UPDATE ON COTPS DELAYED SMS/WITHDRAWAL AND WAY FORWARD
Despite the nervousness of those who today try to withdraw their funds from the platform registered in Colorado under the name of Cryptos OTC Trading Platform Limited and cannot do so due to the failure of the system that generates automatic codes and sends them through SMS, there are very good news from what appears on the internet, elements that have made COTPS come to light and also the reliability of its operations.
Using the example published by the coindesk.com portal, cryptocurrency arbitrage operates as follows: A platform based on Artificial Intelligence allows constant purchase and sale operations of assets (cryptocurrencies). This constant operation allows selling at a higher price than the crypto is achieved in another market, generating high profitability and in a short time.
COTPs Dead Or Functional?
Thousands of people around the world are waiting to find out if COTPS was a scam, fortunately for them, there are many signs that it is not.
A failure in SMS code provider companies, together with the highly unstable market due to speculation, meant that since May 12, 2022, COTP users could not withdraw money from the platform. Faced with such a situation and given that this type of investment has lent a lot so that fraudulent companies disappear once they have been sufficiently capitalized, the networks were flooded with negative comments and investors who trusted COTP continue to spend hours of complete anguish.
Even if COTP had at this time the possibility to positively restore its service of sending SMS codes to register in the system or withdraw money, the instability caused by the panic generated by the fall of some stable cryptocurrencies, which caused several trillions of USDT (Tether) were sold after the announcement that two cryptos (Luna and UST) lost more than 80% of their value in a few hours, it would generate a wave of withdrawals and therefore, a lack of liquidity.
Some publications say that after that event, the panicked crowd sold more than 7 billion USDT (Tether), which creates a liquidity problem for any financial institution. What will happen if COTP today opens the possibility of withdrawing amid the uncertainty of the market? You don’t have to think about it too much, people who have their money there will take it out immediately at the risk of losing it, that feeling is terrifying for anyone.
Searching the web, it can be seen that indeed, the company documents exist, yes it is registered in Colorado and yes in the name of Yang Fen, as this link proves:
There are also online documents that COTP users can find on the platform and that guarantee that Cryptos OTC Trading Platform Limited is registered with the department that is responsible for endorsing institutions that operate with money in the United States.
Crypto arbitrage is a reality; the platform operates with real documents, that is, the company that created COTP exists, the system exists, apparently, it is really a situation that has to do with the failure of the company that provides the SMS messages that is already being solving and waiting for a reversal in the market that allows things to return to a positive cause.
The company assures that the system will recover its rhythm in a few hours/days.
What’s The Way Forward?
The platform has connected with new SMS operators, and SMS in various countries is gradually being restored. Some countries and regions have returned to normal. For members of countries that have not yet been restored, please wait patiently.
Considering the current state of the crypto market, it is understandable that there will be panic and when people panic, they sell of asset out of fear. We advice you don’t panic and wait it out to see what’s possible.
Comments
Post a Comment