The Cosmos (ATOM) network is a decentralized platform that aims to solve some of the biggest problems of modern blockchains. Through Cosmos, blockchains and decentralized apps can grow continuously. Cosmos’ usefulness led crypto users to ask questions like “how to buy Cosmos (ATOM)” and “where to buy Cosmos.”
If you want to buy Cosmos (ATOM) but don’t know where to start, you will learn a lot from this article. We’ll cover the fundamental steps of buying ATOM, as well as some essential topics about the token.
Cosmos (ATOM) Buying Guide
Step 1: Find An Exchange That Supports ATOM
To start buying ATOM, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support ATOM.
Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.
- 500+ Cryptocurrencies Available for Trade
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- Available in Europe, Asia, Oceania, Africa
- 300+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.020%*-0.070%*
- Sign-up bonus: 5% reduced trading fees*
- Available in Europe, Asia, Oceania, Africa
- 1500+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.2%*-0.2%*
- 10% reduced trading fees & up to $170 in USDT vouchers*
- Available in North America, South America, Europe, Asia, Oceania, Africa
Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification.
You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.
Step 2: Deposit Funds to Your Exchange Account
Before buying ATOM, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.
Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.
Step 3: How to Buy ATOM Officially?
Learning how to buy ATOM is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the ATOM ticker. You can also look directly for ATOM trading pairs to save time. Afterwards, just enter the amount of the ATOMtokens that you want to buy.
You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.
Everything You Have to Know About Cosmos (ATOM)
Cosmos is a reliable multi-chain network loaded with functions that can ease the process of building blockchains, systems, and DApps (decentralized apps). By utilizing a central hub that connects all zones (blockchains), Cosmos managed to form a strong multi-connection framework with remarkable transaction finality.
These are some of the capabilities of Cosmos:
- Nearly limitless blockchain and decentralized app creation
- Great level of autonomy among apps and blockchains
- Dynamic, responsive governance system
- Decentralized social network
- Marketplace creation
- Liquidity creation
- DeFi games
- NFT metaverses
The Cosmos platform is currently being improved to match the demand of thousands of Web3 enthusiasts and cryptocurrency investors. In the coming months, Cosmos might have more functionalities and even additional liquidity investment options.
How Does ATOM Work?
ATOM, the native token of Cosmos, is primarily used for staking. Once you’ve staked ATOM tokens, you can gain rewards over time. The reward allocation depends on the number of tokens staked and the performance of validators.
What Makes Cosmos (ATOM) Unique?
Cosmos is one of the forerunners of a blockchain-powered Internet. Through advanced systems and zone-based operations, Cosmos managed to create a sandbox of possibilities for developers and blockchain creators.
One unique feature of Cosmos is the implementation of the Cosmos Hub. The Hub acts like a central beacon that connects all blockchains and decentralized apps. This functionality wouldn’t be possible without the IBC (Inter-blockchain communication) system.
Cosmos also has low transaction fees throughout the network. These ‘almost-zero fees’ are crucial to the continuous growth of the Cosmos platform.
Who Are the Founders of Cosmos (ATOM)?
The founders of Cosmos are Jae Kwon, Zarko Milosevic, and Ethan Buchman. These individuals have used their skills and experience to develop Cosmos into a thriving platform with dozens of use cases and functionalities.
What Are the Use Cases of Cosmos (ATOM)?
Cosmos is a stable, fast-growing network that offers different types of use cases. Understanding these use cases will help you determine the long-term value and potential of Cosmos (ATOM).
Here are the common use cases of ATOM:
- Speculative trading
- Decentralized exchange asset
- Cryptocurrency asset bridging
- Token management through Cosmos Hub
- Blockchain scaling solutions
- Decentralized app integration
- ATOM staking and governance
- ATOM incentives
Who Builds on Cosmos (ATOM)?
The Cosmos platform is meant for developers, blockchain creators, project builders, traders, and long-term investors. Cosmos guarantees greater efficiency, speed, and scalability for everyone in the network. Plus, the Cosmos community is always thriving with new ideas and platform discussions.
Official website: https://cosmos.network/
Essential Points of the Cosmos (ATOM) Whitepaper
The Cosmos Whitepaper discussed the common problems of modern blockchains. Some of the interesting topics covered by the paper are interoperable zones, Tendermint protocol, distributed ledger systems, and technical specifications.
These are the strong points of the Cosmos (ATOM) Whitepaper:
- The Cosmos Hub and its zones (zones are blockchains)
- Tendermint BFT protocol
- Inter-blockchain Communication system
- Cosmos SDK for developers and builders
- Ethereum scaling solutions
- Multi-application integration
- Network partition mitigation
- ATOM staking and governance
The Best Cryptocurrency Wallet for ATOM
After knowing how to buy ATOM, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.
You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.
On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.
What Factors Affect My Choice of Crypto Wallet for ATOM?
At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.
Check out the important factors affecting your choice of ATOM wallet:
- Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade ATOM right away.
- Not all wallets support a wide range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
- When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
- Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
- Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.
Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors
Now that you already know how to buy ATOM, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.
When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.
Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.
If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes.
General Market Overview for Cosmos (ATOM)
Do you want to learn more about Cosmos (ATOM) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!
Additionally, here are some important topics in our blog:
- Trading speculation about Cosmos (ATOM)
- The current market prices of cryptos
- Detailed price charts with comprehensive histories
- Whitepaper summaries of cryptos
- Founder profiles and their related works
- Up-to-date cryptocurrency news and developments