Since the development of Bitcoin and cryptocurrency, many other blockchains have risen to adoption, each trying to be better and more efficient. One of the most successful is Fantom.
The Fantom blockchain attracted many users due to its faster and more secure network. It aims to solve the shortcomings of scalability and transactions costs on popular networks such as BTC and ETH. The Fantom project also supports smart contracts – programs set up to auto-execute decentralized applications.
Fantom’s native token, FTM, went on an over 200x bull run in 2021 from $0.016 in January to $3.48 by October. It has corrected and retraced some of that move in 2022, presenting an opportunity to buy the dip for the next bull cycle. In this guide we’ll review where to buy Fantom’s crypto token FTM.
How to Buy Fantom – Quick Guide
It’s possible to buy Fantom in the US , as well as Europe, the UK, Australia and most of the world. As well as being beginner friendly it’s a safe and regulated crypto platform. Follow these steps:
- ✅ Step 1: Create an account – Create an account with the broker of your choice. Input some personal details and upload the necessary documents required for verification.
- Step 2: Deposit – Add funds to buy crypto, in this case to buy FTM.
- Step 3: Search for Fantom – A search in the top navigation box will bring up Fantom token.
- Step 4: Buy Fantom – On the Fantom news feed and price chart, click ‘Trade’. Enter an amount to invest in Fantom and click ‘Open Trade’ to confirm the transaction.
Where to Buy FTM – Best Platforms
Due to its popularity and over 20,000% bull cycle in 2021 the Fantom crypto asset is in high demand and listed on many crypto exchanges. We list three of the best platform to buy Fantom below:
1. Bitstamp: Regulated Platform to Buy Fantom in US
Bitstamp is the 11th most used crypto exchange by volume, with over 4 million users in total in the United States and globally. It also has an advanced platform for day trading.
The Bitstamp platform offers around 45 cryptocurrencies including Fantom, with many popular altcoins set to be added in 2024. Bitstamp is known as one of the easiest ways to buy cryptocurrency with fiat – it accepts multiple payment methods such as bank account, debit card and credit card payments, and international wire transfers.
Bitstamp is one of the most trustworthy platforms, as it was founded in 2011 and has managed to last over a decade. Bitstamp listed Fantom in January 2022.
Bitstamp displays the best altcoins to buy each day in terms of their percentage gain or loss, and which are the most viewed cryptos. It also categorizes them simply into DeFi coins, NFT coins, and other markets.
Cryptoassets are a highly volatile unregulated investment product.
2. Crypto.com: Earn Interest on Crypto and Buy NFTs
Crypto.com has a large selection of cryptocurrencies when compared to most crypto platforms, with over 250 cryptocurrencies on its exchange.
There are no transaction fees for purchases made through bank deposits. However, the credit and debit card fees are significantly higher. The platform charges 2.99% for those payment methods.
The platform supports both spot trading and margin trading, so if you’re an experienced crypto trader and confident with leverage you can use its perpetual futures pairs. It also offers its own NFT marketplace.
Crypto.com listed Fantom in May 2021, and has its own native token Cronos, with the ticker symbol CRO.
One of the most popular unique aspects of Crypto.com is the ability to earn interest on Bitcoin, Ethereum and 50 other crypto tokens with its Crypto Earn program.
Currently Fantom crypto interest is not support but may be added in the future. Earning the highest APY requires buying and staking CRO.
Cryptoassets are a highly volatile unregulated investment product.
3. Binance – Most Renowned Crypto Platform in the World
Binance is mainly known for its high-speed trade execution, liquidity and low fees – Binance exchange has some of the
lowest transaction fees among its competitors when trading, with a 0.1% maker / taker fee.
That can be lowered further by signing up with a Binance referral link. The company was founded in 2017, in China. There’s a separate exchange, Binance US, that accepts American investors. However it does not cover all 50 states and less cryptos are available, for example XRP is not.
As for cryptocurrencies, there are over 600 of them on the Binance platform, including Fantom which it listed in June 2019.
Binance has a classic mode for beginners but overall is an advanced trading platform, with technical indicators from Tradingview integrated to use for technical analysis (TA).
Like all the crypto exchange platforms we reviewed, it’s also a great place to stake crypto.
Cryptoassets are a highly volatile unregulated investment product.
What is Fantom?
Fantom is a promising alternative to Ethereum and it’s blockchain featuring higher performance and a secure open-source smart-contract platform. The blockchain is built to be EVM-compatible and aims to solve scalability and high transaction charges, an issue in the Ethereum blockchain with its gas fees.
What sets Fantom apart from other blockchains is that a user doesn’t have to rely entirely on the Fantom primary consensus layer, but can create and launch contracts on independent networks.
Different features of Fantom crypto technology
Each application on the platform is present on its independent blockchain. The increased network size makes no compromises on performance, as every app built on the blockchain receives the same speed and security as the main blockchain.
Fantom came into existence when the founders wanted to start a digital revolution – one where everything and anything can be online and decentralized to change the way we operate as a civilization.
History of the Fantom Crypto Project
Fantom is a Layer-1 smart contract compatible platform founded by Dr Ahn Byung Ik and associates in 2018. The Fantom project is managed entirely under the Fantom Foundation, with Michael Kong as the CEO.
The development of Fantom was supported by the drive to provide a blockchain that supports the demands of a changing and more demanding world. Its consensus mechanism, Lachesis, is a better alternative to the popularly adopted mechanisms such as proof-of-work and proof-of-stake.
