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How to Buy FTX Token (FTT)

We review the best regulated cryptocurrency platforms to buy FTT, the native token of derivatives exchange FTX, including Binance. FTT is one of the altcoins that pulled a 10x gain in 2021.
FTT Logo
FTT Logo

FTX token is the native cryptocurrency of the FTX derivatives exchange, and it is based on the Ethereum blockchain, making it a ERC-20 token. The coin can be used to reduce trading fees on the exchange or serve as collateral against future positions. The token is available under the ticker FTT, which can also be staked to earn interest and get the chance to win NFTs.

The cryptocurrency was launched in 2019 on the FTX exchange, and in just three years, the coin has surged by over 1000% – many retail investors are looking to buy FTT.

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Contents [show]

    How to Buy FTT

    1. Choose a cryptocurrency exchange – we recommend Binance to buy FTT, using BTC
    2. Create an account
    3. Deposit funds into your account
    4. Enter ‘FTT’ in the search box
    5. Open a limit or market order to buy FTT with USDT, BUSD, BNB or BTC

    Best Places to Buy Bitcoin in November 2021

    In order to buy FTT at the three major cryptocurrency exchanges you’ll need to first buy Bitcoin. For that the easiest option is FCA, ASIC & CySEC regulated exchange eToro.

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    Best Brokers for Buying FTX Token in November 2021

    To acquire FTX token right now, simply follow these simple instructions.

    1. Open an account: To begin, you’ll need to register with a reputable bitcoin broker. eToro is a platform that we endorse.
    2. Upload ID: eToro, as a regulated brokerage, will require you to upload a copy of your government-issued identification.
    3. Deposit: You can now use a debit/credit card, Paypal, Neteller, Skrill, or a bank transfer to make a deposit.
    4. Buy Bitcoin: Search for ‘Bitcoin’ and click on the ‘Open Trade’ button. Enter the amount of Bitcoin you wish to buy ($50 minimum) and confirm the order.

    You will now have Bitcoin in your eToro portfolio, which you can transfer instantly to Binance and use to buy FTT.

    How to Buy FTT – Full Guide

    Below is a more detailed overview of how to purchase FTT online, using screenshots.

    Step 1: Open an Account

    The first step is to open the eToro website and then register for a trading account by clicking on the “Join Now” button at the center of the screen. 

    • Full name
    • Nationality
    • DOB
    • Address
    • Contact Details
    • Username and PasswordHow to Buy FTX (FTT) on eToro

    How to signup at eToro

    Step 2: Upload ID

    eToro will then require you to verify the provided identity with a copy of your driver’s license or passport to comply with government regulations. A copy of the utility bill or bank account statement will also be required to verify the provided address. The verification will then automatically happen once the documents are uploaded.

    Step 3: Make a Deposit

    The minimum requirement for opening an account with eToro is $200, which can be deposited through various methods, including:

    • Debit cards
    • Credit cards
    • Bank transfers
    • Skrill
    • PayPal
    • Neteller

    eToro doesn’t charge any deposit fees. This is less expensive than some of its key competitors, such as Coinbase, which charges 3.99 percent to buy Bitcoin with a debit card.

    How to Buy FTX (FTT) on eToro

    How to Buy Cryptos on eToro

    Furthermore, there is no transaction cost if you are a US resident depositing funds through a USD-backed payment method. The minimum deposit is $50 for residents of the United States and $200 for most other countries.

    eToro doesn’t offer direct FTT purchases yet – meaning that you will first need to deposit some funds to buy Bitcoin with, to then buy FTT on Binance.

    Step 4: Search for Bitcoin

    At this stage of our step-by-step guide, you should now have an eToro account that is funded. Now it’s time to buy FTT.  Since eToro doesn’t have FTT at this stage, you can now buy Bitcoin simply by typing the amount you want to invest in the ‘Amount’ box ($25 minimum). Then via Bitcoin, you can buy FTT on Binance.

    Hopefully, FTX token (FTT) will be listed on eToro in the near future.

    How to Buy FTX (FTT) on eToro

    Finally, click on the ‘Open Trade’ button to complete your investment.

    1. eToro – Best Broker to Buy Bitcoin

    eToro is situated in the United Kingdom and was founded in 2007. Since then, it has grown its company across the UK, and now has over 13 million active traders.  eToro is licensed by the FCA, ASIC, and CySEC and is partnered with the FSCS. This platform provides a traditional way of buying shares and offers CFDs that provide leveraged trading with low margin requirements.

