Originating on the Ethereum blockchain – AMP is one of a plethora of Defi tokens gaining popularity in this marketplace. As part of the famed ERC-20 tokens club, AMP is a collateral coin created to facilitate secure loaning and transfer of goods. The Flexa Network is the primary protocol currently using AMP for its operations.
This development has improved the popularity of AMP, and more interest is being generated on the potential of the token. So, if you are ready to learn how to buy AMP, get started on this page where we will explain all you need to know about purchasing the token.
Contents
- 1 How to Buy AMP: Quickfire Walkthrough to Buy AMP in Less Than 10 minutes
- 2 How to Buy AMP – Full Step-by-Step Walkthrough
- 3 Where Can You Buy AMP Online?
- 4 Ways to Buy AMP
- 5 Should I Buy AMP?
- 6 Risk of Buying AMP
- 7 Best AMP Wallet
- 8 How to Buy AMP – Bottom Line
- 9 Buy AMP Now via Pancakeswap
- 10 FAQs
- 11 How much is AMP?
- 12 Is AMP a good buy?
- 13 What is the minimum AMP tokens you can buy?
- 14 What is the AMP all-time high?
- 15 How do you buy AMP tokens using a debit card?
- 16 How many AMP tokens are there?
How to Buy AMP: Quickfire Walkthrough to Buy AMP in Less Than 10 minutes
If you are looking for a quickfire guide on how to buy AMP, this section is for you. Here, we will take you through how to buy AMP in clear, simple steps within 10 minutes.
Here you go:
- Step 1: Download Trust Wallet: To get started, the first step is to get Trust. You need a good storage option to perform most of the tasks required to reach your goal, and Trust Wallet is one of the best in the market. So, go to Google Play or the Appstore, download, and open the wallet.
- Step 2: Search for AMP: Once you have your Trust Wallet set up, you can look for the token by clicking on the search icon. The search tab is located on the top right corner of the screen. Input “AMP” and search.
- Step 3: Add Cryptocurrency Assets to your Wallet: AMP is a small-cap Defi coin, so you cannot buy it with fiat money. What you need to do is add cryptocurrency assets to your wallet. You can do this by sending cryptocurrency from another wallet or buying with your credit/debit card through Trust. Once you have the cryptocurrency in your Trust Wallet, you can now buy AMP.
- Step 4: Connect to Pancakeswap: The next step is to link your Trust to the Pancakeswap DEX and buy AMP. You can do this by clicking on ‘DApps’ on your Trust Wallet. Select Pancakeswap from the options provided and click on ‘Connect.’
- Step 5: Buy AMP: You can buy AMP once connected to Pankcakeswap. Start by clicking on ‘Exchange.’ Then, go to ‘From’ and select the coin you have in your Trust Wallet. Follow up by going to ‘To’ and choosing AMP.
Enter the amount of AMP you want to buy and click on ‘Swap.’ This final step will complete the process, and you have your AMP tokens to do whatever you want with.
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
How to Buy AMP – Full Step-by-Step Walkthrough
Our quickfire walkthrough will do precisely as the title implies; provide a concise, straightforward guide on how to buy AMP. However, beginners may not appreciate this conciseness as it may leave some questions unanswered.
Therefore, we will attempt to answer those questions comprehensively in this more detailed walkthrough of how to buy AMP tokens.
Step 1: Download Trust Wallet
The first step is pretty simple; you have to download a wallet. A wallet is central to the transactions you will be performing, and any investment in the cryptocurrency market requires you to have one.
The option we recommend for you is the Trust Wallet app. Trust Wallet is the leading option in the market and has admirable features to show for that position.
Download the Trust Wallet app on Google Play Store or Appstore and install it on your device. Then, open the app and follow the guide to set up your wallet. Setting up your wallet will require you to create a strong PIN and generate a 12-word passphrase. You can use this passphrase to retrieve your wallet in case of a loss.
Step 2: Add Cryptocurrency Asset to Your Trust Wallet
After setting up your Trust Wallet, you need to fund it. To fund a digital wallet, you need to add cryptocurrency assets such as BTC, ETH, and others based on your choice. The reason for doing this is because you cannot buy AMP directly with fiat money. You can only buy it through a crypto-to-crypto exchange.
