How to transfer tokens to Cosmos Blockchain simply

If you want to transfer tokens to the Cosmos ecosystem as well as many chains in the Cosmos Hub but don't know how to go about it, this article is for you.

trangtran.c98

Published Jun 03 2022

Updated May 23 2024

4 min read

Transfer tokens to the Cosmos Blockchain

Cosmos network consists of many independent, parallel blockchains, with each owning its particular chain. These features can bring back a lot of advantages as well as many technological innovations. However, users will get stuck when transferring assets between those chains to skin in the whole ecosystem.

In the following section, I'll go into details on which way is the simplest to transfer the token.

After buying tokens and having a Cosmos wallet, you can participate in events or skin in the game in the Cosmos Ecosystem, such as joining lending, yield farming or staking activities on this chain.

I'll walk you through the process for the two methods listed above.

Option 1: Buy tokens on CEXs & withdraw to a Cosmos Wallet

Transfer and withdrawal fees will vary depending on the exchange. If you want to transfer your assets, you should pick the CEX that is most convenient for you to use. I'll recommend a few popular exchanges here, such as Coinbase, KuCoin, Huobi, Gate, Crypto.com etc.

To begin with, you'll need USDT or USDC stablecoins in order to purchase. US dollars (USD) or other currencies in your country can be used to buy USDT if you don't have any stablecoin yet.

Step 1: Login to the Binance Mobile App. I recommend reading this "How to use Binance'' article.

Step 2: Choose “P2P Trading” on your Binance Homepage.

Step 3: In this step, you will see:

Number 2 indicates which fiat currency you have now to buy USDT.
Number 3 indicates which token you want to buy (e.g. USDT, BTC, BUSD, etc.).
Number 4 displays a list of sellers who will sell you USDT in exchange for your fiat currency.

After you've decided on your preferred sellers, simply follow Binance’s instructions to complete the transaction (Remember to read the instructions carefully).

Now that you already have USDT, you can purchase ATOM directly from any exchange, such as Binance, Kucoin, Gate, etc. and transfer the tokens to your wallet address by doing as follows:

Step 1: On any CEX, use USDT to purchase ATOM.

Step 2: Transfer ATOM to the Cosmos wallet through your wallet address.

Option 2: Use a DeFi Aggregator protocol to transfer tokens to Cosmos

Users can optimize their transactions by using an aggregator, which gathers the best rates from across the DeFi ecosystem, including DEXs, lending services, and liquidity pools.

Rango is a multichain aggregator platform for DEXs and bridges, seeking out the fastest, cheapest, and the most secure route for the best user’s experiences. Rango now supports more than 20 blockchains, 10+ bridges/DEXs, and 6 different wallets, with the current most modern and user-friendly UX in the market.

In this part, I'll show you how to deposit and withdraw tokens to the wanted blockchain via Rango Exchange.

Step 1: Go to Rango Exchange’s website, click Connect your wallet.

Step 2: Select the From chain and select the token you want to transfer.

Step 3: Select the To chain and the token you want to receive.

Step 4: Click “Swap” and then wait for the transfer to complete.

Skin in the game with Cosmos blockchain

As Cosmos has set out to be one of the most prominent blockchain within its four year inception, many missing pieces of the entire infrastructure have rapidly been filled.

Even throughout bull and bear markets, projects in the Cosmos ecosystem are making considerable attempts to reach out the prosperity of the crypto space, which is showing signs of positive development.

Keeping an eye on this ecosystem will give you many opportunities to skin in Cosmos, as you will be updated with the most recent significant changes in each network.

If you're interested in learning more about the Cosmos blockchain and the investment opportunities it offers, I recommend checking out this article. Hopefully, this will be beneficial to you!

Learn more: Cosmos Ecosystem Overview

To skin in the game in the Cosmos ecosystem, users can use following ways:

Airdrop

As most of all blockchains on Cosmos use the PoS model, tokens on these blockchains can be staked.

You can stake ATOM and OSMO with validators and have a chance to receive airdrops from projects developed within the ecosystem. Many ATOM owners have made a lot of money simply by holding and staking ATOM or OSMO.

Early adopters

Of course, as more and more products are built on the Zones, you may be able to benefit retroactively from being early adopters/users or having skin in the game by participating in testnet and providing feedback to projects. I believe your efforts will be rewarded if you truly contribute to the project's development.

Make sure you don't miss out on the slew of airdrops scheduled for 2022. Some of the most innovative projects in the Cosmos ecosystem, ranging from NFTs to decentralized social media, DeFi to gaming, will go into production next year.

Keep an eye out for Evmos, Umee, Gravity Bridge, LikeCoin, Game, Stargaze, BitSong, and Cyber airdrops, and remember to stake your ATOM with Cosmos validators to be eligible.

Learn more: Airdrop Retroactive - The best returns with minimal investment.