Learn all you need to know in this FTX US review before you sign up with the exchange, as this article, we’ll be reviewing on FTX US, is it legit or scam? What they entail, how they work. We will also be taking you through an overview of their trading services.
First, we’ll take a look at an overview of what Crypto exchange is. Sources have proven that over the years, major financial institutions and individual traders had grown interest and desire for Cryptocurrency, having grown into a pretty unstable commodity.
Finding a reputable platform is important, for everyone wants to currently dabble in cryptocurrencies. However, on your cryptocurrency exchange adventure, this article is designed to help you reach educated decisions, as more trustworthy exchanges are needed while considering cryptocurrencies.
Due to the continuous advances in technology, it is clear that coins are now easier to purchase, sell, keep, and exchange. A Bitcoin investment, is a typical instance, requiring you to first open a cryptocurrency exchange account. While evaluating any exchange, it is advisable that you consider the exchange’s security and privacy, the transaction costs, volume, volatility, simplicity of use and service are some key qualities to be expected from an exchange.
In this article, we will be taking you through everything you need to understand about the FTX US exchange. Without any addle, FTX US is one of the best and leading exchanges for getting started in the crypto realm.
FTX US Exchange
Here is a tabular analysis of exchange operations of FTX US
|Exchange platform||FTX US|
|Trading Platform||Web-based and Smart Phone Application|
|Payment Method||Initiates; Silvergate Exchange Network (SEN), Cryptocurrency, Wire Transfer, ACH, Debit or Credit Card.|
|Withdrawal Method||Initiates; ACH, Silvergate Exchange Network (SEN), Wire Transfer, Cryptocurrency|
|Customer Support||Email, Telegram, Phone|
What is FTX US?
In this section, we will be taking you through some important information you need to know, about FTX US.
FTX US is an exchange platform, developed in the United States, for traders by traders, when discussing Cryptocurrency exchange, making provision for a wide range of special products, such as volatility products derivatives options including leveraged tokens that are market firsts. The FTX US is aimed to develop the digital currency ecosystem, that will make provisions for American investors with a way driving their devotion, and become a market leader in the US cryptocurrency industry, In the next two years. However, while comparing FTX US to other major US platforms, FTX US also make provisions for LTC, ETH, Bitcoin Cash (BCH), BTC, PAXG, and USDT. In FTX US, it is important to bring to your notice that it is quick and easy while depositing and withdrawing fiat, alongside, in order to increase liquidity and simplicity of usage, USD and Stablecoins have also been effortlessly incorporated into FTX US’s platform. Following the fact that FTX US is aimed at making out as some of the world’s most effective organizations. It is important therefore to note that workers and associates of FXT US in order to help save lives, reduce misery, and secure a prosperous future, have raised nearly $10 million in motion.
FTX US Trading Services
In this section of the article, we will be navigating FTX US trading services: FTX US offers trading services, ranging from Margin trading to Advance Order types. And transactions on the platform are carried out with lightning speed, as soon as money has been placed into a wallet.
- Margin Trading
While on Margin trading, it is required that you have a minimum amount of assets, we’re on the spot rate, qualified customers are been privileged to leverage up to 10x. Having enough Margin in your account requires you to have completed all required steps and can place orders that demand more tokens than you have.
This service made the provision of converting one spot asset into another, immediately, without needing to utilize the trade book by using the conversion feature of the trading platform. On this platform, you can convert your tokens to fiat currency or vice versa with just a few clicks, with no fee attached.
A Subaccount makes provisions that allow traders to trade only with the number of funds transferred to it. However, to use the monies in the Subaccount, there are no other options for trading or converting except but having this account network will be helpful if you’d want to split distinct traders, tactics, or positions from the rest of your portfolio.
- Order Limits and Price Bands
This feature on FTX US allows its customers to forward to the other side of the book, so far the order is greater than 25%. Also, if liquidity is poor compared to the order’s size, a market order can only be partially completed. However, it is important to note that there is a limit to the number of pending requests per side of the coin.
- Advanced Order Types
To cap it, it is important to take note that FTX US supports Stop-Loss Limit, Stop-Loss Market, Trailing Stop and Take Profit Limit orders, including Take Profit Limit features, while trading.
FTX US Fees
In this section of the article, we will be taking you through some FTX US fees that you need to consider while trading with them, as transaction costs are a crucial, indicator of a reputable exchange. With regards to the fact that no one would want to pay a hefty cost for a transaction that yields less than the fee, so a good exchange company should be able to provide its consumers cheap transaction fees, in a way that they will be able to afford the costs they pay. More on this, sources have proven that FTX US refunds any costs you spent beyond what your new volume tier would have caused, as a way of helping its users ramp up their trading. While trading with FTX US, do know that NO referral fee is included and charges on margin lending.