    It means that by utilizing eToro, investors can avoid not only commission-free trading but also monthly/annual fees. The broker offers trading on 17 different stock exchanges, including NASDAQ, with over 1700 securities. Furthermore, eToro accepts roughly 30 different cryptocurrencies for a very modest charge. It offers a simple social trading platform that allows traders to communicate with one another.

    Unlike traditional brokers, eToro does not charge a high commission, and there are no account management fees, rollover fees, or ticket fees. However, the only fee charged by eToro is a minimum buy and sell spread fee. The best feature provided by eToro is its social trading platform and tools, which are very useful for beginner investors. The interactive platform enables traders to copy the trade positions of experienced traders, giving rewards to professional traders.

    When will eToro list FTX token (FTT)?

    eToro does not support FTT at this time. eToro, on the other hand, does allow you to easily purchase Bitcoin. Then you may buy FTT on Binance using BTC.

    FTT is expected to be listed on eToro soon.

    eToro exchangeInitial Deposit

    The minimum investment of $50 means that investors can enjoy the leverage trading facility. In simple words, investors have a chance to own a fraction of a share if they want, and they can also buy shares worth more than the amount deposited through CFD.

    Copy trading is also a feature provided by eToro to its customers, which can help beginner traders mirror an experienced investor’s portfolio.

    Various Payment Options

    Traders can use various payment methods through credit/debit cards, bank transfers, or e-wallets like PayPal, Skrill, VISA, or Neteller. Another exciting service offered by eToro is that investors can also buy and sell a fraction of stocks. For all newbies, it means traders can buy a fraction of stocks and have no need to buy a single share of a company with their share trading account eToro.

    Regulation

    eToro is regulated in the United Kingdom (UK) and worldwide, holding licenses from the ASIC, FCA, and CySEC. In addition to this, eToro is a member of the Financial Services Compensation Scheme (FSCS) that protects the first £85,000 of investors’ funds in case of the broker’s bankruptcy. 

    Buying and selling on eToro can be done online as well as on mobile devices through their application. The opening process of an eToro account is straightforward and takes about a couple of minutes. The payment can be deposited in various ways, including debit/credit cards, e-wallet, bank transfer, and Paypal.

    Pros & Cons of the eToro platform:

    • Copy and social trading are available on eToro.
    • Regulated by ASIC, FCA, and CySEC.
    • Offers to buy CFDs in addition to stocks.
    • Trading of stocks with no commissions.
    • User-friendly graphical user interface (graphical user interface) stockbroker.
    • App for mobile trading that is well-known.
    • Skrill, VISA, Neteller, and PayPal are all accepted by eToro.
    • Pro-traders may find it difficult to perform advanced technical analysis.

    Visit eToro

    2 – Binance

    Binance is without a doubt the greatest eToro alternative. Binance is the world’s largest cryptocurrency exchange by daily transaction volume, with over $20 billion in deals per day. It gives you access to hundreds of assets and a smooth trading service that makes it simple to make money.Binance Logo

    The advantages of Binance are pretty astounding. The trading commission is 0.075%, which is extremely low. Expert traders can use sophisticated tools, including futures and margin trading, and the exchange offers a variety of deposit and withdrawal methods. When you combine this with Binance’s high liquidity, it’s easy to see why it’s so popular.

    Binance, on the other hand, is a cryptocurrency-only platform. The exchange also has significant credit card transaction fees, and its main portal isn’t very user-friendly. Furthermore, the Binance interface is not particularly user-friendly for newcomers. For first-time FTT buyers, the charts and menu selections may be confusing.
    The FTX ecosystem’s utility token is called FTX Token. To facilitate the trading of bitcoin futures, Alameda Research created the FTX platform, which is a cryptocurrency derivatives exchange. The FTX ecosystem utilizes FTX in several ways. With regards to benefits, token holders can take advantage of reduced FTX trading costs as well as a variety of OTC discounts. Investors can use Binance to buy the FTX token via Fiat currency or any other cryptocurrency.
    Binance listed FTX’s Token (FTT) and opened trading for FTT/BNB, FTT/BTC, and FTT/USDT trading pairs on December 20, 2019. Deposits for FTT are live.

