FTX

Company information

Company name
FTX
Website
ftx.com
Company Headquarters
Wilmington, Delaware, United States
Account Minimum
USD 25

FTX

Ratings :
4/5

Gary Wang and Sam Bankman-Fried discovered FTX in 2019.  In July 2021, the platform surpassed one million active users and a trading activity volume of around $10 billion.

In comparison to current crypto exchange, they want to provide a broader selection of trading goods. The founding members have substantial trading expertise since they are a big part of Alameda Research, a crypto quantitative fund with a high volume.

Despite the fact that FTX has only been in operation for a short time, they are already among the top. In regards to daily trading volume, they are in the top six BTC marketplaces.

Currencies available on FXT:

They have some of the most valued cryptocurencies available in the market.FTX has relatively fewer cryptocurrency options as compared to the competition. They are offering 30 traded cryptocurrency. Some of them are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Solana (Sol)
  • Avalanche (AVAX)
  • Litecoin (LTC)
  • Matic (MATIC)
  • Dogecoin (DOGE)

Pros and Cons

Pros

  • Trading costs on FTX are one the cheapest of any exchange examined. The portal will also cover cryptocurrency transaction costs levied by blockchain networks.
  • It allows a variety of Fiat withdrawals and deposits for US, HKD, EUR, SGD, GBP, CAD, and other currencies enabling people from different regions to use their platform.
  • FXT offers an array of possibilities that may be attractive to the general public.  For example, it provides margin trading, leveraged tokens, and options like FTX futures.
  • Users may get one complimentary cash wire transaction every week from FTX. All transactions over $5,000 are absolutely free. Furthermore, it includes blockchain network costs for cryptocurrencies other than Ethereum. Cash wire transfers are also free.
  • FTX claims to have implemented top-notch security procedures to safeguard assets and client data on the platform. Additional security features include the ability to use unique passwords for transfers and withdrawals.

Cons

  • Although FTX’s range of digital commodities covers some of the most actively traded cryptocurrencies, the exchange’s offers, which are around 30 in total, are less than those provided by other biggest peers which are a cause for concern.
  • FTX suggests that customers enter a support request with their customer services team through their online platform, as compared to certain competitors who provide live support service to all clients, including newly joined ones. Also, some data, such how to open or close an account is difficult to look through on their website.
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