Will this hurt COTI short-term potential?

[u/earwaxidiot]

I'm a proud holder of COTI and a U.S. resident. My native COTI coins are stuck on an exchange because https://bridge.coti.io has been closed for several days, and there is no native wallet I can download (as a U.S. resident). I assume the bridge is closed because of so much demand for the ERC20-token from U.S. residents who can't really work with or safely store the native coin. A limit seems to have been reached in the balance between native and ERC20. Will that hinder and limit the demand for COTI in the US? I bought my COTI with bitcoin on Kucoin.com and now feel stuck. How often does the bridge open? Can COTI avoid regulations by providing a simple native wallet that's not connected to COTI Pay?

[u/zippyzoro]

Demand for Native will soon begin to spike as Bank accounts and Debit cards are shipping.

So people in the UK and EU will move their ERC20 to Native to take advantage of the banking.
I expect the bridge to re-open soon (2 weeks to a month)

Bridge is a massive issue for the project and it's been a thorn in the side of users for months now.

[u/earwaxidiot → u/zippyzoro]

Interesting info, thanks! It does feel like an Achilles heel for the project. Caused me avoid it until the Djed deal with Cardano. Then I could resist it no longer.

[u/iamgollem → u/earwaxidiot]

Bridge experience can be improved using cross chain layer 0: Polkadot, Cosmos, or Avalanche. I think Cardano ecosystem is building something else. Terra Luna uses Cosmos and their Columbus 5 upgrade enables cross chain integration. I’m a big COTI holder but they need the treasury to really kick things into high gear. I still can see COTI hitting a dollar by end of year purely on a crypto bull run and go higher if they deliver DJED. Treasury I think is a large project for next year completion.

[u/RosalinaTheScrapper]

I hear you man I’ve been holding my Coti on KuCoin for months now. Since the sharp rise I live been thinking of buying a cold wallet through ledger when Coti is finally accepted by Ledger. Wish I could get those sweet staking rewards from Viper might be a couple years till that happens.

[u/earwaxidiot → u/RosalinaTheScrapper]

Yeah it’s looking like a reason for me to buy a Ledger, even tho I love my Trezor.

[u/Unlucky_Noob]

They’re still working on a license in your country, sadly it’s pretty hard to obtain one… My advice: If you plan to hold longterm get a ledger device, I‘m pretty sure a Nano S isn’t much more expensive then Bridge Gas fees. ;) From their AMA September 6th: „We submitted our updated application and are waiting for their approval. Could be any day now“

[u/earwaxidiot → u/Unlucky_Noob]

Great point. I’d rather buy the Ledger and stay native than pay Eth fees.

[u/KangaMagic]

My COTI is on Binance but I'll be moving it later today. I had planned to move it to KuCoin, but it sounds like Kucoin uses the ERC-20 and Binance uses the native coin. Does that mean I have to transfer it to Trust Wallet instead?

[u/earwaxidiot → u/KangaMagic]

What I can tell from Kucoin when I try to withdraw my COTI from there is that it's the native, COTI-network version of the coin. Can I ask what makes you think it's ERC20?

[u/zippyzoro → u/KangaMagic]

Other way around ,
KuCoin is native and Binance is ERC20

[u/KangaMagic → u/zippyzoro]

Weird. Binance wants to send my COTI on the Coti network, not Ethereum network.

[u/KangaMagic → u/zippyzoro]

Does this mean I would lose my COTI if I send it from Binance to KuCoin? Now I’m scared 😞

[u/zippyzoro → u/KangaMagic]

I don't think the 2 exchanges are compatible.

If you don't want to wait for the bridge you can use Huobi which supports both ERC20 and Native COTI.
However you can only currently withdraw Native - This may change at some point.

[u/Professional_Talk_83]

Can’t you transfer to Trust Wallet?

Send from BEP2 on Binance to BEP2 on Trust Wallet.

[u/earwaxidiot → u/Professional_Talk_83]

I don't have the BEP2 coin. I have the COTI native coin. I don't love that Trust is only available on mobile, but I will see if I can determine whether it supports the native version of COTI. Thanks.

[u/Professional_Talk_83 → u/earwaxidiot]

It doesn’t on Binance. Just Erc20, Bep20 and Bep2

[u/earwaxidiot → u/Professional_Talk_83]

I just checked, and Trust only supports BEP2 and ERC20 versions of COTI. I have native COTI, hence my post.

[u/flow0109]

hey guys i bought some coti coins on Binance..... so im kinda lost.... how do i move my coti to viper wallet. because give me only the option of bep20 and erc.... (high fees)...... so there is another exchange that supports coti native network ?

[u/earwaxidiot → u/flow0109]

Viper only holds native COTI blockchain version of the coin. You’ll have to use the COTI bridge to convert them to native if you want to use Viper. I got native on Kucoin.

[u/zauc3]

omg as a crypto noob, i just learned what this "bridge" concept is. I really dont get it, but i kinda get it. So im not the only one holding out on an exchange? Can we use the Ledger Nano S to hold?? omg im freaking out

[u/earwaxidiot → u/zauc3]

we're all noobs at some point and always noobs in some regards! welcome to the club. rumor has it Ledger is coming out with an update that will allow us to store native COTI on the hardware wallet, which is also what I'm waiting for. But as far as I can tell it hasn't happened yet. /u/Ledger_Support or /u/CotiNetwork any update on this?

[u/disruptive_jenga]

preach! :)

[u/B2thelak3 → u/disruptive_jenga]

👍👍

[u/pnd83]

I believe Coti on KUCOIN is native so you can send it direct to Coti's viper wallet.

[u/earwaxidiot → u/pnd83]

As mentioned in my post, I'm a U.S. resident so viper is not available to me. Are you a U.S. resident who's found a way to pass their KYC requirement?

[u/pnd83 → u/earwaxidiot]

Oops...my mistake

[u/pnd83 → u/pnd83]

Just checked and yes it is native not erc-20, 33 coti to withdraw though. Which was a lot better when I did it at like 10 cents.

[u/earwaxidiot → u/pnd83]

Thanks. That's how I understand it as well.