How to sell Cosmos (ATOM)

Cosmos (ATOM) is a coin that fuels a blockchain ecosystem that is built to work together. The team wants to build a decentralized network of blockchains that can connect with one another. ATOM holders may stake their tokens to help keep the network running and get additional ATOM in return.

Cosmos’ will make dapps operate quicker and cheaper by enabling them to run on their own dedicated blockchains. Developers may utilize Cosmos’ pre-built modules to quickly construct blockchains that are customisable for their individual use case. The Cosmos protocol, consensus engine, and software development kit will make switching between chains simple while retaining the transaction cost, security, and speed developers have come to expect.

If you’ve made a good returns investing in ATOM and want to sell a portion, this guide as part of our sell cryptocurrency series explains how to sell Cosmos safely.

How to Sell Cosmos in December 2021

Best Exchange to Sell ATOM

As well as eToro, ATOM is listed for trading on Binance, Coinbase, ByBit, KuCoin, and Bitfinex – you can buy and sell Cosmos for USDT or Bitcoin on most of the major exchanges as it’s a popular altcoin with high demand.

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You can also trade ATOMUSDT perpetual futures on Binance and ByBit. Those are two options if you want to short sell ATOM on leverage.

What is Cosmos?

Cosmos is a blockchain ecosystem that can communicate with one another. Blockchains couldn’t connect with each other before Cosmos. They were difficult to construct and could only handle a limited number of transactions per second. Cosmos employs a novel technological approach to address these issues.

Cosmos seeks to construct a network of crypto networks that are linked by open-source tools for facilitating cross-network transactions. Cosmos stands out from other projects because of its emphasis on interoperability and customizability. Its purpose is to create an ecosystem of networks that can exchange data and tokens without the need for a central hub.

Cosmos was developed and launched with the assistance of the Interchain Foundation, a Swiss non-profit that sponsors open-source blockchain initiatives. The ATOM token is used for spending, holding, staking, and transmitting and helps to ensure interoperability across all zones in the Cosmos network. The more blockchains that depend on the Cosmos Hub to keep their transaction histories, the more valuable ATOM may become.

ATOM 2021 price chart on eToro

Users obtain the capacity to vote on network enhancements by owning and staking ATOM, with each vote proportional to the amount of ATOM staked. Validators are rewarded with ATOM depending on the number of tokens they stake, with delegators getting a tiny portion of the payment.

Investors should be aware that there is presently no cap on the number of new ATOM that may be produced. Cosmos, on the other hand, modifies the quantity of tokens issued dependent on the number of ATOM pledged. This will result in an annual inflation rate of about 14%.

Many traders have a long-term bullish outlook on Cosmos, however in the short-term it may be going into a period of consolidation or a deeper correction to re-test support around the $20-$25 levels. Some swing traders may choose to sell Cosmos now in order to increase their holdings by buying the dip if a higher low (HL) forms.

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How To Sell ATOM In 2021

Cosmos saw significant growth in 2021. The ATOM economy is made up of people who buy and sell ATOM. Some people buy ATOM to start a gaming team, while others buy ATOM to invest in and bet on the value of ATOM.

At the same time, some people sell ATOM since they may have a valuable ATOM and wish to profit on Cosmos’ present popularity. ATOM’s pricing changes greatly depending on how popular the game is. The demand for ATOM develops as more players join the game, increasing market activity.

To demonstrate how to sell ATOM, we’ll utilize eToro, a famous cryptocurrency broker. In all of our crypto buying and selling guides, we mention eToro. 20 millions registered traders use the eToro website, which offers a wide range of trading options. 

eToro is a user-friendly trading platform that makes selling ATOM and other cryptocurrencies simple. You may utilize the site to sell your ATOM assets even if you’re a total newbie. If you wish to sell your ATOM on eToro, you’ll need to follow the five steps below. If the methods below are followed successfully, you may sell ATOM on the platform.

Step 1: Buy ATOM

You must first buy your token before you can sell it. ATOM may be purchased on eToro or purchased from another broker and sold on eToro. On eToro, ATOM may only be bought by verified users. You’ll have to go through a quick verification process once you’ve made an account.

Once you’ve verified your account, eToro enables you to deposit funds into your account. A number of traders favor the stablecoin USDT. You may fund your eToro account using a number of different ways. You may fund your eToro account with local currency using your bank account, credit card, or third-party payment methods.

You may buy ATOM using the fiat money you deposited, or you can buy USDT first and then ATOM when the funds have been credited to your account. You might also try out the platform’s demo account. Every eToro user is offered a $100,000 trial account to test the site and see whether it meets their requirements.

