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How to buy and sell FANTOM (FTM)

A step-by-step guide to buying, selling and storing FTM tokens.

FANTOM is a directed acyclic graph (DAG) based smart contract platform designed to provide instant transactions at next to no cost, and to scale up to 300,000 transactions per second. FANTOM’s native asset, FTM tokens, were launched during a 2018 ICO that raised almost US$40 million in funds.

If you want to know how FANTOM works, what functions FTM tokens perform and how to buy and sell FTM, keep reading.

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Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy and sell FANTOM

FTM tokens are listed on the following cryptocurrency exchanges:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
WazirX Cryptocurrency Exchange
WazirX Cryptocurrency Exchange
Cryptocurrency, UPI, IMPS, NEFT, RTGS
INR

90
cryptocurrencies

Enjoy fast verification and high speed trading on this well-known Indian cryptocurrency exchange.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

434
cryptocurrencies

Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

823
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
AAX Cryptocurrency Exchange
AAX Cryptocurrency Exchange
Alipay, Bank transfer, Cash, Neteller, PayPal, Qiwi, SWIFT, WeChat, Western Union, UPI, IMPS, Paytm, Faster Payments (FPS), PayNow, Swish, Payme
AUD, CAD, CNH, CHF, EUR, GBP, HKD, NZD, SGD, USD

110
cryptocurrencies

Make fast transactions including spot, futures and P2P trading with this cryptocurrency exchange.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

153
cryptocurrencies

Buy 100+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

315
cryptocurrencies

Promo: New users earn up to USD 100 in bonus rewards on qualified deposits and trades. Valid till 31 December 2021. T&Cs apply.
Finder Exclusive: Get 10% discount on your fees when signing up through Finder.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
CoinSwitch Cryptocurrency Exchange
Credit card
USD, JPY, RUB, EUR

386
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
OKEx Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

272
cryptocurrencies

Promo: Earn US$10 in BTC when you refer a friend and they purchase $100 of cryptocurrency. T&Cs apply.
Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
CoinDCX Exchange
Bank transfer (ACH)
INR

209
cryptocurrencies

A cryptocurrency exchange based in India which lists over 30+ trading pairs and supports INR.
IDEX Cryptocurrency Exchange
Cryptocurrency
-

257
cryptocurrencies

A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.
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Compare up to 4 providers


A step-by-step guide to buying and selling FTM

Follow our quick guides to learn how to buy and sell your FTM tokens.

How to buy FTM

If you want to buy FTM, you’ll need to follow these three simple steps.

Step 1. Register with an exchange that lists FTM

There’s currently only a very small selection of crypto exchanges that list FTM, but that number is expected to grow. Compare the platforms that feature FTM in one or more trading pairs before deciding which exchange is right for you.

You can then sign up for an account by providing your email address and password, while some exchanges will also require your personal information and proof of ID in line with Know Your Customer and Anti-Money Laundering (KYC/AML) regulations.

Alternatively, decentralised exchanges don’t require this type of information, so to start trading on an exchange like DDEX all you need to do is link your crypto wallet.

Finally, if you’re using an exchange that supports 2-factor authentication, make sure you enable this security feature before going any further.

Step 2. Deposit funds into your account

There’s currently no way to buy FTM with Indian rupees, so you’ll need to first acquire ether (ETH) and then exchange it for FTM. For advice on how you can get your hands on some ETH, check out our how to buy ETH guide.

You’ll then need to find the ETH wallet address for your crypto exchange account, which can usually be done by clicking on a “Deposit” link, and then copy that address to make sure you transfer your ETH to the right place.

Step 3. Buy FTM

The final step is to navigate to the exchange page on your chosen trading platform, search for the pair you want to trade and then enter the details of your transaction. For example, if you’re using DDEX you’ll need to search for FTM/ETH in the box at the top left of screen, enter the amount of FTM you want to purchase and then click “Buy FTM”.

