Frequently Asked...

When will I be able to withdrawal funds transferred from the original platform

All of the accounts from the previous COSS Platform are going through an audit process. As soon as the audit is done on your account, those funds will be available to trade and to withdrawal.

We understand your frustration and appreciate your patience as we work to complete the audit and enable access to those funds as quickly as possible.

What is transaction ID and where can I find it?

A transaction ID is a unique reference code used as proof that the transaction has taken place. It is recorded on the Blockchain and can be traced easily. The transaction ID is safe to share as it contains the details available for viewing on the public Blockchain.

To answer your support requests associated with deposits, withdrawals, and exchanges, we may sometimes require a transaction ID. You can find your transaction ID information in an email confirmation received from COSS once the transaction is sent.

Funds not showing in account

Please allow some time for transactions to clear. 10-30 minutes on most ERC20 tokens depending on the network and 1-3 hours for BTC & USDT as a general rule (exceptions may apply both ways).

Estimated time for deposits and withdrawals to be reflected in your wallets can take between 3 and 6 hours.

Do kindly inform us if this time frame was exceeded.

Please kindly provide us with your TXID (TxHash) and we will do our best to resolve the transaction as soon as possible.

Is COSS a decentralized exchange?

No, COSS is not a decentralized exchange. It serves as an intermediary between the maker and the taker who place and complete orders in a safe environment that COSS provides.

What is the DAO doing? How does the DAO distribute fees to COS Token holders ?

A DAO is a computer program, run by a peer-to-peer network, in which the governance and decision-making are prescribed by the code or the pre-programmed set of smart contracts.

COSS.IO's DAO enables token holders to receive FSA from the COSS.IO system on a daily basis excluding weekends due to a smart contract governing the process.

How can I add my token or list an ICO on COSS?

COSS is open to partnerships with FinTech startups that already have a token or are in the planning stage of its ICO sale. Such companies can feature their cryptocurrencies on COSS in the market cap listing section, on the exchange, or on the ICO listing page.

1. KYB FORM 

Download and fill in the KYB form (attached below).

Forward the completed KYB form and documents to [email protected]

2. SCREENING

COSS has a systematic procedure for identifying new business partners, and are unable to establish a relationship until the identity of a new business partner is verified.

a) Client IdentificationProgram (CIP) 

The first step is Customer Identification Program (CIP), which requires COSS to collect, document, and establish the basic identity of the client (e.g.legal name & existence, registered details and nature of business activity, etc.)

b) Client Verification

COSS will verify the authenticity of gathered information, verify the client’s identity, and assess the risk of establishing a business relationship. The precise procedures for CDD and EDD depend on the risk profile of the bank that the business partner is using. 

c) Client Acceptance Policy

i) No client account can be opened using an anonymous or fictitious name

ii)Parameters of risk perception are clearly definedin terms ofthe nature of the client’s business activity, the client’s jurisdiction andits associates, its financial status, and any other information that COSS deems relevant.

iii) COSS will conduct any checks required before opening a new account to ensure that the identity of the customer does not match with any customer with known criminal background or sanctioned individuals.

3. LEGAL

Upon receipt of the legal opinion, the COSS legal team will review the documentation and will be in touch with the client’s legal team in the event that any clarification or additional information is needed.

Once reviewed, the legal team will forward the listing request to the Commercial Department.

4. COMMERCIALS

Clients may pay a listing fee and/orcommit to a trading promo on COSS.io 

A trading promotion requires you to commit to a certain number of days, and there has to be an initial contribution of tokens, which can be discussed with COSS management

A typical trading promotion can be describedas:

Promo duration: <number of days> days of trading, between <date > and <date>, and ends at 2359hrs.

  • The top 10 traders by volume split 30% of the pool:

  • The top 11-20 traders by volume split 25%

  • The top 21-30 traders by volume split 20%

  • The top 31-40 traders by volume split 15%

  • The top 41-50 traders by volume split 10%

COSS is open to suggestions for alternative trading promotions, pending approval. 

5. TECHNOLOGY

Our Technical Department will list the token or ICO dependent on the technical team’s availability and client timelines.

Why can't I receive any email from COSS?