- Wire Fees
It is important to note that there is a 1% charge on USD deposits and withdrawals when using USD wire transfers to deposit/withdraw funds. Although it cannot exceed $35 or go below $5 as FTX US reserves the right to levy a fee of up to 5.1 per cent (currently fixed at $35).
- ACH Fees
For first-time ACH depositors, it’s proven that the typical charge for ACH transactions is $0.50. ACH fees are waived. For traders that haven’t made an ACH deposit for at least a week, there is no charge attached.
- Crypto Fees
More also, it is good to hear that when using the platform as a payment method, it is free of charge, as FTX US does not pay the transaction blockchain costs for ERC20/ETH and Omni token transactions. However, it is important to note that it does pay the fees for all other tokens.
In this section of the article, we shall be navigating how referrals work on FTX. While trading with FTX U, there is a provision of 30% fees and 5% cashback, in as much as the new user registers with your referral code and uses it to sign up. However, do note that if any trading has occurred, referrals cannot be applied retrospectively. It is also important to note that the program does not appreciate consumers, recommending him/themselves. If found out, your FTX US referral program may be halted, and after biding on a brand, your referral program tends to return to zero.
In this section of the article, we will be taking you through some of the VIPs privileges that are available on FTX US As a FTX US’ VIP you are privileged to enjoy a variety of perks, which includes but are not limited to the following: As a VIP1 or VIP2, you are entitled to a taker fee, worth 0.04 per cent and as a VIP3, you are also entitled to a taker fee, worth 0.025%. As a FTX US’ VIP, there is a provision of a meet-up opportunity, a dedicated account manager and flexible API limitations, including direct access to a senior developer for API queries. However, there are no referral fees attached with VIPs, but VIPs may still suggest other traders and be entitled to commissions for doing so.
Cryptocurrencies Available on FTX US
Corresponding to the fact that a typical sign of a strong balance sheet for any financial planning and analysis site, as always been a good trade frequency. Giving privileges to its dealers to trade quicker and at the cheapest rate. With efficient and low-risk highly liquid monetary markets. In this section of the article, we will be taking you through some of the cryptocurrencies that are available on FTX US. To start with, FTX US make provisions for digital currencies, that provides a long-range of fiat currencies, such as the GBP, USD, and EUR. Ethereum, Ripple, Dogecoin, Bitcoin and Litecoin are a few of the more prominent digital currencies that may be traded on the site. Also, it is important to know that FTX US also makes provision for the exchange of crypto pairings with the Stablecoin USDC. In FTX US, a Stablecoin’s movement is kept to an absolute minimum, following the fact that its price is connected to another asset like the U.S. Dollar, a digital currency or a unit sold on the exchange. For exchange against USDC, the company also make it possible to change with digital currencies like BTC, ETH and DOGE. It is quite important to let you know that the FTX US regulations in each location vary, due to the fact that FTX US is offered in many nations. However, when it comes to purchasing digital currency pairings, a lot depends on the local regulators. Because sources have proven that some nations only allow the trading of a few currency pairings. Corresponding to these facts, as an FTX US incoming customer, it is most advisable that you keep an eye on the accessible pairings that are permitted in your area. You may check the order book for any trading pair they are interested in as FTX US, is known, available and recognized in different nations, across the world.
Security and Safety
As a trader, your data integrity is prone to be your first goal when doing crypto exchanges. It is required that you take advantage of all of the security features your exchange has to offer, as the security of Cryptocurrency exchanges profiles depends entirely on the protections in place. To protect the personal information and funds of its customers, the record shows that FTX US offers a range of security measures (reminiscent of the traditional banking sector). As a result of the initiation of the two-factor authentication, keeping cold wallets, and similar measures to create a secure trading system, the record shows that there had been no security breaches or problems have arisen so far.
Our source has proven that this reputable company (FTX US) makes provisions for several customer support communication options, some of which includes; email and Telegram, among other more methods. At the bottom of each page on their website, is the “Help” link, serving as a helpful tool for beginners to get answers to common questions quickly. In addition, an API has been answered on the platform to the issues with account and KYC verification, cryptocurrency trading, FTT Token, FTX Trading Competitions, fees, transaction input and transfers and OTC, other concerns such API. Moreover, following the stats from TrustPilot, FTX US Exchange has secured a sustainable 3.2/5 stars review, including a few comments. And it is upsetting to see people posting false comments about them.
There you have it, is FTX US Legit or Scam? how it works, privileges attached to VIP programs, their service efficiency and some Cryptocurrencies available on their platform and some amazing facts about them. With this article, we believe by now, you should have known more about what FTX US entails and you can decide if it’s legit or not. You can check through this blog page for more articles like this.