COTI: another way to spend crypto with VISA
COTI - The currency of the Internet is a digital currency build especially for payments. Coti encourages trade by building trust between buyers and sellers. Its decentralized trust system assigns each buyer and seller a trust score visible to all others. Honest behaviour is rewarded and dishonest behaviour is penalized.
Bitcoin and Ethereum often lack the fast processing ability that is crucial in everyday commerce. COTI is a digital currency built to process tens of thousands of transactions per second with zero fees for buyers, low to zero fees for sellers, and full buyer protection.
COTI combines the best of traditional payment methods with the best digital currencies, providing the fastest, most cost-effective, and most reliable way to pay for anything.
COTI has received $500,000 from cFund, marking the first investment made by the venture fund backed by Cardano, the network behind the current seventh-largest cryptocurrency by market capitalization.
In July of last year, the $20 million cFund was launched between Cardano builder IOHK and Los Angeles-based Wave Financial. The aim of the fund is to grow the Cardano ecosystem, which has not kept pace with the whopping growth of its native ADA (+3.5%) token.
Both teams have worked together in the past, resulting in COTI creating the first version of ADA Pay in 2019. COTI will upgrade that for the Shelley mainnet, expected to be released on the Cardano network over the coming weeks.
COTI is a design partner of Simplex Visa, A physical and virtual debit card significantly increases the adoption of the COTI network, as merchants who are unable to accept crypto as a method of payment can now accept it as a de facto payment option, via the COTI debit card.
By using this service, COTI users will be able to store fiat natively in their COTI Pay wallet and spend their fiat balance at any merchant that accepts major cards, both online or in-store.
Via a COTI bank account, users will receive a personal IBAN that will enable the user to transfer funds to and from any bank account in the world. A user can not only send and receive fiat as they would with any other traditional bank account but will also be able to store fiat via the COTI Pay app, along with converting crypto to fiat and fiat to crypto, again, directly from the COTI Pay app. This service includes many features that are unavailable on other networks, no maximum purchase limits, 1-click buy and sell at various partners, 1-time KYC, and a variety of top-up or payment transfer methods.
The COTI debit card operates on a fiat only balance, which means that any fiat stored in the users COTI bank account is automatically accessible via the COTI debit card. Users will also be able to top up the COTI debit card directly, by simply clicking on the “Top Up” button beneath the virtual card in the COTI Pay app and selecting their top-up currency, BTC, ETH, USDT, or COTI. The fair balance of the selected cryptocurrency will be seamlessly settled and applied to both the users COTI bank account and COTI debit card. Users will also have the option of buying or selling cryptocurrency within the COTI Pay app and settling this directly to and from their COTI bank account.
When it comes to trading, buying or selling COTI, you can find it at the following exchange:
you can purchase COTI on Binance using your mobile phone or desktop. You only need to follow the step as instructed. You can receive a 25% discount on trading fees using Binance Coin (BNB) instead of cash. Use the link above for a bonus 10% discount
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