive crypto payments, cryptocurrencies for salaries in the sports industry are not entirely new. In April, CryptoPotato reported that employees and players of the NBA giant, the Sacramento Kings, would be able to receive a significant part of their salary in Bitcoin. 

Featured image courtesy of The Podium FInisi

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/nascar-driver-landon-cassil-to-be-paid-in-bitcoin-and-litecoin/

Continue Reading
4 days ago

Valorant Ep. 2 FORMATION Player Card: How to Claim

News3 days ago

The World Economic Forum’s Cryptocurrency Guide Lists Its Choice Of “Winning” Projects

Uncategorized4 days ago

Mark Cuban: DeFi could be the ‘next great growth engine’ for the US

Uncategorized1 day ago

The World Bank wants no part in El Salvador’s Bitcoin revolution

News5 days ago

Shiba Inu Drops Hard Below Critical Support Level

Uncategorized3 days ago

Banks Should be Scared of DeFi Warns Mark Cuban

Blockchain3 days ago

Grayscale to Unlock 16,000 Bitcoin Shares on July 19

Blockchain5 days ago

Will Ripple’s new ODL corridors impact XRP’s price?

Blockchain4 days ago

Mark Cuban Demystifies DeFi and Yield Farming for Beginners

Blockchain5 days ago

Elon Musk: Tesla Will Resume Allowing Bitcoin Transactions With One Condition

Blockchain2 days ago

Coinbase Pro to List Dogecoin Rival Shiba Inu, Token Gains 33% in Price

Blockchain4 days ago

Edgewater Markets Taps Michael Cleary as Its New Director of Sales

Uncategorized5 days ago

PSG.LGD sweep Evil Geniuses, win WePlay Esports AniMajor

Blockchain4 days ago

Deadpool Soundtrack Composer Tom Holkenborg To Auction ‘Soundtrack Of Your Life’ NFT

Uncategorized1 day ago

Healthcare: A trillion dollar opportunity for blockchain?

5 days ago

PSG.LGD triumph at WePlay AniMajor

Blockchain3 days ago

Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Blockchain4 days ago

Wall Street Wonders if Bitcoin Could Replace Fiat Currencies

Uncategorized5 days ago

Why NFL’s Russell Okung Asked Nigeria To Adopt The Bitcoin Standard

Blockchain4 days ago

All About Solana And Why It’s The Game-Changer Crypto Of The Year

Trending