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FTX and FTX.US Charges, ftx-vs-ftx-us Coins Supported Withdrawals and Deposits

FTX and FTX.US Charges,

FTX and FTX.us The key differences

ftx-vs-ftx-us The FTX exchange is a derivatives of cryptocurrency exchange offering a range of distinctive financial products. In 2019 by the exchange, it has grown in popularity and the number of users registered.

FTX offers two exchanges, the first is ftx.com for users from all over the world , except for US citizens. For US-based traders, FTX has made a US-regulated exchange available on its FTX.usdomain. US residents aren’t permitted to trade on the exchange’s native cryptocurrency, which is called FTT. They aren’t able to participate in multiple contracts that are offered on the platform, either.

ftx-vs-ftx-us Ideal for

US citizens are not allowed to making use of this FTX.com exchange due to the restrictions put in place by the US government on its citizens in relation to trading in cryptocurrency however, they are able to utilize the FTX.us exchange , which is US-regulated.

Other countries that aren’t part of the US must use this FTX.com domain because it provides all the features offered by the FTX.us exchange as in addition to features that aren’t available to be used in the US.

FTX and FTX.US Charges

Despite all the efforts the exchange has put into its efforts to give newbies an enjoyable experience for users, it’s better suited for more experienced traders as trading derivatives is a huge risk and is difficult to comprehend, particularly for those who are new to trading. The majority of the services offered by the exchange require thorough understanding of both the market and the asset you want to trade, along with some knowledge of technical analysis.

Also Read: 5 Top Bitcoin Exchanges In the USA

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Background

FTX strives to provide the best trading experience for its customers. Its motto is “For traders, by traders”. Since its inception in 2019, the exchange’s goal has been to provide traders with new yet innovative financial products that can be used by both novices and professional traders. For instance, FTX offers Leveraged tokens, futures, and options trading.

Experience with trading

The FTX team designed FTX.com’s user interface and made sure that it is user-friendly and easy to use. They put in the middle FTX’s trading chart which offers many trading features, drawing tools, and a chart pattern overlay. FTX.com has also integrated TradingView charts that you can use for technical analysis. Next to it, there are more details such as the price performance, order details, and the trading history.

What is it that makes FTX the ideal choice for those who are new to trading is the ease of monitoring and controlling their positions. For example it’s trading site provides its users with many more order types available than the majority of exchanges. Below is a list of available orders:

  • Market order
  • Limit order
  • Stop the limit
  • Stop market
  • Stopping trailing
  • Profit
  • Limit profit to a certain amount

Another excellent aspect for this trading platform is its capability to utilize API keys to automate trading by using cryptocurrency trading bots.

FTX.us has pretty similar trading experiences like FTX.com, but it’s easier to use because the exchange is less feature-rich as FTX.com.

Also Read: How to Buy Rocket Bunny Crypto

Coins and contracts are available.

FTX.com is a derivatives exchange where you can’t trade any real digital assets. In fact, the exchange allows you to trade a product that illustrates the value of the coin you are willing to trade.

FTX.com supports future contracts that cover more than 80 cryptocurrency. In contrast to its competitors, it permits for the trading in future of currencies that have small market caps. It also supports a variety of fiat currencies, including: USD, EUR, GBP, AUD TRY, HKD TRY, CAD BRL and CHF.

One of FTX’s most distinctive features includes the MOVE Contract that allows traders to trade volatility in the market. This contract represents the exact value of how much a digital asset changes during a specific time frame that is similar to the weekly instance. In reality, it is not important if the value changes direction or not but what is important is how much in USD that the price changed over the time.

FTX and FTX.US Charges, Coins Supported Withdrawals

There is the option of trading perpetual options via the platform. These futures do not expire. Instead, they are constantly updated.

Another distinctive feature provided by this exchange are Leveraged Tokens. These tokens are a new type of ERC-20 tokens that give you enhanced exposure to the crypto market. If you decide to trade ETHBULL. Whenever Ethereum goes up by one percent, the token will increase in value by 3%(3x).

FTX.us, meanwhile it has less cryptocurrencies and contracts that are available to its customers. In particular, the exchange allows 24 cryptocurrencies. Additionally, the exchange supports less financial services in comparison with FTX.com: margin borrowing and lending margin trading, as well as spot trading.

Also Read: 15 Doubts You Should Clarify About The Crypto Winter Is Coming.

Leverage and margin trading

The FTX.com exchange currently supports up to 101x leverage. However, users have a default maximum leverage of 10x. In order to trade with higher leverage, traders should go to the settings section and increase their maximum leverage by changing the “Account Leverage” section.

FTX.us on the other hand can provide as much as 10x leverage to US cryptocurrency traders.

Fees for trading

FTX.com has set up six tiers of trading fees based on a taker maker model. Like many other exchanges, FTX gradually decreases the fees for traders based on their daily trading volume to encourage users to trade in higher volumes. Tier 1 traders need to pay a taker fee of 0.07% and a maker fee of 0.02% while tier 6 traders only pay 0.04% in taker fees and a maker fee of 0%. ftx-vs-ftx-us

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For FTX.us, the exchange charges more fees for all its customers. It uses the same taker maker model as the other exchanges, but offers 9 tiers instead of six. Tier 1 trader pay 0.1 percent in fees for making and 0.4 percent in taker fees and Tier 9 traders pay the maker fee at 0% and 0.05 percent in taker fees.

Here is the fee list for FTX.us users:

Also Read: 10 Reasons You Should Fall In Love With How El Salvador Is Mining Bitcoins With Volcanoes 2022

Withdrawals and deposits

FTX.com allows deposits in multiple cryptocurrencies: Bitcoin Ethereum Bitcoin Cash Litecoin and various stablecoins (TUSD, Tether , PAX, and USDC).

