If you’re based in the USA and looking to buy Fantom – the process is very simple. All you need to do is find a US regulated exchange, deposit funds into your account, and decide how many Fantom tokens you want to buy.
Cryptocurrencies have taken over the investment market in recent years, an action that has made it necessary to have as many cryptocurrencies as possible for purposes of risk diversification. Among the cryptocurrencies that you can invest in is the Fantom coin.
Fantom is becoming highly popular in the crypto market. This guide will take you through the entire process of buying Fantom tokens. The guide is highly detailed to ensure that you understand all the processes involved.
If you are just new to cryptocurrencies and investing in the sector, you need to seek professional financial advice first because cryptocurrencies have a very risky nature. Seeking advice will ensure that you know the best time to invest in the market and how you can minimize losses.
What's in this guide?
- QUICK GUIDE: HOW TO BUY FANTOM IN THE USA
- A step-by-step guide to buying Fantom in the USA
- Store in a crypto wallet
- How to sell Fantom
- Things to consider when buying Fantom in the USA
QUICK GUIDE: HOW TO BUY FANTOM IN THE USA
- Open an account with a cryptocurrency exchange
- Verify your account
- Go to the deposit section
- Go to the platform and select Fantom
- Enter how many Fantom tokens you want to buy
- Check the details and confirm your purchase
A step-by-step guide to buying Fantom in the USA
To start buying Fantom tokens, follow these simple steps:
Step 1: Register an exchange account
The first step in investing in this market is to open a cryptocurrency exchange account. There are many exchanges in the USA, but not all the exchanges support the Fantom Coin. Do your research to know the one that supports this token and also supports USD.
Another factor you need to consider when choosing an exchange is the broker fees charged on transactions. It is best to go with the exchange that charges the fees that you are most comfortable with. You are also advised to select an exchange that can support multiple cryptocurrencies because this will make trading easier.
Registering with an exchange is a very easy process that will only take you several minutes. All you need to provide are your personal details, such as the name, telephone number, and email address. Afterwards, you can confirm these details to verify your identity.
Step 2: Fund the account
After opening the account, you will need to deposit funds in the account you can use to complete your transactions. To fund the account, you can deposit USD if the exchange permits this. In this case, you can use your credit card or bank account and link it directly to the exchange.
If the exchange does not allow you to buy Fantom using USD, you can change one cryptocurrency to the other. For example, if you already have Bitcoin in the exchange, you can exchange it for Fantom at the rate stipulated by the exchange.
You will be charged a processing fee on funding the account, depending on your selected option. In most cases, the transaction fee is a percentage of the amount you are depositing.
Step 3: Buy Fantom
The third step is to buy Fantom coins. Buying the token is a fast and easy process, and all you have to do is go to the sell section of the account and then select the amount you want to buy. After confirming your transaction, you will receive a notification at your email address.
To buy a Fantom coin, you can use two types of orders. The first one is the market order. With this order, you will be buying Fantom at ongoing prices. A market order is settled instantly as soon as you confirm your order.
The second option is to set a limit order. This type of order will allow you to buy Fantom at a specific price. All you need to do is set a low price at which you would like to buy Fantom and then wait for the value of the token to depreciate to that price, after which your order will automatically be completed.
Store your Fantom tokens in a crypto wallet
After buying a Fantom coin, you need a place where you can securely hold your tokens, and this is a crypto wallet. Crypto wallets will keep your tokens safe so that you do not have to worry about them being vulnerable to attacks on the exchange.
You can select either a hot wallet or a cold wallet. The hot wallet is the one that is easy to retrieve whenever you want to sell. It is, therefore, ideal for retail traders who want to buy and sell cryptocurrencies regularly.
The other type of wallet is a cold wallet mainly found in hardware devices such as USB drives. It is suitable for institutional investors who want to hold large amounts of the token or those who want to hold the tokens for long-term speculation.
How to sell Fantom
Selling Fantom is as easy as purchasing the tokens. You can sell Fantom directly from the exchange. Simply go to the sell section of your account and input the number of tokens you would like to sell. Confirm your details and wait a few seconds for your transaction to be processed.
You can sell Fantom for USD, which you can later withdraw from the exchange, or you can sell it by exchanging it with other cryptocurrencies. However, not all exchanges have both options, so you need to consider such things before opening an exchange account.
Things to consider when buying Fantom in the USA
Some things you need to consider when buying Fantom include:
The first thing you should consider is the availability of the tokens. When Fantom coins are highly available, it will ensure that you can easily buy and sell the tokens. The number of tokens in circulation measures availability.
Fantom is a highly volatile token, just like the other cryptocurrencies. Before you invest, you need to take note of this and ensure that you are prepared for any eventualities caused by price fluctuations,
The other thing you need to look at is the performance of the tokens. It is always advisable to go for the token that has been performing well in recent months. Such tokens will demonstrate a slightly stable price trend.
Buying Fantom in the USA is a very easy process. All you need is to open an exchange account where you can select the number of tokens you would like to purchase or sell. Before buying Fantom coin, consider several factors to ensure you are making the right decision.
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