    Pros & Cons of the Binance platform:

    • Excellent liquidity.
    • Security features that are second to none.
    • Professional merchants have access to high-end merchandise.
    • Not suitable for beginners..

    Visit Binance

    3 – Capital.com – Trade FTT Commission-Free

    Capital.com is a global CFD brokerage with offices in the UK, Cyprus, and Belarus. It is home to over 2 million traders and has handled over $18 billion in transactions. Capital.com offers a UK-based trading platform for investors who want more flexibility in their investments.

    It is a CFD specialist platform that offers leveraged trading as well as short-selling. FTT can be traded through Capital.com by putting up 50% of the margin.

    Capital.com LogoIn simple words, a trade of $100 can be made through an account with a balance of only $50. Capital.com platform not only offers to buy the FTT, but investors can also try to short-sell if they think its price will decline in the future or consider that FTT is overvalued.

    It offers over 3,000 of the most liquid assets split across five sectors, making it appealing to a wide range of traders.

    Initial Deposit

    To start an account with Capital.com, you must make a minimum deposit of $20. RBS and Raiffeisen keep client funds completely separate; accounting monstrosity Deloitte audits the finances of two of Europe’s top financial institutions. This broker also serves to institutional clients through its Prime Capital division, implying a significant liquidity pool. Only a proprietary trading platform is available on Capital.com.

    Another intriguing feature of Capital.com is that, in comparison to other brokers, it provides services at a low cost. Capital.com offers commission-free trading as well as low spread fees. CFD stock trading is only recommended for experienced investors, but Capital.com provides training materials, including a trade learning mobile app, to assist newcomers. It accepts payments using debit/credit cards, bank transfers, and e-wallets, just as other brokers. It also provides risk-free trade learning through demo-account trading. It is also governed by the FCA.

    Pros & Cons of the Capital.com platform:

    • Hundreds of UK and US-listed shares are available for trading.
    • App for learning how to trade.
    • The use of artificial intelligence (AI) to uncover trading flaws.
    • Provides daily trading suggestions.
    • Advanced trading using charts and an interface for analysis.
    • There are no commissions to pay.
    • Custom trading strategies are not supported.

    Visit Capital

    What is FTX Token (FTT)?

    The FTX exchange is a powerful trading platform for spot, over-the-counter, futures, and prediction markets. In its initial years, the exchange has made its name on the list of the largest crypto instant exchanges in the world. The unique and different chats tasked with correcting the flaws give it leverage against many trading platforms. FTX provides a backstop liquidity system that allows large traders to buy cash transactions before impacting the whole market.

    The price of FTT has climbed from $5.6 to a high of $84.7 in September. With the start of 2021, FTT started gaining attraction and continued its bullish momentum til March.

    Since June 2021, the price of the FTT token has been rising continuously and currently stands at $55. The recent September boom in the FTT coin was driven by the latest acquisition of a United States-based crypto derivative platform, LedgerX, by the FTX exchange. The FTX exchange is a powerful trading platform for spot, over-the-counter, futures, and prediction markets. In its initial years, the exchange has made its name on the list of the largest crypto instant exchanges in the world.

    FTX Founded by Sam Bankmen & Gary Wang

    Sam Bankmen and Gary Wang founded FTX. Sam Bankmen is an MIT graduate who used to work at Jane Street Capital and Gary Wang is a former Google software engineer. FTX has a market capitalization of $6.46 billion, and the coin FTT is not available on any significant US cryptocurrency exchanges.

    FTX does not use traditional margin trading but instead uses leveraged tokens, which let the customers take a leveraged position without dealing with the complexities of full margin trading. Moreover, the restrictions on retail derivatives trading limit the selection of services offered by FTX in the United States.

    The FTT provides a solution to several problems many other derivatives exchanges face, including tedious trading processes, poor liquidity, and clawbacks. Clawback is a situation when money is taken from various investors to cover another person’s bankruptcy. Lastly, the FTT token has a total supply of 345 million FTT coins, of which approximately 95 million are in circulation.

    Is it Worth Buying FTT in 2021?

    While investing for the long term, choosing a coin with solid fundamentals is essential that can do well in the long run. Since investing in the cryptocurrency market can be incredibly volatile and risky.

