Crypto platform for traders?

Updated 27 Sep. 2022 at 6:39 pm

In just 3 years of existence of the exchange FTX became the main competitor Binancethus giving priority to other historical players such as legendary sea monster where Queen Piece. creature” By merchants, for merchants The crypto platform was originally intended for savvy speculators.

But its growing success appears to have whetted its appetite, and the FTX platform now offers a wide range of products to compete with Binance and its consumer offerings.
What makes it the best crypto exchange? This is what we will see.

5 tips for better cryptocurrency trading

FTX story

The FTX platform was launched only 3 years ago, in May 2019. It was initially based in Hong Kong, and later moved its headquarters to the Bahamas.

Founded by Sam Bankman Fried, a former Wall Street trader who studied at the highly prestigious Massachusetts Institute of Technology (MIT). Before that he had already created Alameda Researcha company specialized in quantitative trading.

Alameda Research is currently one of the largest liquidity providers in the crypto market.

Since its inception, the FTX platform has experienced exponential growth. While some of its competitors for several months have been trying to reduce their workforce to cope with a falling market, FTX continues to hire.

And for good reason: on average, during 2021 10 billion dollars are traded daily on the platform.

The success is due in part to very strong marketing and increased attendance at major sporting events. The exchange thus gave its name to the Miami Heat NBA Team Hall and is also the official sponsor of the Mercedes AMG Petronas Formula 1 team.

Crypto platform for traders

As Sam Bankman-Fried likes to remember, so was his platform created” By merchants, for merchants ». A clear slogan in the user experience.

The interface is very complete with on the one hand (on the left) all the products offered by FTX and on the other (on the right therefore) more user-centric data with their wallet, order history or fund deposit function.

But what stands out the most when you venture into the Market tab is the number of products that can be traded on the platform.

In fact, in addition to the traditional spot market, there are Lots of other by-products that can be traded.

Thus FTX offers the possibility of trading:

A prolific display that reflects the desire to give the speculators center stage. Desire is also present in platform costs. In fact, these shows Unbeatable rates in the cryptocurrency market in terms of commissions.

For example, an average user (and therefore without a feature) will have to pay 0.07% fee If placing orders I take and 0.02% If the “maker” orders. By comparison, Binance, which is already among the cheapest, offers a fee of 0.10%. The Staking FTT allows some users to pay for placing their order maker!

FTX Fee Schedule
FTT holders get paid to place maker orders!

Likewise, huge daily volumes ($10 billion) ensure that traders, even for large portfolios, never run out of cash on their trades.

This “commercial” orientation results in a An offer that is less comprehensive than that of Binance. FTX does not have an “academy” to educate and educate its users about cryptocurrency for example, unlike its main competitor.

It’s an exchange Less mainstream Unlike Binance. he is more Specializing for dealers and Veteran crypto enthusiasts.

Highly Secure Crypto Exchange

Another advantage of FTX is its security. Indeed, in an environment that attracts hackers from all sides, a crypto platform can boast of not having it He has never penetrated.

And their offering of tools to secure your account is also very complete. It’s obviously progressTwo-factor documentation Which has become the norm today in cryptocurrencies.

In addition, the user can add a password that is requested for each withdrawal as well as another 2FA which will be requested at the same time.

These are certainly very boring operations on a daily basis but very effective for anyone who wants to secure their account in the best possible way.

a whitelist Also available for those who still want to add a layer of security. This allows swiping only for previously selected titles.

Keen to deliver a reassuring experience to its customers, this summer, FTX announced a new Partnership with Ledger.

Concretely, this means that FTX users and Ledger key holders will now be able to switch their crypto directly from their Ledger Live app by taking advantage of the exchange’s fees and liquidity.

Ledger Nano S: How does this crypto wallet work?

Features of FTX

FTX also has many other advantages other than low cost and security. The exchange offers a well-researched affiliate program. Each user is given a referral link upon registration.

This link, if used, allows it to do so 25% refund of fees generated from referral trading. For his part, Judson benefits from 5% reduction on trading fees.

These bonuses can also be improved thanks to the FTT staking program. In fact, like Binance and its own BNB, FTX is highlighting its token: the FTT.

FTT staking offers many advantages on the platform such as:

  • Increase in referral discounts
  • Lower trading fees (trader can even be paid to place a Maker order)
  • More likely to take advantage of airdrops
  • Get FTX IEOs tickets
  • Free ERC20 Draws

Another peculiarity of FTX: the platform Includes all stablecoins (aside from USDT) It is accepted under the same quote, of the US dollar. So it can be withdrawn in the form of BUSD, USDC or even HUSD and across many available networks.

Moreover, the use of under accounts In the exchange is very easy: with two clicks, a new sub-account is created. Much easier process than Binance as you need a certain level of VIP to take advantage of it.

The platform also gained features that were not necessarily included initially. This is especially the case with its own NFT Gallery but also FTX gain.

Finally, FTX customers can now also get files FTX Debit Cardlike Binance, although there is no rewards program like their competitor.

Ultimately, the FTX exchange is definitely the best in terms of purely trading and now tends to come in and compete with its peers in other areas.

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