How to Buy icon (ICX)

Several factors could positively influence the price prediction for ICX. One of the main factors is the growth and expansion of the ICON ecosystem. The more dApps and partner blockchains integrated into the ICON ecosystem, the greater the demand for ICX tokens for staking and governance purposes.

Another factor is the further development and improvement of the BTP protocol. With the advancement of ICON's interoperability and user-friendliness, more users and developers can be drawn into the ecosystem, leading to increased demand for ICX.

Additionally, the increasing adoption and usage of DeFi and NFT platforms within the ICON ecosystem could raise the demand for ICX. Since ICX is used for transactions, staking, and governance within these platforms, an increase in the usage of these platforms could lead to a rise in ICX demand.

Finally, general market trends and the increasing acceptance of cryptocurrencies worldwide could lead to increased demand for ICX and other cryptocurrencies. As such, the broader acceptance and regulation of cryptocurrencies could positively influence the price prediction for ICX.

$ICX is the native token of the ICON blockchain network and has the following functions:

Native Currency to Pay Transaction Fees

ICX serves as the currency for all applications built on the ICON blockchain. It can be used for sending and receiving payments on the blockchain and covers transaction fees within the ICON ecosystem. Additionally, ICX is utilized in various decentralized finance (DeFi) protocols and enterprise products operating on the ICON network, such as Balanced, OMM, Optimus, Zzeung, and broof.

Powers ICON’s Decentralized Identity Solutions

ICX plays a crucial role in ICON's decentralized identity solutions. ICONLOOP, a blockchain technology company associated with ICON, has developed enterprise-focused applications utilizing ICON's public blockchain technology and ICX token. One of the flagship products is Zzeung, an identity authentication and management solution. Zzeung enables users to securely store authentication information on their mobile devices, facilitating non-face-to-face biometric verification and improving efficiency in various sectors like finance, healthcare, and more.

Governance Token for ICON Network

ICX holders can stake and delegate their tokens to validators as part of ICON's on-chain governance model. By staking ICX, users can participate in the governance of the ICON blockchain and receive rewards in the form of additional ICX tokens. The staked ICX tokens contribute to the consensus and security of the network.

Trade or HODL ICX Token

Trade ICON crypto on KuCoin Spot Market against other cryptos to make the most of changing market conditions and volatility. Buy or sell ICX or hold it long-term if you believe in the future potential of the ICON blockchain. Be sure to DYOR before making any trading decisions in the crypto market.

The economics of the ICON network is based on two main components: the ICX currency and the Delegates or P-Reps. The ICX currency is designed as the base currency of the ICON network and serves as a means for transactions, staking, and governance.

The P-Reps are crucial actors in the ICON network, responsible for important actions determining whether the entire network is useful. For this reason, delegates are rewarded for good, efficient behavior and penalized for bad, inefficient behavior.

ICX staking has two different meanings in this context. In the first context, staking refers to a community member staking to a delegate. In the second context, staking refers to a delegate staking to validate a new block.

The staking rewards are diverse and based on the current economic values of the ICON community. These include block producer rewards, delegation/voter rewards, contribution proposal system/ecosystem expansion rewards, and cross-chain message relay rewards.

Staking ICX is a two-step process that involves staking to a delegate and staking for block validation. For a community member, staking refers to supporting a delegate or delegate candidate by allocating a certain amount of locked ICX for that candidate.

Staking for block validation refers to locking up ICX while validating the following block to be added to the blockchain. Staking on ICON secures the network while rewarding active stakeholder participation.

Staking ICX is relatively simple and requires only some basic steps:

1. Buy ICX crypto on KuCoin or other supported platforms.

2. Store ICX in a suitable wallet.

3. Select the desired amount of ICX for staking.

4. Choose one or more P-Reps to delegate your ICX to.

5. Confirm the staking transaction.

Please note that staking ICX has a lock-up period of about 8-20 days, during which you cannot withdraw your staked ICX. Additionally, there is no set minimum amount for staking ICX.