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COSS Wallet

Introducing The Best Crypto Trading Fees in the World

Trading Fees

Launching on 18th September 2019 at 14.00 GMT +8

“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” – Ed Seykota

Modern digital assets aka cryptocurrencies have become an integral part of the savvy investor’s portfolio in an attempt to diversify it. You don’t get extra points to guess that this diversification is prompted by the need of any smart investor to maximise their profit and keep their losses at a minimum.

This is what every investor is striving for eventually – profits – right? Then why to decrease them in the name of something that’s mandatory yet seems so unnecessary for the investor?

Agreed. So what are you getting at?

Fees.

If you are a cryptocurrency trader (which we assume you are, or you wouldn’t be here) you must be subjected to the fact that trading cryptocurrency involves fees, a lot of it. This fee is levied in the form of blockchain network fees, your fiat deposits and withdrawals (if your exchange allows it) fees and a lot of trading fees if you do not choose the right exchange to trade on.

Trading fees… what about it?

A portion of every trade you make aimed at maximising profits almost always get deducted in trading fees collected by the exchange, just like that. A one-way street!

Well, they gotta eat too. But thank YOU very much for trading.

Let us repeat that – ‘A portion of every trade’. That is a lot in trading fees, especially if you are a frequent trader. That is sometimes quite a lot of your actual turnover when turned into a cost. Don’t scratch your head, just take a look at the image below.

Here’s a quick look at what some of the exchanges charge you:

Also, if you think that’s all, then we are sorry to break this to you – it does not stop there. There remains a constant spread on the order book, in between the bid price and the ask price, which will make you ‘buy high, sell low’ if you are new to trading and do not know what you are doing. Every trade on every exchange performed by every trader has something called a ‘market impact’.

The spread also depends on the fluctuation of prices of individual assets which are a part of the trading pair.

Phew. I hope that’s all?

We wish!

Depending on which country you are in and its local tax laws, you must pay taxes on the gains you make.

Once you are able to understand and incorporate all of the above in your cryptocurrency trading strategy, you have finally arrived in the beautiful ecosystem that this modern digital asset economy is!

The anatomy of a trade:

Any trade at its basic level takes one of two forms:

  • A maker: a trader who adds a new order on the exchange and thus opens a trading opportunity for other traders. Other traders might try to put up a better-priced order, buy yours out or simply use it as a reference to decide where they would like to put their own order.
  • A taker: a trader who matches the order put up by a maker on the other side of the trade is a taker. Their order results in the execution of a successful trade with a maker.

Most exchanges either charge a flat fee per trade for both makers and takers, or charge a slightly lower fee to the maker as a minor incentive to provide trading opportunities.

Let’s change that for better and make trading tastier today… for every single trader out there.

COSS launches the most lucrative and the best crypto trading fees in the world – for all its traders.

So what exactly are our fees, compared to other exchanges? 

This fee structure actually pays you to trade!

That is one way to make sure your trades are not losing out on profits due to fees.

COSS offers –

  • 0% maker fees for all traders
  • Negative maker fees for all traders with a trading volume above US$ 5000
  • 50% of all trading fees generated on COSS shared daily with COS holders in ETH & COS
  • 25% discount on all applicable fees when paid with COS token
  • 0% deposit fees on fiat transfers with support for USD, EUR, GBP, HKD and JPY

On COSS, every trader pays 0% fees for all orders placed in the order book. If you trade frequently, COSS even pays a percentage of the fees to you!

Everyone wins. Whether you are an institutional market maker or a trader making trades to grow that stack, at COSS you will always pay the lowest fees possible.

Trade faster, cheaper, and maximise profits.

Trading in cryptocurrency and other markets has quickly evolved to a more automated, analysis based, algorithmic, high frequency trading. In addition to proprietary bots developed by those who code, they are so many more such as Gimmer – which let you build, test and implement trading strategies on COSS with the shortest learning curve.

