How To Buy Fantom (FTM) In The UK

Last Updated May 17th 2022
5 Min Read

A Beginner’s Guide To Buying Fantom Cryptocurrency In The UK

If you’re based in the UK and wish to buy Fantom – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Fantom tokens you want to buy.

Cryptocurrencies have become a highly viable investment vehicle. Many people are turning into crypto despite the high volatility of the market. The strong trend that has happened since the beginning of the year has made investors more interested in the crypto market as they look for a way to reap huge returns from the sector. 

There are many types of cryptocurrencies that an individual can invest in, including Fantom tokens. Fantom is a cryptocurrency that you can invest in when you want to diversify your crypto portfolio from the basic currencies such a Bitcoin and Ethereum

Claiming itself the fourth-generation blockchain, the first DAG-based smart contract platform - Fantom has a lot new to say in the industry. Founded in 2018, the project has become quite popular during the 4 years of its existence and now competes with such popular blockchain platforms as Ethereum, Cardano, and Solana. The technologies introduced by this project attract several investors who see it as a prospective cryptocurrency to invest in.

If you are curious about investing in Fantom too, you are in the right place. This guide introduces everything you need to know about the Fantom blockchain project, Fantom price movements, and whether Fantom is a good investment or not. Meanwhile, you will find out the best platforms to buy Fantom coins online in the UK.

How To Buy Fantom In The UK – Quick Guide

To help you buy Fantom coins as quickly as possible, we broke the process down into a few easy steps:

  • Step 1: Open an account with eToro – Head to eToro’s website and click join now to open a new account.
  • Step 2: Verification – By uploading essential documents that show proof of identity and home address, you will get your account verified in a short time. 
  • Step 3: Deposit – Fund your new eToro account with a minimum of $10. 
  • Step 4: Search for Fantom on eToro – Search for FTM or Fantom in the eToro crypto market.
  • Step 5: Buy FTM – Enter the amount of the worth of Fantom you want to purchase in United States Dollars (USD), then click Open Trade. 

That’s it! By following these easy steps, you can invest in Fantom in The UK in less than 5 minutes.

 

Where To Buy Fantom (FTM) In The UK

Are you searching for how to buy Fantom in the UK? Well, there are hundreds of crypto exchanges and brokers in the UK. This can make it hard to know which platform is right for you. 

List of the best Exchanges to buy Fantom (FTM) in the UK:

Looking where to buy Fantom in the UK right now? Below you will find 4 of the best brokers that allow you to buy FTM in the UK. 

  • eToro - Best broker to buy Fantom (FTM) in the UK
  • Binance - Best exchange to buy Fantom UK for asset diversity
  • Coinbase - Best exchange to buy Fantom (FTM) for beginners
  • OKEx - Best broker to buy Fantom UK for low-cost

What Is Fantom Coin?

Fantom coin

Fantom is a blockchain platform that enables running smart contracts pretty much similar to Ethereum. It means that developers can also use Fantom to create decentralized apps and exchanges apart from sending and receiving cryptocurrency. Still, Fantom claims to provide upgrades of the technologies that Ethereum and other similar blockchain platforms offer. 

It’s a Korean-based project founded by Fantom Foundations in 2018 and the first CEO of the company is Michael King. Though it is quite a new project in the market Fantom already established a good reputation among crypto investors and is included among the best 50 crypto projects by its market cap. This popularity is mainly associated with the unique features Fantom offers to its users.

The most eye-striking feature of this blockchain technology is that it claims to solve the Scalability Trilemma. The latter suggests that in order to work efficiently, blockchains must step away from one of their basic components - scalability, security, or decentralization. However, Fantom is the first project to not do away with any of these features and aims to provide a scalable, secure, and decentralized platform. 

Fantom is a secure network where users can run thousands of transactions per second and pay a transaction fee of less than a cent. It should be noted though, that Fantom faces a lot of competition in the market and has not yet attracted as much attention on its platform as other reputable smart contract platforms. There are a small number of dApps and DEXs built on the Fantom blockchain and the project has a lot of room to grow.