    Let’s look at the performance of the FTX exchange. It seems like the future potential for growth for FTX is very promising because, unlike many other cryptocurrencies, the FTT token has a straightforward use case. Furthermore, the recent acquisition of LedgerX may expand FTX exchange’s product offering to its US clients, as well as help differentiate them from the more established crypto exchanges in the US Buying an FTT coin in the US can be tricky as there are a lot of restrictions on product offerings by FTX in the US. According to the FTX website, US residents are not permitted to transact in FTT. However, from a decentralized exchange, it might be possible to buy FTT.

    Several benefits to owning FTT

    On the other hand, for international FTX customers, there are several benefits to owning FTT, including reduced fees and the chance to earn interest on holdings. The biggest threat to a person buying an FTT token is the regulatory changes. The business of the FTX exchange could be hampered if the US regulators put strong controls on crypto derivatives. However, if FTX manages to work with the regulators as the company has said previously that it wants to, then the price of the FTT coin could grow even further.

    The FTT coin hit an all-time high (ATH) level in September 2021, when the FTX exchange acquired the US derivatives firm Ledger X. Apart from this, the FTX exchange has been engaged in many developments that have helped grow its prices higher in the market. FTX launched an FTX Climate Program in July to fund climate research and help FTX achieve its carbon-neutral goal. It collected about $900 million in fundraising that valued the company at $18 billion in the same month. In August, the famous entrepreneur and Shark Tank’s Mr. Wonderful, Kevin O’Leary, agreed to become a spokesperson for FTX in response to a rigorous approach by FTX to compliance.

    How to Buy FTX (FTT) on eToro

    FTT price chart

    Will the Price of FTT Go Up in 2021?

    Yes, it seems like the recent acquisition of Ledger X will help FTX bring crypto derivatives to its US customers, which will be a huge success for the company and will help FTT coin rise further in 2021. It is expected that by the end of the year, many FTX Token projects will have moved from the concept phase to the testing phase and that the price will be around $52.00, indicating that FTX Token has a solid value.

    Reddit Community – According to recent news and price forecasts, the currency may hit a high of $52.37 by 2023 and move up to $64.88 by then, providing a fantastic return on investment.

    GOV Capital – According to our analysis, the FTX Token has a bright future and a healthy market valuation. It may have a small influence, but bulls will return, and the price of FTT Tokens might soar to $805 in the next five years.

    Cryptocurrency Price Prediction – FTX Token’s price might reach $200 by the end of 2021 and $1778 by the end of 2025 if our predictions come true.

    How to Choose the Right Crypto Broker

    Given the large number of brokers from whom to buy FTT, it’s vital that you pick the finest choice available. Consider the following aspects when you search for the best broker for you:

    1. Fees

    What is the relevance of selecting a low-cost broker when trading cryptocurrencies like FTX token? Because costs can add up rapidly. Before choosing a trading platform, get a breakdown of the broker’s fee structure. Withdrawal and deposit fees, as well as transaction and trading fees, should all be included.

    2 – Safety

    The right broker should have suitable safety and security measures in place to prevent unauthorised access to your money.

    3. Support

    A reputable broker will also have a strong customer service department to assist you with your every requirement.

    4. Deposit Options

    You want to be able to deposit as much money as possible. There are numerous options available, ranging from bank transfers to credit cards to payment processors. Just bear in mind that each one has its own set of costs.

    When you’re considering an investment, follow these things:

    Every cryptocurrency comes with risks, and this is especially true in the case of FTT. So, whenever you invest, you mustn’t get drawn into FOMO. Apart from following others, you must conduct your research before investing in any digital asset.

    1 – Research, research, research: Before investing your money, excellent and comprehensive research about the product must be done to avoid risks associated with them.

    Here are the different methods we looked into:

    1. Exploring Social Media platforms.
    2. Analyzing upcoming events.
    3. Research the fundamentals.
    4. Discover trending topics.
    5. Utilize the power of niche forums.
    6. Go to crypto meetups.
    7. Observe transaction volume.

    2 – Monitor the market:

    Monitoring the market is a second step in knowing more about your selected product/ digital asset. The market could move in a different direction from your expectations, and keeping your calm when the market is moving in another direction is also an essential factor. The best way to monitor the market is to go through the review sites and recommendations on them.

