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I see that Niklas answered this question a little while back. Here is a link to help!
If you want to cover a song and distribute it on SoundCloud, you have to ensure you've obtained the proper rights to do so. A recommendation would be to go to check out songclearance.com.
(Disclaimer: SoundCloud do not provide legal advice. In addition, that site is not affiliated in any way with SoundCloud. Only providing the link for informational purposes.)
Does that include cover songs that I have no intention of distributing? I'm a musician for hire and was looking for a place to showcase my talents with a mix of covers and originals, but I wasn't going to distribute any work. is there a way to upload cover songs legally on soundcloud if my intent is for others to look at my sets and just listen?