How to Buy Fantom (FTM): A Complete Guide
Interested in investing in Fantom (FTM)? This comprehensive guide will walk you through the process, covering everything from understanding the Fantom network to purchasing, storing, and staking your FTM tokens.
What is Fantom (FTM)?
Learn more about Fantom and the Fantom token (FTM) in this guide. The Fantom network is a highly scalable and secure blockchain platform designed for decentralized applications (dApps) and decentralized finance (DeFi). Its unique consensus mechanism, Lachesis, enables fast transaction speeds and low fees, making it an attractive option for developers and users alike.
Where to Buy Fantom (FTM)
Several reputable cryptocurrency exchanges offer FTM for purchase. Here are a few popular options:
Bybit
With Bybit, you can obtain FTM in a few quick ways: Sign up for a Bybit account, or log in to your existing Bybit account to buy stablecoins or BTC directly using your credit or debit card. Then, use those stablecoins or BTC to trade for FTM on the Bybit spot market.
Kraken
Learn how to buy Fantom on Kraken starting from $10. Use a credit/debit card, ACH deposit, or Apple/Google Pay (where available) to fund your account and then purchase FTM.
How to Buy FTM with Trust Wallet
We will also highlight how you can buy, deposit, send, and stake FTM using the Trust Wallet app. Trust Wallet is a secure and user-friendly mobile wallet that supports a wide range of cryptocurrencies, including FTM. You can purchase FTM directly within the app using various payment methods.
Step-by-Step Guide to Buying FTM
- Choose an Exchange: Select an exchange like Bybit or Kraken based on your preferences and location.
- Create an Account: Sign up for an account on your chosen exchange and complete the necessary verification steps.
- Deposit Funds: Deposit funds into your exchange account using a credit/debit card, bank transfer, or other accepted payment methods.
- Buy FTM: Navigate to the FTM trading pair (e.g., FTM/USDT, FTM/BTC) and place an order to buy FTM.
- Secure Your FTM: Once you have purchased FTM, it is recommended to transfer it to a secure wallet, such as Trust Wallet, for safekeeping.
Storing Your FTM
For long-term storage, consider using a hardware wallet like Ledger or Trezor for added security. Software wallets like Trust Wallet are also a convenient option for everyday use.
Staking FTM
Staking FTM allows you to earn rewards by participating in the network's consensus mechanism. You can stake FTM through various platforms, including the official Fantom staking portal and some cryptocurrency exchanges.
Conclusion
Buying Fantom (FTM) is a straightforward process with several convenient options available. By following the steps outlined in this guide, you can easily acquire FTM and participate in the growing Fantom ecosystem.