Category

COSS Wallet

IT’S TIME TO EARN SOME REWARDS! WITH THE ALL-NEW COSS (Previously Arax) WALLET

COSS WALLET star rating

Several nights of surviving on caffeine, multiple canceled vacation plans, having small treats of meeting tight deadlines, a few grumpy family members and a happy boss. The development team of Arax Crypto Wallet has finally taken a breath of relief after having gone through it all, with the rebranded and updated COSS Wallet finally making its way to the app stores.

All of us remember the big merger of LALA World and COSS.io that created the COSS Group — a larger Crypto One Stop Solution ecosystem. With a new name of the parent company, we decided to rename our beloved crypto wallet to make everything unanimous.

Our developments are not just limited to giving the Arax Wallet a new name but also extends to the addition of two new features in the wallet.

Note: For existing Arax Crypto Wallet user, you will see an update notification on your screens so you just need to simply update your App to enjoy the new features. For new users- first of all, welcome to the family secondly, click on the links below to download the COSS Wallet and leverage the benefits provided by it.

Google Play Store (v.1.1.4): http://bit.ly/cosswalletplaystore

Apple App Store(v.1.0.7): http://bit.ly/cosswalletappstore

 

What to expect from COSS Wallet.

  1. Address Book Feature

One of the innovative thinkers in our team came up with an idea which was purely born from the womb of his laziness. He thought, why to copy and paste the wallet address of people every time you want to transact cryptocurrencies. Instead, it’ll be a great idea to save them just like we save contacts on the phone. Voila! We have an address book feature in our wallet that allows you to do just that.

How to access it

Open COSS Wallet>Click on Account icon>Go to profile>Click on Address Book.

You will find a list of all your saved contacts divided into two categories, COSS and Non-COSS. To add a new contact,

Click on (+) icon> select COSS/Non-COSS user> enter the details>click on save.

It’s that simple!

2. COSS Star Rating

The Star Rating of the COSS Wallet users is a very significant feature as these ratings will determine your eligibility to avail various wallet services. The number of Stars assigned to you will reflect the level of completion of your profile.

Not just that, COSS Plus reward points are awarded to you for receiving every next star rating. These reward points can be redeemed to make mobile top-ups or can be exchanged for COS tokens (1 COSS Plus = 0.1 COS).

How to earn Star Rating

Receiving each star rating is very simple and rewarding. Here is all you need to do:

  • 1 Star Rating — Getting your first star is the easiest. All you need to do is successfully verify your email which is also the first step required to create your wallet. Easy points!
  • 2 Star Rating — When you receive the second star, you will be rewarded with 25 COSS Plus points and unlocks the mobile recharge services. All you need to do is create a COSS id and verify your mobile number.

COSS Wallet supports mobile recharges in 160+ countries and for 900+ operators allowing you to recharge mobiles of anyone, anywhere, and anytime.

  • 3 Star Rating — Things become a bit serious here. Just kidding, all you need to do for this star is complete your KYC process. Completion of this step will reward you with 50 COSS Plus points and will unlock the upcoming crypto lending and fiat to crypto services.

There are five simple steps to complete your KYC process.

  • Identity: Upload either your passport, national id or driving license. Make sure that your ID is not expired, the photo should be in color and clear with all the text and four corners of the Id visible.
  • Personal: Fill in your full name, date of birth, citizenship, and gender under this category.
  • Selfie: As the name suggests, upload your selfie clicked in good lighting conditions.
  • In-person: Here you need to upload a video with your face clearly visible. You need to speak your name thrice and the date of video recording. It shouldn’t be more than 10 seconds and 100MB in size.
  • Address: To verify your address, upload a picture of the front and back of either of the three documents- passport, national ID and driving license.
  • 4 Star Rating — After you receive your 4th star, you will be entitled to receive 100 COSS Plus points. This step is necessary to be an active participant of all the ongoing social media campaigns of COSS and earn rewards.
    For this, you need to link your social media accounts including Google, Facebook, Twitter, LinkedIn, and Telegram with your wallet account.
  • 5 Star Rating* — Coming soon
    COSS Wallet will be introduced with Biometric and Facial recognition in the near future which you will have to complete to get the 5th star. Also, you will be rewarded with assured COSS Plus points after the completion of this step as well.

What to expect in the future?

The entire team is working tirelessly to come up with rewarding marketing campaigns and new features. We will soon be integrating these reward systems and features across all COSS platforms.

Have a suggestion or found a bug?

If you have a suggestion for us or encountered any problem during your experience with COSS Wallet then please send us an email detailing your problem/suggestion along with screenshots (wherever applicable) at support@cosswallet.com.

Disclaimer: These awards may be subjected to alterations based on the discretion of the company. The company holds all the rights to make any changes in the rewards allocation at any time it deems fit.