The trading fees being 0% for all market makers makes identifying and creating opportunities in the market cost-free. Traders can now run a whole range of strategies such as Bidding, Arbitrage and even High Frequency Trades (HFTs) on COSS. The more you trade, the better it gets.

Sounds too good to be true. So what’s the catch?

The catch is very straightforward. It is time to be part of Asia’s largest digital asset ecosystem and make trading on COSS part of your trading strategy — a transparent, welcoming and active community of passionate people from around the world.

You really need to read the points above if you’ve just scrolled all the way to this part without reading the rest!

And while you are here… here’s the full new fee structure:

Happy trading!

And expect to hear from us again, soon… 🙂

Here’s a look into the Crypto One Stop Solution – Asia’s largest digital asset ecosystem:


Disclaimer: 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. It 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.


Join the COSS community on our various channels

Telegram General • Telegram Announcement • Telegram Chinese • Telegram DACH • Telegram Info (Community Managed) • Facebook • Twitter • Reddit • Feedback & Suggestion Form

TRADE CRYPTO WITH FIAT ON COSS WITH LOW FEES

Trade Crypto

Cryptocurrency and blockchain have clear benefits and real-world use cases. Unfortunately, it can be difficult for the man in the street to make an entry in this space without having a bridge that can facilitate the exchange of fiat with crypto. Retail users require a fiat on-ramp platform to utilise the advantages offered by cryptocurrencies.

The problem lies in the fact that there aren’t many exchanges that offer these fiat on-ramp options, and the fees of those platforms that do offer these services are oftentimes exorbitant.

We are changing that today.

COSS cryptocurrency exchange has been relentlessly churning out developments for the benefit of its users. It has now become more inclusive of crypto traders by integrating Epay.com as its fiat service partner.

This move puts us in the league of a handful of crypto exchanges that support fiat deposits and withdrawals on their platform. Our vision is to expand the blockchain ecosystem by making crypto more accessible to the masses and explore additional avenues to drive growth.

We are extremely excited.

As a team, we are driven by a vision to make COSS a robust crypto ecosystem and are committed to increasing crypto adoption by bringing in innovative products and services. We believe this new integration will make COSS your most preferred exchange.

You should be excited too!

It is very simple to access fiat deposit and withdrawal on COSS. We begin with USD and EUR deposits and withdrawals today.

  • Sign up on COSS.io and complete your KYC
  • Sign up on Epay.com and complete your KYC
  • Load your Epay wallet with USD or EUR using your preferred method
  • Initiate a deposit into your COSS.io wallet from the exchange dashboard
  • Get trading!

It’s that simple.

We wanted to bring in more reasons for users to utilise this service offered by COSS. Guess what we did for that? We made this service more lucrative for the users by levying no fees on deposits of fiat currencies and very low fees on fiat withdrawals. COSS also offers a 0% maker fee to all traders.

You read that right. 0% deposit fees on COSS. For everyone!

We are also setting the withdrawal fees on COSS at a competitive 2%. Support for more fiat and cryptocurrencies will be enabled in the coming days.

Trading will open on the following pairs today:

– BTC_USD
– ETH_USD
– COS_USD
– BTC_EUR
– ETH_EUR
– COS_EUR

We will disable the old fiat providers on our exchange. All other fiat pairs will be disabled. If you have a balance in your GBP wallet, please contact [email protected].

Our mission is to bring together the various elements and services of the crypto world to one platform providing our users with ease of choosing. Our various products and services are designed with the aim of building a sustainable ecosystem that is centred on its users.

COSS adopts a unique approach to including the elements of decentralisation into its system through the Fee Split Allocation feature. The feature employs a smart contract to distribute 50% of all trading fees generated on COSS among COS token holders – every day.

