A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of COSS consists of four parts: general information, fees, deposit methods and security.
COSS is a cryptocurrency exchange based in Singapore. Singapore is one of Asia’s biggest birth givers to cryptocurrency exchanges. There are SO many.
COSS promotes five factors as the main benefits of its trading platform. These five factors are transparency, instant conversion, state of the art security, integrated cash flow and “FSA”. FSA stands for the fact that 50% of all trading fees that the exchange charges goes back to the holders of the exchange’s own token, the COS-token.
COSS does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that would otherwise have been the best cryptocurrency exchange site for them (maybe including this one).
COSS Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at COSS:
COSS Trading fees
The one thing we can’t stress enough is that you must always ascertain the trading fees at any exchange you are interested in. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers make the liquidity in a market and takers remove this liquidity by matching makers’ orders with their own.
The trading fees for takers at COSS are 0.25%. This fee is in line with industry average. The exchange also has a great offer to makers, who don’t have to pay any trading fees at all (0.00%). But that’s not all. If your trading volume reaches a certain level, trading fees are reduced. Takers can pay as little as 0.15% and makers can get paid for trading. The details are set out in this table:
COSS Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. For BTC-withdrawals, this exchange charges 0.0005 BTC. This is below the industry average. Global industry average BTC-withdrawal fee is approx. 0.0008 BTC.
All in all, with respect to the fees, COSS has a truly competitive offering.
COSS previously did not accept any other deposit method than cryptocurrencies. But as of 11 September 2019, you can now deposit fiat currency here as well. You can deposit through bank transfer using US dollar, Euro, British Pound Sterling, Hong Kong Dollar and Japanese Yen. Credit card deposits are not yet enabled though, so if that’s a “must have” for you, you’ll have to resort to our Exchange Finder to find another trading platform for you.
This trading venue’s security score is C+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is also in line with industry average when it comes to top crypto exchanges.
Finally, the exchange reviewed above has a large number of supported cryptocurrencies. If a large number of supported cryptocurrencies is an important factor for you in your choice of cryptocurrency exchange, you could also check out the following exchanges: