What is Amp (AMP)?
AMP is a digital token used as collateral for value transfers. AMP is asset-agnostic and is universally compatible with any form of value transfer, both digital and physical. It ensures the value of any transfer while the transfer remains unconfirmed, reducing the delay of the transfer while it is being processed. Essentially, AMP is used as collateral. This guide will cover exactly how to buy AMP token.
AMP is a token utilizing the Ethereum blockchain, it is known as an ERC-20 token. As an ERC-20 token, it uses Ethereum’s smart contract system and follows the standards outlined to be compatible with the Ethereum blockchain. ERC-20 tokens are similar to Bitcoin and Litecoin.
How to Buy AMP Token on Binance
Step 1: Sign up for a Binance Account
Buying AMP on Binance is easy and straightforward. Use the link below to register for a Binance account and receive a 40% discount on your trading fees. If you are a US citizen, use the Binance.US link. In all other areas of the world, use the Binance link.
Follow the account creation instructions. You will be required to verify your identity before you’re allowed to make trades on Binance. The basic verification process only takes a few minutes.
Step 2: Fund Your Account With Fiat or Cryptocurrency
Your account will need to be funded with fiat (USD, EUR, etc) or another cryptocurrency before purchasing AMP. Binance supports most of the major fiat currencies as well as many mainstream cryptocurrencies and altcoins. To fund your account, you will need to add a payment method.
NOTE: On Binance.US, you are only able to purchase AMP with USD. You will need to fund your account with USD before purchasing AMP
To add a payment method, simply navigate to the Choose Payment Method page once you’re logged into your account. You will need to select your preferred payment method. To save on fees, we recommend using the ACH payment option. However, if you are in a hurry, the Debit Card option might be your best bet. After selecting your payment method, simply go through the guided steps.
Step 3: Exchange Fiat for AMP
Once you’ve deposited fiat (USD, etc) into your account, you can easily purchase AMP. Head over to the “Markets” tab and search for “AMP.” Exchange your fiat currency for AMP, and you’re done!
How to Buy AMP Token on Gemini
Step 1: Sign Up for a Gemini Account
To buy AMP, the first thing you have to do is navigate below to register for an account on the Gemini exchange. You will receive $10 in free Bitcoin for signing up with the below link!
Follow the prompts and instructions to complete the account creation process. You will be required to verify your identity before you are allowed to trade and buy cryptocurrency on the Gemini exchange.
Step 2: Fund Your Account With Fiat or Cryptocurrency
Once your Gemini account is verified, your account needs to be funded. Currently, Gemini supports both fiat and cryptocurrency deposits. You can buy AMP with USD, EUR, AUD, CAD, GBP, HKD, and SGD by first depositing it into your account. They also support depositing a wide range of cryptocurrencies, including the top coins and a number of altcoins (BTC, ETH, LTC, etc.).
To fund your account, first, let’s head over to the “Funding Sources†page here:
https://exchange.gemini.com/settings/bank
Select and complete the process to set up your preferred funding method. The funding options are linking your bank account via Plaid (Only available for US, CS, UK, and EEA based bank accounts), adding a debit card which is the quickest way to buy AMP, or by manually linking your bank account which requires you to send a wire deposit to verify your bank account information (will take a while, so if you want to buy AMP now, either automatically links your bank account or add a debit card).
IMPORTANT NOTE: Paying with a debit card will have the highest fees. If you want to avoid high fees, you should link your bank account.
Once you have added a funding source, click the “Transfer†button in the top-right corner and then select “Deposit into Gemini.â€
The “Transfer Funds†page will load where you can select or search the currency you would like to deposit to buy AMP. Type in your preferred currency on the search bar and click “CONTINUE†seen here.
When selecting a FIAT currency, you will be asked to select your deposit method (see image below).
Select the deposit method you just set up in your funding sources page, click continue, and then enter the amount you would like to deposit into Gemini.
When you click continue, it will show you the details of your deposit for you to review and confirm.
If it looks correct, click confirm. You’re now one step closer to buying AMP now.
Step 3: Exchange Fiat for AMP
Once your fiat is deposited into your account, you can buy AMP. Navigate to the main page of Gemini https://exchange.gemini.com/ and scroll down the page until you find AMP https://exchange.gemini.com/buy/AMP. Once you are on the AMP listing page, fill out the form on the right-hand side with the amount you would like to purchase and select if it is a one-time purchase or the interval you would like to buy AMP.
Click the “Review Order†button which will show you the details of the AMP order you’re about to make:
You can change the payment method to the one of your choosing, and then click the “Confirm†button at the bottom to buy AMP now.
Wrapping Up
You’ve successfully learned how to buy AMP! AMP is a popular cryptocurrency with lots of hope for the future. Have you invested in AMP? Let us know in the comments your thoughts on AMP and its usage.
