ICP is the first blockchain to offer unlimited capacity that works at web speed.

In this guide, we answer the question is ICP crypto a good investment? We’ll also cover the cryptocurrency’s performance and uses, as well as how investible it is and where you might complete your purchase.

Is ICP Crypto a Good Investment? Our Summary

ICP logoWhen looking to buy cryptocurrency in 2022 it’s important to research the market and your preferred coin’s price performance. This crypto asset is still in its infancy in the digital currency market but made a solid debut.

So that begs the question – is ICP Crypto a smart investment?

Well, Chain Key cryptography, a rapid and scalable consensus technique, lies at the heart of the ICP Crypto network. In reality, the blockchain can execute 11,500 transactions per second, with a one or two-second finalization time.

To offer a comparison, Ethereum is only able to handle roughly 15 transactions per second and each transfer can take up to six minutes to complete – should the network suffer from overload.

Furthermore, data storage on the ICP platform is only around $5 per gigabyte annually, which is a fraction of the $350 million you’d spend on Ethereum.

It remains to be seen whether the ICP Crypto token can ever reach its highs of 2021, which we talk about shortly. However, if you are looking for a speedy and low-cost digital currency, you might opt to invest in ICP Crypto nonetheless.

Cryptoassets are a highly volatile unregulated investment product.

How ICP Crypto Has Performed Since Launch & in 2022

The first thing you’ll be looking for before you invest in cryptocurrency is how the respective token has performed. With this in mind, let’s talk about the Internet Computer crypto investment thesis in more detail.

ICP was launched in May 2021 by Dfinity. As such, this cryptocurrency project is still in its infancy. We mentioned that the ICP Crypto project made a strong debut. ICP’s price achieved a high of over $750 when it was released in May 2021, after five years of development.

However, in June of the same year, its price plummeted by 95% to $34, and in July 2021, it dropped even more to just $28.

The Dfinity Foundation, which designed the Internet Computer blockchain, stated at the time that the dip was likely due to the token’s launch during a crypto-wide bull run.

By the start of 2022, the ICP Crypto was trading at a price of around $25, before reaching its highest value of the year on the 10th of January – when each token was changing hands at $36. Since then, the ICP Crypto has remained under $25.

We dive into more ICP Crypto price data next.

ICP Crypto Price

Before you go ahead with an ICP Crypto investment, let’s take a closer look at the price of its token. After the aforementioned decrease in value in mid-2021, ICP’s pricing point remained fairly stable throughout the remainder of the year, prompting many traders to consider this one of the most undervalued cryptos of 2022.

ICP Crypto price

ICP Crypto reached a high of almost $85 in August 2021 but has since fluctuated in a volatile range of $20 to $83. At the time of writing, the 24 hours high and low of this token is $18.50/$20.68 and if you invest in ICP Crypto, you will pay around $19.40.

Of course, due to the generally volatile nature of cryptocurrencies, this will change. With that said, it should give you a clearer indication of where the crypto is at in comparison to its debut.

Cryptoassets are a highly volatile unregulated investment product.

ICP Crypto Highs and Lows

By now you will have a clearer understanding of what ICP Crypto does, and its price history.

Let’s have a look at a condensed version of the coin’s significant highs and lows since its introduction to the digital currency market:

  • Debut Price in May 2021 – $274
  • May 2021 – All-time high of $750, this shows an increase of over 173% in a matter of days
  • June 2021 – ICP Crypto falls to a low of $34, illustrating a drop of about 95% since its all-time high in May
  • July 2021 – The cryptocurrency plummets further, to a low of $28
  • September 2021 – High of almost $85, displaying an increase of over 200% in less than two months
  • February 2022 – ICP Crypto falls to an all-time low of $14.50, which is around 98% lower than its all-time high

As we touched on, ICP Crypto has traded at a value of less than $25 since the aforementioned drop in February 2022. With that said, this is a cryptocurrency, so anything could change in the coming seconds, minutes, or hours.

ICP Crypto Price Prediction

Given its fall from grace since the aforementioned all-time high of $750 you might be wondering ‘is ICP Crypto a smart investment?’

Well, although even the best altcoins experience volatility, in terms of price projection, analysts are on the fence.

  • Some believe ICP Crypto is a risky long-term investment
  • On the other hand, there are market commentators who have a considerably more upbeat outlook on ICP Crypto investments
  • Some predictions foresee the price rising as high as $32.7 in 2023
  • With that said, it’s hard to anticipate when demand will wane and prices will decrease in today’s speculative environment

As such, whether ICP will grow in value to earlier highs remains to be seen. According to some analysts, those looking for a return of more than $100 may have to wait until 2024.

Many buyers are seeking to benefit from price increases rather than having a firm trust in the blockchain technology’s long-term use. Regardless, we offer more information next to help you decide whether to invest in ICP Crypto.

