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.
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.
- FTX Token is the utility token of the FTX ecosystem. FTX is a crypto-derivatives exchange built by Alameda Research, a cryptocurrency liquidity provider.
- FTX serves different functions in the FTX ecosystem. The most prominent ones are lower trading fees on the FTX exchange, various OTC discounts for token-holders, and its eligibility as collateral for derivatives trading.
- FTT token-holders can receive socialized gains from FTX’s insurance fund, which is governed with a clear policy to prevent any sort of perpetual growth.
- Similar to BNB, FTX’s supply is also reduced gradually via a weekly repurchase and burning mechanism funded from the fees collected by the exchange.
How To Buy FTX Token (FTT)
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy FTX Token question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy FTT coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a FTX Token (FTT)
FTX Token (FTT) prices are updated instantly in USD, Euro, Sterling currencies in the following table.
FTX Token (FTT) Review
You can learn more about FTX Token (FTT) reviews and information on cryptocurrencies by visiting their official page available in the following.
Website
https://ftx.com/
Github
https://github.com/ftexchange
Documentation
https://help.ftx.com/hc/tr
Telegram
https://t.me/FTX_Official
