Is Internet Computer A Good Investment And Should I Invest in ICP?
Internet Computer Could Be The Next 100 Billion-Dollar Cryptocurrency!
Are you wondering if it is the right time to invest in Internet Computer? Or maybe you are unsure if Internet Computer is a safe asset worth your investment?
If you are a novice to the world of cryptocurrency investing, you could be extremely surprised as to why Internet Computer commands such a relatively higher trading price. You may be wondering if Internet Computer is a good investment.
To put it simply, yes, Internet Computer could be a good investment. Investing in Internet Computer could bring you enormous returns if the crypto boom stays the same heading into the future.
Investing Computer has increased substantially since the start of its trading on Monday, 10th May 2021. With the momentum the cryptocurrency started with which aided its run to an all-time high of $737.73 on its opening day; it is not showing signs of heading into extinction zones any time soon.
Analysts and experts at the various crypto news portals think the ICP coin can command huge price milestones in the future due to the possibilities of its protocol. A few have estimated that investing in Internet Computer is one of the greatest financial decisions any investor can make due to its long-term outlook in terms of growth.
With that said, the month of May where the coin is adapting to the bulls and bears of the cryptocurrency market could be the right time to invest in Internet Computer (ICP) since the coin is ushering out great performances.
One of the biggest reasons to invest in Internet Computer is its aim of decentralizing all aspects of the internet. Such an aim would hand over all aspects of the internet, from cloud storage, decentralized finance applications as well as the creation of social media platforms to users.
If the protocol is successful in providing all of the services across the internet, this could become one of the main drivers of the price of Internet Computer. This is one reason out of many as to why investing in Internet Computer could be profitable.
In this article, we are going to take an in-depth look into the online news surrounding Internet Computer which would help you decide if you should consider investing in Internet Computer.
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- What is Internet Computer?
- Is Internet Computer a Good Investment?
- Should I Invest in Internet Computer?
- Should I Invest in Internet Computer or Bitcoin?
- Should I Invest in Internet Computer or Ethereum?
- How Much Could Internet Computer Be Worth?
- Who Should Include Internet Computer In Their Portfolio?
- Is It Too Late to Invest in Internet Computer Coin?
- Is Investing in Internet Computer Risky?
- Does Internet Computer Have a Future?
- Conclusion: Is Internet Computer a Good Investment?
So, What is Internet Computer? A Simple Explanation
Created by Dominic Williams, a British Computer Scientist, Internet Computer is a protocol as well as a cryptocurrency.
Internet Computer is a blockchain protocol that allows developers, creators, and users of the internet to launch applications and other services that are resistant to censorship. More importantly, it is decentralized. This means that it is free from any form of control from centralized figures in the technology industry.
Launched in May 2021, it comprises a team of 188 members who were committed to the project in the past 5 years. Dfinity Foundation is the organization that ensures the development, marketing, and adoption of the protocol by several developers and users.
ICP is the ticker symbol of the cryptocurrency which serves a primary function of being used for network governance in the ecosystem of Internet Computer as well as a fuel for computation.
Its ticker symbol appeared on cryptocurrency exchanges on 10th May 2021. The ICP cryptocurrency has so far shown signs of bullishness as well as being sensitive to crypto news which culminates in bearishness.
Internet Computer can be used to create anything you can currently find on the internet. Social media applications, websites, databases and storage facilities, video games, and other website-related content you can think of.
All technological solutions found online can be created and accessed without the help of any tech gurus such as Mark Zuckerberg of Facebook, Jack Dorsey of Twitter, and the other moguls of the technology world.
Users would be emboldened with the necessary tools to be able to contribute to the development of the whole ecosystem of the internet.
Internet Computer Protocol differs from the usual cryptocurrency blockchains which are solely interested in taking control from intermediaries such as clearinghouses, traditional banks, and insurance companies.
The sole aim of ICP is to take control over everything in the digital world. This includes the storage of usernames and passwords which gives website creators adequate information about users. Vital information can be sold out to companies for their gains.
To put it simply, the Internet Computer would help us get our freedom back in terms of leaving no trace in the digital world.
Such innovation by Dominic Williams and his team of experts could see the Internet Computer become the next 100-billion dollar cryptocurrency.
Just as Bitcoin has the first-mover advantage in the creation of blockchain, Ethereum has the first-mover advantage in smart contracts, Dogecoin has a first-mover advantage in meme-inspired cryptocurrency, and Internet Computer (ICP) could have a first-mover advantage in infinite blockchains.
