How to Buy Amp (AMP) Right Now • Cryptocurrency • Benzinga

Want to jump straight to the answer? You can buy AMP on Gemini.

Amp (AMP) is a digital collateral token that aims to make instant, irreversible transactions possible. Amp supports a wide range of protocols and use cases, including the Flexa Network.

If you’re interested in learning more about AMP and adding this token to your portfolio, our beginner’s guide will make investing easier. 

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 252nd largest cryptocurrency project when measured by total market capitalization. It has a daily trading volume of about $983,000 and a total market capitalization of over $119 million. 

Step 1: Open an online account.

Before you can invest in most types of cryptocurrencies, you’ll need to open an account with a cryptocurrency broker. A crypto broker provides you with a trading platform that you can use to buy and sell cryptocurrencies, usually in exchange for a small fee or commission.

Though AMP isn’t the most popular cryptocurrency on the market when compared to major offerings like Bitcoin and Ethereum, there are still multiple exchanges that you can use to buy, sell and convert AMP. Some of the factors you might want to consider when comparing crypto brokers may include:

  • Access to other cryptocurrencies: If the only crypto you’re interested in trading is AMP, be sure that the brokers you’re considering opening an account with support AMP. If you want to create a more diversified crypto portfolio, it can be helpful to create a list of cryptos you’re interested in investing in and cross-referencing it with each broker’s list of supported coins and tokens.
  • Commissions and fees: Almost every crypto broker will charge you a fee or commission when you buy and sell crypto using its platform. If you’re a frequent investor, these fees can quickly cut into your profits. Be sure that you understand both your broker’s fee schedule and any additional account maintenance fees they charge so you can most accurately calculate your profits.
  • Local availability: Not every broker is able to provide cryptocurrency support in every state and country. Be sure to check the broker’s availability and local restrictions before you open an account.

Not sure where to begin your search for the right broker? Consider a few of our top choices below.