COSS Exchange new CFT Utility Coin is a Gamechanger for Crypto Trading
I have wrote two posts on the COSS crypto exchange before. I am a holder of COSS coin and I do think it has a great future. Even more so than the Steem blockchain. When I first invested in it I was investing in an idea. If you held their exchange coin then you would get 50% of their trading fees. So say hypothetically speaking there was 100 million COSS coins and you own 100,000. You would be entitled to 0.1% of the trading fees. This might seem small but imagine you were getting 0.1% of Binance's trading fees on a weekly basis (soon to be daily). Binance profits were $446 million last year. I am not saying that their profits are all from trading fees but a huge percentage is made from fees. Let's say for arguments sake that 300 million of profits was made up of fees. If they had the COSS model then 150 million would be given to the COSS holders. The person holding the 100k COSS would be entitled to $150,000. This is based on Binance. 100k COSS today would cost you around $8000.
Let's park this for a moment as it is unlikely. For COSS to get to Binance volume it would be a miracle right??
Now here's the thing. Binance use their coin BNB to reduce fees. I hold some BNB myself. It is a great idea and I trade on Binance and use BNB to reduce my fees. I have to spend quite alot buying BNB on a monthly basis to ensure I get the discounted trading fees. It is especially important for my bot usage as some of my bots are making 100 trades per week so that is quite alot of fees. So buying BNB coin is necessary but it is still a cost incurred. The coin has rocketed which is great but it's function for me is what it is made for, utility. Right let's now head back to COSS
COSS must of liked this Binance Coin idea, having their own coin to reduce fees so COSS have launched it's own CFT coin (COSS Fee Trading) last week. Like BNB coin it has its own market and it is currently trading at just over 2 cent(down from 10 cent). Yep it is on the floor but they always plummet after launch. But people are not aware of how amazing the whole trading system is now on COSS. It has turned COSS into gamechanger for crypto trading.
COSS have a few reasons for bringing out CFT. If I hold their COSS coin , I get the fee split (like Kucoin)that will be daily next week. Traders on COSS love getting their fee split every week so they do not want to trade in COSS coin.It is the main selling point for the exchange. They would prefer to trade in CFT because it will not deplete their fee split percentage. So now most traders that know what they are doing on COSS will now buy some CFT in order to reduce their fees. What happens at the end of the week (soon daily) fee split I ask? Yep you guessed it. If everyone is trading with CFT then CFT will be available in volume in the fee split. So my trading fees are reduced by using CFT but not only that, I now have a steady supply of CFT topping up my account. I will not have to buy CFT ever again like I do with BNB. So basically I have not wiped most of my trading fees from my profit and loss. So far my Fee Split has me more than covered the amount my bots need for trading fees. Below is my FSA for last week.
And this ladies and gentleman will make buying 100k COSS for 6 cent in todays market a very very good investment in the future.
Now COSS have made mistakes in the past like making unrealistic deadlines and they are totally against shilling their own coin. They have been working on regulation in Singapore over the past year and COSS 2.0 is coming soon. They are pretty good communicators also and they bring out a medium newsletter with updates every fortnight. They are saying the 24th Aprils medium update will be very juicy so I look forward to it.
Oh and did I tell you after some KYC it takes your FIAT.
I am a member of their telegram page and I asked them whether they would be willing to launch Steem or SBD on their exchange. At the moment they are having problems with non - erc coins but they told me for Steem to apply and they would look into it. What you reckon?? Could we get Steem or even SBD on the COSS exchange. It would be worth a try? Who in Steem should I talk to about this? @ned?
Disclaimer : This is not financial advice. Yuppp!
Holy crap blanchy I had no idea you were such a pro trader. Trading bots? Hazus Christo! If I had 8k to play with Id say what the heck and give it a try. sadly, I don't. THis is my first time hearing of COSS, but now its on my radar. THanks!
I’m full of surprise badger! 😀😀. Ah the bots are great if you can get them for free. There are some great paid ones like 3comma. I use this with binance . but i have a free one running on COSS and it’s the business. I’m holding them anyway so everytime the price fluctuates I’m basically banking more. It’s the only way to do it . That or stare at a screen all day which is what I used to do !
These exchange coins are actually a pretty neat idea because they're like selling shovels to gold diggers during a gold rush. Who do you think the typical 19th century gold rush made rich? The rank-and-file gold digger washing away with abandon at some creek while being eaten alive by a trillion mosquitoes? No. It's the merchants who sold them their gear. lol
Even if the entire space crypto failed, exchange coins would have profited their holders because of their utility value! Even Warren Buffet would approve of the value proposition of these coins!
(Yes, I consider crypto a rational thing to invest in.)
Yeah I'm big into my exchange coins. I had 5,000 KCS ( Kucoin exchange ) at 60 cent and sold at 80 cent thinking I was the wolf of wall street. It then went to 14 dollars. I'm not gonna make that mistake again. COSS went to 3 euro during the good times and it didn't really have a functioning exchange at that time. It has totally revamped now and it's looking good
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