Since going public on May 10, 2021, Internet Computer Token (ICP) has quickly become the ninth most valuable cryptocurrency based on market capitalization, and for good reason. If you are new to investing, you may be wondering is icp coin a good investment. So, we made this guide to make sure you know everything there is to know about icp crypto forecast.
The DFINITY foundation, which is made up of some of the best blockchain and cryptography experts in the world, made the Internet Computer.
What does it mean by "computer internet"?
Internet Computer (ICP) is much easier to use than most other public blockchains that support smart contracts. This is because it has a number of unique features. There's a chance that Internet computers could handle transactions in a fraction of the time and money that the Ethereum network needs.
Because of the research done by the DFINITY foundations, the company has been the first to do a number of things in the blockchain and cryptography fields. Because of these changes, processing times are now very fast and there are no limits on how much can be done. Both blockchain and the internet have processing times that are similar.
Internet Tokenization
The main purpose of the token on the Internet Computer network is to let the ICP network add more computers. Because these transactions involve burning tokens, we could say that tokens are a type of money that causes prices to go down. About 123 million of the 469 million total tokens are now being used.
Since only about 25% of the tokens that can be made are in use right now, making more tokens will definitely make the ones you already have worth less. The price of an Internet computer hit an all-time high on May 10. One costs about $370 right now, which is a lot less than the price on May 10 of $500. With a market capitalization of $46 billion, it is the tenth most valuable cryptocurrency out of all of them.
Market Capitalization of Cryptocurrencies At the moment
At the moment, there is no doubt that the bitcoin market is in a bull market. The drop in the market continues to hurt the value of cryptocurrencies. Still, Decentralized Finance (DeFi) tokens and meme tokens like Dogecoin and Shiba Inu are becoming more valuable. Keep an eye on Bitcoin and Ethereum if you want to know where the value of cryptocurrencies is going.
ICP: How to Get It
Internet Computer Token is still pretty new, so only a few exchanges can support it right now. You're in luck if you already have an account with Crypto.com or Binance.US. You can buy ICP on these exchanges with USD or stable coins like USDT or BUSD. You can use either USD or stablecoins on Binance. You can trade any cryptocurrency you already have for ICP by using a stablecoin or a similar type of intermediary token. If you don't already have one, it's easy to sign up for a cryptocurrency trading platform. If you live in the United States, you have to show proof of who you are before you can do business. Keep your driver's license number, your home address, and your Social Security number with you at all times.
You shouldn't store your coins on an exchange if you trade cryptocurrencies. Because the exchanges hold the private keys of all investors, hackers could steal your money if they got access to them. Putting your bitcoins in a cryptocurrency wallet is safer because you control both your private keys and your bitcoins.
To buy Internet Computer tokens, you can use either a market purchase order or a limit purchase order. Limit orders won't be carried out until the price of the token falls below a certain level, while market orders will buy ICP tokens right away at the current market price. Due to ICP's young age, dollar cost averaging might be a good way to invest.
For dollar cost averaging to work, you have to make a number of small investments over time. For example, you could buy ICP ten times a week for $100 each if you wanted to invest $1,000. Depending on what you want to do with your money, you may choose to invest for a longer or shorter amount of time.
Because they are new, hardware wallets are not yet compatible with Internet computers. Hardware wallets that store money offline are the safest way to keep bitcoins.
Is it a good idea to get a ICP Crypto?
Internet Computer is without a doubt one of the most interesting cryptocurrencies to come out in recent years. The DFINITY Foundation is made up of some of the most experienced experts in cryptography, and it is supported by well-known venture capital firms. Even though ICP has a lot of good points, it's still not clear if it will be able to beat Ethereum and become the best blockchain for smart contracts. Even though ICP has a lot of great things to offer.
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