Internet Computer Investing: Getting Started
To start investing in Internet Computer, you need to find credible cryptocurrency exchanges or brokerages. With the cryptocurrency being new to the market, as an e-learning organization, we can suggest you trade and invest with popular exchanges. Some of the exchanges where you can trade or invest in Internet Computer are Binance, Coinbase Pro, Huobi Global, WBF Exchange, and OKEx among others.
To open up an account online, you have to Sign Up. Provide authentic details of your full name, email, and residential address as well as a phone number.
As a result of fraud and identity thefts, you would be subjected to a Verification phase as part of the registration process. Knowing Your Customer (KYC) is highly essential for confirming the identity of the account holder. You would be made to upload a government-issued identification card. Other essential documents may be requested to authenticate the person behind the mobile phone or personal computer.
As per the option of payment of your choice, you would be made to Deposit Funds. Kindly know that uploading money is important in helping you buy ICPs.
The last part is to navigate to the Internet Computer page and buy your coins. It would be processed and added to your account.
Is Internet Computer a Good Investment?
Internet Computer is the first cryptocurrency backed by a protocol, many crypto experts believe that Internet Computer is a good investment compared to other cryptos. Despite all the ups and downs in ICP’s history, analysts believe that Internet Computer’s price could grow further in the long-term.
This is the primary reason why several crypto analysts through fundamental and technical analysis estimate that the Internet Computer is a good investment.
Despite its sharp bullish runs as well as declines, experts think that Internet Computer is a great long term investment which could command a substantial price.
There are several factors but one of the factors which will influence investing in Internet Computer ICP is the introduction of social media applications in addition to decentralized finance applications.
With that said, investors have gotten used to decentralized exchanges, lending, yield aggregation, asset management tools, alternative savings applications, derivatives, margin trading asset tokenization, payment solutions & service providers, marketplaces, analytics, stablecoins, prediction markets, and KYC & Identity.
As a result, the mere mention of the ability of users to be able to contribute to the creation of applications on the internet particularly in the area of social media could drive its price.
To decentralize the internet under a keen perspective, users would be able to use such tokenized mass-market social media services without the need to input usernames, passwords, or email addresses that could be traced back to them.
So long as the applications have the same features or surpass already-existent ones in terms of quality, the end of centralized technology projects could be near. Through the Dfinity Foundation, CanCan, a direct competitor to TikTok, has already been created and run on the Internet Computer blockchain.
Dfinity pointed out that Internet Computer makes it relatively easier to create applications since CanCan was built with less than 1,000 lines of code. In contrast, Facebook took a whopping 62 million lines to build the social media application.
Projects already running on the platform include a secure video-conferencing application with authentication for participants called MAGNIFY. LinkedUp is a desktop-based social network for professional profiles similar to LinkedIn. Other applications created are under the category of luxury goods and decentralized payment apps.
More social media applications would result in more users. More users mean more activity on the cryptocurrency as fuel for computation. This would undoubtedly result in an improvement of the current valuation of the digital asset.
These are great reasons why you should consider Internet Computer as an investment vehicle.
Should I Invest in Internet Computer?
You may have been asking yourself, why should I consider investing in Internet Computer? Well, the Internet Computer is an innovative technology that could revolutionize the world of the web. The organization behind its development, Dfinity describes its protocol as CLOUD 3.0, a scalable decentralized network that has surpassed proof-of-work consensus (mining) in terms of efficiency.
You should consider investing in Internet Computer because it is accomplishing its milestones which would increase the number of users of the blockchain technology.
With the launch of the mainnet which resulted in the Mercury Milestone on 18th December 2020, Internet Computer’s Network Nervous System (NNS) is currently able to onboard millions of nodes and 1000s of independent data centers. Before that, Dfinity released Copper in 2019 which came with Motoko, a new computer language. This new programming language helped support the programming model of the Internet Computer which made it easy to build applications easily. Other milestones such as Bronze, Tungsten, and Sodium were accomplished in the lead-up to the Mercury milestone.
What this means is that the ecosystem of the Internet Computer is fully functional. The accomplishment of Tungsten officially paved the way for developers to begin building on the Internet Computer. Through the Tungsten Hackathon which took place in the space of two days, several developers wrote and deployed applications on the ICPs ecosystem.
One of the participants of the two-day program pointed out that “The dev workflow is highly productive. You could conceivably write and deploy an app in a single day”.
With applications being created daily, every part of the ecosystem of the internet would soon have an open version running on the Internet Computer. Once this happens, ICP can disrupt the near-monopolies which have been enjoyed by big technology corporations for decades.
Such competition would see Internet Computer compete for a larger share of the developer and user market. This would increase trade volume in the usage of cryptocurrency for activities on the protocol. This would have a positive reflection which would see the crypto trading asset trade in the price range of some of the forecasted milestones by bullish analysts and experts.