    Buying FTT as a CFD Product

    Contracts for differences (CFDs) are derivatives that allow you to speculate on multiple financial markets without owning the underlying asset. It is widely used in established markets such as foreign exchange currency pairings, stocks, bonds, indices, and commodities.

    Trading CFDs entails more than simply buying and selling; it also entails agreeing to swap the difference in an asset’s price when the contract is opened and expires.

    CFD trading has made its way into the cryptocurrency industry, and FTT is now available as a CFD product. If you’re having trouble understanding bitcoin trading and where to keep your crypto funds, you may use CFDs to profit from FTT. We recommend trading FTT CFDs on the Binance or coinbase platforms since these are regulated and allow you to choose from various analytical tools.

    Taxation on FTT Earnings:

    Regulators, notably the Securities and Exchange Commission (SEC), are attempting to control the cryptocurrency market because it is still young and developing. Furthermore, the Internal Revenue Service has been attempting to establish a cryptocurrency tax structure. Cryptocurrencies and digital assets are currently treated as properties and are subject to capital gains tax. However, under some circumstances, some cryptocurrency earnings are considered income and fall into the income tax category. When exchanging digital assets, the following taxable events qualify for capital gains and income taxes.

    The Internal Revenue Service (IRS) issued IRS Notice 2014-21, IRB 2014-16, providing guidance for individuals and corporations on the tax treatment of virtual currency transactions. Individuals who have bitcoin as a capital asset but are not in the trade or business of selling cryptocurrency might find answers in the IRS’s Frequently Asked Questions on Virtual Currency Transactions.

    Profit is referred to as gain in the tax world. It’s the difference between your tax basis (typically what you bought for the shares plus transaction charges) and the amount you get when you sell or exchange them.

    Taxable events that are considered property gains tax in the US:

    • Exchanging your cryptocurrency for fiat money
    • Making purchases with crypto.
    • Swapping one cryptocurrency for another – whether through an exchange or a peer-to-peer (P2P) channel – is common.

    Taxable events that are considered income taxes:

    • Block rewards from cryptocurrency mining
    • Crypto assets are earned from liquidity pools (LPs) or staking.
    • Receiving crypto for services rendered
    • Getting crypto from an airdrop
    • Earning interest from lending to decentralized finance (DeFi) platforms

    Be aware that you can write off your capital gains tax through losses incurred from trading. You can also save up to $3,000 of your income taxes, depending on how long you have held on to an asset.

    How to buy FTT

    Taxation on buying FTT 

    Calculating Your Capital Gains Tax

    In the last year, the crypto market has grown at an exponential rate, and government agencies are attempting to gain information about it. The IRS is also aiming to obtain a piece of the crypto pie, given the recent surge in the non-fungible token (NFT) sub-sector. The number of capital gains tax rates for cryptocurrencies is generally determined by two factors: first, your income tax bracket, and second, how long you have held on to your crypto asset. This will assist you in calculating:

    a.) Capital Gains on Short-Term Investments

    The amount of short-term capital gains tax you must pay is primarily determined by how long you’ve been trading or owning cryptocurrencies. You will be taxed under your normal tax bracket if you have made gains or losses from trading or owning crypto for less than a year. Losses incurred during that trading year may be valuable. You can write off up to $3,000 in taxes if you use a tax-loss harvesting plan. You also have the option of deferring your taxes to the next year.

    b.) Capital Gains on Long-Term Investments

    Long-term capital gains apply if you have been trading cryptocurrencies for upwards of a year. You will pay taxes between the range of 0 to 20% depending on your income. We have itemized the income tax brackets on this link.

    Automated Trading With Robots

    A trading robots is a computer programme that, on a computerised basis, executes all of the activities of a professional trader on an exchange. The computer software is a fully automated version of tried-and-true trading techniques. Regardless of the direction in which asset values are moving, robots tend to outperform humans during periods of substantial market volatility. This is because they rely on trading strategies that are meant to generate profits even when the market is down.

    How to buy FTT

    In addition, the most successful bitcoin bots in the world are known for their lightning-fast research and execution. As a result, they can complete a huge number of transactions every day and thereby take advantage of any trading opportunities that arise.

    Trading FTT can be a difficult profession for anyone, and there is no assurance that your market analysis will result in a profit. There are other sure ways to grow your capital with little to no effort to get around this problem. Ideally, the bots make a profit, and that profit is bigger in risk-adjusted terms than if you had just bought and held the same coins throughout.

