In December 2022, former U.S. President Donald Trump made headlines again, but this time in an unexpected arena - the world of non-fungible tokens (NFTs). The launch of his digital trading card collection shook up the political and crypto spheres, spa...

The sun is shining even brighter at CoinStats! We’ve just rolled out full support for the TRON blockchain. With TRON now holding the second spot in Total Value Locked (TVL) and its native token TRX climbing to the top 10 by market cap, we knew it was ...

CoinStats has recently integrated its 100th blockchain into the portfolio tracker. With over 300 integrated wallets and exchanges, CoinStats offers you the most comprehensive range of integration options available on the market.Today, we’re excited to...

Incident Overview



On June 22, 2024, at approximately 18:00 UTC, our team at CoinStats detected abnormal activity related to transfers involving the third-party supported, non-custodial CoinStats Wallet. In response to this event, we immediately too...

If you want to make better crypto decisions, you need proper portfolio tracking, and that must include accurate profit and loss analysis. Everyone will agree on this.



At CoinStats, we’re committed to our mission of providing top-tier crypto portfol...

We're thrilled to share a batch of updates that make your app even more tailored and intuitive for managing crypto investments. Let's dive into what's new and how these enhancements can improve your crypto journey.



Enhanced Exit Strategy 



W...

We’ve rolled out some exciting updates to our platform that promise to make your crypto tracking experience even more intuitive and insightful. Whether you’re a seasoned trader or just starting, these new features are designed to help you understand a...

The crypto market is on a wild ride UP. In response to this, we've been closely tracking the increasing needs of our users. The top needs are more daily portfolio syncs, more wallet and exchange connections, and faster customer support.



So, we got ...

Every year, we're greeted by the unavoidable annual milestone - tax season! For those residing in tax haven countries, this is probably the last of your worries. However, for the rest of us, taxes are an unfortunate reality we must face sooner or late...

The high volatility makes navigating the crypto market tedious for both, beginners and expert investors. Amid such a scenario, an effective and highly successful strategy is to keep track of your crypto portfolio. Regarding crypto tracking, there are ...

Welcome to the latest update from CoinStats! Entering 2024 with new features that will help you make better investment decisions. Here's a quick look at what's new and how it's going to change your crypto game.  



1 Hour Price Chart Option...

Cryptocurrency investing is dynamic and fast-paced, and having a clear plan for when to sell can make a significant difference. That's why we're excited to introduce a new feature at CoinStats: the Exit Strategy. It's designed to help you set and achi...

Exciting news from the CoinStats team! We've integrated Onramper, a fiat-to-crypto gateway, into our platform. Now, CoinStats users can choose from 182 local payment methods and 17 onramps in over 190 countries. This is an important update aimed at ma...

At CoinStats, we believe the future will be decentralized. As part of our vision, we're super excited to announce our collaboration with OKX, a leading cryptocurrency company. This integration brings OKX DEX (Decentralized Exchange) functionalities an...

Hey friends,



We’re thrilled to share some new changes we’ve made to CoinStats. These updates are designed to make things easier and more straightforward for you. Here’s a quick look at what’s new!



Portfolio Updates



Choosing Networks Simplifie...

With crypto airdrops gaining popularity, keeping track of your wallet’s performance has never been so pertinent.



To help you stay on track, CoinStats introduces its latest feature - Chain Activity. It allows users to keep tabs on their wallets' act...

CoinStats transforms for Q4! Brace yourself for a refined, redefined, and revamped experience. We're thrilled to announce exciting upgrades driven by your feedback and our dedication to continuous improvement. Here's an overview:



1. CoinStats Walle...

GM, CoinStats community!



We're thrilled to unveil some pretty magical updates to CoinStats. Our team has been hard at work behind the scenes to offer these new features for an enhanced crypto-tracking experience.



We’re bringing you a more comfor...

At CoinStats, we're on a mission to streamline your crypto portfolio management. Prioritizing innovation, we're pleased to announce a new partnership with Bitget, a leading cryptocurrency derivative exchange platform. 



