Cryptocurrency enthusiasts have hundreds of trading platforms to choose from. Some companies offer cheaper fees or special services that can’t be found elsewhere. Over the past year or so, COSS has become a force to be reckoned with in this industry.
The COSS Exchange in a Nutshell
Standing out among the growing list of cryptocurrency exchanges is anything but straightforward in this industry. A lot of business models have been tried and tested over the years, to varying degrees of success. In the end, it is often best to go back to the formulas and business models that will appeal the most users. Cheap fees, plenty of trading markets, and top-notch security are all crucial aspects in this regard.
COSS Seems to check a lot of the right boxes. It is one of the only exchanges in the cryptocurrency industry to provide a one-stop solution for all things crypto. The company goes well beyond offering just an exchange. The ecosystem also spans an e-wallet, a platform for token sales, a fiat currency gateway, and various tools and widgets.
Noteworthy Supported Markets
Running a cryptocurrency exchange requires giving users access to as many top trading pairs as possible. For COSS, the list of trading pairs is more than acceptable compared to most of its competitors. Base cryptocurrency trading pairs include Bitcoin, USDT, COS, and Ethereum. In terms of fiat currencies, users can trade Bitcoin, COS, and Ether against the US Dollar or the Euro. It also appears there may be additional support for Pound Sterling support in the future.
The Native COS Token
Most of the top cryptocurrency exchange son the market today have their own native token. These tokens often provide users with trading discounts. In the case of COS token, users will receive a 25% discount on trading fees. They will also be given access to FSA, a program under which the COSS team returns 50% of all trading fees generated by the platform to holders of COS.
A Unique Fee Structure
Trading enthusiasts are often concerned or even dismayed about a platform’s trading fee structure. No one likes to pay for selling or buying cryptocurrencies, after all. COSS solves part of this problem in a rather creative manner. They offer 0% and negative maker fees for all trading pairs on the platform today and in the future. This approach is taken to incentivize traders so they bring more liquidity to this exchange.
Whereas 0% maker fees are nothing new in the industry, the negative maker fees are not all that common. Traders will become eligible for this negative rate once they trade over $5,001 in monthly rolling volume. When combined with COS to reduce taker fees, this platform becomes the cheapest exchange on the market to use globally. High-roller traders can earn negative maker fees of up to 0.065%.
As far as deposits and withdrawals are concerned, the fee structure is in line with what one would expect from most exchanges. In virtually all cases, COSS does not charge an extra withdrawal fee on top of the miner fee for processing network transactions.
Fiat currencies are a bit different in this regard, but that is to be expected. The entire fee structure can be found on this page.
The Multi-currency Wallet
When looking beyond the trading platform, it is crucial to look at COSS’s multi-asset cryptocurrency wallet. Users can securely store, send, and receive cryptocurrencies of their choice. However, the real draw of this particular wallet is how it incorporates a lot of extra functionality that deserves to be highlighted.
First of all, users can pay their utility bills with the supported cryptocurrencies. It is one of the areas worth exploring for cryptocurrency service providers. Making Bitcoin and select other assets more useful in the real world has been an ongoing challenge.
Solutions like COSS Wallet pave the way for broader adoption of crypto assets in the future, even though this functionality may not be available in all countries at this time.
Another intriguing use case is how users can top up their mobile credits through the COSS Wallet. Combined with support for international money transfers and exchanging between different currencies, there is a lot of functionality for users to explore.
Last but not least, COSS Wallet supports sending and receiving funds through GPS technology. In terms of revolutionizing peer-to-peer transfers, that functionality may become incredibly powerful in the years to come.