Cosmo Coin (COSM) is the cryptocurrency of the Cosmochain platform, targeting consumers and content developers with cosmetic businesses. It is also used in conjunction with the South Korean beauty review dApp Cosmee. In this article, as Kriptokoin.com, “What is Cosmo Coin (COSM)?” We will answer the question. In addition, we will touch on other questions about the project.
What is Cosmo Coin? What Does COSM Do?
The “beauty ecosystem” that comes with the COSM platform creates content based on and buys cosmetics and beauty products. It was established to bring consumers together with manufacturers and brands operating in this sector.
Cosmo Coin is a main medium of exchange on the Cosmochain platform. It is also an ERC20-based token that can be traded on cryptocurrency exchanges. Participating companies can also use it as a means of payment for the use of solutions offered on the Cosmochain platform. Cosmo Coin can also be used by individual users to purchase Cosmo Power or convert it to other currencies. There is a 30-day authorization period for users who specifically request the conversion of Cosmo Power to Cosmo Coins.
The coin recently made headlines based on reports that Korean tech giant Samsung will offer support for COSM as part of the Samsung Galaxy S10 wallet. Whatever the outcome of these developments, the COSM team promises to continue to bridge the gap between the beauty community, social media and the cosmetics market to benefit all participants in their thriving ecosystem.
How Does COSM Work?
The Cosmochain Community is also known as “COSMEE”. COSMEE functions as a platform where customers can discuss cosmetics and beauty products and share their experiences. It is also a place where users can create and edit content that makes them eligible for rewards for their work. The system is paired with the dedicated reward plan. To ensure adequate decentralization, it roughly implements a model similar to that used by Steemit. Content creation processes include creating posts or videos that are relevant to the topic, with the option to up-vote posts, comment on and repost content submitted by community members.
How to Buy COSM?
First of all, users who want to invest in this project should follow the steps to open an account in one of the exchanges where the project is traded. CosmoCoin; It is traded on crypto currency exchanges such as HitBTC, KuCoin. You can own this cryptocurrency by following the steps below on any of these exchanges.
First of all, access the web/mobile application of the exchanges that list COSMO as the first step. Complete the account opening steps. Complete the authentication and approval process. Follow the deposit steps. As the last step, select the COSMO token with the balance you want and create a buy order. Store it in your trusted accounts.
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