Last update: Jun 6, 2022

How to Buy Internet Computer (ICP)

So you’re looking for a guide on how to buy Internet Computer. Depending on where you live, you’ll have different cryptocurrency trading platforms to choose from.

In this guide, we not only cover the top 3 global crypto exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

How to Buy Internet Computer – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Internet Computer of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency trading platforms.

4. Buy Internet Computer

Now that you have what you need to buy Internet Computer, head over to the market or buy section of the crypto trading platform and buy some ICP.

If the crypto exchange doesn’t have any Internet Computer on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Internet Computer first), and trade your Ethereum for Internet Computer.

Where to Buy Internet Computer (ICP)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Internet Computer

1. Sign into the crypto exchange where you bought Internet Computer.
2. Move your Internet Computer to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
3. Sell Internet Computer.

 

How to Buy Internet Computer (ICP) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Internet Computer in Australia, the process remains the same:

1. Find a crypto exchange below.
2. Sign up for an account.
3. Fund your account with AUD.
4. Buy Internet Computer if it’s available. If the exchange doesn’t have Internet Computer. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Internet Computer), and trade your ETH for Internet Computer.

It’s also possible to check out our comparison of the most popular crypto exchanges in Australia for those interested in learning more about the exchanges we like.

How to Buy Internet Computer (ICP) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Internet Computer in Canada, the process remains the same:

1. Find a cryptocurrency trading platform below.
2. Sign up for an account.
3. Fund your account with CAD.
4. Buy Internet Computer if it’s available. If the exchange doesn’t have Internet Computer. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Internet Computer), and trade your ETH for Internet Computer.

Alternatively, if you want to know more about the exchanges we prefer, read our list of the easiest crypto exchanges in Canada.

How to Buy Internet Computer (ICP) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Internet Computer in the UK, the process remains the same:

1. Find a crypto exchange below.
2. Sign up for an account.
3. Fund your account with GBP.
4. Buy Internet Computer if it’s available. If the exchange doesn’t have Internet Computer. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Internet Computer), and trade your ETH for Internet Computer.

You can also take a look at our analysis of the top rated UK crypto exchanges if you’re curious to know more about which ones we would recommend.

Considering buying Internet Computer? ICP Rundown

Internet Computer (ICP), a decentralized blockchain network, was launched by the DFINITY Foundation in May 2021. It has a global goal of pushing the boundaries of Internet functionality and supporting smart contract development on a larger scale. The project has many advantages, including a highly skilled team of crypto enthusiasts as well as the ability to build dApps using smart contracts. ICP also supports almost unlimited scalability, as well as a high level security through a system that checks.

Internet Computer's mission is to transform the public Internet into an international computing platform. Internet Computer is a revolutionary network that developers have made possible by the fact that the blockchain is freely available and has impressive functionality. The project also provides an environment that is borderless for smart contracts. It runs at web speed and has lower computational costs.

Internet Computer allows developers to create DApps and upload their code on the Internet. Transactions can also be made faster and more cost-effectively with ICP. The creators claim that the project allows users to choose between commercial cloud services and centralized services.

ICP's application of decentralized technology to Internet is the key feature that makes them unique. This project seeks to give developers and users the power they need to access the Internet. It also enlists the support of all those who host or participate in the network. Internet Computer's purpose is to expand the public Internet. It introduces Chain Key Technology, which is a set cryptographic protocols. These components include Threshold (a consensus model), Non Interactive Distributed Key Generation (NI-DKG), Network Nervous System (NNS) (an on-chain governance mechanism), and decentralized identification a.k.a. Internet Identity.

Chain Key Technology is the scientific breakthrough behind Internet Computer. It allows you to add nodes, create subnets, scale, replace nodes that are defective, restore subnets, update the Internet Computer Protocol and its features, as well as fix bugs.

Chain Key Technology, which is the engine that drives Internet Computer's network and operations, is therefore the engine of the entire ecosystem.

It works by allowing the Internet Computer to perform transactions in as little as 1-2 seconds. The technology also increases network scalability through the addition of nodes and the generation subnets.

This technology has a number of advantages. One is the fact that it simplifies transactions thanks to one public key. The blockchain also provides a flexible method to verify transactions.

The Internet Computer team also plans to make all source code available to the public by 2022. This will undoubtedly give ICP another boost.

Related:

• How to Buy Injective Protocol (INJ)
• How to Buy IOST (IOST)