Klever Wallet continues to make improvements for its community. ICP tokens from the Internet Computer blockchain can be swapped with ease using Klever Wallet.
Available ICP Swap pairs:
- ICP/USDT (TRC20)
- ICP/USDT (ERC20)
What is Dfinity Internet Computer?
Internet Computer by Dfinity is a general-purpose blockchain developed with the fastest and most scalable system available in the world right now.
Made by a team of more than 200 world-renowned researchers and engineers, Internet Computer promotes what they call a “cutting-edge technology”, known today as the third major innovation in the blockchain – alongside Bitcoin and Ethereum.
It can provide powerful frameworks for developers as they can build tokenized internet services, cross-industry platforms, decentralized financial systems, and even traditional enterprise applications and websites with it.
Another groundbreaking resource of the Internet Computer’s technology is their chain key cryptography.
Through this resource, their users will usually not need tokens to use a dapp and they don’t even need to download blockchain state to validate transactions.
Instead, the security authentication to dapps with IC is made using Internet Computer’s anonymous blockchain authentication framework called Internet Identity.
What is the Internet Computer token ICP?
ICP is the utility token for Internet Computer.
According to Internet Computer’s whitepaper, the ICP token has the following functions:
Staking in the NNS: ICP tokens may be staked in the NNS (“network nervous system”, IC’s Decentralized Autonomous Organization) to acquire voting rights so as to participate in the DAO that controls the IC network.
Conversion to Cycles: ICP is used to pay for the usage of the IC. More specifically, ICP tokens can be converted to cycles (i.e., burned), and these cycles are used to pay for creating canisters and for the resources that canisters use (storage, CPU, and bandwidth).
Payment to Node Providers: ICP tokens are used to pay the node providers—these are the entities that own and operate the computing nodes that host the replicas that make up the IC.
Why Swap to ICP?
As previously mentioned, you can use ICP as a utility token in the Internet Computer’s system.
When you purchase utility tokens such as ICP, you are helping build, develop and strengthen the project.
Also, you can participate as mentioned above, with Staking, Conversion to Cycles, and Payment to Node Providers.
Moreover, as more investors purchase the ICP token, the value of the project progresses and this can lead to more benefits in the future.
How to Swap ICP in the Klever Wallet?
To swap between ICP and another pair is really easy:
- Click on the Swap tab (resembling a dollar sign) from the bar at the bottom.
- From the tokens list, select ICP and the other token you want to swap or the opposite if you want to Swap from another coin to ICP.
- Enter the desired amount to swap (YOU PAY). Note, there is a Minimum value to swap. Once done, click on the Next button.
- Select the Account you want to receive the tokens on. You can select from your Accounts or Contacts by clicking on the Book icon. Alternatively, you can paste an address from the Clipboard or scan a QR code.
- Choose if you want to Pay Fee with KLV by enabling the related button. Paying fees with KLV gives you a 25% reduction on swap fees. Once done, click on the Convert Now button.
- After that, you will be redirected to a screen that confirms that your order is placed. You can click on the “Got it!” button and relax. You will receive your tokens after a while.
Know more about the ICP project by clicking here.