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FTX Token: Everything you Wanted to Know as a Beginner before Investing!

FTX Token (FTT) is one of the most popular cryptocurrencies currently. In terms of market cap, it is currently the 26th largest digital currency (over US$7.71 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through FTX Token, how it works, and many more.

What Is FTX Token Coin (FTT)?

FTX is one of the leading most cryptocurrency derivatives exchange trading platform, whose native cryptocurrency token is FTT. The FTX platform was launched on May 8, 2019 and within two years it has come up as one of the largest crypto derivatives trading platforms. 

Some of the most prominent crypto traders have launched their own platform, FTX exchange, after finding lots of issues in the mainstream cryptocurrency futures exchanges. According to FTX, it is special because it comes with features such as:

  • Clawback prevention
  • A centralized collateral pool 
  • Universal stablecoin settlement

FTX uses a 3-tiered liquidation model for reducing social losses. The collateral on mainstream cryptocurrency futures exchanges remain fragmanted among different token wallets. This comes in the way from getting liquidated. To solve this problem, FTX has come up with the idea of settling FTX derivatives in stablecoins. It requires just one universal margin wallet. 

Leveraged token feature of the FTT allows you to get leveraged position of trading without having the need of any margin money. If you want to short BTC with 3x leverage, you simply have to purchase a 3x short Bitcoin leveraged token on the FTX platform. FTT tokens are ERC20-compatible. These tokens can be listed on spot exchanges. 

The leveraged tokens offered by FTX currently are:

  • XRP
  • BNB
  • TRX
  • BTC
  • ETH
  • EOS
  • USDT
  • LEO

FTX Token (FTT): Facts & Figures

All these facts and figures (as of Oct 22, 2021) will help you to make a decision on investing in FTX Token. Before making FTT transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • FTX Token FTT Price: US$64.10
  • Trading Volume (24h volume): US$694,223,883
  • All-Time High (ATH) Price: US$85.02 (reached on Sep 09, 2021)
  • All Time Low (ATL) Price: US$0.8313 (reached on Sep 07, 2019)
  • 24h Low: US$61.37
  • 7d Low: US$53.77
  • YTD (Year-To-Date) Return: 994.15% YTD (Year-To-Date)
  • Market Cap: US$7,714,818,601 (US$7.71 billion)
  • Crypto Rank (in terms of market cap): 26
  • Fully Diluted Market Cap: US$22,573,115,034
  • Max Supply: 352,170,015
  • Total Supply: 336,231,561
  • Circulating Supply: 120,361,225.22 FTT (34%)

These are the facts that made FTX Token a preferred medium of exchange. Always check out market data and technical analysis before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins. 

How Is the FTX Token Network Secured?

The FTX Toke (FTT) is compatible with ERC20. The Ledger Nano X or Nano S hardware wallet securely stores and manages the FTT tokens through its Ethereum application. the Blockchain Consilium auditing firm does the security audits of FTT tokens as well as the leveraged tokens. 

Where can you Buy FTT Tokens?

You can buy FTX Token FTT coins in almost all reputed cryptocurrency exchanges including:

  1. Binance
  2. Binance JEX
  3. Huobi Global
  4. FTX
  5. HitBTC

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange. 

The most popular price pairs of FIL are:

  • FTT/USD
  • FTXT/BTC
  • FTT/USDT
  • FTT/BUSD, and many more.

Before investing, check out historical data of token FTX Token, crypto news, FTX Token price charts, FTT to USD exchange rate, and others.

What are the Best Crypto Wallets to Store FTX Token Tokens?

The best FTX Token wallets to store FTT coins are:

  1. Trust Wallet
  2. Ledger Nano X wallet
  3. Ledger Nano S wallet
  4. Trezor hardware wallet
  5. Atomic Wallet
  6. MyEtherWallet

Invest in FTX Token and Other Cryptocurrencies

You can buy and sell FTT Token and other virtual currencies against various fiat currencies (US Dollar USD, Russian Ruble, British Pound, Canadian Dollar CAD, Taiwan Dollar, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto API or mobile app, and FTX Token markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other cryptocurrencies such as FTX Token, XMR, FIL, ETC, WBTC, BCH, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Also, invest in various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. 

Invest in NapBots: A Dynamic Cryptocurrency Index

Whether you are a professional or retail investor, you can expose your capital to a diversified portfolio of digital assets & crypto asset classes by simply investing in NapBots. It is a smart crypto index service that introduces multifarious features and passive portfolio management strategies for enabling cryptocurrency investors to streamline their trading experience in new ways. 

NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

The best part of NapBots is that it tracks and executes trades automatically on the basis of your pre-set choices of indexes. The platform is very affordable as it enables you to start trading as low as US$150 with a monthly service fee of just 2.5%, which is far below the current rate of other cryptocurrency index providers. Therefore, NapBots reduces the financial barriers and at the same time eliminates the need for human intervention and the consequent human error. 
Get started with crypto-asset investing by investing through napbots.com, a dynamic crypto index for expanding diversified exposure to bitcoin and leading crypto-assets at reduced financial barriers and no human error.