How To Trade ICP Tokens?
The recently launched Internet Computer tokens by Dfinity hit the crypto industry with a big bang some days ago. And the coin has already ascended to the 8th valuable crypto coins to invest in. Thanks to this surge, more and more investors are looking to invest in this new cryptocurrency. If you fall within this category and are searching for how to buy and sell or simply store ICP tokens, then we have good news. We are going to show you exactly how to do that.
However, before delving into where you can buy or trade your ICP tokens, let's go back to the reasons why this token has gained so much popularity.
Why is the Internet Computer A Huge Hit?
Whether you're a big investor or simply a crypto fanatic, you have heard the term Internet Computer on the lips of so many. And you might be thinking what all the fuss is about, especially because Dogecoin's market cap has been skyrocketing. Surely, it's just a regular token and it shouldn't be anywhere close to the crypto giants Bitcoin and Ethereum. Well, not yet but who can tell the future of ICP?
A Plethora Of Incredible Features
However, what is evident is that the Internet Computer (ICP) has some impressive features that offer users a different experience. ICP is a public blockchain by the Dfinity foundation that has several breakthroughs in the crypto industry. With innovative technologies that have led to processing times similar to the internet and decentralized apps, ICP is a force to reckon with. Some of the decentralized apps already built on the ICP blockchain are similar to LinkedIn and Twitter. This is undeniably a remarkable feat, especially since other similar blockchain systems are centered on only finances.
Another reason why there is so much buzz around the release of the ICP tokens is its ability to offer business owners a means to leverage software technology easily. For many startups, access to resources and funding are limited to a few leading cities and technological hubs. However, with technology like the Internet Computer, it will be easier to access networks, funding, talent, and create improved business models. Also, because your location doesn't matter, it is an incredible opportunity.
Seamless Software Ecosystem
The Internet Computer facilitates a smooth, collaborative ecosystem where multiple programs and apps can communicate. These apps can use each other's APIs because the ICP features canisters that entail computational units of data and code. These canisters are more of an advanced form of smart contracts and are the perfect tools for creating and deploying software. This means that you can create a front-end for many decentralized apps on the ICP network.
Another reason why the Internet Computer is popular is that it offers more security for consumers. Unlike other Ethereum-based apps, those built on ICP's network are more secure and less likely to be regulated. Think of it as a blockchain computer with a fast processing time and an unlimited capacity.
With so many features and positive outcomes of the Internet Computer, it's no surprise the value is soaring.
How To Purchase The Internet Computer (ICP) Token
The ICP token on the network is primarily valued for the processing power on the network. ICP tokens are burned after every transaction, which has been a cause for concern for many crypto advisers. The main issue with this process is that it makes the token a deflationary currency. Nevertheless, the ICP time currently has a market cap of $46 billion as of the 10th of May. Hence, putting it at the 8th position of the most valuable token globally.
Here are the following steps you can use to purchase and trade your ICP token;
Create A BitForex Account
The Internet Computer token launched some days ago, which makes it difficult to find on other crypto trading platforms. Fortunately, the BitForex crypto trading platform offers this token and you can purchase it with either USD or other stable coins such as BUSD or USDT. If you already have a BitForex account, then you can simply log in and process your purchase.
However, if you're yet to open one, here are the easy steps to follow;
1.Log in to https://www.bitforex.com
2.Sign up with either your phone number or email address
3.Fill in other necessary details required
4.Input the code sent to you if you decide to use your phone number for the process.
5.Click on the verification email and enter the code sent to your mail if you decide to use your valid email address.
Once you've completed these steps, you can make a deposit and either purchase or sell your tokens.
Download Your Software Wallet
Storing your crypto assets on your trading platform is never a wise decision. This is because every platform controls your private keys and this can be stolen by a skilled hacker. A software wallet gives you total control of who has access to your coins. Since the Internet Computer tokens are still new, hardware wallets are yet to include them in their storage. Hence, you need a BitForex wallet to safely store your ICP tokens.
Although hardware wallets are undoubtedly the best options for storing your tokens offline, a BitForex wallet is the next best thing.
Purchase Your ICP Tokens
There are two ways you can purchase ICP tokens. You can either buy them as a market order, a limit buy order, or via dollar-cost averaging. The difference between all options are;
1.Market order offers you ICP tokens at market price
2.A limit buy order is only possible when the token falls below a certain price level.
3.Dollar-cost averaging entails purchasing your tokens as it increases. For instance, if you want to purchase $500 worth of ICP tokens, you can spread it out to payments of $100.
All of these methods are profitable and your choice should depend on your goals as an investor. Whether you decide to hold on to your ICP tokens or sell, BitForex is the best platform to get it done swiftly
With the market cap of the Internet Computer token skyrocketing, it is probably a wise decision to make a purchase now. Considering the innovative features and benefits the ICP network offers to both developers, investors, and consumers, the value is unlikely to dip significantly for a while. Follow the steps mentioned above and you can purchase your ICP tokens easily.
BitForex is an exchange service platform that can be classified as one of the Top 20 cryptocurrency exchange services. It is focused on providing millions of users with a digital currency trading and investment tool that is not only safe but also professional and convenient. BitForex has a high customer-oriented culture and state-of-the-art financial technology.
BitForex is programmed in a way that it can quickly adapt to the changes of the Crypto market while introducing new features like margin trading, enhanced trading charts, derivatives, and a host of others. The headquarter of BitForex is located in Hong Kong, while there are branch offices in countries like the United States, South Korea, and Singapore.