Opening a trade to purchase $1000 worth of ATOM

Step 2: Always Know When To Sell

Everyone who puts money into a crypto asset expects to make money. It’s important to understand when and where to buy an item, but it’s also critical to understand when and where to sell it.

No investor or trader buys cryptocurrencies with the intention of losing money. Even investors who buy crypto assets with the intention of holding them for a long time are aware when they are profitable.

Cryptocurrencies are very volatile assets, and their value might drop at any moment. It’s a good idea to have a goal in mind. If you do not do so, you are more likely to lose money when the market is moving in the wrong way.

eToro offers trading charts for all crypto assets, including ATOM, to help traders make educated trading decisions. In these charts, candlesticks are used to study historical and present price changes across time. These charts may also be used to determine whether it’s a good time to buy ATOM or other cryptocurrencies. When you choose ATOM from the cryptocurrency interface, you’ll be sent to a website where you may buy or sell the cryptocurrency.

Step 3: Know The Total Value Of Your Portfolio 

Because eToro offers a wide range of crypto assets and trading pairs, you may have more than ATOM in your account. In this lesson, we’ll be focusing on the asset ATOM. Knowing the total value of your portfolio can help you determine whether the amount of ATOM you wish to sell is enough. $30 is the minimum amount that may be withdrawn from eToro. You must have at least that much ATOM before you may sell.

To check the value of ATOM in your portfolio, go to the upper left corner of your dashboard. By clicking on the symbol, you may see all of your crypto assets and their valuations. Aside from ATOM, you may sell any other asset by clicking on it. You must have the required withdrawable amount before selling the item.

Step 4: Close All Active Positions

While trading on eToro, you may have an open position in the ATOM cryptocurrency. You may not be able to sell if you don’t have a significant amount of the token in your wallet that isn’t part of the open position. You risk losing any earnings you’ve made on the crypto asset if you hold your tokens instead of selling them.

To sell at a take profit target you have in mind, choose the option to set an ‘order’ in the trade pop up menu. For example in the image below, a sell order would be set for when ATOM reaches $34.

 Closing Trade on Etoro

After converting your tokens to cash or stablecoin, your portfolio’s corresponding balance is shown. When an asset settles for a price that varies from the initial price aim, it may be lowered. This scenario might turn out either well or badly.

Select the portfolio icon, which shows all of your assets, to terminate an active position on ATOM through your eToro account. Then, by clicking on ATOM, you may navigate to the commerce section. You may choose to sell all of your ATOM or only a portion of it in this section. However, you may use the search icon to choose an ATOM pair of your choice and still wind up in the trading section. The conversion’s matching value is now available for withdrawal. To withdraw the money, you may use your local bank account or credit card.

Step 5: Withdrawal Requirements And Exchange Rates 

Withdrawing money from eToro is a simple process after you’ve completed all of the required verification requirements. There can be occasions when withdrawal symptoms appear, but if you have a strategy in place, they are unlikely to occur. It’s also conceivable that a user is accessing the site from a country where it isn’t accessible. Other circumstances include incomplete verification and the absence of withdrawal channels.

On its platform, eToro is dedicated to making withdrawals as straightforward as possible. According to the business, any cryptocurrency listed on eToro’s platform might be liquidated. At any time, you may transform your ATOM to fiat. While other exchanges have a higher minimum withdrawable amount, eToro has a low minimum.

ATOM has a thirty-dollar minimum withdrawal limit, while eToro has a $1 minimum withdrawal and a $5 withdrawal fee. This shows that eToro is user-friendly not just in terms of the user interface, but also in terms of the fees imposed for each transaction conducted on the platform.

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Crypto Taxation In The US

Cryptocurrencies are now tax-free in the United States. On the other hand, the proposed infrastructure bill proposes taxing capital gains inside the nation, with various tax rates for long-term and short-term profits.

When it comes to taxes on short-term and long-term profits, the short term refers to earnings made inside a year, while the long term refers to gains made over the course of a year. These taxes apply to a variety of crypto-related activities, including transaction fees.

Due to the nature of cryptocurrencies, enforcing tax obligations on cryptocurrency owners may be difficult. Officials in the United States have long been concerned about the use of bitcoin for illegal reasons. As a consequence, they are working to enact legislation that would include and protect them against similar acts. One will be made available as part of the infrastructure bill.

