COSS Review – Cryptocurrency Guide
COSS, discovered online at COSS.io, is composed as a one-stop look for all your cryptocurrency needs. Find out what that implies today in our COSS review.
What Is COSS?
COSS, which remains for Crypto One Stop Solution, is a platform that “means to include all features of a computerized temperate framework in light of cryptocurrency”, explains the official site. The beta version of COSS propelled on April 1, 2017.
COSS’s first item is a payment passage/POS for online and offline vendors. It allows stores to acknowledge payments for their services in different cryptocurrencies.
COSS has additionally propelled a completely operational cryptocurrency exchange. Both of these, up until this point, are the two most critical features of COSS (and the main existing COSS items). In the course of recent months, the company hosts continued to integrate numerous third get-together suppliers with the goal of allowing them to offer services through COSS.
Later on, COSS sees itself becoming a total solution for the cryptocurrency ecosystem. The company portrays its platform as “a living project with infinite conceivable outcomes for augmentation, meant to bring cryptocurrencies to the majority.”
Today, COSS’s marketplace consists of 150 traders and more than 1000 users. The platform is overseen by an international team situated in Singapore (headquarters), New York (branch office), and Bucharest (development office).
COSS Products And Services
COSS offers three center items right now, including:
COSS’s wallet gives you a chance to store all your cryptocurrency funds in a single area securely.
COSS offers quick, secure, straightforward, and shoddy exchanges of different cryptocurrencies and fiat monetary standards, including BTC/ETH/VRS and USD/EUR/SGD monetary forms.
Manage every one of your finances from one place. Accepting payments with COSS can increase your business by giving you the capacity to acknowledge a differing scope of payments.
About The COSS ICO
The COSS ICO propelled on August 8. During the ICO, investors can buy the COSS token, an income generating cryptocurrency in view of the Ethereum open blockchain as an ERC20 token. The token empowers its holders to get incomes in the type of transaction fees charged by the COSS framework for cryptocurrency transactions.
The token can be put away and exchanged using most ERC20-perfect wallets.
You can likewise use the COSS token to construct your portfolio, much the same as any cryptocurrency. When you hold the token, you’ll get COSS incomes on a week after week premise. half of transaction fees gathered by the platform will be distributed to COSS token holders.
There’s an aggregate supply of 200,000,000 COSS tokens. 130 million tokens are being issued through the ICO, with a further 25 million available during a pre-ICO.
COSS’s platform underscores the greater part of the following features:
There’s no compelling reason to sit tight unlimited hours for stores, trades, and withdrawals. COSS will show your stores in real-time and they’ll appear on your adjust “instantly once we have gotten the vital affirmations”. COSS doesn’t really list the normal transaction time, but guarantees it’s under 10 minutes.
Numerous Crypto And Fiat Currency Markets:
Trading and exchange between BTC, VS, ETH, USD, EUR, and SGD are for the most part available.
Confirmations, hot/cool storage, advanced 2FA security, and different options are for the most part available to anchor your funds. Users can tweak security options in their account settings.
The COSS platform gives you a chance to get bolster at consistently. You can contact the company’s client service team with any worries.
All transactions performed over COSS are spared and verifiable on the Ethereum blockchain.
Traders – both online and offline – can acknowledge cryptocurrencies at their store.
Exchange between monetary forms instantly, choosing to exchange instantly into fiat monetary forms for added steadiness, or riding the floods of the cryptocurrency markets.
COSS offers consistent exchanges of funds from the trader platform to the wallets and the exchange. It’s all the same back-end, so you can play out all trades in one place.
Later on, COSS plans to integrate features like a COSS token swap, P2P settlement, and AML/KYC screening.
Who’s Behind COSS?
COSS is driven by Team Leader and Co-Founder Dan Cearnau, Team Coordinator Ioana Frincu, and Technology Officer Iulian Oprea. They’re upheld by a team of blockchain experts, investigators, and designers.
As mentioned above, COSS has workplaces in Singapore, New York, and Bucharest.
About The Company
Concerning the company itself, the headquarters of COSS is situated in Singapore, however the exchange has such a large number of connections to Romania that it is practically 50/50 Singaporean and Romanian. Huge numbers of the representatives of the project are Romanian, for instance, while COSS is recorded in Romania’s Chamber of Commerce and Industry. Over that, COSS is an individual from Singapore’s most well known blockchain affiliation, ACCESS, and the exchange likewise has a branch in New York.
Outstanding team individuals include:
Prime supporter Dan Cearnau
Team coordinator Ioana Frincu
Tech officer Iulian Oprea
Accordingly, the COSS exchange has a legitimate paper trail that points toward its legitimacy, but it is additionally imperative to remember that COSS isn’t overseen by any kind of oversight body as of right now. It’s something you need to consider going forward, but on the other hand it’s a dynamic that is thoroughly not all that bad the cryptoverse.
The exchange being referred to was propelled in the Spring of 2017 after the project’s team ran an effective ICO. The COSS exchange itself is in its beta, not alpha, stage, so there’s still heaps of development ahead and kinks to smooth out.
The advantage of being new, however? COSS presently can’t seem to have been effectively hacked, which isn’t surprising since its new. Notwithstanding, COSS doesn’t have the stuff that bigger involved exchanges have gathered.
With these preliminary points off the beaten path, we should jump somewhat more profound.
