How & where to buy Amp coin (AMP) online
This page is a beginner-friendly guide to buying AMP. You can find all the best platforms to use to buy tokens, information about what AMP is and its potential as an investment, and links to all the latest news.
What are the best exchanges to buy AMP on?
The table below compares all the best brokers and exchanges that support AMP. If you’re ready to buy your tokens now, then simply follow one of the links. If you want some more information to help you make up your mind, then simply scroll down and keep reading.
How to buy AMP online – a step-by-step guide
Step 1. Find an exchange
Now that cryptocurrency has established itself in the financial world, there are a wide number of exchanges that allow users to buy, sell, and trade coins.
The best way to find the right option for you is to check out our comparison table at the top of this page or our in-depth reviews of each platform. That being said, here are two of the platforms we most highly recommend:
- Binance: With thousands of cryptocurrencies available to trade, Binance is one of the most established and well-trusted exchanges around. Sign up for an account now >
- Coinbase: One of the first popular exchange platforms, today Coinbase has a reputation as being the most beginner-friendly platform to buy cryptocurrencies. Register here >
Step 2. Sign up and fund your account
Typically you’ll have to register for an account before you can use an exchange. This process usually only takes a matter of minutes, but it can take a little longer to verify your ID. It’s common to have to provide both proof of ID and proof of address when opening an account.
Once you’re set up, you will be able to fund your account using one of the payment methods accepted by the exchange. These vary from platform to platform, with some exchanges allowing your to buy crypto with fiat currency, and others requiring you to deposit using other cryptocurrencies.
Step 3. Purchase
So you’ve set up your account and deposited funds – time to buy some AMP. All you have to do is search for AMP in the ‘buy crypto’ section of the exchange, check that you’re happy to pay the current market price, and click ‘buy.’
Step 4. (Optional) Get a suitable wallet
If you want to keep your AMP secure and away from your exchange account, then you can get a cryptocurrency wallet. This is not essential, but it’s an approach often taken by more security-minded investors.
Here are two of the top wallets around:
- Freewallet: A online wallet, Freewallet is accessible from anywhere through a browser, and has the capacity to hold thousands of different coins. It’s also a completely free service. Sign up now >
- Trezor: One of the most secure hardware wallets on the market, the Trezor One stores your coins completely offline so as to be out of the reach of hackers. Get a Trezor today >
How to trade AMP – a step-by-step guide
Step 1. Find a broker
If instead of buying and holding AMP tokens you want to trade them quickly as the market fluctuates, the best option is generally an online broker. These services let you trade cryptocurrencies with CFDs, and open and close positions with very low fees.
As AMP is still quite new, it isn’t available on broker platforms, but big names like eToro and Plus500 are fast expanding into the crypto space and would be worth signing up to so you can take advantage.
Step 2. Deposit money
Once you have opened an account (which will usually involve providing ID documents), you most often have to fund your account with fiat currencies (e.g. GBP, EUR, and USD). There will often be multiple ways of doing this, such as with a debit card, bank transfer, or PayPal.
Step 3. Decide how you’d like to trade
Most commonly the two trading options you will have when using an online broker are CFD trading and spread betting. There are differences between these approaches it is important to understand, but both allow you to take positions on the value of cryptocurrencies (such as AMP) without having to store any of the coins yourself.
Step 4. Start trading
If you’re totally new to crypto trading, then we recommend using a broker that has a free demo account. Taking advantage of this feature is a great way to learn the ropes before risking any actual money. Every investor makes mistakes, and it’s best to get them out of the way with fake funds.
Once you’re placing trades in real time, then it’s crucial you keep on top of all the latest news that could impact the value of AMP. The market can move quickly and operates 24/7, so it’s important to keep your ear to the ground and work out if it’s the best time to buy or sell.
The final thing you can consider once you have some experience under your belt is trading with leverage. This means borrowing money from the broker to place larger trades. Be very careful with this, however; traders are often attracted by the idea of higher profits, but leverage also greatly magnifies any losses and is particularly risky in the volatile cryptocurrency markets.
If you’re still on the fence, we have compiled some of the key points into quick pros and cons, and also answered three more key questions to consider before buying AMP tokens.
- One of the rising stars in the DeFi (decentralised finance) space
- Used for collateral across the Flexa Network
- Has uses beyond the cryptocurrency world
- Has seen large price gains in short periods of time
Here are the final three things you should think about before you invest in AMP.
Is it a good time to buy AMP?
The answer to this question depends on your investment goals. On one hand, AMP experienced a lot of success throughout 2021 – rising in value from under 1 cent in January to over 11 cents in June – and this could continue. On the other, this huge spike could mean the best time to buy has already gone, and the token has not been around long enough to see if it has staying power.
If you believe in the project behind AMP, and think it could be adopted widely as a way of putting up collateral, then the price is still low enough to pick up some tokens and hopefully hold as they rise in value. However, you will want to keep an eye on all our latest expert analysis of the markets to see if that is likely to happen.
What problem does AMP solve, and what are the coin’s investment prospects?
AMP looks to decentralise risk and to make it safer to make transactions by using the tokens as collateral. By having this process automated by smart contracts on the blockchain, AMP aims to create a secure way of managing collateral on transactions of all shapes and sizes – both digital and physical.
The investment prospects of AMP will depend on how far their collateral services are adopted. There have been some promising signs, such as the token’s strong performance in the first half of 2021 and its use by the Flexa Network. You’ll want to keep on top of recent developments by following our news to find out if this growth can continue.
Binance announces plans to list two new tokens — Amp (AMP) and PlayDapp (PLA)
Should you buy AMP? The power of reduced risk through collateralization
Do you want to hold AMP for the long term?
It can be a good idea to hold a token such as AMP for a long time, but it also suits some people to buy and sell cryptocurrencies quickly in order to see returns faster. Let us take you through what to think about with the two approaches.
Considerations for a long term investment strategy
If you’re looking to buy and hold AMP for a long time, then your main concerns should be with its fundamental strengths. Consider whether the coin is likely to achieve its aims, what competitors are around, and how long it might take to establish itself. Then you’ll want to sign up for an exchange and make your purchase.
Considerations for a short term trading strategy
If your focus is more on making short-term trades, then the art of technical analysis is more important. This means being able to read price charts, spot trends, and predict future price movements. To capitalise on fluctuations like this, you’ll want to find a great broker to make your moves in the market.
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Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >