โ Who Are FTX? โ
FTX is a global crypto exchange headquartered in Hong Kong. Whatโs important to know is that FTX is a completely separate exchange to FTX US – they have completely separate order books. Recently, FTX had one of the biggest fund rounds for any crypto business. $900 million was raised at a whooping $18 billion valuation. So yep, they are a serious crypto business. Also, you should know that FTX was actually incubated by the legendary crypto VC firm, Alameda Research – one of the top crypto VC firms. But what ties FTX, FTX US and Alameda Research together? Well that would be their teams. The most notable is CEO and founder Sam Bankerman-Fried – a very impressive chap who has popped on the radar at Forbes.
๐ Security ๐
At FTX, your account can be secured by a plethora of security precautions. That includes things like 2FA, a separate password to authorize withdrawals, login monitoring, address and IP whitelisting and much more! โ๏ธ What Cryptos Are Listed? โ๏ธ Watch my vid and Iโll show you how to find if that crypto you want is listed on the exchange.
๐ต How To Deposit Fiat ๐ต
If you want to deposit USD, GBP or Euros youโll need to pass KYC level 2. To do that youโll need to upload a proof of address document and a photo of your passport or similar government issued photo ID. Once done you can go about making that fiat deposit – I show you exactly how in my video.
โฟ How To Deposit Crypto? โฟ
If you need help here, jump to this section in the vid and Iโll show you how step-by-step.
๐ฐ Trading Fees ๐ฐ
FTX has a tiered trading fee structure. The highest fees stand at just 0.02% in maker fees and 0.07% in taker fees. Further fee discounts are available based on 30 day trading volume – but we warned those tiers take a lot of crypto trading to get. You can further reduce those fees by holding FTT tokens. I also show you how you can get instant fee discounts in my video. So be sure to watch if that interests you.
๐ How To Trade On FTX? ๐
For my complete FTX trading walkthrough, youโll want to watch my video.
๐ค Other FTX Features ๐ค
There are a plethora of markets available on FYX, However, many of them I simply cannot recommend to beginners. But some of you might be interested in trading tokenized stocks like Alibaba, Tesla, Amazon, Apple and much more. There are also prediction markets available on the exchange. One of these is a market on whether Trump will win the 2024 US election. Then there is an NFT marketplace. Yes, thatโs quite limited now. However, I imagine this will improve over time. You can also automate your trading strategies at FTX using their Quant Zone and the exchange does offer the option to earn crypto interest via margin lending. On top of that, there are a few interesting IEOs now and then on FTX.
๐ Disclaimer ๐
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
