The Cosmos network is a decentralised ecosystem of independent blockchains able to exchange data and assets between one another. Cosmos aims to offer a solution to slow, unscalable and environmentally damaging proof-of-work (PoW) blockchains used by Bitcoin and Litecoin by providing an ecosystem of connected blockchain networks. This interoperability between blockchains is made possible by two major components of the Cosmos network, IBC (inter blockchain communication) protocols, and IoB (internet of blockchains).
The ATOM native token is the currency used for staking on the network, and tokenising the transactions between several blockchains.
Sign up to Swyftx to buy Cosmos in Australia.
How to buy Cosmos in Australia?
A number of cryptocurrency exchanges in Australia in Australia allow you to purchase Cosmos. Swyftx is one of the best cryptocurrency exchanges in Australia with a trading platform that is easy to use and makes buying ATOM simple and quick. Start by creating your free trading account by clicking the signup button at the top of this page. We require a few personal details like your name, email address and phone number.
To activate your account, you’ll need to verify your phone number email address, and identity. You won’t have to scan or send any documents, however. Verification takes most customers under 3 minutes to complete.
Once verified, the next step is to deposit funds via one of the following payment methods: bank transfer, POLi, PayID and debit card. When your deposit has arrived in your account you can use this to Buy Cosmos instantly.
Is Cosmos a good investment?
Swyftx is unable to provide investment advice and therefore cannot say whether Cosmos is a good investment or not.
The Cosmos ecosystem is huge, with over 250 decentralized applications running on its network. In addition to this, well-known blockchain-based projects including Terra (LUNA) and Binance Coin (BNB) were built using Cosmos. This indicates that Cosmos is a reliable and efficient blockchain network that is being utilised by huge projects in the crypto space.
Cosmos has a lot of long term potential and is positioned well for future performance. However, the crypto industry is highly volatile and there is no such thing as a guarantee. Just like any of your crypto investments, it’s important to conduct thorough research on Cosmos before investing in it. Thorough research includes looking at things like use cases, competitors, tokenomics and its roadmap.
