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Where to Buy FTX token

FTT Token offers unique use cases and unmatched functionalities. Read ahead as our expert shares the details on how to buy FTT token via the eToro Platform.
ftt TOKEN
ftt TOKEN

With the inception of blockchain technology, several sectors of commerce and economics are set to be revolutionized. By utilizing decentralization as its core, several cryptocurrencies and tokens have been making better various technological domains. They also have different attributes and various use cases.

One such cryptocurrency to look out for is the FTX token (FTT). Before we list several reputed exchanges from where you can buy the token, we will take a look at the exchange it is based on – FTX Exchange.

What is FTX?

FTX is the cryptocurrency exchange that hosts the FTX token – ticker name FTT. It was founded in May 2019 by MIT graduates Sam Bankman-Fried and Gary Wang. Sam Bankman-Fried is one of the most influential people currently in the cryptocurrency space due to his ideas and actions of philanthropy.

As a professional with previous experience in finance, Sam created the exchange with an ambition to potentially give away all the profits he accumulates towards charity.

FTX created a major foothold in the industry thereafter, generating a massive userbase. With over 5 million active users, the exchange supports several features like futures, leveraged tokens and OTC trading. It is backed by Alameda Research, one of the largest liquidity providers in the space and trades cryptocurrencies worth $600 million to $1 billion on a daily basis.

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FTT- Use Cases and Growth

FTT is the native token of the FTX exchange. Primarily, the token is used to lower trading fees, or to serve as collateral against futures positions. It can also be used for staking to generate interest and win NFTs featured in the exchange.

what is FTT token

The developers of FTT are also some of the best and most sought-after tech specialists with experience from companies like Facebook, Google, Optiver, Jane Street etc. The project has been built keeping in mind several evolving aspects of cryptocurrency. It has features to eventually enhance its network and demand.

Some of the major features are –

Consistent and planned token burns-

These are crucial for reducing the supply and thereby increasing demand. ⅓rd of every FTT transaction will be used to buy back FTT and have them burned. The team plans on carrying out token burns till half of the total supply is destroyed.

Trading Fee Concessions for Holders

Holders of FTX tokens will be entitled to a subsidized fee for futures trading on the FTX exchange. As a growing ecosystem that is sure to capture many users in the future, this fact can easily drive up demand.

Collateral for Trades

Future positions can be taken against FTT tokens. With the exchange planning to eventually introduce margin trading, the coin is sure to get more traction.

Staking for Events and Awards

Exchanges host several events and programs where users are expected to lock the native token to participate. As the cryptocurrency markets grow, there will be a surplus of such events or programs on exchanges. This will make the FTT token an integral asset for those wishing to partake in the said programs held on FTX.

Now that we have an understanding of the use case and other specifics, let us get to the main part and look at some of the most efficient and popular cryptocurrency exchanges where you can buy the FTT token.

Best Exchange to Buy FTT Token in 2022

1. eToro

For all those crypto enthusiasts who are motivated by the decentralized factor, eToro is the best bet. The platform is one of the safest to begin the crypto journey as the Securities and Exchange Commission (SEC) regulates eToro, and it is registered with the Financial Industry Regulatory Authority (FINRA) as well.

Users don’t have to incur any deposit fee while funding their eToro account in US dollars. The best part for newbies is that eToro’s minimum deposit requirement for US users is only $10. This means all you need is $10 to get started in the crypto world.

The news about the addition of the FTT token was announced on 31st May by eToro on its official blog. eToro also added 5 more crypto on its platform. As of now, users can trade and buy more than 60 cryptos on its platform.

FTT etoro buy

Apart from investing in various cryptos, an investor could also stake prominent cryptos and use the Crypto Portfolio feature. The feature makes investing a lot easier for investors as eToro manages the portfolio, and there lies no need for research or continuous upkeep.

While eToro is one of the best and most popular choices, there are other exchanges too that you can explore. Read ahead about it more.

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2. Binance

This name just had to be on the list. Binance is currently the No. 1 cryptocurrency exchange in the world. BinanceThis is not only in terms of popularity but also several other factors like market share or trading volume.

Founded by Changpeng Zhao in 2017, Binance captured the market quickly, thanks to its major focus on altcoin trading and several features that were highly embraced by the users.

Previously based out of China, Binance had to shift to Malta due to the cryptocurrency ban in the country. As of 2021, Binance had more than 28.6 million users. It currently has more than 600 currencies listed on the app to trade.

is FTT token worth buying

With previous experience in creating high-frequency trading software and in the cryptocurrency domain as well, Changpeng Zhao created Binance by raising funds through an ICO(Initial coin offering). While the exchange has been exposed to several allegations and cases from government authorities regarding legal compliance, Binance has time and again, managed to prove its authenticity and transparency.

