Cosmos is an ecosystem of apps and services designed to scale and interconnect blockchains. The aim of the project is to create an “Internet of Blockchains,” which has the potential to bring about the next stage in the development and adoption of decentralized technology. Many who invest in Cosmos believe this move is inevitable and very promising.
Even though there are all kinds of apps on blockchain, there is yet a single solution to let them interact together. Cosmos can transfer tokens between zones in a secure and quick way.
The Cosmos ecosystem consists of three main tools. The Inter-blockchain communication protocol (IBC), which works like TCP for blockchains; a consensus engine Tendermint Core; and software development kit Cosmos SDK for building customized blockchains.
The native currency on the network is called ATOM. Cosmos is owned and operated by the community, and holders of ATOM can stake their tokens to take part in maintaining the network and get rewards in the currency. That may be the best way to invest in Cosmos, because you’ll be getting some income no matter what happens to the price of the token.
People who were investing in Cosmos at around $6-7 at the beginning of 2021 guessed right as their investment grew 500% in 9 months. Of course they would have had to sell at the top, because the price went down from $44 in September to $22 by December. It then went back to $43 in a month and then continued to go down to the pre 2021 level of $7 as it trades now as of July 1, 2022.
A Cosmos investment is an investment for believers in blockchain.
Should you invest in Cosmos now? If you want to invest in Cosmos today, do your research, get a variety of opinions and only use a sum you can afford to lose, because crypto seems to have entered a bear market. It may be a good idea to invest in ATOM by DCA or dollar-cost averaging your investment, i.e. invest a relatively small sum regularly, say $25-50 dollars a month, instead of trying to “catch the dip.” Timing the market works best when you’re a big fund that can manipulate the market. Crypto investors can get big gains by holding for a long time.
If you’re asking, “where can I invest in Cosmos?” it’s available on all major cryptocurrency exchanges like Coinbase and Binance.
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