Want to jump straight to the answer? You can buy AMP on Coinbase, Binance and Crypto.com!
amp
Amp
$0.00386539*
*prices delayed up to 10 minutes
+2.00%
24H
Buy Amp
AMP is a cryptocurrency designed to enhance the speed and security of digital transactions, particularly in the realm of decentralized finance (DeFi) and payment systems. It functions as a collateral token, allowing users to lock up AMP to guarantee the value of transactions on the Flexa network, which facilitates instant payments at various retail locations without the need for intermediaries. By providing collateral, AMP helps mitigate the risk of transaction failures or price volatility, making it an appealing option for merchants and consumers alike. Its unique approach to securing payments positions AMP as a vital player in the evolving landscape of cryptocurrencies and the push toward a more efficient digital economy.
If you’re interested in learning more about AMP and adding this token to your portfolio, our beginner’s guide will make investing easier.
How to Buy AMP
Follow this step-by-step guide on how to buy AMP successfully.
1. Open an Online Account
Before you can invest in most types of cryptocurrencies, you’ll need to open an account with a cryptocurrency exchange or crypto broker that supports AMP. Though AMP isn’t the most popular cryptocurrency on the market when compared to major offerings like Bitcoin and Ethereum, there are still multiple platforms that you can use to buy, sell and convert AMP including Coinbase, Binance, Crypto.com and Gemini.
Once you’ve selected a reputable platform, go to its website or download the mobile app, and look for an option to sign up or create an account. You’ll be prompted to provide basic personal information, such as your email address and a password. After this, you may need to verify your identity by submitting personal documents like a government-issued ID and proof of address, in compliance with Know Your Customer (KYC) regulations.
2. Fund Your Account
To deposit funds into your account, go to the “Deposit” section. This section is typically located in your account settings or wallet area. Depending on the platform, you can deposit fiat currency like USD or EUR, or cryptocurrencies like Bitcoin or Ethereum.
For fiat deposits, link your bank account or use a credit card/debit card. Follow the prompts to complete the transaction.
If you are depositing cryptocurrency, you will receive a wallet address specific to the currency you wish to deposit. Copy this address and use it in your external wallet to initiate the transfer.
Always double-check your details to avoid losing funds. Keep in mind any transaction fees and deposit times that may apply to your chosen cryptocurrency exchange.
3. Purchase AMP
When you’ve fully created and funded your account, you can place an order to buy AMP. Open the trading platform and choose the type of order that you’d like to use to buy AMP. Take a look at the current price of AMP and decide if you believe that the price will move up or down. Then, select an order type. Most brokers will provide you with a multitude of order types, but the most commonly used orders are:
- Market orders: A market order executes immediately at the current market price, offering less control over the price paid but ensuring quick order fulfillment.
- Limit orders: A limit order instructs your broker to buy an asset at a specified price or lower. The order is executed if the broker can purchase the asset at or below that price; otherwise, it remains unfilled.
Once you’ve decided what order type you want, place a buy order for the amount of AMP tokens you wish to purchase. Make sure that you thoroughly verify the order details prior to finalizing the transaction.
What is Amp?
AMP is an ERC-20 token. An ERC-20 token is a project built using the Ethereum blockchain. Independent ERC-20 projects can be used to power a variety of protocols, using Ethereum’s smart contract system to execute agreements according to predefined characteristics. ERC-20 tokens have the benefit of a wider range of storage options and more compatibility between projects when compared to independent blockchain projects like Bitcoin and Litecoin.
Brief History of Amp
Introduced in 2020, AMP is a digital collateral token that can verify transfers of value among different asset types. Projects can use Amp to secure transactions and build networks that are able to initiate and execute transfers instantly and without interference. The AMP token is open-source and decentralized, which provides more potential for the integration of new assets and value transfers.
Amp is currently the 148th largest cryptocurrency project when measured by total market capitalization. It has a daily trading volume of about $15.9 million and a total market capitalization of over $311 million. AMP token is trading for around $0.003858 as of Sept. 2, 2024.
Where to Buy AMP
The best trading platform varies based on the investor’s needs. Several popular and reputable exchanges are available for trading AMP. Consider these options to begin your crypto trading journey.
How to Store Your AMP Tokens Safely
You can typically choose from two types of private crypto wallets. Hardware wallets are physical devices that store your coins and tokens offline, while software wallets allow you to store your investments online through a software application. Although hardware wallets will incur more of an upfront cost, they provide superior protection because they keep your coins in cold storage.
Explore a few of our favorite wallet choices for ERC-20 tokens like AMP below.
- Best Hardware Wallet: Ledger Nano X
Long considered the gold standard for cryptocurrency cold storage, the Ledger Nano X provides investors with a private set of keys to store Bitcoin, all ERC-20 tokens and many additional assets offline. Your private Ledger key remains safe in a secure chip, and you can assess and access your investments wherever you go. The Ledger Nano X connects with the Ledger Live app for sending and receiving coins and tokens. It also allows the installation of up to 100 decentralized applications (dApps), making it useful for those interested in decentralized finance.
- Best Software Wallet: Coinbase Wallet
Coinbase is one of the internet’s largest cryptocurrency marketplaces — and its newly introduced Coinbase Wallet makes it easier to manage your investments on-the-go. The Coinbase Wallet is a software program that provides you with complete support for Bitcoin and any type of ERC-20 project. The Coinbase Wallet allows you to send crypto to other users without memorizing a long wallet address — simply enter a name and transfer crypto in just a few minutes.
Trade or Sell Your AMP Tokens
When you see your tokens in your exchange wallet, your next step is to decide how you want to earn a return on your investment. These are primary strategies you can use to earn a return on your AMP investment:
- Long-term holding and selling: If you believe that the price of AMP will increase over the course of months or years, you may want to take a long-term approach and hold your investment. Long-term holders typically store their tokens in an off-exchange wallet for the highest possible level of safety.
- Active trading: Traders can also capitalize on short-term price movements by strategically buying and selling AMP on their exchange of choice. When you decide to take profits, you can convert your AMP to a stablecoin like Tether or directly back to a fiat currency depending on your broker.
No matter which strategy you choose to take, you’ll want to monitor the price of AMP and how it’s changing regularly.
Current Crypto Prices
The cryptocurrency market can be exceptionally volatile. Monitor how the market is changing today with our chart below.
The Future of AMP
Though Amp’s network is currently not one of the most popular cryptocurrency projects currently trading on major exchanges, it still retains a positive investor sentiment for the future. If you’re thinking about investing in AMP, you may want to diversify your portfolio with other types of Ethereum-based token projects, like Chainlink or AAVE.
Frequently Asked Questions
A
AMP coin is built on the Ethereum blockchain, enabling integration with decentralized finance applications. It has cross-chain functionalities, allowing it to expand its use and serves as a digital collateral token to enhance security and liquidity for transactions across various platforms.
A
Investing in AMP crypto can be beneficial for those looking to diversify in the cryptocurrency market. As a collateral token that improves transaction speed and security, AMP is particularly appealing for DeFi applications and is integrated with the Flexa network for instant cryptocurrency payments in retail. However, it is subject to market volatility, so investors should research carefully and assess their risk tolerance. AMP’s long-term success depends on broader adoption and market trends.
A
Yes, you can buy AMP on Coinbase.
