0

How to Buy Cosmos in Ireland 

A Beginner’s Guide to Buying and Selling Cosmos Cryptocurrency in Ireland

Last Updated July 23rd 2021
5 Min Read

If you’re based in Ireland and wish to buy Cosmos – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Cosmos tokens you want to buy.

Cosmos crypto is a growing ecosystem of interoperable and sovereign blockchain apps and services. Cosmos token was built for a decentralized future and is a project targeted at creating an ecosystem of parallel blockchains that would be able to scale and interoperate together. The crypto is intended to structure an ecosystem of parallel blockchains. Cosmos-based blockchains can now incorporate the recently launched Inter-Blockchain Communication (IBC) protocol. 

Cosmos, also known for its native token ATOM, is renowned for its incredible contributions to decentralized finance. It is based on the blockchain network. The primary competing tokens for Cosmos are Bitcoin, Ethereum, and Bitcoin Cash. Before investing in cryptocurrencies, you first need to research and gain ample knowledge that will help you make the right investment decisions.  

What’s in This Guide? 

The following guide is tailored to prepare you to learn the buying, selling and storing practices for the cryptocurrency market. The guide will also help you understand the essential considerations when venturing into this market. 

Herein, you will find a well laid out guide to help you make a successful purchase, sale, or storage of your ATOM tokens. Whether you are new to the industry or an armature, this guide will work for you. 

  1. QUICK GUIDE: HOW TO BUY COSMOS IN IRELAND
  2. Where to Buy Cosmos Tokens
  3. A Step-by-step Guide to Buying Cosmos in Ireland
  4. How to Sell Cosmos
  5. Which Wallets Can I Use to Hold Cosmos Tokens?
  6. How Cosmos Tokens Work
  7. Key Things to Consider When Buying Cosmos Tokens
  8. FAQs

QUICK GUIDE: HOW TO BUY COSMOS IN IRELAND

  1. Open an account with an exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select Cosmos
  5. Enter how many Cosmos ATOM tokens you want to buy
  6. Check the details and confirm your purchase

Where to Buy Cosmos Tokens

The most reliable place where you can confidently buy your ATOM tokens is over the exchange account. An exchange account is a platform designed to help any account holder buy or sell their tokens safely, effectively and efficiently, all in one place. When you are choosing an account, it is crucial to consider the critical consideration that your selected account must be able to support the transactions you intend to perform on the account. 

A Step-by-step Guide to Buying Cosmos in Ireland

This guide is designed to lead you through the whole process of buying, selling and storing your ATOM tokens. By following this material, you will be able to buy ATOM in Ireland. However, you must note an openness to buying ATOM tokens using fiat currency or using other cryptocurrencies. 

Buying Cosmos with other cryptocurrencies

Buying ATOM tokens by exchanging them for other cryptocurrencies at predetermined rates is an easy a straightforward process.  In this transaction, you trade the cryptocurrencies that you possess in exchange for ATOM tokens. If, however, you do not have any, then you must first buy them before proceeding with the trade. 

Buying Cosmos with fiat currency 

Using fiat currency to buy the ATOM tokens simply means using the currency of Ireland (EURO) to buy the ATOM tokens. As such, buying ATOM using fiat currency necessitates that you deposit EURO into your exchange account before you can buy the cryptocurrency. 

The following steps will guide you through the process of buying ATOM in Ireland. 

Step 1: Register an account

The first step is the registration process, easy to get done with a kind of procedure. The account registration process is the first step into owning your own exchange account. There are specific personal details that you must produce in this step, including your official name, phone number, and email address.  In line with set compliance measures, you must verify your identity using a government-issued identity card and a proof of address. 

Step 2: Deposit funds into the account

As part of the second step, you have to deposit funds into this account that will be used to buy the ATOM tokens. Depositing funds is done by linking your credit or debit card to the exchange account or making a direct bank transfer from your bank to the exchange account. 

Step 3: Buy Cosmos tokens

Now that you are all set and ready to start buying your ATOM tokens, you can decide to use fiat currency or exchange with other cryptocurrencies. Fiat currency entails using EURO to specify the amount of EURO you wish to spend in buying the coins and confirming your intention to move forward with the transaction. 

Alternatively, you can exchange cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash and others to trade for ATOM tokens. There are, however, situations where an account does not support the use of fiat currency to buy ATOM. In such a case, you have to use other cryptocurrencies to buy the tokens. What then if you do not own any other cryptocurrencies? In this case, you must first buy them and, after that, trade them for ATOM tokens. 

How to Sell Cosmos

Selling the ATOM requires that you visit the sell section of the account and enter the number of ATOM tokens you want to sell. You can either sell them in exchange for other cryptocurrencies. You will later exchange for fiat currency before withdrawing or sell the ATOM directly for fiat currency.

The funds can later be withdrawn directly from the exchange account in the EURO currency. 

Which Wallets Can I Use to Hold Cosmos Tokens?

You can either use a hot wallet or a cold wallet to hold your tokens.  Hot wallets store cryptocurrencies online, making it possible for the holder to withdraw easily for trade purposes. Hot wallets are for active traders who frequently use their tokens.

Cold wallets hold tokens offline using external hardware such as a USB drive. Cold wallets are a preferred choice for people who typically hold their tokens for a long time. 

How Cosmos Tokens Work

The working mechanism of the ATOM token is based on the Ethereum decentralized exchange (DEX) blockchain. ATOM serves to enable trading between assets and cryptocurrencies via smart contracts on the Cosmos platform. The ATOM platform was established in 2019 to create an "internet of blockchains" that resolves both scalability and interoperability issues in blockchains. 

Key Things to Consider When Buying Cosmos Tokens

Some of the critical things to consider include: 

Availability

Availability is a symbol of acceptance. Go for the more available tokens because this means they are accepted by traders. 

History

History can be a good indicator for the future. 

eToro – Best Platform to Buy Cryptos in Ireland

eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.

Virtual currencies are highly volatile. Your capital is at risk.

FAQs

Where can I buy Cosmos?

You can only buy ATOM tokens from a crypto exchange platform.

Can I buy Cosmos using a credit card?

Indeed, you can buy ATOM using a credit card that you can link to the exchange.

Are cryptocurrencies risky?

The crypto market is generally risky. 

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.