How to become a millionaire by buying Cosmos.
ATOM is the native token of the Cosmos Hub blockchain, which is part of the Cosmos ecosystem. Despite the impressive rise of the crypto market in recent months, it still trades 80.8% below the all-time high reached in January 2022.
Large-scale price drops often cause newcomers to panic and hastily sell tokens. However, experienced traders consider such events as an opportunity to form a reliable medium or long-term portfolio and buy the coins they are interested in at a discount.
Let's find out how much you need to invest in ATOM now to become a millionaire during the bull run.
How the Cosmos ecosystem works
Cosmos is a decentralized and scalable ecosystem that provides connectivity between two or more independent blockchains, allowing them to interact with each other. Because of this, it is often called the âInternet of Blockchainsâ.
The first and main blockchain launched in the Cosmos ecosystem is called Cosmos Hub. It works as a link between all independent networks. Cosmos Hub's native ATOM token provides support and protection. ATOMs can be staked by delegating them to any validator of your choice and receive rewards for doing so.
How many ATOMs do you need to buy to become a millionaire?
To calculate the number of tokens you need to buy to become a millionaire when ATOM returns to its all-time high, you can use the following formula:
ATOM Quantity = Target Value / Expected Future Price,
Where:
Target value: US$1 million
Expected future price â all-time high of US$44.45
So, to see a round sum of $1 million in your account, you need to buy 22,489.89 ATOM. At the current price of $8.54, the coins would be worth approximately $192,063.
