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What is an AMP coin?

  • $AMP crypto refers to the digital asset associated with the Amp network, which is designed to provide instant and reliable collateralization for various financial transactions. As the native token of the Amp network, $AMP serves as a collateralization mechanism, allowing users to secure transactions by locking their tokens in smart contracts.

What is an AMP Loan?

  • An AMP loan is the loan borrowed against AMP cryptocurrency as collateral. Here’s how it works: you bring some cryptocurrency AMP to a lending service, leave it there temporarily as collateral, and get an amount of a certain cryptocurrency in return. On CoinRabbit AMP lending, we lend stablecoins such as Tether USDT, USD Coin and BUSD.

Learn more about Amp Loans

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FAQ

What is AMP used for?IconPlus

$AMP crypto is primarily used for collateralization within the Amp network. As a collateral token, $AMP provides instant and reliable collateral for transactions conducted on decentralized platforms. By locking $AMP tokens in smart contracts, users can secure their transactions and mitigate counterparty risk. This collateralization mechanism enables seamless and trustworthy value transfer across different blockchain networks.

Why should you consider an AMP loan?IconPlus

  • Collateralization: One of the main benefits of $AMP crypto is its ability to provide instant and reliable collateralization for transactions. By locking $AMP tokens in smart contracts, users can secure their transactions and mitigate counterparty risk, ensuring a trustworthy and efficient value transfer process.
  • Instantaneous Transactions: $AMP allows for instant transactions on decentralized platforms by acting as collateral. This eliminates the need for traditional escrow services or lengthy settlement times, enabling quick and seamless value transfer across different blockchain networks.
  • Decentralized Approach: The use of $AMP crypto promotes decentralization within the Amp network ecosystem.
  • Flexible and Secure Collateralization: $AMP offers a flexible approach to collateralization, allowing users to use their tokens to secure various types of transactions.
  • Staking Rewards: Holders of $AMP tokens have the opportunity to stake their tokens and participate in the network's consensus mechanism. By doing so, they contribute to the security and decentralization of the Amp network.

How does AMP loan work?IconPlus

AMP lending is a service that issues loans with $AMP cryptocurrency collateral for a yearly interest. The interest can vary from 10% up to 18% and more. There is no credit history and no credit checks — the only way you prove your credibility is the collateral you’re ready to provide. It will be temporarily stored in a lending service making sure you will repay your Amp loan.

How quickly can I get a crypto loan? How quickly will you refund me the collateral?IconPlus

Usually, getting an instant AMP loan takes no longer than 10 minutes. Since there are no credit checks, it’s that fast. The longest part of getting a loan is waiting for the confirmation of your AMP transaction. The collateral will be refunded instantly whenever you come back to repay your loan. You can do it when you want: in a month, in a year, or in many years — our loan period is limitless. Enjoy your money as long as you need.

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