Are you wondering how to buy Fantom?
Fantom is another smart contract platform that is slowly making its name as one of the many “Ethereum Killers” in the crypto space.
But unlike other Ethereum alternatives available today, Fantom does not use a blockchain-based consensus mechanism.
That’s why transactions done in the network are characterized as fast and low-cost.
Read on to know more about this token, including how to buy Fantom (FTM) on major crypto exchanges.
A supplementary long-term price prediction will be provided in the end.
How to Buy Fantom (FTM)
Last year, Fantom’s management focused on getting FTM listed across almost all crypto exchanges and wallets.
These are the three most-recommended exchanges to buy FTM.
Since cryptocurrency investing is vulnerable to fraud and hacking breaches, putting money on a highly-regulated platform comes with no question.
eToro is legally mandated to operate across different countries by the CIF, CySec, FCA, and ASIC.
It is available in more than 140 countries worldwide and has a strong user count of 25 million+.
eToro is a multi-asset platform offering a variety of asset classes namely stocks, indices, and currencies, among others.
But it is quickly sealing a good reputation as a trusted cryptocurrency exchange.
It features a straightforward approach to investing and allows newcomers to navigate around the platform with ease.
eToro requires a minimum deposit of only $10 per account.
Under its Refer-a-Friend program, new users admitted through a referral link are entitled to receive a $30 signing bonus after depositing $100.
Cryptocurrency trading operates 24/7 all year round. An exchange capable of attending to your concerns at any time of the day is one important consideration to look into when evaluating an exchange.
Binance’s customer service is always ready to attend to customer concerns immediately at any time of the day.
It launched Binance Live Chat last year in response to a growing number of concerns requiring immediate action.
Also, the popular exchange is available for both desktop and mobile access.
This means you can browse, monitor, and trade crypto wherever you are, as long as the country is serviceable and there is a steady internet connection.
It supports more than 140 countries and sports almost 30 million users as of late.
One of the most cost-efficient available for traders today is Pionex. The platform is known for its automated trading with 18 trading bots to automatically execute buy and sell.
With Pionex, trading is fast, effective, and cheap, with a transaction fee of only 0.05%. It supports multiple deposit mediums namely debit/credit cards, Apple Pay, and direct crypto transfers.
While other payment methods charge up to 3.5% in deposit fee, funding the account using crypto is free of charge.
You may link your Pionex account with Binance and transfer crypto directly to and from the platform.
This exchange is highly recommended for passive income seekers with no time or knowledge to do scalping.
It is also beginner-friendly since the bots are easy to understand and set up.
Best Crypto Wallets to Store FTM
There are other ways to store your FTM holdings that are proven to be safer than using an exchange.
Hard Wallet Recommendations
Hard wallets are tiny physical devices capable of storing up to a thousand or more cryptocurrencies.
Two brands are dominating the cold storage scale: Ledger and Trezor.
Ledger is known as the more affordable brand among the two, with its basic model Ledger Nano S retailing for only $59.
It sports an impeccable safety record and survived several hacking trials in the past.
Investors are capable of swapping, sending, and receiving FTM using this compact device. If you are serious about crypto investing, consider securing a cold device.
The amount of safety you’d get could not be compared to the initial amount you would shell out.
Trezor is another highly-recommended cold wallet brand. It uses three security layers to ensure that crypto holdings stored in its devices are safe all the time.
It supports more crypto versus Ledger and services around 1,600 digital assets on its platform.
If you see that investing in a hardware device is not for you, you may also opt to download Trust Wallet.
This app is available for both iOS and Android users and supports over a million digital assets.
Step-by-step Guide on How to Buy FTM
This is how to buy FTM using major crypto exchanges:
Step 1: Create a Trading Account
Type the website’s address on your search bar and click “Sign Up” or “Join Now”. Enter personal details, including a username and a password.
Make sure to agree to the site’s Terms and Conditions to proceed.
Step 2: Verify Your Trading Account
In most exchanges, the next step after registration is account verification.
Almost all trading platforms require new users to upload proof of identification, commonly government IDs and bank statements.
Step 3: Funding Your Trading Account
The website will notify you once your account has been verified through an email or a text message.
