FTX Exchange Review 2021

FTX is a young cryptocurrency exchange that focuses on trading with a wide range of products from derivatives to options, volatility products and leveraged tokens.

FTX is friendly to both beginners and expert and professional traders. It has plenty of features that the experienced will find extremely useful and also spot trading that newcomers to the cryptocurrency market will appreciate.

FTX Overview

  • Web Address: ftx.com
  • Main Location: The Bahamas
  • Deposit Methods: Wire Transfer, Silvergate Exchange Network (SEN), Signature SIGNET, SEPA, PayID, Credit card, Cryptocurrency
  • Deposit Fee: Free
  • Fiat Currencies: USD, EUR, GBP, AUD, HKD, SGD, CAD, BRL, ZAR & CHF
  • Mobile App: Yes
  • Cryptocurrencies: BTC, ETH, SOL, DOGE, FTT, BNB, XRP, MATIC, SHIB, LTC & 120+ more
  • Withdrawal Fees: USD: $75 fee (withdrawals under $10 000), BRL: 0.3% + R$10, All other currencies: Free
  • Trading Fees: Maker: 0.02%, Taker: 0.07% (discounts for increased trading volume and FTT holders)

FTX is still a young exchange that has quickly solidified its name as a fully-featured trading platform. FTX shines in these three aspects:

  • 1) Over 130+ cryptocurrencies are supported on FTX, so you can definitely find some coins that you are interested in investing in. The range of coins is regularly growing, as FTX adds more options to their platform.
  • Deposit to FTX in 10 different fiat currencies with no fees, and trade from only 0.02/0.07% maker/taker fees. You can discount your fees if you are a large-volume trader as well as if you hold FTT coin.
  • Spot trading is available for beginners, while experienced traders can enjoy trading futures, stocks, leveraged tokens and more. Plenty of options no matter what level of crypto experience you have.

Pros and Cons

Pros

  • Quickly and easily swap one coin or currency to another
  • Mobile app for iOS and Android
  • Over 130+ different cryptocurrencies supported
  • Low trading fees, with discounts available
  • Staking available – earn interest on your cryptocurrency
  • Hold and stake FTX’s token (FTT) for benefits
  • NFT marketplace – buy and sell NFTs
  • 1% of all net fees donated to charities
  • FTX Pay – get paid in fiat or crypto
  • Advanced markets – futures, stocks, leveraged tokens, volatility, forex
  • Extremely secure exchange – suspicious activity is monitored

Cons

  • Not available in the USA
  • Expensive USD withdrawal fees
  • No Live Chat support

What FTX Offers

Here are a list of some of the things FTX offers that made them become such a popular cryptocurrency exchange around the world.

  • Quickly and easily swap one coin or currency to another
  • Mobile app for iOS and Android
  • Over 130+ different cryptocurrencies supported
  • Staking available – earn interest on your cryptocurrency
  • Hold and stake FTX’s token (FTT) for benefits
  • NFT marketplace – buy and sell NFTs
  • 1% of all net fees donated to charities
  • FTX Pay – get paid in fiat or crypto
  • Advanced markets – futures, stocks, leveraged tokens, volatility, forex

1. Quickly and easily swap one coin or currency to another: For those that want to swap their fiat or cryptocurrency to other coin, FTX offers a quick and easy way to do so. Once you log into your account, it is right there on the homepage and is also quite easy for beginners.

2. Mobile app for iOS and Android: FTX has a fully functional an easy to use mobile app called FTX Pro that is very user friendly. It is available for Android and iOS users. On Google play store, it has about 500,000+ downloads and over 6000 reviews. It is very easy to navigate and you still have access to all the derivatives markets that are found on the desktop site.

3. Over 130+ different cryptocurrencies supported: FTX supports over 130+ cryptocurrencies on their platform which is a good number for investors and traders.

4. Staking available – earn interest on your cryptocurrency: FTX offers staking on a few coins such as SOL, RAY and SRM. By staking your crypto, you are locking it up on the FTX exchange (you cannot sell or transfer it while it is staked) but in return you receive rewards paid in the crypto that you staked, similar to interest in a bank. For example, if you stake RAY you will receive 20% more RAY coins on an annualized basis.

5. Hold and Stake FTX’s token (FTT) for benefits: FTX has their own coin called FTT that you can purchase on their platform as well as some other crypto exchanges. You can gain benefits for staking FTT, including trading fee discounts, waived blockchain fees (receive number of free ERC20 and ETH withdrawals per day) and increased airdrop rewards.

