The world of cryptocurrency is constantly evolving, with new innovations and platforms emerging every day. One such platform that has gained significant attention is FTX Exchange. In this article, we will take a closer look at what FTX Exchange has to offer and why it has become a leading player in the crypto derivatives market.
FTX Exchange, in partnership with Binance, is a Hong Kong-based cryptocurrency derivatives exchange that is designed specifically for professional and intermediate-level traders. Unlike traditional spot trading, derivative trading on FTX is more complex and carries higher risks, making it less suitable for beginner investors. This platform is better suited for experienced traders who are looking for advanced trading options.
Founded in 2018 by Sam Bankman-Fried, a former trader at Jane Street Capital, FTX Exchange was created by a trader for traders. Before launching FTX, the creators established Alameda Research Ltd in 2017, which is a prominent liquidity provider for crypto. Alameda Research assists FTX in maintaining order books and providing 24/7 OTP service.
FTX Exchange has gained significant backing from various crypto ventures, including Binance, FB Capital, Greylock Partners, Kenetic, One Block Capital, and Proof of Capital. This backing has contributed to the stability and trustworthiness of the exchange.
In terms of rankings, FTX Exchange is rated ‘A’ for its transparency and is ranked #3 among 434 different derivative exchanges. With over 1497 markets, FTX Exchange offers a wide range of fiat and cryptocurrencies for trading.
One of the standout features of FTX Exchange is its ability to offer leverage of up to 101x, allowing users to potentially earn substantial profits. Leveraged tokens, which were first introduced by FTX, have also become a popular feature among traders. FTX Exchange also offers quick fiat transfers, easy stablecoin settlement, and the ability to use a range of cryptocurrencies as collateral.
When it comes to fees, FTX Exchange offers some of the lowest trading charges in the market. Most features, including OTC trading and future settlement, are free of charge. The trading fee ranges from 0.07% to as low as 0.04%, with lower fees offered to traders with higher volumes.
FTX Exchange uses its utility token called FTT, which provides various benefits to its holders. These benefits include trade discounts, raised referral rates, bonus votes, increased airdrop incentives, and maker free rebates.
In terms of security, FTX Exchange employs standard bank-like security practices, including cold wallet storage and two-factor authentication. The exchange conducts regular security checks with the help of third-party companies like Blockchain Consilium.
It is important to note that FTX Exchange is not regulated and is not available for users in the United States. However, FTX.US, a partner company of FTX, offers similar features and benefits for US traders.
In conclusion, FTX Exchange is a leading cryptocurrency derivatives exchange that offers innovative features and products for experienced traders. With its transparency, low fees, and secure platform, FTX Exchange has become a popular choice among traders in the crypto market.