Should You Buy Fantom Coin?

FTM coin is the native cryptocurrency of the Fantom project and has various use cases within the ecosystem. As a utility token, FTM is used for paying transaction fees, creating smart contracts, and paying network fees. It’s also a governance token and FTM holders can take part in voting on the decisions about the Fantom project. The more FTM coins holders have, the more voting power they get. 

As Fantom is a Proof of Stake protocol-based blockchain platform, holders can also stake their FTM coins to assist in network security and earn rewards. Due to its scalability, speed, and security, FTM coins can also be used for sending money in a short time. FTM is also a volatile cryptocurrency, so another use case is trading and gaining profit from its price movements. 

Considering all these use cases, FTM is predicted to become a “busy” cryptocurrency if the Fantom project wins high attention in the market. It makes FTM quite a good investment and if you are sure that Fantom is attractive enough to be a well-established blockchain platform, in the industry you can put money into it. But before that, you need to do a thorough fundamental and market analysis of the cryptocurrency project which will help you better understand the right signals for buying and selling FTM coins.

A Step-by-step Guide To Buying Fantom (FTM) In The UK

If you are interested in buying Fantom coins and want to know where to start, we have prepared a step-by-step guide to walk you through the whole process. But in the first place, you need to find a good cryptocurrency exchange that supports FTM coins and accepts UK clients. With so many exchanges listing Fantom coins you may find a challenging process to pick the most suitable one for you. To help you make a good decision, below we have reviewed two of the best platforms to buy Fantom coins. 

eToro

If you are looking for a broker that offers competitive trading fees, provides a wide selection of trading tools, and supports the most popular cryptocurrencies, eToro is the best choice. It’s one of the leading brokerage platforms worldwide that accepts customers from more than 100 countries. When it comes to safety, eToro stands out with its exceptional security structure. Plus, it’s regulated by several top-tier organizations, so there is little possibility of losing your money. 

trading fantom on etoro

Binance

Binance is a leading cryptocurrency exchange supporting hundreds of coins, tokens, and NFTs. It can be your best choice if you want to build a diversified portfolio, be secure and meanwhile enjoy low trading fees. Binance offers an easy-to-use user interface for beginners and provides a combination of advanced tools and charts for experts. It also provides a digital crypto wallet called Trust where you can transfer your coins and keep them in decentralized storage.

When you want to buy Fantom in the UK, follow these simple steps: 

Step 1: Open an exchange account 

The first thing you need to do is to open a cryptocurrency exchange account. There are several exchanges in the UK, and all these come with different ways for you to buy Fantom tokens. Before choosing the exchange, you should ensure that it can support Fantom coins. 

Opening an account is a very easy process. All you need to provide is your names, your contact details, and proof of address. In addition, you may be required to verify some details that you have provided through submitting documents such as your government-issued ID and a proof of address document. 

Opening the exchange account will only take a few minutes. To set up the security of your exchange, you need to provide a multi-factor authentication process that will keep the account secure and ensure there is a minimized chance of your account being accessed by someone else without your authorization. 

Step 2: Fund the account 

The second step is to fund the exchange account, so you can have a way of buying Fantom tokens. The most basic way of funding your account is by using a credit card or a debit card. You can also link your bank account directly with the exchange and deposit the funds you would like to spend. 

If the exchange does not allow the direct purchase of Fantom using GBP, you can choose to exchange other cryptocurrencies for the Fantom coins. Some tokens that you can use in the trade include Bitcoin and Ethereum, the most popular cryptocurrencies. 

Step 3: Buy Fantom

After depositing funds into the exchange, the third step is to buy Fantom tokens. Buying is also a very easy process. All you need to do is go to the buy-side of the exchange account, enter the amount you want to spend, confirm the transaction and you will receive a notification in your email stating that your transaction has been processed. 

To buy Fantom tokens, you can place either a market order or a limit order. The market order will enable you to buy the tokens at the ongoing prices, while the limit order will allow you to buy the tokens when the prices reach a certain low level. 

