What is Fantom?
FTM is really how crypto should be. It is fast and practically free. It’s just a straightforward joy to use.
When using Defi on FTM it is very smooth and easy, lots of really solid projects there and a great community.
Whats great about Fantom is that it is fast and cheap. Fantom can confirm transactions in less than 2 seconds, and they cost a fraction of a cent, or $0.00001. So these factors make it very worthwhile in the crypto space.
With that in mind another thing that is great about Fantom is that unlike many other blockchains, Fantom is not a fork of Ethereum. It’s built completely from scratch using an innovative consensus algorithm designed for high performance and scalability.
Fantom supports the Ethereum Virtual Machine.
What does it mean?
Wel that it mean is that developers familiar with Ethereum can easily deploy their dApps on Fantom just as easily, using the same tools such as Truffle, Remix, and Metamask.
Their dApps will be much cheaper to deploy, maintain and interact with. The causes user experience is therefore drastically improved, because of the almost instant confirmations.
Where and How To Buy Fantom UK
Step 1: Register on Binance
Well what you need to first is get on binance, because binance has everything in one place that you will need to trade and get fantom, plus many other coins that are not available on other exchanges, it is one the biggest in the world with lots of buying and selling volume so getting hold of your coin will be no issue at all.
When you are creating your account make sure you use a safe password, and your email. Also remember when you input your name DOB and address you need it to be 100% accurate so make sure you do not mis type anything.
This is because you may have to send in your I.D to give your account security, which is normal to have KYC on anything financial related. Along with this make sure that your mobile number is again a working one that you use as you will need a text code when you sign into your account.
These steps are needed for keeping your account safe.
These steps will not really take that long and within 20 minutes you will be all done.
Step 2: Use your Fiat to buy Bitcoin
So when you get on binance you will need to use your account to buy some BTC with FIAT, you can use your debit card for this, or if you can wait a little long do a bank transfer and avoid the small fees.
And i do not recommend buying your crypto on another platform like coin base then moving it across like i have seen on other guides, this is just going to rack up more costs for you with fees when you move it onto binance. So by staying on binance we will keep the costs down.
To do this click on buy crypto button and you will see the image above.
Step 3. Use the trading platform to trade for Fantom FTM
Next up we need to trade our BTC for FTM to do this all we need to do with go on this image above. To get here click on trade, then basic. And you will see this set up, and where i have, you need to type FTM which will get you the fantom/btc trading pair.
Since we already bought BTC earlier this step will be easy to get FTM, click onto the pair and you will be ready for the next step to buying fantom on binance
You will see this next, where you can use your BTC to trade it for FTM.
Now with this you have a few different ways to buy, so you can firstly buy in increments of 25% 50% or 100% of your BTC in the wallet.
Also with this you can see limit order and market order, these are the two buying methods here, if you are a complete beginner i would suggest clicking market price as its the quickest and easiest method.
But if you are a little more advanced click on limit order and you can choose your own price, with the prices currently being sold on the left you can wait to try and get it at a better price, you can set a buy order at a price and walk away and come back later. I would recommend if you are good with TA and good at price predictions
So why should I buy Fantom?
The full Ethereum compatibility makes Fantom interoperable with Ethereum. Ren is building a bridge between the two networks to allow a seamless flow of assets back and forth.
Fantom is a layer 1 platform that can serve as a layer 2 for Ethereum. In other words, it can help Ethereum scale, among many other things.
Just the other day Andre tweeted that FTM was never meant to be an ETH killer, but ETH simply needs some load balancers to help out. What FTM is doing for ETH is going to be huge.
You can stake it to earn rewards
Fantom is a Proof-of-Stake network. It means that you can participate in securing the network by staking your FTM. But it doesn’t end there. You can choose for how long to lock up your tokens for and get rewarded accordingly; the longer you lock your FTM, the higher the rewards. Furthermore, Fantom is the first network to introduce Liquid Staking. You can use the value of your staked FTM within the ecosystem. Massive.
