FTX is now one of the most well-known names in the bitcoin exchange sector. In just a few years of existence, the platform appears to have exploded in popularity. Are you unsure about what is FTX? Or do you want to learn how to utilize it, this article is for you. To be honest, incidents like these are somewhat likely with FTX. While the exchange is, obviously, highly popular, it is also far from straightforward to use or navigate through. This is especially true if you’re new to the business.
The problem above arises because there are various options for consumers to explore and use. All of those aspects may soon become complicated. Additionally, when combined with a beginner’s lack of knowledge, it can rapidly become irritating. But don’t worry, that’s exactly what I’m here for.
What is FTX: An Overview
Before we go into the nitty-gritty specifics of what is FTX, we must first address the fundamental question. To be honest, I’ve gone into great detail about this in a separate FTX review. If you’re looking for a general review of the platform, we still need to talk about what is FTX.
To begin, one of the primary reasons for FTX’s popularity is that you’re reading this “what is FTX?” lesson in the first place – the exchange boasts many features! Aside from standard crypto trading and storage, the site also offers other features. These features include FTX staking, FTX futures, derivatives, charity, and various other features.
Following that, FTX is well-known for its cost structure. You should expect to pay 0.02 percent and 0.07 percent in the market maker and taker fees, respectively. Such figures are highly unusual and are a massive draw to get the most out of their transactions. The FTX wallet and exchange also support over 250 additional crypto assets. Whether you’re new or a seasoned pro, you’ll be able to take advantage of the simplicity of this platform.
While researching what FTX crypto is, you will undoubtedly come across other features and perks related to the exchange. If that’s something you’re interested in learning more about, make sure to check out my dedicated FTX review. For the time being, though, you should have a good understanding of what the platform is all about. With that stated, let’s get into the FTX wallet and exchange guide.
How to Use FTX
We’ve established that FTX offers various features and functions for users to employ. We’ll focus on the “hottest” and most important of those aspects in our “what is FTX?” guide. We can talk about the platform’s charitable side of the many venues to acquire FTX tokens. The FTX KYC and trading functionalities are arguably more important to the typical user.
Step 1: Navigate to the official FTX website. Click the “Create a free account” button in the upper-right corner of the page.
Step 2: You will now have to create an account by entering your email address and creating a password. Alternatively, you may join up through Apple or Google.
Step 3: After signing in for the first time, you will experience the FTX KYC processes. It’s no secret that FTX KYC is one of the industry’s most stringent “Know Your Customer” verification processes.