How to Buy FTM in Australia

Australians are known for their cryptocurrency ownership, ranking among the top three countries in the world alongside Malaysia and Nigeria. While Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), and Binance Coin (BNB) are popular choices, the regulatory landscape in Australia, which is becoming more crypto-friendly oriented, encourages Australians to explore a broader range of cryptocurrencies.  

Complimenting the popularity of these assets, we recently discussed how to buy Dogecoin (DOGE) in Australia. However, there are many other assets available on CEX.IO. 

Our platform provides Aussie enthusiasts access to over 200 readily available cryptocurrencies, including Fantom (FTM). 

Fantom is a decentralized platform aiming to offer fast and scalable solutions for cryptocurrencies and smart contracts. As such, it is often compared to Ethereum (ETH), Solana (SOL), and Avalanche (AVAX) due to its potential to deliver exceptional speed and efficiency. 

In this article, we explore where and how to buy FTM in Australia, covering everything from choosing the right exchange to popular payment methods. Read on as we discover everything about owning FTM in Australia. 

What is Fantom?

Founded in 2018, Fantom is a decentralized platform designed to potentially solve the scalability limitations of existing blockchain networks, primarily Ethereum. At its core, Fantom is a distributed ledger technology that uses a consensus mechanism called Lachesis. 

Unlike other blockchains which use either Proof-of-Word (PoW) or Proof-of-Stake (PoS), Fantom uses Lachesis to potentially increase its speed and efficiency, which can allow for more transactions to be processed per second. 

This makes Fantom suitable for applications that typically require fast and efficient transactions, such as decentralized finance (DeFi) and peer-to-peer gaming, which is becoming more popular. Also, Fantom aims to become a welcoming ecosystem for developing decentralized applications (dApps) by providing developer-friendly tools and resources. 

What is FTM? 

Fantom uses its native cryptocurrency, FTM. This token serves as the primary means of exchange within the ecosystem, powering various transactions and interactions. FTM plays a pivotal role in transactions, governance, and ecosystem development. 

In addition to this, enthusiasts from Australia can also stake FTM in a mechanism similar to the one offered by CEX.IO. Although CEX.IO staking does not support FTM currently, those interested in participating can explore other assets like Polkadot (DOT), Avalanche (AVAX), Solana (SOL), and Tezos (XTZ). 

When it comes to FTM’s market performance, this cryptocurrency hovers around the top 50 assets by market capitalization, competing against other promising projects, like Theta Network (THETA), THORChain (RUNE), Algorand (ALGO), and Celestia (TIA). 

Curious participants from Australia can explore the current market value of FTM through our comprehensive cryptocurrency price page, offering insights into FTM’s market capitalization, 24-hour price changes, and most popular currency pairs. 

Do I need a Fantom wallet?

Those looking to acquire FTM need to establish a crypto wallet. The most common types of wallets are:

• Hot wallets
• Cold wallets
• Hardware wallets
• Paper wallets

But for most Australians, 60% of them to be exact, hot wallets, such as the free CEX.IO wallet, are the most popular choice. These wallets allow Aussie crypto owners to seamlessly buy, sell, store, and trade cryptocurrencies, including FTM, through user-friendly interfaces. 

When it comes to storing FTM on CEX.IO, Australian participants receive a free custodial wallet upon registering and verifying their accounts according to the KYC/AML policies. Unlike getting a non-custodial wallet, which incurs additional fees, this process does not require any upfront costs and takes under five (5) minutes to complete.  

Step-by-Step Guide: How to Buy Fantom in Australia

Once users establish their free crypto wallet, they become eligible to buy, sell, trade, and convert FTM on CEX.IO. Our platform offers many pathways to acquire FTM, as well as other vetted assets. 

Crypto-savvy enthusiasts can obtain FTM by trading this cryptocurrency against other fiat (EUR, USD) and digital currencies (USDT) through Spot Trading. However, for those seeking a quick entrance to FTM markets, our platform offers beginner-friendly functionality, Instant Buy. 

This feature allows eligible participants from Australia to seamlessly purchase FTM with a variety of payment methods. Instant Buy is available through web browsers and our iOS and Android mobile crypto apps, and here’s how to use it: 

1. Log in to your CEX.IO account.
2. Navigate to Instant Buy from the dashboard or locate this feature under the Products menu. 
3. Choose FTM as the cryptocurrency you wish to buy. 
4. Select the fiat currency you want to use for the FTM purchase. We currently support EUR, USD, and GBP. 
5. Specify the amount of fiat you want to allocate for acquiring FTM crypto. 
6. Choose your preferred payment method from the list of available funding gateways. 
7. Follow the on-screen instructions to enter the required payment information and complete the purchase. 

Payment methods

CEX.IO supports various funding methods to provide our customers with effortless crypto acquisition. Understanding that debit cards are the preferred payment method for many Australians (over 51%), we offer both credit and debit card functionality for seamless crypto purchases on CEX.IO.

Besides credit and debit cards from major Australian banks, our platform also facilitates purchases with Wise and Payonner cards through this functionality. 

Beyond this payment method, CEX.IO also supports:

• Bank transfers
• Apple Pay
• Google Pay
• Skrill
• Neteller
• MoneyGram

We also provide other payment methods like PayPal. However, this funding gateway is available only for U.S.-based customers. Having this in mind, some of the methods outlined above may also be unavailable for Australian enthusiasts. This is why we encourage interested parties to conduct thorough research and verify the available payment methods in their jurisdictions prior to purchasing FTM on CEX.IO. 

FAQs

How to find the best way to buy Fantom?

Research is of the utmost importance when finding the best way to buy FTM. We advise enthusiasts from Australia to visit our official website and look for our comprehensive guides and manuals when buying crypto, including FTM, on CEX.IO.

Where to buy Fantom in Australia?

FTM is available on almost all centralized and decentralized exchanges, including CEX.IO. Australian participants can choose between local and international platforms. However, the decision remains solely on individuals, personal goals, and risk appetites. Keep in mind that centralized exchanges, like CEX.IO, offer more intuitive interfaces and potentially higher liquidity than their decentralized counterparts, which may make it easier for beginners to buy and sell FTM at potentially more competitive prices. 

What are the fees for buying Fantom?

The fees for buying FTM may vary between exchanges and payment methods. It is vital for Aussie enthusiasts to conduct thorough research and find the best solution that satisfies their needs and financial objectives.