Cosmos For Beginners 7
Cosmos For Advanced 7
Cosmos Quiz 1
ATOM Use Cases
Within the Cosmos ecosystem, ATOM’s use cases are meant for governance activities. The users can choose to pay transaction fees ont the network with ATOM but this is not required as the users could also use other tokens to pay the fees. Users are able to stake ATOM which allows users to earn rewards and to vote on proposals but now Cosmos lists the typical APY of staked ATOM at 9.7% so new users can start investigating their staking options on the website. The users will need to pick a wallet and a validator with which they are comfortable. It is also suggested that users delegate to multiple validators with reputations and uptime statistics to hedge their risk.
The strong indicator of user presence is hardware wallet support so if there are enough users to warrant the demand for the solution, there’s a huge demand for a particular cryptocurrency. In ATOM’s case, Ledger allows users to spend or receive ATOM on their wallets like any other asset. Beyond the hardware wallets, Cosmos boasts 32 wallet choices that range from IOS to android. Since this blockchain is linking so many blockchains with each other, it goes without saying that it can enable different ecosystems to interact with one another which makes it perfect for a decentralized exchange.
A strong indicator of user presence is hardware wallet support – if there are enough users to warrant the demand for a hardware wallet solution, then there’s significant demand for a particular cryptocurrency. Scaling is one of the many use cases. Any EVM-based zone that is connected to the Cosmos hub will be powered by the Tendermint consensus system as well and will enable the zones to scale faster.
ATOMs can be traded on major exchanges like Kraken, Binance, and Poloniex so you can receive them through staking directly as a validator or indirectly as a delegator. If you are looking to buy ATOM you can do it via Binance. Make sure to create a Binance account and sign in. Navigate to the spot wallet and deposit the crypto that you want to trade for ATOM. As of the time of writing, Binance supports trades against Binance USD, Binance Coin, Tether, USD coin, and Bitcoin.