How to Buy FTX Token (FTT) on eToro: Fees, Features & Step by Step Guide

Summary

FTX token is the native cryptocurrency of the FTX trading exchange, a spot and futures cryptocurrency trading platform founded by Sam Bankman-Fried. On July 27, 2019, the FTX Token was released privately and now has a circulating supply of 328.9 million FTT. It enables users to engage in various activities on the platform, including spot trading, futures trading, over-the-counter transactions, and staking. 

On the eToro state–of–the–art platform, users can buy FTX tokens and other digital assets safely using a variety of payment options. Making an account is quite straightforward on this broker and clients need to follow the KYC procedure to verify their accounts and start trading. 

After signing up, clients can choose a payment option of their choice to fund their accounts, such as credit cards, debit cards, bank transfers, or e-wallets, such as Skrill, Neteller and Paypal. Remember that depending on the payment option, funds may take time to reflect in your account. Once the deposit is made, search FTX token (FTT) on the search bar at the top of the eToro webpage. A new page will open in which all the details of the FTX coin will be given. Clients can purchase FTT using the “Trade” button. 

Let’s discover how to buy FTX tokens (FTT) on eToro using various payment methods.

Things to Consider when Choosing a FTX Token (FTT) Exchange

When choosing an FTX token Exchange, below are a few things to consider.

Location of FTX Token Exchange

When deciding where to buy FTT, location is crucial. Digital currencies are governed by intricate rules and regulations that vary widely between jurisdictions. When deciding on an FTX token exchange, you should first and foremost look at the laws of the exchange’s host country.

List of Available Payment Methods

While FTX tokens can be traded for any other major cryptocurrency on most of the largest crypto exchanges, there are a number of costs to consider before making a purchase. FTX tokens may be purchased with a variety of convenient payment options outside just digital currency. This means you have to check which marketplace accepts your chosen payment option.

How to Check the Cost and Fee

While buying FTX tokens, fees are an important metric to consider when deciding on a crypto exchange. While it’s a good idea to check out the fees of various reputable exchanges, you should never fall for scammers or suspiciously cheap exchanges. It’s important to note that fees can and do fluctuate, so be sure to check the rates page of the marketplace before making any commitments.

Volume Listing

A reputable exchange often includes a listing-by-volume interface where buyers and sellers can view a list of orders. Many people look to this feature to determine if a cryptocurrency exchange can be trusted. The enormous number of purchases made in this market is directly responsible for its popularity. Some markets may choose to conceal or otherwise limit user access to their order books. This may send up a red flag for some investors because transparency is typically viewed as a desirable quality in crypto exchanges. To be on the safe side, you should stay well away from any company that conceals its order books.

What you need to know before Buying FTX Token (FTT) on eToro

When considering how to buy FTX Token (FTT) on eToro, there are some key things you need to know about the broker. Having its registered offices in the UK and Australia, eToro is a regulated platform in the UK, Australia and other countries. 

To get started, eToro offers a low minimum deposit requirement of just $50, making it accessible to traders with varying budgets. It’s important to note that eToro’s support for FTX Token varies by region, so before signing up, you should find out if it’s available in your area.

When it comes to trading FTX Token on eToro, you can do so through either CFDs (Contracts for Difference) or by buying the actual coins. Real coins are not always readily available. Therefore you should verify this before making a trade. Later in the article, we’ll delve into this topic in depth.

It would help to consider the costs of trading FTX Token on the broker as well. This includes the spread, which is the difference between the buy and sell price, and any commission or overnight swap fees for CFD trades.

Finally, it is important to note that CFD transactions have special regulations regarding leverage limitations if you are located in Europe. For instance, as per ESMA the retail clients in Europe can only access leverage of 1:2 on trading crypto. Traders outside Europe, Australian traders for example, can also access 1:2 leverage while trading crypto in compliance with ASIC regulations.

Types of Platforms Offered on eToro to Buy FTX Token (FTT)

Allowing users to access their accounts and trade from their preferred device, eToro typically offers both a desktop platform and a mobile app for trading. The broker offers its proprietary web-based and mobile trading platforms with advanced trading charts and technical indicators for the convenience of their wide consumer-base.

Desktop Platform

The eToro desktop platform is a web-based platform that can be accessed via a web browser on a desktop computer or laptop.

Mobile App

The eToro mobile app typically offers similar functionality to the desktop platform, allowing users to trade and monitor their accounts on the go.

As such, it is important to verify that the exchanges you have shortlisted support your chosen trading platform.

How to Buy FTX Token (FTT) on eToro

eToro is a reliable and safe crypto exchange to buy cryptos from. Users can buy FTT on this broker using various payment methods. The following is a comprehensive guide that will lead you to know about purchasing FTT on eToro.

A Step-by-Step Guide on How to Buy FTX Token on eToro

1. Go to the homepage of eToro.
2. Click sign up. You can also register using your Facebook or Gmail account.
3. Follow the KYC procedure.
4. Fund your account using the available payment and currency options. You can also deposit up to $2250 without getting verified.
5. Search FTT in the search bar and select FTT.
6. Select Trade and buy your desired number of FTT units.
7. Select “Open Trade” to confirm your transaction. Choose ‘Trade’ and then ‘Order’ to place a limit order rather than a market command at the current FTX price. You can wait for FTX’s value to drop again before deciding how much to pay for some of it. Initiate the limit order by selecting “Set Order.”

