The Covesting trading platform has been released as a public beta for stage two of its beta testing process. The platform, set to launch in Q3 2018, uses the COV token and will serve as a fiat gateway.
Covesting Working With Regulators
Covesting is in the process of obtaining a DLT license from GFSC of Gibraltar, where they are based. The license is provided only to companies that fully comply with risk management, IT, and other security standards. Alongside independent security audits, this will reassure investors that their money is safe in the wake of recent hacks to exchanges.
Dmitrij Pruglo, CEO of Covesting, said: "We are adding new platform features almost every week, thus turning the Covesting platform into a truly unique one-stop solution to purchase, exchange, and trade cryptocurrencies."
"We are developing a solid and legally compliant infrastructure for both beginners and professional traders, and it has already been recognized by regulators, banks, and service providers."
The platform utilizes the COV token, which is already available for purchase on exchanges. It will be used for certain features of the platform, including copy-trading, algorithmic trading and derivatives. The exchange will serve as a fiat gateway, making it easier for users to put funds on the site.
The team has recently completed phase one of beta testing which involved 200 beta testers trading on the platform for a month. The testers also made suggestions to improve the user experience. As a bonus, the first 25,000 registered users for the public beta will get $300 on their account to pay their trading fees.
Head of Business Development, Paul Hinrichsen, said: “We’ve beta tested for over a month, and while we had hundreds of bug reports and tickets submitted, many were focused on improvements and aesthetic tweaks, the platform and backend itself works incredibly smoothly, so we’re pleased to move on to improve the UI experience. A huge thanks must go out to all of those who helped us beta test.”
Covesting has also focused on good customer relations as they launched 24/7 multilingual support since the beta testing stage. This allowed for more efficient testing of the platform and furthered its development.
The trading platform already features a fully-functional digital asset exchange, a ranking of traders according to their performance, advanced trading tools and a possibility to exchange messages with other traders.