All about ICP Crypto: Step-by-Step Guide to Get You Started

While this is not an extensive guide, it covers many aspects that new users will need to know about when starting their journey on true web3, the Internet Computer.

All about ICP Crypto: Step-by-Step Guide to Get You Started

Now that you have decided to invest in and/or research the Internet computer protocol and ICP, there is a vast amount of information to uncover that will make your head spin. Fortunately for our readers, we have written a great number of guides that cover everything related to ICP.

Here, we decided to create a general guide for those interested in entering the exciting world of blockchain and cryptocurrency in 2023.

Let's get some basics out of the way first:


What is the Internet Computer Blockchain and ICP?

In short, the Internet Computer Protocol is a blockchain that serves decentralized applications (dApp) through web HTTP requests. hosted on dedicated hardware in independent datacenters. ICP is the currency that can be traded.

This is the ONLY blockchain that has its own independent data centers and has the capability to serve web traffic.

Some Internet Computer Protocol terminology that is essential to get started -

  • ICP -  Internet Computer blockchain's native governance token.
  • DFINITY - The non-profit foundation behind the Internet Computer blockchain.
  • Canisters - Advanced smart contracts on the Internet Computer.
  • Cycles - ICP needs to be converted to cycles for resource consumption a.k.a gas. This is a negligible fee amounting to almost nothing, and is therefore significantly cheaper than most other chains.
  • Motoko - Programing language for the Internet Computer although other languages such as rust can also be used.
  • Subnet - Physical hardware that hosts the network.

Let's see a collection of articles that we have accumulated since the inception of this blog that will help you get started and make some good decisions if you decide to get involved with the Internet Computer.

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Is ICP crypto a good Investment?

Everyone's investment goals and objectives are different so definitely do your own research to determine if ICP is a good investment for you. These articles from 2022 will help you to do that research

Is ICP a Good Investment? - 2022 update
DFINITY is comprised of some of the world’s leading cryptographers and has one of the largest R&D operations in Blockchain
What Might Happen If I Invest $100 in Internet Computer (ICP) Today?
Crypto, like in most markets of the world, has its ups and its downs. In recentmonths, though, the trend has been mostly down. While this may scare off some,smart investors may see great opportunities in the chaos. Investments made todaymay pay handsomely months or years down the
ICP Price Analysis: To the Moon?
In this article, we’ll look at what’s going on with ICP right now and why it’s poised for success.

How to stake ICP

Staking ICP can be done through the Network Nervous System (NNS) - A dApp running on the Internet Computer. The NNS is like the brain of the Internet Computer.

We have covered staking in detail. Read here:

How Do I Stake ICP In 3 Simple Steps?
One of the top reasons people invest in ICP is the ability to stake tokens on the Internet Computer and earn staking rewards via the Network Nervous System (NNS).
The Definitive Guide to Earning Rewards on the Internet Computer’s NNS
You’ve probably seen the hashtag #8YearGang used a lot when it comes to the Internet Computer. This is a self-assigned term for those who have created an 8-year neuron on the NNS and set it not to dissolve.


Where to Store ICP?

With the FTX disaster, we all know - Not your Keys, Not your crypto. Obviously, we believe the InfinitySwap wallet is the best one out there. Here you can read extensively why we believe the InfinitySwap wallet is the most fully featured and most secure one on the IC, and what separates us from the rest.

How to Plug into InfinitySwap: Migrating to the Infinity Wallet
Want to plug into InfinitySwap? Here’s how to migrate from other wallets like Plug to Infinity Wallet.
Why use the InfinitySwap Wallet?
The InfinitySwap wallet is widely used and compatible with many Internet Computer (IC) applications. It is unlikely that a member of the IC ecosystem has yet to come across the wallet before. But why use the InfinitySwap wallet?
Getting started with InfinitySwap Wallet: A Step-by-Step Guide
The InfinitySwap wallet is an innovative tool optimized for use across the entire Internet Computer ecosystem. It has a clean and elegant interface that was designed with user-friendliness in mind.
Infinity Wallet: A Cut Above the Rest?
It’s no secret that we’ve been promoting our own Infinity Wallet pretty hard as the launch of the InfinitySwap AMM approaches, but that’s not just to push our product over others. We’re trying to build something really special for the community.


All about NFTs on Internet Computer

NFTs are a major growth and investment sector of any blockchain. The two most unique and amazing features of NFTs on the Internet Computer are :

  • All the assets are fully 100 % on-chain.
  • Reverse-gas model so ZERO Fee for Listing, selling & buying.


