What is Internet Computer (ICP)?
A new type of protocol has been developed to take advantage of decentralization. The ICP network is only the first layer; it uses P2P protocols to provide different services from file storage, content distribution, and processing for cryptocurrency integration.
The Internet Computer Project aims to be the internet computer, providing the functionality of a public internet, and allowing backend software to be hosted on the network. ICP is the token created for this project which will govern it’s protocol.
The Internet Computer aims to reverse the monopoly that Big Tech companies such as Google and Facebook have over the traditional Internet. ICP is developed by a decentralized open source protocol, which essentially allows developers to build on the internet with the help of autonomous software. Developers are capable of building apps that are of the quality that helps businesses thrive – websites, enterprise systems, Internet services, and decentralized financial applications.
Dfinity – the creator of the Internet Computer – is in search of a decentralized network solution. This project aims to achieve this by removing reliance on servers & commercial cloud services when operating locally. The company’s ultimate goal is to make the Internet much cheaper & more efficient overall!
In this way, it is able to process transactions much more quickly. In particular, it does not use older blocks in the chain and operates at a much more efficient web-like speed. The utility token of the Internet Computer Protocol, ICP can be staked, “converted into cycles”, and used to run websites & different decentralized applications. The protocol also allows for community participation in governance.
You can get ICP easily in a few steps!
Step 1: Sign up to Binance
Step 2: Fund you Binance account
Step 3: Trade you crypto for ICP
How, When and Where can I buy ICP?
Binance is a good option to trade on because of its low fees, security, and easy use. Binance is one of the most popular crypto exchanges and offers a variety of features to make trading easy and efficient.
Binance is a popular exchange that offers a variety of trading options. It is secure and convenient, with low fees for deposits or withdrawals.
Binance is a blockchain-based trading platform that has emerged as one of the most popular platforms among traders. It offers a variety of cryptocurrencies, including Bitcoin, Ethereum, Ripple and Verge.
Binance is a cryptocurrency exchange that offers its users low fees and high security. With the platform’s user-friendly interface, it is easy to use for beginners familiar with trading cryptocurrencies. The platform offers spot trading for Bitcoin, Ethereum, BNB, Bancor, ZRX & more.
Binance, a popular cryptocurrency exchange is a good option to trade on because it allows traders to make transactions in a wide range of cryptocurrencies including Bitcoin, Ethereum, Litecoin and more. They have an array of features including the ability to trade futures and options on this platform.
Binance is a cryptocurrency wallet and exchange that offers many features to help traders. It’s the go-to option for digital currency enthusiasts looking to make a profit.
Step 2: Fund you Binance account
Binance is a cryptocurrency trading platform that allows users to trade cryptocurrency for fiat or other cryptocurrencies. In order to reduce the fees associated with trading, the company only charges a 0.09% fee on total volume. This can be an appealing investment opportunity for those looking for high returns with low risk.
One way to fund your binance account with btc is by using the Binance cryptocurrency exchange. The platform offers investors the ability to buy and sell bitcoin, ether, or litecoin. This method is also relatively quick compared to other options like Credit Cards or Paypal.
You need to fund your new binance account with BTC.
You could also send your BTC to the binance account if you have some elsewhere!
So if that’s not the case go ahead and buy BTC with your debit/credit card
how to fund your binance account with bitcoin
Once you’ve bought your BTC, make sure to check your wallet and your icp will be in there!
Step 3: Trade you crypto for ICP
So next up, what will have to do is trade our BTC for ICP! Lets get started here.
On the trading platform click on trade and you will see this image below, it may seem scary at first but once we break it down its very simple to understand and you will be an expert in no time at all.
If you type ICP in the top right of the trading platform you will lathe see all of the available pairs that you can trade. We will be using the BTC/ICP trading pair in this guide, if you have anything else that trades with ICP then that can work just fine.
Once you have choosen the amount you want to trade with the sliding scale percentage, or by typing in the amount click buy!
But wait you need to know, you have the option of market or limit order.
Market orders are the most common type of order. With market orders, traders are guessing what the market is going to do in real time. Limit orders specify a price at which an investor can buy or sell an asset.
All done you now own ICP!
ICP is one of the most promising cryptocurrency projects to come out recently. It consists of talented cryptography experts and has lot of well-known venture backers. So it has really high potential at the moment, which assures that you will be able to make good money by investing in DFINITY’s coin.
Despite the advantages that ICP offers, Ethereum will still likely remain the top smart contract enabled blockchain in 2021.
On the Internet Computer’s network, that token is primarily utilized for processing power on the ICP network. This usage allows you to convert tokens into a deflationary currency with time & effort saved.
There are 469 million tokens circulating right now with 123 million of them currently in circulation.
There is a possibility that freshly generated tokens devalue some of your tokens.
This piece of technology has seen its value decline significantly since its highs in May. It is now selling for roughly $370 which is half of its all-time high price. It has a considerable market valuation of around $46 billion
Like blockchain, ICP ⚡️ Crypto could help the internet adapt to an even more decentralized digital ecosystem. It could also contribute to reclaiming the internet for all of its people and create a fairer & more equitable digital world. If you believe the people behind Internet Computer can usher in the next generation of the internet, it is trading at a discount. Of course, their is a risk with every investment and the opportunity of achieving such a grand task as attaining technological superiority cannot be overestimated.