How to Buy Cosmos in the USA
A Beginner’s Guide to Buying and Selling Cosmos Cryptocurrency in the USA
If you’re based in the USA 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 cryptocurrency is a developing ecosystem of compatible and sovereign blockchain applications and services. The cryptocurrency and its native tokens were built for a decentralized future. The ATOM project was initially motivated by creating an ecosystem of parallel blockchains able to scale and interoperate together.
Cosmos, also known for its native token ATOM, is renowned for its incredible contributions to decentralized finance. The Cosmos cryptocurrency structures an ecosystem of parallel blockchains. Cosmos-based blockchains can now incorporate the recently launched Inter-Blockchain Communication (IBC) protocol.
ATOM is based on the blockchain network. Some of the key and rival tokens for Cosmos include but are not limited to 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?
- QUICK GUIDE: HOW TO BUY COSMOS IN THE USA
- A Step-by-step Guide to Buying Cosmos
- Store in a Crypto Wallet
- How to Sell Cosmos
- Things to Consider when Buying Cosmos in the USA
QUICK GUIDE: HOW TO BUY COSMOS IN THE USA
- Open an account with an exchange
- Verify your account
- Go to the deposit section
- Go to the platform and select Cosmos
- Enter how many Cosmos ATOM tokens you want to buy
- Check the details and confirm your purchase
A Step-by-step Guide to Buying Cosmos
Follow the following steps to start buying Cosmos:
Step 1: Register an exchange account
Registering an exchange account is the first step for anyone looking to invest in the crypto market. There are multiple exchange accounts throughout the US.
The first step in investing in this market is to open an exchange account. While there are many exchanges in the USA, not all of them will support the Cosmos. For this reason, you must conduct thorough research so that you can know the ones that support both Cosmos token and USD.
The amount of broker fees that you will be required to pay is another critical consideration. In this regard, it is recommended that you choose an exchange with the most minor charges so that it does not eat into your ROI. Worth noting is that you should choose an exchange account that supports many cryptocurrencies. This attribute makes trading a lot easier.
Registering for an exchange account is a process so easy that no technical knowledge or skill is required whatsoever. The process is also brief and only requires a few personal details like your name, phone number, email address, and later verification of your identity.
Step 2: Fund the account
Funding the account is the second step and requires that you deposit money into the account. The funds are intended for completing the transaction and require that you deposit USD should it be acceptable by the exchange account. If the account supports this approach, all you need to do is link your credit or debit card with the exchange. Alternatively, you can link your bank account directly to the exchange account.
For an exchange account that does not support USD to buy Cosmos, you must first exchange the Cosmos with a different cryptocurrency. For instance, if you have Ethereum, you can exchange it for the Cosmos at the prevailing exchange rates. In doing so, you are liable for a specified processing fee once you fund the account.
Step 3: Buy Cosmos
With a registered account and funds in your account, all you are left to do is buy the actual Cosmos coins. Purchasing Cosmos is doable quickly and easily and requires that you go to the sell section of the exchange and specify the amount you wish to buy. Next, confirm the transaction and log in to your email. You will get a notification to confirm that the transaction is underway.
Two different orders can help you in buying Cosmos. These are the market order and the limit order. With the market order, you will be buying Cosmos at ongoing prices. A market order is settled instantly as soon as you confirm your order.
On the other hand, the limit order allows you to buy Cosmos at a specific price. All you need to do is set a low price at which you would like to buy Cosmos. Then, wait for the token's value to depreciate to that price, after which your order will automatically be completed.
Store your Cosmos Coins in a Crypto Wallet
After buying the Cosmos, you must find a safe place to store them, and that is where the crypto wallets come in. Crypto wallets will keep the tokens safe and secure from the vulnerabilities of the internet like hacking. You can choose either a hot or cold wallet. The hot wallet is accessible to retrieve whenever you are ready to sell.
The other type of wallet is a cold wallet, mainly concerning hardware devices such as USB drives. It is the best option for institutional investors who are interested in holding large amounts of the token. Cold wallets will also do well for investors looking to hold the tokens for prolonged speculations.
How to Sell Cosmos
Selling Cosmos is as easy as it is to buy them. Cosmos can be sold directly from the exchange. Go to the sell section of your account and input the number of tokens you would like to sell. Confirm your details and wait a few seconds for your transaction to be processed.
You can sell Cosmos for USD. You can later withdraw from the exchange or sell it by exchanging it with other cryptocurrencies. However, not all exchanges have both options, so you need to consider such things before opening an exchange account.
Things to Consider when Buying Cosmos in the USA
Some things you need to consider when buying Cosmos include:
The availability of the tokens is a principal consideration because when the Cosmos are highly available, you can easily buy and sell the tokens. The number of tokens in circulation is a direct measure of availability.
The Cosmos stands among the most volatile tokens in the crypto space. Before investing, you must take note of the involved risk and ensure that you are ready for any eventualities that may result from the market instabilities.
You need to consider the coin's performance over the past few months and weeks and use this judgment to predict where it is headed in terms of value.
Buying Cosmos in the USA is a straightforward process. First, you have to open the exchange account and fund it before you can buy the tokens. Once these are ready, find a crypto wallet for storing them as you prepare to sell them.
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Virtual currencies are highly volatile. Your capital is at risk.