Covesting strategy managers always face a bit of a challenge to first start getting noticed and build their following. Not every strategy manager is lucky or skilled enough to go on a 30,000% total profit win streak like the currently number one ranked trader has, and it takes time, thought, and strategy to build a follower base.
But with the larger the following, the more money a strategy manager can make through the profit share system, so there is huge incentive to grow one’s follower count. As the follower base grows, so does the potential for earnings.
Outside of simply – or not so simply – making it to the top of the ranks of the Covesting leaderboards, here are some unique ways that strategy managers can attract new followers and grow their capital faster.
What Is Covesting And What Is A Strategy Manager?
Covesting is a name representing three closely connected things: a Europe-based DLT software developer, a copy trading module, and the COV utility token. The COV token is the native utility token to the Covesting copy trading module, and both were created by the fintech developer of the same name.
The Covesting copy trading module lets anyone become a strategy manager with only a 0.01 BTC minimum. The larger the deposit, the higher the rate of the profit distribution back to followers, but strategy managers earn a 20% cut regardless of the initial funding amount.
Potential strategy managers must also name their strategy, choose a currency, and describe the strategy. Some strategy managers chose to take a minimal approach, but the more information provided to potential followers, the higher the chance they will follow you.
The moment you create a strategy is the first possible opportunity to spend some time and effort that could earn you more followers. For example, an eye-catching name based on something trendy could be more enticing than a boring name or a series of numbers.
The description is even more important, as this is the chance to win over any followers that might potentially be otherwise on the fence, and unsure if you are worth the follow. By explaining to potential followers what your strategy is and why they should follow you, they just might listen.
Growing Followers Naturally And Strategies To Boost Follower Count
After clicking the create strategy button, the rest is now up to you to grow your following. The most natural way is to simply grow profits, and if you build profits, followers will come. Total profits are what causes a trader’s rank to change on the Covesting leaderboards, so focusing on that first and foremost is critical. However, paying attention to things like margin allocation or win to loss ratio could be a lesser looked at metric that causes a follower to put their capital behind you instead of others.
Building one’s following goes beyond the Covesting platform itself and into social media. Users can join the official Covesting Telegram group to discuss tips and strategies with followers and strategy managers alike. Strategy managers can also plug their Covesting accounts online, by sharing screenshots of their total profits on Twitter with a referral link to get registered and follow.
Strategy managers can also launch a YouTube channel. For example, they can create instructional videos that explain how to short Bitcoin using technical indicators such as the Relative Strength Index or the Ichimoku indicator. In each video, they can promote their following and in the video description include a referral link.
Not only will the strategy manager in this case potentially monetize their audience by getting them to follow as followers on Covesting, but each referred user will aslo drive referral program revenue and income for the strategy manager if the referral link was used.
Finding Following Success Through The Five Star System
Fortunately for traders that aren’t willing to risk it all with one winning trade and prefer the calculated and steady way to grow capital, there is also a five star rating system that highlights traders that focus on safety over risk. The Covesting module calls attention to these safer traders by allowing them to earn up to five unique stars.
A star says the trader never goes above a certain margin allocation, while others focus on how much capital the trader has and how active they are with it. For example, certain turnover thresholds must be met, and a high win to loss ratio maintained. All of this information is available via the Covesting leaderboards and individual strategy manager profiles.
Finding a high ranked trader with significant total profits and all five stars is rare, but when it happens, the strategy manager is likely a must follow.
How Strategy Managers Can Make The Most Money Possible
Once strategy managers have begun to grow their followers, growth can happen virally through network effect. Essentially, so long as the strategy manager remains generally profitable, one follower will tell another, and so on and so forth. In time, through word of mouth and network effect followings can grow massively. At this point, maximizing one’s potential revenue should become the next challenge to overcome. In this case, strategy managers can rely on COV token staking to increase the trading fee discount they receive while using the Covesting copy trading module.
Trading fee discounts range from 10% at the Advanced level, to 20% at Premium, and 30% at Elite membership levels. The more COV tokens staked, the better the trading fee discount. With more money going back to the strategy manager’s pocket, and more money made overall due to both a larger following and a potential referral program revenue stream, Covesting and the award-winning PrimeXBT is the ultimate solution to unrivaled profitability.
Becoming a strategy manager is simple and takes a low minimum deposit. With the strategies listed within this detailed guide, anyone can build their following to a respectable amount with very little time and effort. Combined with COV token staking, this increase in follower count can take income and earnings to an entirely new level.
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