Price for today
2,815 USD 5,24%
0,00003007 BTC 5,24%
Name: FTX Token
Symbol: FTT
Circulating supply: 0 $
Max supply: 0 $
Price: 2,8149667 $
Volume 24h: 8461445 $
Market Cap: 891.203 M $
Percent change 24h: 5,2 %
Founded by Sam Bankman-Fried 2019, FTX is a decentralised platform for trading. It is owned and operated by a company which registered in the islands of Antigua and Barbuda. The authors of the project emphasize their close relationship and partnership with Alameda Research. This is one of the largest cryptocurrency market traders and liquidity providers. FTT holders receive discounts on commissions, also due to good liquidity you can simply invest in FTT or speculate with this cryptocurrency, making a profit due to fluctuations in its exchange rate. The platform supports cryptocurrency futures and crypto indices.
FTX Token (which uses the ticker symbol FTT) may not be the most popular cryptocurrency out there, but it definitely started turning some heads. In this article, we’ll explore what FTX Token is and how you can successfully trade it for other cryptocurrencies using safe and anonymous exchanges. Read on.
FTX Token is the native cryptocurrency for FTX exchange, which offers an array of products relevant to the crypto industries and is built for traders. FTX as an exchange is built for professional traders, as it features all kinds of trading options, such as deals with futures, leveraged tokens, OTC trading, and more.
FTT crypto is considered the backbone of the entire FTX ecosystem. The platform has a detailed and carefully planned incentive scheme involving FTT crypto that will increase the effects of the network and the overall demand for the FTX token.
FTT can be used in many ways on the FTX exchange, including for collateral in futures trading, discount on trading fees, OTC rebates, OTC burn, and can be obtained by mining besides purchasing.
Please bear in mind that FTX Token isn’t currently regulated, which means that the residents of the US aren’t allowed to use the services of the FTX exchange.
FTX Token has been around since 2019, but it started gaining momentum starting January 2021. The price has been increasing slightly from 2019 to January 2021, when investors started paying attention to FTT and its possibilities, especially because the platform it was supporting was operating well.
Since January 2021, the price started increasing from a couple of dollars to more than $60 in some moments, but like every other cryptocurrency, FTT is highly volatile, and one can notice various ups and downs in the FTT price chart.
FTT has also managed to reach mainstream popularity in the crypto sphere, as it is currently ranked the 30the most popular token (as of August 16, 2021). Of course, the token is nowhere near the popularity of industry leaders, such as Bitcoin and Ethereum, but it has managed to reach the top 30 in a pretty short period of time.
If you’re going to trade it, make sure to keep an eye on FTX Token price usd to learn about the latest price changes.
The number of FTX in circulation can increase through the mining process, with new coins generated every 10 minutes. The number can also decrease due to coin-burning events, with coins being permanently excluded from the market.
This ERC-20 compatible token has a max supply of 352,170,015 FTT. The current circulating supply is 94.3 million FTT, which is approximately 27% of the maximum supply. Finally, since many FTT tokens are already burned, there’s also a total supply of 345,219,294 FTT as of August 16, 2021.
The FTX exchange will use ⅓ of the fees charged on trading at the platform for the FTT repurchase until half of all FTT are burned. Any FTX Tokens purchased this way will be burned. This entire process ensures that the price doesn’t drop drastically.
FTX uses the proof-of-stake consensus mechanism, meaning you can stake your FTX token and receive new FTT as they are being unlocked.
If you’re looking for a way to purchase FTT quickly and effectively, we suggest using Godex.io. It’s an anonymous exchange that currently supports 200+ cryptocurrencies, many of which can be trading pairs. It means you can use many other tokens to buy FTX Token. What makes Godex stand out from the pack is that it’s a very simple and intuitive exchange that will let you make an FTT exchange in a matter of minutes. You can think of Godex as a sort of FTT converter that lets you exchange FTT for many other cryptos and vice versa.
Of course, you can always use the official FRX OTC portal and ask to get a quote on FTT to purchase it.
Everyone who trades on the FTX platform can use their FTX tokens to get discounts on trading fees. This is especially convenient for futures traders who’ll have an opportunity to save more on fees, and it will also result in tighter OTC spreads.
As mentioned earlier, one of the ways to use FTT is as collateral for future positions. This would increase FTT utility and the overall demand for this cryptocurrency. When large market movements start happening, FTX’s insurance fund will give a net gain which would be socialized among FTT holders. This is a much better option compared to clawbacks.
The circulating supply denotes all FTX Tokens that are currently traded, meaning they are not burned.
Then, there’s the max supply, which is the maximum number of FTX tokens that will ever be minted. Not a single coin above that supply will be issued. The max supply is 352,170,015 FTT.
Finally, there’s the total supply which is basically the max supply minus the burnt coins.
Before making a decision to buy or sell FTT, you need to consider whether this token is worth buying or selling. Make sure to check the FTX Token price and predictions to determine if the time is right to acquire this cryptocurrency. Also, keep an eye on social networks, as they can help you learn more about tendencies and affect your decision.
Once you determine that the FTX Token price is suitable, you need to choose the right FTT exchange, and we suggest using godex.
Once you load the website, you only need to select FTT in one of the two fields and the token you want to swap it for in the other. After that, you’ll have to enter the destination wallet address and proceed with the FTX Token exchange.
By selecting Godex to convert FTT, you’ll be able to enjoy a couple of important benefits. First of all, Godex is anonymous, which means you won’t have to share any sensitive data when you exchange FTT. You don’t even have to open an account to trade cryptocurrencies. Instead, your job is only to select the cryptocurrencies you want to trade and swap them at the best possible rate.
Moreover, Godex features fixed rates. Whenever you want to convert FTT or any other crypto, the platform will freeze the amount you were shown after initiating the transaction. That way, it will stay the same, even if the price of FTT or the other crypto changes in the meantime.
Perhaps, one of the biggest advantages of Godex is unlimited trading. Being a decentralized and anonymous exchange, Godex allows you to trade as much as you want.
Check out the FTX Token to USD candlestick chart available on Godex to learn about the latest price movements, as that can help you decide when’s the best time to trade FTT.
