How to buy Cosmos online

Buy Cosmos online

Cosmos has been nicknamed the Internet of blockchains. It aims to create a network for crypto networks, using open-source tools to create transactions between them. 

This guide will help you understand the fundamentals of ATOM and how to buy Cosmos in 2021. 

Best platforms to buy Cosmos – 2021

1
Minimum Deposit
$50
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User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

What is Cosmos?

Cosmos is a proof-of-stake blockchain and its native cryptocurrency is ATOM. Designed to create a network for crypto networks, it helps streamline transactions between crypto networks. It has a key focus on interoperability and customizability that’s not found in many other cryptocurrencies. Instead of developing its own networks, it focuses on building an ecosystem of networks that share tokens and data without the need for a central facilitator. Each blockchain created within Cosmos is known as a zone. Each zone is tied to the Cosmos Hub, which holds a record of the state of each zone. 

Cosmos was founded in 2014  by The Interchain Foundation (TIF), a Swiss non-profit that funds open-source blockchain projects. It was one of the first cryptocurrencies to follow Bitcoin and was worked on by Jae Kwon and Ethan Buchman. Kwon and Buchman created Tendermint, which would go on to power Cosmos. Though created in 2014, it wasn’t actually released as a software until 2019. The TIF held a two-week long initial coin offering in 2017, which raised over $17 million. Tendermint raised an additional $9 million to continue development through a Series A funding round in 2019. 

As of August 2019, ATOM has a market cap of $3,398,188,721 with 219 million in tokens in circulation. There currently isn’t a cap on the supply, though it’s estimated that Cosmos will achieve a fully diluted market cap of $4,291,003,050. One ATOM token costs $15.33 and reached highs of $29 in May 2021. 

Buy Cosmos now at our preferred partner

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Pros

  • So far Cosmos has been adopted by several dApps such as Binance Chain, THORchain, Luna, and Kava. This provides some social proof for the brand and creates a platform for other currencies to join. 
  • The SDK framework simplifies the process of onboarding. This makes it extremely easy for new developers on onboard the Cosmos blockchain. 

Cons

  • The use of Comos is relatively low. As of the second quarter of 2021, only 40 zones exist with less than 35,000 users on the platform. Out of those 40 zones, 95% of all activity happens in just two of them. 
  • Cosmos has major competitors in the crypto niche. Polkadot is a major competitor and has already gained traction in the industry. Ethereum is another competitor that has already dominated the industry. Eventually, it may reduce the need for any interoperability projects. 

How does Cosmos work?

The Cosmos network is built using three layers. The first is application, which processes transactions and updates the state of the network. The second is Networking, which allows for communication between blockchains. The third is consensus, which helps nodes agree on the state of the system. To connect these layers, Cosmos uses several open-source tools. 

The most important element of the layered design is the Tendermint NFT engine. This was built to allow developers to build blockchains without needing to code them from start to finish. The algorithm also secures the network, validates transactions and commits blocks to the blockchain. It connects to applications using a protocol known as the Application Blockchain Interface.

A crucial part of Tendermint is Tendermint Core, a proof-of-stake (PoS) governance mechanism that syncs the distributed network of computers running the blockchain. For participants (known as validator nodes) to power the blockchain and vote on changes, they must stake their ATOM tokens. To become a validator, you must be in the top 100 of all nodes staking ATOM. The more ATOM you stake, the more voting power you have. Users also have the option to stake their tokens to other validators, which will help them earn a portion of the block reward. Users have the option to switch validators based on their performance and therefore can choose to delegate to another validator based on their voting preferences. 

Now that you know what ATOM is and how it works, you can use one of the brokers above to buy Cosmos. However, if you’re still unsure on how to get started, continue reading!

How to buy Cosmos online

The best exchanges to buy Cosmos are Binance, Kraken and BitPanda. Due to the ATOM being relatively new, the number of exchanges you can buy it from are limited. 

Here’s a step-by-step guide on how to buy Cosmos online:

  1. You can buy Cosmos (ATOM) by opening an account on an exchange that sells the tokens. If you already have an account, log in and make sure it’s been funded. 
  1. Once funded, search for ATOM tokens in the exchange. Select the number of tokens you want to buy. 
  1. Click “Buy” to complete your purchase. Head over to your wallet and double-check that the transaction has gone through. 

Congratulations, you’ve just bought your first Cosmos!

Top platforms to buy Cosmos

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

How to trade Cosmos

With ATOM only being accepted on a few exchanges, it’s not a popular token to trade.

However, if you want to trade your tokens for another cryptocurrency, you can do so on the exchange you bought them on.

Search for the cryptocurrency you want to buy, and use your ATOM tokens for the transaction instead of a fiat currency.