A Beginner’s Guide To Buying Fantom Cryptocurrency In The USA
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.
Founded in 2018, Fantom cryptocurrency has quickly garnered a lot of attention in the Defi market and become one of the largest cryptocurrencies by its market capitalization. Fantom develops a blockchain platform that can be used for building decentralized apps and exchanges. Plus, it enables running fast and cost-effective transactions capable of conducting thousands of them in a second.
How does Fantom work and is it a good investment right now? Can it beat the other players in the competition and become the future of Defi? Here is a detailed guide about the Fantom project which introduces everything you need to know if you want to invest in the FTM coin. In the guide, you will also find out where and how to buy Fantom coins online in the US.
Where To Buy Fantom (FTM) In The USA
Are you searching for how to buy Fantom in the USA? Well, there are hundreds of crypto exchanges and brokers in the USA. This can make it hard to know which platform is right for you.
List of the best Exchanges to buy Fantom (FTM) in the USA:
Looking where to buy Fantom in the USA right now? Below you will find 4 of the best brokers that allow you to buy FTM in the USA.
- Binance - Best exchange to buy Fantom USA for asset diversity
- Coinbase - Best exchange to buy Fantom (FTM) for beginners
- OKEx - Best broker to buy Fantom USA for low-cost
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What Is Fantom Coin?
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Fantom coin is the native cryptocurrency of Fantom blockchain which was founded by Fantom Foundations in 2018. It is a blockchain platform that enables running smart contracts and building dApps using its protocol. There are multiple other examples of such platforms in the Defi market, with the most popular ones being Ethereum, Cardano, and Solana.
Still, Fantom claims to offer the upgraded version of the blockchain technology which enables running thousands of transactions in an ultra-short time. Fantom combines scalability, decentralization, and security to build the fourth generation blockchain technology and aims at solving one of the biggest issues in the Defi - the Scalability Trilemma.
Due to its unique features, Fantom enables developers to avoid high transaction fees and congestion on the network. Along with the blockchain platform, Fantom also introduces several other products, including the fWallet decentralized wallet, the fUSD stablecoin, the fTrade Automated market maker, the fLend lending protocol, etc.
How Fantom Coin Works And What Affects Its Price?
As mentioned previously, Fantom blockchain issues a native cryptocurrency called FTM. FTM has multiple uses within the Fantom ecosystem. First, it’s used as a utility token to pay for transaction fees and create smart contracts. Hence in order to build dApps on the Fantom’s blockchain developers must buy FTM to pay for the fees. As a governance token, FTM also grants voting power to its holders enabling them to participate in the decisions about the project.
As Fantom blockchain uses the Proof of Stake protocol, the FTM coin can also be staked, like Ethereum and other PoS protocol-based coins. Holders can stake their FTM, become a validator and generate rewards while participating in the network’s security. Due to its fast and scalable network, Fantom can also be used for P2P money transfer purposes.
Having so many use cases is an excellent advantage for the Fantom coin, as more and more people will buy it when the Fantom project wins popularity in the market. To be able to use Fantom’s services and unique features people must buy FTM coins to pay for the network fees. Consequently, the demand for the FTM coin will increase which will positively affect Fantom's value.
Is Fantom Coin A Buy Right Now?
Whether buying Fantom cryptocurrency is a good idea or not depends on your budget and investment goals. In fact, like most of the other crypto assets, investing in Fantom involves high risks. Meanwhile, Fantom is among such crypto projects that offer valuable products to the Defi market. Considering its unique technologies, Fantom seems to be a promising blockchain project.
But still, you need to take into account the risks of losing money, because Fantom is still new and has to undergo a development process to become a well-established project in the industry. One plus is that the FTM coin is still traded at low prices making it an affordable asset for beginners. So, you can challenge your trading skills and invest in Fantom in small amounts which can be an excellent coin to diversify your crypto portfolio.
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A Step-by-step Guide To Buying Fantom (FTM) In The USA
In this part of the article, we will introduce a complete guide explaining how to buy Fantom coins in the US on a cryptocurrency exchange. But before you start buying it, first, you need to decide which platform you will use.
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.
Read Also: Is Fantom (FTM) A Good Buy?
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Store Your Fantom (FTM) 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 Trade Fantom Coin In The US - A Step by Step Guide
If you think you can make good returns speculating on FTM coin price movements in the short term, here is how you can start trading Fantom coin in the US.
Step 1: Register for an Account and Verify It
Obviously, you need to have an account to start trading Fantom coins, so your first step is to register for an online account with one of the most reputable brokers. Your account must also be verified which is needed to keep you away from hackers and fraud.
Step 2: Deposit Money in Your Account
When you get your account verified, you can deposit some funds on it to be able to purchase FTM coins. There are multiple methods available for transferring money into your account, including credit or a debit card, wire transfer, or an e-wallet, such as Skrill, PayPal, etc. Select one of those options and charge your account.