You would need to whitelist our email addresses. This problem seems to occur the most with Hotmail, so this guide will give instructions on how to whitelist us. The same methods should apply for other email providers.


1) Login to your email and go to settings.

 

2) View full settings

 

3) Select Junk email section, and scroll down to Safe senders section

 

4) Enter the following into safe senders and safe mailing lists:

[email protected]

[email protected]

 

You should now be able to receive email communications from COSS.io. If you are still unable to receive emails from us, kindly create a ticket and we will get back to you as soon as possible.

How can I make a deposit?

To deposit to your wallet, please follow the steps below:

1. Log in to your account and click on “Wallet” in your account dashboard;

2. Choose the Crypto currency you wish to deposit;

3. Send the funds to your deposit address that will appear in the pop-up window by withdrawing them from an external wallet. Copy and paste this address into the receiver's field in the external wallet to deposit it to your Balance on COSS.io, or scan the QR-code with your smartphone.

Sending a token from MyEtherWallet to COSS.io

Many users store their ERC20 tokens on MyEtherwallet. They might have gotten their tokens from an airdrop, or from purchasing it from an ICO, or transferred it from a crypto exchange.

To send your token from MyEtherWallet (MEW) to COSS.io, please follow the steps above. In this article we are using UBC (UB coin), but the steps are the same for any other ERC20 token on MEW.

Step 1:

Log into COSS.io

Go to Wallets, click on DEPOSIT

Step 2:

Copy Deposit Address.

Step 3:

Go to MYETHERWALLET.COM

Please make sure you are at the right website.

Access your wallet via your preferred method.

Step 4:

Paste in the wallet address in the address field and select the corresponding currency you wish to deposit into COSS.io in the dropdown.

Specify the amount of that token you are sending over.

Click on Generate transaction.

IMPORTANT: MAKE SURE YOU HAVE SUFFICIENT ETHERS IN YOUR MEW TO MAKE THE TRANSFER.

The minimum amount of ether you need to have is 0.01 ETH.

Step 5:

And that's it. Click through any more confirmation screens, and wait a while for your token to show up in the wallet section of COSS.io

What is COSS?

COSS stands for Crypto-One-Stop-Solution and represents a platform with all features of a digital economic system based on cryptocurrency. The COSS platform consists of core elements such as an e-wallet, a cryptocurrency exchange, and a native token. We aim to facilitate the mass adoption of cryptocurrency. COSS is continuously adding new features and services.

What is COS token?

COS token is our very own cryptocurrency, which rewards it's holders with daily payouts excluding weekends in COS & ETH which are converted from all the tokens traded on the platform.

What is COS Token-Based Fee Split Allocation (FSA)?

The COS token generates an entire cryptocurrency portfolio to its holders derived from transaction fees on the COSS platform. This process is called the COS TOKEN-BASED FEE SPLIT ALLOCATION, in which transaction fees are split in half by COS DAO and distributed equally between COSS (Company) and COS token holders. Through this process, 50% of all transaction fees generated by the platform are shared among COS token holders.

What is the DAO?

DAO stands for Decentralized Autonomous Organization, an organization that is run through rules called “smart contracts.” The DAO doesn’t store cryptocurrency itself, but makes calculations as to how it should be distributed. The DAO calculates fee split payouts from coins stored in cold wallets held on-site at COSS headquarters. The calculated values are added to COSS wallets. If you choose to withdraw funds, those funds will come from a cold wallet.

How can I use COSS?

On COSS you can deposit, buy, sell, trade, exchange and withdraw cryptocurrencies, and participate in trading promotions and token sales. You can also receive passive income from holding COS tokens in your digital wallet. By using the exchange, users increase the amount of the Fee Split Allocation.

How many COS tokens should I have in order to receive the fee spilt allocation?

The minimum amount of COS Tokens entitled to Fee Split Allocation is 1 COS. Please note that there is a limitation of 20 decimal points for Fee Spilt. If the allocation count is beyond 20 decimal points for 1 COS token, the allocation will not happen.

How to add COS as a custom token in MyEtherWallet?

COSS Token details:

- Contract Address: 0x7d3cb11f8c13730c24d01826d8f2005f0e1b348f

- TokenSymbol: COS

- Decimals: 18

To which wallet do I receive my part of the fee split?

The allocation will be distributed automatically to your FSA wallet on a daily basis excluding weekends.

How are the Token-Based Fee Split Allocations generated?

The COS token generates fee split allocations in all cryptocurrencies traded on the exchange and distributes ETH and COS to its COS token holders. The amount of the split allocation received by user is defined by a smart contract based on the amount of COS tokens held. The fee split allocation takes place daily excluding weekends. Funds are generated by exchange transaction fees.

How can I receive Fee Split payouts?

To receive Token-Based Fee Split Allocation payouts, you need to purchase COS tokens and store them in your wallet on COSS

Document Requirements

There are 2 main categories to your KYC submission:

Proof of Identity and Proof of Address

For Proof of Identity:

We will only accept international passports or Government-Issued photo IDs.

An international passport as a proof of identity is highly preferred to make your KYC application smoother.

There are mandatory fields that must be present:

1. Photo

2. Legal Name

3. Date of Birth

4. Nationality

  1. The expiry date on your government issued photo ID must not be less than 6 months from your KYC submission date (if it is shown on your ID

  2. Nationality must denote citizenship; we do not accept fields that only indicate the State where your ID is issued.

  3. Please do NOT submit a proof of identity that has been tampered with in any way

All proof of identity submitted must be in COLOR

For Proof of Address :

We will accept the following types of documents :

  • Bank Statements issued within 3 months of application (latin characters accepted )(most preferred) 

OR

  • Utility bills issued within 3 months of application ( latin characters accepted )(most preferred)

OR

  • A tax assessment issued within the year

OR

  • Tenancy contracts issued within the year with the legal name of the customer, a residential address, a date of issue, and lastly, your signature alongside the landlord’s signature

OR

  • Government Correspondence (subject to our satisfaction)

OR

  • Confirmation Letter written in English from Employer confirming your name and address printed on the company letterhead.


For Bank statements and Utility Bills:

These documents has to be issued within 3 months.
Mandatory fields:

1. Legal Name

2. Legal residential address

3. Date of issue

Tax assessments, tenancy contracts and letters from recognized public authorities have to be translated into English.

Misc Info

For faster processing and uploading of your files, we strongly recommend uploading pictures that is UNDER 1 MB in file size.

Your KYC documents will be subjected to assessment by our Compliance team, and they will at their own discretion approve or reject your application.

In the event of rejection, we will make efforts to reach out to you to explain why and request additional documents that will help your application.

If you are not sure if your documents will be accepted, please submit a ticket with the documents that you plan to upload and the compliance team will respond to your inquiry in the soonest possible time. 


KYC Guide

There are 4 components in your KYC application:

  1. Proof of Identity ( any submitted documents with an expiry date has to be more than 6 months from the date of submission. Do note that this only applies for documents with expiry dates )

  2. Proof of Address (cannot be half page)

  3. The data fields you input in COSS website itself

This guide will walk you through the requirements for each component.

Proof of Identity

We accept Passports and Government Issued Photo-IDs. We recommend International passports, as compared to some Government Issued Photo-IDs, because passports contain all the data fields we require.

These are the fields that MUST be present for a valid proof of identity :

  • Name

  • Nationality

  • Date of Birth

Proof of Address

As explained in previous articles, we only accept the following for proof of address:

  • Bank Statements issued within 3 months of application (most preferred) 

OR

  • Utility bills issued within 3 months of application(most preferred)

OR

  • A tax assessment issued within the year

OR

  • Tenancy contracts issued within the year with the legal name of the customer, a residential address, a date of issue, and lastly, your signature alongside the landlord’s signature

OR

  • Government Correspondence (subject to our satisfaction)

OR

  • Confirmation Letter written in English from Employer confirming your name and address printed on the company letterhead.

We do not accept any handwritten documents.

Screenshots/Print screens are allowed AS LONG AS we can verify your full name, address and date of issue.

These documents have to be submitted in FULL page; cropped documents will be rejected.

Tax assessments, tenancy contracts and letters from recognized public authorities have to be translated into English.

You can censor your bank account number and your balance.

