What is fantom ?

The fantom network is completely decentralized and open source. The native token is known as FTM and exists on multiple blockchains. The fantom network is highly scalable and transactions can be performed quickly at lower costs that provide strong competition to other blockchain networks and is built for the Internet of Things universe, the Fantom blockchain and token have seen a strong rise in interest from investors and adoption is increasing the fantom blockchain is working on building more cross chain bridges and its own version of fantom finance.

 

Today, we will be discussing what is fantom token where to buy fantom token what exchanges supports the fantom token how to trade fantom token. We will also discuss about fantom tokenomics and wallet supports.

 

So what is fantom token the Fantom network is based on a proof of stake model and has its own main net opera. The FTM token serves as the native token of the Fantom network and is used for payment of fees. The FTM token can also be staked to secure the network. The Fantom network has established a high threshold barrier for users wishing to stake tokens, thereby ensuring only serious node players apply for the program. However, the stakers can also delegate their voting power, and this enables even smaller holders to participate in securing the FTM network.

 

The Fantom network is highly scalable and independent, meaning the network can still run if there is congestion in some parts of the blockchain. This is done through fantoms native network program called lachesis, which divides the entire blockchain into smaller zones ensuring greater speed and faster transaction times. Fees are about one fraction of Fiat counterparts and a single transaction through FTM costs only about 0.0000001 dollars. Settlement times are also pretty quick and transfers can be processed in one second, the Fantom network is fully decentralized, meaning that stakers get the power to decide the future course of the FTM community. The holders of the FTM token can vote on governance proposals.

 

The Fantom network is compatible with multiple blockchains and is fully synchronous with the Etherion blockchain. The Fantom network is fully adaptable and built to enable the Internet of Things in Smart Cities. Talking about the tokenomics the initial total supply of FTM is 3.17 5 billion tokens. The Fantom token has a finite supply. The total supply is thus fixed at 3.17 5 billion as new coins cannot be created. Out of this total supply. 2.1 billion tokens are in circulation, while the rest are reserved for staking rewards. The all time high price of one FTM was $3.46 on October 28 2021, that is currently trading at $2.20. The all time low price was 0.001 $9. On March 13 2020. Comparing the all time low and the all time high price, we get returns of about 112,695%, which are very impressive returns, the FTM token has established its position as a leading cryptocurrency.

 

Now moving towards the supporting exchanges, the FTM token is available on most exchanges. It is a popular cryptocurrency and you can buy FTM on some leading exchanges, including gate.io l bank, bitmart by Nance, Coinbase, okex, Kraken and many more. You can also buy fantom through decentralized exchanges such as uniswap but we will be using bindings to buy fantom from there.

 

So let's go to the binding says official website and login. If you do not have a bindings user account, you can sign up and register. After logging in and completing the KYC. You can see we have a couple of options here. In order to buy the FTM from fake currency you need to purchase USD T crypto first and then convert that into FTM token. So let's add the amount through your credit or debit card here. Enter any amount you want to spend and select the USD T crypto. Then click on Continue button and you will be directed to add your card details. After adding your card details complete the purchase and you will see your purchased USD T crypto in the Biden's wallet. After that go to the Trade tab here and select Convert option to convert them search FTM from this option to exchange the USD T with FTM. Enter the USD T amount you want to exchange click on Preview conversion button here to see The amount of fantom tokens you will receive after the successful transaction, complete the conversion here and you will have successfully converted the USD T to FTM. And the token will be in the Bidens wallet. Another option to buy from his trade option here, click on Advanced and you will be brought up to this page. Here you can see the cryptocurrency name, current live price, buy and sell orders chart history and you can also do trading here. Go to the crypto Name option here and search for FTM token. In order to trade and purchase that select the corresponding crypto you want to trade with as USD T in our case, in this right section here you can see the current price of FTM. And below here you can enter the amount of USD t you want to trade with FTM. Let's say I want to trade 1000 USD T for FTM. Here you can see the number of fantom tokens you will receive after completing the trade. click on Buy FTM button here in order to place your order. After the order is completed the FTM tokens will be in your bindings wallet, the wallets that support the FTM token, our trust wallet, meta mask, wallet, connect, et cetera. All of these wallets can store the token and you can download the trust wallet meta mask and wallet connect apps on your mobile devices.