Best Crypto Exchanges 

Across a hundred exchanges exist around the globe, each with its own authority. Some services are accessible globally with little limitations, while others are limited to a single country or region. To make cryptocurrencies accessible to fans and investors, crypto exchanges are often employed. These platforms may provide a range of services – depending on your requirements, you may utilize extra services like automated trading and staking in addition to buying and selling Bitcoin.

Some cryptocurrency exchanges have succeeded in standing out and connecting with millions of people all around the globe. The best cryptocurrency exchanges are chosen based on a set of criteria. The requirements include a user-friendly design, security, rapid customer support, lessons on how to use the exchange, and a growing community. Only a few exchanges have been able to meet these requirements in order to give their consumers the finest possible service.

Without the help of a broker, it would be difficult to sell ATOM tokens. Although ATOM may be sold to a third party directly, most investors choose to sell it via a broker, often known as an exchange. You may use an exchange for more than just buying and selling cryptocurrency. In terms of selling, we’ve listed a few exchanges where you may securely trade your ATOM tokens. These exchanges have been extensively evaluated by industry experts and are recognized as reliable by experienced investors and dealers.

These brokers provide a wide range of services. Users may exchange ATOM tokens for USDT or any other cryptocurrency or fiat cash available on their websites. The majority of traders choose to swap their ATOM tokens for Tether since the price fluctuates little or not at all.

These Bitcoin brokers are among the most well-known in the world. They have a host of unique features geared at making trading more enjoyable for its consumers, in addition to conforming to current legislation in the nations where they operate markets.

There are a few things to look for while searching for a broker, and the absence of them might be a red flag. Brokers and exchanges, on the other hand, seek to exceed their clients’ expectations, starting with a user-friendly trading interface. When it comes to trading via a broker vs trading on an exchange, traders certainly have preferences. These requirements include a big number of trading pairs, security, and trustworthy customer support.

These exchanges were picked based on how well they were regarded by other exchanges. On its platforms, the ATOM coin, in particular, has a lot of liquidity. Liquidity is important to traders since they can’t trade the ATOM token if it isn’t accessible. Because of the high amount of trading on these platforms, dealers also trade futures in addition to buying and selling ATOM.

Storing ATOM In The Best Wallets 

ATOM is a digital asset that must be kept safely and correctly. Digital wallets are used to store ATOM and other cryptocurrencies. Cryptocurrency owners have a range of options for storing their digital assets. Some people retain their cash in digital wallets, while others keep it in physical wallets.

Each of these wallet designs has its own set of benefits and drawbacks. You are free to retain your ATOM in any wallet of your choice, as long as you take reasonable precautions to protect your assets. eToro have a free wallet with an unlosable private key that supports 120+ cryptos.

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When Is The Best Time to Sell My ATOM?

When it comes to investing, numerous approaches are often used. Some people prefer the short-term approach, where they just have to wait a day to a week before selling. Others may purchase ATOM and hold it for a period of time, returning to see whether they have profited from their purchases after a few weeks or months. Long-term investing entails holding for many years before selling. In other words, you only sell once the token’s price has reached your aim.

As an investor, you may also benefit from industry professionals’ market insights. However, don’t depend exclusively on it or blindly adopt their viewpoints without doing thorough investigation. These experts are human, and as such, they are prone to error. On eToro, you may also have access to expert updates.

Price of ATOM 

The cost of ATOM has risen dramatically in recent months. Because the market is volatile however, cryptocurrency prices do not remain constant. When the market swings, it means that prices will increase at times and then plummet as a consequence of bad news coming out or investors panic selling. Price fluctuations are often shown on the chart by candlesticks and other patterns.

ATOM’s supply will diminish due to the burning of fees on its lending operation, which is bullish for the price, however it can still dump and crash, especially if Bitcoin looks bearish – many investors sell their altcoins when Bitcoin looks like it may drop.

Guide To Automated Trading

Automated trading may help traders who don’t have enough time to monitor their trades. A lack of attention might cost you a lot of money. According to trading laws, a trader must be in the right frame of mind to maximize market opportunities. This is why, in addition to risk management, a trader’s trading mindset is critical.

Trading bots let traders concentrate on other things by automating the trading process. Trading bots employ algorithms to trade Bitcoin.

They do, however, need some human input in order to function properly, a trader must set up a trading range based on his strategy, which these bots use. Trading bots are necessary because they are designed to respond to market possibilities faster than humans can.

Automated trading’s main purpose is to ensure that slight price swings are profited from. Traders may miss out on opportunities from time to time due to their busy schedules. Trading bots watch every market move, enabling traders in making more money than they would have made if they were trading personally. Trading bots have the disadvantage of potentially causing massive losses if the market moves in the incorrect way and the trader is not there to watch it. As a consequence, trading bots aren’t entirely reliable.

