Cosmos Price Today

What Is Cosmos (ATOM)?

Cosmos is an ecosystem of independent interconnected application-specific blockchains built using developer-friendly application components and connected via the inter-blockchain communication (IBC) protocol.

There are currently more than 263 apps and services in the Cosmos network, including Binance Chain, Crypto.org, and the Cosmos Hub.

How Does Cosmos (ATOM) Work?

The main blockchain — Cosmos Hub — acts as a central ledger for other compatible blockchains (Zones) on the network that developers build on the Cosmos open-source software development kit (SDK). The Cosmos Hub acts as the primary connection point between all chains within the Cosmos ecosystem, to simplify the bridging process for developers and users.

With Cosmos’ native token, ATOM, users can pay transaction fees, participate in the underlying governance system, and stake in order to support the network’s proof-of-stake (PoS) consensus algorithm.

History of Cosmos (ATOM)

In 2014, Jae Kwon began researching the possibility of a proof-of-stake blockchain with a Byzantine Fault-tolerant (BFT) consensus mechanism.

With the help of Ethan Buchman and the Interchain Foundation (ICF), Kwon continued to develop the idea through 2015 and created Tendermint, the consensus algorithm that would go on to power the Cosmos blockchain that they introduced in 2016.

How To Buy Cosmos (ATOM)

Buying ATOM is easy and follows the same protocol as buying other cryptocurrencies.

It starts with finding a crypto platform — like Binance.US — that supports ATOM, provides access to other popular cryptocurrencies on the market, offers reasonable fees, and gives you resources and tools to help you make the right choices.

Once you’ve found a platform that works for you, create an account and verify your identity.

Next, fund your account with fiat currency (government-backed money such as U.S. dollars, Japanese yen, or Honduran lempira) via one of the methods offered by the platform, which usually include:

• Debit or credit card
• ACH from an existing bank account
• Bank or wire transfer
• Other established payment services (check platform for details)

After the money arrives in your account, you can use those funds to specify how much ATOM you want to buy and when you want to buy it.

When the transaction is complete, store the ATOM in a crypto wallet — either the cold version (an offline space like an external hard drive) or the hot version (an online space typically provided by the platform through which you made the purchase).

Cold wallets are the most secure but can be difficult to access and are at a higher risk of being lost or corrupted. Hot wallets are also secure, are immediately available, and hold a very low risk of being lost or corrupted.

How To Sell Cosmos (ATOM)

To sell ATOM, start by opening an account on a crypto platform, like Binance.US, if you haven’t already.

Once you’ve opened an account, fund it with fiat currency so you can buy Cosmos. Another option for funding your account is to transfer ATOM from another crypto ecosystem.

When you’ve got Cosmos in your account, it’s just a matter of deciding how you want to sell it and then choosing from methods such as:

• A market order at the current market price
• A limit order at a future price you indicate
• A stop-limit order (sometimes known as a stop-loss), where you can set a stop price to trigger the sale at market price

Your crypto exchange will transfer fiat currency equal to the value of the ATOM you sold. You may use it to purchase other cryptocurrencies or withdraw or transfer it.

How To Trade Cosmos (ATOM)

If you’ve bought or sold ATOM, you can trade it via the same procedure:

• Open an account with a crypto platform that allows users to trade Cosmos
• Fund your account with the fiat currency of your choice
• Purchase ATOM through this platform or transfer it from another platform
• Use the tools, resources, and information provided by the platform to create and initiate a trade

Keep in mind that the cryptocurrency market changes very quickly, and trading Cosmos can be extremely difficult to time and execute correctly. Before initiating any trade orders, research and analyze the market to develop a strategy to guide your decision-making process.

How To Stake Cosmos (ATOM)

If you’re looking for a way to earn rewards without buying, selling, or trading, try staking. When you stake ATOM, you dedicate some or all of your holdings so the platform can use them to secure the Cosmos blockchain and the proof-of-stake network on which it operates.

After you stake your ATOM, the crypto ecosystem generates rewards based on a number of factors, including:

• The amount of Cosmos staked
• Transaction fees accumulated from circulating assets
• Newly created block incentives

As with buying, selling, and trading, the right crypto platform — like Binance.US — will make staking ATOM as simple, secure, and convenient as possible.

Resources

Official Cosmos Website

Cosmos Whitepaper

This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or endorsement of any digital asset or services discussed herein; and (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice. We make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability or completeness of any such information. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. Binance.US shall not be liable for any consequences thereof.

Risk warning: Buying, selling, and holding cryptocurrencies are activities that are subject to high market risk. The volatile and unpredictable nature of the price of cryptocurrencies may result in a significant loss. Binance.US is not responsible for any loss that you may incur from price fluctuations when you buy, sell, or hold cryptocurrencies. Please refer to our Terms of Use for more information.