How to Buy Fantom (FTM)

As a response to the conspicuous limitations of the Ethereum and Bitcoin networks could have, numerous projects have been emerging to compensate for these issues. Fantom (FTM) is one of these projects. Its goal is to resolve the trilemma problem among scalability, security, and decentralization in a blockchain network.

In essence, Fantom (FTM) is a highly scalable, reliable, secure, and Ethereum Virtual Machine (EVM)-compatible smart contract platform. Although Ethereum was the first to offer smart contracts, Fantom is a fair competitor regarding scalability. It’s among the networks that were developed as a faster, more effective alternative to Ethereum, owing to its mighty proof of stake (PoS) mechanism.

Fantom implements a single consensus mechanism to provide the integration of several decentralized applications (dApps). The network’s native token, FTM, can be utilized for governance, staking,and paying commissions for deploying applications in the blockchain network.

What is Fantom (FTM)?

Fantom is a layer-one distributed ledger that provides smooth deployment of smart contracts on the blockchain. The platform implements a cutting-edge Directed Acyclic Graph that includes smooth interaction of computer nodes on the network in order to establish speedy and reliable transactions. DAG smart contracts platform was developed in order to exceed the issue of the preceding wave of blockchain platforms.

Fantom implements a recognizable Lachesis Protocol, an independent layer of a PoS model, to achieve consensus. Lachesis aims to be merged into the EVM-compatible smart contract chain referred to as the Fantom Opera chain. This involves quick transactions and low expenses for all users while keeping efficient security.

How does Fantom work?

Lachesis functions just like any other PoS platform. However, this technology is much faster and way more cost effective. It blends various time periods and completes them in a single vote. This method alleviates high transaction processes by dealing with 4500 transactions per one second, involving basic transactions and smart contracts.

Fantom is striving to be a striving alternative to Bitcoin and Ethereum, whose transaction processes can last up to one hour or ten minutes respectively. Fantom network, on the other hand, takes only one-two seconds to process a transaction, while striving to attain 300,000 transactions per second.

Fantom’s long-term objective is to provide compatibility within broader transaction bodies across the world using the DAG technology which can be integrated at a greater scale in real life situations. In addition, it is seeking to create a new sustainable infrastructure that allows data transfer and real-time transactions.

What is FTM used for?

FTM, the network’s native token, can be used for making payments, governance, staking crypto, fees, and protecting the network.

Payments

Fantom’s fast finality speeds up payments so that they take 1-2 seconds. High output and low expenses (approximately $0.0000001) make FTM ideal for exchanging money.

Governance

For on-chain governance, FTM is necessary for stakeholders to propose and vote on changes and improvements via governance. Since Fantom is an entirely permissionless ecosystem with no leaders, on-chain governance is responsible for network decisions. Thus, as a governance token, FTM has to take part in the voting process.

Staking

FTM can be implemented in the staking process to protect the Fantom network and get FTM tokens as a reward. What’s more, no special hardware or software is required to stake FTM.

Network fees

The Fantom’s primary token can be also utilized to pay for network fees like commission for deploying smart contracts, developing new networks, or transaction fees.

This fee makes sure that the network isn’t an easy prey to spam, and that a malicious user isn’t able to create speed problems or impede the ledger with meaningless data.

Even though the commissions are not high, they are adequate for keeping the attackers away by making a malicious actor pay high expenses to enter the system.

Network security

By using the PoS protocol, FTM intends to protect the network in such a way that stakers must lock their coins, while validators have to hold at least 3,175,000 FTM in order to take part. Normally, both stakers and validators receive lush rewards.

Why are traders buying FTM?

The hype about Fantom mainly stems from its potential to become an improved version of Ethereum, the second-greatest cryptocurrency. Traders buy Ethereum because of its capacities and unique features that make it more than just a cryptocurrency. Thus, it’s not surprising why FTM, a serious competitor to ETH, is raising interest among users.

Some of the main reasons why traders are buying FTM include, but are not limited to efficient and cheap transactions, a variety of use cases, advanced smart contracts, availability, and scalability. The most important of these are, without a doubt, swift transactions and smart contracts platform.

Where can you buy FTM?

Whenever you’re looking to buy and sell crypto, it’s imperative that you find a trustworthy crypto exchange. You surely don’t want your credentials and personal information to be exposed and compromised by unreliable or suspicious exchanges.

CEX.IO is a crypto exchange that you can trust. Numerous awards and accolades given by respectable companies may serve as a confirmation of high-quality services offered by CEX.IO. Next, the simplicity of buying and selling processes, as well as a range of different features such as Bitcoin calculator, and crypto wallet are here to make your trade straightforward and enjoyable.

What are the best ways to buy FTM?

On CEX.IO, you can purchase FTM using several methods. No matter if you’re a newbie or an experienced trader, you can take advantage of them all. The simplest and best way to buy FTM online in the USA is via Instant Buy. Once you link your credit or debit card with your CEX.IO account, you’re all set to take advantage of this handy feature.

If you’re using the CEX.IO mobile app, you can use the Exchange feature. In case you’re seeking more control over your trades, you can place trade orders.

Regarding funding option, CEX.IO supports:

• Credit and debit cards (VISA and Mastercard),
• Bank transfers,
• E-wallets (Skrill, PayPal, Epay),
• Apple Pay and Google Pay.

Once you have purchased FTM, it’s advisable to keep it securely. CEX.IO Wallet not only helps you store your coins and tokens safely, but it also allows you to monitor and manage your portfolio.

How can you buy FTM with a credit or debit card in the USA?

To buy FTM on CEX.IO, you follow the same steps as when you’d like to buy Bitcoin instantly or any other token. First, you may want to check out or compare cryptocurrency prices so that you know how many tokens you could buy for a specific amount of money.

The fastest way to buy FTM is via the Instant Buy feature, as it takes just a few steps:

1. Find the Instant Buy option on the website;
2. Choose FTM from the dropdown menu;
3. Enter the amount you want to buy, or select from the pre-calculated pack;
4. Click Buy now, check the details and finish the trade;

Please note that, in order to use the Instant Buy feature, you need to add your Visa or Mastercard beforehand. If you haven’t done so, CEX.IO will ask you to add your credit or debit card to complete the trade.

Buy FTM with trade orders

If you are a more experienced trader, or you’d just like to take your trading to the next level, you can try placing trade orders — market and limit.

A market order lets you buy (or sell) FTM instantly. You just need to enter the number of tokens you would like to trade and your order will be executed instantly.

A limit order gives you more control over your trading as it allows you to set the preferred price at which you’d like to buy FTM. In order to execute the trade, you need to enter the amount of FTM you want to buy, and to set the price at which you’d like to purchase tokens. The moment FTM reaches your price, CEX.IO will place your trade.

Normally, you can use these options with other cryptocurrencies as well. Thus, you can implement the limit order to place BTC to USD trade and take advantage of the price that you set. Also, you can place a market order to sell Ethereum or buy Shiba Inu instantly. Regardless of the cryptocurrency type, you implement these two options whenever you want to execute a trade.

Increase your crypto holdings with CEX.IO

Did you know that you can earn more crypto with CEX.IO other than by trading?

One of the simplest ways to reap passive rewards is by staking crypto. On CEX.IO, you have a choice of 14 different cryptocurrencies to stake and yield up to 23% interest.

The process is fairly straightforward — simply buy or deposit stake-able crypto and store it in your balance. The interest you can earn depends on how many crypto tokens you stake. Expectedly, the more tokens you hold, the more you will earn.

In addition to staking, you can save your crypto. Once again, you need to do very little: buy or deposit tokens, store them, and earn.

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