FTX a Legitimate Crypto Exchange
One of the best features of FTX is that it accepts a wide variety of cryptocurrencies and deposit methods. Users can navigate to the “wallet” option on the FTX website to select the cryptocurrency or leveraged token they wish to use. Although FTX does not accept fiat currencies, it does support a number of other currencies. The FTX mobile app has high liquidity levels, which means that users can make unlimited trades and withdraw large volumes without worrying about losing their investment.
FTX is one of the few exchanges to offer options for Bitcoin. These are options that enable you to buy or sell the actual cryptocurrency without the need to worry about trading financial derivatives. FTX offers over 65 cryptocurrencies and 200 trading pairs. While most trading pairs are USD or USDT, there are also EUR, BRL, and CAD. Despite these shortcomings, FTX is a great choice for people who want to trade cryptocurrencies.
FTX also allows users to swap fiat currency for cryptocurrencies. The platform has a unique tier-based fee structure, and fees are adjusted based on trading volume over a 30-day period. The fee for Tier 1 traders is 0.07%, while that for Tier 6 is 0.04%. This encourages a higher order book and higher liquidity. You can even use your credit card to purchase cryptocurrencies on FTX.
FTX Review – Is FTX a Legitimate Crypto Exchange?
While Coinbase is more widely used, FTX is still a solid choice for many new investors. FTX is an excellent choice for people with little experience in the crypto space. It offers an extensive list of investment markets, including forex, futures, volatility products, and leveraged tokens. The fees at FTX are competitive, and the exchange provides discounts to its members. With its many benefits, FTX has a high level of customer satisfaction.
FTX has a regulated website. The FTX entity is registered as a Money Services Business (MSB) with FinCEN. It is in the process of obtaining money transmitter licenses in several states. Despite its lack of regulation, FTX is a legitimate, safe, and highly regarded crypto exchange. Its reputable backers and experienced staff provide security and help for its customers.
FTX supports perpetual futures on over 20 cryptocurrencies. It also supports Index Futures, which allow traders to trade segments of the crypto market, including large-cap coins, mid-cap coins, and smaller-cap coins. FTX also offers regional baskets and oil contracts whose expiration dates are tied to WTI oil. Moreover, FTX supports 45 different leveraged tokens. These are used by novice and advanced investors alike.
FTX has received funding from leading crypto venture funds. During the Corporate round, FTX received $900 million from over 60 investors. The company has since made significant investments in the eSports organization TSM. It has also purchased naming rights to an NBA stadium in Miami. In April, FTX signed a five-year partnership deal with the major cryptocurrency exchange True USD. During the initial days, FTX has grown to become the fourth largest cryptocurrency exchange in the world.