How to buy Icon (ICX) in 3 Simple Steps – A Beginner’s Guide

What is Icon (ICX) Cryptocurrency?

“ Hyperconnect the World ”

The ICON project is building one of the largest decentralized networks in the world.
Icon Team

Icon was developed by a South Korean company called theloop born out of a research and development team that was founded back in 2015.

The Icon project aims to connect all of countries activities through its own blockchain. The project’s vision for each country is to connect all its most important organizations; for example, connecting hospitals, universities, government departments & financial institutions, the hope is that by doing this they will be able to cut out third party network fees. The project has global ambitions and that is evident throughout the technology they are offering. Building a decentralized network where communities with different governance structures can connect and interact is truly revolutionary and has the potential to disrupt archaic governance practices for the good.

The business possibilities and interconnectivity which the team are advocating bring a fresh and exciting crypto based blockchain network solution to the table with the potential to solve real world problems. It’s hard not to get caught up in the project, it’s ambitious, scalable and makes the ICX project one to keep an eye on this year.

Why should I buy Icon (ICX) cryptocurrency?

Hundreds of blockchain based projects are popping up around the world but Icon truly has the edge over them for several reasons:

The Team

The well-rounded project team consists of 8 advisors with solid credentials placing them in a strong position to drive and advise the strategy. There’s another 31 people on the team working in AI, blockchain, security and marketing. The team boast flawless credentials in the crypto space and have the backing of seasoned investors. This is certainly one of the most impressive teams in the crypto space. You can find out more about the full team here.

The Project

This project in South Korea is going from strength to strength, the support in Asia has been unprecedented and the coin has resisted market pressure with ease. Traditionally blockchains work within themselves, Icon is the first project that will provide the link for blockchains to communicate on an unparalleled level.

Infancy

We’re seeing a project that is in it’s infancy, the token sale was held in October 2017 and we’ve seen a phenomenal start to the project so far. There’s massive upside to getting in and supporting this project now with bigger things predicted on the horizon.

Icon (ICX) Business Partnerships

Icon was the first Korean ICO to be backed by the Korean government. Theloop project already has partnerships with large financial institutions and currently leads the larges blockchain consortium in Korea. The team also have partnerships with CoinOne (Koreas 2nd largest crypto exchange & Samsung and Kyobo insurance. More partners can be found here.

Icon (ICX) Price

Below is the lifetime price chart of Icon (ICX) taken from coinmarketcap. As we can see below the Icon project although in its infancy is showing great momentum in the market.

Where to Buy Ethereum

Before you can buy alt coins like ICX you should first acquire some Ethereum. Here are a few places that you can purchase Ethereum:

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Step 1: Visit the Binance website

Step 2: Complete the signup process

Step 3: Enable 2-Factor Authentication & SMS Authentication to keep your account safe

Step 4: Deposit Ethereum onto the exchange

You’ll need to deposit Ethereum to be able to buy other cryptocurrencies. Click on ‘balances’.

Search for Ethereum and click deposit

You’ll then have your Ethereum wallet address, copy that and head over to coinbase or whichever exchange you initially bought Ethereum from and send to this address.

Step 5: How to buy (ICX)

Head to the Exchange tab at the top of the site

Search for Icon (ICX) on the right-hand side. If you select ‘Market’, Binance will buy at the best price possible. But if you wanted to do a ‘Limit’ order, you can set the amount you want to buy at. For transactions that are still open, they are listed under the ‘Open Orders.

It’s as easy as that, transfer your Ethereum to Binance and buy into as many alt coins as you wish.

How to store ICON (ICX) cryptocurrency

Icon (ICX) is a ERC20-token currently. Myetherwallet would be the preferred choice of wallet to store these tokens. With crypto currencies it is highly advisable to store your tokens outside of the exchanges and to keep hold of your own private keys. Exchanges are prone to hacking and to safeguard your money wisely the following would be the preferred place to store the currency:

Hardware wallets made by Ledger and Trezor support the storage and sending of Icon (ICX). Always buy from the official product website or Amazon, don’t buy these second hand as they may have been hacked.

MyEtherWallet can store any coin on the Ethereum blockchain, including Icon.

The Future of Icon (ICX)

The use of blockchain technology which eliminates the middleman and serves for the greater good of society making this project really stand out in the crypto space. South Korea is the 11th strongest economy in the world and hold a strong interest in the crypto ecosystem with daily trading accounting for 20%-40% of the total global volume. Some have dubbed Icon (ICX) as “The Ethereum of Korean” which paints the project as highly desirable.

The Icon team have strong partnerships in place and are setting up further institutional investment opportunities as you read this article. The team is very solid, very dedicated and very ambitious which is an exciting blend. The project has not gone unnoticed and will continue to gain traction through 2018. The only way is up for this talented team and this truly revolutionary project!

Related Links & Further Reading

Website: https://icon.foundation/en/
Whitepaper: http://docs.icon.foundation/ICON-Whitepaper-EN-Draft.pdf
ICON blog: https://medium.com/@helloiconworld
Github: https://github.com/theloopkr/loopchain
Forbes: Could This Blockchain In Korea Be The First To Connect An Entire Country?

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