Hey guys! This post is just to share my personal story, this is NOT investment advice nor should you let it influence your investment positively nor negatively, remember to do your own research!

If you've been following my posts, you'll know that I've been heavily invested in COSS (about 80% of my portfolio) for the last few months. Since then, COSS went from $2.30 (buy in) to almost $3.00 back to $0.16 and now around $0.30.

Of course I dollar cost averaged down, but only down to around $1.30 so I'm still heavily in the negative. I also lost about 5% of my stack day trading during the promo so COSS has been a very bad investment personally.

Why I sold:

Wash trading during their trading promo

I was very excited for this trading promo. I was within the top 10 for a few weeks, hitting rank 2 for a day near the start but soon fell to around top 20, then top 30 then top 40. I wished to maintain top 50 by the end of the trading competition but in the last few days, I fell from around 42 to 79 before trading heaps to get back to 72, not making it within top 70. I was very sad about this and made me lose a lot of faith in the company as it showed they did not value ethical trading, which happens on every exchange of course. I wouldn't be so salty if I wasn't personally affected so badly but I was, which is why I was so salty!!

They claimed that they can't do an audit due to lack of resources, but I remember seeing a Reddit post where even members of the community using only exchange and leaderboard information managed to find clusters of wash traders. It wouldn't have been too hard to remove volume from wash traders, but they chose not to as the community preferred it this way. More volume = more money from the FSA!

Honestly, if I WASN'T a part of the trading promo, I too would've preferred them to NOT do an audit so they can focus full force on KYC, new UI and fiat trading. However, losing a few thousand dollars while others gained tens of thousands at my and other ethical traders' expense hurt me quite deep.

New KYC

If you're new to COSS, you MUST have KYC even for crypto to crypto trading was what they originally announced. I'm not sure what their updated stance is but that's what they originally announced. This made me feel terrible as it meant people would have to wait likely weeks to trade crypto to crypto, if a new coin was on COSS that was getting pumped. Furthermore, KYC is english only, meaning COSS would be sealing trading away from MANY other investors, mainly Asian ones.

This meant that volume would NOT pick up, as it would take ages for new users to come in and do their verification process, and the whole point of the token is to collect fees which needs volume.

This meant that if I were to keep COSS, I'd be playing the super long game, like many more months, maybe years. I was not keen to do this as I've already missed out on so many opportunities hodling 80% of my portfolio (I admit, I should've invested less) in one coin.

KYC released without proper documentation

Basically, the front end team released KYC option without the legal team completing the actual necessary documents required for KYC, so people who tried to apply for KYC had no idea what to submit for the first day or two.

This may not be super bad, but it showed that the team didn't communicate properly. This would NOT have happened on a big exchange like Binance or something. I understand COSS is still small, with a lot of room to grow which is why their market cap is so small, but to me it just didn't indicate a very bright future if the departments couldn't co-ordinate the most anticipated feature in their company's history so far.

Still sometimes buggy exchange

Their whole exchange is quite smooth and fast now! But trading frequently, I still get the error where I can't cancel an order or can't make an order unless I refresh. Also, when I press max buy or max sell, it often comes up with insufficient balance which is quite annoying. These small things really hurt the QoL of a user and should be quite easy to fix

No API not any info regarding API

This is a big reason for the lack of volume and liquidity. I am very impressed by @spielley who managed to actually create a bot that helps liquidity but it isn't enough. I'm sure as soon as the API comes out, volume will be there but I'm tired of living in uncertainty.

Personal COSS Finances

• First bought around $2.40
• Bought more around $1.00
• Bought more around $0.50
• Bought more around $0.36
• At the end dollar cost averaged down to around $1.30
• Finally sold all of it at around $0.28-$0.30 (few days ago)
• Bought all back in at around $0.23 (pretty much the very bottom of the coss/btc charts)
• Sold all again around $0.30-$0.33 for eth and btc
• Overall I calculate I lost around 70% of my total initial investments which was around $100,000 (just under $100k I think)

Farewell COSS

I have had a LOT of participation in a lot of discussions regarding COSS. I have made well over probably 20 articles and probably over 100 comments on Reddit and many posts on the cossio subreddit. I wish you guys all the best because the community is one of the best I've seen, and you guys deserve to moon. But for now for me, I'm done.

All the best guys!