Cryptocurrencies

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How to obtain ICP coins? Introduction to several methods of obtaining ICP coins

To acquire ICP coins, one can purchase them on cryptocurrency exchanges like Binance, Huobi, and Coinbase, stake DFINITY tokens, earn compute rewards for running applications on the Internet Computer, participate in the ICP Frontier Program, or await potential airdrops and giveaways.

Oct 09, 2024 at 03:00 am

How to Obtain ICP Coins: A Comprehensive Guide

1. Purchase on Cryptocurrency Exchanges

ICP coins can be purchased on various cryptocurrency exchanges, such as:

Binance
Huobi
Coinbase
Kraken
Gemini

To buy ICP coins on an exchange:

Create an account and verify your identity.
Deposit funds into your account (fiat currencies or other cryptocurrencies).
Place a buy order for ICP coins, specifying the desired amount and price.
Once your order is filled, ICP coins will be credited to your exchange wallet.

2. Stake DFINITY Tokens

You can also obtain ICP coins by staking DFINITY (DFN) tokens on the Internet Computer blockchain. By participating in staking, you contribute to network security and validation.

Hold DFN tokens in a wallet that supports DFINITY staking.
Nominate a node operator to validate transactions.
Stake your DFN tokens by locking them for a specified period.
Once the staking period is complete, you will be rewarded with ICP coins.

3. Earn Rewards for Providing Compute

Developers who create and run applications on the Internet Computer can earn ICP coins as a reward for providing compute resources. This is known as subnet compute rewards.

Build and deploy an application on the Internet Computer.
Ensure your application is running consistently and generating value for users.
Track your network usage and ICP rewards through the Internet Computer console.

4. Participate in the ICP Frontier Program

The ICP Frontier program is an incentive program designed to attract talent and promote ecosystem growth on the Internet Computer. Contributors can earn ICP coins by:

Developing high-quality applications or tools for the Internet Computer.
Writing technical articles, tutorials, or code samples.
Engaging in community building and outreach activities.

5. Airdrops and Giveaways

Occasionally, the DFINITY Foundation or other organizations may hold airdrops or giveaways where ICP coins are distributed to participants. To receive these coins, you may need to meet certain criteria, such as following social media accounts, completing tasks, or registering for events.

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