FTX
reviewFTX is one of the biggest cryptocurrencies exchange on the market and has over one million users. An average traded volume daily is in billions of dollars. The company was founded in 2019 and has headquarters in the Bahamas. In August 2020, FTX acquired Blockfolio, a cryptocurrency portfolio tracking app, for $150 million.
In July 2021, FTX raised $900 million at an $18 billion valuation from over 60 investors, including Softbank, Sequoia Capital, Third Point Management, Paul Tudor Jones, and Alan Howard. Binance, a competitor which invested in the company in 2020, divested its share in 2021. In April 2021, FTX acquired the naming rights to the Miami Heat’s basketball stadium in a 19-year, $135 million deal, fully renaming it FTX Arena in June 2021.
FTX users can buy and sell cryptocurrencies, trade cryptocurrencies with leverage, and also long or short positions through future contracts. A New feature is stock tokens, the value of which is covered by real shares.
The exchange supports classic fiat currencies, so it is easy to deposit dollars or euros. You can also withdraw fiat, but keep in mind, first of all, you have to pass through KYC verification.
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AltcoinsADVANTAGES OF FTX
- Low fees
- Wide range of products
- Advanced instruments and features
- FTX provides high liquidity
- Deposits and withdrawals in fiat currency
DISADVANTAGES OF FTX
- Complex for beginners
- Advanced instruments are risky
Manuals for FTX
FEES
Discount for FTT holders
In addition, there are fee discounts for holders of FTT. The current discounts, based on your FTT holdings:
Other fees
Deposit fees: There is no deposit fee
Withdrawal fees in fiat: If you withdraw less than $10 000 you pay a $75 fee.
Withdrawal fees in crypto: Withdrawals of cryptocurrencies to an external wallet are free, but there are 3 exceptions:
If the volume of deposits/withdrawals exceeds the trading volumes in the last 30 days, the Exchange may charge a fee of up to 0.10%.
When selecting a BTC, you must send at least 0.01 BTC. For a lower amount, you pay a small fee.
ETH and ERC-20 token selection are free only if you stake at least 25 FTT.
