Ampleforth describes itself as smart commodity money.
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What Is Ampleforth (AMPL)?
Ampleforth is an Ethereum-based cryptocurrency with its own algorithmically adjusted circulating supply, designed to be the base money of the new decentralized economy. It is designed to support indivisible property supply deflation that cannot be diluted by supply inflation.
Ampleforth provides token holders with a portion of the entire AMPL circulating supply, rather than a specified number. When the price of the protocol’s tokens rises, the circulating supply increases, and when the price decreases, the circulating supply decreases.
The adjustment to the supply is known as a rebase and is carried out once per day, with a positive rebase when the price of AMPL goes above $1.06, and a negative rebase when it is below $0.96. The goal of this system is that the price of AMPL will be brought back to $1.
How Does Ampleforth Work?
Ampleforth operates differently from other digital-asset investments since it functions as a reserve asset for deploying decentralized finance (DeFi) applications and will eventually serve as a stable currency to complement banking systems that are resistant against market volatility.
Ampleforth achieves this by using a distinct new system, which sees the circulating supply expand and contract in response to consumer need, without diminishing any stakeholder. Ampleforth believes that this could work in the long run, comparable to how gold was used before, as a hedge currency to fiat currencies.
The History Of Ampleforth
Ampleforth was founded in 2016 by Evan Kuo, whose years of experience as a product manager and entrepreneur prepared him to optimize his venture’s operations. He holds a bachelor of science (BS) in mechatronics, robotics and automation engineering from the University of California, Berkeley.
Is Ampleforth A Good Investment?
Ampleforth has a well-designed tokenomics, active community and a solid team working behind the scenes. However due to the rebase, the goal to bring AMPL to a steady $1, there is not a lot of room to make a return on investment.
As you can see on the graph below, the highest that AMPL has ever reached is $3.37 back in July 2020:
There have been other peaks throughout the years, but ultimately it comes right back down. If you are a long term trader, you can probably find a good entry point and sell at the peak, based on past performance.
To stay up to date with the current AMPL price data, click here.
Should You Buy Ampleforth (AMPL)?
If you have done research on the team, vision, whitepaper and you are satisfied with what Ampleforth has accomplished so far, then potentially it could be a great investment for the long term. Perhaps invest small, and wait for market direction before buying more.
Cryptocurrencies can be risky, so invest wisely and be careful with your hard earned money. As a rule of thumb, never invest money you can’t afford to lose.
How Many Ampleforth (AMPL) Coins Are There in Circulation?
Unlike other cryptocurrencies, Ampleforth does not have a limited number or fixed minimum supply of tokens. Rather, the number of AMPL tokens will continue to grow if the price stays above $1, whereas it will continue to decrease if it is below $1.
How Can You Buy Ampleforth (AMPL)?
It’s actually quite easy to buy AMPL coins. All you need to do is follow these four basic steps:
- Create an account on a cryptocurrency exchange that lists AMPL. Below we share some of these exchanges.
- Complete the identity verification process. Some exchanges require a scan of an identity document such as a passport or driver’s license.
- Transfer money from your bank account to the crypto exchange. The exchange may accept other payment methods, but bank account transfers typically have the lowest fees.
- Once the money is available in your account with the exchange, select the “buy” option to purchase AMPL.
Where Can You Buy Ampleforth (AMPL)?
The best places to purchase Ampleforth (AMPL) are at: