How and Where to Buy FTX Token (FTT) – Detailed Guide
- What is FTT?
- Step 1: Register on Fiat-to-Crypto Exchange
- Step 2: Buy BTC with fiat money
- Step 3: Transfer BTC to an Altcoin Exchange
- Step 4: Deposit BTC to exchange
- Step 5: Trade FTT
- Last Step: Store FTT securely in hardware wallets
- Other useful tools for trading FTT
- Frequently Asked Questions
- Latest News for FTT
- FTT Price Prediction and Price Movement
What is FTT?
What Is FTX Token (FTT)?
FTT is the native cryptocurrency token of the crypto derivatives trading platform FTX that launched on May 8, 2019.
The team behind FTX comprises some of the largest crypto traders over the past few years who, having found issues with most mainstream crypto futures exchanges, decided to launch their own platform. FTX claims that it stands out due to such features as clawback prevention, a centralized collateral pool and universal stablecoin settlement. FTX is a centralized crypto exchange launched by Sam Bankman-Fried in 2019, backed by significant trading companies in the industry, including Almeda Research, OTPP, Temasek, BlackRock, Coinbase Ventures and Sequoia Capital. As of 2022, the platform has over a million registered members, and the daily trading volume has reached billions of dollars.
In regards to clawback prevention, a significant amount of customer funds on other derivative exchanges have been claimed by socialized losses. FTX reduces this by using a three-tiered liquidation model.
On existing crypto futures exchanges, the collateral is fragmented across separate token wallets; this can be difficult for traders as it prevents positions from getting liquidated. On the other hand, FTX derivatives are stablecoin-settled and only require one universal margin wallet.
Another feature of the FTT are leveraged tokens, which allow traders to put leveraged positions without the need to trade on margin. If a trader wants to short Bitcoin with 3x leverage, they can simply buy a 3x short Bitcoin leveraged token on FTX. These tokens are ERC20-compatible and can be listed on any spot exchange. FTX currently offers XRP, BNB, TRX, BTC, ETH, EOS, USDT and LEO leveraged tokens.
A year after its founding, FTX Exchange introduced the exchange token called FTX Token or FTT. The FTT coin is an ERC-20 standard token that is actively used by ecosystem participants.
Initially, FTT was established as a reward for exchange transactions; however, over the years the list of functions has grown:
FTT is applicable in the creation of leveraged tokens on the FTX Exchange; users can receive VIP discounts in the form of FTT depending on the number of coins they own, and it’s possible to earn rewards for providing liquidity through futures positions.
In order to maintain its value, the exchange regularly buys back and burns its tokens, spending on the purchase of FTX: 33% of trading fees, 10% of the reserve fund, and 5% of other commissions.
FTT Token use cases:
1/3 of the commissions received from transactions on FTX are utilized to buy back FTT. Tokens redeemed in this way are burned;
FTT tokens are used to reduce trading fees and to secure futures positions;
Profits from massive market movements are distributed among the holders;
By purchasing a white label version of FTX’s OTC portal and futures market, institutions and investors pay expenses in FTT tokens;
By creating leveraged tokens, projects can pay listing fees with FTT;
Users can stake FTT to benefit from discounts, bonus votes, and blockchain fee waivers.
One benefit of FTX Token (FTT) is commission discounts. Members pay a low fee and obtain tighter spreads. Traders use FTT as collateral, and those who are active on FTX Exchange see percentage differences of up to 60%. Traders get insurance protection, which ensures a net profit in moments of market volatility, then makes it possible to continue trading even without a margin call.
In addition to the fact that FTT is useful for opening positions with leverage, FTT staking also offers perks: discounts, the opportunity to win NFTs, participation in airdrops, bonus votes and IEO tickets.
Who Are the Founders of FTX Token?
The FTX Token or FTT was founded by Sam Bankman-Fried and Gary Wang.
Sam Bankman-Fried is the co-founder and chief executive officer at FTX: Cryptocurrency Derivatives Exchange. He is also the CEO of Almeda Research and worked as a director of development at the Centre for Effective Altruism. He was also a trader at Jane Street Capital from 2014 to 2017.
Bankman-Fried studied physics and has a bachelor’s degree from the Massachusetts Institute of Technology.
