FTX Review

Learn how to use FTX, what FTX fees are, how to trade on FTX, and much more in this comprehensive FTX Review. Review

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Last Updated: September 5, 2022

0
Our Score
4.2/5
FTX offers low fees for cryptocurrency trading with a decent selection of digital assets available. Additionally, it includes several capabilities for more experienced traders, such as the capacity to exchange between different cryptocurrencies and different national currencies. FTX offers innovative products, including industry-first derivatives, options, volatility products, and leveraged tokens.

Pros:

✅ Supports margin trading.
✅ Low withdrawal fees.
✅ Advanced trading options.
✅ For this platform, the KYC procedure is simple.
✅ Additionally, FTX ensures liquidity for all of its customers.
✅ Mobile app for iOS and Android
✅ Hold and stake FTX’s token (FTT) and earn benefits
✅ NFT marketplace so you can buy and sell NFTs
✅ Staking is available, so earn interest on your cryptocurrency

Cons:

❌ US residents can’t trade on FTX’s global platform
❌ There is no live chat support option
❌ Leveraged tokens on FTX are risky investments.
❌ Expensive USD withdrawal fees

Table of Contents

Key Features of FTX:
  • Quick and easy swap of coin/currency
  • iOS and Android mobile apps for
  • support more than 275 different cryptocurrencies
  • Low trading fees
  • Staking available
  • Hold and stake FTX’s token (FTT) and get benefits
  • NFT marketplace where you can buy or sell NFTs
  • 1% of all net fees donated to charities, so contribute to good work.
  • FTX Pay, so get paid in fiat or crypto
  • Advanced markets like – futures, stocks, leveraged tokens, volatility, forex
  • An extremely secure exchange where suspicious activity is monitored regularly.
What services is FTX able to provide?

Let’s look at what FTX offers and why it has grown to be such a well-known cryptocurrency exchange globally.

Change a coin or currency fast and easily: FTX offers a simple solution for people who want to change a coin or currency in a hurry. Once you have entered into your account, it is conveniently located on the home page and is easy for beginners to utilize. Just Choose the coin you want to convert to and the coin you want to convert from (including fiat currencies). To complete the conversion, choose the quantity of the source coin and click Convert.

Mobile app for iOS and Android: FTX offers a feature-rich app for mobile devices called FTX Pro. Thanks to the user-friendly design, you can still access all of the derivative markets that are available on the desktop site. It has received over 500,000 downloads on Google Play and a 4.6-star rating from 6,000 reviews.

NFT marketplace – buy and sell NFTs: Since NFTs have gained much traction, FTX provides a marketplace for its users to join. On the FTX exchange, you can mint, purchase, sell, and store your NFTs.

Staking is available, so earn interest on your cryptocurrency: A few coins, including SOL, RAY, and SRM, are available for stake on FTX. Your cryptocurrency is locked up on the FTX market when you stake it (you cannot sell or move it during this time), but you receive incentives paid in the cryptocurrency you staked, much like interest from a bank. For instance, if you stake RAY, you’ll get 20 % more RAY coins annually.

Over 275+ different cryptocurrencies supported: FTX’s vast selection of more than 275 coins on their platform is a respectable quantity for most traders and investors. Additionally, they frequently introduce new coins, so if there is something you’re looking for that isn’t yet available on FTX, it might do so in the future.

Hold and stake FTX’s token for benefits: You can buy FTT, the company’s coin, on FTX’s platform and other cryptocurrency exchanges. Benefits of staking FTT include reduced trading fees, eliminated blockchain fees (you can withdraw an unlimited amount of free ERC20 and ETH each day), and higher airdrop payouts. If you are not willing to stake your FTT, then you can keep it in your account. With as little as $100 worth of FTT, you’ll instantly get reductions on your trading expenses.

Advanced markets like futures, stocks, leveraged tokens, volatility, and forex:  Users of FTX have access to a wide variety of marketplaces that are unavailable on simpler cryptocurrency exchanges.

Best crypto referrals -

REFERRAL CODE

How to claim exclusive sign up bonus from our referral code

As was already noted in this article, one of the main factors contributing to the platform’s current level of popularity is its widespread use of affiliate programs and referral codes for FTX.

You are given a unique affiliate referral number when you create an account.  Once you have this code, you can use it to make a referral link and share it with friends and other users. Save 5% on all fees.

