Where to Buy FTX Token?
When choosing your platform, regulatory status and fee structure are two important aspects to consider. To help you get started on your FTT journey, we’ve shortlisted some of the best platforms that offer this token below.
Things to Consider When Buying FTX Token
Before making any investment, it is important to look into the fundamentals of an asset and what may affect its future value. Here are some aspects you may want to consider.
Strong Utility. Holding FTT provides a number of benefits for FTX users. They can receive discounts on trading fees, earn VIP privileges, and participate in airdrops. FTT can also be staked for additional perks such as higher referral rates, free withdrawals, and access to initial exchange offerings (IEOs).
Deflationary Supply. FTX buys back FTT tokens proportional to the fees it generates and “burns” them (permanently removes them from circulation) on a weekly basis. If demand for the token is sustained in the long term, this downward pressure on its supply could potentially make FTT more valuable.
FTX’s Impressive Growth. As both supply of and demand for FTT are affected by how much people use FTX, the exchange’s popularity is an important factor for FTT value. FTX saw explosive growth in new users and exchange volumes throughout 2021 and the exchange’s forays into sports partnerships and non-fungible tokens (NFTs) could see that growth continue in the future.