Gary Wang is the co-founder and chief technology officer at FTX: Cryptocurrency Derivatives Exchange. He is also the chief technology officer at Almeda Research. Before this, he worked as a software engineer, after moving up from a software engineering intern at Google. He was also a software engineer intern at Facebook.
He has a Bachelor's degree in mathematics and computer science from the Massachusetts Institute of Technology.
What Makes FTX Token Unique?
FTX is backed by Almeda Research, which is known as one of the leading companies in crypto trading and one of the largest liquidity providers.
As such, FTX is a product designed by professionals with confirmed expertise in the industry. They cover multiple services: from collateral to maintenance margin to liquidation processes and product listing. FTX also claims to be focused on fast development cycles, allowing them to deploy crypto trading systems at a competitive pace.
FTX Token (FTT) “Buy and Burn” Driving Deflationary Tokenomics
FTX Token (FTT), the native token of FTX derivatives exchange, is a deflationary cryptocurrency. Over 20 million FTT tokens have been permanently removed from circulation using the tokens “buy and burn” mechanism.
FTX Exchange Globalization Bringing FTT to New Markets
For the past few months, FTX has been making its way into more significant markets. The latest markets it has penetrated include Dubai and, South Korea's second-largest city, Busan. Dubai gave FTX full approval to operate in the Emirate while it reached an agreement with Busan to establish a Korean branch. With more markets, FTT, the utility token of the exchange, is expected to see more usage, which will also translate to more burns.
Meanwhile, the FTT token has also been getting listed on more exchanges. In February 2022, Bitget became the 49th crypto exchange to list FTT for trading on its platform. Similarly, TokoCrypto added a new FTT/ETH trading pair on its platform.
The exchanges with the biggest trading volumes of FTT remain Binance, FTX and Bitcoin.com.
FTT Ecosystem Still Expanding Via FTX Mergers and Acquisitions
The team at FTX has remained confident in its finances amidst a market slump that has seen several crypto companies go underwater. It aims to expand its ecosystem through mergers and acquisitions.
The exchange has been reported to be in talks to acquire crypto lenders Voyager Digital and BlockFi, along with South Korean exchange Bithumb. This was after FTX passed up the chance to acquire Celcius.
FTX has been able to pursue these ecosystem expansion moves largely with gains made during the recent bull market. Per reports, it saw its revenue grow by more than 1,000% from $89 million to $1.02 billion in 2021.
The company also brought in $270 million in revenue in the first quarter of 2022. This put it on track to do roughly $1.1 billion in revenue in 2022 before the "crypto winter" entered full swing in Q2 of this year.
In related events, FTX.US has been making significant strides in establishing a presence in the United States. The FTX subsidiary has launched an NFT platform to diversify the exchange's streams of revenue. It.US has made investments in regulated stock exchanges to add traditional options trading to its range of products.
Related Pages:
Learn more about TomoChain.
Learn more about Aave.
Learn more about mining Monero.
Discover a lot more crypto news on our CoinMarketCap blog.
How Many FTX Token (FTT) Coins Are There in Circulation?
FTX is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading with a focus on institutional-grade solutions.
The FTX Token is the backbone of the FTX ecosystem, which was designed to increase network effects and demand for FTT as well as decrease its circulating supply.
FTT has a circulating supply of around 94 million tokens as of February 2021 and a total supply of about 345 million.
How Is the FTX Token Network Secured?
FTT is an ERC-20-compatible exchange token. The Ledger Nano X/S hardware wallet allows users to securely store and manage the FTT tokens via its Ethereum app.
Both the FTT and the leveraged tokens security audits are done by the Blockchain Consilium auditing firm.
Where Can You Buy FTX Token (FTT)?
FTX Token or FTT can be purchased, sold and traded on several exchanges, including:
Binance JEX
HitBTC
FTX
Huobi Global
Binance
If this is your first time purchasing, trading, or selling Bitcoin, you can learn more about the process here.
FTT was first tradable on 31st Jul, 2019. It has a total supply of 328,895,103.813,207. As of right now FTT has a market capitalization of USD $696,731,504.5. The current price of FTT is $1.98 and is ranked 100 out of the top 100 cryptocurrencies on Coinmarketcap and has recently surged 22.88 percent at the time of writing.
