The year 2008-2009 can be termed as the year of cryptocurrency to the world. The first ever cryptocurrency, Bitcoin was introduced to the world in 2009 and as of June 2023, there are around 25,000 digital coins available in the crypto universe. One such cryptocurrency that minted a strong position in the crypto universe in the short term is the Internet Computer, powered by innovations in cryptography.
What is ICP Crypto and Who Created it?
Internet Computer is a cryptocurrency and a blockchain that aims to bring greater efficiency, speed, and decentralization to data storage and computation. The digital currency was launched by the DFINITY Foundation in 2018 and offered in the public domain in May 2021.
DFINITY Foundation is a non-profit organization based in Zurich, Switzerland, and employs around 300 individuals in research and development. In 2018, 50,000+ were offered with the ICP tokens through an airdrop. One of the key factors that makes Internet Computer different from other blockchains is its potential to develop almost any online platform or service including web social media, without any requirement of any traditional IT. For investors, ICP is a solid choice owing to the business’s solid technological foundations.
What Does ICP Stand For in a Business and How Does it Work?
ICP in terms of business offers a quick and efficient blockchain to enable efficient and decentralized Web3 services. The creation of a decentralized internet with unbiased and independent data centers offers an effective alternative to business cloud services. In addition to this, ICP protocols allow independent data centers across the world to band together, offering decentralized alternatives to the present centralized internet cloud providers. ICP tokens are also used for governance to reward network participants.
Talking about the workings of ICP, Internet Computer blockchain emerged as a fundamental alternative for developers to build, host, and serve applications in a more decentralized way. The blockchain mainly runs on a platform of special computing devices termed as Node Machines which are connected to each other using Internet Computer Protocol.
The Proof-of-Useful-Work model is used by the ICP, holding a governance system called Network Nervous System (NNS) which is accountable for slashing node machines that fail to produce blocks.
How to Buy ICP Crypto?
Buying the ICP crypto is as easy as buying any other cryptocurrency from crypto exchanges. One can buy ICP tokens in four easy steps including a comparison of crypto exchanges, creating an account, making a deposit, and buying ICP. Selecting a relevant crypto exchange that supports the ICP token, creating an account on the respective exchange, linking a bank account, transferring tokens, and striking the same into a wallet is a basic procedure to follow.
Some of the most popular crypto exchanges that support ICP tokens are Coinbase, Binance, OKX, and Huobi Global. After the exchange selection, you need to verify your email address and identity which further allows you to make a deposit.
Modes of Payment and ICP Wallet
Cash, Debit cards, credit cards, and PayPal are some common payment modes that can be used for buying ICP coins.
Buying ICP cryptocurrency with cash is the easiest way and requires the selection of crypto exchanges that support the preferred currency. You just need to fund your account with a preferred payment method.
With PayPal real-time transfers are possible. If you are looking to make an instant transfer and invest a little later, then it is one of the best options to choose. But, one thing to consider here is cross-checking the compatibility of the crypto provider with PayPal, which is currently available for US customers only.
Want to buy using a Debit or Credit card? CEX.IO is a platform you can visit to buy ICP tokens using any card. Creating an account on the site, accessing the buy/sell page, selecting ICP coins, filling in details, and requesting is the simple procedure you need to follow. The platform only accepts cards running on MasterCard and VISA. After purchasing the ICP cryptocurrency, the next thing to do is, safely store the coins in a suitable wallet. The token is compatible with both hot and cold wallets including Plug, NNS, Stoic Wallet, Bitfinity, Ledger, etc.
Thinking of ICP coin value? It is always good to know the current situation of any crypto before investing.
Crypto ICP Price Prediction
Currently, the ICP price is $3.10 with a market cap of $1.3 Billion, a decline of 2.27% is witnessed in the past 24 hours. The past 24-hour volume of the respective coin is $17 Million with a circulating supply of 446,942,395 ICP and a total supply of 508,129,333 ICP.
ICP price prediction for 2025 is between $8.46 to $21.02, which could be a gain of 578.05% when compared with the current value. By the end of 2030, the value of ICP is expected to hit between $17.01 to $21.54, a hike of 594.48% when contrasted with the current price.
Conclusion
ICP blockchain and cryptocurrency emerged as conceived blockchain equipment to manage the processing requirement of the current online services. The idea behind the coin which is decentralization and infinitely scalable smart contracts made the coin much more popular. Another thing to consider is ICP’s price, standing at $3.10 and is forecasted to hit highs in the future.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/10/22/internet-computer-icp-crypto-everything-you-need-to-about/