The Lachesis consensus layer can be extended even more to additional layers- creating a network ecosystem. Opera was the first additional layer to be created on the platform in December 2019. The alternative layer now supports many popular blockchain applications.
The Fantom crypto project has a long term outlook and roadmap, and continues to make efforts to be more secure, fast and cost-effective.
How Does Fantom Work?
Fantom follows the Lachesis consensus algorithm, which is known to provide quite a few advantages over its predecessors. Essentially, it allows for a user to build their blockchain over layer-1 and operate it independently without any compromise in performance.
Under the algorithm, participants have the liberty to process commands at different times. Every participant plays an equally important role in the production of a block. Unlike other blockchains, transactions on Fantom are processed in a matter of seconds, thanks to the architecture that does not require the nodes to communicate on a constant basis.
Opera is the Fantom network’s mainnet deployment platform that provides a permissionless and open-source ecosystem for the development of dApps. To improve on scalability, each dApp built on Fantom gets its blockchain, available to be customized as per specific requirements. However, each additional blockchain operates under the Lachesis protocol, borrowing its capabilities.
Essentially, Fantom is a better alternative for developers interested in building on the blockchain.
Fantom Price History
After its launch in 2018, the FTM token traded at roughly $0.02. From the first half of 2019 to as recently as early 2021, the Fantom price didn’t move for over two years – even trading lower than its launch price for months.
It then exploded, showing how buying crypto at a low price point and holding can be a good investment strategy. From the January 2021 low of $0.016 (still below the launch price even then) it exploded 21,700% to $3.48, before retracing 50% – showing the risk of buying tops in crypto.
Fantom price chart via CoinMarketCap
No one can predict where the top will be, but following the investing strategy of ‘buy low, sell high’ can return a high ROI.
The Fantom price today is $0.35, after putting in a 2022 low of $0.24.
The Fantom market cap is approximately $920 million – crypto assets with a market capitalization under $1 billion have room to grow. The Fantom maximum supply is 3,175,000,000, and currently 80% of Fantom coins are in circulation.
FTM Price Prediction
We wrote a detailed Fantom price prediction here.
In that post we reviewed the monthly chart from 2021 – 2022 and noted the FTM price is back at historical support levels from mid 2022, and may have bottomed based on its strong May 2022 bounce.
A return to the all time high from the Fantom price now would be an over 10x gain – a 1000% return on investment (ROI). As Fantom showed in 2019 and 2020, it can trade at a low price point then explode in value.
Recent Fantom price history 2021 – 2022
Fantom has a lot of long term potential. On the technical front, it’s pretty sound. The Fantom blockchain allows for smart contracts, which are faster when compared to that of Ethereum. There are multiple use cases for the Fantom token, including payments, staking, network fees and governance. It is also more secure when compared to most other blockchains.
A token’s price doesn’t always reflect its utility – the FTM crypto is down over 90%. Most of that however is a result of Bitcoin dropping to under $30,000 (then recovering that level), the LUNA crash – another DeFi protocol – and the stock market also correcting.
Best Ways to Buy Fantom
- Buy Fantom with debit / credit card – the most trusted fiat-on ramp to buy Fantom crypto tokens with a bank card is Bitstamp
- Buy Fantom with PayPal – some platforms accepts PayPal, making it a convenient option for you
- Buy Fantom without ID – to avoid KYC verification Fantom is listed on Bybit and Changelly which don’t require know-your-customer documents although are not regulated
- Buy Fantom in US – Bitstamp accepts residents of the United States
- Buy Fantom on leverage – Crypto.com and Binance have margin trading for altcoins, the perpetual futures pair is labelled FTMUSD-PERP on Crypto.com
Best Fantom Wallets
There are many third-party wallets that support Fantom such as Metamask however for security we recommend holding your Fantom crypto assets on a regulated exchange platform like Bitstamp.
How to Sell Fantom
Selling Fantom, or any other digital asset, is just as easy as buying cryptocurrencies. First, log in to your account by entering your username and password.
Head to your portfolio where you can access all the coins you’ve bought. Select a crypto you want to sell, Fantom in this case. Enter the amount, click on the red icon visible on the right side and close the trade.
Once completed, you’ll receive the fiat equivalent value of your crypto in your wallet. You can choose to either withdraw these funds or invest them in another cryptocurrency you think is a good investment.
While the process is simple, it’s important to remember that the decision of selling and buying crypto must be well thought out. The crypto market is highly volatile and making a panic sell or a panic buy may not be the best decision. However, buying the dip can turn out to be extremely lucrative if you invest in a coin you’ve studied. Make informed decisions.
Conclusion
On a fundamental analysis level, Fantom is among the few blockchain technologies that hold a lot of promise. It outperforms Bitcoin and Ethereum for network speed, security and has an innovative consensus mechanism. On the investment front, Fantom has underperformed so far in 2022 but in the long term appears to be a strong candidate.
Many crypto investors consider the Fantom token undervalued. In 2021 we saw once buying volume comes in FTM can make high gains in a short space of time. Being listed on major exchanges helps with that.
The Fantom network has expanded worldwide, establishing connections with Asian countries and collaborating with major industries such as pharmaceuticals and food production. The FTM crypto token price should reflect the progress made on the Fantom roadmap over time.