Let’s learn all about the FTX token What is FTT?

The FTX exchange is known for its strong foundation by the Alameda Research company. It lays the foundation for the development of the FTT token. With the continued growth of FTT and strong incentives from the FTX exchange, it has created “excitement” on the part of traders. Like this What is FTX FTT Token? Let’s find out in detail through the following article.

A brief look at the FTT FTX token

Learn more about FTX

FTX is known as an exchange, it specializes in providing users with derivative products. Additionally, FTX offers a number of cryptocurrency products. Highlights include MOVE contracts, margin, futures contracts, spot trading, etc.

In the Crypto market there is no one who has not heard of Alameda Research, it is known as the most important market maker and Alameda Research is also the founder of the FTX exchange.

FTX is loved and chosen because it has many more outstanding features than other popular derivatives such as free deposit and withdrawal, extremely affordable transaction fees, and rigorous security. Make transactions go smoothly, …

Learn more about the FTT token

FTT is intended as a native token of FTX. The FTT token was created with the aim of serving the ecosystem of the FTX exchange.

FTT tokens will be used by users as collateral for transactions, i.e. futures contracts and MOVE contracts. Or holders will receive a discount on transaction fees at the FTX exchange. Or those holding FTT tokens will receive a discount when participating in OTC trading sessions.

Like many other exchanges, coin burning will also occur, the FTX exchange will burn FTT tokens until they have half of the total stock left. Revenues used for the purpose of repurchasing FTT tokens and burning them make up one third of the fees and commission income on the OTC side.

The FTT token is a type of token operating on the Ethereum Blockchain platform and according to ERC-20 standards, in which the total amount of FTT in circulation reaches 348.069.291 FTT and the offer in circulation reaches 87.196.955 FTT.

Wallets that can safely store FTT tokens

As mentioned above, FTT follows the ERC-20 standard, so wallets that support ERC-20 can store this token.

If you are a person who regularly trades tokens and trades in large quantities, you may want to consider creating a wallet on an exchange that lists this FTT token. FTT listed exchanges can be mentioned besides FTX such as Binance, Huobi Global, BitMax, Fatbtc, CoinEx, Bitfinex, etc.

If you want to ensure the safety of your tokens, you can choose the hardware wallet Ledger Nano, Trezor and many others, it has the function of almost absolute protection of the security of the money in the wallet.

Or you want convenience, you can choose a soft wallet. The most popular and used soft wallets today can be mentioned as: MyEtherWallet or Meta Mask, …

Evaluate the potential of the FTT token in the future

To assess the value of this token in the future, it largely depends on the purpose for which traders participate in trading this FTT token. As the demand from traders increases, so does the value of this token and vice versa.

Although, currently, FTX exchange has many preferential policies to attract more people to trade. However, in the future, the FTX exchange is expected to offer even more preferential policies for users. For example, the reduction of transaction fees, preferential promotions for new users or rewards for referrals, etc.

Next time, FTX can make a buyback and burn tokens which leads to a shortage of supply, thus increasing the value of the FTT token in the future.

Furthermore, owning a very strong supporter like Alameda Research’s FTT token will also receive many support policies to help maximize the development of this token in the future.

One point in FTT that is hugely appreciated is that its value is estimated to increase more than 20 times the selling price in the first round of private sale, and most importantly, its price shows no sign of decreasing much when the private sale has been unlocked.

Answer to the question: “Should I invest in FTT tokens?”

First, let’s take a look at the current value of the FTT token. Through it, we can see the contribution and the right direction of their developers.

The current FTX exchange holds almost a lot of FTT tokens. Therefore, they can easily check this token. Furthermore, it makes the supply of FTTs outside the market rather small. But it also contributed in part to the steady but not too much growth of this token.

This token also has some strategies for development purposes. The FTX exchange creates many products and strongly believes that the FTT token will become the tool used to pay the commissions for the exchange’s transactions. And the countless advantages that FTT possesses to create potential in the future.

In conclusion, the FTT token not only has solid support from its founder, but is also surrounded by strong policies from the FTX exchange. However, there will be no specific advice for you. Just a close review for this FTT token. Through this, hopefully you can look carefully to make the right choice for you.

To conclude

Through this article, surely the brief information about the FTX FTT token has also added a lot of useful knowledge to you. I hope this article will help you answer your FTT questions. I wish you successful trading and see you in the next article.