COTI ( ‘Currency Of The Internet’ ) is a fintech platform that allows merchants to build their own payment solutions and digitize any currency. It will even allow governments to mint stable coins in a quick and cost effective way.
The COTI team have have numerous other projects including the likes of the first Crypto Volatility Index. COTI are also key partners of Cardano, they were responsible for developing ADA Pay and partnered on Djed which will be Cardano’s official stable coin.
The purpose of this article is to help new COTI investors to make an informed decision when choosing where to buy their tokens. The COTI Token is a low cap gem currently trading at $0.53 at the time of writing, with an overall market capitalization of approximately $456m.
An important place to start is to understand that COTI has 3 protocols: Native (COTI), ERC20 tokens which live on Ethereum and BEP20 tokens which live on the Binance Smart Chain. It is very important to know what token you are buying as listings vary from exchange to exchange. Lets look at this now.
Coinbase recently listed COTI in August 2021 however currently it is just the ERC20 version of the token available, this is also the case if you are buying COTI on Binance. This is great to see COTI available on these exchanges but if you as investor want to use your COTI for staking, earning yield, entering NFT raffles or opening a COTI Viper Wallet then you will need the COTI native token. You can buy the COTI native token currently on Kucoin, Huboi and directly from the COTI Viper wallet through the COTI-X fiat on ramp.
If you have already bought the ERC20 version of the token, there is no need to worry you will still be able to send this COTI to the COTI Viper wallet but you must first send it through the COTI Cross Chain Bridge which will exchange your ERC20 tokens to Native tokens. The downside of this is you will incur ETH gas fees for such transactions which we know can be quite expensive.
You can completely avoid this step and save on gas fees by just simply buying COTI on the COTI-X fiat on ramp which allows you to buy COTI from the COTI Viper Wallet using a Debit or Credit Card.
You currently need to have a minimum of 25,000 COTI tokens in order to earn staking rewards which may rule out may investors initially. However, COTI have recently partnered with Celsius and in the coming weeks it will be possible for COTI investors to lend out their COTI on Celsius directly from the COTI Viper wallet. The listing on Celsius will be the Native token so this is another reason to choose the Native token over the ERC20 token.