Evan SelemaniDo you know how difficult it is to transfer assets from one blockchain to another seamlessly and securely? Since each cryptocurrency has its own protocol, the majority of them have communication problems. Cosmos solves the problem by allowing blockchains to be connected to its network to improve interoperability.
ATOM, the native currency of cosmos, gaining popularity among investors and developers. It is used for network administration and for payment of transaction fees. Although the Cosmos ecosystem is strong and secure, ATOM, on the other hand, experiences fluctuations depending on market conditions.
Is it recommended to buy ATOM crypto? If yes, how to proceed? Follow this tutorial to everything you need to know about ATOM crypto, such as the future prospects of the project, the advantages and disadvantages of investing in Atom crypto, the best platforms to stake ATOM crypto, etc.
The blockchain Cosmo: What is it?
Cosmos is a decentralized network of independent blockchains governed by the Tendermint protocol and other Byzantine fault tolerance algorithms. In a nutshell, the Cosmos ecosystem allows different blockchains to communicate with each other.
So, Cosmos uses the Tendrement protocols and for this, its slogan is "the Internet of blockchains". This means that it offers features so that independent blockchains can easily communicate with each other. Cosmos is in this sense, a blockchain network.
Cosmos is aimed more at blockchain developers. It offers them the necessary infrastructure so that they can easily create their own blockchain.
How does Cosmos (ATOM) work?
The Cosmos protocol is based on three layers:
- The Tendemint core: A software implementation that includes the Tendermint BFT algorithm and the Interblockchain Communication (IBC) protocol.
- Blockchain Interface (ABCI) application: It allows replication Decentralized Dapps in a variety of programming languages. Indeed, developers can develop an application in several programming languages.
- Cosmos SDKs: An application layer that provides developers with the most common blockchain features, such as governance, tokenization, and staking. Developers are free to add other additional features by creating various plugins.
What are the advantages of Cosmos?
Using the Cosmos SDK, blockchain developers can create powerful and efficient decentralized applications.
With the lowest transaction fees on the market of $0,01. Likewise, in terms of speed, transactions are confirmed in around 7 seconds.
What are the future prospects for ATOM crypto?
Cosmos was launched on January 1, 2017 at a price of 0,10 EUR during its initial sale. It displays today a performance rate of 9100%. However, compared to its all-time high of 44 Euros, it is down 79%. Is this an opportunity to buy at such a low price and hope for a significant return in the years to come?
For those who believe in the project, seeing Atom oscillate between 5 and 10 euros is a real opportunity. However, before investing in Cosmos cryptocurrency, it is essential to understand that no matter the investment, the risk of losing is present.
After considering the many risks associated with purchasing Atom tokens (which we list a little further down), the investor may resort to an investment strategy known as DCA (Dollar Cost Averaging). This is a long-term strategy where the investor decides to regularly purchase small amounts of assets over a certain period of time, regardless of the price.
Where to buy Cosmos (ATOM) crypto safely
It must be said that the cryptocurrency industry is evolving at a rapid pace. New use cases continue to encroach on the industry, encouraging various vendors to facilitate converting fiat currency into cryptocurrencies.
There are already several platforms in the market that provide these services. However, some are less trustworthy than others. This is why it is essential to use a known, secure platform that offers interesting features.
This is how we compared the most popular platforms in the sector, and our recommendation is Binance, the leader in the cryptocurrency market.
Buy Cosmos (ATOM) crypto on Binance
Binance made its market debut in 2017 in prodigious rise. It has become the leading exchange platform in terms of volume.
At the end of 2017, Binance already had 10 million users. Today, it claims the position of market leader with 90 millions of users et over 500 cryptocurrencies availables.
Besides this, users are attracted by the many features of Binance, which include peer-to-peer (P2P), Staking, leveraged trading, cryptocurrency lending, and a variety of other options.
—> Read our article: Here's how to get rich on Binance (without trading).
👉 How buy crypto ATOM (COMOS):
No need for a guide to buy ATOM crypto on Binance. The interface is intuitive. Once the account is created, before purchasing crypto ATOM first of all it is important to provide additional information (country, identity card, proof of residence) in order to fight against illegal activities.
The user can then buy ATOM crypto by following the steps below :
- Complete your email address or phone number
- Enter Your password and accept the terms of use
- Click on 'Register'
- Validate your email by clicking on the link sent in your email.
- Click on the tab “Buy cryptos”
- Choose a payment method (e.g. credit card). You can buy cryptocurrencies with different methods: bank transfer, payment by credit card, etc.
- Accounts Manager Cosmos (ATOM) among the assets.
How to Stake Cosmos ?
Cosmos staking is an operation which consists of hoard ATOM tokens (agreeing not to exchange or sell them) in order to secure the Cosmos network et to obtain new tokens as rewards.
Currently, staking platforms abound on the web. Some offer large returns in order to attract investors and disappear with their money, while others offer serious services.
It is therefore important to be too careful with the chosen platform. We have compared several platforms to present to you two safe and profitable staking platforms in 2022.
