What is amp coin? Amp is a blockchain project that offers high security and collateral services. In this article, you can access answers to questions such as what is Amp coin, what it offers, how to buy AMP, what is it used for, what are its advantages and disadvantages. As Kriptokoin.com, we have prepared it for you.
What is amp coin? What is it used for?
Amp coin is a cryptocurrency project launched in September 2020 by companies Flexa and ConsenSys. The project was built on the Ethereum Blockchain. Working with open source code, the platform has a native cryptocurrency called AMP, created with the ERC-20 smart contract. Amp aims to attract institutional investors by providing users with high security and collateral services. Users can create smart contracts etc using Amp coin. can secure items through the Flexa network. Cryptocurrency is used to reimburse the parties in unsuccessful transactions with cryptocurrencies such as Bitcoin and Ethereum.
Users can secure their transactions through collateral pools within AMP. By staking the AMP token in the smart contract, investors can pay for price changes that may occur in transactions such as loans, property sales and digital payments. The project offers its users the opportunity to earn profits with compound interest income and token rewards. The token, whose maximum supply is limited to 92 billion units, attracts the attention of long-term investors. At the time of writing, AMP was the 84th largest cryptocurrency with a market cap of $1.1 billion. There were 42.23 billion tokens in circulation. This equates to 46% of the maximum supply.
What are the advantages?
- AMP coin can be used as collateral for digital and real-world transfers and exchanges. Users can secure their Bitcoin and Ethereum transactions with AMP.
- AMP performs operations very fast. However, transaction costs are quite low.
- Institutional investors protect their transactions and assets from fraud through collateral pools.
- AMP has a stakeable structure. Users can earn passive income at maturity by locking their assets for a certain period of time.
What are the disadvantages?
- AMP project rewards its users only through staking. Investors cannot obtain rewards through active participation in the platform or by drawing lots.
- Just like other cryptocurrencies, it has high volatility. High volatility means that an asset’s value fluctuates within a wider range in the bullish and bearish directions. Therefore, it can be seen as a risky investment.
How to get amp coin?
Amp coin is currently listed by crypto exchanges such as Binance, Coinbase, Gemini and Poloniex. Interested investors can become a member of one of these exchanges and purchase AMP by depositing money.