Step 4: Store your Fantom tokens in a crypto wallet 

The fourth step is for you to store the Fantom tokens in a crypto wallet. There are two main types of crypto wallets: a hot wallet and a cold wallet. The hot wallet is the one that allows you to store your tokens for a short while online as you trade them to earn quick returns. 

The other type of wallet is a cold wallet that will store your tokens offline. Cold wallets are highly secure because your tokens will not be available online and will be less susceptible to loss. It is ideal for those who want to store Fantom for long and those who want to hold large amounts. 

Read Also: Is Fantom (FTM) A Good Buy?

How To Trade Fantom Coin Online In The UK - A Step by Step Guide

Trading Fantom cryptocurrency is an excellent way to generate rewards. Here is what you need to do to start Fnatom trading in the UK. 

Register for an Account and Verify It

Obviously, you must start selecting a cryptocurrency broker that will offer cost-effective trading fees and a quick-to-operate interface. Then you must create an account on this platform if you do not have an account yet. The registration process is then followed by the verification which is a must if you aim to use the broker at its full capacity. 

Deposit Funds

To trade Fantom you must have some money in your exchange account. Hence, pick a payment option to deposit some funds on it. Consider that the bank card transactions are the fastest while the wire transfer contracts may take up to 7 business days. However, the latter may be more budget-friendly depending on the brokerage platform. 

Develop a Trading Strategy

Of course, it will be unprofessional to start trading if you don’t have a trading plan. The trading plan will give you a better understanding of the right times to buy and sell the asset and help you generate higher rewards decreasing the risks of losing money. You can either copy a trading plan from an expert or carefully research the market to build a reasonable and operational strategy. 

Start Trading Fantom Coin

With a developed trading strategy and a funded account, you can finally start buying and selling Fantom coins. You can find this cryptocurrency on the exchange by simply searching FTM in the appropriate section. For more effective trading, you will also need to actively follow the market and read the news to understand in case any reasons spring up affecting the price of the coin.

trade Fantom

How To Sell Fantom (FTM)

Selling Fantom is as easy as the process of buying the tokens. All you need is to go to the sell-side of your exchange account and then enter the amount you would like to sell. Confirm the details, and the transaction will be processed. 

There are two ways of selling Fantom tokens. You can sell them for GBP or other cryptocurrencies. All you need to do is lookout for the pair that you want to exchange with. Pairs are often named FTM/BTC, ETC/ETH, or ETC/XRP. 

Which Wallets Can I Use To Hold Fantom (FTM)?

As mentioned earlier, there are two main ways for someone to hold Fantom tokens. One can use hot wallets or cold wallets. Hot wallets are usually found in the exchange account, and they will keep your tokens online, so it is easy for you to retrieve them as you sell regularly. 

On the other hand, cold wallets are stored in external devices such as USB drives, and they keep your tokens safe away from any online interference. 

Fantom Coin Pros And Cons

Before you invest in the Fanton project, firstly you need to get familiar with it and learn about all the major factors that can have an influence on its value. Below you will find the pros and cons of Fantom coin that can help you better understand when and how to invest in it as well as assist in trading Fantom efficiently. 

​​Pros

  • Fantom develops a blockchain platform that aims to build a secure, scalable, and decentralized network. 
  • Developers can use Fantom’s platform to build dApps and DEXs and pay low transaction fees for running smart contracts. 
  • Fantom introduces innovative technology that can solve the scalability trilemma. 
  • The project aims to reach 300,000 transactions per second. 
  • Fantom FTM coin has several use cases - it’s a governance and utility token.
  • Holders can stake their FTM to generate rewards. 
  • Fantom has quickly become popular in the market and is included among the 50 best crypto assets. 

Cons

  • Fantom meets high competition in the industry with such popular competitors as Ethereum, Cardano, and Solana. 
  • There are still a few dApps built on the Fantom platform. 
  • As a crypto asset, the FTM coin is quite volatile.

Is Fantom Coin A Good Long-term Investment?

