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. If we would mention only one of them (gun to our head), it would be Coinut that has received a lot of praise from the crypto community lately.
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 fees
Fees are important. There is no way around that fact.
This particular exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model.
This trading platform’s flat trading fee is 0.20%. This is actually slightly below industry average (global industry average can be argued to be approx. 0.25%).
COSS Withdrawal fees
COSS charges a withdrawal fee of 0.001 BTC when you withdraw BTC. This is also in line with industry average.
COSS does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading here. If you don’t have any crypto but want to start trading at this cryptocurrency exchange site, you will first have to purchase cryptocurrencies from another exchange site and then, as a second step, deposit them here.
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: