COSS token holding review
Month ago I wrote article about COSS -
https://steemit.com/cryptocurrency/@cicbar/coss
I have invested in COSS and i want to share my experience after few months of holding COSS token.
If you hold COSS token, as holder you will receive share of profit from the https://coss.io/
COSS
COSS is token that on a paper looks great. It will keep share percentage of 50% forever. In the future it will share fee from Coss payment gateway and Coss merchants. This month fiat deposits should be implemented.
Future looks bright if all promises are realized but present is far,far from that...
First of all, beside all effort that Coss team is giving ,exchange volume is not growing. It is around 1 million USD with some daily jumps to 2-3 million USD. If they realize fiat deposits implementation this month we could finally see some some real volume growth.
Most of trading volume comes from COSS trading pairs. You can not buy all top coins like NEO, XRP, IOTA, ADA... From top 10 current coins you can trade only 5: BTC, ETH, LTC, BCH and EOS. Their plan is to raise volume with small cap coins.
I don't like that and beside not being able to trade best coins at market, you are receiving fee split from dozens of useless small cap coins. Maybe some of them will become successful but most of them will not, so you are basically receiving worthless coins.
Fee split is paid only in ETH based coins so if you receive fee from BTC trading, you will not get BTC, you need to convert BTC to ETH to receive your fee split.
Worst thing is that you need to pay fee of 0.001 ETH to transfer fee split to your wallet. With latest fork of COSS that happened at 4.3.2018. fee decreased from 0.002 ETH to 0.001 ETH. This is is still incredibly high, because you are basically receiving dust. To reach amount more than 1 USD, which is fee transfer price, you should wait for a long time.
At moment here is how much you can earn from holding 1000 COSS:
Total current monthly earnings from holding COSS is around 2 USD from all different coins and you have to pay 1 USD to transfer just one coin... Terrible... Even if you hold larger amount of COSS, for example 10000, you still wouldn't be able to transfer monthly earnings to your wallet at profit. Yearly yield of 4.71% is not correct because it doesn't count 0.001ETH fee that you have to pay to get your assets. With this fee included in calculation, yield would be almost 0%.
After all that I wrote, obviously my investment at moment is very bad but I will not sell my COSS tokens. If you want to earn quick money or if you want some investment that will give you reasonable passive income then COSS is not for you.
I have invested in future and if they fulfill all promises then my investment will have sense and price and dividends of COSS will grow lot. I have invested amount of money that I can afford to loose so present situation is not problem for me.
I am patient guy and I my plan is to forget about this tokens for few years and then we will see was my investment good or bad.
This is not investment advice, this is only my opinion and if you want to invest in COSS you should do your own research.