Investors in Internet Computer Protocol (ICP) have faced a challenging month, with the native token experiencing a price drop of over 7% in the past month, according to CoinMarketCap. However, there’s a silver lining for ICP enthusiasts. Despite the ongoing crypto winter, the price of ICP token has risen 152% over the past year, entering the bull season with optimism rather than despair.
If you’re considering buying ICP tokens but need more information before making a decision, this article is for you. We’ve compiled essential facts about Internet Computer Protocol (ICP) and a beginner’s guide on how to purchase ICP crypto. Additionally, we’ll recommend secure platforms for buying ICP.
Source: CoinMarketCap
Understanding ICP Protocol
The Internet Computer Protocol (ICP) is a revolutionary development in the world of decentralized computing, spearheaded by the DFINITY Foundation. Launched in 2021, the Internet Computer Protocol aims to extend the functionality of the public internet, transforming it from a network that connects billions of people into a fully-fledged public computing platform.
How the Internet Computer Protocol Works
ICP operates by combining a network of independent data centers around the globe into a unified and seamless platform. This network supports the creation and deployment of software applications of any scale, from simple web apps to enterprise-level systems, without relying on traditional IT infrastructure like cloud services or centralized servers. The protocol achieves this through several key innovations:
Chain Key Technology: This allows the Internet Computer to operate at web speed with unbounded capacity. It breaks down computations into small tasks processed in parallel across the network.
Network Nervous System (NNS): A decentralized governance system that controls the network and can upgrade, configure, and manage the Internet Computer protocol autonomously.
Canisters: These are smart contract equivalents on the Internet Computer, allowing developers to build and deploy secure and scalable applications.
ICP Coin – The fueling token of Internet Computer Protocol
The ICP token plays a crucial role within the Internet Computer ecosystem, it plays several roles such as
Governance
A governance token plays a central role in decentralized finance. ICP holders can lock their tokens into a neuron to participate in network governance through the NNS, influencing decisions on protocol upgrades, economic policies, and other critical functions.
Fuel for Computation
ICP tokens are converted into cycles, which are used to power computations and store data on the Internet Computer. This mechanism ensures that the cost of computation is predictable and directly tied to the value of the token.
Incentives
The protocol rewards participants who contribute resources and uphold the network’s security and functionality. These rewards are distributed in ICP tokens, aligning incentives across the ecosystem.
How ICP contributes to blockchain field development
The introduction of the Internet Computer has significant implications for the future of software development and the broader digital economy. By eliminating the need for traditional cloud services and central servers, the protocol democratizes access to computing resources, promoting greater innovation and reducing costs. Its decentralized nature also enhances security and resilience against cyber threats.
Where to Buy ICP Tokens
1. Buying ICP using a crypto wallet
Klever Wallet offers a convenient and secure way to purchase ICP tokens, with various payment options available. The Klever app connects with leading providers, allowing you to purchase ICP tokens and other 10,000 cryptocurrencies efficiently.
Mobile Crypto Wallet Users
a. Credit Card Purchases: You can easily buy ICP tokens directly with your credit card through the Klever Wallet app.
b. Bank Transfer: Fund your wallet via bank transfer and purchase ICP tokens seamlessly.
c. Apple Pay & Google Pay: Use Apple Pay or Google Pay to buy ICP with your debit or credit card within the wallet app.
Desktop Crypto Wallet Users
Klever Website: Use the “Buy Crypto” feature on the Klever website.
How to buy ICP crypto online?
Follow these steps to purchase ICP tokens online with safety using the Klever website
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Visit the Klever Website
Go to Klever.io/en-us/buy-crypto/buy-icp
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Paste Your Wallet Address
Enter your ICP wallet address to receive the tokens.
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Select the Amount
Choose the amount of ICP tokens you wish to buy.
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Connect with Top Providers
Klever will link you with leading providers to facilitate your purchase.
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Complete the Provider’s Form
Once redirected to the selected provider’s environment, fill in all mandatory fields to proceed with the transaction.
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Transaction Confirmation
After completing the form, confirm the transaction. The funds will be sent to the ICP wallet address you provided.
Buying ICP tokens might seem challenging initially, but with the proper knowledge and resources, it becomes quite manageable. Grasping the essentials of Internet Computer Protocol (ICP), its objectives, and its advantages is vital for making well-informed choices. The ICP token serves more than just as a digital asset; it plays a crucial role in governance, computation, and incentivization within the Internet Computer ecosystem.
Always choose reliable platforms such as the Klever Wallet ensures a safe and secure way to buy ICP tokens. With many payment options, available both for mobile and desktop users, the Klever multi-chain wallet provides you a safe, accessible and user-friendly platform to manage ICP tokens and more than 10,000 other cryptocurrencies. Download the Klever Wallet app for mobile or Klever Extension for chrome based browsers and elevate your crypto experience.
