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Using FTX: A Guide to the FTX Cryptocurrency Derivatives Exchange
webbitcoinke.io·bitcoinke.io/2021/11/using-ftx/
This article is a promotional overview of FTX written in November 2021, before FTX's collapse in November 2022; notable for its association with Sam Bankman-Fried, who was also a prominent figure in the AI safety and effective altruism communities.
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Summary
An overview of the FTX cryptocurrency exchange platform, covering its founding, key features, trading products, and fee structure as of late 2021. The article highlights FTX's derivatives offerings, spot markets, and staking rewards, positioning it as suitable for both novice and professional traders.
Key Points
- •FTX was founded in 2018 by Sam Bankman-Fried and Gary Wang, growing to a $25B valuation by October 2021.
- •The platform offered derivatives, options, leveraged tokens, and spot markets across 100+ trading pairs.
- •Trading fees ranged from 0.04%-0.40% depending on maker/taker status and volume.
- •FTX supported 275+ cryptocurrencies on its main platform and accepted 10 fiat currencies.
- •Users could earn up to 8% staking rewards; no deposit/withdrawal fees for crypto assets.
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| Page | Type | Quality |
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| FTX | Organization | 74.0 |
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A Look at the FTX Exchange – A Highly Competitive Derivatives Exchange Platform By Traders, For Traders – BitKE
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A Look at the FTX Exchange – A Highly Competitive Derivatives Exchange Platform By Traders, For Traders
Caroline Kuria · November 11, 2021 · 3 min read
FTX is a cryptocurrency exchange platform designed for traders by traders.
Founded in 2018 by former Jane Street and Google employees, Sam Bankman-Fried (CEO) and Gary Wang (CTO), the company has grown to become the world’s largest derivatives crypto exchange platform, with a market valuation (net worth) of $25 billion as of October 2021.
The exchange platform offers innovative products such as:
Industry-first derivatives
Options
Volatility products
Leveraged tokens
with the goal of developing a platform that is both robust enough for professional trading firms and intuitive enough for first-time users.
The platform also offers spot markets in over 100 different trading pairs, including:
BTC/USDT
ETH/USDT
XRP/USDT
FTT/USDT
* FTT is the exchange’s native token
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SEE ALSO: FTX Acquires Ledger X Sending $FTT Token Price to All-Time Highs
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FTX Exchange Fundamentals
FTX’s diverse product offering and user-friendly desktop and mobile trading apps make it suitable for crypto investors of all skill levels, from novices to seasoned professionals, or, in crypto jargon, from whales to newbies.
The FTX trading platform supports a wide variety of order types, ranging from simple market orders to more complex trailing stop orders.
Here are some features of the exchange:
As of Q3, 2021, competitive trading fees for futures and spot markets range from 0.07% – 0.04%, based on the maker and taker model
Meanwhile, leveraged tokens have a 0.1% creation and redemption fee as well as a 0.03% daily management fee
FTX accepts ten fiat currencies for deposits and withdrawals via wire transfer: USD, EUR, GBP, AUD, HKD, SGD, ZAR, CAD, CHF, and BRL
FTX does not charge deposit or withdrawal fees for crypto assets, however, fiat withdrawals of less than $10,000 are subject to a $75 fee
In terms of why you should trade with FTX, the exchange offers a number of benefits.
Top Perks
Fees are low
One of the most appealing aspects of FTX is its low trading fees.
Fees for makers and takers begin at 0.10% – 0.40% respectively.
Taker fees are applied to orders that are filled immediately while maker fees are applied to orders that are not filled immediately.
These starting rates are already lower than those charged by many of the best cr
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