Many crypto enthusiasts consider Fantom to be a promising coin whose price has not yet reached its maximum. The Fantom is a high-performance blockchain platform that provides functionality for working with smart contracts and creating decentralized applications. FTM is the main token of the ecosystem, it is used to protect the network through staking, sending payments, paying transaction fees, and decentralized governance. The token has increased in price by 13,000% in 2021, which characterizes the market’s need for effective scaling solutions. Unlike some competitors, Fantom supports smart contract functionality from the very beginning. The editors of Profinvestment.com will tell you how to buy or sell Fantom (FTM), which platforms can be used for this purpose.
Should you buy FTM cryptocurrency in 2024?
The project ecosystem is growing rapidly. Dozens of decentralized applications are being created based on the network, and its compatibility with Ethereum provides the prerequisites for further growth in the rate of the native digital currency. Many crypto enthusiasts call the launch of their own virtual machine as another step towards a price jump.
Where to buy or sell FTM?
Centralized Crypto Exchanges
Cryptocurrency exchanges, operating centrally, store user assets themselves and are responsible for conducting transactions. Recently, as a rule, such sites are strictly regulated: the exchange collects information about each user and monitors suspicious transactions – all these measures are aimed at combating money laundering and are practiced all over the world.
However, centralized exchanges with Fantom are easy to use, have a clear interface even for a beginner, and provide extensive trading and investment functionality. Examples of such platforms that include the FTM token in their listing: Binance, Bybit, OKX, Huobi, MEXC, Bitrue, Kucoin, FTX, Gate.io, Bitfinex, Bibox
It depends on the functionality of a particular exchange, a token can be bought or sold in different ways: through a trading terminal by creating an order, on a p2p platform with payment directly from user to user, directly from a bank card, etc. Identity verification that is often required includes verification of passport data, real name and surname, residential address, and contact information.
New traders tend to use these options because they provide:
1) Customer support
2) The ability to redress hacks and errors.
3) A level of investor protection that decentralized exchanges simply cannot secure.
Decentralized Exchanges
As for decentralized crypto exchanges (DEX), they do not support traditional assets. But they support any tokens located on the same blockchain as the protocol, and also do not require verification, allowing you to work completely anonymously. Examples of DEX with FTM: Uniswap, Sushiswap, ApeSwap, and SpookySwap.
The Fantom token runs on its own blockchain and on the Ethereum and Binance Smart Chain blockchains. Uniswap and Sushiswap exchanges work with ERC-20 tokens (Ethereum network), and ApeSwap works with BEP-20 tokens (BSC). Decentralized protocols allow you to connect to them using web3 wallets, and then exchange assets within trading pools. One can also earn passive income by supplying liquidity to these pools. Liquidity providers make a profit on every trade executed within the pool where their funds are located.
At The End
The fact that in the near future the cryptocurrency Fantom or FTM, will continue to grow is beyond doubt and debate. However, the question of how to buy and sell is very common. Let’s figure out which platforms you can use to trade this promising currency.
The key feature of Fantom is that it can process over 300,000 transactions per second (TPS). For comparison, this indicator in the Bitcoin network is 7, and in Ethereum it is 20-30. In terms of the number of TPS, Fantom is even ahead of Visa. This makes it the fastest blockchain on the market.