Should I Invest in Internet Computer or Bitcoin? Will Internet Computer Ever Overtake Bitcoin?
Currently, there are no price forecasts by any analyst or expert who sees the price of ICP overtake BTC in the future. You should bear in mind that the Internet Computer is a relatively new cryptocurrency that cannot be fully assessed as to whether it could command a higher price in the future.
At the time of writing, the ICP is less than one month old. It could trade for relatively higher prices in the future. Until then, traders and investors must be very cautious in their expectations of the cryptocurrency since all digital assets including ICP are highly unpredictable.
On the other hand, Bitcoin is the father of cryptocurrencies and has several offsprings which have a track record in trading such as ETH, DOGE, DASH, and LTC. All these cryptocurrencies are trading for fractions of the current price of BTC. Despite the digital gold plunging to the price range of $45,000 to $55,000 in April and the early days of May, major altcoins have done little to close the valuation gap.
Bitcoin Cash (BCH) came into such a saturated market because one side of the Bitcoin Community felt the cryptocurrency had to be maintained as a transactional currency. On the other hand, one of the first investors in BTC, Roger Ver, and other members of the Bitcoin community wanted to maintain BTC as a store of value.
Either side got what they wanted as BTC is used as a transactional currency in addition to Bitcoin Cash while also serving as the gold of all cryptocurrencies. This is the main reason why it is still seen as an ATTRACTIVE INVESTMENT. Long-term holders of BTC have confidence that the cryptocurrency would command a relatively higher price than its currently trading for.
Verdict on Price - It is not impossible but it would be extremely difficult for ICP to overtake BTC in the short and long term. ICP may surpass several price milestones such as $1,000, $1,500 or even $2,000 in the future. To trade in the range of $45,000 to $60,000 would take huge patronage of its protocol.
Thriving on the usage and popularity of the cryptocurrency, it may test BTCs current valuation in the future. At the moment, fundamental and technical analysts predict $1,000 as the first testing level the cryptocurrency needs to reach to be taken seriously.
Verdict on Investment - Due to the prices of the cryptocurrencies, BTC ($47,955.75) and ICP ($246.99), ICP is currently trading at a price that falls into the investment budget of several traders and investors.
Small liquidity would be able to move the cryptocurrency to new highs. In the case of Bitcoin, the only reason why it’s failing to test its all-time high of $64,863.10 on 14th April 2021 is a lack of huge institutional investments.
The $100s and $1000s of money being used on the asset do little to move the price further to a new price milestone of $70,000.
You can buy more ICPs and hold them due to the fundamentals of its technology. You can take advantage of the price swings of BTC due to its volatile nature and day trade to make short-term gains.
Kindly note that trading or investing in cryptocurrencies comes at a huge risk. Invest an amount of money you can afford to lose. Do not put all your eggs in one basket; spread your investments across several digital assets as well as mainstream assets like stocks.
Should I Invest in Internet Computer or Ethereum? Will Internet Computer Ever Overtake Ethereum?
When it comes to Internet Computer and Ethereum, there are two areas which you need to study. They are investing in Internet Computer and Ethereum due to the possibilities of its blockchain technology and investing in Internet Computer and Ethereum due to its potential prices.
BTC is only a priced asset since its prime motive is to serve as a transactional currency without intermediaries. Ethereum for the first time introduced smart contracts to the general public. Fortunately, it has given birth to decentralized finance (DeFi) and non-fungible tokens (NFTs).
These innovations have played an integral role in the usage of Ether (ETH) as a transactional currency and novel tokens which powers the Ethereum Network. This is the main reason why several analysts and experts have made bullish predictions about Ether.
Verdict on Price - Analyst Skerdian Meta at FX Leaders estimates ETH to trade for a coin at $5,500 to $6,000 by June and exchange hands for $10,000 and $15,000 by end of 2021. The highest amount ICP is forecasted to reach by PickACrypto.com is $1,750 by the end of 2021.
All other things being equal, if the predictions are reached by the end of the year, this means that for ETH, making a purchase of the cryptocurrency at the time of writing at $3,816.20 could see a return of 293.061%. An investment in ICP at $246.99 could see gains of 608.531%. This means that on mere prices, ICP could provide better returns due to its relatively smaller trading price.
Verdict on Blockchain Technology - Ethereum is a tried and tested blockchain. It has hundreds of applications such as Uniswap, Yearn Finance, Nexus Mutual, Compound, and Aave.
Ethereum controls the DeFi market with more than $80 billion as Total Value Locked.
