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How to buy FTX online
This page explains everything you need to know before you invest in FTT tokens. Read on for a detailed, step-by-step breakdown of the process of purchasing or trading FTX coin, and find out why it might be a worthy investment.
Compare where to buy FTX, and open an account
If you have already made up your mind and want to get some coins immediately, the platforms listed below are the best places to buy FTT right now. Click on one of the links to sign up, or keep scrolling to learn more about this cryptocurrency.
How to buy FTX online – a step-by-step guide
Step 1. Find an exchange
The easiest way to get most altcoins is by signing up to a cryptocurrency exchange and purchasing them outright. FTX is an increasingly popular coin, so a reasonable variety of exchanges support it. Here are our two favourites:
- Binance: As the most popular cryptocurrency exchange around by trading volume, you can’t really go wrong with Binance. It is well suited for both beginners and experts. Open a Binance account now >
- Bittrex: Bittex combines a user-friendly approach with powerful analytic tools that set it apart from the competition. Get a Bittrex account today >
Step 2. Sign up and fund your account
Once you have chosen the exchange you want to use, sign up and create an account by providing the contact details that are requested from you and a scan of your photo ID if needed. Then, add funds to your account via a wallet transfer of cryptocurrency or a bank transfer of fiat money like GBP, USD or EUR. Different platforms will accept different funding sources, so make sure you check before signing up.
Step 3. Purchase
Now, you can pull the trigger and get your very first FTX coins. To do this, search for the cryptocurrency’s ticker, FTT, in the search bar of your chosen exchange. Once you have found this asset, enter the number of coins you want, check you are content with the going market price and associated fees, then finalise the transaction. The FTT should be in your account almost instantly.
Step 4. (Optional) Get a suitable wallet
If you want to store your coins securely for the long term, opening a wallet is recommended. Here are two of the best FTX wallets you can use right now:
- CoolWallet: Hardware strorage with digital access is a strong combination, and this is exactly what a CoolWallet provides. Get a CoolWallet today >
- Freewallet: Freewallet is perhaps the simplest wallet to use, and its low fees are also attractive to a wide variety of crypto investors. Get a Freewallet now >
How to trade FTX – step-by-step guide
Step 1. Find a broker
The best way to trade cryptocurrencies is with a broker – that’s because brokers allow you to open and close positions immediately rather than having to wait for an order to be executed, and this means you can take advantage of short-term price action more easily.
As of right now, FTT is not supported by any brokers. This page will be updated when this changes, and we recommend keeping an eye on the major brokers like eToro and Robinhood because they will be most likely to add FTT as an asset first.
Step 2. Deposit money
You need funds in your account before you make any trades, so once you have filled out the details that are required from you, add fiat money like GBP, USD or EUR via a bank or credit card transfer. Some platforms will even accept PayPal.
Step 3. Learn how to perform technical analysis
You can’t trade effectively without a working knowledge of technical analysis. This is the process of reading charts to identify trends and make projections about the future price action of cryptos like FTT. Make sure you study up and take your time to educate yourself before starting trading.
Step 4. Decide whether to go long or short
When trading FTT, you can go long if you think the price is going to go up, or short if you think the price will fall. Both of these tactics can produce profits, but it is important to understand the difference between the two.
Step 5. Make the trade
Now, you can finalise your first trade. However, if you’d like a little more experience before risking real money, we recommend trying out a demo account so you can learn the ropes before exposing yourself to the real market.
Should I invest in FTX?
The main reason you should think about investing in FTX is if you want to use the FTX exchange or be part of the wider ecosystem. That’s because using FTT can provide discounts on things like trading fees, and you can also receive OTC rebates. Moreover, it can serve as collateral for futures positions.
If you believe in the long-term success of the FTX platform, it stands to reason that its native token will rise in value. The platform has become more popular in recent years, and that is clear evidence that things are moving in the right direction for price accretion.
Another important factor to take into account is the shape of the overall market. In a bear market, an altcoin like FTT is likely to fall in value, tracking the wider market. However, in a bull market, FTT will likely rise in price, even if fundamental factors come into question. So, we recommend investing when the price is on the up because being a contrarian requires a little more expertise.
If you still haven’t made up your mind about FTX yet, check out the pros and cons of the cryptocurrency below.
- Discount fees on the FTX platform
- Convenient access to crypto derivatives trading
- Guaranteed liquidity for all users of FTX
- Low fees on all tradeable assets and services
- Purchases via crypto credit cards are supported
Now, check out the additional considerations you should make below and decide if you want to invest in FTT tokens.
1. Is now a good time to buy FTX?
This entirely depends on what your goals are. So, if you intend to purchase FTT and hold it in a wallet for the long term, you need to use fundamental analysis to work out if it is a good time to make an entry. This will help you cut through the noise and work out the true value of the project so you can compare it to the going market price of FTT coin.
By contrast, if you are a trader with your eyes on short-term, accelerated gains, technical analysis will be your best friend instead. This will give you an insight into where the price of FTT is likely to move next, allowing you to adjust your positions accordingly.
Whichever way you choose to approach this, make sure you are informed with the latest FTX price analysis below. Simply click on the relevant link to check out that article:
2. What problem does FTX solve, and what are its investment prospects?
We wouldn’t really say FTX solves anything that other platforms haven’t already solved, but it is a strong and competent exchange with an intriguing ecosystem that could well grow in the years to come.
The obvious hurdle standing between FTX and mainstream-level success is competition. There are plenty of cryptocurrency projects that can do everything FTX can, so this project really lives or dies based on its marketing strategy and future innovation.
To find out about all the latest events that are affecting the FTX ecosystem, check out these top news articles below:
Should you invest in the FTX Token (FTT) on January 18, 2022?
Top 3 exchange tokens to buy on November 24: CRO, FTT, and KCS
This might be the perfect time to buy FTX Token, and this is why!
3. Do you want to hold FTX for the long term?
You can invest in FTX for the long term by getting coins from an exchange, or you can trade in via a broker for short-term rewards. These are two different strategies that can be equally effective in the right circumstances. Here are the considerations you should make for each:
Considerations for a long term investment strategy
Long-term investors should channel their energy into locating a reliable and trustworthy crypto exchange to purchase FTT tokens quickly and easily. Then, they may want to open a wallet if security is a top priority for them.
Considerations for a short term trading strategy
Traders will want to find a broker with the lowest trading fees possible. That way, they are able to keep more of their profits rather than having them regularly depleted.
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