How To Buy Fantom (FTM) — Quick Guide
Here’s an overview of the preferred crypto exchanges that have Fantom (FTM) listed. If you know how to buy cryptocurrencies, you can simply select your preferred exchange. In case you are just getting started, you can scroll down to where we share all details about how to buy Fantom (FTM).
Binance
Binance is the biggest cryptocurrency exchange offering many features and advantages.
MEXC
MEXC is an industry-leading exchange that offers the lowest fees to buy and sell cryptocurrencies.
BYBIT
BYBIT is a leading crypto exchange that offers many features regarding leverage trading.
KuCoin
KuCoin is a leading exchange that offers more than 750 cryptocurrencies — more than any other.
OKX
OKX is the all-rounder that offers a good mix of tradable crypto tokens, usability, and trading fees.
Before we dive into the details about how to buy Fantom (FTM) we want to provide you with some essentials about the FTM token. Remember, it is essential to understand the asset you’re planning to buy before you invest!
What is Fantom (FTM)?
Basic Information & History
Fantom (FTM) is a high-performance, scalable, and secure smart-contract platform. It is designed to overcome the limitations of previous-generation blockchain platforms. Fantom is permissionless, decentralized, and open-source.
Fantom aims to be the nervous system for smart cities and also the platform of choice for decentralized finance applications. It leverages its unique Lachesis Protocol to deliver high-speed, low-cost transactions.
Fantom’s native token, FTM, is used for securing the network, enabling staking, and providing for transaction costs. The FTM token is integral to maintaining the network’s consensus algorithm.
Fantom Use Cases
Fantom is designed to serve a wide array of use cases due to its high scalability, speed, and low-cost transactions. Here are some notable use cases:
Decentralized Finance (DeFi)
Fantom’s platform is suitable for creating decentralized exchanges, lending and borrowing platforms, stablecoins, yield farming, and more. Its low transaction fees and high speed make it an attractive blockchain for DeFi applications.
Smart Cities
Fantom aims to provide a framework for different smart city applications, such as traffic flow optimization, public utility distribution, resource management, and environmental sustainability projects.
Supply Chain
Fantom can be used for creating decentralized and transparent supply chain systems. It allows real-time tracking and tracing of goods and materials, which can significantly enhance the efficiency of supply chain management.
Digital Identity
The platform can be used to create secure, immutable digital identities, enhancing security and personal privacy in digital interactions.
Healthcare
Fantom can be used to improve and streamline various aspects of healthcare systems, such as patient data management, drug supply chain, medical research, and more.
Education
In the education sector, Fantom can help to create transparent and immutable record-keeping systems, allowing for the verification of educational credentials, tracking of student progress, etc.
Fantom Price Chart
Analyzing the current price movement is an important step before investing. Therefore, you should pay close attention to the below chart before discovering everything about how to buy Fantom.
How To Buy Fantom (FTM) — A Step-By-Step Guide
How To Buy Fantom (FTM) — Step 1: Sign Up For An Account
The first step in buying a cryptocurrency token is to sign up for an account on a cryptocurrency exchange.
There are dozens of changes available, but it’s important to research and choose one that meets your needs in terms of security, features, and trading possibilities.
However, more importantly, you have to check if the cryptocurrency has the Fantom token listed. Bear in mind that not every exchange has listed every coin.
In terms of Fantom, you can select one of the exchanges we listed at the beginning of the post, such as Binance, MEXC, or KuCoin.
How To Buy Fantom (FTM) — Step 2: Secure Your Account
After you’ve created your account, it’s crucial to secure it. This generally involves setting up two-factor authentication (2FA). 2FA requires a second form of identification beyond just your password, such as a code sent to your phone. This greatly enhances the security of your account. It’s also important to choose a strong, unique password.
Although this step is optional at some exchanges, we highly recommend it. Major exchanges like Binance, MEXC, or KuCoin won’t allow you to trade before your account is secured.
How To Buy Fantom (FTM) — Step 3: Verify Your Account (Partially Optional)
Before you can start trading, you’ll usually need to verify your account. This process varies by exchange but typically involves submitting some form of identification like a driver’s license or passport. This is part of the Know Your Customer (KYC) regulations that exchanges must comply with.
However, there are also crypto exchanges where you don’t have to verify your account. This usually comes with some limitations in terms of payouts and features. Nevertheless, if you want to stay anonymous or want to give it a first try, this might be the better option. We put together a list of exchanges that don’t require verification. You can check this here: 4 Best Crypto Exchanges Without KYC (2023)
How To Buy Fantom (FTM) — Step 4: Add A Payment Method And Funds
Once your account is verified, you can add a payment method. Depending on the exchange, this could be a bank account, a debit card, or credit card. Some exchanges also support PayPal and other online payment services.
After adding a payment method, you can add funds to your account. Make sure to deposit enough to cover the cost of the token you want to buy and any associated fees.
How To Buy Fantom (FTM) — Step 5: Buy Arbitrum
Finally, we made it. You are now ready to buy Fantom (FTM). Depending on the exchange you’ve chosen, you have to navigate to the “Market” or “Trade” area.
You can typically choose between a market order (buy at the current market price) or a limit order (buy at a specific price or better). Once your order is executed, the tokens will be added to your account, and you can call yourself a proud owner of the Fantom (FTM) token.