Your friends who open new accounts using this FTX referral link also get paid when they do so. Save 5% on all fees

They will also be eligible for a referral incentive if they use your crypto coupons link or the FTX referral code.

There is nothing further you need to do once you click on our link, since the ‘Referral Code’ area will automatically fill out in your browser. Complete the remaining steps of the registration process.

Make sure you read and understand all of the T&Cs before proceeding. Before you start trading with them, it’s time well spent investing.

FTX Trading Fees 

FTX charges 0.02% for makers and 0.07% for takers, with discounts based on increased trading volume, as per the following table. An additional bonus is 5% off trading fees if you simply sign up with this link!

 30-day Trading Volume (USD)Maker FeeTaker Fee
$0 – $2,000,0000.020%0.070%
> $2,000,0000.015%0.060%
> $5,000,0000.010%0.055%
> $10,000,0000.005%0.050%
> $25,000,0000.000%0.045%
> $50,000,0000.000%0.040%

If you hold FTT tokens (FTX’s coin), you also receive discounts on FTX trading fees. The discount you receive is based on how much FTT you hold, as shown in the table below.

FTT Holding (USD)Discount on Trading Fees
$1003%
$1,0005%
$5,00010%
$10,00015%
$50,00020%
$100,00025%
$200,00030%
$500,00035%
$1,000,00040%
$2,500,00050%
$5,000,00060%
Security:

FTX offers industry-standard security features, including the following:

  • A custom-built hot and cold wallet solution;
  • Full external backing of all hot wallet funds;
  • Two-factor authentication (2FA) for each account;
  • Optional 2FA and password for crypto withdrawals;
  • Relationships with industry-leading custodians.
CONCLUSION:

Both expert and novice traders should use FTX as their bitcoin exchange of choice. A platform for advanced trading has been built incredibly well, with a wide range of investment markets, including futures, currency, volatility products, and leveraged tokens. The costs are extremely reasonable, with maker and taker fees starting at just 0.02 % and 0.07 %, respectively, offering reductions for high trading volumes and merely holding FTT tokens. Use this link to get a 5% discount on all your trading expenses.

FTX is well-liked worldwide thanks to its selection of more than 275 cryptocurrencies and ten fiat currencies. Unfortunately, it is unavailable in the USA, but the good news is that there is an FTX US site that Americans can access (see our review here). The website is comparable but only allows spot trading because US regulations are significantly stronger and don’t allow trading in derivatives.

Verdict: Should you use FTX?
The relatively new FTX bitcoin exchange has established itself as a reliable and feature-rich trading platform. I had heard a lot about FTX, so when I opened my account and saw the variety of derivatives I could trade, I was impressed. These are the three key justifications for why I would suggest FTX to novice and seasoned cryptocurrency traders.1. FTX supports more than 275 cryptocurrencies, so you may undoubtedly find some coins that you are interested in purchasing. As FTX expands its platform, the variety of coins continues to expand. 2. Deposit to FTX in any of 10 different fiat currencies without paying fees and trade with maker/taker fees as low as 0.02/0.07%. You can get your fees discounted if you trade in big volumes or own FTT coins. If you sign up using this link, you can also get a discount of 5% on all of your trading expenses. 3. Novice traders have access to spot trading, while seasoned investors can enjoy trading futures, equities, leveraged tokens, and more. No matter your degree of cryptocurrency expertise, there are several possibilities. 4. Please be aware that due to rigorous regulations, FTX is not offered in the USA. But there is a different website that is supported in the States, FTX US

Why we Recommend:

✅ Supports margin trading.
✅ Low withdrawal fees.
✅ Advanced trading options.
✅ For this platform, the KYC procedure is simple.
✅ Additionally, FTX ensures liquidity for all of its customers.
✅ Mobile app for iOS and Android
✅ Hold and stake FTX’s token (FTT) and earn benefits
✅ NFT marketplace so you can buy and sell NFTs
✅ Staking is available, so earn interest on your cryptocurrency

Drawbacks:

❌ US residents can’t trade on FTX’s global platform
❌ There is no live chat support option
❌ Leveraged tokens on FTX are risky investments.
❌ Expensive USD withdrawal fees

0
Our Score
4.2/5

(563 User Reviews)

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