Every user engaged in trading starts with the purchase of one cryptocurrency or another. That is not surprising at all! How to buy Fantom (FTM) on Binance? Let’s find out together! Let’s go!
How to buy Fantom on Binance?
It’s no secret that registration and authorization are mandatory processes on every platform. Choose the most suitable option on the main page.
Be aware that to fully use Binance, you need to go through a KYC process, which will require a passport and photo verification. This can take up to 10 days (though it is usually quicker). However, KYC is an obligatory standard procedure for registration on all trusted cryptocurrency exchanges, so do not let it scare you.
So, you are registered on Binance and have full access to its functionality. Now, you can make a quick FTM purchase using the “Credit/Debit Card” option under “Buy Cryptocurrency”. Luckily, it does not take long to find the important options. It is really cool!
First, determine the terms and conditions of the purchase. Let’s assume that you have chosen the currency pair: EUR (Euro) and FTM (Fantom). Secondly, specify the amount of fiat money. The system will automatically determine the amount of the coin. After that, all you will have to do is to click on “Continue”.
Agree to transfer and wait for the cryptocurrency to add to your account. That is the end of the buying process. Congratulations, you successfully became the owner of FTM (Fantom). You can now use this cryptocurrency for any purpose – for example, to transfer it into staking for a fixed income.
How to withdraw Fantom from Binance?
Keep in mind, that cryptocurrency on any exchange is not completely yours after all. The exchange may be hacked, or your account may be blocked by the exchange administration for some reason. In this case, you lose all your money. As practice shows, the hope for a return in such cases is very little.
It is much safer to keep any cryptocurrency in your own wallet, which you have much more control over than your exchange account. So, unless you have a compelling reason to have your FTMs in Binance, you may want to transfer them out of there into your wallet.
How to do it? Go to “Wallet” and choose “Fiat and Spot” (Deposit & Withdraw). Only then you will be able to go to the special page for withdrawals.
Initially, you need to set the classic settings: “Primary account” and “Withdraw”. These settings always look identical when it comes to withdrawing any digital coins from your account. Everything is very simple and straightforward!
Next, specify the cryptocurrency (FTM) and designate the withdrawal conditions – your wallet address and network (if you do not already have an FTM wallet, you can easily create one using the service https://fantomwallet.network/). Then click on the “Withdraw” button. Keep in mind that Binance, like any exchange, adheres to its own rules about fees!
Thus, you have successfully made a Fantom withdrawal from your Binance account. As you can see for yourself, there is nothing complicated about this process!
Now you definitely have an idea of how to become a Fantom (FTM) owner using the Binance cryptocurrency exchange. Certainly, in order to confidently make money on FTM as a crypto investor, you will need a deeper understanding of both the Fantom platform and trading in general. However, any journey starts with the first step. We sincerely hope you find this information useful and help you profit from investing in digital currencies!