Some of these decentralized applications on Ethereum have their DeFi coins which command millions in daily volumes with a huge user base. This certifies Ethereum as the best DeFi ecosystem of choice for numerous developers despite the high gas fees associated with the use of the platform.
On the other hand, Internet Computer Protocol is also the first-mover in terms of infinite blockchains or blockchains for web decentralization. Through its milestones, it has opened its ecosystem for developers to create more applications.
Applications Magnify, CanCan, and LinkedUp are relatively unpopular when compared to the crypto community names of DAPPS on Ethereum. Internet Computer need to show crypto enthusiasts the possibilities of its blockchain before it could be baptized fully into the decentralized world.
At the moment, Ethereum is still the king of the decentralized world. It may take a few months to years before the Internet Computer could be added to the rivals of Vitalik Buterin’s innovation that are collectively called Ethereum Killers.
How Much Could Internet Computer Be Worth?
For you to consider if investing in Internet Computer is worth your consideration, you must enlighten yourself as to what the cryptocurrency could trade for in the future.
Experts and analysts have provided useful answers to questions such as what will Internet Computer be worth in 2022, what will Internet Computer be worth in 2025 and what will Internet Computer be worth in 2030.
According to experts at Digital Coin Price, Internet Computer could exchange hands for $382.65 by the end of 2021. they further forecast ICP to trade for a coin at $520.62 to close out 2023. The site believes Internet Computer Coin would increase slightly to $630.91 due to the numerous applications which could be running on the ICPs platform at the end of 2024. Internet Computer could trade for $897.18 by the year’s end of 2026, $989.56 in 2027, and $1,082.25 by the end of 2028.
AK Crypto at Cryptocurrency Price Prediction believes Internet Computer (ICP) could have a trading price of $541.05.
What Will Internet Computer Be Worth in 2022?
Experts and analysts at PickACrypto.com believe the consistent performance from the developers at Dfinity Foundation in terms of producing innovative technological solutions will receive huge adoption rates by users. With this, they estimate Internet Computer (ICP) to trade for $3,500 to $7,500 between the years 2022 to 2025. It could be deduced that ICP could reach $3,500 by the end of 2022.
Analyst AK Crypto at Cryptocurrency Price Prediction forecasts a price of $811.58 for ICP by the end of June and $896.88 on 31st December 2022.
How Much Will Internet Computer Be Worth in 2025?
Expert AK Crypto at Cryptocurrency Price Prediction estimates Internet Computer (ICP) to trade for a coin at $2,485.93 by the end of July and command a price of $2,934.37 by the end of September 2025. ICP could end 2025 with a trading price of $3,460.80.
Digital Coin Price predicts Internet Computer to reach $740.51 by the end of the year.
What Will Internet Computer Be Worth in 2030?
Currency Price Prediction predicts a price of $7,433.40 in January, $8,164.56 by July, and 9,870.59 to end 2030.
Who Should Include Internet Computer In Their Portfolio?
Several individuals could benefit from trading or investing in Internet Computer.
Cryptocurrency Traders can include Internet Computer (ICP) on their portfolio. This is because the coin is the ninth-largest digital asset in the world. It is also accessible on popular cryptocurrency exchanges and brokerages.
Day Traders can make huge gains from Internet Computer due to the asset's volatile nature. With multiple percentage swings in its first week of trading, experienced traders can benefit from the short-term movements of the cryptocurrency.
Blockchain Enthusiasts can include ICP due to its first-mover advantage as infinite blockchain. With a relatively better understanding of how the Internet Computer Protocol works, enthusiasts can use resourceful information about the possibilities of the blockchain to help them decide on the cryptocurrency.
Is It Too Late to Invest in Internet Computer Coin?
Internet Computer launched on Saturday, 8th May 2021 and began trading on 10th May. The asset reached an all-time high of $737.73 on the day but declined within the week in response to Tesla delisting BTC from its options of payments. At $246, ICP is relatively cheaper when compared to other cryptocurrencies which are backed by the possibilities of its blockchain.
With several price forecasts leading to a minimum price of $1,000 in the future, the month of May could be the right time to decide on the cryptocurrency.
Is Investing in Internet Computer Risky?
All cryptocurrency investments are risky but come with huge rewards. Internet Computer aim to decentralize the internet. This means that every fiber of the internet would soon be running on the ecosystem of ICPs platform. This could bring in more users of decentralized finance applications and tokenized social media applications. With thousands of people being involved in the protocol, the usage of the coin as fuel for computation would see huge activity.
With the hype from feedback from users and developers, traders and investors could jump onto the bandwagon of ICP and take its price to new highs. With the innovation behind the technology, ICP may be risky, but it is an investment worth considering if you reach a conclusion based on your independent research.
