What is Cosmos (ATOM)?
Lina avatar
Written by Lina
Updated over a week ago

Cosmos (ATOM) is a hybrid proof-of-stake blockchain that strives to solve major issues of the blockchain industry and be a remedy to ‘slow, expensive, unscalable and environmentally harmful’ proof-of-work protocols. Its other goal is to make blockchain technology less complicated for developers, as well as make communication between blockchains easier (via an Interblockchain Communication protocol).

As Cosmos uses a proof-of-stake consensus mechanism, ATOM isn’t mined but earned via staking – with the more ATOM staked, the greater the chances to become a validator and earn staking rewards. Described as ‘Blockchain 3.0’, its mission is to ensure that its infrastructure is straightforward to use and allows networks to be built using chunks of the already-existing code.

Check out this article to choose the most convenient way to buy cryptocurrencies, including ATOM.

Important: please note that ATOM deposits and withdrawals are currently not supported. You can buy, exchange and store ATOM. If you'd like to receive or send it, you'll have to first exchange it for a currency which supports crypto deposits and withdrawals – you can always check with the list in this article.

In compliance with the Financial Promotion Act which came into force on 8 October, 2023, at 8 AM UTC, some account functionality is temporarily limited for the Cryptopay customers with verified UK residency.
Check what services are available: Service availability in the UK

The world of crypto is vast and intricate - if you feel overwhelmed, check out Cryptopay Learn. It is a perfect place to start for beginners trying to understand the basics of crypto. For more experienced crypto enthusiasts, this is also an excellent opportunity to brush up on their knowledge. The more you learn, the more you earn!

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