FTT has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy FTT.
Step 1: Register on Fiat-to-Crypto Exchange
You will have to first buy one of the major cryptocurrencies, in this case, Bitcoin (BTC). In this article we will walk you through in details two of the most commonly-used fiat-to-crypto exchanges, Uphold.com and Coinbase. Both exchanges have their own fee policies and other features that we will go through in detail. It is recommended that you try both of them and figure out the one that suits you best.
Select Fiat-to-Crypto Exchange for details:
- UpHold
Being one of the most popular and convenient fiat-to-crypto exchanges, UpHold has the following advantages:
- Easy to buy and trade among multiple assets, more than 50 and still adding
- Currently more than 7M users worldwide
- You can apply for UpHold Debit card where you can spend the crypto assets on your account like a normal debit card! (US only but will be in the UK later)
- Easy to use mobile app where you can withdraw fund to a bank or any other altcoin exchanges easily
- No hidden fees and any other account fees
- There are limited buy/sell orders for more advanced users
- You can easily set up recurring deposits for Dollar Cost Averaging (DCA) if you intend to hold cryptos long term
- USDT, which is one of the most popular USD-backed stablecoins (basically a crypto that is backed by real fiat money so they are less volatile and can be treated almost as the fiat money it's pegged with) is available, this is more convenient if the altcoin you intend to buy has only USDT trading pairs on the altcoin exchange so you don't have to go through another currency conversion while you buy the altcoin.
Type your email and click 'Next'. Make sure you provide your real name as UpHold will need it for account and identity verification. Choose a strong password so that your account isn't vulnerable to hackers.
You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.
Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institutions, UpHold is regulated in most countries such as the US, the UK and the EU. You can take this as a trade-off to using a trusted platform to make your first crypto purchase. Good news is that the whole so-called Know-Your-Customers (KYC) process is now fully automated and it shouldn't take more than 15 minutes to finish.
Step 2: Buy BTC with fiat money
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You may be charged higher fees depending on your credit card company and the volatile prices when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees.
Now you are all set, on the 'Transact' screen under the 'From' field, select your fiat currency, and then on the 'To' field choose Bitcoin, click preview to review your transaction and the click confirm if everything looks good... and congrats! You've just made your first crypto purchase.
Step 3: Transfer BTC to an Altcoin Exchange
Select altcoin exchanges:
- Gate.io
- KuCoin
- Binance
- Poloniex
- ProBit
But we are not done yet, since FTT is an altcoin we need to transfer our BTC to an exchange that FTT can be traded, here we will use Gate.io as our exchange. Gate.io is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.
Gate.io is an American cryptocurrency exchange that launched 2017. As the exchange is American, US-investors can of course trade here and we recommend US traders to sign up on this exchange. The exchange is available both in English and Chinese (the latter being very helpful for Chinese investors). Gate.io’s main selling factor is their wide selection of trading pairs. You can find most of the new altcoins here. Gate.io also demonstrates an impressive trading volume. It is almost every day one of the top 20 exchanges with the highest trading volume. The trading volume amounts to approx. USD 100 million on a daily basis. The top 10 trading pairs on Gate.io in terms of trading volume usually have USDT (Tether) as one part of the pair. So, to summarize the foregoing, Gate.io’s vast number of trading pairs and its extraordinary liquidity are both very impressive aspects of this exchange.
After going through a similar process as we've done before with UpHold, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.
Step 4: Deposit BTC to exchange
Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you're done with it you should have full access to your exchange wallet.
If this is your first time making a crypto deposit, the screen here may look a bit scary. But don't worry, it's basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying 'BTC address', this is a unique public address of your BTC wallet at Gate.io and you can receive BTC by giving this address to the person to send you the funds. Since we are now transferring our previously bought BTC on UpHold to this wallet, click on 'Copy Address' or right-click on the full address and click copy to grab this address to your clipboard.
Now head back to UpHold, go to the Transact screen and click on BTC on the "From" field, choose the amount you wan to send and on the "To" field choose BTC under "Crypto Network", then click "Preview withdraw".
On the next screen, paste the wallet address from your clipboard, for security consideration you should always check if both addresses are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.