About Bitget 



Bi...

zkSync Era and Base were integrated with the CoinStats Portfolio tracker only a day after their launch. And now it's high time you have them in your CoinStats Wallet as well!



zkSync Era is a cutting-edge Layer 2 Ethereum scaling solution and the pi...

The crypto markets have been in turmoil lately since it reached its all-time high in 2021. Due to the bear market of 2022, Bitcoin price is down 70% from its November 2021 all-time high price of $69,000, and crypto investors worldwide have faced massive losses this year. Altcoins are no better, with Cardano (ADA) and Solana (SOL) shedding more than 70% and 55% of their value. Moreover, the crypto market cap is below $1 trillion, down about 55% from $2.2 trillion at the beginning of the year. 



However, if you’re a crypto veteran or have studied the limited but wild history of crypto, you probably know that with max pain in the industry comes an opportunity to bounce back higher.



AMP token is down by over 90% since its all-time high. If you're among investors whose portfolio is down heavily, you might consider generating passive income by AMP token staking and weathering the storm while waiting for the next bull run rather than selling them at a loss.



The AMP token and staking platform were launched as the brainchild of the Flexa network, one of the leaders in digital-only payments, which claims to be the fastest and "most fraud-proof payments network in the world." AMP is an open-source digital collateral and asset token that allows instant, efficient, and irreversible collateralization of any type of value transfer.



Read on to learn everything you need to know about the AMP token, how AMP staking works, and where and how to stake the AMP token to make the most of your crypto holdings.



Let's get right to it! 




Key Takeaways

If you're among investors whose portfolio is down heavily, you might consider generating passive income by AMP token staking and weathering the storm while waiting for the next bull run rather than selling them at a loss.
AMP is an open-source digital collateral and asset token that allows instant, efficient, and irreversible collateralization of any type of value transfer.
AMP can secure any type of asset users want to transfer, ranging from digital payments, fiat currency, cryptocurrency, loan distributions, and proceeds from actual and virtual property sales.
Staking AMP on the Flexa Network via the authorized Flexa Capacity App is the most popular and most straightforward way to generate passive income by AMP token staking.






What Is the AMP Token?



The AMP tokens were created by the Flexa Network, one of the world's fastest and fraud-proof networks, that enables secure and speedy crypto payments with its Flexa app. AMP is an open-source ERC-20 token used as a collateral token to facilitate the immediate settlement of payment transactions by implementing conditional rights using smart contracts along with a partition scheme. Collateral token partitions can collateralize any account, application, or transaction whose balances can be directly verified on the Ethereum blockchain. Token partitions can be managed separately with AMP token contracts allowing different collateral managers to enforce unique sets of rules that allow for special functions and capabilities. This way, users can stake tokens without any asset transfers to another smart contract, thereby preserving asset custody while increasing the safety of staking collateral.



The AMP collateral partition strategy is designed to facilitate interoperability in staking contracts.



According to the Amp website, AMP can secure any type of asset users want to transfer, ranging from digital payments, fiat currency, cryptocurrency, loan distributions, and proceeds from actual and virtual property sales.







Got AMP?

Make it work for you



Earn Now






AMP Tokenomics



Launched in September 2020, the AMP token total supply is 99 billion, and its circulating supply is 77.05 billion tokens. You can check the AMP token current price and other metrics at AMP Price on CoinStats.



The total staked volume of the AMP token offers a precise metric of the Network's health; more staked AMP implies fewer tokens are available in the market, boosting the scarcity attribute that can drive the AMP tokens' value.








What Is Staking?



Blockchains use a consensus mechanism to verify data and transactions on the blockchain network. Proof-of-Work (PoW) and Proof-of-Stake (PoS) are two of the most prevalent consensus mechanism algorithms, each of which works on different principles.