Binance listed FTT in December 2019, and since it is one of the most used exchanges, there hasn’t been any concern about liquidity since. The platform charges a 0.1% fee for buying tokens in the spot market. It provides a wide array of payment choices too. You can buy FTT in three pairs- FTT/USDT, FTT/BUSD and FTT/BNB. You can also stake your FTX tokens on the Binance platform for decent returns.

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3. Bitstamp

Bitstamp is one of the oldest cryptocurrency exchanges that is still a prominent platform among many cryptocurrency enthusiasts. Based in Luxembourg, Bitstamp was created by Nejc Kodric and Damijan Merlak.

It was born as a result of the efforts by both the founders in 2011 and intended to serve as an alternative to the then-leading Bitcoin exchange based in Europe- MT. Gox. With a powerful team of around 400 people, the exchange quickly managed to create a huge network all across the world.

FTT token buy

Bitstamp was sold to the South Korean gaming firm Nexon. The company owns about 80% of the exchange now. This hasn’t affected the quality of trading experience that Bitstamp provides. Users need to finish KYC in order to be able to buy or sell cryptocurrencies on the platform.

After some exposure to cyber attacks, the platform started creating better safety options consistently and has now partnered with some of the best institutions in the industry to aid them like the Chicago Merchantile Exchange. With only a limited number of cryptocurrencies to choose from, Bitstamp truly focuses on some of the most fundamentally rich cryptos. It also boasts of an API feature that lets clients utilize custom software to control their own accounts.

FTT was listed on the platform in June 2021 and is traded for a fee structure that depends on the amount of cryptocurrency bought. For trades below $10,000, the fee is 0.5%. The same goes lower as the amount traded increases even more.

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4. Huobi Global

As one of the most prominent exchanges in the Asian market, Huobi has been attracting users heavily ever since its launch in 2013. Founded by Leon Li and Du Jun, the platform has offices in Hong Kong, Japan, South Korea and the United States. It has also received investment from popular VC firms like Dai Zhikang, Zhen Fund and Sequoia Capital.

Huobi provides a digital ecosystem that includes spot trading, staking, crypto loans, crypto yield products derivatives trading etc. With more than 400 cryptocurrencies available to trade, Huobi is not only popular for its userbase, but also for the high liquidity that it holds. Huobi claims that as of today, the platform is host to tens of millions of users from all over the world.

FTT huobi

The client funds of Huobi are held in several cold wallets and are secured by a 20,000 BTC secured reserve fund, in order to tackle extreme accidents and provide an added layer of safety. The exchange also managed to receive regulatory approval to conduct business in several other regions and states that it plans of expanding its market in the west. Currently, the said userbase extends to over 170 countries and regions.

Huobi listed the FTX token in July 2019. As of today, there are three FTT trading pairs on the platform- FTT/USDT, FTT/BTC and FTT/HT. You can buy the token using several payment modes like debit or credit cards, P2P or direct bank transfers. Trading fees are subject to the amount of cryptocurrency that you buy.

Bigger buys are incentivized by providing discounts on the fees. However, the base fee for a transaction currently is set at 0.2%.

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5. KuCoin

As an exchange that witnessed over 709% year-on-year growth in 2021, Kucoin is clearly a top choice for many when it comes to buying, selling or storing cryptocurrency. It was founded in 2013 by Michael Gan, Eric Don, Top Lan, Kent Li, John Lee and Jack Zhu, as an alternative to cryptocurrency exchanges that were difficult to use for a beginner.

Currently headed by Johny Lyu and officially launched in 2017, the crypto exchange has managed to capture a major chunk of the retail market while gaining the name- The people’s exchange.

KUcoin FTT token

Since the platform was built for beginners, the interface of the app is simple, and this fact created a surge in mobile installations of the app which went as high as 755% in 2021 itself. Apart from this, the platform also boasts of backing from some of the biggest names in the cryptocurrency industry. The list includes Aura Network, Skynet EGLD Capital, Blofin, Xrush, Star Sharks, Ref Finance and many more.

With over 10 million users, KuCoin claims to be No.1 in terms of globalization and features several offerings to help and educate traders all over the world. The service allows users to buy, sell, and trade digital currencies. The platform also offers margin, futures, and peer-to-peer (P2P) trading options. In addition, users can stake or lend their crypto to earn rewards.

