How to buy Amp online

Amp is an Ethereum token designed for the Flexa Network. It’s used as collateral for payments, ensuring they’re fast and secure. 

This guide will take you through the ins and outs of AMP and how you can buy AMP token online. 

Best platforms to buy AMP – 2021

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What is AMP?

Amp is an Ethereum token that aims to collateralize payments on the Flexa Network. It makes payments instant and secure. Should an ETH or BTC payment fail, the Amp collateral is then liquidated to cover any losses. The vendor would then receive payment in fiat, which provides greater assurance for both parties. 

The AMP token was created by Flexa Network. Flexa Network allows payments with a cryptographic guarantee. This means that individuals can use their cryptocurrency to pay for items, whilst the provider receives payment in fiat currency. For example, an individual could buy a product online with 0.1 ETH and the provider will receive $315.

The token was released in 2020 and was funded and researched entirely by the Flexa Network. It’s open-source and decentralized. It secures transactions, allowing them to be executed without interference. Being decentralized, its potential to integrate with new assets and value transfers in the future is increased dramatically. 

This solves several issues that we commonly see in the crypto market. Firstly, it speeds up confirmation times across networks, making it easier for individuals to make transactions. It also solves the issue of price volatility. The crypto market is known for volatility and big wins (as well as very high risk). With Amp, volatility is less of an issue. These two allow for a wider integration of cryptocurrency within society. Should it be adopted on a mass scale, Amp would allow for shops, businesses and individuals to accept crypto as a payment that could be converted into fiat. 

The main downside of AMP is that it needs to be adopted into the mass market to have real value. Without being used, its value is worthless. Flexa needs to convince merchants that their system is not only safe, but worth the investment. Although this is possible, it does make AMP riskier than other cryptocurrencies. 

Despite the risks, investors are currently optimistic about the long-term potential of Amp. In September 2020, the token was trading at a penny and later in the year, it was even lower. However, Amp has seen a growth of more than 1000% in 2021. This growth has been linked to the increased awareness and adoption of cryptocurrency, as well as cryptocurrencies that serve a purpose. 

As of August 2021, Amp is rated the 49th largest cryptocurrency project, with a market capitalization of $2,591,298,794. The token costs $0.06 with 42.23 billion in circulation. It has a maximum supply of 92.5 billion and a fully diluted market cap of $5,677,851,743. 

Buy AMP now at our preferred partner

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

How does AMP work?

Amp offers a straightforward solution to the complexities of the crypto world. Using a system of collateral partitions and collateral managers, it allows vendors to accept payment in crypto and receive it in their chosen fiat currency. Collateral partitions carry balances that are verifiable on the Ethereum blockchain, whilst collateral managers are smart contracts that lock, release and redirect collateral. This makes it safe and easy for vendors to complete transactions using cryptocurrency. 

Amp currently supports a range of uses for collateralization. It enables special capabilities such as unique collateral models in which tokens can be staked without ever leaving their initial address. 

AMP tokens are currently listed on several popular crypto exchanges. However, unlike many cryptocurrencies, they cannot be purchased with fiat money. Instead, buyers must first purchase Bitcoin using any fiat-to-crypto exchange, then transfer their Bitcoin to buy AMP tokens. This means that while Amp itself is making crypto more accessible, trading AMP tokens could be seen as complex to new investors. 

Now that you know what AMP is and how it works, you can use one of the brokers above to buy AMP. However, if you’re still unsure on how to get started, continue reading!

How to buy AMP online

As you cannot buy AMP with fiat money, the process to buy AMP is a little different. 

Here’s a step-by-step guide on how to buy AMP online:

  1. Before you can buy AMP you need an exchange account. Begin by signing up to any popular fiat-to-crypto exchange. These include Uphold, Binance and Coinbase.
  1. Make sure your account is funded and purchase Bitcoin (BTC). Transfer your Bitcoin to an Altcoin Exchange such as Gate.io and deposit. 
  1. Search for AMP in the exchange and select the coin you want to use to buy it. Click on the number of tokens you want to buy and click ‘Exchange’.
  1. Make sure the tokens are in your account and put them into an external wallet such as MetaMask to keep them safe.

Congratulations, you’ve just bought your first AMP!

Top platforms to buy AMP

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

How to trade Amp

The most common ways to trade Amp are AMP–BTC, AMP–TRX and AMP–USDT. Trading AMP Token is the same process as buying AMP, since you cannot purchase it directly with fiat money. 

Several commonly used exchanges are Gemini, Bittrex and Poloniex where 1 AMP token is equivalent to 0.00000139 BTC.