Fantom is a smart contract platform that provides an environment for decentralised application (dApp) development. Fantom uses a complex Directed Acyclic Graph (DAG) protocol that enables it to provide infinitely scalable solutions in a diverse manner of ways. The applications of Fantom are vast, some examples include developing and linking nodes to act as a service regulator for smart city applications, and creating complex networks and nodes for the Internet of Things (IOT).
The FTM token is a Proof of Stake (PoS) that powers the fantom ecosystem. It is primarily used for fee collection, staking activities, rewarding users and as payment for network fees. Staking FTM forms an important part of its tokenomics and therefore a portion of the supply of FTM tokens are reserved for staking rewards.
You buy Fantom on the Australian crypto exchange, Swyftx.
Swyftx lists FTM for trading on its trading platform. You’ll first need to create an account by providing your name, email address and phone number. We are required to collect this information as Swyftx is an AUSTRAC registered exchange. To activate your account, you’ll then need to verify your email address, phone number and identity. You’ll be sent a code via SMS and an email that will be required to verify your contact details.
Swyftx have an ID verification system that scans your ID and verifies your account in just a few minutes. This saves the hassle of printing or scanning your ID documents. Once your account is activated, the next step is to deposit funds. Unlike other cryptocurrency exchanges that only allow crypto-to-crypto trades, Swyftx gives customers a number of trading options. You can deposit money into your account bank transfer, POLi, PayID or debit card.
Once your funds have landed in your account, you can then buy FTM instantly via the trade tab in the left-hand side navigation.
Swyftx is unable to provide investment advice and can therefore cannot say whether FTM is a good investment or not.
Fantom has performed very well since its launch in 2019. The buzz and excitement around Fantom largely comes from its potential to be better than other smart contract platforms like Ethereum and Solana. Similar to Etheruem, the Fantom network has smart contracts and decentralized application capabilities. One of the main draws of Fantom is its transaction processing is quick and cheap. It can handle 1000 transactions per second (TPS) and fees are typically a fraction of a cent.
FTM has a lot of potential for future performance, however, as history has demonstrated, there is no such thing as a guarantee in this industry. It’s important to conduct thorough research before buying Fantom in Australia.
The price of FTM is dependent on the supply and demand of buyers and sellers on exchanges around the world. Fantom’s price on the Swyftx crypto exchange is a reflection of the global trading volume averaged on a number of cryptocurrency exchanges. This means the price won’t fluctuate as much as you see on other exchanges. Our average spread is 1.7%, which is considerably lower when compared to our closest competitors (average spread of 4%). The spread is the difference between the buy and sell prices listed on an exchange or crypto trading platform.
Swyftx supports several different depositing methods including debit cards. To deposit via debit card, navigate to the ‘Quick Deposit’ tab via the navigation in your trading account. You’ll be redirected to BANXA (our debit card payment provider) which will require you to do a quick verification before you put your card details in. Once your deposit has arrived in your account, you can use this to purchase Fantom instantly.
Swyftx Cryptocurrency Exchange has lower trading fees and smaller spreads than our closest Australian competitors.
Verify your account in a few minutes and then Deposit AUD to start trading FTM and other cryptocurrencies listed on Swyftx.
Breached password detection, Two Factor Authentication (2FA) and two-factor authentication help protect your account from scammers.
Learn to trade and gain experience with Swyftx risk free by enabling the demo mode. We even simulate real life liquidity and market depth.
Deposit and Withdraw AUD via PayID, OSKO, Bank Transfer & POLi
Automate your crypto investments.Setup recurring deposits to your Swyftx account and have then automatically split across your own range of cryptos.
Never miss a trade or get caught out by the crypto market volatility. Set Buys and Sells to trigger at any price you want.
Easily secure your account with multi-factor authentication and biometric login. Swyftx also monitors other sites for data breaches that might result in compromises on your account.