Did you hear about all the great apps coming to the Cosmos ecosystem? Did you just warp into the Cosmos to check it out?
Welcome!
Are you wondering where to go and what to do?
Here are the first 10 things any new Cosmonaut can do to get a head start.
One
Set-up a Keplr Wallet.
Start with setting up a Chrome extension Keplr wallet, because you will receive the full-featured version. However, a mobile version is available as well, but it does not have all the features.
Where to download - https://www.keplr.app/
Watch a video -
Two
Buy ATOM at your favorite central exchange and withdraw it to your Keplr Cosmos wallet address.
Fortunately, ATOM is available on many central exchanges worldwide and these are still the most common places where fiat on-ramps exist.
Where to buy ATOM - https://messari.io/asset/cosmos/markets
If you are coming from Ethereum or another EVM chain, swapping ETH for ATOM is another great option. One way to do this is to use the Sifchain DEX, where you can connect both your MetaMask wallet and your new Keplr wallet.
Sifchain DEX - https://sifchain-dex.redstarling.com/#/swap?from=ceth&to=uatom&slippage=1.0
Three
Deposit some ATOM onto the Osmosis DEX.
Make sure to leave behind a couple of ATOM for gas payments (now and in the future) and for staking (see below).
Osmosis DEX - https://app.osmosis.zone/assets
Watch a video -
Four
Swap some of your ATOM to OSMO in Osmosis. While trades (swaps) are free on Osmosis, you will want to have OSMO in your Keplr Osmosis wallet to pay for gas fees for withdrawing any tokens you swapped into, staking OSMO tokens, or transactions for the liquidity pools.
Osmosis DEX - https://app.osmosis.zone/
Five
Stake some of your new tokens! Go to the Keplr Dashboard, click on Cosmos Hub, and then Stake your ATOM.
Depending on your budget, stake at least 10 ATOM. Airdrops are regularly given to ATOM stakers. These are a wonderful opportunity to interact with and learn about new dApps, without having to first invest your own funds.
Keplr Dashboard - https://wallet.keplr.app/#/dashboard
Watch a video -
Six
Choose a Validator and do so wisely. Unfortunately, Keplr’s Dashboard only shows Voting Power; however, try to choose your validator based on excellent Uptime (99%-100%), Participation (governance proposals voted on), and Commission, in that order. I believe that a commission of 5%, with a maximum of 10% is reasonable.
Mintscan has many statistics for all the blockchains in the Cosmos: https://www.mintscan.io/cosmos/validators
But, my favorite place for analytics (and one of my favorite validators) is Smart Stake: https://cosmos.smartstake.io/
Personally, I prefer to delegate to validators that are active in the communities and contribute; however, this is not a requirement. Once you get acquainted with those, you can always redelegate your staked tokens. You do not have to unstake.
Seven
Also, stake tokens at other blockchains and help secure the networks. I have many favorites; however, at a minimum include OSMO, JUNO, and SCRT tokens. If your budget allows for it, start with $100 worth of tokens for each. This will get you on your way to earning staking rewards, participate in governance votes, and qualify for airdrops.
These can all be swapped into from ATOM on the Osmosis DEX and withdrawn to their respective Keplr wallet addresses. Again, make sure you leave a few tokens behind for gas fees at each wallet address.
Eight
Explore the Cosmos ecosystem by visiting different blockchains. At the time of this writing, there are 49 sovereign blockchains.
Mintscan - https://hub.mintscan.io/overview
Map of Zones - https://mapofzones.com/
Nine
Learn about airdrops and track your future eligibility.
Airdrops.one - https://airdrops.one/
CosmosPug - https://cosmospug.com/airdrops/
Cosmos Airdrops - https://www.cosmosairdrops.io/
Ten
Visit the burgeoning NFT marketplaces and from there link to the communities being created around the art and the creators. While relatively new for the Cosmos ecosystem, NFT’s are gaining momentum and the associated communities are growing fast.
Stargaze - https://app.stargaze.zone/marketplace
Passage3D - https://market.passage3d.com/
Omniflix - https://omniflix.market/home
Stashh - https://stashh.io/collections
Knowhere - https://knowhere.art/
Talis - https://talis.art/
MantlePlace - https://marketplace.assetmantle.one/
Loop - https://nft.loop.markets/
With these ten steps, you are off and running in the Cosmos. The ecosystem is vibrant, growing, and has many great communities and people eagerly sharing and willing to help.
