Trezor home
Trezor home

COTI Pay and Why You Should Consider IT

blue image of crypto altcoins with coti logo
Trezor home

COTI Pay is a revolutionary payments platform built on COTI (COTI), enabling users to engage in both traditional and decentralised finance (DeFi). COTI is a layer-1 blockchain that has developed a state-of-the-art consensus algorithm, called Proof of Trust (PoT). Compared to consensus mechanisms like Proof of Stake (PoS) and Proof of Work (PoW), PoT may lower transaction costs and enhance throughput to as much as 100,000 TPS!

Hence, the platform represents a breakthrough in digital financing and payments, powering low-cost and instant settlements and financing options, easy transactions, and acceptance of all payment methods (both online and offline). A culmination of these features results in the platform serving at the helm of a borderless global economy. Here is why the payments platform truly stands out:

COTI Pay consumer benefits

• Rapid and secure payments.

• Cashback rewards and loyalty points.

• Prepaid virtual debit card availability.

• Protection for buyer-seller transactions.

• Users may buy cryptocurrencies using credit cards.

Trezor home

COTI Pay merchant benefits

• Immediate settlements.

Low transaction costs.

• Availability of financing options.

• High-interest earnings on balances.

• No FX fees.

• Protection for buyer-seller transactions.

• Loyalty programmes and white-labelled coins.

• SDK packages and plugins.

• Wide support for both the banked and unbanked.

Setting up your COTI Pay VIPER wallet

Opening and setting up an account is fairly straightforward and I recommend following this step-by-step guide. In a nutshell, here are the steps you must follow:

• Open a COTI Payment System (CPS) account.

  1. Sign up.
  2. Verify your email address and enter your personal information.
  3. Verify your account.

• Log in to your CPS account.

  1. Set your Secret Key.
  2. A Seed phrase will be generated. Note down and secure it.
  3. Log in to your wallet using either the Secret Key or Seed phrase.

• All done! You can now generate a wallet address (as many as you require) and maintain all wallet addresses by accessing your Address Book.

COTI Pay marries traditional and decentralised finance

Note, the goal of the payments protocol is NOT to eliminate traditional finance (TradFi), but enhance it by marrying the best of DeFi to TradFi. Hence, the payments protocol enables users to enjoy the best of both worlds.

Trezor home
surajdeep singh

Author: Surajdeep Singh

Surajdeep Singh has been working in the tech sphere as a marketing guru and journalist for over 6 years, with his speciality laying in blockchain and Web3. He has donned several hats in marketing and journalism over the years and worked with many reputable brands. Feel free to reach out to him on LinkedIn!

This site uses cookies, please see ourCookie Policyfor more information.