$97,172.00
$3,109.04
$1,528.07
$2,389.10
$609.61
$516.49
$294.43
$161.98
$88.85
$157.97
$86.66
$74.47
$76.21
FTX Token
(ftt)
Not AvailableMarket Data For FTX Token
| Current Price | $1.89 |
| Market Cap | |
| Market Cap Rank | - |
| Total Volume | - |
| High 24H | - |
| Low 24H | - |
| Price Change 24H | - |
| Price Change Percentage 24H | - |
| Market Cap Change 24H | - |
| Market Cap Change Percentage 24H | - |
| Circulating Supply | - |
| Total Supply | - |
| All Time High | - |
| All Time Low | - |
Coin Data For FTX Token
About FTX Token
FTX Coin Review: Mining Guide, Price & Analysis of FTX Cryptocurrency
FTX is a cryptocurrency exchange that offers a twist to traditional cryptocurrency exchanges. It offers innovative products like derivatives, options, volatility products and leveraged tokens. This is a robust platform for traders built by traders. Moreover, it is very intuitive for first-time traders.
The ability to trade leveraged coins is very intriguing. These tokens allow for leverage on popular cryptocurrencies without the need for a margin account. The theme for the FTX platform is innovation. This cryptocurrency exchange sees a lot of positive feedback from the community. Binance, a leading cryptocurrency exchange, invested a large sum in FTX in December 2019. This shows that they trust the platform and that it has a lot of promise.
Projects such as FTX are very significant. They are at the forefront of driving the world towards mass adoption of cryptocurrencies. In any case, FTX is one of the best cryptocurrency exchanges in the market. Consequently, its utility token FTT is also thriving.
How FTX Works
FTX is an innovative cryptocurrency exchange. It relies on blockchain technology to provide financial services. It offers users a wide range of products. These include spot markets, derivatives, options, volatility products and leveraged tokens.
This raises the need for a utility coin to facilitate operation on the exchange. FTX token is the utility coin for this cryptocurrency exchange. It is an ERC-20 token that is growing in popularity. FTX is a very diverse and versatile platform. There are so many options for users under one platform.
Moreover, it offers the ability to trade leveraged coins. These tokens provide you leveraged exposure to the cryptocurrency market without managing a leveraged position. They cut the amount of work you need to do. FTX offers over 45 different leverage tokens.
Further, the platform offers up to 101x leverage. It places 10x leverage as default for safety. Hedge coins are the 1x tokens, and Half coins are 0.5x tokens. Additionally, there is the Bull or Bear tokens that are 3x tokens.
Can Investors Mine FTT tokens?
No, it is not possible to mine FTT tokens. This is because FTX uses the Proof of Staking consensus. Staking is merely locking your coins in your wallet to a later date.
Staking FTT tokens comes with several benefits. Some of the benefits include:
- Increased referral rates. Referrers that stake FTT coins receive a higher fraction of their referees’ fees.
- Maker fee rebates. Stakers of FTT tokens get maker fee rebates.
- Bonus votes. Stakers get bonus votes in FTX’s polls.
- This is on top of the standard number of votes based on the FTT held and trading volume.
- Increased airdrop rewards.
- Increased airdrop rewards. Stakers get increased SRM airdrops.
FTX has in place a buy-back and burn system. This is where they buy back some FTT tokens and burn them. This process ensures that the value of FTT tokens does not drop drastically. FTX useless 33% of the profit from transaction fees to repurchase the coins.
The Team behind FTX
FTX has a great team behind it. The individuals spearheading this project have the necessary knowledge and experience to make it a success. FTX is a product of two former MIT scholars.
Sam Bankman-Fried serves as the CEO of FTX. He was previously a successful trader working for Jane Street Capital. Hence, he has vast experience in trading financial markets. Additionally, he helped design the OTC trading system for Jane Street Capital.
Gary Wang is the CTO of FTX. He previously worked at Google as a software engineer. He has experience in creating software to track financial records of airline companies.
It is safe to say that FTX is in safe hands. Moreover, FTX has support from some reputable companies in the space. It is good to see reputable companies put their trust in this project.
Privacy and Security
The developers of FTX take security very seriously. Although they do not offer much detail, there is still some information we gathered. There are several security features on the platform. First, their token uses the core key encryption algorithm. Additionally, we can tell that they use SSL encryption of their website. This shows dedication to keep users safe. Moreover, FTX employs 2-factor authentication on the platform. You can use Authy, Google Authenticator or SMS verification for this.
Further, traders receive warnings to monitor and close open positions that fall below a maintenance margin of 4.5%. This helps reduce the adverse effects of risky trades. Additionally, it helps reduce clawbacks. Even better, FTX has an insurance fund to help prevent customer losses. Customers remain protected in the event of any sudden, adverse market movement.
As far as we can tell, FTX is a very secure platform. It has in place some sophisticated security methods and an insurance fund.
Regulation
The services that FTX offers make it subject to regulation. Luckily, FTX is regulated in the United States as a Money Services Business by the Financial Crimes Enforcement Network. Additionally, it is in the process of gaining a money transmitter license. This means that FTX is a legit and safe exchange. Users do not have to worry about regulatory changes affecting their operations. It has an experienced team and reputable backers.
Our Take on FTX
FTX is showing a lot of success in the market. Consequently, FTT tokens also have a lot of success in the market. FTX ranks 9th in trading volume among cryptocurrency exchanges. This is very encouraging. The developers must be doing something right.
Their experience in diverse fields is showing itself. That is why this exchange is very successful. If everything goes right, this cryptocurrency exchange will see more adoption from the community. This will give FTT tokens more value in the market.
All in all, the FTT token is a healthy and secure token. It has a lot of use cases in the FTX ecosystem, which means its demand will stay high.
Advantages
- Developed by experienced individuals.
- Offers derivative products.
- Involves low fees.
- The platform guarantees liquidity.
- It is a regulated entity.
Disadvantages
- The leveraged coins are risky.
- It is a relatively new platform.
How to Buy FTT tokens
The FTX token ranks 48th in market cap share. This shows it has a lot of value in the market. Therefore, many investors will want to have it in their portfolio. Fortunately, you can buy this token from several exchanges. Some of the best exchanges include FTX, Bitfinex, Poloniex, Huobi Global, HitBTC and UPEX.
You can store your coins in any Ethereum compatible wallet. Some of the best wallets include Ledger, Trezor, Trust Wallet and Atomic Wallet. This coin has the potential to gain value over time. The current price stands at $4.30and the 24-hour trading volume stands at $5,460,632.
Final Verdict
The developers of FTX work very hard to keep the value of the coin steady. That's why they have the buy-back and burn system in place. Moreover, they show passion in providing a reliable and secure system.
If everything goes right, we expect this coin to gain in value. However, it is still impossible to predict where this coin will end up. There is still a lot of competition in the market. Nonetheless, this is a coin to keep an eye on.