This concept means that you have to buy the AMP token using another cryptocurrency. To do this, established cryptocurrencies such as BTC, ETH, BNB, and so on are your best options. However, there are two ways to add these coins to your wallet, and we will explain them below:
Send Cryptocurrency from an External Wallet
You can add assets to your Trust Wallet by sending them from an external source. This method will only work if you have another wallet that already has cryptocurrencies in it. If you do, follow this simple guide to send some of those cryptocurrencies to your Trust Wallet.
- Start by clicking on ‘Receive’ on Trust Wallet.
- Select the asset you intend to transfer to your Trust Wallet.
- The wallet will generate a unique address which you have to copy.
- Go to the other wallet and paste the copied address.
- Insert the amount of cryptocurrency you wish to transfer.
Confirm the transaction, and you will get your coins in your Trust Wallet within a short time.
Buy Cryptocurrency Using Credit/Debit Card
Buying cryptocurrency using your credit/debit card is the second option available for investors looking to purchase AMP. You can take this method if you do not have another wallet to transfer funds from. To know how to buy AMP using a credit/debit card, pay attention to the steps mentioned below.
- Open your Trust Wallet and click on ‘Buy.’
- Choose an established coin such as BTC or ETH to buy.
- You will have to undertake a Know Your Customer process. The KYC process is used to verify your identity so you can trade comfortably on the platform.
- To complete the KYC procedure, you need to upload a copy of a government-issued ID.
- Once the KYC process is done, enter the coin amount you wish to buy and confirm.
You will now see your newly purchased coins in your Trust Wallet.
Step 3: How to Buy AMP Through Pancakeswap
After funding your wallet with the cryptocurrency of your choice, the next step is to connect to Pancakeswap. Pancakeswap is a DEX where you can exchange your established coins for AMP tokens. Being a DEX, the exchange is highly suitable for decentralized finance coins.
Know how to buy AMP through Pancakeswap by following the straightforward guidelines below.
- Connect to Pancakeswap and select ‘DEX.’
- Select ‘Swap’ and follow it up by clicking on ‘You Pay.’ In this category, select the coin you want to pay with and the amount.
- Under the ‘You Get’ section, pick AMP from the options given in the drop-down box. It will display the swapping rates between the coin you own and AMP.
- Click on ‘Swap’ and confirm the transaction.
You will receive your AMP tokens in your wallet shortly after.
Step 4: How to Sell AMP
If you are just learning how to buy AMP, you may also want to understand the selling procedure. When you are ready to offload your AMP tokens, there are two main ways to go about it.
You can exchange your AMP for another cryptocurrency asset or sell it for fiat money.
- If you want to exchange your AMP for another cryptocurrency, the process you will follow is similar to step 3. There are only slight changes to be made. Under the section for ‘You Pay,’ pick AMP, and concerning ‘You Get,’ select the new cryptocurrency you want to buy. Basically, the buying process is reversed.
- The other way is to sell for fiat money. For this, you need a centralized exchange such as Binance. Since Binance is integrated with Trust Wallet, the cryptocurrency giant is known for its compatibility with plenty of cryptocurrency assets, including Defi coin such as AMP. However, to sell your AMP tokens for fiat money on Binance, the process is more stringent, and you have to go through a KYC process.
After taking all the necessary steps, you can sell your AMP on the exchange platform for fiat money. Then, you can transfer this money into your bank account.
Where Can You Buy AMP Online?
AMP has an ample supply and continues to grow in market cap, meaning that it is available on many cryptocurrency platforms. As such, you can buy AMP online through centralized and decentralized exchanges.
The core difference between these two systems is that decentralized exchanges offer more control over your trades. Pancakeswap is one of the best decentralized exchanges you can use – and here’s why:
Pancakeswap – Buy AMP Through a Decentralized Exchange
Pancakeswap is a DEX that leverages the growing trends in decentralized financial market investments. Being a DEX, the main feature of Pancakeswap is that it allows you to buy, sell, swap, and trade generally without the need for an intermediary – as is the case at centralized platforms.
This makes for swift transactions and more convenience. In addition, Pancakeswap is an automated market maker (AMM). The unique proposition of AMMs is that the markets are automated, meaning you are not pitched against another investor, rather against the system. Trading against the system means that you stake your assets in a liquidity pool that contains funds from other investors.
