* im Not the best at writing, i just wanted a place to talk about Cosmos *
What is ATOM ?
Cosmos (ATOM) is a cryptocurrency that powers an ecosystem of blockchains designed to scale and interoperate with each other. The team aims to "create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralized way." Cosmos is a proof-of-stake chain.
i just want to share my thoughts on why im so bullish on this crypto , Anyone that says it is a useless coin simply can not understand the network to any extent. better to build amazing tech that many can use and monetize it later rather than focusing on monetization first using garbage technology.
Honestly ATOM is such a good long term play and Ever since I discovered it I have only become more and more bullish on it, so im sorry for the long post but i found this place and Love talking about Cosmos, so i Figure i would start my own Publish0x Account.. Hope you enjoy what i write as i will only speak about stuff i am personally involved in.
1 Cent Fee to Send ... Basically instant when we look at Processing Time , Has a Awesome Eco system that lets Holders Stake and Earn Passive income with , ATOM is Truly a under-rated Crypto and i have been investing in Crypto since 2018 and Cosmos has made me Look at the entire " Crypto" Space differently and i will Explain why. So Last year i was not able to Afford Buying the ATOM Tokens and Joining the Cosmos Network , Since you need to be Staking a certain amount of Tokens to be Eligible for the Air drops that Occur on the Cosmos Eco-system and the Price's During last bull run got very high and it would not really let Retail investors get involved, unless you where rich of course... So i took the chance recently since we are in this bear trend and alot of stuff has Dropped Significantly in price , and have started building my position. i want to say the entire Eco system of Cosmos is Unique and different from others , it is why i want alot of other people to understand there is MORE then just " bitcoin " and " Ethereum ". Now yes, i agree there is ALOT of trash in the crypto space these days.... But its really made ATOM stand out when you go deeper into this Cosmo's Eco system.
The Power of Staking , Compounding and Re-investing the profits
i Wish i found about this sooner in my crypto Journey... For so long i would hold my Crypto on my Trezor and just check the Prices of several " alt coins " that i held... This money was doing NOTHING for me... just sitting there tracking a price movement... if you are reading this right now and you have your crypto NOT working for you, let me just say you are doing it WRONG and i was once like you, but i have educated my self and hope to pass on this bit of knowledge to others. - One thing i Love the most about Cosmos is how they have such a great compounding Feature and Air drops , The staking / Compounding just Snowball effect's and if you build the portfolio correctly , As in Do your research and Stake into the Right projects in the Cosmos Eco system, Compounding the Rewards Everyday and Re-investing them will generate some awesome passive income you wont find ANYWHERE else in the crypto space... i can promise you that. Also you get Air drops which is a bonus because this is free Hundreds of Dollars you get when they Drop them into wallets... But the problem was Cosmos ( ATOM ) was trading at like 50-60$ and you need to stake 5 - 10 Cosmo, So thats a Big chunk of money already Because .. Then the 10 JUNO would have been another big chunk of money because it was trading around 30-50$ last bull run, Cosmos is now trading at around 7$ at the time of writing, and JUNO is around 2$ at the time of writing, and 20 Osmosis is another Requirement to be staking but its not that expensive, how ever i think this has big potential for futre growth, its 1$ right now,
Some important Tips for Staking
- ALWAYS stake with a validator outside the top 25 ( these Validators in the top 25 will be excluded from airdrops )
- NEVER stake with a validator asking for 100% Commission ( this means you get NO rewards ) ppl do this because new people think it means 100% rewards, but no, i always look for either 5% or 10%.
- Most importantly do NOT stake with a centralized validator ( binance , kraken , etc ) these are excluded from air drops.
- its always good to check out the validator you are wanting to stake with, normally they will have a website in there bio you can read more about them
- Slashing Slashing will happen if a validator misbehaves (e.g. goes offline along many others, attacks the network, or runs modified software) in the network. The percentage of the total stake that gets slashed depends on the severity of the transgression.
Keplr wallet - Keplr is non-custodial and is the wallet i started with, but As my Holding grew i wanted extra security so i now use a Ledger s and Stake with ledger live , so you can use a ledger and still stake, but some chains are not supported yet on the ledger so i do hold some stuff on Keplr and some on my ledger.
Cosmostation - is not just a validator, but a full-package gateway to the interchain ecosystem. Start your journey with our user-friendly infrastructures for the community.
For a Newbie starting out in the Cosmos, i Recommended Keplr Wallet.
Snapshot For AirDrop's - This is a certain time period where there is a snapshot taken of all Wallets staking and if you are staking the certain coins during the snapshot then you will be eligible for the Air drop which you can claim. These can be worth alot of money but alot of the time you see a dump in price when tokens can be sold because people take profits, of course. and If there is heavy VC backing in that specific Air-Drop you will also notice alot of selling. As for the Time frame the snap shot is taken, no body knows because it keeps people from gaining a advantage over the system. I Stake for the Rewards and compounding them into my investments , But some people do just like to stake so they can receive the air drops. For more info on Air drops check out the Reddit https://www.reddit.com/r/CosmosAirdrops/
The Cosmos Reddit is also a great community if u have any questions / need help. https://www.reddit.com/r/cosmosnetwork/
So when you think about it , During the last bull run only people with a Good amount of Money to throw around could benefit from the Cosmo Eco system , Staking , Air drops, etc... because everyone wanted to get in on this and it was during a Bull Run so Price went NUTS... But then Bitcoin got hit by the FED's Hawkish Monetary policy, Markets crashed and everything followed it...
My point is NOTHING Fundamentally changed with Cosmos , i See this price fall as a Window of Opportunity To let people who are NOT rich join Cosmos.... and because ATOM currently Trading at 7$ ( Instead of 50-60$ ) JUNO Trading at 3$ ( instead of 40-60$ ) it is why i think these prices could be a good entry for someone wanting to begin Staking and earning passive income.
Also when you think about all the others Cryptos out there that do nothing but go up and down in price... at least with Cosmos you have your money working For you.
Thank you for reading