To understand if a cryptocurrency is worth investing in in the long term or not you must analyze what it offers to the market and whether it can be something innovative for the Defi ecosystem. In this case, we have a blockchain project that aims to make blockchain more scalable without sacrificing decentralization or security. Hence, Fantom can be a really valuable investment, but you need to also consider the probability of failing or falling behind the competition. 

What Will Be Fantom Coin Worth In 2025?

The cryptocurrency price prediction algorithms provide positive forecasts about the future prices of Fantom cryptocurrency. For example, the Price Prediction indicates that FTM will keep growing for the next three years and reach $4.82 in 2025. According to Price Prediction, FTM will hit $10 in 2027.

Digital Coin Price predicts that FTM won’t increase above $3 in 2025 and the average price of the coin will be above $2. According to the Digital Coin Price, the highest price during 2025 will be in June when it will be traded at $2.8. The Wallet Investor is also optimistic about the Fantom value and according to it, FTM can grow up to $9 in just five years. 

Don't Miss: Fantom Price Prediction

What’s The Purpose Of The Fantom Coin?

Fantom provides a blockchain platform capable of running smart contracts through which users can build decentralized apps and exchanges. There are several other blockchain projects similar to Fantom, but Fantom stands out with the capability of running transactions faster while keeping the network secure and decentralized. Fantom also issues a cryptocurrency that is used as a governance and utility token within its ecosystem. 

Is Fantom Coin Mining Profitable?

Fantom is based on the Proof of Stake protocol, so mining is more environmentally-friendly and cost-effective than Bitcoin and other PoW-based blockchains. In the case of Fantom blockchain, you don’t need to have highly powerful hardware to be able to run a node and get rewarded for that. Instead, you just stake your FTM coins, become a validator and gain rewards for helping to keep the network secure. 

Key Things To Consider Before Buying Fantom (FTM) In The UK  

Some things you need to consider before buying Fantom include:

Performance 

One of the things you need to assess is the performance of the tokens. Check how Fantom tokens have been doing in recent months, which will help you make an informed decision.

Volatility 

Cryptocurrencies are highly volatile, so you need to check whether you can manage the high risk of investing in this market. 

Usability 

Check whether Fantom has other uses other than being traded to make money. When a token has several uses, it ensures that its future price is protected from a large market dip. 

Conclusion 

To conclude, Fantom is an incredibly promising cryptocurrency that can bring you good rewards in the long term. Due to its unique features, which are meant to solve one of the fundamental problems in the Defi industry, it can become a well-established platform in the future. But Fantom is still in the development process and has a lot of room to grow, which means you should think twice before putting your money into it.

eToro – The Best Platform To Buy Fantom In The UK

eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.

Virtual currencies are highly volatile. Your capital is at risk.

Read More:

How to Make (or Lose) Money With Fantom (FTM)

Will Fantom (FTM) Make Me Rich?

Could Fantom (FTM) Be A Millionaire-Maker Coin?

What Will Fantom (FTM) Be Worth In 10 Years?

FAQs

What is the maximum supply of Fantom coins?

The maximum supply of the Fantom cryptocurrency is 3,175,000,000 FTM coins. More than 2.5 billion FTM coins are already in circulation. 

What is the best platform to trade FTM cryptocurrency?

eToro is one of the best brokers to trade and invest in FTM cryptocurrency as it allows trading with zero commissions, provides robust security systems, and has a beginner-friendly interface. 

Is Fantom coin a buy right now?

Fantom is an excellent investment right now and offers such innovations that can bring it high popularity if it continues to succeed in the industry. 

Who invented the Fantom blockchain?

Fantom blockchain was founded by Fantom Foundation in 2018. It’s not mentioned precisely who built the platform but Michael Kong is mentioned as the CEO and CIO of the project and Quan Nguyen as the CTO. 

What is the market cap of the Fantom coin?

The current market capitalization of Fantom cryptocurrency is almost $3 billion and it is ranked as the 42nd largest cryptocurrency by its market cap.