how to buy fantom

Fantom (FTM) is a smart contract platform based on acrylic-graph ledgers for achieving consensus. Developers who want to build apps quickly can always rely on the features of the Fantom network. Due to the potential of Fantom, many users have started asking questions like “how to buy Fantom (FTM) and “where to buy Fantom.”

Do you want to buy FTM and be part of Fantom ecosystem? In that case, you should read this article thoroughly. We’ll cover the fundamental steps of buying FTM, as well as some essential topics about the token.

Fantom (FTM) Buying Guide

Step 1: Find An Exchange That Supports FTM

To start buying FTM, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support FTM.

Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.

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  • 300+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.020%*-0.070%*
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  • Available in Europe, Asia, Oceania, Africa
  • 1500+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.2%*-0.2%*
  • 10% reduced trading fees & up to $170 in USDT vouchers*
  • Available in North America, South America, Europe, Asia, Oceania, Africa

Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification. 

You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.

Step 2: Deposit Funds to Your Exchange Account

Before buying FTM, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.

Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.

Step 3: How to Buy FTM Officially?

Learning how to buy FTM is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the FTM ticker. You can also look directly for FTM trading pairs to save time. Afterwards, just enter the amount of the FTM tokens that you want to buy.

You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.

Everything You Have to Know About Fantom (FTM)

Fantom (FTM) is a useful programmable platform that allows the seamless creation of functional smart contracts. Fantom’s smart contracts were made possible by the asynchronous Byzantine Fault Tolerance (aBFT) consensus mechanism called Lachesis. A smart contract deployed through Lachesis is faster, more convenient, and definitely more scalable.

These are some of the most useful features of Fantom:

  • Asynchronous BFT Protocol – Fantom’s aBFT consensus protocol is a fast and efficient mechanism that works with the Ethereum Virtual Machine (EVM).
  • Fantom Wallet – A useful wallet that can be used by crypto users and token holders.
  • ONLAY Protocol – This protocol uses block leveraging to determine the proper amount of nodes needed for consensus. ONLAY also relies on the framework of Lachesis.
  • Organized Finality – The sequential steps needed for a transaction are clear and accurate, achieving less-than-a-second finality.
  • FTM staking – Investors and token holders can stake FTM to support the network and earn rewards over time.  

The Fantom platform is currently being used by different projects like SpookySwap, SushiSwap, CurveDAO, Matcha, Dark Knight, Firebird, Morpheus Swap, and ShibaSwap. While most of the projects under Fantom are related to finance and liquidity, some decentralized apps have other useful blockchain functionalities as well.

How Does FTM Work?

FTM, the native token of Fantom, is primarily used for network fees, staking, governance, and service payments. The FTM token’s value is distributed among seed sales, private token sales, public sales, token reserve, and block rewards. The Fantom Core Team is also eligible for up to 7% of the FTM total market supply.

What Makes Fantom (FTM) Unique?

Fantom (FTM) aims to solve the scalability problems of blockchains through the implementation of the Lachesis protocol. This protocol is based on the principles of DAG (directed acyclic graph) – a system that relies on a linear graph direction with determined edges and points.

Lachesis guarantees efficiency and scalability because nodes don’t have to be aware of other nodes connected to the network. The participating nodes can save time and resources while validating all transactions. The Lachesis framework is also compatible with the Ethereum Virtual Machine, extending Fantom’s versatility to countless DApps (decentralized apps).

Fantom also has extensive tools for all developers, ranging from API systems to smart contracts. To use Fantom’s features, developers are required to pay FTM tokens.

Who Are the Founders of Fantom (FTM)?

The founder of Fantom is Michael Kong – a cryptocurrency enthusiast and an expert on analyzing and decompiling EVM virtual machine instructions. Under Kong’s skill and experience, Fantom grew into a successful decentralized platform that supported hundreds of apps and programs.

What Are the Use Cases of Fantom (FTM)?

Fantom (FTM) has many use cases related to DApp development, blockchain creation, blockchain integration, and enterprise solutions. Understanding FTM’s use cases will help you determine if the token is aligned with your trading preferences.

Here are the common use cases of FTM:

  • Speculative trading
  • Investment
  • Network fees
  • Service payments
  • Decentralized apps
  • Blockchain systems
  • Enterprise solutions
  • Financial systems
  • Lending pools and yield farms
  • Exchanges

Who Builds on Fantom (FTM)?

The Fantom network is designed for project builders, DApp developers, and blockchain creators who are looking for ways to integrate smart contracts efficiently. Regular traders can also use FTM tokens to grow their portfolios.

Official website: https://fantom.foundation/

Essential Points of the Fantum (FTM) Whitepaper

The Fantom (FTM) Whitepaper discussed the structural framework and main features of Fantom. Additionally, the paper also covered FTM’s tokenomics and market potential.

These are the strong points of the Fantom (FTM) Whitepaper:

  • The Lachesis Protocol
  • The Opera Mainnet
  • Fantom DeFi Suite
  • Fantom staking and governance
  • FTM tokenomics
  • Fantom Roadmap

The Best Cryptocurrency Wallet for FTM

After knowing how to buy FTM, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.

You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.

On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.

What Factors Affect My Choice of Crypto Wallet for FTM?

At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.

Check out the important factors affecting your choice of FTM wallet:

  • Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade FTM right away.
  • Not all wallets support a wide range of cryptocurrencies. The best crypto wallets will let you trade hundreds of cryptocurrencies without limitations.
  • When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
  • Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
  • Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.

Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors

Now that you already know how to buy FTM, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.

When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.

Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.

If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes. 

General Market Overview for Fantom (FTM)

Do you want to learn more about Fantom (FTM) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!

Additionally, here are some important topics in our blog:

  • Trading speculation about Fantom (FTM)
  • The current market prices of cryptos
  • Detailed price charts with comprehensive histories
  • Whitepaper summaries of cryptos
  • Founder profiles and their related works
  • Up-to-date cryptocurrency news and developments

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