You may start funding your account using a bank, a credit/debit card payment, or online transfers.
Step 4: Buy FTM
Now that your new account has been funded, you are ready to load up some FTM.
Click the token of your choice, enter the amount you want to trade, and click “Buy” to complete the order.
You have just made your first FTM purchase!
All About Fantom
One important thing to know about Fantom is its unconventionality. It does not use a blockchain to execute transactions.
Instead, it leverages a Directed Acyclic Graph which is known as a greater alternative to blockchain.
DAG processes the information back and forth without the need for blocks to agree on what data should be stored on them. Transactions are confirmed very fast using DAG.
Fantom also employs a special Proof-of-Stake method which only has 60 validators due to arduous requirements. Users should at least have 1 million FTM coins to qualify.
Nevertheless, Fantom management announced it wants to grow the validator count to more than a thousand to achieve greater decentralization.
When it comes to rewarding holders, owning only one FTM coin qualifies owners to stake for interest. The longer you stake, the higher the interest.
One year lock-up period for validators with at least 500,000 FTM yields 11.34% annually while delegators with even one FTM can have 9.64% APY.
Fantom network processes 4,500 transactions per second and has finality of only one to two seconds.
This is significantly faster than Bitcoin’s one hour and Ethereum’s ten-minute waiting time. Transaction costs are very low at less than a penny.
FTM’s Price History
FTM had a 259% streak in February 2021 which triggered its first bull run that lasted until last year.
However, it endured extended selling pressure this year which sent the price to incur a 27.96% year-to-date decline.
Nevertheless, it is still up 369.19% from the same period a year ago.
Fantom has a market capitalization of $354 million and has a maximum supply of 3.1 billion coins. More than 80% of its total coin supply is already minted.
FTM hit an all-time high of $3.47 in October 2021. As of the latest charts, the coin exchanges hands at $1.49, up by 3.76% in the last 24 hours.
Is FTM a Buy or Sell?
FTM’s price is off from its all-time high level. But a buy rating remains in place due to its huge growth potential.
First, Fantom network invests heavily in growth. It currently runs an incentive program worth half a billion dollars for developers capable of adding valuable applications to its network.
Also, its cross-chain functionality will fuel its long-term growth.
It is compatible with the Ethereum Virtual Machine, allowing users to copy and migrate work from the Ethereum network to Fantom easily.
Lastly, Fantom still receives millions for post-ICO investments and has a strong institutional connection in Central Asia.
Spectators forecast that it could host the creation of Central Bank Digital Currencies in some of the countries in the region.
We will see the FTM price skyrocketing to greater heights again if all of these plans come into play.
Price Prediction 2022, 2023, 2026
Here is a rundown on FTM’s price prediction in the coming years:
Ethereum is becoming highly congested amid sustained user growth. This resulted in high gas fees and encourages companies to seek alternatives.
If the market realizes the novel potential of Fantom, the token’s price could hit $2.00 and end at $3.20 this year.
Also, we have spotted some community expansion initiatives from the management. Fantom invests big on promotions, kicking it off with the release of Formula 1 driver Pierre Gasly’s NFT collection.
The non-fungible tokens were released on Fantom’s NFT platform Artion to commemorate Gasly’s racing career.
This is a strategic way to increase presence in a sport with a growing fanbase.
Faster and cheaper transactions are the future of decentralization.
By 2024, Fantom might begin processing transactions on the Fantom Virtual Machine which will be an improved version of the Ethereum Virtual Machine.
If this plan goes well, we could see FTM breaking $6.00 before taking it higher to $10.00.
The mid-cap enterprise has stronger fundamentals and long-term potential than many others in the space. As the demand for FTM increases so is the price.
The more users use the network, the better it is for Fantom. FTM’s 2026 year-end price could sit between $12.00 to $13.00.
Fantom is not merely an “Ethereum Killer.” It is a helper and a good alternative to the good old smart contract giant.
The network has promising plans to speed up the path toward greater decentralization.
We hope you enjoyed reading about Fantom, including a detailed guide on how to buy Fantom (FTM) using the most-trusted crypto exchanges.