    Trading bot software is unregulated, so you should only deposit funds into bots that you can afford to lose. Our review team has a vetting system to help filter out genuine trading software from the rest. Some of the notable trading robots that we’ve reviewed include:

    FTT Mining: Can You Mine FTT?

    Yes, as a proof of work coin, FTT can be mined. Although it is entirely possible to mine FTX tokens on your computer, it is recommended that you consider investing in an ASIC mining setup to mine FTX tokens.

    Decreasing Risk in FTT Investment:

    Every investor needs to find ways to protect themselves from any big loss. If you want to cap your risks, then follow these rules:

    Use multiple exchanges: To reduce risk in crypto trading, I use a variety of exchanges, employ hardware wallets, and invest in a variety of narratives (Oracles, Defi, or insurance). To reduce risk when trading, trade only when truly strong patterns form or when a coin has reached its bottom.

    Hedge your risks: You should always have a well-balanced portfolio of investments. Use financial instruments strategically to mitigate the risk of adverse price movements. On the other hand, the investors hedge one investment by making a trade-in another.

    Use a stop loss: A stop-loss order is used to restrict an investor’s loss on an adverse move in a security position. You don’t have to monitor your holdings on a daily basis if you use a stop-loss order. An investor’s ally is a stop loss. Be a note of it and make sure you stick to it. When things don’t go as planned when investing, you’ll want to know when to take your money out.

    Set a target:  Short-term traders who want to manage their risk should employ take-profit orders. This is because they can exit a transaction as soon as their predetermined profit target is met, avoiding the risk of a market decline. Traders that follow a long-term strategy dislike such orders since they reduce their profits.

    Fundamental & Technical analysis: When it comes to investing, I prefer to focus on coins with strong fundamentals. I only invest on rare occasions in response to news or other events. If I decide to invest, I will also do a technical analysis. I consider things like where the currency is in its life cycle. Are there any trading patterns? For the coin, there is support and resistance, recent price history, news, and forthcoming events. If I invest in fundamentally sound coins, I can stay calm even if the price changes a lot because I know the price will eventually rise.

    FTT vs. Other Cryptocurrencies

    FTT vs. Ether

    Staking FTT is very beneficial for those who want to avoid the rising gas fees on Ethereum. FTT provides additional airdrops, bonus votes in on-chain polls, waived blockchain fees, and increased referral rates for those who recommend FTX to their friends. On the flip side, Ethereum’s transactional token, Ether, is used to streamline network operations. 

    All of the Ethereum network’s programmes and services require computational power to run (and that computational power is not free). Furthermore, Ether is a payment method that network users use to pay for the services they want from the network.

    FTT vs. Bitcoin

    The FTX Token is the native cryptocurrency of the FTX Derivatives Exchange, and it is an ERC-20 token because it is based on the Ethereum network. The currency can be used to decrease exchange trading fees or as collateral against future positions. The coin is available under the ticker FTT, and it can also be staked to earn interest and win NFTs. Bitcoin, on the other hand, works without a central authority or banks, relying on peer-to-peer technology to manage transactions and issue new bitcoins. These tasks are delegated to the network as a whole. Bitcoin is open-source and nobody owns or controls it, so everyone can participate. Several unique characteristics of Bitcoin allow it to be used in ways that no other payment system has been able to.

    FTT Price Predictions: Where Does FTT Go From Here?

    Since FTX is a trading platform, anyone interested in investing in a major cryptocurrency will eventually learn about or have the opportunity to utilize it. This benefits FTT holders greatly because the token’s price will soar as more people join the site and begin using it as a trading platform on a daily basis. Token prices may rise if they break $66, as shown by the technical indicators on the FTT/USDT chart. Everybody understands that the market is in a bullish trend. FTT has ridden the bullish market wave to new all-time highs. The good news is that, as Bitcoin and Ethereum reach fresh all-time highs, crypto specialists expect the market to stay positive in the coming weeks. That means the FTT token may easily burst beyond its all-time high of $70.21 and go to the moon if my forecast comes true.How to buy FTT

    FTX token (FTT) Price Chart – Tradingview

    MLB will have 30 teams and a market value of approximately $2.2 billion by 2021. The total cost exceeds $66 billion. With its five-year partnership with Major League Baseball, FTX became the first bitcoin exchange for sponsoring a major sports league named Baseball’s Major League (MLB). FTX will become the official cryptocurrency exchange of the North American baseball league, starting with this year’s MLB All-Star Game, with its insignia appearing on umpire uniforms during all contests. The FTT token and the FTX trading platform will benefit greatly from this, as MLB had an audience of 8,311,000 viewers in July 2021, and that number is expected to rise in the near future.