Here is another example:


We accept JPG, GIF, PNG, or PDF formats.

Which documents should I submit?

COSS will only accept the documents that meet the following criteria:

  • Documents must be valid (please check the issue date)
  • Photos/scans of both sides of the documents should be uploaded
  • Scanned images should be in color and high resolution (at least 300 dpi)
  • Allowed formats: JPG, GIF, PNG, TIFF or PDF
  • File size should be no more than 5 MB
  • Photos/Scans should not be older than 3 months

What is my trading limit?

There is no such thing as a trading limit.

What is the difference between a limit order and a market order?

The Limit orders are executed by the trading engine automatically when the price matches; if the price does not match, the limit order may never be executed; the Market orders are executed instantly with all the available orders on the exchange. Please be careful when you are using market orders, do check the liquidity available on the pairs, if you don't know how market orders work, please research and learn before executing any market orders to avoid any loss of funds.

Why is KYC now mandatory considering that when users signed up it was under no-KYC and will you allow withdrawals without KYC

This is to ensure preparedness and being done in good faith to ensure 100% of accounts on COSS comply with AML/KYC policies and coins are being returned to their rightful owners. Withdrawals without KYC will not be possible.

Are withdrawals being processed now that the exchange has come back online

Withdrawals are being processed for users who have completed KYC, made deposits and whose in-audit balances have been cleared already.

Why are my funds still in-audit

We are completing the balance audits as quickly as possible. Our team is impacted by the current lockdowns in effect across the globe which may cause a delay

How will FSA be calculated? Will users who have not received their new login details lose their FSA as a result of the delay

FSA — from a development perspective is being built based on the previous vision of COSS with additional FSA sources from trade volume of other platforms.

When the account is activated the FSA will be counted for that account from the launch date (and not from the account activation date).

This is being done to not penalize those that have not initiated migration of their accounts.

What about my other altcoins which are currently not listed on the new platform

Assets that are not currently supported on the platform will show up on a new menu tab at a later date. From here you will be able to add an address and process a withdrawal. Just because an asset is not currently supported, does not mean it won't be added rather quickly.

Who provides the margin? Is it other users who lend the funds or is the exchange providing the margin

All funding and liquidity is provided by COSS partners, hedge funds, private investors etc. It is a part of the services we offer. Funding rates will be displayed on the fees page once it is launched

What’s our daily volume

Daily on-exchange volume will be available on CMC (and others) and a real-time value will be made visible on the exchange itself.

How are we doing on the roadmap

We are making progress despite the impact of lockdowns across our team’s locations. However, some releases scheduled for end of Q1 (June 2020) might happen earlier. We will keep you informed

Where are my coins from the previous COSS Platform

Your portfolio transfer begins with your first login.

After you login and to begin the audit process:

Click the area where it says wallets, with your current USD value in large letters (should be 0 USD initially).

Create all the wallets there. Creating the wallets will start the transfer process from your old account.

You will see “In-Audit Balance:” on these wallets after some time. It may take some time to update, don’t be alarmed

How do I trade on this platform? What happened to limit orders? What’s the difference between ‘Trade’ and ‘Exchange’ tabs

The exchange has been changed from a spot exchange (typical market, limit order against order book) to a derivatives exchange.

As a derivatives exchange, margin orders are the primary function (longs/shorts using leverage) supplemented by an instant swap function that lets you trade one asset for another at current market price instantly (essentially a market order).

With the heavy liquidity now added, instant swaps are available with little to no slippage on the price within reason.

How do I contact support

Support is now integrated into the exchange. It can be found on the left sidebar once logged in to the exchange.

What’s going on with FSA

Currently COS holders will receive 100% of fees in FSA instead of the usual 50% until the new FSA dashboard is complete (going back to 50% at that time). There is no volume counter on the exchange presently, though one would assume there hasn’t been too much activity yet with the limited number of users over the last week. Your balances are accumulating FSA since the day of launch

Why is CoinMarketCap, Delta, Blockfolio, CoinGecko etc showing 0 volume or the wrong price

Third party apps rely on the API to display their information. None of these services are working for COSS right now.

Once the API is released, these services will be able to display the data again.