what is FTX why it is famous in crypto currency market

What is FTX? Why it’s so popular?

FTX exchange is one of the well-known centralized crypto currency exchange founded in 2018 by trader Sam Bankman-fried. The company is currently incorporated in Antigua and Barbuda having, whereas its headquarter sits in the Bahamas.

The platform allows you to trade a wide-ranging products. For example – you can trade derivatives, options and other highly volatile products as well.

The Fundamentals of FTX Exchange

All products offered at FTX exchange are tradable using FTX desktop application and mobile apps.

From newbies to seasoned investor in crypto market, FTX has long been quite popular.

Such as, the platform equips almost every ORDER TYPE.

Beside, traders can also place complex trailing stop orders.

For the transaction, U.S. dollar, Australian dollar, euro, British pound, Canadian dollar, Brazilian real, Swiss franc, Ghanaian cedi and Argentinian peso are acceptable to trade products at FTX.

But the interesting thing is, you can’t officially use FTX if you are a U.S. resident.

Due to some legal reasons, all U.S. residents needs to access FTX.US website to start trading at the exchange.

The crypto exchange platform doesn’t charges fees on deposit and withdrawals.

But it does charges trading fees against its assets and the fee can go anything between 0.04% to 0.07% respectively.

However one thing is certain that the platform isn’t built for small investors.

It is for this reason that the broker charges 0.1% fee on on small bitcoin withdrawals.

Similarly, no fees are charged on fiat withdrawals above $5,000 USD.

Well, the chief reasons that drew popularity to the FTX was its founder himself Sam Bankman-Fried an American entrepreneur, investor and a former billionare.

People were greatly influenced by the story of Sam Bankman-Fried and how he used the crypto to increase his wealth.

Similarly, FTX exchange lower trading fees also became the second reason that grabbed investor’s focus at the Sam Bankman-Fried company.

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