How to Buy Fantom (FTM) in 3 Simple Steps
Fantom facilitates the creation of decentralised applications (dApps), with a focus on high throughput, fast transaction speeds, and security—issues that many other blockchains struggle with. This guide will explain how to buy Fantom’s native FTM token and explore why the project shows promise.
3 Steps to Buy Fantom
1. Choose a broker or exchange
If you want to buy FTM, you will need to start by finding a suitable exchange or broker. Consider aspects such as safety and how easy the platform is to use when making your choice. Check the next section for recommendations or simply follow the link below to sign up with our top choice.
2. Create and fund your account
Now it is time to create an account with your chosen platform. You will need to provide your name and contact information, while some platforms will also ask for a photo ID and proof of address. You can fund your account once it has been verified by going to the deposit page and choosing your preferred payment method.
3. Buy Fantom
If you have just deposited British pounds, you will need to search the platform for the FTM/GBP trading pair (or the trading pair relevant to whatever currency you deposited). Enter how much you wish to buy in a buy order. You can buy immediately with a market order or at a specified price with a limit order.
Buy Fantom in 3 Easy Steps
Create a free account
Fund your account
Why trade Fantom with a broker?
Fast and simple.
Trades are instant and easy to execute.
Pay your way.
Brokers accept a range of payment options including credit/debit cards and even PayPal.
No wallet needed.
No need to set up and maintain a wallet—you can manage your crypto directly from your account.
Where to Buy Fantom: Compare the Top Platforms
There are plenty of platforms that offer FTM, but not all of them are regulated and secure. It is also a good idea to find out what fees a platform charges before using it. We’ve already shortlisted the best platforms for buying FTM below to help you get started.
What Is Fantom?
Fantom is a blockchain platform for digital assets and dApps—that is, applications that run on the blockchain. It provides a secure, fast, and low-cost environment for dApps that can scale to meet the needs of a large number of users.
As more people start to use blockchain dApps, these issues become more pressing, as blockchains such as Ethereum currently struggle to cope with the growing number of users, leading to slow and expensive transactions. This makes these blockchains less suitable for certain applications.
Fantom deals with this with its unique consensus algorithm, Lachesis, which overcomes the limitations of other consensus algorithms. This opens up a range of use cases for Fantom, and it has already seen the deployment of more than 80 dApps, including decentralised exchanges (DEXs), lending and borrowing platforms, cross-chain bridges, and non-fungible token (NFT) platforms.
The primary token of the Fantom network is FTM, which can be used for payments, on-chain governance, network fees, and staking to secure the network.
Ways to Invest in Fantom
If you want to invest in Fantom, you have options, as the token can be bought for the long term or the short term. Both of these approaches have the potential to generate profits, so it is simply a matter of choice which you opt for.
Buy and hold Fantom
Buying and holding Fantom is a fairly self-explanatory strategy and very easy to implement. There is no need for long hours of analysis or learning complicated concepts to potentially make a profit from this strategy.
What’s more, your FTM doesn’t have to sit in a wallet doing nothing—you can stake it to help secure the network. Stakers are rewarded for this with more FTM.
Best Fantom wallets
Private wallets can be a good way to self-custody your tokens if you’re going to be holding onto them for a while. This is because they can be more secure and give you full ownership of your tokens.
Those holding a large amount of FTM for the long term may prefer to pay for hardware wallets such as Trezor, BitBox, or Ledger as they are the most secure. Smaller holders may prefer software wallets as they are free, easy to use, and can be downloaded to your desktop or mobile.
As the price of FTM is quite volatile, traders can also generate more frequent profits by buying and selling their tokens over shorter periods of time. This requires more effort and time, while skills such as technical analysis also come in handy for trading strategies.
Traders are less likely to opt for a private wallet as constantly transferring tokens between a wallet and an exchange can be inconvenient. A web wallet may be a better option, although they are less secure. Exchanges tend to provide free web wallets.
Should I Buy Fantom Now?
This is a decision you will have to make for yourself after reviewing the information available. The scarce maximum supply of FTM could prove to make it a good store of value in the long term.
Its utility on the Fantom network for governance and payments drives demand for FTM, while the ability to earn staking rewards both creates demand and reduces the supply available on the market—a positive combination for FTM value.
Yet another source of FTM demand is from users and developers on the network who need to pay fees. This means FTM could become more valuable as the ecosystem grows to accommodate more dApps and users.
Fantom is already an attractive network thanks to its aforementioned speed, security, and scalability. The fact that it can run Ethereum dApps and bridge to other networks could see it develop a large and thriving ecosystem of blockchain-based applications.
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Frequently Asked Questions
You need a minimum of 1 FTM to start staking and you can do it directly from your computer or mobile. If you unstake, there will be a period of seven days before your funds become available.
Staking rewards increase in proportion to your lock-up period but decrease in proportion to the average lock-up period and the total FTM staked by all stakers. According to the Fantom website, the current APR for staking FTM is about 14%.
fWallet is the official Fantom wallet, which is a Progressive Web App (PWA) that you can access from your browser. It lets you transfer and stake FTM, as well as access the Fantom decentralised finance (DeFi) ecosystem.
Opera is Fantom’s mainnet, a decentralised blockchain that can host applications, including those developed on Ethereum.
There are currently three different FTM tokens in circulation. There is the Opera FTM used on Fantom’s mainnet, the ERC-20 FTM which exists on Ethereum, and the BEP-2 FTM which exists on Binance Chain.