Join the COSS community on our various channels

Telegram General • Telegram Announcement • Telegram Chinese • Telegram DACH • Telegram Info (Community Managed) • Facebook • Twitter • Reddit • Feedback & Suggestion Form

Monthly Message from the CEO

Newsletter CEO

It has been a fantastic August for COSS and September is set to be even better…

While the previous monthly messages from COSS CEO, Sankalp Shangari, came as letters, we decided to upgrade the format to a video address.

In this update, Sankalp shares his thoughts on the mass adoption of cryptocurrencies and updates from the month gone by along with what’s in store for September.

Here are some of the talking points in the video above:

  • Adoption of crypto and what will drive it
  • Building the COSS ecosystem
  • COSS Wallet
  • RPZX, EDC and TCAT listing, and delistings
  • COSS ‘Liftoff’ launch with SWAPS.NETWORK token sale
  • COSSmonaut programme launch
  • BCH, ZEN nodes & NEO GAS
  • Fiat on and off-ramp integration
  • Fee simplification and updated quote pairs
  • KYC upload error
  • More attractive trading fees
  • Referral programme
  • Long term goals, a stronger community and tokenomics

Stay tuned for more updates coming this month.

Subscribe to Sankalp’s personal newsletter ‘HashTalk on https://hashtalk.substack.com/

Listing Update – 29th August 2019

EDC and TCAT

4 Horsemen of the Upcoming Digital Currency Apocalypse

Digital Currency

Blockchain and its narratives are changing at a fast pace. One of the most important ones doing the rounds these days is “Digital Currency Wars” These are new-age currency wars, not the traditional “you devalue your currency, I devalue mine” rhetorics. Let me walk you through what has changed, what is leading this change and my take on this Paradigm Shift in New Age Digital Currency Wars. In my opinion, these will be shaped into something unfathomable and definitely something that we haven’t witnessed in the history of monetary policy.

The stablecoins were already there but what is happening for the last few months and weeks is quite ineffable and unimaginable. It all started with the introduction of Bitcoin ten years ago, and its gradual yet steep growth, with a huge fan base. The scarcity of Bitcoin and the decentralised leaderless movement initiated by it has obviously created a maximalist fan following.

Enter, summer of 2019, & LIBRA comes along. This is truly a catalyst because it has led to nervousness among governments and corporate alike. In this blog, I intend to briefly touch upon the contenders of this new crypto war by dividing them into 4 broad categories.

  1. Corporate Currencies for the first time in history
  2. Government backed Fiat currencies and their new Avatar
  3. Bitcoin the Maximalist saviour currency
  4. Influential Individuals and the Influential Currency

1. Corporate Currencies for the first time in history

For the first time in history, we have Corporate issuing their own currency vs the government. Remarkable if you think of this change, from thousands of years of history. It is quite fascinating to see that Blockchain has empowered corporations to introduce their own currencies which were unfathomable a few years ago.

First, we have LIBRA and Facebook, one of the largest platforms in the world with approximately 2 Bn users. Not only the US, whom we saw expressing its concerns towards LIBRA in the senate hearings but also the Chinese, the Russians, and even the Venezuelans and the Swiss, everyone is concerned. LIBRA is indeed that catalyst, that can of worms that has all the currency ugliness crawling out.

My turn, jerk!!!

Secondly, how could other daredevils like Binance & Tether be left behind? While Libra has been making the rounds and there were some cold feet and developments in Switzerland, we suddenly saw an influx of some news last week when Binance announced its Venus platform & Tether the CNHT.

Binance is the largest exchange with a huge fan following and Venus, in my opinion, is a platform that they are building on their own BNB Blockchain. It will operate with local governments and fiat-backed projects where everybody including governments and larger institutions can issue their own currencies and their own stablecoins like BNB USD, BNB GBP, BNB INR, etc.

I would presume that Binance is already working with some African nations and countries like Malta where they are apparently registered. Knowing the pace of what CZ and BNB have been doing so far with the launch of one product after another, almost on a weekly basis, I wouldn’t be surprised if this turned out to be a huge success. However, we are yet to witness any such outcome since this is a complicated war, and it’s not going to be an easy ride.

