How to buy Cosmos Hub (ATOM) in Australia

Cosmos Hub is a highly volatile asset capable of major price swings in a single day. Today ATOM is trading for $4.48 USD, which is higher than yesterday's trading price of $4.22 USD.

Before you buy Cosmos Hub, make sure you understand these unique risks as well as its legal and tax status here in Australia.

If you're ready to get started, read on for step-by-step instructions on how you can use to buy Cosmos Hub.

Where to buy Cosmos Hub in Australia

Find an exchange to buy, sell and trade ATOM by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

What is Cosmos Hub?

Cosmos's network is one of many cryptocurrency projects focused on the decentralized finance space. This blockchain intends to be the solution to sluggish, difficult-to-use and poor scaling protocols that clog up the crypto space.

A key goal of Cosmos is to provide interoperability between networks. Hundreds of different blockchains are currently live, however many have no way of integrating with one another. By improving the interaction between these networks, blockchain projects are able to expand exponentially as well as become simpler to use.

Developers are able to build applications on the protocol using pre-existing code.

ATOM is the native utility token of the Cosmos network. It is responsible for the execution of smart contracts. It is also used for economic security by serving as a reward for validators approving transactions. ATOM can be staked (lock up) on the network in exchange for additional tokens.

How do I find the best places to buy Cosmos Hub?

Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.

Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.

What will I need to buy Cosmos Hub?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Cosmos Hub.

• This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
• Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing ATOM with your local currency then you will need to pass KYC.
• Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.

What are the best ways to buy Cosmos Hub?

Once you've created an account, you will need to deposit funds to buy ATOM with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy ATOM:

• Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
• Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
• Cryptocurrency: You can usually purchase ATOM by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for ATOM on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy Cosmos Hub?

The easiest way to buy ATOM is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Before buying ATOM, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Cosmos Hub has been performing recently.

Best Cosmos Hub wallets to store your ATOM

You can keep your ATOM on the exchange you purchased it on, or move it to a personal wallet:

• Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
• Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your ATOM below.

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is Cosmos Hub a good investment?

Buying cryptocurrency can be a risky endeavor, but there are precautions you can take to help mitigate risk:

• Competition. COSMOS is just one of many networks striving to improve scalability and accessibility for decentralized application developers. The protocol has to share the market with other, more popular protocols like Ethereum, Cardano and Solana.
• Interoperability. In February 2021, COSMOS underwent the Stargate update that allowed the integration of different blockchains on the Cosmos Mainnet. Compatible networks included Kava, Secret, Binance Chain, and Terra. This launch is one of the key features of the COSMOS network, and its successful growth over the next 12 months may play a major role in the cryptocurrency's eventual price.
• Development team. The original founders of Cosmos were well-known figures within the FinTech industry with easy to research project backgrounds. They were responsible for the building of Tendermint, software infrastructure that can be used as the foundation for building decentralized applications. In 2020, the team, along with the board, underwent a significant refresh and a number of new developers became involved. It might be worth researching the new team in charge of COSMOS before deciding to invest.

Today's Cosmos Hub price versus ATH

Compare today's price of Cosmos Hub ($4.48 USD) against its all-time-high price of $44.45 USD on 17 January 2022. The closer the bar is to 100%, the closer ATOM is to reaching its ATH again.