Clearly, the coin lacks in volatility and hasn’t been able to impress the investors in the bull run of 2021. AMP is more like a plan B which is deployed if things go sideways. It is not used as a primary settlement token. Is AMP Coin worth Investing?Īs explained earlier AMP is a collateral token and not a cryptocurrency. It can also be bought from DEXes like Uniswap exchange and Sushiswap. All you need is to wait for the breakout and hope for better volatility.ĪMP coin price prediction Where to buy AMP Coin?ĪMP Coin is available on the top exchanges like Binance, Gemini, and more. In the best-case scenario, I will certainly limit my price prediction to $0.20 but will be a random guess. It’s going to be very hard for AMP to aim for $0.50. If the token has to hit $1, it will have to at least surpass Cardano ADA market cap and break the resistance zone of $0.06. The technicals and the total market cap complete the puzzle. Taking a look at the price chart, it’s pretty clear that the coin lacks volatility which is an essential requirement for bigger price moves. It briefly hit $0.10 and later fell back to $0.04. The coin has a pretty stable ride in the recent bull run and market crash. It is there to support the whole ecosystem and make it trustworthy for the users. AMP is not the native currency of Flexa network. AMP is a collateral token that acts as a security for the merchant if the transaction doesn’t go as planned. Let’s make things clear before I give any price estimates. The governance conducts off-chain voting via Snapshot – AMP Governance:ĪMP users can vote on the proposals presented by the community which includes partnerships, cross-chain integrations, DeFi collaborations and more. Users have to use the same address to stake and unskate AMP tokens. It is important to remember that the tokens will be unstaked back to the address from which it was staked. Users can unstake the tokens anytime without worrying about the locking period.
Staking help the users receive a cut in the fee paid by the merchants.ĭespite the low staking reward, users stake AMP on Flexa because it has no cooldown period.
It is important to notice that the total AMP displayed in the staking pool are the actual tokens used as collateral for the transaction which means the system can support fixed number of transactions where AMP can be used as collateral. Choose the app on which you wish to stake tokens and that’s it, it’s done. After choosing the preferred staking option, user will have to visit the connected wallet and click the stake button below the AMP tokens. Once the wallet is connected, user can click the explore tab to display the staking option. In the backend, the app will process the request and swap the tokens to the favoured currency set by the merchant which further reduces the gas fee.
Amp coin to 1 code#
Merchant will scan the QR code on the user’s app and the funds will be automatically transferred to the merchant’s account. Users can pay the merchant using supporting apps like GEMINI. The whole idea is to have a legal & centralized payment operator (Flexa) and a decentralized network (AMP) for faster and secure payments that support a range of cryptocurrencies with the ability to settle payments in fiat. The total supply of AMP tokens is capped at 100 billion In order to understand the need for AMP coin in Flexa network, let us understand how it works. It is a collateral token designed to decentralize the risk in the payments, thereby reducing the assurance cost from existing networks. What is AMP Coin?ĪMP is an Ethereum based ERC20 token. Flexacoin holders were able to swap their coins to AMP in a 1:1 ratio. Since the technology behind Flexacoin does not support staking, the team introduced AMP coin. Checkout the list of cryptocurrencies supported by Flexa network.įlexa held the ICO of Flexacoin in 2018 followed by the release of apps (including SPEDN & GEMINI) supporting Flexa network. With the use of authorization code, complete payment amount is transferred from the customer’s account balance and converted by Flexa network at a lightning fast speed with 100% settlement guarantee. In order to spur the adoption rate and mitigate the uncertainty surrounding cryptocurrencies, we have AMP that brings the solution to the table. However, they’re lacking in mass adoption because of the reasons shared above. Crypto transactions are picking up the pace by challenging the traditional payment methods including cash to cash transfer.
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