8th May 2018 update
COSS.IO
Dear members of the community,
- Updates from Tech
- Fiat promo
- Other promos
- Office tour
- A note about KYC
- Tester updates
- Coss party
This week we have some updates from Tech on the new UI.
We are in the last stretch of our UI release schedule! We are now undergoing final testing, and if all goes well, we will be aiming to release it next week.
Here’s a sneak preview:
FIAT promo
As mentioned before, we are kicking off our FIAT promo! The details of the promo has changed from the first time it was announced.
From Wednesday, 9th of May, to Wednesday, 4th of July, every successful USD deposit to your COSS account will stand a chance to win in this promo.
Two lucky winners every week will win 1000 COSS tokens.
Do note that a week will be counted starting from every Wednesday to Tuesday, and winnings will be distributed every Wednesday.
Your entry date into the promo will be counted as the date your deposit gets credited into your COSS account.
Coins, Promos and ICO
We are pleased to announce that Wisepass is conducting their ICO exclusively on COSS.io, with the Pre-sale starting on the 10th of May. Wisepass is a Singapore based lifestyle platform that offers members access to a variety of quality lifestyle services. See you at the presale!
Freelance (LAN) and Verify (CRED) trading pairs are now live and trading on our exchange.
Credits (CS) is also scheduled to be listed on COSS later today.
Don’t forget our on-going promos :
Office Tour
As frequently requested, our Community Manager has done a tour of our office. Please see our Youtube link below.
A note about KYC
We are pleased to report that there has been a sharp increase in the number of people applying for, and getting approved by our new KYC procedures. We want to take this opportunity to thank everyone for following our guidelines, and we appreciate the feedback that you have given us. We have received feedback that successful applications took less than two days, from start to finish.
When it comes to KYC, the community has been vocal in their feedback. While we understand many of the community’s difficulties, please allow us to explain.
Our old KYC procedures were adequate for their purposes at the time when they were implemented. As governments around the world- not just Singapore- become more and more aware of cryptocurrencies, new and stricter regulations were put in place to safeguard the public.
We made the choice to embrace regulations instead of going the other route, which was to shift our operations to looser, more unregulated jurisdictions.
“Which was why we had to introduce our new KYC procedures.”
We made the choice to be compliant with the authorities because we want to make sure that you are protected under these regulations when you use our platform.
Here’s a quote from a recent Bloomberg article :
The benefits of regulation are clear. An appropriate framework would serve to both protect consumers, and ensure the longevity and legitimacy of the industry itself,” Gandham said.
Potential rules “would need to focus on those crypto organizations that interact with consumers — the ‘on-’ and ‘off-’ ramps between fiat and cryptocurrencies. You can look at Japan to see how this might work.
We invite you to read up on the full article :
“How would KYC protect you, as a user of COSS? “
It would prevent the exchange from being used, intentional or otherwise, by criminal elements for money laundering activities. A scenario where COSS gets shut down by authorities because of suspected money laundering activities is not a scenario that anyone wants.
By getting everyone onto the new KYC procedures, you will be able to trade with greater peace of mind.
Tester updates
The NDA for our testers is complete! Please go to this link to sign up.
COSS party
Do remember to RSVP for the COSS party this June. The sign-up URL is https://goo.gl/forms/3oyEwDS8OGAQvSb13
We hope to see you there!
About Us : COSS stands for Crypto-One-Stop-Solution and represents a platform, which encompasses all features of a digital economical system based on cryptocurrency. The COSS system consists of a payment gateway / POS, an exchange, a merchant list, market cap rankings, a marketplace, an e-wallet, various coin facilities and a mobile platform. The COSS platform unifies all transactional aspects that are usually managed by means of FIAT money, and offers multiple cryptocurrency-related services in one place. The list of potential features of the platform can be infinitely extended, and will continue growing as the platform evolves.
Join in the community at our various channels :
- Telegram Announcement Channel : https://t.me/COSSchat
- Telegram General Discussion Channel https://t.me/myCOSS
- Facebook : https://www.facebook.com/cosscrypto/
- Twitter : https://twitter.com/cosscrypto?lang=en
- Reddit : https://www.reddit.com/r/CossIO/
- YouTube : https://goo.gl/hd6tBg