I can also be reached here:
Twitter - @KaasKop_Opa
Medium - https://medium.com/@KaasKop_Opa
Loop - https://www.loop.markets/user/52879
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Hey, thanks heaps for this awesome guide for people to get started in the Cosmos. I'm glad we have found you here on Leofinance now, and I'll be keeping an eye out for future posts from you.
Also, because I really want to see more Cosmos eco-system content creators come to Leofinance, I've sent you a little delegation of LEO Power as an encouragement. This means you will be able to upvote content and earn a little curation rewards also.
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Thank you so much, @jk6276! Those are motivational words.
I will take your encouragement to heart and spread it.
Good info! I have some ATOM staked on my Keplr wallet but that is as far as I have gone. Definitely some other useful things here.
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Well done Opa, this post did really well and has some great info. COSMOS is a fine blockchain.
Here in South Africa Kaaskop is slang for skinhead or clean shaven head hehehe, and Opa means grandfather.
Following your profile.
Best wishes from South Africa
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Haha. I am originally from the Netherlands and there I am a cheese head. I love Dutch cheeses, of course.
And yes, Opa is what my granddaughter calls me!
Thank you for the compliment, @julianhorack!
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There are some super helpful links here. I'm having this bookmarked :)
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Thanks for this excellent information on how to get rolling on Cosmos
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Definitely and this will definitely go a long way to helping as to getting some cosmos
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Thanks for that! I've been doing a few things, like get the Evmos airdrop but some of it is still chinese, and I thought I knew things haha. This helps loads!
And eh...@kaaskop? Hollander? 😆
Absolutely - born and raised in the Netherlands and "kaas" is my greatest weakness. I have been all over, but I am currently living and working in America. I am happy the tips helped a lot.
Evmos is definitely one of the more complicated projects, but worth the extra effort. Staking $EVMOS comes with some good rewards.
So I am understanding that I need to go back and pay more attention to this post...
When posts are long and about other chains I come to the comments first...
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Thanks for the heads up here, great post. I'll be referencing this for sure in the near future, Cheers!
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What would you say would be a good initial investment (I saw the number 100) but then there are other tokens to be bought and gas fees to be left. And what kind of growth would you predict would be projected of that investment.
Projected, not expected, for example that my HBD will grow by 20% and that we are wanting for it to be always worth 1.00 USD, however there are no guarantees.
Thank you for your time.
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I can only tell you what I did (you know all that NFA mumbo jumbo).
I started slowly with 10 ATOM and gradually increased from there. I am not a high roller, but I love to explore and experiment. As far as the other Cosmos tokens is concerned, they have been pretty cheap lately, so I have been cautiously adding JUNO, SCRT, SHD, OSMO, ROWAN, and EVMOS.
Due to overall malaise in the economies across the world, I believe that growth expressed in terms of token prices is going to be slow or flat for the near future. I think that people are hoarding fiat currencies to guard against inflation now and recessionary forces in the coming months and year. Growth in terms of building new chains, protocols, and dApps is another story. The Cosmos is buzzing with activity!
Finally, gas fees are not an issue in the Cosmos, because they have been steady at just a few pennies.
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Thank you!
I am adding this to my list of interest projects.
Low gas fees are good, but I just get greedy and don't want to pay them!
Very nice post and Top 10 things to do when joining the COSMOS ecosystem.
I wonder which ecosystem is more attractive apart from Ethereum...
AVAX, COSMOS, SOLANAm FANTOM. OPTIMISM, HARMONY... Hard to pick!
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I know, we have so much great tech to explore!
And, I will add Arbitrum and Near to your list ;-)
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Excellent post @kaaskop! As an enthusiastic cosmonaut myself, since the launch of Osmosis, I still found some new material in here to check into, so it was a very welcome discovery this morning to find @leoalpha had recommended it. And your work ...
What is your impression of the new EVMOS ecosystem? Compared to SifChain? I have appreciated how easy it was to transfer USDC into it from Connext and transact from there. I hope it lives up to the expectations.
Keep up the great work!
P.S. Now following ...
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I have also really enjoyed following the growth of the Evmos chain after the restart. Many new dApps are rolling out and some are really interesting. I have had some delays with reward claims, but found an alternate front-end which seems very fast: https://evmos.disperze.network/welcome
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Good to hear! And thanks for passing this tip along. I will check it out.
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Didn't get very far ...
I delegate to 7 ... 🤷♂️
Thanks anyway!
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Great one here and good to see such guidelines about acquiring cosmos
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