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How to buy Fantom online
Scroll down to follow our step-by-step guide to buying Fantom along with a brief overview of the coin.
Compare where to buy Fantom, and open an account
Fantom can be bought using an online broker. If you’re new, recommended brokers come with easy-to-follow instructions on how to navigate and start investing quickly. You can sign up to one using the links below or continue reading to learn more about Fantom first.
How to buy Fantom online – a step-by-step guide
Step 1. Find an exchange
You can buy cryptocurrencies from dedicated crypto exchanges and online brokers. Simply create an account on an exchange and you’ll be able to buy and sell a wide range of coins. Transactions are quick and the fees are low. Fantom can be found on a range of exchanges including Binance and Kucoin:
- Binance: One of the biggest cryptocurrency exchanges in the world. You will be able to find Fantom and hundreds of other tokens available to trade. There are countless tutorials on the binance website to help you get started on the exchange. Sign up for Binance now >
- KuCoin: KuCoin is a top cryptocurrency exchange. Similar to Binance, you’ll be able to find a wide selection of coins available to trade and tutorials on the KuCoin website to help you get up to speed with their trading platform. Join KuCoin today >
Step 2. Sign up and fund your account
Create an account on your chosen exchange then make a credit/debit card payment to add funds to your account. To add funds, you must first provide some contact information and identification.
Step 3. Purchase
To search for the coin you would like to purchase you can either type the coin’s full name out or enter its ticker. For Fantom, you can enter its ticker FTM.
A coin’s available trading pairings will appear. These pairings will be denominated in various currencies from Bitcoin (BTC) to United States Dollar tokens (USDT). To purchase using USDT, you can convert your deposited Great British Pounds into USDT on the exchange then trade your USDT for Fantom.
Step 4. (Optional) Get a suitable wallet
After completing the transaction, you will see your Fantom coins available in your exchange wallet. You can keep your Fantom coins on the exchange or send them to an offline wallet where you will have more control over your coins. Below are two crypto wallets that you can use to hold your Fantom tokens:
- Ledger Nano S: Ledger Nano S allows you to store your coins on a physical device. You’ll be able to manage your coins from any computer and even your mobile phone using their app. Sign up for the Ledger Nano S >
- Freewallet: A free online wallet, Freewallet lets you store and manage your coins through an online web browser or an app on your phone. You can easily sign up and get started in just a few minutes. Get Freewallet now >
How to trade Fantom – a step-by-step guide
Step 1. Find a broker
Trading involves buying and selling a coin throughout any period of time. It’s best to use a low-fee broker so you avoid paying high trading fees on every trade you make. At the moment, there are no brokers that offer Fantom for trading. Using an exchange will be the best way to trade fantom. As the coin grows in popularity, brokers like eToro and Plus500 might add the coin as a tradable asset.
Step 2. Create an account and deposit money
To sign up to a broker you will need to provide your contact details and some basic identification. You will also need to make a deposit into your account before you can start trading. Credit/debit card payments and PayPal are commonly used to fund a brokerage account.
Step 3. Learn how to perform technical analysis
Technical analysis can be used to try and determine which direction a financial asset could go. This is usually done by researching an asset’s chart patterns and history. Traders will use their research to decide if it would be best to buy or sell (or hold onto) an asset. You can learn more about trading strategies and technical analysis by taking our short term trading course.
Step 4. Decide whether to go long or short
If you’re trading on a broker or exchange, you will have the ability to go long (bet that the asset will rise) or go short (bet that the asset will fall). You can use your own analysis to decide on the best position to take.
Step 5. Make the trade
On your chosen brokers or exchanges trading page you’ll find the option to buy or sell a particular asset. You can enter the amount you’d like to buy or sell, then click the corresponding button.
Should I invest in Fantom?
If the technicalities of Fantom and its future potential captures your interest, then investing may be a good idea. Using Fantom’s cryptocurrency, $FTM, you’ll be able to stake your coins on the network where you’ll be able to vote on the future of Fantom’s ecosystem and earn rewards simultaneously.
$FTM can also be used to pay for transaction fees on the network, this makes owning some Fantom essential if you want to use the network’s decentralised applications (dApps) or trade coins using Fantom’s decentralised exchanges (DEX’s)
Fantom’s blockchain is capable of quick and affordable transaction speeds that rival its competitors. These capabilities make fantom a favourite coin of many crypto investors who believe Fantom to be one of the best crypto blockchains.
If you’re still unsure about Fantom then we have you covered. Below are some pros and cons to help you come to an opinion.
- Super-fast transaction speeds and cheap transaction fees on the fantom network
- $FTM can be staked to earn more $FTM
- Smart technology under the bonnet
Finally, here are three questions to help you decide whether to invest in Fantom.
1. Is now a good time to buy Fantom?
If Fantom can attract more dApps onto its platform that have new, interesting use cases then Fantom’s network will keep on growing well into the future. As Fantom’s network grows, so will the price of its coin.
As of writing, Fantom is still very much in its early stages despite its launch in 2018. If you believe the Fantom network can continue to expand as it has already then making a long-term investment soon could be beneficial. Otherwise, short term trading will be more attractive.
You can use your own technical analysis and trading strategies to help you make the best entry. If you need help deciding when the best time to buy is, then follow the links below to see our team’s recommendations.
2. What problem does Fantom solve, and what are its investment prospects?
Fantom aims to solve the Scalability Trilemma. The Scalability Trilemma claims that blockchains must sacrifice one of three DLT (distributed ledger technology) properties to work efficiently; these are scalability, decentralisation, and security.
Currently, there are a few good dApps available, but Fantom has a lot of catching up to do. One of the main pulls for developers to come to Fantom over competitors is Fantom’s ability to solve the trilemma and maintain low fees, fast transactions speeds and secure data.
Whether Fantom can sustain its relevance will depend on the dApps made for the network and how well the network can perform as more people come to use it. These potentially innovative dApps may take some time to arrive on the ecosystem so it’s best to keep on the lookout and be a patient investor.
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3. Do you want to hold Fantom for the long term?
General market sentiment and Fantom’s development will affect how well the coin will perform in the future. Below are some things to consider when investing in Fantom.
Considerations for a long-term investment strategy
It’s best to wait for dips in the market before accumulating more coins from an exchange. Anytime you purchase more coins be sure to consider sending them to your offline wallet.
Considerations for a short-term trading strategy
For the short term, it’s generally a good idea to make decisions based on your own analysis of Fantom’s chart. If you spot an opportunity to make a profitable trade, select a broker and make use of their low trading fees to accomplish your strategy.
Fact-checking & references
Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.
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