How to Buy Fantom (FTM) in Australia

1. Choose a crypto exchange

First things first, you need an exchange that both has Fantom, and is trustworthy!

You can find our top 3 exchanges for buying Fantom here, alternatively you can also check our comparison of the best cryptocurrency exchanges in Australia if you’re generally interested in seeing which exchanges work for Australians.

2. Sign up with the crypto exchange

Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.

3. Fund your account

The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.

4. Buy Fantom

And of course, the final step is to find Fantom on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.

Where to Buy Fantom (FTM)

ExchangeRatingAvailable CryptocurrenciesFeesVisit Site
Swyftx Logo5/5350+0.6%VISIT SITE
Binance Logo4.5/5300+0.1%VISIT SITE
Digital Surge Logo4/5200+VariesVISIT SITE

How to Sell Fantom

  1. Sign into the exchange
  2. Find where you stored your Fantom, either on a hardware wallet or on the exchange.
  3. Transfer your Fantom to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
  4. Sell Fantom.
Businessman looking at crypto trend

Considerations when looking to buy Fantom.

Fantom, a directed acyclicgraph (DAG), smart contract platform that provides decentralized finance (DeFi), services to developers through its own consensus algorithm.

Fantom, together with FTM, its in-house token, aims to address problems associated smart-contract platforms. This includes transaction speed. Developers claim they have reduced it to less than two seconds.

The Fantom Foundation oversees all aspects of the Fantom product line. It was established in 2018 with the launch OPERA, Fantom’s mainnet, in December 2019.

Fantom, an open-source, decentralized smart contract platform that allows DApps and digital assets to be created. It was developed as an alternative for Ethereum. Fantom aims to overcome the limitations of older generation blockchains while balancing three elements: security, scalability and decentralization. This project provides a range of tools that simplify the integration of existing DApps. It also includes a detailed staking reward system, and built-in DeFi instrument.

Fantom, a Layer-1 Blockchain, uses a built consensus mechanism and an independent consensus layer, Lachesis to facilitate DeFi and other services based on smart contracts. Lachesis also provides security for other layers, such as Opera, Fantom’s EVM-compatible smart contracts chain. "Grant compatibility between all transaction body around the globe" is the long-term goal of the project.

Fantom's main strengths are its speed and efficiency in transaction processing. Transactions can be settled in as little as 1-2 seconds and cost less than a penny per transaction. Fantom offers greater scalability at a lower price.

Fantom tries to create a consensus mechanism from scratch to facilitate DeFi and related services based on smart contracts.

Lachesis promises a much greater capacity and two-second transaction completion, as well as security improvements over traditional proof-of stake (PoS), algorithm-based platforms.

The project is similar to Ethereum and appeals to developers who want to deploy decentralized solutions. Its official literature states that its mission is "to grant compatibility between all transaction entities around the globe."

FTM, the in-house PoS token of FTM, is the backbone for transactions and allows fees collection and staking activities. The latter also provides user rewards.

Fantom raised nearly $40 million through token sales in 2018 to finance its development.