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Cosmos is focused on blockchain interoperability. It’s intended to be like a blockchain of blockchains, laying down standardised protocols for different blockchains to talk to each other.
The Cosmos system is powered by the Tendermint proof-of-stake protocol, which uses the Cosmos ATOM token.
This is our quick guide to just one way to buy ATOM. Compare some other options in the table below.
Exchanges that offer Cosmos (ATOM) include the following:
You can buy ATOM with fiat currency, cryptocurrency or a combination of both. Take your pick:
There are a limited number of places to purchase ATOM, but you can purchase it directly for USD, CAD or EUR on Kraken. To buy ATOM on Kraken with fiat currency, you will need to do the following:
Note that Kraken requires a higher level of account verification for fiat deposits, currency exchange fees may apply and your deposit may take up to a week.
Buying through fiat currency like AUD via an intermediary cryptocurrency could be faster. For a same-day purchase, you might want to do the following:
The process for selling ATOM is like buying it in reverse.
Cosmos has its own native wallet, called Lunie. You can find it at the Lunie website. To get started, sign in at the Lunie website.
Cosmos allows blockchains to seamlessly communicate with each other within a scalable proof-of-stake-based protocol.
It’s built on Tendermint proof of stake, and Tendermint’s developers are the main driving force behind the creation of Cosmos.
Cosmos aims to do the following:
Cosmos has a well-known team behind it and has achieved a lot of recognition from many other large projects in the space.
Cosmos is a new project, and it’s just one of several blockchain interoperability projects.
And although it’s been heavily tested prior to launch, its underlying proof-of-stake protocol is still largely experimental. Similarly, the IBC protocol has yet to be launched.
Once you learn about Cosmos and the team behind it, and weigh up the risks and downsides associated with the project, you can make an informed decision about whether to buy Cosmos' ATOM cryptocurrency.
Disclaimer: The author holds BTC at the time of writing.
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