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What is Amp?
Amp is a collateral token designed to facilitate secure and efficient transactions on the blockchain. It serves as a digital asset that provides collateral for parties to ensure that transactions are secure and completed quickly. Amp is built on the Ethereum blockchain as an ERC-20 token and is primarily used within the Flexa payment network to guarantee crypto-based payment settlements.
How does Amp work?
Amp utilises smart contracts on the Ethereum blockchain to manage collateral for transactions. These smart contracts involve two main components: collateral partitions and collateral managers. Collateral partitions are used to collateralize different transactions or accounts, allowing for balances to be verified on the blockchain. Collateral managers are responsible for locking, releasing, and redirecting collateral in these partitions to support value transfer, enabling transactions to be processed securely and efficiently.
What are the potential use cases for Amp?
Amp can be applied in various scenarios, such as:
- Collateralization for DeFi platforms: Helping secure loans and lending in decentralised finance applications.
- Staking for rewards: Users can stake Amp tokens to earn rewards.
- Instant payments in e-commerce: Enabling fast, secure transactions for online commerce.
- Fiat currency exchanges and property sales: Providing collateral for different financial transactions and transfers in real estate and other markets.
- Governance: Allowing stakeholders to participate in governance decisions within the Amp community.
What is the history of Amp?
The Amp token was developed by the blockchain payments company Flexa, with its roots going back to the founding of Flexa in 2018. Amp was conceptualised in 2019 as a means to provide collateral for Flexa's payment network. The token was officially launched in September 2020, integrating with Flexa to enable secure and immediate crypto payments. Since its launch, Amp has been adopted by over 40,000 stores, including major retailers, positioning itself as a key player in the decentralised finance and e-commerce landscapes. Amp operates as an open-source protocol and continues to enhance its utility and market presence.
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The information presented in this comparison table is for educational purposes only and is not an investment recommendation for your personal circumstances. Past performance is not an indicator of future performance.
The data points in this table are sourced as follows: ASX200 from Google’s ASX200 index price, Gold from ABC Bullion’s website (abc bullion.com.au), and BTC from CoinGecko (coingecko.com.au). All data is recorded at 10 am AEST on the first day of each calendar month.
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Frequently Asked Questions (FAQs)
What is the current price of AMP (AMP)?
The AMP price is $0.01257684 AUD, representing a -0.01% from the day prior.
Where is the best place to buy AMP (AMP) in Australia?
The best place to buy AMP (AMP) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell AMP (AMP) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of AMP (AMP)?
The trading volume of AMP (AMP) is $38.4M AUD in the last 24hrs, representing a -0.01% from the day prior.
How can I buy AMP (AMP)?
AMP (AMP) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of AMP (AMP)?
The current market cap of AMP (AMP) is $1.0B AUD.
Can I convert AMP (AMP) to cash?
Yes - With Coinstash you can convert your AMP (AMP) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many AMP (AMP) are there?
The current circulating supply of AMP (AMP) is 84.2B.
Is Coinstash a safe place to buy AMP (AMP) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling AMP (AMP) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.