Exchange Amp (AMP)
If you're looking to swap Amp, SwapSpace is your one-stop shop. We have some light reading for you — in case you'd like a refresher on what is Amp, or some fresh information about AMP’s price movements. And, of course, we provide you with multiple Amp exchange options so that you can choose the offer with the best rates and lowest Amp fees, as well as other parameters that suit you.
Amp Price Stats
To help you make a decision about exchanging your Amp, we gathered some cold hard numbers: Amp price chart and other stats, such as Amp market cap.
AMP 24H HIGH $0.00589999986294
AMP MARKET CAP $474,376,088.008
AMP CIRCULATING SUPPLY 99,446,102,353.678 AMP
AMP 24H LOW $0.00464055880142
AMP PRICE $0.00477018281039
AMP 24H VOLUME $8,304,722.525
Amp Price Chart
Here you can see the current price of Amp, as well as Amp price history.
What is Amp?
The Flexa Network is a blockchain-based payment network designed to enable instant and secure cryptocurrency payments at traditional retail stores. The network uses its cryptocurrency called AMP as collateral to facilitate these transactions.
The Flexa Network was launched in 2019 with the goal of facilitating cryptocurrency payments at retail stores. The project aimed to address the adoption challenges of cryptocurrencies in day-to-day transactions by providing a platform that allows users to spend digital assets at traditional brick-and-mortar merchants.
The Amp token came to life on September 8, 2020, thanks to a team effort from Flexa and ConsenSys. Flexa, known for making payment networks more accessible, worked hand-in-hand with ConsenSys, a software engineering company with a focus on Ethereum. Together, they created Amp to bring innovative payment solutions to people worldwide.
Tyler Spalding, the CEO of Flexa, has been at the forefront of these efforts. They made a significant move on September 30, 2020, by shifting from Flexacoin to Amp, a strategic decision in their journey. Amp released its whitepaper on November 24, 2020. This document outlines their goals, vision, and how they plan to revolutionize decentralized payments.
Flexa aims to provide a seamless and instant payment experience by utilizing blockchain technology. Users can make cryptocurrency payments in retail stores through the Flexa app. Flexa initially focused on supporting Bitcoin, Ethereum, and other major cryptocurrencies. Users can fund their Flexa wallet with these cryptocurrencies and use the Flexa app for payments.
The native AMP token acts as collateral to secure transactions on the network, providing merchants with assurance in case of any payment issues. AMP tokens are staked to cover potential fraud or transaction disputes.
Flexa Network utilizes AMP as its primary collateral token to secure retail payments on its digital payment platform. The token, distinct from Flexacoin, migrated at a 1:1 ratio. The decentralized collateral mechanism of Flexa ensures quick and unconditional guarantees for all merchant transactions, eliminating the need for external protocols or network intermediaries. Each transaction is required to be fully collateralized, mitigating issues related to fund verification and payment fraud.
AMP is an ERC-20 token based on Ethereum, and merchants in the Flexa network are charged a nominal percentage-based fee for each transaction. This fee covers the cost of Flexa's finality-as-a-service and fraud-eradication services. Revenues generated are used to autonomously buy AMP tokens on the open market, distributing them to collateral contracts.
To act as collateral for asset transfers, AMP introduces two innovations: collateral manager and token partition. Collateral managers, akin to escrow or custody accounts, can be customized for various use cases. Additionally, token partitions allow the handling of individual sections, enabling multiple collateral managers to apply rules to distinct regions under the same digital address. This feature allows users to stake tokens without physically transferring them to a smart contract, making AMP suitable for various value exchange scenarios.
Flexa uses AMP to facilitate rapid and fraud-free payments to merchants in its network. Apps integrating Flexa stake AMP to ensure real-time clearance of all payments, regardless of asset or protocol.
Users can utilize AMP to collateralize their asset transactions, providing margin relief on exchanges. Delegating AMP to a collateral manager allows users to transfer other assets without incurring significant transaction fees, as AMP serves as escrow against the transaction amount.
The AMP token has a total supply of 99,444,125,026 AMP, and as of November 28, 2023, the circulating supply is 42,227,702,186 AMP.
Flexa aims to increase cryptocurrency adoption by enabling merchants to accept payments in digital assets without the need for additional hardware or point-of-sale integrations. The Flexa Network leverages decentralized security measures through the use of smart contracts and the AMP token to secure transactions and prevent fraud.
Many DeFi protocols and platforms incorporate AMP to enhance collateral quality in response to the global surge in finance. AMP's flexibility makes it suitable for use in various decentralized financial applications and services.
The average fees on AMP
As AMP is an ERC-20 token, the typical fees associated with Ethereum transactions will apply. These fees include gas fees, which are required to process and validate transactions on the Ethereum network. The exact cost of these fees can vary depending on network congestion and the complexity of the transaction.
The AMP token wallets
As an ERC-20 token, AMP can be stored in wallets that support the Ethereum blockchain and are compatible with ERC-20 tokens, including Ledger Nano S/X, Trezor, MyEtherWallet, Exodus, Atomic Wallet, Trust Wallet, Coinomi, MetaMask, Binance, etc.
A Simple Way To Exchange Amp Here At SwapSpace
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Choose the cryptocurrencies you would like to exchange among more than 2550 coins and tokens. Pick them from drop-down menus. Type the number of coins you want to swap.
Select the best rate
Send the exact amount to the address provided and receive the crypto in your wallet within minutes. Don’t have a wallet yet? Our support will recommend a good one!
Receive your coins
You’ll get your coins in a few minutes! The exact time is a subject of various parameters such as blockchain network workload, transaction volume, our partners’ processing speed, etc. Concerned about your transaction? Check the swap tracker or feel free to contact the support: firstname.lastname@example.org.