How to Buy Fantom FTM in 3 Simple Steps
Both of these approaches have the potential to generate profits, so it is simply a matter of choice which you opt for. If you want to buy FTM, you will need to start by finding a suitable crypto exchange. Consider aspects such as safety and how easy the platform is to use when making your choice. Check the next section for recommendations or select from our top recommendations below. This guide will explain how to buy Fantom’s native FTM token and explore why the project shows promise.
However, it’s pretty simple to get acclimated to the steps of the process. The average user finds using the Ethereum protocol problematic due to its exorbitant fees and slow transactions. Fantom has given DeFi users and developers an alternative with its high scalability and low costs. The Fantom protocol has been quietly gaining market share and continues to expand its reach within the crypto space. As of September, the combined total value locked (TVL) in the Fantom DeFi protocols has skyrocketed above $800 million and may be on pace to reach billions soon. You can buy Fantom with a credit card on the crypto exchange BYDFi through a third-party service provider.
How and Where to Buy Fantom (FTM)
The first thing you can do is to buy Bitcoins or Ethereum with your credit card from a Fantom (FTM) exchange. If you are unsure you should get independent advice before you apply for any product or commit to any plan. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current. Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site.
Founded by Dr. Ahn Byung Ik, Fantom launched in late 2018 as an alternative to the existing blockchains struggling to scale. The Fantom team boasts some of the most distinguished minds in cryptography. The FTM token has multiplied over 20 times its 2018 initial coin offering price of $0.04. Prominent crypto venture capital firms like Alameda Research and Arrington XRP Capital are backing the Fantom blockchain to become a leader in the DeFi space.
How to Buy Fantom (FTM) in 2023: A Simple Guide
As the digital age progresses, more components of our lives will be moved to the digital space. Crypto technology mathematically safeguards digital assets and places ownership with users, making it crucial for a free digital future. You’ll receive an email verification link when you create an account. Complete your profile by submitting details like your date of birth and a passport photo, after which you submit KYC documents. These documents include proof of ID (National ID or driver’s licence) and proof of residence (utility bill).
You can purchase Fantom (FTM) tokens on several cryptocurrency exchanges. Visit the market page on CoinStats to view the exchange platforms supporting Fantom. Also, consider whether the cryptocurrency exchange is regulated by the Financial Industry Regulatory Authority (FINRA) and allows you to buy Fantom using your preferred payment method. Hardware or cold wallets are usually considered the safest way to store your cryptocurrencies as they offer offline storage, thereby significantly reducing the risks of a hack. They are secured by a pin and will erase all information after many failed attempts, preventing physical theft.
Step #3: Deposit Funds
This wallet is free of cost and has a 3-star rating if, in case it’s difficult for you to carry a hardware wallet, you can simply go for Coinomi. Keepkey is a hardware wallet with the utmost security and supports ERC20 and multiple coins. This is an excellent option to go https://www.tokenexus.com/ for, but Trezor and Ledger are better in terms of expense and security. It costs around $65, supports ERC20 and multiple coins, and has fantastic reviews – this is the best option to go for. Binance allows you to purchase coins directly with Euros, Dollars, and Rubbles.
You should accurately report your crypto profits and losses on your tax return, even if you make less than the tax-free threshold, if you want to avoid a penalty. For more advice on calculating your taxes, check out our Crypto Tax UK Guide. Long-term investors, on the other hand, may not be too bothered by short-term fluctuations as price historicals show an overall uptrend with pocket downtrend periods.
Physical and Hardware Wallets
Lastly, the app warns you that no Trust Wallet support team member will ever reach out to ask for your secret phrase. This helps you to be aware how to buy ftm of possible scammers and keep your coins safe. You will need to click on each statement before proceeding to your secret phase screen.
- If you make payment through the bank account transfers, it can take up to 7 days to receive your coins, but it will surely be cheaper than your card purchase.
- After adding BTC to your wallet, go to FTM/BTC trading pair and trade Bitcoin for Fantom.
- Examples of cold wallets are Trezor Model T, Ledger Nano X, CoolWallet Pro, KeepKey, Ellipal Titan, and SafePal S1, amongst others.
- Best crypto to buy now’ is one of the most searched cryptocurrency-related terms in Google, and each day InsideBitcoins lists some options.
- You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE.
- Fantom (FTM) is accessible on Binance in ten different trading pairs.
- Through the emergence of DeFi, cryptocurrency holders can now earn a yield on their holdings that surpasses what they would gain from a bank-based savings account.