Cryptos in the world’s top 20 in terms of capitalization dominate the crypto news. However, we would almost forget that there are more than 5,000 cryptocurrencies in the world! The analysis of crypto prices makes it possible to bring out good surprises.
Precisely, today let’s discover a crypto still unknown but which shines by the current performances of its course. In addition, it provides a concrete solution in terms of means of payment.
What is Amp cryptocurrency (AMP)?
Until 2020, Amp cryptocurrency was known as Flexacoin. It is a token used as collateral on the Flexa network. Flexa is the 10th DeFi app at the time of writing this article with over $ 1.8 billion under management. To put it simply, Flexa can be considered as a network similar to the well-known one of Visa or MasterCard. The main difference is that Flexa is designed for payments made with digital assets. Concretely, what is the objective of the Amp cryptocurrency?
When accepted, crypto payments can take a long time to process, from several seconds to a few hours. This is a real handicap that is holding back the adoption of crypto payments for everyday products. Crypto Amp as collateral addresses this problem. How? ‘Or’ What ?
Imagine you want buy a pair of shoes in Bitcoin. As mentioned above, the transaction takes a long time to process. With Flexa, you can pay in Bitcoin and the transaction will take place immediately. The seller receives payment in fiat currency within seconds. To do this, the network places the equivalent amount of the transaction in Amp token under “escrow”. In the event that the Bitcoin payment fails, Amp tokens are used to pay the seller. In this way, the seller receives payment quickly in a guaranteed manner.
The Amp token therefore makes it possible to facilitate and secure asset transfers. From a technological point of view, it is an ERC-20 token which therefore works on the Ethereum blockchain. Today, the Flexa network is used in more than 41,000 locations in Canada and the United States. Proof of its dynamism, Flexa’s last fundraiser took place recently (March 16, 2021) with more than $ 14 million.
Amp (AMP) cryptocurrency price in shape!
Crypto prices are not looking good, to say the least. However, the Amp cryptocurrency has been showing very good performance for several days. If it did not escape the crash in May, its price is recovering sharply. Moreover, on June 11, 2021 morning, the crypto Amp has just signed its historic high with a price of € 0.07.
Out of the last 7 days, the price of the cryptocurrency Amp soared by nearly 70% ! The AMP price is currently around € 0.05.