Trading on the COSS Exchange
The exchange interface itself is smooth and pleasant on the eyes. COSS presently offers bitcoin (BTC) and ether (ETH) trading sets with more than 30 mainstream cryptocurrencies, with more cryptos being added at the same time. It has every one of the heavyweights certainly, from protection coins like (DASH) to hot ERC20 tokens like OmiseGo (OMG).
For those looking for margin trading, you’ll need to look somewhere else, as COSS doesn’t offer margin trading functionalities. Besides, there’s nothing in the exchange’s roadmap that recommends such functionalities are coming at any point in the near future, if ever.
To begin trading on COSS you should make a store of a cryptocurrency as it doesn’t as of now offer Fiat payment options yet.
You can get to the COSS trading interface through any internet browser or through the COSS GO app. And keeping in mind that COSS certainly has its own stylish style, its trading programming is additionally not bad, but at the same time not enough to blow anyone’s mind the extent that the cryptocurrency space goes: it’s nothing unique, but it’s not vanilla either.
One thing that leaves a little to be wanted on COSS is its trading graphs. They simply feel fundamental contrasted with other exchange’s outline capacities, as Bittrex. Fundamental is fine, but there will be further developed traders that will be killed until the point that COSS offers better charting apparatuses (e.g. better specialized indicators, zooming).
Another point to consider is that, while COSS is as yet youthful and in its beta frame, liquidity is low, contrasted with other prevalent exchanges. There’s no motivation to think this dynamic will dependably remain, but it is something you’ll need to battle with for the time being while the exchange develops.
What’s more, later on, COSS would like to execute fiat-to-crypto trading conceivable outcomes, but until further notice there’s no indication that usage will be here at any point in the near future. For the present, all you’ll have the capacity to do is store and pull back cryptocurrencies from the exchange.
COSS’s cryptocurrency wallets accompany the main security benefits that all traditional cryptocurrency exchanges offer. These advantages include two-factor verification, back-end chilly storage, and email confirmations.
Additionally, the COSS wallets allow you to trade between monetary standards without the waiting circumstances users persevere on decentralized exchanges like Changelly and Shapeshift. Later on, the exchange would like to add fiat functionalities so you can pull back to fiat instantly as well, much like Coinbase allows now.
Concerning withdrawals, the procedure is direct. When you initiate a withdrawal, you’ll be sent two verification messages. The first of these messages is a straightforward message explaining that a transaction has been asked. The second email is the affirmation email that you should open keeping in mind the end goal to approve the transaction.
Now, your withdrawal will be handled and started. Without clicking the link in the affirmation email, you’ll have the capacity to drop your transaction whenever.
If you’d get a kick out of the chance to register with perceive how far along your withdrawal is, go to the “Account” tab. Find the “History” button, tap on it, and after that tap on “Stores and Withdrawals.”
Not verified the transaction yet? At that point you’ll see the “Withdrawal (pending user affirmation” message. Else, you should see “Withdrawal (prepared)” and your funds ought to be over in a matter of seconds.
One last point that is critical to consider in judging COSS is that withdrawal times can be very slow contrasted with different suppliers. As the exchange explains in their FAQ:
“On this theme COSS puts security above comfort and we trust our users appreciate that. There are different transactions in play that a user doesn’t see while depositing and withdrawing as we store all cryptocurrencies offline. So please allow some time for transactions to clear. This isn’t ideal for instant traders looking for an arbitrage, but we won’t bargain security over accommodation in this issue. 10-30 minutes on most ERC20 tokens and 1-3 hours for BTC when in doubt (but with special cases both ways).”
In a fairly troubling development, a fast review of the exchange’s site did not give any readily discoverable subtle elements on transaction fees. Different users have detailed fees on COSS being in the ballpark of 0.20 percent for each trade, however this has not been independently verified at squeeze time.
But trades aren’t the main source of fees on COSS: so too are withdrawals. Withdrawal fees are different from coin to coin, so the amount you’ll need to pay will vary.
What’s To Come For COSS
The exchange has its roadmap for the future rattled off unmistakably. First will come the “Crowdfunding Phase.” This will be a platform within COSS that will allow users to finance their own projects.
Next, will come the “Prepaid Cards Phase .” Once finished, COSS needs you to have a MasterCard-supported card that you can store your cryptocurrency funds onto specifically from the exchange.
Thirdly will be the “Smart Contracts” stage. This will be a usefulness on the exchange that will allow you to set up smart contracts for legitimate or business purposes.
At that point comes the “Settlement Phase,” wherein COSS will endeavor to be give one-stop solutions to international money exchanges.
In conclusion, the final eliminate mapped as of now is the “Outsider Plugins Phase.” As its name recommends, this stage will center around providing innovative plugin functionalities to COSS’s users.
How To Buy COSS?
While reading this review, you must be wondering about how to buy COSS. This section will help you to know how to buy COSS. However, you will need to find the best exchanges where you will be able to buy it. At the moment, you can make use of HitBTC to buy it.
First off, we need to recollect that COSS.io is still in a beta state, so we totally can’t render a final judgment on it until further notice. You can simply fly into COSS’s Telegram or Slack to give input on any hiccups you experience; the team will certainly appreciate it as they work to smooth out every one of the edges.
All things considered, COSS is certainly an interesting exchange that will probably observe assist adoption in the months ahead. With there being such a significant number of competitors, it’s difficult to state where COSS will in the end settle but it looks promising and it takes off like different exchanges, for example, Binance and Kucoin did, it could be exceptionally fruitful indeed.