The COSS.io TeamAs mentioned above, COSS has offices in Bucharest, Singapore, and New York and is led by Co-founder Dan Cearnau, Visionary and Co-founder Rune Evensen, Team Coordinator Ioana Frincu, and Tech Officer Iulian Oprea. These people are professionals in their field who have been doing this for years and they are focused on platform security, which, along with plans and platform’s technical specifications, is outlined in the company’s 2017 whitepaper. As you can see, the COSS team is scattered all over the world. However, this does not prevent it from being a real, cohesive and productive team. The COSS team is rather large and is backed by a team of blockchain specialists, analysts, and developers. The COSS advisors are John Bailon – Crypto Adoption Ecosystem Advisor, Anson Zeall – Blockchain Industry & Community, and Mike Costache – Strategy / Investments. COSS has also formed partnerships with SingaporeFintech.org, ARK, CardBlue, Civic, and Access. back to menu ↑
COSS.io Signup and LoginSigning up for the COSS.io exchange is straightforward and all you need to do is to enter your email, password, and verify the email to gain access to the trading site. There is no lengthy verification process to get your basic account up and running, no wait time for documents to be processed. All you need to do is to notch the terms and conditions checkbox and complete the captcha and you’re ready to proceed. Once you submit your details, you’ll be sent a verification email, which contains the link that you need to click. Once you do that, you’ll be verified. Once you’re back on the exchange, you’ll need to login for the first time, and you’ll receive a timely reminder to set up 2FA on your account immediately. back to menu ↑
Trading on the COSS.ioThe trading platform at COSS is web-based, sleek and nice on the eyes. The exchange itself is pretty straight forward, and keeps your account balance, the chart, and the trading pair’s order books all neatly packed into one place. Also, its trading charts are fine but it is definitely geared towards your average user. There will definitely be more advanced traders that will be turned off until COSS offers better charting tools (e.g. Zooming, better technical indicators).
COSS.io Customer SupportCustomer support on COSS is pretty scarce for now and they will need to drastically improve it in the months ahead. The only semblance of customer support on the exchange itself was a message to “Report an issue” to email@example.com, where you can contact the company’s customer service team with any concerns. To the project’s credit, though, the COSS team appears to be most active on social media sites such as Twitter, Reddit and the Bitcointalk forum where they have a massive thread. back to menu ↑
COSS WalletObviously, COSS’s wallet integrates with its exchange, and comes with the main security benefits that all traditional crypto exchanges offer, including confirmations, hot/cold storage, and advanced 2FA security. COSS’s wallet supports a number of popular cryptos, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, OMG, VeChain, Waves, DASH, Lisk, ICS, NEM, EOS, and ARK, as well as a number of lesser known altcoins, including Substratum, Po.et, ChainLink, Enjin Coin, Lampix, and many others. Also, the COSS wallets allow you to trade between currencies without the waiting times users endure on decentralized exchanges, and in the future, the platform hopes to add fiat functionalities so that you can withdraw to fiat instantly too. COSS’s wallet also syncs up with the platform’s payment gateway for merchants and consumers, allowing businesses to accept cryptos in an easy, transparent, and accountable way. The entire project is still in “beta”, so more wallet perks are still to come. Going forward, the team hopes to implement different features, including streamlined KYC applications, a remittances portal, and token swap capabilities. back to menu ↑
COSS.io FeesCOSS’ exchange charges a base fee of 0.2% for all trades, which is competitive with the current state of the industry, as the average fees go as high as 0.25%. However, this fee has not been independently verified at press time because we couldn’t find any mention of the trading fees on the COSS website. Withdrawal fees, like most crypto exchanges, vary based on the currency in question, so the amount you’ll have to pay will vary. It’s important to note that there is a popup in your profile section that details the fees for each currency. back to menu ↑
COSS.io Withdrawal TimesWithdrawals are quite simple and straightforward. A withdrawal request is followed by a verification mail to ensure greater security. Actually, you you’ll be sent two verification emails. The first email is a simple message explaining that a transaction has been requested and the second email is the confirmation email that you will need to open in order to okay the transaction. Note that you’ll be able to cancel your transaction at any time in the absence of clicking the link in the confirmation email. Follow these steps if you want to check in to see how far along your withdrawal is:
- Go to the “Account” tab
- Click the “History” button
- Click on “Deposits & Withdrawals”
About The COSS ICOCOSS allows Initial Coin Offerings (ICOs) on its platforms, and this model can be a gamechanger as far as making ICOs accessible to everyday investors. If approved, projects can have their ICOs facilitated on COSS. After that, they can also have their newly released crypto then listed on the actual COSS exchange, which can help projects quickly legitimize themselves and gain liquidity. According to the COSS.io website, the listing process is straightforward and you are now required to do the following:
- Fill in and submit a listing request on https://coss.io/cryptocurrency-listing
- Send a clear legal opinion to firstname.lastname@example.org
- Pay a listing fee of 200,000 COSS tokens (adjusted to your token price accordingly) in case your request has been approved.
