Summary
FTX is the third-largest crypto exchange by trading volume, and it is becoming a popular destination for the crypto enthusiast looking to participate in a wide range of leveraged trades and derivatives. It has a user-friendly interface and offers high staking rewards to users. On the FTX platform, users have several trade options such as Futures, Options, MOVE, Spot, NFTs, and Leveraged tokens. It is the cheapest exchange as it requires no withdrawal and deposit fee. The cryptocurrencies of traders are highly secured as its system is equipped with SSL encryption and two-factor authentication (2FA). Don't miss out on the chance to trade in a wide range of highly profitable trading alternatives.
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Reputation
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Customer Support
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Fees
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App Design
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Ease of Use
FTX is the crypto exchange that ranks #3 with a 24-hour volume of £1,303,080,253 GBP and offers trading in over 130 cryptocurrencies and over 100 pairs ready to trade in 11 fiat currencies. FTX was launched in 2019 by Sam Bankman-Fried, and Alameda Research backs it.
FTX is a leading crypto leverage exchange created by traders to provide a robust platform for beginners, intermediate traders, and expert trading businesses. Through the platform, users can easily get access to cutting-edge trading marketplaces such as leveraged tokens, options, derivatives, and volatility products.
FTX has a user-friendly interface designed for beginners and expert crypto traders. FTX exchange offers its users a staking opportunity on a few coins such as SRM, SOL, and RAY. During the staking process, the staked coins are locked up on FTX exchange for a limited time, and in return, the users receive a staking reward that is paid in cryptocurrency.
FTX offers a wide range of cryptocurrency derivatives that may be traded using only a single margin wallet on the exchange. The users can trade Futures, Options, MOVE, Spot, and Leveraged tokens on the FTX platform. Nowadays, Non-Fungible Tokens (NFTs) are also extremely popular among crypto enthusiasts. You can bid on NFTs and get their ownership after a successful bid. The FTX exchange provides a huge marketplace for minting, buying, selling, and storing NFTs.
A wide range of deposit methods is allowed on FTX for traders to fund an account. Users can fund their accounts with stablecoins, cryptocurrency, or fiat currency. Cryptocurrencies can be directly purchased on FTX exchange with the utilization of credit cards. Traders can quickly transfer their stablecoins to the FTX platform. FTX accepts 11 fiat currencies for deposit and withdrawal via wire transfer, including GBP, EUR, and USD.
There are no fees required for deposit and withdrawal also no fees on futures settlements. Trading from your wallet or OTC trading is completely free because all included costs are already charged. There are 0.01% daily redemption and creation fees for leveraged tokens, and they also have a daily management fee of 0.03%.
FTX provides a safe and secure trading platform to users. The team of FTX utilizes SSL encryption on the website and integrates it with two-factor authentication (2FA) for securing customers’ accounts by using SMS verification, Authy, or Google Authenticator.
Pros
- Support margin trading
- Provide access to stocks, futures, forex and other advanced markets.
- Low withdrawal fees
- NFT marketplace
Cons
- Missing major cryptocurrencies
- Limited support options
- Limited platform in few countries
- Leveraged tokens are risky investment on FTX
FTX Details
Devices Compatability:
- Desktop
- Android
- Tablet
- iOS
- Smart TV
Currencies: BTC, ETH, SOL, DOGE, USDT, TRX, LTC, AUD, HKD, SGD, TRY, ZAR, CAD, CHF, BRL, NGN, GBP, USD, and EUR
Deposit Methods: Bank accounts, Debit/Credit card, ACH Transfer and Wire Transfer
Withdrawal Methods: Wire Transfers
Withdrawal Limits: $2,000/day and only crypto withdrawals
Restricted Countries: Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, and Antigua and Barbuda
Final Thoughts
FTX is the third-largest crypto exchange by trading volume, and it is becoming a popular destination for the crypto enthusiast looking to participate in a wide range of leveraged trades and derivatives. It has a user-friendly interface and offers high staking rewards to users. On the FTX platform, users have several trade options such as Futures, Options, MOVE, Spot, NFTs, and Leveraged tokens. It is the cheapest exchange as it requires no withdrawal and deposit fee. The cryptocurrencies of traders are highly secured as its system is equipped with SSL encryption and two-factor authentication (2FA). Don’t miss out on the chance to trade in a wide range of highly profitable trading alternatives.