TOKEN REVIEW: FTT, Crypto Exchange Leader

In today's article we talk about more features of FTX Token!

DEEPENING

In the yesterday's article I introduced you FTX Token (FTT) and I said that is a crypto exchange born in 2018 with the idea to offer a platform that would provide traders with a whole range of new cryptocurrency-related investment tools. it is achieving great success and has achieved high trading volumes, ranking third among crypto exchanges by daily traded volume. As I am writing this article, FTX has about $10 billion in volume traded every 24 hours. In addition, the giant Binance has decided to bet on this exchange and invest in it.

FTX Shitcoin Index

Another of FTX's features is an index that keeps track of new altcoins, keeping track of all the new shitcoins that come onto the market. Shitcoins are all those tokens created almost solely for speculative purposes and not for any real practical use.

Among the shitcoins that have since established themselves we must remember the famous Dogecoin and the Shiba Inu that is following in its footsteps.

FTT Token

Following the Binance Coin, many exchange sites have coined their own cryptocurrency and so has FTX. In fact, the FTT token allows for commission discounts and benefits for users who frequently use the platform. FTX uses trading commissions to burn FTT. To create deflation, coins are burned with the hope that a smaller number will gradually make the value of this token go up.

FTT is trading around 23$ after an all-time high of 80$ reached in September 2021.

FTT is an ERC-20-compatible exchange token. The Ledger Nano X/S hardware wallet allows users to securely store and manage the FTT tokens via its Ethereum app. The FTX Token is the backbone of the FTX ecosystem, which was designed to increase network effects and demand for FTT as well as decrease its circulating supply. FTT has a circulating supply of around 135 million tokens as of June 2022 and a total supply of about 331 million.

You can buy FTT in the major exchanges including:

• Binance

• FTX

• io

• Huobi

• KuCoin

• Bybit

FTX's user interface is clean and offers a pleasant color scheme. All exchange functions are easily accessed for a high-level experience.

FTX Card

FTX has also joined the trend of other exchanges by offering a Visa credit/debit card with a range of services tailored for cryptocurrencies. The FTX Card has no fees and you can spend your cryptocurrencies. The card is not currently available, but interested users can still fill out the application form and add themselves to the waiting list.

FTX Staking

You can earn by staking the FTT platform's native token, Solana and other minor coins. In addition, you can earn a return by lending your cryptocurrencies as collateral. Before you can lend, you will need to undergo additional KYC verification.

Next week I’ll introduce to you a new cryptocurrency.

What’s your favorite exchange?

Do you see FTX as a Binance competitor? Let me know in a comment.

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