Some qualitatively important features of the electrochemical behavior of Co(II)-based polyoxometalates (POM) are addressed by means of density functional theory and classical molecular dynamics. According to the results obtained, a subsequent oxidation of four Co(II) centers does not result in а chemical bond break, although the innersphere reorganization energy is significant. Standard electrode potentials are estimated; only the first Co(II)/Co(III) redox process seems to be feasible at usual electrochemical conditions and has a fast rate. Ion pairing in aqueous solution leads to the formation of Co4-POM/nNa+ associates (existing in both contact and solvent shared forms), which favours electron-transfer steps. The diffusion of water molecules and Na cations in two different solution regions is also investigated. Some equilibria describing initial steps of the Co4-POM degradation are modeled as well. It is shown that the polyoxometalate is the most stable in neutral aqueous solutions; the degradation becomes remarkably feasible in alkali media and a clear trend of decreasing the Co4-POM stability is observed in acid solutions. These findings are in qualitatively agreement with experiment.