How To Buy FTT Crypto Coin?
Due to the large expansion of the cryptocurrency market, investors would like to know how to buy FTT crypto coin. This is one of the most popular virtual currencies in recent times and it could be a good way to diversify users’ portfolios.
There has been some hype around this virtual currency and for a reason. In this guide, we will share with you how to buy FTT crypto coin, which are the trading platforms where you can get access to it and how the FTX trading platform works.
What is the FTX Trading Platform?
In order to understand how to buy FTT crypto coin, we need to know what the FTX trading platform is and why it became so popular in recent months. As Bitcoin (BTC) and other virtual currencies reached new all-time highs in 2021, new platforms were released and gained traction in the crypto space. FTX is one of these companies that became popular in 2021 with the bullish action experienced by digital assets.
According to FTX’s official website, this is a cryptocurrency derivatives exchange that has been built by traders and only and exclusively for traders. The main selling point of this platform is related to its innovative products such as industry-first derivatives, options and volatility products.
At the same time, this platform is also offering leveraged tokens for advanced traders that have diversified portfolios and that would like to get access to some of the most unique solutions in the crypto market. Additionally, the platform aims at developing a platform that would make it possible for trading firms to get access to the services they need.
The team behind this platform comes from some of the leading Wall Street quant firms and technology companies. The CEO and Founder of the FTX trading platform is Sam Bankman-Fried and he worked as a trader at Jane Street Capital’s International ETF desk.
Other team members and experts include Gary Wang, the CTO and Founder, Nishad Singh, the Head of Engineering, Dan Friedberg, General Counsel, and many others. The team of experts is working on a daily basis to make this exchange one of the most advanced in the crypto industry.
Partners and Recent News
If you want to know how to buy FTT crypto coin, it is because you have recently heard of this cryptocurrency and platform. FTX has partnered with several companies and crypto firms in the industry such as Binance, Circle, Alameda Research, Paxos, Bitfinex and many others. In this way, the company becomes one of the fastest-growing crypto exchanges in the industry.
At the same time, the FTX crypto exchange was able to raise $900 million in a funding round at an $18 billion market valuation. Furthermore, the exchange became one of the platforms with the largest volume in the crypto space, surpassing many of the legacy exchanges that have been operating for years.
What is FTT Coin?
Due to all these reasons, we should also focus on the FTT coin. Many users and investors would like to know how to buy FTT crypto coin. The FTX token (FTT) is the digital asset of the FTX cryptocurrency exchange.
This cryptocurrency exchange and, consequently, its token, are backed by one of the leading companies in the cryptocurrency market: Alameda Research. The token works in the FTT exchange as a token that aims at increasing network effects. The goal is to increase demand for FTT as new services and solutions are released to the market. Additionally, it is also possible for the virtual currency to decrease its circulating supply in the long term.
At the moment, there are 94 million tokens released to the market and the total supply is 345 million FTT tokens. The digital asset works on top of the Ethereum (ETH) network as an ERC-20 token. There are several wallets and exchanges already supporting this digital asset and project.
FTT Coin Price
The FTT coin has been one of the hottest virtual currencies in recent months. 2021 was one of the best years for the cryptocurrency market and this could be seen in the price of the FTT token.
The price of the FTT token has been stable during 2019 and the end of 2020. However, it experienced a 3x increase throughout that period of time. If this was already positive, then the price expansion experienced in 2021 was more than incredible.
The price of the FTT crypto coin moved from 4.5 USDT in December 2020 to over 60 USDT in July 2021. This massive price increase of over 1,200% shows the opportunities offered by this virtual currency over the last few months.
Nowadays, the price of the FTT coin has stabilized close to 30 USDT per coin. In the coming years, the virtual currency could continue growing alongside this cryptocurrency exchange.
This is similar to the expansion of the Binance Coin (BNB) virtual currency. It has been growing due to the growth that the homonymous exchange underwent. Binance Coin is also used to pay for fees on the Binance Smart Chain (BSC) network and on the Binance exchange.
Finally, the token is now the 31st largest in the world when measured by its market valuation. At the time of writing, it has a market valuation of $2.83 billion.
How to Buy FTT Crypto Coin?
Now that we know what the FTT crypto coin is and how it works on the FTX cryptocurrency exchange, we can explain to you how to buy FTT crypto coin. It is not a difficult thing if you have basic knowledge about crypto exchanges or if you handled digital assets in the past.
Instead, you might have to better understand digital assets if this is your first time purchasing virtual currencies. Nonetheless, most of the exchanges are now very easy to use and they guide most users throughout the whole buying process.
FTX
The most popular exchange to purchase FTT is the FTX exchange. This platform is the exchange that supports the FTT virtual currency and that integrated it for users to enjoy some of the best services of the FTX platform.