There is also a governance system where holders can vote on the changes of the protocol.
Humble brag: I’ve been staking for almost 2 years and have earned over 100K FTM passively.
It has an all-in-one DeFi suite
The team didn’t just build an incredible blockchain platform that is fast, scalable, and secure. They also created an all-in-one DeFi suite, Fantom Finance. DeFi users are used to jumping across different protocols and websites to trade, lend, borrow and farm. Fantom Finance solves all that.
Users can mint synthetic tokens (like on Synthetix), trade on an AMM dex (like on Uniswap), and borrow and lend tokens (like on Aave), all in one place, directly from the wallet. How cool is that?!
It has already partnered with many recognized crypto projects
Fantom partnered with:
-Ethereum Classic Labs
And many more
It is still undervalued in my opinion
Fantom is sitting around a $2 billion market cap with a token price of $0.78. Despite its recent rise, Fantom is still vastly undervalued. Avalanche offers a similar tech, without the integrated DeFi suite, and it’s valued higher at $2.4b. Solana, a fast blockchain yet not compatible with EVM and slower than Fantom, is above $4b. Aave, a dApp on Ethereum that would represent a part of Fantom Finance (so a part of a dApp on the Fantom ecosystem), is valued just under $5b. The proper comparison should be made with Ethereum, valued at $188b. In my opinion, the potential growth for Fantom is another 3x in the short term and the sky is the limit long term.
It has a passionate community and strong social presence
The Fantom Marines are one of the best communities in crypto. They’re organized like a proper army. They’re knowledgeable, and their Twitter presence is a force of nature. They’re similar to the Link Marines. They act as one. Memes, articles, videos, gifs, you name it. They can do it all.
It has multiple government pilot programs and partnerships
If you’re still with me, you made it to one of the most exciting parts.
Fantom is reshaping the country of Afghanistan. They have not one, not two, not three, but four government live pilot programs with Afghanistan. The first one, launched in July 2020 with the Minister of Health of Afghanistan, leverages blockchain technology for pharmaceutical supply chain tracking to combat counterfeit drugs. More recently, Fantom partnered with DABS, the national energy company for Afghanistan, to build blockchain-based ERP and CRM systems. Another program involves the Afghanistan Chamber of Commerce and Investment to implement blockchain tools for auditing and authentication purposes. The team aims to digitize the whole country of Afghanistan and ultimately build a national stock exchange on the Fantom blockchain. The latest pilot program is with The Afghanistan National Standard Authority to use Fantom technology to issue national certifications.
Also the announcement was very recently made that The Ministry of Digital Transformation of Ukraine has signed a memorandum which provides for cooperation in creating a platform for the exchange of intellectual property based on the Fantom blockchain
It has a transparent and humble team
The Fantom team is very transparent and humble. They communicate promptly – they have one of the most active Twitter accounts in crypto, they’re hard-working and as clear as they can be with the community. It almost feels like the team is part of the community. Besides their official chat on Discord, they also offer a support chat on their website, unheard of in crypto. Their Github is updated frequently, almost daily, and it’s easy to see what they’re working on at any given time.
It’s getting integrated everywhere
Besides centralized exchanges like Binance, Fantom is taking over the DeFi space. It’s listed on Uniswap, Sushiswap and 1inch. Just this week, Binance integrated FTM Opera Chain for deposits & withdrawals. It’s just the beginning. We can speculate that once the Ren bridges are in place, there will be more integrations on Ethereum. We can think of Yearn, Curve, and all the biggest DeFi money markets.
It’s on Coinbase Custody
Coinbase Custody is the most important crypto custodian in the world and it supports Fantom. Institutions and funds can now safely store their FTM with a trusted third party. It’s the first step to getting listed to Coinbase.
Etherscan has built an explorer for them
And there you have it. I hope this helps paint a picture of why FTM has been shooting up the rankings. I still think there is a lot to come, but again, this is not financial advice. Good luck to all!
With that all said if you want to get started today sign up to Binance now.
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