Tether, on the other hand, has risen from its stable coin status towards a whole different purpose. Rumours are that Tether has introduced or is about to introduce CNHT which is apparently backed with offshore Yuan. I am not sure how the Chinese government is going to react to this news (I am expecting a huge reaction to be honest) but, on the corporate side, this is big news.

Thirdly we have already announced banking coins like JPM Coin and the Goldman backed USDC. Nothing new but many large banks must be planning similar. No one wants to be left behind and be the next Nokia. At least, let us put up a fight like Blackberry. Other corporations like Walmart, Amazon, Tesla, Google etc won’t be left behind and that is where we will see innovation, blame game, regulatory insights, and a whole new drama. Some are backed by the government; some are backed by the government-approved fiat and some are algorithmically driven. How this space spans out is no less than opening Pandora’s box.

2. Government backed Fiat currencies and their new Avatar

Firstly we have the Chinese central bank is apparently working on their own currency for the past two years. A digital native currency which is probably exaggerated by Libra’s introduction and Trump’s continuous rhetoric against the Chinese.

Then there are other nations which are gearing up to join the race with Russians and Rwanda in Africa working on cryptocurrencies of their own. Venezuela has already come out with Petro and the Swiss are also working on an E-Frank as we are to believe.

However, the bombshell was Mark Carney, the Bank of England’s governor asking central bankers around the globe to come together and, ‘let’s make our own Libra’ moment. Ballsy, but a great solution IMO. He urged all governments to come together and create a massive network effect larger than the US Dollar. So, we have corporates on one side today, which wasn’t the case earlier, standing against governments that are coming up with their own stable cryptocurrencies. Then there is a third actor i.e. Bitcoin.

3. Bitcoin the Maximalist saviour currency

I love Bitcoin so I could be biased so read this with a pinch of BTC salt. Bitcoin is leaderless, decentralised and an algorithmically driven movement that has attracted millions of users already over the last 10 years.

Bitcoin was introduced following the Great Recession of 2008 which had shaken the trust of the world that they had placed in the centralised, government-issued currencies. The inflation of fiat currency due to its unregulated issue made the world realise the need for a decentralised currency that is not under the control of a single entity. Additionally, its value is determined by the market forces and its supply is limited.

Its monetary base is fixed at 21 million and once you own a certain fraction of Bitcoin’s total supply, you will always have at least that fraction of it. Also, the total Bitcoin mined with the mining of every Block also decreases in every four years (Bitcoin halving) making its supply scarce. This is in a scenario when Bitcoin forms 70% of the entire cryptocurrency market.

It is this decentralised and trustless nature of Bitcoin that contributes to its popularity and sets the benchmark for cryptocurrencies which they are yet to meet. A trust in a particular currency increases with the members of the community that are supporting the network. In the case of Bitcoin, since the number of such nodes is higher as compared to other cryptocurrencies, this increases an unsaid trustless nature of Bitcoin. To put it in a nutshell, the number of nodes validating a transaction implies increased decentralization and protection against fraudulent transactions.

4. Influential Individuals and the Influential Currency

Then there is a fourth possible digital currency which no one is talking about (yet) but I find it extremely crucial to touch upon this. It is small groups of individuals or just individuals who have a great fan following introducing a coin of their own. Imagine if Pump, Bezos, Vijay, Ari Paul, Tim Cook, Balaji (not including Zuck Bucks here 🙂 etc. collectively form their own cryptocurrency. There will be a massive user base comprising of their respective fan following which will immediately attract, I am also hoping that they would keep the good of humanity in mind leading to economic freedom for all.

In the end, I think it will be a treat to witness these four contenders of currency wars, Corporates, Governments, Bitcoin, and groups of smaller recognised individuals fighting for a cause. The cause will build its credibility. That credibility will create usage. It’ll be interesting to know about how it plays out economically and politically, along with the issues it’ll bring with itself. Will it get massive? Which will get massive? The unfolding of it all will be very interesting. The base layer of money as we know it will drastically change.

