The blockchain project Cosmos wants to create an “internet of blockchains”. This would allow different blockchain networks to communicate with each other. On this page, you can read what Cosmos is and where you can buy the cryptocurrency of the platform, called ATOM.
The Cosmos network consists of different “zones”, or separate blockchains. These are blockchains that are connected to the central blockchain of Cosmos. This central blockchain runs on the Tendermint BFT protocol, an implementation of the proof-of-stake (POS) protocol, which means that you can stake ATOM, Cosmos's cryptocurrency. Due to its underlying technology the Cosmos network is extremely scalable compared to other blockchain networks.
Where blockchain networks such as Ethereum enable the average use case, Cosmos makes it possible to realize all kinds of specific use cases by using its separate blockchain. Think of possible use cases such as blockchain IDs or making fast payments. Cosmos offers a software development kit (SDK) that allows developers to easily build applications on Cosmos to realize these specific use cases. This contributes to the easier implementation of Cosmos technology.
Where Bitcoin was blockchain 1.0 and Ethereum blockchain 2.0, Cosmos calls itself blockchain 3.0 and thus the next step in the evolution of blockchain technology.
Buy Cosmos (ATOM) safely and easily via Knaken+
Cosmos' cryptocurrency, called ATOM, is used to stake. The cryptocurrency prevents attacks on the network so ATOM is an important part of Cosmos' security. If you are confident in the future of Cosmos, you may want to buy ATOM.
There are many ways you can buy ATOM. This can be done via cryptocurrency exchanges such as Binance, Kraken, and Coinbase. It is also possible to buy ATOM through over-the-counter (OTC) platforms. Further on you'll be able to read some important tips for when you decide to buy ATOM.
Sell Cosmos (ATOM) safely and easily via Knaken+
Selling cosmos (ATOM) can be as easy as buying ATOM. Do you have your ATOM in your exchange account? Then you can sell it in just a few clicks on the open market of the exchange for the current spot price. You can also sell your ATOM to the aforementioned OTC platforms. They will convert the cryptocurrency directly into euros.
Knaken helps you buy or sell cosmos (ATOM) safely and easily. It doesn't matter if you are a beginner or a veteran. These three simple steps apply to everyone.
• Select your cryptocurrency
• Pay via payment methods such as IDEAL.
• Receive and manage your crypto in your Knaken dashboard or your own wallet.
Why choose Knaken?+
• Safe & Easy.
• No extra costs.
• Manage crypto via your Knaken Dashboard or your wallet.
• Knaken has its own exchange.
Important tips when buying/selling Cosmos (ATOM)+
If you have decided to buy Cosmos (ATOM), several things are important to keep in mind. First, you need to have a good wallet that supports ATOM. This can be an online, software or hardware wallet. Hardware wallets are often the safest option. Online wallets may be the easiest to use, but are considered one of the more insecure options since you need an internet connection and you often don't have access to the wallet's private key.
If you have set up your wallet, it is time to choose where to buy ATOM. Do good research on the exchange or the OTC platform, because scams are common in the crypto world. Search for reviews on Trustpilot, for example, and ask for experiences from others. This is the easiest way to figure out whether a company or platform is trustworthy or not.
Finally, you have to decide how much ATOM you want to buy. Only put money in cryptocurrency that you can miss. While cryptocurrency prices can rise rapidly, they can also go down quickly. So be aware of how much money you put in.