In a Proof-of-Work blockchain, transactions and data are verified using a method called mining, in which miners have to solve complex mathematical problems to verify and process transactions and add them as a new block in the blockchain. The PoW mechanism of verifying transactions on the blockchain is robust and secure but also energy inefficient and causes scalability issues by hindering the number of transactions that can be processed by a blockchain simultaneously.



On the other hand, in a PoS consensus, a participant node is allocated the responsibility of maintaining the public Ledger in proportion to the number of virtual currency tokens it holds. On a Proof-of-Stake blockchain, the right to verify transactions is assigned to users randomly based on the number of tokens they have staked. So, holders of a required number of coins can earn staking rewards and participate in validation, i.e., verify transactions as needed. Participants staking their crypto in a PoS blockchain for an agreed-upon 'staking period' to provide value to the Network and earn rewards in return are called validators.



A Proof-of-Stake blockchain is less power-consuming and, therefore, solves scalability issues faced by a Proof-of-Work blockchain. This is why the Ethereum blockchain recently shifted from PoW to PoS consensus mechanism through "The Merge."



You can learn about staking in detail with our detailed guide, What Is Staking. 



Staking only applies to blockchains that utilize the Proof-of-Stake (PoS) consensus mechanism to validate transactions. Users can stake cryptocurrency tokens on any staking platform of their choice. Most staking platforms are user-friendly and easy to use, so you can start staking on almost all major crypto exchanges, like Coinbase, Binance, etc., without prior experience.



How Does AMP Staking Work?



Amp is designed as a platform for collateralizing asset transfers and staking AMP guarantees any form of value exchange, including digital payments, fiat currency exchange, loans, etc. Once staked to a partition, Amp is ready to collateralize a transfer. With the use of collateral pools, Amp effectively decentralizes the risk of asset transfer, especially for fraud-proof networks and real-world applications.



Staking AMP on the Flexa Network via the authorized Flexa Capacity App is the most popular and most straightforward way to generate passive income by AMP token staking. AMP stakers supply Flexa Network with the collateral to conduct merchant transactions and become a vital component of the Network's security infrastructure.



Flexa requires each wallet app to have its own collateral pool that will not be limited or closed, enabling you to purchase and stake Amp in any pool.



In return for staking their AMP tokens, users are given out AMP rewards in proportion to their staked AMP tokens. The annual percentage yield (APY) guaranteed by staking is determined by the number of operations in a particular wallet and the amount of AMP staked in that same wallet. Therefore, by providing 10% of the total staked AMP for a particular wallet, you'll get 10% of the total fees generated on Flexa by the wallet's users. The more staked AMP users have and the longer they stake them, the higher the return on staking rewards will be. Wallet apps performances contribute to the AMP token value, which contributes to the Network's value. The staking rewards come from the network fees on the Flexa network and are distributed amongst the AMP holders. 



Now that we've provided an answer to the question "how does AMP staking work," let's get into a quick guide on where and how to stake AMP tokens to start earning on your crypto.




Fast Fact
The more staked AMP users have and the longer they stake them, the higher the return on staking rewards will be.





How to Stake AMP on Flexa?



As the issuer of the AMP tokens, the Flexa network is the best place to stake AMP through the Flexa Capacity DApp and earn AMP staking rewards. In so doing, you'll not only earn passive income but also contribute to the Network's security.



Follow the steps highlighted below to get your AMP staked in no time. 




Go to https://app.flexa.network/ and connect your cryptocurrency wallet like MetaMask or another available hardware wallet.



Select one of the staking options displayed.



Select the app to stake AMP and how many AMP tokens you wish to stake, then click continue.



Once the transaction goes through, you'll see staked AMP balance and the rewards appearing.




Congratulations on staking AMP on Flexa!



You can also easily unstake the AMP tokens through the steps described below. 




Connect your wallet and click Move.



Choose the number of AMP tokens you want to unstake and click Continue.



Wait for your collateral to unstake; timing depends on network conditions.



Select Move to Wallet to withdraw the tokens to your wallet, and click Continue.



