Dfinity logo, developer of Internet Computer coin
Source: Dfinity Foundation Facebook

How to Buy Internet Computer (ICP) Coin and Whether You Should

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May. 13 2021, Published 10:04 a.m. ET

The Internet Computer (ICP) coin has become the eighth most valuable cryptocurrency in terms of market capitalization since its public launch on May 10. The ICP is developed by the Dfinity Foundation, which includes the strongest minds in cryptography on its teams.

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The ICP cryptocurrency promises consumers an enhanced blockchain experience. Here’s how investors can buy the ICP coin.

Why Internet Computer coin's price is going up

The ICP cryptocurrency is currently trading at $330 and has a market capitalization of about $40.8 billion. On May 10, the price surged to $731, but dropped within minutes and reached as low as $146.

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how to buy internet computer icp coin
Source: Dfinity Foundation Facebook

The Dfinity Foundation, the crypto’s founders, expect the Internet Computer coin to become a decentralized variant of the internet. The Internet Computer blockchain makes use of smart contracts—similar to what Ethereum blockchain does—which can power various applications and platforms. The developers might create websites and other internet services, including social media platforms or messaging apps, with the help of the Internet Computer blockchain technology.

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However, unlike Ethereum, Dfinity claims that the Internet Computer blockchain is both simpler and less expensive. It operates at web speed and can expand its capability in response to demand.

How to buy Internet Computer coin

There are various options to buy ICP if you intend to add it to your wallet. Some of the most well-known exchanges for ICP are Huobi Global, OKEx, Binance, and Coinbase Pro.

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How to buy an ICP coin on Coinbase

You can buy an ICP token on Coinbase with USD or a stablecoin like Binance or Tether. If you already have cryptocurrencies, you can use Coinbase's conversion function to convert cryptos to ICP coin.

If you don’t have an account with Coinbase, signing up is simple. You can open an online account after identity verification. You should keep your social security number, home address, and driver’s license number handy. Next, you should download Coinbase Wallet to store your crypto assets and protect them from hackers.

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You are all set to purchase ICP coin as a limit or market buy order. A market order will be executed instantly at market price, while limit orders will only be executed when the price of ICP falls below the specified price. Lastly, you need to select the asset type as ICP and enter the amount you would like to buy based on cryptocurrency or your local currency.

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Best way to buy Internet Computer coin

The best place to buy, sell, or convert your ICP tokens is Coinbase. It allows you to convert your ICP tokens to any other supported cryptocurrency on the platform for free. When you want to sell your ICP tokens, Coinbase makes it simple to payout directly to your bank account.

Is Internet Computer coin a good investment?

There isn't any doubt that the ICP is a promising cryptocurrency project. The ICP has an outstanding team of experts in cryptocurrency and blockchain technology and is backed by prominent venture capital firms. Despite all of the advantages provided by ICP, only time will tell whether the project can surpass Ethereum as the leading smart contract-powered blockchain.

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