Cosmos is an ambitious project attempting to bring order to the world of blockchains. The project is designed to be a “shared infrastructure” of sorts where blockchains of all shapes and sizes can interact with one another and other distributed services.
Cosmos is a Proof of Stake (PoS) blockchain network that is part of the Internet of Blockchains (IoB) ecosystem. It is also a decentralised platform that is self-governed and is fully compatible with the Interplanetary File System (IPFS). This guide will discuss everything you need to know about Cosmos before you invest in it.
Understanding How to Trade Cosmos (ATOM)
Trading Cosmos does not have to be a complicated process. In this section, we will show you how to trade easily.
Compare the Available Crypto Exchanges
Whether you want to buy or sell ATOM/USD, it is important to compare the available cryptocurrency exchanges and their ATOM (ATOM) trading pairs. Most ATOM exchanges allow you to buy ATOM with USD and EUR. One of the most important things for a crypto enthusiast is to find a reliable and secure exchange. In the past, it was a bit easier for the average user to find an exchange, but now there are hundreds of exchanges, which makes the search for a reliable and secure one a bit more complicated.
Create an Account
While on the exchange, you will need to create an account. Depending on the exchange you choose, you might have to fill in more details than others. Most of them will only need you to enter your details and verify your email so you can begin using the account.
Make Your Deposit
Now that you have an account, you can go ahead and make your first deposit. Most accounts allow you to deposit in fiat currencies and often impose a minimum limit or figure. You can fund your account via a bank transfer, credit or debit card, or use a reputable cryptocurrency wallet. You only have to check on the platform to know what is allowed and what is not.
Proceed to buy your Cosmos (ATOM) and get the most suitable wallet to store it. You now have the crypto and can also sell it.
3 Things to Consider when Buying Cosmos
Purchasing cryptocurrency can be a risky adventure, especially when you don’t know how to go about it. Here are three things you should consider when buying Cosmos (ATOM)
Check for Competition
The cryptocurrency market is one of the most competitive areas on the internet. You could say that it is the most competitive. You see, the cryptocurrency market is not like the stock market. There are no high-powered computers or agents to do your bidding. You can do everything you want to do for the most part without interacting with anyone else.
This is why, without competition, there is no reason to check for competition when buying ATOM. When you try to buy ATOM from an exchange that has no competition, you will have a very hard time getting your hands on it. This is because the exchanges with less competition often have the highest prices for ATOM. When you are looking for ATOM, you want to make sure that you are using an exchange that will let you get your hands on it at a reasonable price.
Consider the Interoperability
Interoperability is not something you need to worry about when you buy a candy bar or a car. You just look at your needs and see which one fits the best. It is a huge deal when it comes to cryptocurrencies, though. One of the most important things a cryptocurrency can have is good interoperability. This comes in many forms: a cryptocurrency needs to work well with other cryptocurrencies, fiat currencies, and other businesses and services.
Consider the Development team
The cryptocurrency market is one of the most volatile markets around, and it is characterised by extreme highs and lows. The downfall of any cryptocurrency is often blamed on the development team. The cryptocurrency community is very critical, and they judge the cryptocurrency by the development team backing it up. As such, you should look at the core developers and determine their trustworthiness.
Conclusion: The Future of Cosmos (ATOM)
ATOM is a decentralised network of independent parallel blockchains powered by the ATOM token. It is a flexible, high-performance system that allows for the development of a variety of high-quality services for the benefit of all. It aims to be the internet of blockchains. It is indeed the hub of hubs and is expected to get even better.