    In the past, Alameda Research, a cryptocurrency trading platform worth $100 million and managing over $70 million in digital assets, traded about $1 billion each day. This is a wonderful reason to put money into FTX because of its developers’ past success. It was developed by those who built the FTX trading platform, and it scaled to $30 million in daily volume. In addition to being an enormous draw for huge crypto billionaires, the FTX platform’s recent success and expanding popularity are even better news for FTT holders.

    For this reason, before investing in the FTX Token (FTT), keep a watch on market indications and technical comments from cryptocurrency specialists in order to determine which direction the token will tilt.

    How to buy FTTFTT Price Chart – Fibonacci Extension to Play

    The symmetrical triangle patterns can be seen in the graph above. On the monthly timeframe, the FTT/USDT is heading north to test the double top resistance level of $63.12. The closing of candles above this level can drive upward trades in the FTT token.

    The bullish breakout of the FTT/USDT price could take the pair to a 161.8% Fibonacci retracement level of 88.26. Further on the higher side, the next resistance prevails at the 261.8% extension level of 129.65, whereas the 361.8% extension may remain in highlights afterward.

    With a look at the hourly chart, the price of the FTT might hit $84.79 if it manages to overcome the resistance. If the FTT price breaches the $64.05 support level, it will fall to the $57.2 support level. As a result, the FTT’s trend is determined by the breakout.

    Binance – Best Place to Buy FTT

    The FTX Token is the native cryptocurrency of the FTX Derivatives Exchange and it is based on the Ethereum blockchain, which makes it an ERC-20 token. The coin can be used to reduce trading fees on the exchange or serve as collateral against future positions. The token is available under the ticker FTT, which can also be staked to earn interest and get the chance to win NFTs.

    We forecasted FTT/USDT price could take the pair to a 161.8% Fibonacci retracement level of 88.26. Further on the higher side, the next resistance prevails at the 261.8% extension level of 129.65, whereas the 361.8% extension may remain in highlights afterward. If you’re ready to take the plunge to get in on the action, you can complete your crypto journey using our recommended broker, Binance. It only takes three minutes to get your account set up and ready to purchase FTT.

    You should also remember the following:

    • Investing in and trading FTT necessitates extensive research and effort.
    • FTT is high-risk investment. 
    • Invest just what you can afford to lose.
    • Only use registered brokers and exchanges when trading or investing.
    • You should also consult review sites and online specialists for their thoughts on Bitcoin. 

    Binance - Our Recommended Altcoin Exchange

    Our Rating

    Binance exchange
    • Widest Choice of Cryptocurrencies
    • Spot Trading & Margin Trading on Leverage
    • Staking of 10+ Coins and DeFi tokens
    • Deposit with Debit & Credit Card, SEPA transfer
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    FAQs

    Any risks in buying FTT now?

    There's always risks in buying digital assets. Only invest what you can afford to lose. The FTT price may retrace to test support around the $40 area. However in the long-term, the trend is bullish and $100 looks highly likely as a target.

    Should I buy FTT?

    With a look at the daily chart, the FTT price might hit $80 if it manages to overcome resistance.

    Where can I spend my FTT?

    FTT is still not as widely used as Bitcoin. However, there are an increasing number of stores that are now accepting it. In any case, you can always convert FTT into other cryptocurrencies like Bitcoin, Ethereum, or Tether to make payments online.

    Is it safe to buy FTT?

    The FTX exchange is a powerful trading platform for spot, over-the-counter, futures, and prediction markets. The FTT token has a total supply of 345 million FTT coins, of which approximately 95 million are in circulation. Considering such popularity and security, it's safe to buy FTT. However, make sure to research the fundamentals before making a decision.

    Will FTT ever hit $1000?

    If the FTX exchange continues to grow and dominate the cryptocurrency space, FTT will grow with it. Binance exchange's similar native token BNB has increased in price from under $1 to a high of almost $700. FTT could make similar moves.

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