After reviewing, click 'Confirm' to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to Gate.io!
Now go back to Gate.io and head to your exchange wallets, don't worry if you haven't seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Bitcoin network, during busy times it may take even longer.
You should receive a confirmation notification from Gate.io once your BTC has arrived. And you are now finally ready to purchase FTT!
Step 5: Trade FTT
Go back to Gate.io, then go to 'Exchange'. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let's get our heads around this.
In the right column there is a search bar, now make sure "BTC" is selected as we are trading BTC to altcoin pair. Click on it and type in "FTT", you should see FTT/BTC, select that pair and you should see a price chart of FTT/BTC in the middle of the page.
Below there is a box with a green button that says "Buy FTT", inside of the box, choose the "Market" tab here as that is the most straight-forward type of buying orders. You can either type in your amount or choose what portion of your deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click "Buy FTT". Voila! You have finally bought FTT!
But we are not done yet, since FTT is an altcoin we need to transfer our BTC to an exchange that FTT can be traded, here we will use KuCoin as our exchange. KuCoin is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.
KuCoin is a cryptocurrency exchange based in the Seychelles (previously Hong Kong). Launched in September 2017, KuCoin claims to have 5 million users from over 200 countries and regions. Often known as the People’s Exchange, KuCoin now offers crypto-related services like crypto-to-crypto, fiat-to-crypto, futures trading, staking, lending and so forth. The exchange has one of the world’s most impressive trading pair selections, with more than 250 supported coins and 440 trading pairs. KuCoin was backed by two giant traditional venture capitals when launching - IDG Capital and Matrix Partners. The exchange also announced a USD 20 million round A funding from them at the end of 2018.US-investors are not listed as prohibited from trading. If you are a US-investor, however, you should still always analyse yourself whether your home state imposes any obstacles for your foreign cryptocurrency trading.
After going through a similar process as we've done before with UpHold, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.
Step 4: Deposit BTC to exchange
Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you're done with it you should have full access to your exchange wallet.
If this is your first time making a crypto deposit, the screen here may look a bit scary. But don't worry, it's basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying 'BTC address', this is a unique public address of your BTC wallet at KuCoin and you can receive BTC by giving this address to the person to send you the funds. Since we are now transferring our previously bought BTC on UpHold to this wallet, click on 'Copy Address' or right-click on the full address and click copy to grab this address to your clipboard.
Now head back to UpHold, go to the Transact screen and click on BTC on the "From" field, choose the amount you wan to send and on the "To" field choose BTC under "Crypto Network", then click "Preview withdraw".
On the next screen, paste the wallet address from your clipboard, for security consideration you should always check if both addresses are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.
After reviewing, click 'Confirm' to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to KuCoin!
Now go back to KuCoin and head to your exchange wallets, don't worry if you haven't seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Bitcoin network, during busy times it may take even longer.
You should receive a confirmation notification from KuCoin once your BTC has arrived. And you are now finally ready to purchase FTT!
Step 5: Trade FTT
Go back to KuCoin, then go to 'Exchange'. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let's get our heads around this.
In the right column there is a search bar, now make sure "BTC" is selected as we are trading BTC to altcoin pair. Click on it and type in "FTT", you should see FTT/BTC, select that pair and you should see a price chart of FTT/BTC in the middle of the page.
Below there is a box with a green button that says "Buy FTT", inside of the box, choose the "Market" tab here as that is the most straight-forward type of buying orders. You can either type in your amount or choose what portion of your deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click "Buy FTT". Voila! You have finally bought FTT!
But we are not done yet, since FTT is an altcoin we need to transfer our BTC to an exchange that FTT can be traded, here we will use Binance as our exchange. Binance is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world. Unfortunately, Binance does not allow US investors so we recommend you to sign up on other exchanges we recommend on this page.
After going through a similar process as we've done before with UpHold, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.
Step 4: Deposit BTC to exchange
Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you're done with it you should have full access to your exchange wallet.
If this is your first time making a crypto deposit, the screen here may look a bit scary. But don't worry, it's basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying 'BTC address', this is a unique public address of your BTC wallet at Binance and you can receive BTC by giving this address to the person to send you the funds. Since we are now transferring our previously bought BTC on UpHold to this wallet, click on 'Copy Address' or right-click on the full address and click copy to grab this address to your clipboard.
