Are you looking to buy cosmos? Our comprehensive guide emphasizes how cosmos (ATOM) has revolutionized the crypto world with its modularity. Let’s explore how to purchase the native crypto, ATOM, and its unique features in this guide.
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What is Cosmos?
Cosmos is a proof-of-stake blockchain, or rather a network of blockchains, that was created with the intent to enhance interoperability between blockchains.
Jae Kwon, Ethan Buchman, and Zarko Milosevic created Cosmos. They co-founded the project and are associated with Tendermint Inc., which is the core contributor to the Cosmos network. The idea of Cosmos began to form around 2016 but gained more traction in 2017 when the project successfully raised funds via an initial coin offering (ICO).
How does Cosmos work?
As stated previously, Cosmos is a network comprised of blockchains or “zones.” At the center of these zones is the Cosmos Hub, which keeps track of the state of the other zones and facilitates inter-zone communication.
Cosmos IBC is a protocol within the cosmos ecosystem that enables different blockchains to communicate with one another. IBC allows blockchains to exchange tokens and data with each other, enabling interoperability.
Why is Cosmos popular?
During a time when blockchains were starting to pivot towards horizontal scaling and modularity, Cosmos was a breakout. Along with projects like Polkadot, Cosmos became popular for being one of the first projects to implement modularity successfully.
Cosmos vs. other cryptocurrencies
Out of the top 100 cryptocurrencies by market cap, cosmos is listed at number 25 on CoinMarketCap. Additionally, the live Cosmos price as of November 2023 is around $9, with a 24-hour trading volume of more than $139 million.
Cosmos vs. Ethereum: An ultimate comparison
Both Ethereum and Cosmos have chosen a modular approach but have implemented it in different ways. While Ethereum favors interoperable communication, Cosmos favors “intra-operable” communication in its own ecosystem.
Additionally, the security spend (transaction fees) for Ethereum is much higher than Cosmos, raking in about $1.8 billion on a 7-day average. On the other hand, Cosmos users pay less than $50,000 on a 30-day average.
As one of the few non-EVM-centric blockchains, Cosmos is one of the few projects that has been able to facilitate an ecosystem of decentralized applications (DApps). Here is a list of a few Cosmos DApps.
- Aleph.im: Infrastructure
- Arcology Network: Smart contracts
- BiDAO: Finance
- Binance Smart Chain (now BNB Chain): Blockchain
- Cosmos Gaming Hub (formerly MOLD): Games
- Desmos Network: Social
When looking for secure storage options for cosmos (ATOM), be aware that there are various cosmos wallets available on the market. Here are some to name a few:
- Keplr Wallet
- Guarda Wallet
- Math Wallet
Cosmos employs a delegated proof-of-stake (DPoS) mechanism. In other words, validators are responsible for creating new blocks and validating transactions. Cosmos has a fixed number of validators — currently 180.
This means the “top 180 performing” validators actively produce blocks and validate transactions. If you’re not running a validator, you can still participate in staking by delegating your ATOM to a chosen validator.
It is important to note that cosmos “zones” or blockchains within the cosmos ecosystem are responsible for their own consensus mechanisms, token economies, and governance structures.
Where to buy cosmos
Whenever you decide to buy ATOM, you will be happy to know that there are a plethora of exchanges that support it. Here’s our tried and tested top picks:
- Coinbase: The centralized exchange has a diverse range of crypto assets and a user-friendly interface perfect for beginners. The customer support’s round-the-clock availability is another pro in our book. We found buying cosmos with Coinbase to be an easy and intuitive experience. However, note that if you are buying just a small amount of ATOM, fees are relatively high.
- OKX: This platform comes with advanced trading options like spot trading, futures contracts, perpetual swaps, margin trades, and more. It boasts a decentralized ecosystem with support for a wide range of cryptocurrencies. We found using OKX to be straightforward, quick and easy.
- Bybit: A haven for crypto derivatives trades, it’s great for robust trading and charting tools. Additionally, Bybit has ultra-fast transaction speeds, going as high as 100K per second.
- Binance: Supports a wide range of cryptocurrency pairs, 1600+ to be precise. Binance is the largest centralized crypto exchange in the world and is one of the most trusted exchanges on the market. Buying ATOM on Binance is a seamless experience: we face minimal slippage when testing the platform thanks to the amount of buy/sell orders for the coin.
- Kraken: The commitment to adhering to regulatory standards and its dedication to transparency significantly enhance this global CEX’S reputation for reliability. The platform offers a plethora of advanced trading tools, and we have witnessed firsthand its user-friendliness and precision.
Buying and selling cosmos
If you aren’t sure how to buy or sell cosmos, follow along in this helpful guide. We will use Kraken to buy ATOM in the demonstration.
How to buy cosmos
1. Firstly, open the Kraken app and navigate to the bottom of the screen. Select the purple button with the two white arrows.
2. Secondly, select “Buy” and choose cosmos (ATOM).
3. Lastly, enter the amount you would like to purchase.
4. Finally, swipe the slider at the bottom of the screen to confirm.
How to sell cosmos
1. Firstly, open the Kraken app and select the purple button at the bottom of the screen with the white arrows.
2. Secondly, press “Sell” and select cosmos (ATOM).
3. Enter the amount you would like to sell and select “Next.”
4. Finally, swipe the slider to the right to complete your sell order.
Cosmos: Should you buy into the hype?
Now that you know how to purchase cosmos and its functionality, should you invest your time? Here’s a few more pointers highlighting the pros and cons of the Cosmos blockchain:
- Many projects have used the Cosmos SDK to build their blockchain
- Interoperable with a multitude of ecosystems
- Staking for validators and delegators
- Less composability than ethereum
- Locking/unbonding period for delegating ATOM
- High competition
Is cosmos a good investment?
Utilizing the Cosmos network could potentially be a viable option for those who are looking for alternatives to Ethereum. In terms of usage, Cosmos supports a plethora of ecosystems and receives a high amount of usage. Based on this, ATOM may be a good way to spread risk.
Price prediction for cosmos (ATOM): 2023, 2025, and 2030
If you are interested in the future price of cosmos (ATOM), check our extensive cosmos price prediction. Based on fundamentals, technical analysis, social signals, and more, our experts predict the minimum price ATOM could reach is $8.457 in 2023, $9.489 in 2025, and $46.20 in 2030. Note that the crypto market is volatile and dynamic, and no prediction can be 100% accurate.
A great way to diversify your portfolio
Cosmos stands as a testament to blockchain innovation. While some other projects might overshadow it regarding popularity, the consistent usage of Cosmos speaks volumes about its real-world value. Moreover, buying cosmos can be easily and efficiently carried out using leading and globally accessible platforms such as Binance, Coinbase, and OKX.
Frequently asked questions
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Top crypto platforms in the US | December 2023
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