Collateral coins are not as popular as other cryptocurrencies, but they represent an excellent addition to the current crypto system worldwide. AMP is a collateral cryptocurrency under the Ethereum network, and people are starting to talk more about it daily.
Nonetheless, you can’t invest in AMP if you don’t know how to buy it, so read this page to learn how to buy AMP!
- 1 AMP Tokenomics
- 2 Where to Buy the AMP Token
- 3 Now let’s buy some AMP Token
- 4 How to Buy AMP with PayPal
- 5 How to Buy AMP with Credit Card
- 6 Safe Storage
- 7 Alternate Ways to Buy AMP
- 8 How to Invest in AMP
- 9 Conclusion
Understanding the tokenomics of the cryptocurrency you want to get is essential to know if investing in it is the best thing you can do. However, many get confused since they don’t know what to look for when it comes to tokenomics.
This cryptocurrency works under a staking process instead of a mining one, and the rudimentary staking system it uses makes it more straightforward than modern algorithmic platforms that work with several instruments and artificial constraints.
Thanks to that, users that are not that invested in crypto can access AMP as a cost-effective, stable, and self-sustainable collateral coin.
As we mentioned before, AMP offers decent utility because of its liquidity value. Transactions that would make the receiver lose a lot of money are covered by liquidating this collateral coin, which makes them lose less money or not lose anything at all. The vendor of unsuccessful transactions gets that payment in fiat currencies.
While other crypto platforms try to fix some cost issues by burning tokens, AMP developers mean to do the opposite and stick to open market repurchases. Rather than burning tokens, Flexa uses smart contracts and staking to increase the utility AMP has on the market.
This cryptocurrency doesn’t have an unlimited supply as other cryptocurrencies, and its total supply is capped at 100 billion tokens. Numbers may vary over time, as happens with all cryptocurrencies, but AMP is meant to be low-volatile crypto, so don’t worry about that.
Where to Buy the AMP Token
The process to get AMP tokens is similar to the one you follow with all cryptocurrencies since most of them require you to choose a crypto trading service or venue for the matter. Many are hesitant to buy tokens from crypto trading services due to all the scam websites online that only steal your money from you. Therefore, we recommend you stick with the mainstream ones.
If you are looking for the easiest way to buy crypto tokens, you should turn your eyes to cryptocurrency exchanges, brokerages, and payment services. Coinbase is one of the most popular online platforms for buying, selling, or storing cryptocurrencies, but it’s not the only one out there.
Best Place to Buy AMP
As we mentioned before, Capital.com is the platform you can use to get AMP tokens in 2022. This is not something you can say lightly, and we know it because we’ve tested it and tried many other crypto exchanges before.
The reason for it is how simple it is for beginners to understand how the platform works, which makes it accessible for everyone regardless of how skilled they are at trading or how much they know about buying crypto.
Here is a step-by-step guide on how to buy AMP through this app:
Step 1: Open an Account
First, go to the Capital.Com website and click the open account button if you don’t have an account yet. You can also click the “Trade Now” one since it leads you to the registration process if you can’t log in directly.
Step 2: Fill out the information, then Click “Continue”
Clicking “Open Account” or “Trade Now” opens a registration form you need to fill out to go on with the registration process. Here, you need to submit your email address and password. If you feel more comfortable doing it, you can sign up using your Google, Facebook, or Apple account.
People who chose filling out the form need to click “Continue” after submitting their email address and password.
Step 3: Add Personal Information
Submitting your email is the beginning of the process, and you need to add some personal information to go on. There’s no need to worry about this since the app only requires you to tell it what you would tell any other app.
The first thing you need to type is your name, middle name, surname, and date of birth. After clicking “Continue” again, you will have to specify your country, nationality, and place of birth. Then, click “Continue” and “Complete Registration” to finish your registration process.
Step 4: Identify Yourself
Although you already finished the app’s registration process, you still need to verify it to start buying AMP tokens. Capital.com needs you to submit an identity document such as an ID card, driver’s license, or passport to make sure you are who you claim to be. Additionally, go through the platform’s liveness-detection test.
Now let’s buy some AMP Token
Do you already have an AMP account? Then, it’s time to start buying AMP tokens. We want you to fully understand this process, so you can find another guide on how to buy AMPs through Capital.com below.