Now head back to UpHold, go to the Transact screen and click on BTC on the "From" field, choose the amount you wan to send and on the "To" field choose BTC under "Crypto Network", then click "Preview withdraw".
On the next screen, paste the wallet address from your clipboard, for security consideration you should always check if both addresses are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.
After reviewing, click 'Confirm' to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to Binance!
Now go back to Binance and head to your exchange wallets, don't worry if you haven't seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Bitcoin network, during busy times it may take even longer.
You should receive a confirmation notification from Binance once your BTC has arrived. And you are now finally ready to purchase FTT!
Step 5: Trade FTT
Go back to Binance, then go to 'Exchange'. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let's get our heads around this.
In the right column there is a search bar, now make sure "BTC" is selected as we are trading BTC to altcoin pair. Click on it and type in "FTT", you should see FTT/BTC, select that pair and you should see a price chart of FTT/BTC in the middle of the page.
Below there is a box with a green button that says "Buy FTT", inside of the box, choose the "Market" tab here as that is the most straight-forward type of buying orders. You can either type in your amount or choose what portion of your deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click "Buy FTT". Voila! You have finally bought FTT!
But we are not done yet, since FTT is an altcoin we need to transfer our BTC to an exchange that FTT can be traded, here we will use Poloniex as our exchange. Poloniex is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.
Poloniex is a centralized cryptocurrency exchange for both experienced and amateur cryptocurrency traders. It offers a range of crypto markets, advanced trade types, as well as margin trading and crypto lending, which makes it a convenient place for traders from all walks of life. Poloniex is a good and very popular exchange that offers very low trading fees, good customer support, easy registration process, multiple cryptocurrencies, and has other amazing features. As Poloniex is a US cryptocurrency exchange, US-investors may of course trade there. But US-investors should in any event do their own independent assessment of any problems arising from their state residency. In particular, investors from the state of New York are often restricted from trading at many cryptocurrency exchanges.
After going through a similar process as we've done before with UpHold, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.
Step 4: Deposit BTC to exchange
Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you're done with it you should have full access to your exchange wallet.
If this is your first time making a crypto deposit, the screen here may look a bit scary. But don't worry, it's basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying 'BTC address', this is a unique public address of your BTC wallet at Poloniex and you can receive BTC by giving this address to the person to send you the funds. Since we are now transferring our previously bought BTC on UpHold to this wallet, click on 'Copy Address' or right-click on the full address and click copy to grab this address to your clipboard.
Now head back to UpHold, go to the Transact screen and click on BTC on the "From" field, choose the amount you wan to send and on the "To" field choose BTC under "Crypto Network", then click "Preview withdraw".
On the next screen, paste the wallet address from your clipboard, for security consideration you should always check if both addresses are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.
After reviewing, click 'Confirm' to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to Poloniex!
Now go back to Poloniex and head to your exchange wallets, don't worry if you haven't seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Bitcoin network, during busy times it may take even longer.
You should receive a confirmation notification from Poloniex once your BTC has arrived. And you are now finally ready to purchase FTT!
Step 5: Trade FTT
Go back to Poloniex, then go to 'Exchange'. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let's get our heads around this.
In the right column there is a search bar, now make sure "BTC" is selected as we are trading BTC to altcoin pair. Click on it and type in "FTT", you should see FTT/BTC, select that pair and you should see a price chart of FTT/BTC in the middle of the page.
Below there is a box with a green button that says "Buy FTT", inside of the box, choose the "Market" tab here as that is the most straight-forward type of buying orders. You can either type in your amount or choose what portion of your deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click "Buy FTT". Voila! You have finally bought FTT!
But we are not done yet, since FTT is an altcoin we need to transfer our BTC to an exchange that FTT can be traded, here we will use ProBit as our exchange. ProBit is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.
