Want to buy or sell Tether (USDT) on Cosmos but don’t know where to start? This article provides you with the necessary information on trading USDT on Cosmos via BitcoinVN and explains in detail about ATOM, the native token of Cosmos Hub.
Buying and Selling USDT on Cosmos via BitcoinVN
Good news for users on BitcoinVN! We are now allowing you to buy and sell USDT on the Cosmos network. This feature expands Cosmos’ trading options, allowing you to participate more easily in this rapidly growing ecosystem.
Why should you buy USDT on Cosmos?
- Low transaction fees: Cosmos utilizes an efficient gas fee model. The fee depends on the amount of resources a transaction uses, which helps reduce costs for small transactions.
- Interoperability: Cosmos is compatible with various blockchains, allowing you to easily swap USDT for other cryptocurrencies at faster speeds and lower costs.
- Diverse ecosystem: Cosmos has a diverse ecosystem of blockchain projects, including DeFi (decentralized finance) projects. This allows you to use USDT to participate in DeFi activities such as lending and staking.
How to Buy/Sell USDT on Cosmos via BitcoinVN
To buy USDT on Cosmos, please follow these instructions:
- Access the BitcoinVN exchange
- Under “You Send,” select VND as shown below:
3. Under “You Receive,” select USDT (Cosmos)
4. Enter the required information as follows:
After filling in all the information, click “Exchange” to proceed with the transaction
To sell USDT on Cosmos, please follow these instructions:
- Access the BitcoinVN exchange
- Under “You Send,” select USDT (Cosmos)
3. Under “You Receive,” select VND (Bank Transfer) to withdraw money to your bank account. Alternatively, you can use USDT to buy other coins.
4. Enter the required information, as shown below:
After filling in all the information, click “Exchange” to proceed with the transaction
Cosmos and Kava: Brothers but not twins
Although Cosmos and Kava are both proof-of-stake (PoS) blockchains focused on interoperability between blockchains, they are not entirely the same. Cosmos Hub is the center of Cosmos, providing security and consensus for other blockchains built on Cosmos (called Cosmos Zones). In contrast, Kava is a separate blockchain built on the Cosmos SDK, providing decentralized finance (DeFi) solutions with lending and borrowing features. In other words, Cosmos Hub is the platform, and Kava is an application built on that platform.
| Blockchain | Cosmos | Kava |
| Technology | Tendermint Core | Cosmos SDK, Tendermint BFT |
| Features | Blockchain ecosystem that allows different blockchains to communicate and interact | Decentralized lending and borrowing platform |
| Consensus Mechanism | Proof-of-Stake (PoS) | Proof-of-Stake (PoS) |
| Native Token | ATOM | KAVA |
| Applications | Trading, payments, dApps | Lending, borrowing, and staking |
In some cases, you might be trying to interact with a specific token that resides on the Kava blockchain, even though it might be related to the Cosmos ecosystem. This token would require a Kava address for transactions.
For example:
What is ATOM?
ATOM, or Cosmos Atom, is the native utility token of Cosmos Hub, indispensable for users to pay transaction fees, participate in staking for network security and rewards, and engage in governance by voting on proposed changes.
Cosmos Hub pioneers blockchain interoperability, enabling secure communication between different chains. With its Byzantine Fault Tolerance consensus mechanism, it ensures robust security. As the Cosmos ecosystem rapidly expands, the demand for its native token, ATOM, is expected to soar, presenting significant growth potential.
Cosmos competes with platforms like Polkadot in the realm of interoperable blockchains, driving innovation. However, the price of its native token, ATOM, remains subject to the inherent volatility characteristic of the cryptocurrency market.
Should you invest in ATOM?
The decision to invest in ATOM depends on your individual financial situation and risk tolerance. Cosmos is an exciting project with high growth potential, but it also comes with certain risks. Do your research on Cosmos and the cryptocurrency market before making an investment decision.
Conclusion
With its intuitive and easy-to-use interface, BitcoinVN makes it easy for you to trade USDT on Cosmos, whether you’re a beginner or an experienced investor. If you have any questions about cryptocurrency, please contact us at support@bitcoinvn.io for quick advice and support.