With BTC leading a pack of more than 7,000 coins in such a saturated market, ICP could be a bad investment. To the surprise of novice investors but just a normal routine for experienced investors, Internet Computer followed Bitcoin in the bearish market leading up to the weekend of 14th to 16th May 2021. It plunged heavily in price and may have already seen some traders and investors make irrecoverable losses.
Caution, invest in an Internet Computer Coin with the amount of money you are willing to forget about.
This is due to the uncertainty of the crypto market in the future. In the early days of May, the new Securities and Exchange Commission Chair Gary Gensler hinted that he wouldn’t call a lot of digital assets on the markets cryptocurrencies but securities. With Ripple’s case still hanging in the balance, a serious crackdown could befall the cryptocurrency market due to the numerous pumps and dump schemes being run on the internet.
Does Internet Computer Have a Future?
YES, the Internet Computer has a future. 188 members form the core team behind the development of the protocol and cryptocurrency. They comprise computer engineers, cryptographers, and operational workers. Such an incredible team is always working daily to be able to make the network relatively faster so that all aspects of the digital world would be able to run on the Internet Computer.
Additionally, Dfinity Foundation has already put in place upgrades to the system to make it extremely secure. With an aim towards decentralization and an upper hand on censorship through its distribution of database storage systems around the world, the Internet Computer could be the technology of the future. Aside from this, you should take note of the demand and supply of coins.
With a total supply of 469 million, ICP could have a maximum supply if Dominic Williams and his team decided against adding more coins to what is currently available on the market. Once this sets in, ICP could become scarce and drive the price of the crypto asset substantially in the future.
With new DeFi and tokenized social media applications to hit the consumer market in the not-so-distant future, ICP does have a future where it finally decreases the power and authority in the hands of central tech gurus.
Conclusion: Is Internet Computer a Good Investment?
Yes, investing in Internet Computer is worth considering. For many, Internet Computer investment has proven to be a great decision.
As a trader or investor, you should note that as a result of the unpredictability of the crypto market, all investments come down to two factors. They are risk versus reward. When you contemplate deciding on a coin such as Internet Computer ICP, you must weigh the potential consequences of the risks associated with the investment against the rewards.
Internet Computer certainly has some risk factors. It currently has a lot of possibilities in terms of innovation but finds itself in a very competitive market. ICP commands a relatively higher price than most established cryptocurrencies. But it’s still a long shot from Binance Coin (BNB), Ether (ETH), and Bitcoin (BTC) in terms of price, market capitalization, trade volume, and acceptance in the crypto finance space globally.
On the other hand, the timing of the release of the cryptocurrency and its protocol would see the digital asset break into the mainstream in a relatively shorter time. It has the backing of Coinbase, Scalar Capital, and Polychain Capital. The completion of its milestones particularly Sodium in September 2020 saw the development teams have breakthroughs in decentralized finance (DeFi) and cryptography.
The technology’s founder Dominic Williams has marketed the protocol and cryptocurrency extensively. He appeared at the 2020 World Blockchain Conference, Shanghai Blockchain Week, and the Web Summit.
With a special fund (BEACON FUND) set aside to help young development teams launch and grow open internet services and decentralized finance systems of the future on ICPs ecosystem, only time will tell the extent the project could go and the price the cryptocurrency could trade for.
With an eye on the price forecast of AK Crypto at Cryptocurrency Price Prediction ($541.05 by end of 2021), perhaps you can buy a small stake of ICP. Who knows, you could become one of the few names which could be trending online as an early investor who made huge gains from Internet Computer (ICP).
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What Is Internet Computer Coin?
Internet Computer Coin is the novel token of the Internet Computer Protocol which powers the network. It is a cryptocurrency that serves as a fuel for computation. Additionally, it plays a huge role in the network governance of the ecosystem of ICP.
Internet Computer Coin Value
As of the time of writing, as per data retrieved from CoinMarketCap, ICP has a price of $246.99.
Where to Buy Internet Computer Coin?
As a relatively new cryptocurrency, Internet Computer Coin is not listed on many cryptocurrency exchanges. The crypto trading asset has found favour among some of the popular cryptocurrency exchanges and brokerages.
Internet Computer Symbol
Internet Computer has a ticker symbol ICP. This is the symbol it trades with on exchanges and brokerages.
How Many Internet Computer Coins Are In Supply?
As of Sunday, 16th May 2021, the circulating supply of ICP stands at 123,949,677.80 from a total supply of 469,213,678. The maximum supply which would give ICP a finite supply status is currently unknown.