ProBit is a cryptocurrency exchange incorporated in Seychelles (ProBit Global) and South Korea (ProBit Korea) and accepting traders from all over the world. The exchange offers a wide selection of altcoins, DeFi tokens, staking events, low-fee trading and other popular crypto services that are accessible via quick and straightforward email registration. Korean users can participate in fiat trading too, though the platform supports South Korean Won (KRW) trading only. Besides, all fiat traders must verify their identity; however, that is not a requirement for international crypto-to-crypto traders. Overall, the platform has a great design, laudable security measures, and a professional team, that makes it one of the better altcoin exchanges worldwide.We have been unable to find any information that US investors should not trade on this trading platform. However, if you are a US investor, you should still always analyze whether your home state is impeding your foreign crypto trade. Sometimes the exchange has opened its doors despite your home state prohibiting you from trading.
After going through a similar process as we've done before with UpHold, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.
Step 4: Deposit BTC to exchange
Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you're done with it you should have full access to your exchange wallet.
If this is your first time making a crypto deposit, the screen here may look a bit scary. But don't worry, it's basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying 'BTC address', this is a unique public address of your BTC wallet at ProBit and you can receive BTC by giving this address to the person to send you the funds. Since we are now transferring our previously bought BTC on UpHold to this wallet, click on 'Copy Address' or right-click on the full address and click copy to grab this address to your clipboard.
Now head back to UpHold, go to the Transact screen and click on BTC on the "From" field, choose the amount you wan to send and on the "To" field choose BTC under "Crypto Network", then click "Preview withdraw".
On the next screen, paste the wallet address from your clipboard, for security consideration you should always check if both addresses are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.
After reviewing, click 'Confirm' to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to ProBit!
Now go back to ProBit and head to your exchange wallets, don't worry if you haven't seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Bitcoin network, during busy times it may take even longer.
You should receive a confirmation notification from ProBit once your BTC has arrived. And you are now finally ready to purchase FTT!
Step 5: Trade FTT
Go back to ProBit, then go to 'Exchange'. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let's get our heads around this.
In the right column there is a search bar, now make sure "BTC" is selected as we are trading BTC to altcoin pair. Click on it and type in "FTT", you should see FTT/BTC, select that pair and you should see a price chart of FTT/BTC in the middle of the page.
Below there is a box with a green button that says "Buy FTT", inside of the box, choose the "Market" tab here as that is the most straight-forward type of buying orders. You can either type in your amount or choose what portion of your deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click "Buy FTT". Voila! You have finally bought FTT!
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once FTT gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
BitMart
BitMart is a crypto exchange from the Cayman Islands. It became available to the public in March 2018. BitMart has a truly impressive liquidity. At the time of the last update of this review (20 March 2020, right in the middle of the crisis with COVID-19), BitMart’s 24 hour trading volume was USD 1.8 billion. This amount placed BitMart on place no. 24 on Coinmarketcap’s the list of exchanges with the highest 24 hour trading volumes. Needless to say, if you start trading here, you will not have to worry about the order book being thin. Many exchanges does not allow investors from USA as customers. As far as we can tell, BitMart is not one of those exchanges. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Huobi
Huobi is originally a Chinese crypto exchange. From what it seems, it has now registered in the Seychelles. This exchange is one of the six exchanges from the Seychelles. The liquidity at Huobi is impressive. The liquidity, together with its customer support that is open 24 hours a day 365 days a year and good security. If you sign up to Huobi using our link below, you will receive a series of welcome bonuses, as follows: 1. USDT 10 when you have registered and verified your profile, 2. USDT 50 when you have deposited/bought 100 USDT worth of tokens via Huobi OTC, and 3. A chance of up to USDT 60 when you have completed a minimum of 100 USDT worth of crypto-to-crypto trading. Huobi does not allow US-investors on its exchange.
Last Step: Store FTT securely in hardware wallets
Ledger Nano S
- Easy to set up and friendly interface
- Can be used on desktops and laptops
- Lightweight and Portable
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
Ledger Nano X
- More powerful secure element chip (ST33) than Ledger Nano S
- Can be used on desktop or laptop, or even smartphone and tablet through Bluetooth integration
- Lightweight and Portable with built-in rechargeable battery
- Larger screen
- More storage space than Ledger Nano S
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
If you are planning to keep("hodl" as some may say, basically misspelt "hold" which get popularised over time) your FTT for a considerable long time, you may want to explore ways of keeping it safe, although Binance is one of the safest cryptocurrency exchange there had been hacking incidents and funds were lost. Because of the very nature of the wallets in exchanges, they will be always online("Hot Wallets" as we call them), therefore exposing certain aspects of vulnerabilities. The safest way of storing your coins to date is always putting them into a type of "Cold Wallets", where the wallet will only have access to the blockchain(or simply "go online") when you send out funds, reducing the chances of hacking incidents. A paper wallet is a type of free cold wallet, it's basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards.
Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger Nano S and Ledger Nano X and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion.
Other useful tools for trading FTT
Encrypted Secure Connection
NordVPN
Because of the very nature of cryptocurrency – decentralised, it means that users are 100% responsible for handling their assets securely. While using hardware wallet allows you to store your cryptos in a safe place, using an encrypted VPN connection while you trade makes it harder for hackers to intercept or eavesdrop your sensitive information. Especially when you are trading on the go or in a public Wifi connection. NordVPN is one of the best paid (note: never use any free VPN services as they may sniff your data in return of free service) VPN services out there and it has been around for almost a decade. It offers military-grade encrypted connection and you can also opt-in to block malicious websites and ads with their CyberSec feature. You can choose to connect to 5000+ servers in 60+ countries base on your current location, which ensures you to always have a smooth and secure connection wherever you are. There is no bandwidth or data limits that means you can also use the service in your everyday routines such as streaming videos or downloading large files. Plus it is among the cheapest VPN services out there (only $3.49 per month).
Surfshark
Surfshark is a much cheaper alternative if you are looking for a secure VPN connection. Although it’s a relatively new company, it has already 3200+ servers distributed in 65 countries. Apart from VPN it also has some other cool features including CleanWeb™, which actively blocks ads, trackers, malware and phishing attempts while you are surfing on your browser. Currently, Surfshark does not have any device limit so you can basically use it on as many devices as you want and even share the service with your friends and family. Use the signup link below to get an 81% discount(that’s a lot!!) at $2.49/month!
Atlas VPN
IT nomads created Atlas VPN after seeing a lack of top-notch service within the free VPNs field. Atlas VPN was designed for everyone to have free access to unrestricted content without any strings attached. Atlas VPN set out to be the first trustworthy free VPN armed with top-notch technology. Furthermore, even though Atlas VPN is the new kid on the block, their blog team’s reports have been covered by well-known outlets such as Forbes, Fox News, Washington Post, TechRadar and many others. Below are some of the feature highlights:
- Strong encryption
- Tracker blocker feature blocks dangerous websites, stops third-party cookies from tracking your browsing habits and prevents behavioural advertising.
- Data Breach Monitor finds out whether your personal data is safe.
- SafeSwap servers allow you to have many rotating IP addresses by connecting to a single server
- Best prices on the VPN market (only $1.39/month!!)
- No-log policy to keep your privacy safe
- Automatic Kill Switch to block your device or apps from accessing the internet if the connection fails
- Unlimited simultaneous connections.
- P2P support
Frequently Asked Questions
Can I buy FTT with cash?
There is no direct way to buy FTT with cash. However, you can use marketplaces such as LocalBitcoins to first purchase BTC, and finish the rest of the steps by transferring your BTC to respective AltCoin exchanges.
LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. is after all a good place to go to buy Bitcoins when you can't find your desired payment methods anywhere else. But prices are usually higher on this platform and you have to do your due diligence to avoid getting scammed.
Are there any quick ways to buy FTT in Europe?
Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Uphold.
Are there any alternative platforms to buy FTT or Bitcoin with credit cards?
Yes. is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.
Read more on FTX Token's fundamentals and current price here.
FTT Price Prediction and Price Movement
We have seen some downward price movements over the past three months as FTT has dropped 41.06 percent. Though with its relatively large market capitalization, FTT maybe in the middle of a long price consolidation phase, in the case of a strong fundamentals, it would be likely that FTT may bounce back heavily and continue its next phase of upward movement. Therefore traders should spend some extra effort in researching FTT's fundamentals and still be cautious while trading this coin.
Please note that this analysis is purely base on FTT's historic price actions and is by no means financial advice. Traders should always do their own research and be extra careful while investing in cryptocurrencies.