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How to buy Internet Computer (ICP) in the US
A beginner's guide to buying and selling ICP in the US.
How to buy Internet Computer
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Internet Computer.
- Open an account on an exchange that supports ICP.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Internet Computer.
- Buy Internet Computer.
Complete your Internet Computer purchase and then find the best wallet to store ICP.
What is Internet Computer?
The Internet Computer is a decentralized open network aimed at reversing the monopoly that Big Tech companies, such as Google or Facebook, have over the traditional lnternet. It is run by the decentralized protocol ICP (Internet Computer Protocol). According to ICP documentation, the protocol intends to help developers build directly onto the Internet with the help of autonomous software. Developers can build websites, enterprise IT systems, Internet services and decentralized finance (DeFi) applications. The ultimate goal of Dfinity, creator of the Internet Computer, is to de-privatize the Internet, remove the reliance on centralized servers or commercial cloud solutions, and simplify the infrastructure that runs applications. Internet Computer uses a blockchain called Chain Key Technology (CKT). Unlike other blockchains, CKT does not use older blocks in the chain and therefore operates at a much more efficient web-like speed. ICP is the utility token of the Internet Computer Protocol that allows the community to participate in the governance of the network. The coin can also be staked and "converted into cycles" which are used to run websites, decentralized applications and more traditional, centralized programs.
Internet Computer (ICP) is the 22nd largest cryptocurrency in the world by market cap, valued at $6,495,939,968. The current price of Internet Computer is $40.06, which is -12.054% lower than yesterday. Prices have ranged between $46.61 and $39.59 over the past 24 hours. All prices are listed in US dollars and accurate as of September 26, 2021 06:09 UTC.
Where to buy Internet ComputerFind an exchange to buy, sell and trade ICP by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Is it a good time to buy Internet Computer?The technical analysis gauge for Internet Computer displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of Internet Computer based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility. This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of Internet Computer: moving averages, oscillators and pivots. Finder is not responsible for how ICP performs.
Internet Computer at a glance
|Total ICP supply||469,213,710|
|All time high||US$700.65|
|Notable team members||Dominic Williams|
|Token uses||Utility token, governance|
Internet Computer price performance over time
How to sell Internet Computer
You can cash out your ICP with the same exchange you bought it through:
- Sign in to the exchange you have ICP on.
If you store your Internet Computer in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of ICP you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Internet Computer.
What to consider when buying Internet ComputerEvery cryptocurrency purchase carries associated risks which should be evaluated thoroughly. Some key considerations to weigh up before adding Internet Computer to your portfolio include:
- Use case. ICP coins are intended to be locked within the Internet Computer network. By locking tokens it creates "neurons" that allow users to vote on protocol and governance proposals. This is similar to other blockchain-based networks. However, ICP tokens are also used in cycle production. These cycles are the power behind the Internet Computer’s network and facilitate computation of web services.
- Development. Internet Computer’s goal is incredibly ambitious. Rebuilding the Internet from the ground up using a blockchain network as the foundation is not an easy task. When complete, anyone will be able to contribute to the Internet Computer. This could be via web pages, building applications or providing services. This begs the question: Is the project too ambitious? The sector is already crowded, with blockchains like Ethereum and Cosmos issuing similar goals. The market share for Internet Computer could be severely diluted. While Internet Computer is off to a good start, tracking the platform’s development will be important.
- Decentralization. While Internet Computer’s protocol aims to address 2 of the biggest issues facing blockchain networks — scalability and security — it lacks the fundamental decentralized nature that many blockchains strive for. As of May 2021, the majority of the voting power is owned by venture investors and developers. Only 2% of all ICP tokens are available for retail. ICP developers will need to address governance proposals going forward to gain public confidence in their ambitious project.
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