But, the primary question is, what will all this lead to?

  1. I think, all this means that from the traditional trade wars of currencies i.e., devaluation of currencies as it is happening at the moment, we are moving towards a whole new currency war regime.
  2. What it means for BTC is that it’ll continue to grow and attract more users as it is the only decentralised player in the room. It has the maximum amount of following and it is the genesis block of the new currency wars.
  3. In the end, I believe that it is all about trust and credibility. It’ll majorly answer the question i.e., who do you trust? The corporates, the governments, the Bitcoin or these small group of recognised individuals who have already proven themselves.
  4. This will all lead to the acceleration of crypto adoption. All very bullish for BTC and some altcoins which have real users and use cases.

In the end, this war of digital currencies on one hand, and extreme control with corporate on other won’t be a pretty sight. On the other hand, there are government corporate puppets like JP Morgan and Goldman who stand against a leaderless movement led by Bitcoin. Then we have the Govts coming up with their own ammunition and the addition to this mix of this new breed of individuals led cryptocurrency. These currency plays would be extremely interesting but in the end, the crowd will speak. Credibility & trust will win, along with ease of use, cost, and efficiency. Winner takes all this time.

WBTC is now live in COSS Wallet

WBTC live in COSS Wallet

Hello, everyone.

We are expanding our list of supported assets by incorporating one more token this week.

Today, we have integrated WBTC in the COSS Wallet app allows users to store, send, receive, spend and exchange the cryptocurrency from one single wallet.

About WBTC (Wrapped BITCOIN)

Wrapped BITCOIN a cryptocurrency token that instills more liquidity in the Ethereum ecosystem which includes decentralised exchanges (DEXs) and financial applications. At present, the greater part of trading volume occurs on centralised exchanges using Bitcoin.

With WBTC, a shift in trend will occur where DEXs will also be able to enjoy the benefits of Bitcoin’s liquidity and make token trades with Bitcoins a possibility. It generates smart contracts for Bitcoin which ‘wraps’ Bitcoin to standardise it to ERC20 format.

It facilitates the writing of smart contracts that integrate Bitcoin transfers.

About COSS Wallet

COSS Wallet allows you to securely store, send/receive crypto via GPS using the Near-by feature. It gives you complete control over your crypto and enables access to all your crypto private keys with one master password. We now support 33 cryptocurrencies, across 9 blockchains.

COSS Wallet offers various in-app services:

  • COSS Star Rating – Earn COSS Plus reward points on every next star rating you achieve.
  • Address Book feature – Save your wallet addresses just as you save your contacts. 
  • Mobile bill payments & Recharges – Make prepaid mobile recharges and pay postpaid mobile bills using supported cryptocurrency across 160+ countries
  • Instant cryptocurrency conversions – COSS Wallet allows you to convert your cryptocurrency instantly
  • Send and Receive crypto with an industry-first GPS-based “Near-By” feature – Now transfer cryptocurrencies instantly nearby without any hassle via GPS.

We are making every effort to bring the best services to our users and expand our partnerships.

Team COSS

 

Stability in Uncertainty | The new billion dollar Cryptocurrency market

Stablecoins stability

The “COSSMONAUT” Programme

Apply for COSSmonaut

Community involvement has been a strong catalyst to the growth of the COSS ecosystem, and we have always been grateful that there are many willing hands in the community to help us in one way or another.

Introducing the COSSmonaut ambassador programme. We want people from the community who can go above and beyond in creating regular, positive contributions when it comes to spreading the word about COSS.

What we aspire with COSSmonaut is to become not just a mere ambassador programme, but to build a critical mass of COSS supporters to transform and grow together with us.

Update – 21st August 2019

Update from COSS

What the Bakkt – Market News Price Movements

Bakkt Blog

Somewhere between ‘wen moon’ and ‘wen Bakkt’ we grew up.