How & where to buy Ampleforth (AMPL) online
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This beginner’s guide introduces you to the Ampleforth stablecoin. Here we explain what a stablecoin is, why it’s different to other cryptocurrencies, and what’s likely to affect its long term prospects.
What are the best exchanges to buy Ampleforth on?Copy link to section
If you’re ready to dive straight in, use one of the trading platforms below to get started. We’ve assessed all the best cryptocurrency brokers to help you pick which one is right for you. If you still want to learn more about Ampleforth, keep reading.
How to buy AMPL online – a step-by-step guideCopy link to section
Step 1. Find an exchangeCopy link to section
The first thing to do is to find an exchange. There are lots out there, with different features and catering for different levels of experience. One of the key differences is that with some you can fund your account with a fiat currency, like USD, while on others only by using a cryptocurrency like Bitcoin. Here a couple of the best places to buy Ampleforth coins:
- Binance: With Binance you can trade more than 100 cryptocurrencies. Binance has more trading volume than any other exchange and so is a great place for most crypto trading. Sign up for Binance >
- BitMEX: A platform for trading cryptocurrencies with Bitcoin, BitMEX lets you use a variety of advanced trading strategies like leverage and futures trading. Join BitMex now >
Step 2. Sign up and fund your accountCopy link to section
Before you can start trading you’ll need to sign up and verify your exchange account. Verification is simple, done with a copy of photo ID and is usually done inside a day. Funding your account is a case of depositing your fiat currency (like GBP, USD, or EUR) and you’re good to go.
Step 3. PurchaseCopy link to section
This is the simplest step. Look for the current AMPL price, and then find the pair that corresponds with the currency you want to swap for it. For example, if you’re using Bitcoin, then just look for the AMPL/BTC price pair and execute the trade.
Step 4. (Optional) Get a suitable walletCopy link to section
The exchange you choose will let you store your coins with them. If you want a bit more security, you can get your own personal wallet instead. Personal wallets can be a mobile app, accessed through your browser, or hardware wallets with the coins held on a USB stick. In each case, you have a private key that is the only way to access the coins.
Here are two wallet providers you can try first:
- Guarda Wallet: Guarda Wallet is a flexible wallet with web browser, desktop, and mobile options. It includes an option to trade your coins direct from the wallet with an integrated exchange. Sign up for Guarda Wallet >
- KeepKey: A popular hardware wallet, KeepKey stores your private key completely offline, so it’s secure even if it comes into contact with an infected computer. Join KeepKey now >
How to trade Ampleforth – a step-by-step guideCopy link to section
Step 1. Find a brokerCopy link to section
Look for a broker with low trading fees if you plan on being active. That way, you won’t spend too much money just paying for the right to trade. You also need to be aware that Ampleforth isn’t available with many brokers yet, but top ones like eToro and Plus500 are usually the first to offer new coins.
Step 2. Deposit moneyCopy link to section
You can fund your account with fiat currency. Brokers sometimes charge for deposits, and often charge for withdrawals, so make sure you’re aware of the fee structure before you put any money in.
Step 3. Decide how you’d like to tradeCopy link to section
When your account is funded, you have a few different options on how to get started. You can use contracts for difference, which are a way to speculate on AMPL price moves without owning the coin itself, or another method is spread betting, where you can bet on overall market moves.
Step 4. Start tradingCopy link to section
The last step is to get going. Broadly speaking, you have to answer a simple question: do you think AMPL is going to go up or down? If you think it’s going to go up, you should back it to rise – known as ‘going long’. If you think it’s going to fall, go ‘short’.
The more experienced you become, the more you can start to think about advanced strategies like leverage. Using leverage means putting up a small percentage of the overall trade – ‘the margin’ – while your broker puts up the rest.
Using leverage is a way of making much bigger bets on market moves but you should remember that you’re always liable for the losses. Trading with leverage opens up the potential for big losses as well as big wins and should be treated with caution.
Still undecided?Copy link to section
It’s a good idea to take some time to think about investing, especially when it comes to cryptocurrency. To help you decide, here are some of the platform’s pros and cons, followed by a few more questions to consider.
ProsCopy link to section
- Stablecoins are an alternative way of investing in cryptocurrency
- It comes with the benefits of decentralisation without the risks of extreme volatility
- It can be used to diversify your portfolio
Finally, below are three more questions to help you decide if you should invest in Ampleforth.
1. Is it a good time to buy Ampleforth?Copy link to section
More than most cryptocurrencies, the decision depends on your investing goals. In the long term, you can use Ampleforth as a way of diversifying your holdings, or as an alternative to stablecoins like Tether or DAI, which are backed by real world assets.
There are fewer options for short term traders, but there are arbitrage opportunities that those with more experience can use to benefit from the changes in supply. Any investor should always track the latest analysis for things that might affect the price, and you can do that below:
2. What problem does Ampleforth solve, and what are the coin’s investment prospects?Copy link to section
Ampleforth solves the problem of volatility that affects most popular cryptocurrencies, even including other stablecoins. Where most of those have their value pegged to some kind of asset, whether that’s a fiat currency, commodity or digital asset. AMPL is free from all of those influences, with its value maintained automatically.
That means its investment prospects are quite disconnected from the rest of the cryptocurrency market. Owning some is a way of diversifying your holdings and hedging the risks of investing in volatile cryptos or fiat currency. Elastic supply works both ways, however: you aren’t going to see big spikes in value.
If you are going to invest, make sure you understand how it works. It’s important to know things like when the rebase takes place – 1pm EST every day – as well as any news that might affect its price. You can follow all that latest news below:
Coinbase lists FORTH as it continues expanding its crypto offering
3. Do you want to hold Ampleforth for the long term?Copy link to section
Ampleforth is a good long term investment if you’re looking for an alternative to Bitcoin, or for a stablecoin that could have real world use. Otherwise, it’s a way to spread out your risk using a completely different type of crypto asset to most of the currencies available.
Considerations for a long term investment strategy
Long term investors might want to decide whether they prefer Ampleforth to other stablecoins available. It could be a good investment if you’re looking for a coin that might have future real-world use, or as a way of diversifying your portfolio. In that case, you should find an exchange straight away.
Considerations for a short term trading strategy
Think about whether AMPL is volatile enough to create opportunities. If you understand arbitrage, you might be able to take advantage of very small fluctuations value, but otherwise there might not be enough swings in price. Regardless of your level of expertise, finding a broker with low fees is crucial to trading successfully.
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 >