The transaction will go through, and the AMP tokens will be back in your wallet.




How to Stake AMP On Binance?



  Stake AMP On Binance Earn



While staking AMP on Binance won’t contribute to the security and functionality of the Flexa network, it allows AMP holders to earn passive income, especially during a bear market. Moreover, staking on Binance is very easy, and you can also buy AMP coins to stake. Follow the steps described below to stake AMP on Binance. 



Create a Binance Account



If you don't have a Binance account, then the first step is creating an account on Binance. Binance, like many other cryptocurrency exchanges, offers a hassle-free registration with only an email address or valid mobile number. A link will be sent to your address or mobile phone, and you must click it to verify your account. Once the account is activated, you must create an elaborate password, and you’re good to go.



While Binance doesn't have mandatory KYC and AML requirements, users must complete the KYC verification process to gain full access and increase higher deposits and withdrawal limits. You must provide personal information and a government-issued identity card to verify your account.



Once your identity verification is complete, it’s recommended to activate two-factor authentication (2FA) for an extra layer of security.



Buy or Deposit AMP Tokens



After setting up your account, the next step is to deposit AMP into your Binance account. You must send AMP coins from your cryptocurrency wallet to your Binance account. On the other hand, if you don't own AMP tokens, you can easily buy them on Binance using fiat currencies, credit or debit cards, bank transfers, or peer-to-peer transactions.



Stake AMP



Once you have the required amount of AMP tokens in your Binance wallet, you're all set to start your AMP staking. Go to Binance Earn and search for AMP. Choose among the options depending on the type of staking products, how much you're willing to stake, and the lock-up period. Enter the amount of AMP you wish to stake, agree to the terms and conditions, and confirm the transaction. You'll see the staked tokens and the rewards you receive in your Binance Earn wallet.



AMP Staking Benefits



As an AMP token holder, staking can be one of the best ways to earn on your holdings because of the reasons described below:




Staking AMP is one of the best ways to receive rewards, especially in a bear market when cryptocurrency prices are down historically.



As the number of people staking AMP increases, the Network becomes more secure and processes more transactions. Similarly, the rewards given out from the transaction fees also increase. 



As more people stake their tokens and earn AMP rewards, crypto's real-world adoption will become a reality. 



The more AMP tokens are staked, the fewer tokens are in circulation. This would create scarcity and push the price higher, enabling you to earn profits on your investment. 




AMP Staking Downsides



Like with any investment, staking AMP carries the following risks described below:




The AMP price has been descending, and since the tokens' supply is high, the chances of its price rising significantly are low. 



To earn significant returns on staking, you must stake large amounts of AMP, which might not be possible for all. 



Significant risks are associated with all cryptocurrencies, as they are an extremely volatile asset class, and many aspects of cryptocurrency remain unregulated.




Final Thoughts



AMP is one of the most innovative tokens in the crypto market, aiming to solve scalability and speed issues that have plagued the blockchain industry for a while. When using AMP as collateral, users benefit from the security, transparency, and efficiency of an immutable ledger. Staking AMP allows you to earn passive income on your holdings and contribute to the project's security and development.



Disclaimer: This article is for educational purposes only, and nothing in this article is a piece of investment or financial advice. Users should do their research before investing in cryptocurrencies, as they are highly volatile and unregulated. 

Hi, CoinStats community!  



We're excited to share with you our latest feature, the Crypto Mystery Box. 



So, what's in it for you? Let's look into it.



Unveiling the Crypto Mystery Box  



Crypto Mystery Box is a uniqu...

Decentralized Autonomous Organizations (DAOs) built with blockchain technology have the potential to reshape traditional financial structures toward greater inclusivity, transparency, and efficiency. DAOs have revolutionized the cryptocurrency space b...

On July 3, the LTC price reached its new 2023 high of $114, rising by nearly  53%, with its market cap crossing $8 billion. The approaching halving event scheduled for August 2023 sparked enthusiasm among investors, hoping it would further boost ...