FTX is a leading crypto derivatives platform, launched in May 2019, that partners with the world's largest crypto exchange, Binance. A cryptocurrency trading exchange registered in Antigua and Barbuda, headquartered in Hong Kong.
The CEO and founder of the exchange is Sam Bankman-Fried.
Before founding Alameda and then FTX, Sam was a trader in the international ETF division of Jane Street Capital. He traded various ETFs, futures, currencies, and stocks, and developed their automated OTC trading system. He graduated from the Massachusetts Institute of Technology with a degree in physics.
The team is also reportedly made up of representatives from Wall Street analytics firms and technology companies, including Jane Street, Optiver, Susquehanna, Facebook and Google.
FTX is a cryptocurrency derivatives exchange created by traders and designed to offer a powerful platform for professional trading firms, professional traders and beginners.
FTX offers a range of cryptocurrency-derived products that can be traded on the exchange using a single margin wallet. The offered trading products include:
- Tokens with up to 3x leverage;
- More than 100 trading pairs
FTX also offers a mobile trading app that supports Android and iOS. The app allows users to view the markets and trade anytime, anywhere. It includes the functionality of a full-screen chart, orders, positions, and basic graphical indicators. The functionality of the FTX app is similar to the desktop version. Traders can edit orders, check their trading history, and view market information.
FTX allows traders on the platform to use a wide range of deposit methods. These include cryptocurrency, stablecoins, or fiat currency. It is possible to use a credit card to purchase cryptocurrency directly through the FTX and Simplex platforms. The company was the first to use fiat cards using traditional bank cards (for example, VISA and Mastercard).
Alternatively, traders can transfer stablecoins such as USD, USDC, TUSD, PAX, BUSD, and HUSD to the platform. FTX will credit the user's wallet in a 1: 1 ratio.
Cryptocurrency Exchange charges the following fees:
- taker - 0.025%
- maker - 0.0075%
- Bitcoin - 0,00025 BTC.
FTX uses banking security features to ensure the safety of users ' personal information and the security of funds stored on the cryptocurrency exchange.
It also uses high-standard crypto security solutions, such as cold wallet storage, and two-factor authentication to ensure a secure and reliable trading environment.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.