UPDATE - 10 July 2019

Update

Hello, everyone. It has been an exciting past two weeks and we are here to share what we have been working on lately. In today’s update, we discuss the following:

  • Negative maker fees
  • SPIKE listing
  • COS Swap Update
  • Delisting of projects
  • Optimisation of pairs
  • COSS Wallet app updates
  • Node fixes
  • FSA structure & dust conversion
  • Bug fixes and improved operations
  • Exchange liquidity and developments around it
  • Listing new and popular projects
  • The mobile app

Before we go into today’s updates, we want to take a moment to go into some of the events that happened since our last Medium update.

– Negative maker fees was promised and is being implemented tomorrow, 11th July at 11.30 am GMT +8. For more information, please read the full Negative Fees announcement.

Clarification: The levels are to be considered as ranges like 0–500,000, 500,001–1,000,000 and so on. The numbers you see in the table are the higher threshold number in each level.

A counter to track the volume on your individual accounts will be implemented in August.

  • Spiking’s SPIKE has been listed on our exchange. There was a joint announcement on the 6th of July as well as a facebook video between Clemen and Rune, and we are now into the 3rd day of the listing and trading promo. 5 million SPIKE is up for grabs!

– COS token withdrawals have been successfully implemented. If you prefer to store your COS tokens on an external wallet and still receive your daily FSA, please refer to our guide. The swap has been going smooth and we have been watching very closely. At the point of writing, there are about 175 million COS tokens in circulation. Do take note that CMC has not updated our circulating supply; their site still shows up as 119 million.

If you had transferred your COS to the same wallet as you used for COSS and had setup the identifier, you do not need to do anything. The external identifier needs to be setup for wallets not previously mapped with the same.

– We are delisting the following projects on our exchange. Trading was stopped on 28th June for all the following tokens:

FYN — FundYourselfNow

SENC — Sentinel Chain

STX — Stox

CAN — Canyacoin

OPQ — Opacity

TRAK — Trakinvest

ITT — Intelligent Trading Foundation

NOX — Nitro

PIX — Lampix

VZT — Vezt

Withdrawals of these coins and tokens from COSS will continue to be supported until 11.59PM GMT+8, 28th July 2019. Please make sure that any above tokens that you are holding in ANY of your COSS accounts, are transferred or withdrawn, including your FSA accounts.

– As mentioned earlier, we have taken steps to delist non-performing pairs. Pairs optimisation is next on the agenda and goes hand in hand with liquidity and volumes. We will be cleaning up the trading pairs on the exchange, and this is scheduled to be done after negative maker fees implementation. This process will be undertaken by the token review team, and it will be a continual review process from now on.

Concurrently, our token review team has also reached out to some of the listed projects on our exchange to maintain minimum volumes, while we also discuss possible promotions with them to bring in their respective communities.

– Our multi-sig warm wallets have been updated on 28th June. This is not a visible change for you, but it is an important part of our ongoing upgrade process. We are continuously working on enhancing the security of these wallets by putting proper policies, rules and structures in place.

– We published the first letter by our CEO, Sankalp, addressing the joint community. This will be the first of his monthly updates, and Sankalp will be outlining our plans, vision and mission for COSS in these letters. If you are interested in the direction of COSS post-merger, this is a letter you will find informative.

– Arax wallet has been rebranded to COSS Wallet. This marks another step towards the merging of our products into a unified ecosystem. You can find the updated apps on your preferred app stores. Again, this takes a significant marketing and development time to implement but it was an important step towards a unified brand and goal.

– In the latest update, COSS Wallet is upgraded with the following features:

  • COSS Rating: It is a very significant feature as these ratings will determine your eligibility to avail various wallet services. The number of Stars assigned to you will reflect the level of completion of your profile. For example, the second star unlocks mobile credit top-up services. All you need to do is create a COSS ID and verify your mobile number. We intend to implement the features on the exchange as well while designing the mobile experience, in time to come. No timelines yet, don’t run ahead of y/ourselves. 🙂
  • Address books: COSS Wallet now lets you save crypto wallet addresses just like contacts. No need to copy and paste the wallet address of people every time you want to transact cryptocurrencies. This is to make the transfer experience easy. Download the wallet and try out some of the features! While you are at it, don’t forget to use the Nearby GPS transfer function between family and friends.

Now, on to some updates & new developments we are working on:

Node Upgrades: We apologise for the delay in node upgrades for many months. As a first priority for July, we are going to bring BCH and Horizennodes back online, followed by the other nodes in the next few weeks. We will update you of our progress and we are working actively to bring the nodes up as soon as possible. Lisk and Ark nodes have been restored earlier and are fully operational.

New Blockchains: Now that the existing nodes are a priority, we plan the future alongside. To enhance token usage and value, onboard new users, instill liquidity, it is essential that we continue to list new blockchains and their ecosystem tokens. We are working on that as well and will include details in upcoming updates.

