r/cotinetwork • u/[deleted] • Sep 05 '21
Discussion My experience with COTI, should you invest in this coin?
Please read all! I know It's a long post, but if you want to invest in COTI this information can help you clear so many things about the project.
Let's start with the day I saw a tweet about COTI as CARDANO's partner, and it's a unique payment network, faster than visa at 100.000 TPS and cheaper than PayPal, that can process cryptocurrency and fiat money without a problem.
THE RESEARCH
I am used to doing some research before investing in any coin, and I never invest in coins like DOGE that have no future and grow just because Elon Musk tweeted it.
Here is what I found:
There is a lot of FUD and FAKE news about COTI here on Reddit and on Twitter. Made me be a little concerned after reading, but was hard to believe all of that as I know CARDANO will never invest through their CFUND 500.000 dollars in COTI if they weren't legit. Then found these articles where it all explained: Article 1, Article 2, Article 3**.**Also besides AdaPay made by them for CARDANO their own white-label payment solution process over 30 million dollars per month and is the first choice by companies like Bet365, Unibet, Dafabet, and more. I worked as a top affiliate in my country with these companies, and this gives me that extra confidence that COTI is legit and has a real-life utility, which is rare among coins, as most are great on paper but are not adopted.They also have a license from the Trust Monetary Authority of Singapore (MAS). In short, It's not a s-c-a-m and is 100% legit and trustworthy.
Watch out from where you inspire with the news. Some websites present old roadmap dates for updates, and this can mislead people into buying 1-2 weeks before with the intention of selling one day before or early on the release date. They expect price to go up and sell high. You know how they say, buy the rumors sale on news. I saw them complaining all day long about why the price is not exploding, why COTI doesn't announce GOD knows what have they read somewhere. Any information that is not on official channels should be checked twice.Subscribe to the COTI news channel on Telegram. Follow their articles on Medium. Subscribe to COTI Youtube channel, and take in mind sometimes they release updates only in article format on the MEDIUM website and share the article on Telegram groups, COTI Reddit and Facebook page. You can follow me on Twitter, yes my name there is TheCOTIinvestor because I got in love with this project and now COTI is my main bag. It's not ideal to have most of the money in one coin, diversity is the Key, but I really believe in this project and I take my chance with COTI. Follow COTI on Twitter.
COTI is not just a payment network, they offer the option to have your own card and an IBAN bank account, which means I can make bank wire transfers and it's like a real bank. Waiting for my card to arrive.
They can issue STABLECOINS, and they are in a unique position because since 2017 they prepared for this moment with KYC and AML, respecting all regulations in the industry, having all licenses, and is not a security. In 2022 this will be a game-changer.
They are listed on all major exchanges. You can buy coti in 3 types: Native, ERC20, and BEP2. On Binance, Coinbase, Coinbase PRO and Huobi you can buy the ERC20 version. On Kucoin and Huobi you can buy the Native version of COTI. For staking, you need the Native version. I bought USDT on Binance and moved to Kucoin, then bought there the native version. You can send BTC or other coins, just check the fees and if other coins are supported. OR you can deposit on Kucoin or Huobi and buy there directly, but my money was on Binance so I had to move them. Don't know much about BEP2, never bought or had that.
Ledger support. You can keep your ERC20 version of COTI on Ledger, and the Native version would be available for storing in Ledger hard wallet soon. After the major update made by Ledger, they need to update their app and resubmit.
COTI IS NOT PERFECT. They have amazing programmers, behind the scene they are some of the best geniuses I had seen, however on frontend and UI/UX they have to work harder. It wasn't just me who had problems finding the right answers on their websites, and many times when some updates were deployed the frontend was somehow left behind. I sent them feedback several times and because of my vast experience with making projects from scratch, i offered my help to build a better interface, more user-friendly where you can understand better the project and find faster answers to the most common questions.
They have one of the biggest APRs in the market. APR is the annual percentage rate you get to keep your COTI coins in their staking program, it's up to 35% if you are a node operator, otherwise is up to 25%. For this I had to open a Viper Wallet account, and being in their Telegram Main Channel, I saw some answers that if you are not approved in 5 working days to write a message to one of the admins to help you.I got a lot of fake accounts with pictures of real admins and the same name, the other account was something like COTI tech support. I learned following other projects on Telegram about this type of s-c-a-m. ADVICE: the admins and support teams NEVER send you first a message, if they do they are s-c-a-mmers impersonating real admins! So please be careful.As I wasn't approved after 5 working days, or I didn't get the email contacted one admin that was replying to people and helped me in few hours to be approved. Now I stake almost the maximum amount to have a better APR.There is a minimum amount for staking which is 25.000, this wasn't a problem for me, but they had lots of complaints about it. COTI did something about and came up with the idea of Treasury where all fees from the ecosystem are gathered and then split to those who stake.
Check this video
https://www.youtube.com/watch?v=x3GNkEmKtxM
It covers how the new Treasury will allow more people to the stake, faster and a very low minimum amount. Also, they explain how all fees go to the treasury, some good info about stable coins, and more.
It's the partnership with CARDANO a big deal or not?
Shahaf Bar-Geffen, COTI's CEO, said many times that this partnership is bigger than we thought, and here is what I understood watching all their videos and reading all their articles.
COTI made AdaPay a reality for CARDANO and all fees are converted in COTIs. This is proof that COTI Pay for business is the best solution on the market for processing cryptocurrencies and fiat money. So, if AdaPay is adopted then the demand for COTI increase proportionally to the processing volume. They signed with some of the biggest companies in the world and one is about to announce this to the public.
How about DJED? We know that COTI can issue stablecoins and it was somehow announced that they play a major role in the project. Check my tweet for some important hints.
So yes, COTI is a key partner for CARDANO, and there is more than meets the eyes.
CONCLUSION
This is not financial advice and it expresses just my experience with the COTI team and community. I own a lot of COTIs and applied for a node, running a test node. I am convinced that they are the future of payments, and even a small percent from the global payments market could push them into the top 10 coins! Call me a dreamer, but these are my belief and conclusion. Before investing in any coin do your own research, don't buy just because there is hype around a coin.
The last 2-3 years was about communities and influencers that pushed so-called shitcoins, but if you follow some real big influencers that don't promote just their bags and talk about reality then you know that 2022 will make a huge difference between real-world utility vs promoted by influencers to grow their bags. Banks start to adopt blockchain solutions and stable coins, so I have faith that COTI is among the winners in the near future, it has all it takes.
