How to Buy FTX Token (FTT) in 2021: A Simple Guide

FTX Token (FTT)In this guide you’ll get information about where to buy FTX Token, if you are planning to buy FTT token – You’re in the right place!

FTX token is issued by FTX Exchange to fuel its ecosystem and provide utility for the exchange operation. The exchange was launched in the second quarter of 2019 with the objective of being a derivative exchange that enables traders to enter cryptocurrency markets using FTTs. FTX Exchange has also grown to provide a splendid array of other derivative digital assets.

The founders of the exchange created the exchange as they attempted to avoid contractual provisions in cryptocurrency exchanges. In order to reach the goal, they use rate-limited orders to close positions through a three-tier liquidation and benefit from an insurance fund which prevents customer losses. In addition, collateral across the tokens is shared in one universal stablecoin wallet. This model allows traders to leverage their capital and open short positions seamlessly.

FTX Token (FTT) Features

  • Futures Contracts. This features allows users to trade their cryptocurrencies without the necessity to hold the underlying digital coins. When users want to trade Bitcoin futures, for example, they will not purchase any BTC. What they need to do is only trading a futures contracts to track the BTC value. This gives them the opportunity to speculate on the price of the cryptocurrency in the future even without holding it.
  • BTC Options. This feature enables users to sell or buy the digital coins at a price and date predefined in advanced. Almost similar to futures, users also have options in using leverage so they can decide to go long or short. The contract is settled to a certain price whenever it expires.
  • MOVE Contracts. In order to track the volatility of a cryptocurrency, FTX uses MOVE contracts. With these contracts, users can take advantage of the price volatility regardless of whether it goes up or down.
  • Leverage Tokens. FTX has created a set of innovative ERC-r0 tokens to resolve the issue regarding a complex trading approach of leveraged positions.

Where to Buy, Sell and Trade FTX Token aka FTT

You can basically use debit card, credit card, or even PayPal to buy the FTX Token (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the FTX Token as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to FTX Token. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.

In general, the process would be:

  1. You go to the online exchange and buy the Ethereum or Bitcoin
  2. Find a crypto exchange that supports FTX Token currency and exchange your Ethereum or Bitcoin with the FTX Token
  3. Store your FTX Token to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase

There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

Get $10 Bonus when you sign up for Coinbase!

coinbaseClick here to register (opens in new tab)

  • You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
  • Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
  • You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.

That’s the first step in buying FTX Token, once you get your Bitcoin or Ethereum, you can continue to the next step.

Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments

After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.

With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.

These are the best exchanges we can recommend for you to exchange BTC or ETH with FTX Token:

BINANCE
binanceBinance is  the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now. Binance.com is unable to provide services to U.S. citizens or residents.

  • Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
  • Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
  • Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 345+ more
  • Trading Pairs: 1189+
GATE.io
gate.ioGate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions. Gate.io crypto exchange allows users in 49 states within the US to trade the spot crypto market except for Washington State and New York State.

  • Deposit Methods: Cryptocurrency Only
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 565+ more
  • Trading Pairs: 1118+

IMPORTANT! Once you are registered to any of the above, find the BTC/FTT or ETH/FTT trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.

Step 3: Managing Your Crypto Assets in a Secure Wallet

As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.

You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.

There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.

For Securing your FTX Token (FTT) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

TREZOR MODEL-T

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

Frequently Asked Questions (Faqs)

Can I Buy FTX Token (FTT) with PayPal?

You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the FTX Token. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy FTX Token (FTT) with Cash?

You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:

  • Make sure you have a BTC / ETH wallet before you buy from seller
  • Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.

Can I Buy FTX Token (FTT) with Skrill?

You can’t buy FTT directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to FTX Token. You can buy BTC/ETH with skrill by using these exchanges::

Can I Buy FTX Token (FTT) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/FTT and begin the transactions.

Can I Buy FTX Token (FTT) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/FTT trading pair.

What Is the Best Payment Method to Buy FTX Token (FTT)?

The cheapest way is to use bank account to buy Bitcoins first or to buy the FTX Token right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect FTX Token (FTT)?

Once you have purchased the FTX Token, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

ledger nano x

Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

How to Sell FTX Token (FTT)?

Find a crypto exchange which allow pairing FTT with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine FTX Token (FTT) and Not Buying It?

You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a FTX Token is to buy it from a reliable exchange.

Conclusion

FTX keeps evolving rapidly as the platform is continuously adding more innovative features and products. There is no doubt that the exchange has already got a good reputation in the cryptocurrency derivative landscape. FTX is definitely worth considering for anyone looking for liquidity and innovative ecosystem. Eventually, the demand for FTT will be getting higher in the future. This can increase the potential for the FTT token to be a passive income source for investors.

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