Amp Explained: Everything You Need to Know
Amp (AMP) is an ERC-20 token built on the Ethereum blockchain. It serves as decentralized collateral for the Flexa payment network, which enables fast and secure crypto-based payments. By providing collateral for transactions, AMP ensures that merchants receive payments instantly, even if blockchain confirmations are delayed.
Holders of AMP can stake their tokens to support the network and earn rewards in the form of additional AMP tokens.
How Is Amp Used?
Amp is primarily used as collateral within the Flexa payment system. When users stake their AMP tokens, they back transactions on the Flexa network. This collateralization ensures that merchants are paid instantly, even if the underlying blockchain transaction hasn’t yet been confirmed.
This system enables:
Fast transaction processing
Secure payment settlements
Reliable payment assurance for both buyers and sellers
How to Store Amp (AMP)?
Amp tokens can be stored in any wallet that supports ERC-20 tokens on the Ethereum blockchain. Depending on your preferences for convenience, security, and staking, here are the most common wallet types:
Software Wallets
MetaMask – Browser extension wallet with dApp access and AMP support
MyEtherWallet (MEW) – Web-based Ethereum wallet with full AMP support
Atomic Wallet – Multi-asset desktop wallet with built-in AMP buying/staking features
Exodus – Cross-platform wallet for AMP and other assets, supports staking
Trust Wallet – Secure mobile wallet with dApp integration and AMP support
Hardware Wallets
Ledger (Nano S / Nano X) – Popular hardware wallets supporting AMP and secure offline storage
Trezor – Secure hardware wallet with AMP compatibility and integration with Ethereum-based apps
CoolWallet Pro – Bluetooth-enabled wallet offering wireless AMP staking and storage
SecuX V20 – Touchscreen hardware wallet with full ERC-20 token support, including AMP
Mobile Wallets
Coinbase Wallet – Non-custodial mobile wallet supporting AMP and other ERC-20 tokens
AlphaWallet – Ethereum-focused wallet with DeFi and staking support
imToken – Mobile wallet with AMP compatibility, DEX access, and NFT support
Rainbow – Easy-to-use Ethereum wallet with strong UX and AMP support
Opera Touch – Mobile browser with built-in crypto wallet supporting AMP
Web/Exchange Wallets
Coinbase – Centralized exchange where AMP can be bought, sold, and stored
Guarda Wallet – Non-custodial web wallet for secure AMP management
Other Options
Flexa Capacity – Platform-specific AMP staking solution to earn passive income
Kriptomat – European platform offering AMP buying and wallet storage.
How to Buy Amp (AMP)
You can purchase AMP tokens through several trusted platforms. Here’s a general step-by-step guide:
1. Choose a Platform and Create an Account
Gemini – Sign up on the website or app (iOS/Android/Galaxy Store)
Coinbase – Open a secure crypto exchange account
Changelly – Select crypto, fiat, and country to start
Securities.io – Compare exchanges that list AMP
Binance – Register via app or website and complete verification
2. Verify Your Account
Gemini: Complete KYC in the “My Account” tab
Changelly: Verify identity for security purposes
Binance: Submit ID and complete verification
3. Link a Funding Source
Gemini: Add bank transfers, wire transfers, debit cards, Apple/Google Pay
Changelly: Choose from debit/credit cards, Apple Pay, or bank transfers
Binance: Use cards, bank deposits, or third-party payment services
4. Buy AMP
Gemini: Enter amount, select payment method, confirm purchase
Changelly: Enter your wallet address and complete the payment
Binance: Search for AMP, select payment method, and place your order
5. Store Your AMP Tokens
Gemini & Binance: Keep tokens in your exchange wallet or transfer to a personal wallet
Changelly: Tokens are sent directly to your wallet address