Step 1: Search for AMP Token
The first thing you need to know to buy AMP tokens is to go to the Capital.Com website and log in. You are going to see a lot of features and graphs once you sign in, but you can ignore them for the time being since you need to turn your attention to the search bar and type “AMP” or the name of the cryptocurrency you want to buy.
Step 2: Open a Trade
When you type the crypto or asset you want to buy on the search bar, an “Open Trade” option shows up. Click that option.
Steps 3&4: Select the amount and Buy
Once you click the “Open Trade” option, a graph for that specific currency pops up to show you how the asset is doing. There is a tab next to that graph that allows you to select how many tokens you want to buy. Pick a number and click “Buy.”
You can buy all the tokens you want, but we recommend you start slow if you are new to cryptocurrencies.
Step 5: Fund Your Account
It may seem obvious to some people, but you can’t buy cryptocurrencies if you haven’t funded your account. Therefore¸ clicking “Buy” leads you to a tab that helps you fund your account. This tab lets you select your payment method, the currency you are using to pay, and how much money you want to invest.
If you are paying through debit or credit cards, you also need to submit the name on your card, its expiration date, and card number. You will finish the transaction once you click “Deposit.”
How to Buy AMP with PayPal
Some apps do allow you to pay for AMP tokens through PayPal, and Capital.com is one of them. The process to create your account is the same since the only thing that changes is the payment method you click when funding the account.
Choose PayPal when funding your account, and submit your login information for the app to confirm you are the holder of that money. Selecting how much money you want to invest in AMP tokens also works the same, so don’t worry about that. Other platforms, such as Finder and Crypto.com, also allow you to fund your account with PayPal.
How to Buy AMP with Credit Card
As you read in the step-by-step guide on how to buy AMP through Capital.com, the only thing you need to do is select “Credit or Debit Cards” when funding your account and submitting your card information to go on with the transaction.
This works the same with other crypto exchanges and trading bots since almost all of them allow you to pay with fiat money.
You need to get a crypto wallet to store your assets regardless of the crypto you want to buy, so make sure to find one you feel comfortable using. Most crypto wallets are free, but not all of them offer the same features. Some of the crypto exchanges we talked about on this list also allow you to store your cryptocurrencies or at least link your wallets to the website.
When you get a crypto wallet, you also get two keys; an access key and a signing key. The former is for accessing your funds and the signing one for making crypto transactions.
You can’t recover these keys once you get them, so the best way to keep your account from getting hacked is by not sharing them with anyone.
Alternate Ways to Buy AMP
While PayPal, credit, and debit cards are the most popular ways to buy AMP tokens, there are alternate ways to do it. You should know that there’s no way to buy AMP tokens without an ID or registration.
The reason for that is most trading apps need to verify your information before allowing you to trade with them, and if they don’t, your credit or debit card still holds your information. Here are some alternate ways to buy AMP:
There are several “Crypto ATMs” worldwide that allow you to access a crypto network to buy digital assets. You could use them if there’s one close to you, but we don’t recommend doing it since they are not trustworthy, and some countries have even banned them.
Unlike the previous option on the list, P2P exchanges are more common for people, and you shouldn’t be afraid of using them. Binance, Coinbase, and Uphold are some of the most popular crypto exchanges out there. The three of them work as crypto wallets, too.
Opening an account for a mainstream brokerage gives you the option to buy cryptocurrencies with no problem, and Capital.com is the perfect example of these platforms. There are other options available for you, though. Some of them are Fidelity Investments, TD Ameritrade, and Interactive Brokers.
How to Invest in AMP
Investing in cryptocurrencies is not that complex, and you already know most of the process if you read this article. Once you buy the token you want to invest in, you only need to wait for its price to go up to sell it and get a successful trade.
Doing that is the easiest way to trade, but investing in AMP and other collateral coins is better by staking. This process consists of leaving your funds in a staking pool for them to be used for other things by the blockchain system.
Buying AMP tokens is not that complex once you get into it, so you should be good to go as long as you follow the steps given on this page. However, we recommend you use the Capital.com method since it’s one of the most effective and reliable ones on the list.