How To Invest Responsibly In Cryptocurrency

Everyone is interested in investing in cryptocurrencies these days because of the benefits. You shouldn’t get into crypto without first learning the ropes. It’s not only about having the cash to put into the market. The volatility of the market should worry a beginner investor. A crypto investor is expected to possess a number of extra qualities.

Before money, emotional stability, risk management, and technical analysis skills all come together to become a successful trader. It’s critical to remember that no one has any impact on the market. As a consequence, it has to be handled with caution. Greed is a major problem that most traders experience. If a trader can resist the urge to be greedy, he is one step closer to becoming an expert. 

Should I Sell ATOM In 2021? 

ATOM has a promising future because of its utility in decentralized finance. As a consequence, it’s a cryptocurrency to watch.

Keep the following considerations in mind before selling your ATOM.

• If you want to sell, be sure you aren’t going to lose money.
• Make sure you aren’t investing all of your funds in cryptocurrency. Never invest your whole portfolio on a single asset. There’s a considerable risk you’ll lose money in this market since it’s so volatile.
• Don’t be scared to sell if you’ve met your ATOM target. Greed is a negative personality attribute.

If, on the other hand, you haven’t yet met your objective, remember to keep going. Patience is crucial when it comes to investing in cryptocurrencies.

Summary

Without a doubt, ATOM is one of the most widely used cryptocurrencies. Because it’s a digital asset, it’s simple to buy, save, and sell. Most exchanges, including our recommended crypto broker eToro, support ATOM.

To sell ATOM on eToro and other brokers’ platforms, you must close positions. You may withdraw to your local bank account after exchanging the asset for USDT or your native country’s fiat currency. ATOM may be stored in a hardware wallet or a software wallet. It is secure to the extent that the owner is conscientious and worried about safety.

If you want to buy a cryptocurrency, you should do it after doing research and not on the spur of the moment. As the adage goes, only invest what you can afford to lose. This article may be used as a reference guide if you want to invest in ATOM in the future.

FAQs

Where To Sell ATOM

In this post, we recommend selling ATOM via an exchange since the transaction has been verified to be safe. Selling may be done in a number of ways.

How Easy Is It to Sell ATOM?

You may sell your ATOM in minutes with just a few clicks if you use a broker like eToro. On the exchange, there are also withdrawal options.

Which Brokers Are The Best For Selling ATOM?

ATOM may be purchased via a number of different brokers. Expert traders who have researched the options, on the other hand, think the following to be the best. The exchanges include eToro, Capital, Libertex, Plus500, Coinbase, Binance, AvaTrade, Revolut, Cryptorocket, and Changelly.

What Are The Tax Implications Of Selling ATOM?

Taxes on cryptocurrency sales differ by nation, so check your local government's website for more details.

Where Can I sell ATOM For USD?

To sell your ATOM for USD, you'll need an exchange that accepts payments from your local bank or a third-party payment source. Some of the best alternatives are eToro, Coinbase, AvaTrade, and Binance.

ATOM Is Traded On Which Exchanges?

eToro, Libertex, Capital, Coinbase, Plus500, AvaTrade, Binance, Cryptorocket, Revolut, and Changelly are some of the exchanges where ATOM may be purchased.

How To Sell ATOM Quickly

To sell your ATOM quickly, you'll need an account with eToro or one of the other exchanges indicated above. It takes just a few minutes to set up your account. If you already have ATOM, you may sell them right now by transferring them to the exchange's wallet.

How To Make Money Selling ATOM

To sell ATOM for fiat, you need to integrate a withdrawal channel on eToro or any other exchange. Make sure you've chosen the currency you want to use. When you make a withdrawal, the exchange helps you convert your funds to cash and puts them in the proper channel.

How To Sell ATOM On PayPal

Only four cryptocurrencies are supported by PayPal: Bitcoin Cash, Ethereum, Bitcoin, and Litecoin. However, any of the supported cryptocurrencies may be used to purchase ATOM.

What Is The Best Way To Sell ATOM From Your Wallet?

Some wallets let you immediately sell your ATOM. You must integrate a payment mechanism and complete the required processes to sell ATOM on the wallets.

How To Exchange ATOM For Other Cryptocurrencies

You can frequently swap your ATOM for other cryptocurrencies on platforms like eToro and Coinbase. After you complete an exchange, the true value of ATOM sold shows in your portfolio.