Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has FTX Token, and is trustworthy!
You can find our top 3 exchanges for buying FTX Token here, alternatively you can also check our comparison of the best crypto trading platforms 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 FTX Token
And of course, the final step is to find FTX Token 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 FTX Token (FTT)
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How to Sell FTX Token
- Sign into the exchange
- Find where you stored your FTX Token, either on a hardware wallet or on the exchange.
- Transfer your FTX Token to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell FTX Token.
Considerations when looking to buy FTX Token.
FTT is the native cryptocurrency token for the crypto derivatives trading platform FTX, which was launched on May 8, 2019.
FTX is a team of some of the most prominent crypto traders who have been working together for the past few years. They were frustrated by the lackluster performance of many mainstream crypto futures exchanges and decided to create their own platform. FTX claims it is unique because of features such as clawback protection, a centralized collateral pool, and universal stablecoin settlement.
Socialized losses have claimed a large portion of customer funds from other derivative exchanges to prevent clawback. FTX reduces this through a three-tiered liquidation process.
The collateral on existing crypto futures exchanges is split across multiple token wallets. This can make it difficult for traders to liquidate positions and prevents them from being liquidated. FTX derivatives, on the other hand are stablecoin-settled. They only require one universal margin wallet.
Leveraged tokens are another feature of FTT. They allow traders to place leveraged positions without needing to trade on margin. A trader can short Bitcoin using 3x leverage by purchasing a 3x short Bitcoin leveraged token on FTX. These tokens can be listed on any spot market and are ERC20 compatible. Currently, FTX offers XRP and BNB, TRX, BTC. TRX, BTC. ETH, EOS. USDT, LEO leveraged tokens.
Almeda Research is backing FTX, which is a well-known company in crypto trading and one the largest liquidity providers.
FTX was designed by industry professionals who have demonstrated expertise in the field. They offer a range of services, including collateral, maintenance margin, liquidation processes, and product listing. FTX claims that they are focused on rapid development, allowing them the ability to implement crypto trading systems at a fast pace.