If you’re interested in buying cryptocurrencies, you may be wondering, What is Cosmos Atom, and where can you buy it? This article will go over the basics and safety of cryptocurrency and its underlying technology. This platform offers users opportunities to make big investments through cryptocurrency trading.
Cosmos cryptocurrency price has increased in recent months and is poised to rise even further. Its first public trading day on 16 March 2019 was at $7.39. The cryptocurrency slid down the market, spending most of 2019 trading between $3 and $5. The cryptocurrency price subsequently started rising as the market realised that it was a good investment, but it didn’t make enough gains to justify the current valuation.
Using the ATOM protocol for Bitcoin transactions on the Cosmos platform is an interesting move. Instead of the typical bitcoin-to-dollar conversion, it will convert the transaction fees into ATOM. This allows Cosmos nodes to earn a portion of the block reward and delegate their tokens to validators. They launched the Cosmos network with the help of the Interchain Foundation, which raised $17 million in an ICO in 2017.
What is Cosmos (ATOM)
It’s a decentralised network that has opened its software and tools to developers. The company wants to create an “internet for blockchains,” enabling data share and tokens across different blockchains.
Proof-of-stake
Cosmos (ATOM) uses the ‘IBC’ protocol to connect different blockchains. This protocol allows for the exchange of value between chains. The Hubs automatically send and receive tokens from one zone to another. This prevents double spending because users can only trust the token’s origin zone. As such, this cryptocurrency has the potential to be the answer to decentralised exchanges that cannot scale.
Growing Dapp community
A new digital currency, ATOM, is set to revolutionise the digital advertising industry, and the Cosmos Atom Dapp platform is making this possible. Anyone can trade, invest, or lend tokens through its marketplaces and exchanges. The ATOM native digital currency is a new form of cryptocurrency, allowing gamers to trade loot outside the game. Developers can use their ATOM tokens to vote on future projects and proposals, and the network’s decentralised governance allows communities to control resources and make decisions.
Future price
Several indicators can help you determine the future price of Cosmos Atom. One of the most popular indicators is the moving average. The simple moving average gives you the ATOM’s closing price over 12 days. On the other hand, an exponential moving average gives weight to recent prices. It reacts more quickly to changes in price. You can use these indicators to determine when the future price of Cosmos Atom will be higher or lower.
The price of Cosmos (ATOM) first hit the open market in March of 2019. The cryptocurrency quickly fell, from a high of $7.39 on 16 March to a low of $1.13 by 23 August. In December, it finished the year at $4.21. The price has since recovered, and it is currently trading around $5. However, it remains a risky investment without knowing much about it.
Is Cosmos (ATOM) a good investment?
There are several reasons why ATOM is a promising cryptocurrency. The most compelling reason is its innovative technology. Cosmos uses a proven interchain protocol called IBC, securing the network’s integrity. The price of ATOM has barely crossed $40, making it unlikely that it will continue to climb above $50.
A key reason to invest in Cosmos (ATOM) is its lower price than its competitors. Its circulating supply is one-quarter of Polkadot (DOT), allowing it to trade at a lower price. Its circulating supply is also nearly twice as low as Avalanche (AVAX), giving Cosmos plenty of room to grow in price. It could be a lucrative investment for long-term investors.
Final Words
It is good to research any cryptocurrency before investing despite the low trading price. There are hundreds of platforms that offer access to thousands of cryptocurrencies. It’s important to consider your risk tolerance before investing your hard-earned money in Cosmos. You may want to consider diversifying your portfolio with other cryptocurrencies as well. You can also use the Changelly platform to learn more about cryptocurrencies.