Excited to invest in NFTs? These should help you get started -

How to Buy NFTs on the Internet Computer Blockchain
Do you want to buy NFTs on the Internet Computer blockchain? If so, we’re about to provide you with a comprehensive guide to using the IC for your NFT purchases.
Where to Buy NFTs on the Internet Computer Blockchain
What You Need to Buy NFTs on the Internet Computer

Something to read about the two most innovative NFT marketplaces -

Yumi and Toniq Labs Lead the Charge for NFT Innovation
Digital assets known as non-fungible tokens (NFTs) surged in popularity last year. Marketplaces on the Internet Computer are leading the charge for NFT innovation.

How does the Internet Computer Blockchain Work?

Before we do a deep dive into Internet Computer Tech ( a.k.a. Alien Tech), let's take a look at the native Internet Computer smart Contracts ( Upgraded with storage) - Canisters

Internet Computer Canisters: Everything You Need to Know
It’s common knowledge that canisters are an enhancement of smart contracts. What canisters or smart contracts are and how they work, however, is far from common knowledge.

‌And the Subnets - Each can be regarded as an independent blockchain, hence Limitless scalability. That's the reason Internet Computer will not run into the scalability issues of chains such as Solana & Ethereum.

Internet Computer Subnet Blockchains: Everything You Need to Know
What are subnet blockchains? How do they work on the Internet Computer?

‌Now that's out of the way, you can read more on the tech behind the Internet Computer Protocol -

How It Works | Internet Computer Home
Learn how the Internet Computer blockchain realizes the vision of the World Computer. Dive into its technology, open-source repositories, in-depth video academy sessions, white papers, publications, and detailed technology articles.


Defi on the Internet Computer

As we know, Decentralized Exchange (Defi) is Superior to centralized exchanges for a number of reasons.


The Internet Computer offers some unique advantages for Defi :

advanced Automated Market Maker ( AMM) will prove that. Here we take a detailed look at InfinitySwap - Future of Defi.

How InfinitySwap will Leverage Internet Computer Tech to Become the Next Iteration of DeFi
InfinitySwap is built on the Internet Computer and allows users to create, stake, and swap tokens.
How InfinitySwap will Leverage Internet Computer Tech to Become the Next Iteration of DeFi
InfinitySwap is built on the Internet Computer and allows users to create, stake, and swap tokens.


Token Standards

As we know, Ethereum uses the ERC-20 token standard. Read about the different token standards of the Internet Computer and our own recommended IS20 token standard.

InfinitySwap - The IS20 Token Standard: Decentralized and Interoperable
Token Standards have been a sticky subject for the Internet Computer community. Everyone agrees on their importance, but with so many possibilities for their design, it has been a struggle for the ecosystem to reach a consensus and deliver on one.
The Internet Computer Token Standards: A Comparison
As much as the InfinitySwap team supports the official token standard, we feel it’s crucial for you to understand your options. For example, is ICRC-1 really better than the likes of IS20, DIP20, and EXT?

Who to follow and what action points?

  • You can start with DFINITY Foundation , Chief scientist and founder Dominic and of course InfinitySwap (us) Twitter.
  • Always Listen to the Global R&D DFINITY Meeting for the latest feature & updates  here
  • Don't forget to subscribe to our famous Sunday newsletter - Infinity Weekly here
  • Download the most advanced InfinitySwap wallet
  • Join the Infinityswap  Discord and read about the DFINITY's discord here

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Time to experience the power of Social Fi on Web3

Try some of the most popular social dapps that enable you to control your own data unlike Meta, Twitter, Discord, WhatsApp or Reddit since they are 100 % on-chain.  These are therefore truly decentralized along with token and NFT support ( Web 3 building blocks)

  • Distrikt  - A decentralized Meta/LinkedIn
  • OpenChat - A decentralized WhatsApp
  • DSCVR  - A decentralized Reddit with big advantages
  • Catalyze - A Decentralized Discord that doesn't collect your data

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Famous tools of the Internet Computer allowing for complete decentralization

Everyone knows Etherscan, similarly, Internet Computer Protocol has a dashboard and other NFT-related tools for complete transparency.

We covered them in detail here:

Components and Tools on the Internet Computer
The Internet Computer (IC) is a new, decentralized blockchain that promises to change how we think about blockchain technology.

‌Lastly, one epic infographic to briefly describe the inflation and deflation mechanism of ICP tokenomics -


Check here for the current APR for staking and voting

Understanding Inflation and Deflation in ICP’s Tokenomics
Is ICP inflationary or deflationary? That depends, and it’s currently a topic of hot debate.


While this is not an extensive guide, it covers many aspects that new users will need to know about when starting their journey on true web3, the Internet Computer.

Connect with InfinitySwap

Twitter | Website | Telegram | Discord | Github

Twitter | Website | Telegram | Discord | Github


*Disclaimer: Note that cryptocurrencies can be volatile and speculation should not be construed as financial advice in any capacity. All opinions of the author are their own and do not necessarily reflect the opinions or position of InfinitySwap or its staff.