The exchange is also the one with the largest volume for the FTT virtual currency. In the last 24 hours, the platform handled more than $26.5 million in trades. This represents 42.39% of the total trading volume of the FTX virtual currency.
If you want to know how to buy FTT crypto coin, then you should definitely consider this platform in the first place. You would be able to enjoy most of the solutions offered by FTX and most of its services. There is no other exchange in the world with a similar integration to this virtual currency.
This is similar to how Binance integrated the BNB virtual currency. In the future, if new solutions are implemented on the FTX crypto exchange, you might be able to get access to them as long as you use this platform and virtual currency. Eventually, if you purchase FTT in another exchange, you can send the coins to FTX and start using all the solutions present on this trading platform.
The trading pairs currently available at FTX include FTT/USDT, FTT/USDT and FTT/BTC. Together, they represent 50.83% of the total trading volume of this virtual currency around the world.
Binance
This is another popular cryptocurrency exchange that you can use if you want to know how to buy FTT crypto coin. Binance was released in 2017 and it is now offering some of the most advanced trading solutions to users in the market. In addition, Binance became one of the largest exchanges in terms of trading volume over the last years.
You can buy FTT using this exchange and send the funds to the FTX platform if you want to get access to most of the solutions that have been implemented for the FTT token. Moreover, Binance would allow you to use most of its services such as its fee token scheme, futures trading and staking, among other things.
18.54% of the total trading volume for this virtual currency is currently handled by Binance trading pairs. These trading pairs include FTT/USDT, FTT/BTC, FTT/BUSD and FTT/BNB. If trading volumes grow, it might be possible for Binance to add new trading pairs. However, these are enough to help the exchange become one of the largest in terms of the trading volume for this virtual currency.
Huobi Global
Let’s now focus on Huobi Global, a cryptocurrency exchange that is available worldwide and that offers users the possibility to trade a large number of cryptocurrencies. The Huobi Global exchange has the following trading pairs:
FTT/USD
FTT/BTC
FTT/HT
These trading pairs represent 6.86% of the total trading volume around the world of the FTT token. If you want to know how to buy FTT crypto coin, then you could easily open an account on the Huobi Global exchange and start trading this virtual currency in seconds.
Instead, Huobi Korea offers FTT/BTC and FTT/USDT, but this platform has almost no trading volume for this virtual currency. If you want to trade this digital asset, the best thing to do is to always search for the most liquid exchanges and the platforms with the largest volume on the market.
The platform has also been growing in recent years and it became a competitor to other exchanges such as Binance. If you are new to the cryptocurrency market, then this could be a good platform to use due to the large number of payment methods that the exchange supports.
Uniswap
Uniswap is a different exchange compared to Binance, Huobi Global, Coinbase or FTX. This platform is a decentralized exchange (DEX) that offers users the possibility to swap virtual currencies without the need for a centralized party such as a centralized exchange.
Crypto swapping became popular over the last year. Uniswap is one of the largest decentralized exchanges in the world and it expanded as an automated market maker (AMM). These automated market makers allow digital assets to be traded without the need to use liquidity pools.
In order to trade the FTT crypto coin, users would need to have an ERC-20 compatible wallet such as Metmask. However, if you are a newcomer to the crypto industry or you just want to hold and trade FTT, the best option is to use a centralized trading platform.
One of the benefits of using this platform is related to the fact that you do not have to give your virtual currencies to a third party. You control your funds at all times. However, you should take into consideration that all the transactions are currently handled by smart contracts. Thus, if there is a bug or a hacker exploits a smart contract, then your funds could be at risk.
Bitfinex
The last exchange that is currently offering FTT token is Bitfinex. This platform does not have the trading volume as other platforms but it has two different trading pairs: FTT/USDT and FTT/UST. The total trading volume for these two trading pairs was equal to just 0.07% of the total trading volume for the FTT crypto coin.
Bitfinex is one of the oldest exchanges in the market. Compared to other platforms, Bitfinex has good contact with regulators and it has been offering trading services for several years now. This exchange has also some of the most attractive fees for users that want to buy and sell virtual currencies.
Traders on this platform can also enjoy advanced trading solutions such as derivatives (futures). Bitfinex has also different payment options supported, which would make it easier for you to get access to most of the virtual currencies currently available in the market.
Final Words
These are just some of the best exchanges on how to buy FTT crypto coin. However, there are many other exchanges that are currently supporting the FTT crypto coin. Everything would depend on the services you need and on the solutions you are searching for.
If you want to get fast and easy access to FTT, then centralized exchanges could be the best option. Instead, if you are an experienced trader and you feel comfortable managing also other trading platforms such as Uniswap, then you might prefer these sites.
Source: Read Full Article