6. NFT marketplace – buy and sell NFTs: During the year, NFT has become increasingly popular and FTX offers its users a platform to get onboard with the latest trend, to mint buy, sell and store their NFTs on the FTX exchange.

7.1% of all net fees donated to charities: FTX is also committed to making the world a better place, not only are they an exchange platform. It is written on their website that “FTX was founded the with the goal of donating to world’s most effective charities”, and so far they have donated over $14million to charities which includes user donations, which they also match up to a certain limit.

8. FTX Pay – get paid in fiat or crypto: FTX offers a fast, secure, and low-fee payment processor for sending and receiving payments in crypto or fiat. 

9. Advanced markets – futures, stocks, leveraged tokens, volatility, forex: FTX offers a wide range of markets that cannot be found on more basic crypto exchanges. Below is an image that shows the available markets including futures, spot, stocks, leveraged tokens, volatility, prediction and fiat.

FTX Fees

Deposit Fees

Depositing crypto and fiat into FTX is totally free.

Trading Fees

A fee of 0.02% is charged for makers and 0.07% for takers with discounts based on increased trading volume. There are also discounts on trading fees for those that holds FTT tokens. The discount you get is based on the amount of FTT (FTX native coin) you hold.

Fiat Withdrawal Fees

USD Withdrawal: $75 fee if transaction is less than $10 000

BRL Withdrawal: 0.3% + R$10

Other fiat currencies: No fee charged

Crypto Withdrawal Fees

BTC (< 0.01 BTC): one free withdrawal per day, then user pays blockchain fees

BTC (> 0.01 BTC): free

ETH: user pays blockchain fees (unless FTT staked)

ERC-20 token: user pays blockchain fees (unless FTT staked)

All other crypto: free

If you have FTT staked, you will receive a number of free ETH or ERC-20 withdrawals each day. See the table below to see how it works.

Conclusions

FTX is really a great choice of exchange for beginners and expert traders. They have built a wonderful platform for advanced trading. They also have variety of investment markets such as futures, forex, volatility products and leveraged tokens.

FTX is popular around the world, but one downside is that it isn’t available in the U.S but the good news is that there’s a FTX.US site which Americans can use.

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FTX Exchange Review 2021

Posted by staff on December 24, 2021

cryptocurrency Insights & Tutorials


FTX Exchange Review 2021

FTX is a young cryptocurrency exchange that focuses on trading with a wide range of products from derivatives to options, volatility products and leveraged tokens.

FTX is friendly to both beginners and expert and professional traders. It has plenty of features that the experienced will find extremely useful and also spot trading that newcomers to the cryptocurrency market will appreciate.

FTX Overview

  • Web Address: ftx.com
  • Main Location: The Bahamas
  • Deposit Methods: Wire Transfer, Silvergate Exchange Network (SEN), Signature SIGNET, SEPA, PayID, Credit card, Cryptocurrency
  • Deposit Fee: Free
  • Fiat Currencies: USD, EUR, GBP, AUD, HKD, SGD, CAD, BRL, ZAR & CHF
  • Mobile App: Yes
  • Cryptocurrencies: BTC, ETH, SOL, DOGE, FTT, BNB, XRP, MATIC, SHIB, LTC & 120+ more
  • Withdrawal Fees: USD: $75 fee (withdrawals under $10 000), BRL: 0.3% + R$10, All other currencies: Free
  • Trading Fees: Maker: 0.02%, Taker: 0.07% (discounts for increased trading volume and FTT holders)

FTX is still a young exchange that has quickly solidified its name as a fully-featured trading platform. FTX shines in these three aspects:

  • 1) Over 130+ cryptocurrencies are supported on FTX, so you can definitely find some coins that you are interested in investing in. The range of coins is regularly growing, as FTX adds more options to their platform.
  • Deposit to FTX in 10 different fiat currencies with no fees, and trade from only 0.02/0.07% maker/taker fees. You can discount your fees if you are a large-volume trader as well as if you hold FTT coin.
  • Spot trading is available for beginners, while experienced traders can enjoy trading futures, stocks, leveraged tokens and more. Plenty of options no matter what level of crypto experience you have.