Funds in the liquidity pool are used for trading and the profits are shared amongst the investors who have staked accordingly. By staking in the Pancakeswap liquidity pool, you will be awarded some tokens. These tokens will be used later to claim your funds and profits from the liquidity provided.
While the liquidity pool is a major attraction, some other features and benefits make Pancakeswap compete favorably with other DEX’s in the market. Some of the features include the farm, prediction pool, and lottery, where investors can gain extra income. Pancakeswap tops it all with a fast execution time frame and low transaction charges.
Pros:
- Exchange digital currencies in a decentralized manner
- No requirement to use a third party when buying and selling cryptocurrency
- Supports a sizable number of digital tokens
- Allows you to earn interest on your idle digital assets
- Sufficient levels of liquidity – even on smaller tokens
- Prediction and lottery games
Cons:
- Might appear daunting at first glance for newbies
- Does not support fiat payments directly
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
Ways to Buy AMP
If you are just learning how to buy AMP, you need to know the best ways to purchase the token. There are two ways to buy AMP, and they are explained below.
Buy AMP with Cryptocurrency
The first way is mainly used by people who are not new to the cryptocurrency world. Here, you can buy AMP on your Trust Wallet with funds you have in another cryptocurrency wallet. First, you need to transfer the assets from your other wallet into your Trust. Then, connect to Pancakeswap and exchange the transferred coins for AMP.
Buy AMP with Credit/Debit Card
If you do not have any other wallet apart from your newly set up Trust, you may find this option as your only choice. Here, you can buy major coins directly on Trust Wallet with your credit/debit card.
Doing this will require you to go through a KYC process. Once you do this successfully, you can buy the established coins on Trust Wallet, connect to Pancakeswap and swap them for AMP.
Should I Buy AMP?
This question is often asked by investors who are just learning how to buy AMP. The answer is not one anybody can give recklessly, but you have to arrive at it by yourself through diligent research.
Since the aim of purchasing a cryptocurrency asset such as AMP is to enjoy an increase in its price later, look out for these factors that may determine the value of the token in the coming years.
Corporate Backup
The AMP token is gaining momentum partly because of its establishing project and mainly due to the corporate backup it enjoys. The cryptocurrency is used primarily by the Flexa Network, a platform committed to facilitating instant and secure payments worldwide. The backing from a renowned firm like Flexa lends credibility to AMP and increases the chances of surviving any oncoming crypto market drought.
Apart from Flexa, Coinbase is another big name that provides corporate backup for AMP. Since the cryptocurrency giant listed AMP on its platform, the stability of the token has become more assured, and the protocol is gaining more prominence daily. With these credible companies backing AMP, the token might be on its way to becoming the next big thing.
Yet, it goes without saying that a buying decision should be based on personal research. This puts you in a more knowledgeable position and ensures you make an informed choice.
Increasing Bullish Behaviours
The aim of investors is to buy cheap assets that will later appreciate.
- That goal was achieved by AMP investors mid-year, July 2021, when the token, which was selling for less than a cent as of January 2021, rose steadily to over 10 cents.
- While the token has had its highs and lows, the price has enjoyed some level of stability.
- These bullish behaviours are expected to continue as the token gains more prominence.
- If this happens, AMP might be a good buy.
However, understanding the unpredictability of cryptocurrencies, no one can assert what’s to happen - so tread with caution.
Mainstream Appeal
Since Flexa adopted AMP, more investors have flocked to the token and purchased the cryptocurrency. The appeal was significantly increased when the official Coinbase Twitter account announced that the token is now available on the platform.
Another appeal accruing to AMP comes from the coin’s increased use for collateralization on platforms such as Flexa. This makes transactions safer for both buyers and sellers while increasing people’s readiness to trade with just about anyone. With Flexa’s authority and Coinbase’s accessibility, AMP seems to have become more appealing in the market.
AMP Price Prediction
AMP started the 2021 year with its price at barely a fraction of a cent. However, in a couple of months, it gained prominence and reached an all-time high of over 10 cents. The events which facilitated this increase are expected to continue - lending support to the token.
