To change your Cover Image, click into a Gallery and hover over the Project whose cover you'd like to change. While you hover, click (Edit) in the top left corner of the Project Cover. In the menu that appears, click "Edit Cover Image."
After clicking Edit Cover Image, the Cover Image Cropper will appear in a dialogue box. If you already have a Cover Image, you'll need to click "Upload New Image" on the top right and then drag in a new image that you want to use. When you're all done, click Done or click Cancel to undo the changes you've made.
After you've selected the Cover Image you'd like to use, you can further customize how it appears on your Portfolio by clicking (Edit Button) and then selecting customize. Alternatively, you can select Project Covers option in the Remote.
The dialogue that appears allows you to make a number of customizations including rounded edges, colored overlays, and rollover effects.