- Top 10 traders split 30% of the pool
- Next 10 split 25%
- Next 10 split 20%
- Next 10 split 15%
- Next 10 split 10%
COSS.io SecuritySpeaking of security, its website claims that COSS “is designed as a state-of-the-art application with advanced security features”. COSS sports the usual industry-standards, including email confirmations, hot/cold storage, advanced two factor authentication security, and other options are all available to secure your funds. Besides that, you can also customize security options in their account settings. back to menu ↑
COSS CoinThe exchange ran its ICO in early August 2017 and during the ICO, investors can buy the COSS token. The COSS token itself is an Ethereum-based ERC20 token that enables its holders to receive revenues in the form of transaction fees charged by the COSS system for cryptocurrency transactions. The token can be stored and transferred using most ERC20-compatible wallets like MyEtherWallet, for example. Here is a full review of COSS coin. Funds Distribution Plan:
- 50% – IT Development, Roadmap Completion, User Experience
- 25% – Mergers and Acquisitions
- 10% – Operations
- 10% – Marketing Plan
- 5% – Shareholders, Advisory Board, Board of Directors
COSS.io RoadmapCOSS.io has its roadmap for the future listed out clearly. These features include:
- Crowdfunding Phase – This will be a platform within COSS that will allow users to finance their own projects, and COSS will provide the means for fundraising across industries outside of the crypto sphere.
- Pre-Paid Cards Phase – COSS will allow users to have a MasterCard-backed card that you can deposit your crypto funds onto directly from the exchange.
- Smart Contracts Phase – This will be a functionality on the exchange that will allow businesses and associates to sign legal contracts and other terms of agreement on COSS, securing legal proceedings using the blockchain’s public ledger.
- Remittance Phase – Using COSS, individuals will be able to process international money transfers with ease.
- Third-Party Plugins Phase – This phase will focus on providing innovative plugin functionalities to COSS’s users.
ConclusionFirst off, we have to remember that COSS.io is still in a beta state, which means that it is open to suggestion and changes. However, the team has a clear vision ahead, which means that we might see it as a sustainable and successful crypto exchange like few of its competitors. COSS.io brings up an interesting concept of making cryptocurrency an easy and widely accepted currency and payment denomination. At time of writing, it’s ranked a humble 107th on Coin Market Cap for exchanges by 24/hr volume, but if it can deliver on all of the features it’s looking to implement, then COSS.io could be a big player moving forward. With that said, COSS.io is definitely an interesting exchange and is another breath of fresh air for users looking for a more accessible trading experience. Though we can still not comment about where it would eventually reach, COSS.io does look promising and it takes off like other crypto exchanges such as Kucoin and Binance did, it could be very successful indeed.
Read more about other exchanges
COSS.io Pros and ConsPros
- Nice and Straightforward User Interface
- Multiple Altcoins Available
- COSS Coin Dividends
- No Hacks Reported
- COSS Wallet
- Competitive Commissions
- ICO Platform
- No Fiat Currency Deposits Accepted Yet
- Low Liquidity on Most Pairs
- Relatively New Platform
- Customer Support Needs Improvement
- Fees on Blockchain Withdrawals
- Fees Are Not Displayed
Join Our Telegram Channel or Follow @CaptainAltcoin