Counos Review: A Complete Crypto Ecosystem for Individuals and Businesses
Counos is a cryptocurrency ecosystem that combines the facilities of a decentralized exchange and wallet service with a variety of investment assets.
What Is Counos DEX?
Counos DEX is an Estonia-based decentralized exchange that was launched on 01/10/2019, managed and operated by Counos OÜ, a company that is registered and licensed to legally operate in the EU zone. This platform was designed to offer peer to peer and community-based decentralized trades in a secure environment that empowers all crypto traders.
The services of this exchange are available in 248 countries from all over the world. Users not only can exchange a variety of cryptos, but they can also use the common fiat currencies to buy and sell digital coins.
Counos DEX holds the FRK000735 and FVR000842 licenses, with the former allowing the company to offer virtual currency wallet services and the latter for providing crypto and fiat exchange services.
Users do not have to provide personal information to perform crypto-to-crypto trades on Counos DEX, but to convert crypto with fiat money, they must have KYC in order to protect their security and prevent any fraud and scam.
By using blockchain technology and cryptocurrencies, both individuals and businesses can be their own exchange without depending on any financial transfer or obligations from third-party middlemen, without any risk of fraud.
As a decentralized exchange, Counos DEX does not keep any of the assets of users, instead using an escrow service enabled by a MultiSig wallet (a multi-signature wallet), which limits the access to only two private key owners.
Counos DEX guarantees the safety of global online exchanges via two-factor authentication using Counos SSO (Single Sign On).
On the platform, users can trade or store with Counos Coin (CCA), Counos X, Counos E, Counos U, Bitcoin, Litecoin, and more.
Counos Escrow system uses a multi-sig wallet to prevent only one party from accessing the funds. The multi-sig wallet requires three distinct private keys to be opened, with a trusted third party, the escrow agent, keeping one key, and the other two are held by the seller and buyer.
The crypto escrow is especially helpful when a large amount of money is involved, as sellers will want to be sure that payment is made before sending their product, and the buyers will hesitate to make the payment before being sure of the deliverance. The escrow solves this situation, eliminating the risk of fraud and any uncertainties between the two transacting parties.
The Counos Escrow is available for high volume, crypto-to-crypto trading, Bitcoin OTC, real estate, and any other kind of financial transaction.
The Escrow Agents, who manage the contracts and see it to completion, are individuals and attorneys from legal firms, such as the official EU registered law firm, Gh Legal S.R.O, and Cedric Schmid, official attorney at law in Switzerland.
E-commerce businesses can use the Counos Payment Gateway to accept cryptocurrencies as payment for their goods and services. The Counos Payment Gateway works like other payment processors, allowing shoppers to choose Payment Gateway for making payments when shopping online.
Online businesses and customers can select which type of cryptocurrency they want to use with Counos Payment Gateway, letting customers choose from Counos Coin, Counos Cash, Counos E, and even cryptocurrencies such as Bitcoin, Litecoin, and Ethereum.
Users do not have to worry about their data, as no wallet information will be required or saved by the firm, nor they will be redirected to a third-party site. Sellers will also be able to settle and send receipts after the transactions have been confirmed.
Counos X (CCXX)
Counos X is a Proof of Stake cryptocurrency developed for the Counos environment, and it was designed to have a fixed bid and ask price. As the price is always constant, both retailers and consumers can safely use the coin in payments.
The proof of stake algorithm allows CCXX holders to increase their fund balance, as they receive a yearly interest of 5%. Staking Counos X for at least 6 months will generate an interest of 2%, and for three months – 0.75%. CCXX payments are settled instantly due to the platform’s integration of Lightning Network.
The coin can be converted into fiats such as USD, CHF, EUR, or other cryptocurrencies. CCXX is the first crypto coin that can be directly purchased from any local bank. Users can buy the coin from any bank by contacting the advisor and accessing Swiss ISIN.
Counos U Coin
Counos U is a bankable stablecoin that is 100% backed with USD, having a fixed value of $100. The backing system involves 4 trustees, a Swiss bank, and seven other lawyers that ensure that Counos U is 100% backed with US Dollar.
Counos U holders that stake the coin for more than a year receive a return of 3.9%. The coin can also be purchased from any bank through the Swiss ISIN, and it can also be exchanged for fiats such as USD, CHF, EUR, or other cryptos.
Counos Platform SSO account users, that deposit their Counos Coin or Counos X according to the simple staking conditions, will receive a percentage of their coins based on the period and plan they selected.
In order to stake coins and reap rewards, users will have to choose between 3-month to annual plans and store coins in special wallets that only they have access to.
Digitalization of Assets
Individuals and businesses can use the Counos Platform (Counos.io) to create their own fungible and bankable digital assets. Clients can securitize and tokenize every asset, with the platform offering issuance solutions in the following investment products: Actively Managed Certificates, Tracker Certificates, Non-bankable Assets, Private Debt, Private Equity, Real Estate, Capital Protected Notes, Credit Linked Notes, and Insurance-Linked Securities.
Counos has developed a number of wallet services, in which customers can store coins for staking or trading. The company has a web browser wallet, core wallet as well as the option of generating paper wallets. For users on the go, there is the Counos mobile wallet, which is compatible with both Android and iOS devices.
Counos is a comprehensive crypto platform that allows both individual users and businesses to invest and capitalize on crypto trading, payment integration, and staking. The exchange allows everyone from all over the world to purchase stable and secure digital coins from any bank with ease.