Step 3: Develop a Trading Strategy
Developing a trading strategy will contribute to making more organized trades. Due to it, you can reduce the risks of losing money and buy or sell positions at the right time. But to build a good trading plan, you must explore the market and consider all the factors that can influence the value of the Fantom coin. Also, you need to select whether you want to get a short-term or a long-term strategy considering your time, budget, and trading goals.
Step 4: Start Trading Fantom Coin
Eventually, you can start the buy and sell process as long as you have a verified account and a strong trading strategy. You can also explore the platform to find out what trading tools or options it offers and make use of them.
How To Sell Fantom (FTM)
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.
Fantom Coin Advantages And Disadvantages
If you want to invest in the Fantom project, you must also learn about the existing factors that can influence FTM coin value either positively or negatively. Here are some advantages and disadvantages of cryptocurrency that can help you in the process of trading.
Advantages
- Fantom has generated significant popularity in a short time.
- Fantom offers a decentralized, secure and scalable platform to build dApps.
- Due to its unique features, Fantom blockchain can run low-costing and faster transactions.
- Fantom coin has multiple use cases within the blockchain - users can pay fees in FTM and gain voting power.
- FTM coins can be staked to get rewards.
- Fantom coin is available on several reputable cryptocurrency exchanges.
Disadvantages
- There is stiff competition in the market and Fantom has to compete with Cardano, Ethereum, and Solana which offer similar services.
- Investing in Fantom involves high risks as it’s a volatile asset.
What Is Fantom Coin Price Prediction?
We looked at Fantom price predictions on three of the popular platforms all of which show that FTM coin value will grow in the upcoming years. So, Tradingbeasts considers that the FTM coin will reach $0.34 in one year and it will be traded at above $0.47 in 2025.
The Digital Coin Price indicates steady growth for the cryptocurrency but it’s not as optimistic as the Wallet Investor. So, according to its predictions, FTM will fluctuate between $2-$3 in the next few years but will hit $3 only in 2028.
| Year | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| 2023 | $0.44 | $0.50 | $0.53 |
| 2024 | $0.61 | $0.74 | $0.75 |
| 2025 | $0.79 | $0.92 | $0.94 |
| 2026 | $0.79 | $0.92 | $0.94 |
| 2027 | $0.98 | $1.11 | $1.13 |
| 2028 | $1.39 | $1.52 | $1.53 |
The Price Prediction is the most optimistic about Fantom prices in the long term. According to it, the average price of the FTM during 2022 will be $1.7, but it will double its value in two years Fantom will keep growing continuously and in 2027 it can even hit $10, as the Price Predictions forecast indicates.
| Year | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| 2023 | $0.30 | $0.31 | $0.37 |
| 2024 | $0.42 | $0.43 | $0.52 |
| 2025 | $0.60 | $0.62 | $0.74 |
| 2026 | $0.88 | $0.90 | $1.04 |
| 2027 | $1.24 | $1.28 | $1.53 |
Don't Miss: Fantom Price Prediction
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Virtual currencies are highly volatile. Your capital is at risk.
How Do I Mine Fantom Coin In The US?
Fantom is similar to the Ethereum blockchain and is based on the Proof of Stake protocol. It means that the Fantom mining process completely differs from Bitcoin's mining which requires powerful computational power to solve hard puzzles and run a node to be rewarded with BTCs. In contrast, Fantom only requires to stake a minimum amount of FTM coins to become a blockchain validator and be rewarded with new tokens.
What Is The Total Supply Of Fantom Coin?
The Fantom project will issue a maximum supply of 3,175,000,000 FTM coins and the current circulating supply of the FTM tokens is more than 2.76 billion. The value of the cryptocurrency is $0.20 at the time of writing which makes it the 60th largest cryptocurrency by market cap.
Things To Consider When Buying Fantom (FTM) In The USA
Some things you need to consider when buying Fantom include:
Availability
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.
Risky nature
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,
Performance
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.
Conclusion
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.
In short, Fantom coin is an excellent project to invest in as it offers game-changing features enabling users to run faster and more cost-effective transactions on its network. Fantom is an affordable cryptocurrency and is supported by several leading cryptocurrency exchanges which make it quite an available asset for everyone. Built in 2018, Fantom has attracted huge attention and is now ranked among the 50 best crypto assets by market cap.
But Fantom also has a lot of competitors in the market, including the most popular crypto project Ethereum. It means that the blockchain project should work hard to prove the effectiveness of its technology. If so, Fantom can be quite a valuable coin in the future and bring you a high return on investment. So, you can buy the Fantom coin, but consider the risks of losing your capital in case Fantom does not succeed in bringing the goals into reality.
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. 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 purpose of the Fantom coin?
Fantom coin is the native token of the Fantom blockchain which provides a platform for creating dApps and decentralized exchanges.
How can I buy a Fantom coin in the US?
To buy Fantom coin in the US, you should open an account on a cryptocurrency exchange that supports FTM coin and operates in the US. Then, you must deposit funds into your account to purchase FTM coins.
What is the market cap of Fantom cryptocurrency?
Fantom is the 60th largest cryptocurrency project with a market cap of almost $566 million.