ICP Crypto Utility – Is It Investable?

We talked about speed and low fees, but let’s take a look at whether ICP Crypto is investable in more detail.

The Dfinity Foundation, the non-profit organization behind ICP Crypto, has outlined a 20-year plan that has the potential to culminate in an open internet that is larger than today’s closed ecosystems run by huge tech firms.

  • On blockchains like Ethereum, the system requires users to first download a wallet and purchase crypto tokens prior to using the platform’s services.
  • ICP Crypto uses a reverse gas model, which means users don’t require specific tokens or wallets to access blockchain services or apps.

Furthermore, the infrastructure is free because developers pay for computer resources used by their products with the ICP token itself.

The ICP platform functions similarly to typical cloud services, in which businesses pay for infrastructure and charge customers for services and software.

ICP coin platform

Many market commentators think DeFi will be much larger than traditional finance in the coming years. ICP could be well-positioned to power a considerable percentage of the world’s information infrastructure, software systems, and services.

There is no supply restriction on the total quantity of ICP tokens, unlike certain other cryptocurrencies such as Bitcoin. However, if ICP succeeds in displacing huge IT companies, it might have a chance at controlling a large portion of IT spending.

This is because businesses might be in a position where they need to buy ICP tokens to power their software and services. And as a result of the increased demand, its price would rise.

As such, whether or not ICP Crypto makes a good investment for you personally will depend on your appetite for risk and how confident you are in its future success.

Where to Buy ICP Crypto

As we’ve answered the question of the day ‘is ICP Crypto a good investment?’, we are now going to review one of the best crypto exchanges offering access to this token at a low cost.

In this review, we cover everything from fees and features, to deposit methods, and more. This should help you to complete your Internet Computer investment in safety and in a cost-economical way.

Crypto.com – Great Crypto Exchange to Buy ICP Crypto and Earn Interest

crypto.com logoCrypto.com is a top trading platform that offers access to over 250 cryptocurrencies. This of course includes ICP Crypto. This platform enables you to invest in ICP Crypto in a safe environment because it’s regulated, which means it abides by all applicable financial, anti-money laundering, and risk-management requirements.

This cryptocurrency exchange has a low commission policy. As such, you will only pay up to 0.4% on every cryptocurrency transaction. If you intend on trading ICP Crypto in large volumes, you may be eligible for a reduction on this fee. Check out the Crypto.com platform for further details on fees and eligibility.

crypto.com review

Crypto.com is a multifaceted platform with an NFT marketplace, a crypto wallet, a Crypto.com credit card, and a decentralized exchange.

Crypto Staking is also permitted here and you can buy and store cryptocurrencies while earning up to 14.5% interest per year. This rate is up to 10% per annum when it comes to stablecoins.

At Crypto.com, the minimum deposit is just $20. If you want to complete your ICP Crypto investment using your credit card, do note that Crypto.com will deduct 2.99% of the amount you deposit. If you opt for ACH when funding your account, this will be fee-free. This platform processes ACH deposits immediately.

Cryptoassets are a highly volatile unregulated investment product.

Should I Buy ICP Coin?

After reading the majority of this guide, you might still be asking yourself ‘is ICP Crypto a good investment?’.

It’s impossible to answer this question with a definitive answer.

However, you will see below a summary of the fundamentals of this crypto project so you can make up your own mind.

  • The ICP Crypto team’s major goal is to decentralize smart contracts and make them infinitely scalable
  • Moreover, developers are able to build internet services like messenger apps and websites using ICP’s technology
  • In essence, it aims to outperform big technology as a middleman
  • ICP software does not have a permanent physical location
  • Instead of operating on a dedicated server such as Google Cloud, it moves between servers controlled by independent data centers all over the world
  • ICP has also leveraged new cryptography in order to integrate with the Bitcoin network
  • Essentially, Chain key cryptography enables ICP to sign transactions for blockchains such as Bitcoin and Ethereum

ICP’s future looks bright and with benefits such as being able to run at web speed and low fees the token doesn’t lack real-world uses. It is, however, important you do your homework before risking any funds.

Conclusion

In this guide, we’ve answered the question ‘is ICP Crypto a good investment?’. As we’ve explained, ICP Crypto has struggled to get anywhere near the all-time high it reached when it was first launched into the digital currency market.

If you are still undecided on whether or not to take the risk and add ICP Crypto to your portfolio, consider a promising alternative.

Lucky Block is not only one of the fastest-growing cryptocurrencies of all time, but it is a highly useful project set to change the way the world plays the lottery.

Lucky Block is of the best crypto assets under $1 and it has reached a market capitalization of over $1 billion in a little over two months of trading in the cryptocurrency space.

lucky-block-logo

Cryptoassets are a highly volatile unregulated investment product.

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