🔥 Earn 8% interest on Youholder
Youholder is a platform allowing its users to earn interest on deposited cryptos, to obtain loans, buy and sell cryptocurrencies.
It is one of the most popular marketplace platforms. The platform offers a wide range of assets, including Cosmos.r It pays up to 8% per year on ATOM deposits. If you want to join the adventure, click here to begin.
🔥 Mycontainer: Best staking platform for beginners
MyContainer is a platform that allows you to stake more than 100 coins cryptocurrencies that use the Proof-of-Stake consensus mechanism. This is the case of Cosmos (ATOM) which appears on this list.
One of the great qualities of this platform is that it is not complicated to use. Just deposit tokens or buy them and start earning instantly. Additionally, rewards are generated daily and User is free to withdraw at any time.
MyContainer also has other features such as exchanging Cosmos tokens at a best market rate.
—-> Discover the MyContainer platform.
🔥 Staking on the Keplr wallet with 19% APR (experienced method)
There is a crypto wallet adapted to the Cosmos network called Kepler. You can download the app and extension for your browser.
It is a complete wallet on which you can stake and you can also participate in voting on important decisions. By the way, you can use Keplr for other Cosmos networks like Secret network for example.
If you are staking on Keplr, be aware that the APR rate is 19,9% right now. To do this, all you have to do is send ATOM tokens to your wallet. Next, choose a validator and your ATOM staking will begin immediately.
What is the best wallet to store Cosmos (ATOM)?
Using ATOM on a daily basis requires having a software wallet for storing, sending and receiving funds. Currently, there are several wallets available that support Cosmos (ATOM).
For this we recommend the Keplr wallet that we mentioned above. However, you also have other possibilities. With the Keplr wallet, you will then have the benefit of a decentralized wallet.
Some wallets emphasize ease of use by using the phone or computer as a medium, while others prefer security by opting for a medium that does not connect to the internet. Cosmos is compatible with all types of wallets.
Which wallet is suitable for using Cosmos?
👛 Cold Wallet or Hardware Wallet
This is a support that allows you to store your cryptocurrencies offline, thus keeping pirates at bay. This is the most recommended solution for storing large sums of money. The support costs between 50 and 100 euros. Ledger, and safepal are two examples. With the wallet ledger, it is also possible to do staking.
Hot Wallet or Software Wallet
This is an application or website that allows you to store cryptocurrencies on your computer or smartphone. To use it, simply download it for free and configure it.
Given the constant attacks in the crypto world, it is recommended to use these types of wallets for small amounts. Let's take the example of Metamask and Trust Wallet.
—-> Read our article to understand the different types of crypto wallets.
Should you invest in Cosmos (Atom) crypto?
The Cosmos blockchain differs from other blockchains in that it allow you to interact with several other applications and cryptocurrencies in a decentralized manner. In fact, many analysts believe it is a good investment for years to come.
However, keep in mind that nothing is ever certain in the market. It is important to take into account the different risks before deciding to invest in the Cosmos. The pros and cons of investing in ATOM cryptocurrency are listed below.
Benefits
- Cosmos connects independent blockchains to a “Hub” chain
- Cosmos allows developers to focus on development rather than the underlying protocol
- Cosmos allows you to build personalized blockchains
- Cosmos promotes interoperability between different blockchains
- Byzantine fault tolerance helps create an additional layer of security
- Cosmos allows you to develop decentralized applications.
Drawbacks
- The founding team separated, creating internal conflicts.
- The market is characterized by high volatility
- Competition is tough in the blockchain sector.
How to buy ATOM crypto on platforms without KYC?
In most cases, purchasing Cosmos cryptocurrency requires going through an intermediary, which requires identity verification. However, when a user enters personal information on a platform, it directly associates their name with a crypto address when withdrawing funds. There is therefore a risk for the user's privacy.
Here are the different alternatives to buy ATOM anonymously:
- Use a decentralized platform (Dex)
- Buy Atom tokens on a peer-to-peer (P2P) platform. LocalBitcoin is an example.
- Accept payments in ATOM tokens in your businesses.
Conclusion
Cosmos continues its goal of becoming the internet of blockchains. He has made a name for himself in the ecosystem by solving some problems that many blockchain projects face today. Additionally, Cosmos consensus allows millions of transactions to be processed without compromising security.
ATOM is valuable because it is essential to use various services of the Cosmos network. This is why many investors are attracted to this cryptocurrency; do you want to be part of it? It’s simply a matter of going through a reputable exchange platform.
FAQ: Buying Cosmos crypto
How to buy Cosmos (ATOM) crypto?
To buy ATOM crypto, you must first go to a reputable platform like Binance, open an account, make a deposit, and then make the purchase.
What was the lowest price of ATOM crypto?
The lowest price of the Atom crypto was back when it was initially sold (ICO), where the price was 0.10 euros.
What was the highest price of ATOM crypto?
The highest price for the ATOM cryptocurrency was reached on January 7, 2022 around 44 euros. At the time of writing this article, the ATOM token is worth $10.
Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.
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