New FSA Structure — After implementation of negative maker fees, trading tech team is now working on the new FSA structure that we promised for July / August. The idea is to simplify the FSA structure, fee collection, token allocation and distribution as described in the last update. As for the FSA dustin user accounts, we are considering multiple options, as it needs some dev time. We shall announce the exact details when we are ready to implement these changes.

Bug & Features Fixes: The team has been fixing some of the most common bugs based on feedback from our users over the past few weeks. We are getting the issues resolved in batches. These are being tracked internally and we shall notify the community where possible. These include fixing the ‘failed to submit KYC’ error on the exchange which has been persistent.

The entire operations team has been revamped under the leadership of Ranjit as COO — he has been leading this brilliantly for LALA World/Arax support, feedback and operations functions and now quickly updating the processes for COSS.

Exchange Liquidity — This is the most important task that our CEO Sankalp Shangari, along with Rune, are actively working on every day. Here is a list of things being worked on to address this –

  • Negative Maker Fee — will be implemented on 11th July, 2019
  • New project listings — token listings have begun again and we are adding more in the queue
  • Super Trader Programme — Internal project code-named ‘The COSSanova Programme’ — keeping it under wraps for now but more details soon… watch this space!
  • Listing popular and top tokens but with more depth on order books and planning
  • New blockchains to attract new users and respective communities
  • Marketing initiatives — More details soon, including the much awaited COSSmonaut ambassador and referral programmes to expand into more geographies
  • The mobile app team is working closely with the exchange product team to figure out the best way to synch and enhance the user experience, which will bring lot of much expected upgrades to the mobile app.

Stay tuned for more updates coming your way.

You can expect to hear from us again, soon… 🙂


Join the community at our various channels :

Telegram Announcement Channel: https://t.me/COSSchat

Telegram General Discussion group: https://t.me/myCOSS

Telegram API/Bot Discussion group: https://t.me/COSSAPI

Chinese Telegram General Discussion group: https://t.me/myCOSSchinese

DACH Telegram General Discussion group: https://t.me/myCOSSdach

COSS Info channel (Community managed): https://t.me/COSSinfo2

Facebook: https://www.facebook.com/COSScrypto/

Twitter : https://twitter.com/COSScrypto & https://twitter.com/COSSwallet

Reddit: https://www.reddit.com/r/CossIO/

YouTube: https://goo.gl/hd6tBg

UPDATE: Negative Maker Fees -COSS.io

Negative maker fee

Hello, everyone.

As a step towards improving the trading fee structure for traders on COSS.io, we implemented 0% maker fees on 27th May, this year. This was an interim step towards introducing negative maker fees.

The moment we have all been waiting for… COSS is pleased to announce that negative maker fees will be implemented this Thursday, 11th July at 11.30 am GMT +8.

The exchange will be under maintenance on Thursday, 11th July between 11.00 to 11.30 am GMT +8 to implement this new fee structure.

Here is the new trading fee structure:

*Trading fees paid with COS tokens earns traders a discount of 25% on positive trading fees, where applicable.

What exactly is negative maker fees? In short, traders earn an incentive for posting liquidity in the order book.

There are several advantages to COSS and the community and in line with our vision of “Community First” & “Simple First”.

COSS has now become one of the very few exchanges in the world to have implemented negative maker fees along with the likes of BitMEX. Every step that we take henceforth makes sure that our community is kept first, while also ensuring that new users coming to our exchange are given the best trading platform possible.

The updated fee structure we are implementing can also attract more liquidity — by incentivising market makers to build a deeper order book. There are several other initiatives planned that should lead to further liquidity on COSS. We will be making more announcements in the coming days and weeks regarding those.

This is in line with our plans and promise of delivering results, and swiftly, in July.

Nothing more needs to be said. Happy trading and enjoy the negative maker fees!

Expect to hear from us again, soon… 🙂


Join the community at our various channels :

Telegram Announcement Channel: https://t.me/COSSchat

Telegram General Discussion Channel: https://t.me/myCOSS

Telegram API/Bot Discussion Channel: https://t.me/COSSAPI

Chinese telegram: https://t.me/myCOSSchinese

Facebook: https://www.facebook.com/cosscrypto/

Twitter: https://twitter.com/cosscrypto

Reddit: https://www.reddit.com/r/CossIO/

YouTube: https://goo.gl/hd6tBg


DISCLAIMER: COSS reserves the right to update this fee structure at any given time in the future depending on market circumstances and regulations.

This announcement is not meant to be taken as investment, accounting, tax or legal advice or a recommendation to buy, or sell any security, digital asset or other investment, management product or service or pursue any investment strategy. This post is for reference only. It will not help you to “lambo” or “moon” or any other euphemism for unhinged speculation. It should help you to supplement your own analysis of the project’s commercial viability.