FTT is available in the USDT and BTC pair on KuCoin. It can be bought via all major modes of payment. The application doesn’t essential require a verification process. It allows you to buy crypto by simply adding an email id to the account. KuCoin listed FTT for spot trading in September 2021.

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6. Bybit

Bybit is an upcoming exchange that has gained much traction in the past couple of months. Founded by Ben Zhou previously from XM, one of the world’s biggest Forex brokerage firms, the platform Bybit dubs itself a “One-stop crypto destination”. Launched in 2018, the platform consists of more than 1.6 million users.

Bybit consists of around 230 tradeable tokens and keeps increasing this number by constantly looking for better projects to list. Investors like Galaxy Blitz, Paradigm, and Matter Labs have been a part of the project since its early days and seem to be getting ready to expand their business even more.

FTT token Bybit

Founded on the concept of customer-centricity, Bybit aims to provide retail and professional clients around the world with a professional, smart, intuitive, and innovative trading experience. In addition to providing a fair and efficient trading environment, the developers boast of a 24/7 multilingual customer support service to assist clients promptly.

In an attempt to teach the newbies in the crypto community, Bybit strives to create content too, that can be educating for everyone. The trading bots by the platform are another giant benefit. These bots can be utilized to carry out trades and generate profits too.

With a variety of payment modes made available, the exchange consists of a 0.10% trading fee. The safety measures for Bybit are also set in place strategically, with features like enabling crypto withdrawal only thrice a day to add an extra layer of security.

The FTX token is available in the USDT pair on the platform. Bybit listed FTT in December 2021.

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Price Analysis of FTT Token

The current market conditions have paved the way for a considerably big correction in the price of FTT. The price of FTT reached its ATH (All-Time High) in December 2021 as it hovered around the $80 level.

FTT price

At the time of writing, FTT is priced at 25 dollars. This price may see a decent growth as market conditions fair well. Thus, the current levels may be a good chance to start investing in FTT.

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Is FTT a Good Investment?

Since the growth of FTT is tied directly to the growth of the FTX exchange, it is crucial that the exchange grows in value and more people eventually use it to trade cryptocurrency or carry out other activities. Some factors that can trigger this are as follows-

FTX has a Solid Security System.

Compared to many other exchanges, FTX has a huge team, powerful insurance plans and many cryptocurrencies held in cold wallets that will incentivize people to prefer the exchange.

FTT token Utility is Constantly Being Improved Upon.

While the token was previously only used as a means to obtain a discount on trading fees, several other features are bought by the exchange to grow demand for the token. Going forward, this may include NFT drops, token airdrops, lucky draws or lotteries that require the native token, i.e. FTT to be locked up.

The Tokenomics of the Cryptocurrency is Foolproof.

FTT has a total supply of 331,581,594 tokens of which 39% are currently in circulation. Every transaction involving FTT as mentioned in the beginning will record a small buyback. These tokens shall then be burned till half of the total supply is out of existence. Such a factor aligned with increased potential usage of the exchange will create more demand; thus increasing prices.

Goodwill and trust may sound like abstract terms, but play an influential role in shaping the minds of users. The CEO Sam Bankman-Fried has been extremely popular due to his charitable visions and actions towards the same. FTX too has positioned itself as an organization with philanthropic views. This may also be a driving factor for growth.

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How to Buy FTT Crypto – a Tutorial

In this section, you’d become aware of the step-by-step process of investing in FTT token. We would give the demo on the eToro platform, however, the process is similar on other exchanges as well.

Step 1: Open an eToro Account

First of all, go to the eToro website and open an account.

etoro signup

You will have to give basic information such as your home address, date of birth, and social security number.

Step 2: Upload ID

On eToro, you need to complete KYC formalities to begin buying FTT tokens with US dollars.

etoro verification

You can upload a copy of your state ID card, passport, or any other relevant documents to complete this process.

Step 3: Deposit Funds

To buy FTT coin, you need to deposit a minimum of $10 in your account. Major payment methods, including Visa, MasterCard, and ACH, are allowed for this purpose.

etoro deposit funds

Step 4: Search for FTT

At the top of the eToro website, there is a search box. Once you search for the FTT token you’d find the coin on the platform.

Step 5: Buy FTT

Now all you have to do is buy FTT coins by clicking ‘Trade’ in the top right corner.

is FTT crypto worth buying

On the next box that pops up, select an amount to invest in FTT and then confirm the order with the ‘Open Trade’ button.

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Conclusion

Overall, we believe investing in FTT Token may be the right choice considering the technological advancements it offers. But proceeding without your own research could be dangerous.

So at last, do your own research and buy FTT token only through a well-known and regulated platform such as eToro.

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