The exchange manages every withdrawal and deposit quickly and doesn’t charge any fees for withdrawals or deposits with the exception of Ethereum, ERC-20 tokens and smaller BTC withdraws (<0.01 BTC).

In addition to withdraws and deposits in crypto, FTXallows you to withdraw and deposit the currency of your local area using wire transfers from banks. It takes just one weekday to take care of USD wire transfers, but it takes it takes a little longer to handle the wire transfers of other currencies. The exchange does not charge any fees for deposits, and is charged $75 US fee for USD withdrawals less than $10,000.

FTX.usis also fast when it comes to processing crypto deposits as well as withdrawals, however the process of depositing and withdrawing USD could take as long as two days for business. FTX.us also charges an additional fee to process USD deposit via wire transfer as well as withdrawals. The minimum amount users have to cover is $ 5. the maximum amount is $35.

Also Read: How do you finance new equipment? Marquette equipment finance

Security and Trustworthiness

FTX.com uses multiple security features to make sure that the user’s funds are kept safe and his personal information never gets leaked. These security features include:

Password strength: Anyone who wishes to sign up an account with the exchange has to submit a strong password with special characters, uppercase and lowercase letters as well as a minimum number. This feature assists in blocking of brute force attacks.

Two-factor authentication: FTX.com supports 2FA, giving users an additional layer of protection against unauthorised account access.

The lock for withdrawal is activated after the removal of 2FA or password modification: A 24-hour withdrawal lock is activated when a user takes 2FA off or alters his password.

Monitoring and notifying users of suspicious activity: FTX.com exchange notifies its users of any attempt to log into the user’s account that originates from a new IP address, regardless of whether the user did not activate 2FA on their account.

FTX.us offers better security for its customers by requiring a 2FA setup in order to perform any transaction made through the account. The account also includes all security features offered by FTX.com.

FTX and FTX.US Charges, Coins Supported Withdrawals and Deposits

Funds for insurance

In order to make sure its traders don’t suffer major losses while leverage trading, FTX.com has set up an insurance fund. Whenever users trade in high leverages (between 50x and 100x), they need to pay higher trading fees, which will be allocated to this insurance fund.

If the market is extremely unstable, the exchange may not be able liquidate its users on time, which could force them to shut down their positions, leading to loss for the customer. These losses will be compensated with the help of the insurance company.

FTX.ususers can benefit from this fund of insurance just as FTX.com‘s traders do. But, as per the US regulations, the users aren’t liable for losses they incur on the platform. are not subject to insurance coverage provided by SIPC or FDIC. SIPC or FDIC agencies.

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KYC conditions

There aren’t any conditions for going through a KYC verification while using the FTX.com exchange. However, users who don’t verify their KYC will have a limited daily trading volume. For instance, there are three tiers of account verification:

Tier 1. All you have to do is give an email address, and you’ll be able to make trades of at least $1,000 per day.

Tier 2: By supplying your residence country the country of your residence, your daily trading limits will increase to $2,000.

3. You have to show an identification photo and the source of your income and evidence of your address to trade at no limit in your trading volume.

FTX.us has the same verification levels however it is not forgotten that you aren’t able to make use of fiat currencies on the exchange without undergoing KYC verification.

Specific highlights (VIP programme, OTC trading)

In order to satisfy the need of professional traders, FTX has a VIP program that offers multiple benefits, such as:

1)Lower fees

2)account managers

3)Flexible API limitations

4.) Access to VIP-only meetups

5) Assistance by a senior developer any API-related issues.

6)The possibility of providing feedback on the latest FTX products

For traders with an institutional account, FTX offers an “Over The Counter” exchange which can be accessed via on the otc.ftx.com subdomain. All a user has to do to begin is an FTX account. After that, they’ll be able fund their OTC account through the wallet for FTX. The traders who sign up to this OTC portal will be able to get immediate, 24 hours a day OTC quotes on all important digital assets.

Native tokens are available and have benefits

In order to keep up with its competitors, FTX.com has released its own token called “FTT”. FTT.com has made it to the top 50 cryptocurrencies by market cap. It is currently ranked #26 according to coinmarketcap.com .

It is available on several prominent exchanges, including the BinanceBitMex, and Bitfinex..

The FTT exchange on FTX.com exchange offers several benefits to customers. The benefits include:

  • The fees for trading are reduced.
  • The possibility of the use of FTT tokens as collateral for the exchange
  • FTT holders will receive benefit from insurance fund.
  • The possibility of staking FTT and earn passive income.

Here is a list of discounts for trading fees that are available to FTT token holders of the FTX.com trading platform:

Although FTX.com supports the trading of the FTT token however, the token isn’t accessible to trade via the FTX.us exchange and isn’t available to users because of legal issues.

Visit FTX Now Visit FTX.us Now

ftx-vs-ftx-us Education and support for customers

FTX offers a comprehensive set of user guides and a FAQs section that covers almost any common problem. Also, the exchange has a support team that can be reached via e-mail in case you didn’t find a solution to your problem in the well-documented FTX help center .

The same is true for that of the FTX.us exchange. You can visit the exchange’s FAQs by clicking the link and be able to find answers to nearly every question you could have about the way the exchange functions and what services it provides.

In addition to that, The FTX team has created numerous WeChat as well as Telegram groups for traders to talk to each other. It is also possible to ask for assistance on Telegram while the team of support will respond to your request within a couple of hours.

Also, FTX.com and FTX.us have a highly active Twitter account on which the exchange provides updates on their products as well as connects with their customers. Follow FTX.com’s account for more details about the exchange.

FTX.us also has an account on which they publish information about the exchange’s policies, features and procedures, so don’t hesitate to follow them if you’re interested in the features the exchange can provide.

Resources: https://help.ftx.com

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