If this stability is maintained, some commentators expect the token to triple its all-time high by the end of 2021. While you’ll find predictions of this nature across different platforms online, it’s crucial to understand they are not credible enough to form the basis of your buying decision. Ensure you do adequate research before buying AMP.
Risk of Buying AMP
AMP does not have any particular risk different from the inherent ones that come with every other asset of its type.
- The first risk to note, which is common to cryptocurrency assets, is the high volatility. Cryptocurrencies are very volatile because they are more susceptible to speculation than other assets.
- Also, cryptocurrencies do not have the tangibility of physical assets or enjoy decades of historical data like stocks, bonds, ETFs, etc. The effect of this is that even a piece of unverified news can affect the value of cryptocurrencies and lead to a rise or fall.
- Being an altcoin, one of the risks investors in AMP must be aware of is that most of these tokens do not survive.
The market is dominated by big assets such as BTC and ETH, with hundreds of altcoins jostling for survival. This competition increases the risks of tokens like AMP dying without gaining prominence.
Best AMP Wallet
There are several wallets on which you can store AMP tokens. Most wallets provide similar functions, but some have distinguished themselves with superior features that leave others behind.
We have highlighted three of those wallets and the areas in which they excel:
Trust Wallet: Overall Best AMP Wallet
Trust Wallet takes the top spot on this list for AMP tokens. This wallet has proved its leading position through its superior user interface, smooth operability, affordability, and simplicity.
The wallet is straightforward to use for beginners, and also enjoyable for experienced traders. With Trust Wallet, you can buy, sell, store and trade your AMP tokens comfortably.
Freewallet: Best AMP Wallet for Accessibility
Freewallet offers something most others do not possess; accessibility on all devices. This wallet allows you to access your AMP tokens on different devices with the aid of various versions available.
For example, there is the mobile app for cell phone users, the desktop version for stay-at-home traders, and the web option for those who wish to transact directly online.
Ledger Nano X: Best AMP Wallet in Security
When it comes to the security of cryptocurrency assets, hardware wallets rank high.
- Now, among hardware wallets, Ledger competes for the top spot, most especially the Nano X model.
- This wallet is preferable for storing your AMP tokens, especially if you have a large amount and intend to hold for a long time.
- By using this wallet, you will be saving your AMP tokens in cold storage where no hacker can gain access to it.
- One feature that makes the Ledger Nano X a favorite among fans of hardware wallets is its compatibility with various cryptocurrency tokens.
Therefore, when you use Nano X for your AMP tokens and you can also store your other assets in it.
How to Buy AMP – Bottom Line
The bottom line to buying AMP is simple. First, you have to get a wallet, preferably Trust. Then, fund your account with an established coin, connect to Pancakeswap, and exchange the cryptocurrency you bought for AMP.
By following these steps, you’ll buy your AMP seamlessly within a few minutes. Over time, you’ll become an expert trader who can buy just about any Defi coin!
Buy AMP Now via Pancakeswap
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
FAQs
As at the beginning of August 2021, the price of AMP is just over $0.06.
AMP can be a good buy if the speculation for it to rise manifests into reality. Its price as at the time of writing in early August 2021 is just about 6 cents, making it quite affordable. Hence, any significant increase in its value will provide you with more returns. However, all of this is still subject to speculation, and there is nothing concrete to go on at the time of writing. Therefore, it's essential to do your own research beyond the coin's market price to become more informed.
The AMP protocol did not set a bar on how much or how little you can buy. You may, however, experience limitations when buying from certain exchanges. Some exchanges set limits to regulate the trading fees that investors pay. This accounts for why Pancakeswap is the preferred option for buying AMP.
The AMP token hit its all-time high on 16 June, 2021, when it peaked at $0.12. On the other hand, its all-time low was on 17 November, 2021, when it went for $0.00079.
You can buy AMP tokens using a debit card by first purchasing an established coin via your Trust Wallet. Then, you can connect to Pancakeswap to exchange the coins for AMP tokens.
There are over 99 billion AMP tokens in total supply, with more than 46% in circulation. The market capitalization of the coin is around $2.6 billion as at the time of writing in early August, 2021. How much is AMP?
Is AMP a good buy?
What is the minimum AMP tokens you can buy?
What is the AMP all-time high?
How do you buy AMP tokens using a debit card?
How many AMP tokens are there?
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