Make sure to review the full details of your purchase, including any fees that apply, before finalising the transaction.

How to sell FTM

If you need to sell your FTM tokens, the process you’ll need to follow is fairly similar to the “buy” instructions outlined in step 3. Just remember to enter your transaction details in the “Sell FTM” field, and once again take the time to review your transaction before submitting.

It’s also worth pointing out that FTM is only available in a limited range of currency pairs, so it may not be possible to directly exchange your FTM for the currency you want.


How FANTOM works

If you’re no stranger to cryptocurrency, you’ll no doubt have heard about the directed acyclic graph (DAG) technology used in other crypto projects like IOTA and Nano. In a DAG structure, nodes process transactions asynchronously and each transaction is linked to one another, all of which is designed to allow real-time transactions and the potential to scale to hundreds of thousands of transactions per second.

However, unlike other DAG-based projects, FANTOM aims to create the first DAG platform for running smart contracts and dapps. In other words, the plan is to offer the functionality of Ethereum but without any of that platform’s scalability issues.

FANTOM’s OPERA Chain uses the Lachesis Protocol, which is responsible for saving transactions that are connected by a chain of events, to maintain consensus. Digging deeper, the architecture is split into three layers, as outlined in the executive summary explaining FANTOM:

  • The OPERA Core Layer (the bottom layer) runs the Lachesis Protocol and is responsible for creating events and maintaining consensus across all nodes
  • The OPERA Ware Layer (the middle layer) provides the functionality for payments, issuing rewards, incentives and more
  • The OPERA Application Layer (the top layer) provides publicly available Application Programming Interfaces (APIs) so that apps can use the features of the OPERA Ware Layer

Initially, FANTOM plans to disrupt the existing infrastructure for payments and supply-chain management. Its mainnet is scheduled to launch in Q3 2019.


Which wallets can I use to hold FTM?

FTM tokens are currently ERC20 tokens on the Ethereum network, so you’ll need to store your holdings in an ERC20-compliant wallet. For example, you may wish to consider MetaMask or MyEtherWallet, or you may prefer the security offered by a hardware wallet like the Ledger Nano S.

It’s also worth remembering that when FANTOM launches its mainnet in the future, these ERC20 tokens will need to be swapped for FANTOM’s native tokens. In order to be allocated the equivalent amount of FTM coins, you’ll need to lock in your ERC-20 tokens to the FANTOM platform. Monitor announcements from FANTOM for details of how and when the token swap will take place, as well as which wallets you’ll be able to use to store your mainnet tokens.


What to consider if you’re interested in buying or selling FTM

Cryptocurrencies are notoriously volatile, so buying any digital coin or token is a risky and speculative move. You need to familiarise yourself with these risks, as well as all the factors that could influence a currency’s price, before you buy.

If you’re thinking of purchasing any FTM, make sure you consider the following:

  • Supply. The total supply of tokens is 3.175 billion FTM. In addition, an initial annual inflation rate of 5% also applies, but will decrease as more users join the network. 20% of the total inflation will be set aside to reward nodes, with the remaining 80% used to provide incentives for FANTOM platform users.
  • Distribution. The 3.175 billion FTM will be distributed as follows:
  • 40% token sale
  • 30% market development
  • 15% advisors and contributors
  • 15% FANTOM team and founders
  • Availability. At the time this guide is being written, in early July 2018, it’s only a couple of short weeks since FANTOM’s ICO ended. As a result, FTM tokens are only available on a couple of exchanges, so keep your eyes peeled for news of listings on additional exchanges.
  • Whitepaper. For more details of the tech behind FANTOM and how it works, check out the project’s whitepaper. For the less technically minded, this executive summary is also a useful resource.

By considering these and a range of other factors, you’ll be armed with the knowledge you need to decide whether or not you should buy any FANTOM tokens.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Image source: Shutterstock
Disclosure: At the time of writing the author holds ADA, IOTA and XLM.

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