Pros and Cons

Pros

  • Quickly and easily swap one coin or currency to another
  • Mobile app for iOS and Android
  • Over 130+ different cryptocurrencies supported
  • Low trading fees, with discounts available
  • Staking available – earn interest on your cryptocurrency
  • Hold and stake FTX’s token (FTT) for benefits
  • NFT marketplace – buy and sell NFTs
  • 1% of all net fees donated to charities
  • FTX Pay – get paid in fiat or crypto
  • Advanced markets – futures, stocks, leveraged tokens, volatility, forex
  • Extremely secure exchange – suspicious activity is monitored

Cons

  • Not available in the USA
  • Expensive USD withdrawal fees
  • No Live Chat support

What FTX Offers

Here are a list of some of the things FTX offers that made them become such a popular cryptocurrency exchange around the world.

  • Quickly and easily swap one coin or currency to another
  • Mobile app for iOS and Android
  • Over 130+ different cryptocurrencies supported
  • Staking available – earn interest on your cryptocurrency
  • Hold and stake FTX’s token (FTT) for benefits
  • NFT marketplace – buy and sell NFTs
  • 1% of all net fees donated to charities
  • FTX Pay – get paid in fiat or crypto
  • Advanced markets – futures, stocks, leveraged tokens, volatility, forex

1. Quickly and easily swap one coin or currency to another: For those that want to swap their fiat or cryptocurrency to other coin, FTX offers a quick and easy way to do so. Once you log into your account, it is right there on the homepage and is also quite easy for beginners.

2. Mobile app for iOS and Android: FTX has a fully functional an easy to use mobile app called FTX Pro that is very user friendly. It is available for Android and iOS users. On Google play store, it has about 500,000+ downloads and over 6000 reviews. It is very easy to navigate and you still have access to all the derivatives markets that are found on the desktop site.

3. Over 130+ different cryptocurrencies supported: FTX supports over 130+ cryptocurrencies on their platform which is a good number for investors and traders.

4. Staking available – earn interest on your cryptocurrency: FTX offers staking on a few coins such as SOL, RAY and SRM. By staking your crypto, you are locking it up on the FTX exchange (you cannot sell or transfer it while it is staked) but in return you receive rewards paid in the crypto that you staked, similar to interest in a bank. For example, if you stake RAY you will receive 20% more RAY coins on an annualized basis.

5. Hold and Stake FTX’s token (FTT) for benefits: FTX has their own coin called FTT that you can purchase on their platform as well as some other crypto exchanges. You can gain benefits for staking FTT, including trading fee discounts, waived blockchain fees (receive number of free ERC20 and ETH withdrawals per day) and increased airdrop rewards.

6. NFT marketplace – buy and sell NFTs: During the year, NFT has become increasingly popular and FTX offers its users a platform to get onboard with the latest trend, to mint buy, sell and store their NFTs on the FTX exchange.

7.1% of all net fees donated to charities: FTX is also committed to making the world a better place, not only are they an exchange platform. It is written on their website that “FTX was founded the with the goal of donating to world’s most effective charities”, and so far they have donated over $14million to charities which includes user donations, which they also match up to a certain limit.

8. FTX Pay – get paid in fiat or crypto: FTX offers a fast, secure, and low-fee payment processor for sending and receiving payments in crypto or fiat. 

9. Advanced markets – futures, stocks, leveraged tokens, volatility, forex: FTX offers a wide range of markets that cannot be found on more basic crypto exchanges. Below is an image that shows the available markets including futures, spot, stocks, leveraged tokens, volatility, prediction and fiat.

FTX Fees

Deposit Fees

Depositing crypto and fiat into FTX is totally free.

Trading Fees

A fee of 0.02% is charged for makers and 0.07% for takers with discounts based on increased trading volume. There are also discounts on trading fees for those that holds FTT tokens. The discount you get is based on the amount of FTT (FTX native coin) you hold.

Fiat Withdrawal Fees

USD Withdrawal: $75 fee if transaction is less than $10 000

BRL Withdrawal: 0.3% + R$10

Other fiat currencies: No fee charged

Crypto Withdrawal Fees

BTC (< 0.01 BTC): one free withdrawal per day, then user pays blockchain fees

BTC (> 0.01 BTC): free

ETH: user pays blockchain fees (unless FTT staked)

ERC-20 token: user pays blockchain fees (unless FTT staked)

All other crypto: free

If you have FTT staked, you will receive a number of free ETH or ERC-20 withdrawals each day. See the table below to see how it works.

Conclusions

FTX is really a great choice of exchange for beginners and expert traders. They have built a wonderful platform for advanced trading. They also have variety of investment markets such as futures, forex, volatility products and leveraged tokens.

FTX is popular around the world, but one downside is that it isn’t available in the U.S but the good news is that there’s a FTX.US site which Americans can use.

Follow
( 0 Followers )
X

Follow

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