How to Open a FTX Token Trading Account on eToro

1. Click on the website’s sign-up button.
2. Register with your email address or a Google or Facebook account.
3. Then, proceed by clicking on the “Continue” button.
4. Next, enter your basic personal details including your full name, gender, and date of birth. Make sure they match your passport or ID.
5. Next, enter your current address.
6. Follow all the steps and answer all the questions. For complete verification, you need to upload your identification documents or enter your national ID card number. Select “confirm” to complete the process.
7. To use eToro to buy FTT, a user must first deposit funds into their account. Select the payment method you want to use to deposit funds.
8. After the payment module, search “FTT” on the search bar.
9. Click “Trade”. Your wallet will get an equal amount of FTT.

How to Buy FTX Token Using Visa or Mastercard Credit Cards on eToro

1. Go to the eToro exchange where you want to purchase FTT.
2. Give your ID so that it can be verified.
3. Purchases under $2250 can be made without a valid ID. To be able to deposit more, it is advised that you have your account verified. Type your wallet’s address in.
4. Click on ‘Deposit’, select the credit/debit card option and give your credit card information.
5. Enter FTT in the search bar. Click ‘Trade”.
6. To receive FTT directly into your wallet, authorize the payment.

*Note that fees and charges may apply.

How to Buy FTX Token Using Visa or Mastercard Debit Cards on eToro

1. Click this link to go to www.etoro.com 
2. To sign up for a new account, go to the Sign-Up page.
3. If you want to deposit money without a photo ID, you can put up to $2250 without a photo ID. But it is highly encouraged that you verify your account to remove limits on how much you can deposit.
4. You can put money into your account by using a debit card. Your first investment should be at least $200. But after that, you can put in as little as $50.
5. Search for FTT in the search bar, then click Trade.
6. Click “View” and enter the amount you want to pay for FTT.
7. Click “Open Trade” to finalize the purchase. The FTTs you bought will be sent to your wallet right away.

How to Buy FTX Token Using Paypal on eToro

1. Visit the broker’s website and click on login at the top right hand side.
2. On the left hand side tab, click “Deposit Funds”.
3. Choose Paypal as payment option. Note that Paypal is not available for first-time deposits. To continue with the payment, click next.
4. Enter FTT in the search bar and click on Trade.
5. Choose how many FTTs you want to buy and click on “Open Trade” to complete the transaction. 

How to Buy FTX Token Using Skrill on eToro

1. Log in or Sign up if you are a new user on the eToro home page.
2. Follow the KYC procedure in case of sign-up.
3. Deposit money using Skrill.
4. Search FTT in the search bar.
5. Click “Trade” in the upper right corner or on the search page to buy FTX.
6. After that, a box appears. The minimum exchange amount is $10. Add the amount you want to exchange for FTT or select “Units” to buy FTT.

How to Buy FTX Token Using Neteller on eToro

1. Open the eToro homepage.
2. Click sign in or sign up (for newcomers)
3. Follow the KYC procedure to get verified.
4. Enter the currency in which you want to add funds.
5. Fund your account using Neteller.
6. After funding, search for FTT in the search bar.
7. You can see a new window containing all the information about FTT. Click Trade.
8. Enter the amount you want to exchange for FTT or select “Units” to buy FTT.

How to Buy FTX Token Using Bank Wire on eToro

1. Click on “Start Investing” and create an account.
2. Once the verification is done, fund your account by clicking on “ Deposit Funds”
3. Select bank transfer and copy your bank details.
4. After the deposit, type ‘FTT’ in the search bar.   
5. Decide how much FTT you want to buy. Click “Trade”.
6. Click “continue” to complete the transaction and receive the FTT in your wallet.

Buying FTX Tokens Vs Trading FTX Token CFD at eToro

Investors can buy FTX tokens or trade its CFDs at eToro. When buying FTT, you purchase the underlying asset and become an owner of the cryptocurrency. You can store the FTT in a secure wallet, like the eToro digital wallet, and benefit from potential price increases if the demand for FTX Token increases in the market.

On the other hand, when trading crypto CFDs, you are speculating on the price movement of the asset without actually owning it. Traders can possibly take advantage of the price movement if it moves in either direction by opening long or short positions. Plus, leverage not only amplifies your potential gain but also increases the risk of losses. You can trade FTX Token CFDs on eToro’s user-friendly platform, with access to various trading tools and features. The leverage allowed in Europe is 1:2 in accordance with ESMA regulations. That being said, in some countries such as the UK, eToro does not allow trading of cryptos due to regulatory constraints.

Bottom Line

When it comes to crypto exchanges, FTX is one of the few that is profitable and has competent leadership in place. FTT tokens can be acquired through exchanges such as eToro and Bitstamp, serving as a convenient means to enter the FTX ecosystem for investment purposes.

We recommend eToro since multiple organizations supervise it and provide numerous services, including copy-trading, educational materials, and staking. When considering how to buy FTX token (FTT) on etoro, it’s worth noting that users can access various payment methods, including credit cards, debit cards, e-Wallets, bank wire, etc to deposit funds and buy FTT.