Testing Ftx. Trading with Leveraged Tokens and first class tools.
FTX started in 2019.
Even though FTX is one of the newest cryptocurrency exchange, they’ve managed to gain popularity by offering unique products, such as leveraged tokens.
Security
You can add two factor authentication to protect your account — which we highly suggest.
The exchange has an insurance fund to cover losses in case there is a malfunction — please note that this is not used to bail out your losing trades.
The combined total loss could be bigger than the insurance fund can cover, so please do not store your cryptocurrencies on an exchange.
We strongly recommend everyone to use a hardware wallet.
FTX Token
FTX launched its token sale back in 2019 with the ICO price of $0.8, and like many other exchange tokens, came out positive from the bear market while the majority of altcoins have lost most of their value.
The token is used for three things, which are the following:
Token Burn: One-third of all fees generated by the exchange will be used for an FTT repurchase until at least half of the FTT supply is taken out of existence. The purchased FTT will be sent to a burner address, so the total supply will keep decreasing.
Discounted Trading Fees: Users that hold FTT will have lower fees on the exchange.
Collateral: The token can be used as collateral for trading positions.
Unique Products
FTX stands out with unique products, such as leveraged tokens, prediction markets, or the quant zone, where you can build and share trading strategies, and earn fees after other traders when they use yours.
Holding leveraged tokens is usually a bad idea for the long-term, as cryptocurrency markets are extremely volatile, and rebalances — to avoid liquidation — can massively reduce the value of the tokens you are holding.
You should use these to increase your leverage if you are sure that the market is going in one direction.
Pros
Unique products
Backed by the top cryptocurrency liquidity provider
Gives you the ability to margin trade
Reasonable fees
Gives you the ability to trade futures contracts
Has an OTC desk
Cons
US residents have to use a different site with limited cryptocurrencies
Not insured
If you want start Trading on Ftx use this link to get discounted trading fees:
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