How To Use FTX.US: Beginner’s Guide
FTX.US is a brand new US-regulated cryptocurrency exchange built for traders by traders. The mission of the exchange is to grow the digital currency ecosystem, offer US traders a platform that inspires loyalty and become a leading US cryptocurrency exchange.
FTX made a big splash in 2021 by purchasing stadium rights to the Miami Heat. FTX also formed a huge partnership with MLB and brought on athletes such as Tomy Brady and Stephen Curry to represent the brand.
Today, FTX is one of the fastest-growing exchanges in the world due to its low fees, its easy-to-use trading platform, its new NFT platform, and its mobile apps.
And FTX also offers advanced trading features (e.g., Take Profit and Take Profit Limit orders) for advanced traders.
Covered in this how-to:
- Wallet: Depositing and Withdrawing
- How to Buy and Sell Cryptos
- Crypto Staking Rewards
- Buy, Trade, and Mint NFTs
- FTX Card
- FTX App
Registering For FTX.US
Registering with FTX.US is very straightforward. From the home page, select register, and it will prompt you with the following screen.
From there, you will enter and verify your email address and create a password, along with accepting the terms and agreement by checking the box. You can also continue with your Google account.
Next, you’ll be prompted with a new window that will ask for your location. Select your location. Once selected, you will have to complete your profile by verifying your information to comply with regulations. Here, you will choose individual or institution.
If you are signing up as an individual (signing up as an institution is pretty much the same, just with a few different fields), you will have to complete all fields and enter your legal name, date of birth, country, mobile number, and address. Before clicking submit, you have to click send code next to your mobile number to receive an SMS code that can be input there. After this, submit your information.
Then, you will be asked to verify your identity using Stripe, select that prompt, and this pop up should appear:
It is easiest to complete this part on your mobile device because you will need to take pictures (get started continues on the desktop where you will be asked to upload your identification pictures).
To continue verification with your mobile device, select “complete on mobile device”. Once selected, a link will be sent to your phone via an SMS. Open that link, and select your identification type (driver’s license, identity card, or passport). Select the form of identification you wish to use and click next. After that, FTX and Stripe let you know how they will use biometric technology to confirm your ID. Accept and continue.
First, you will have to take a photo of the front of your ID and then the back. After this, you need to take a selfie to confirm your ID. After that, you’ll return back to your desktop and see that the same screen now says your verification has been submitted.
Click continue, and then enter your social security number and click submit information. Now, you should be all set to start trading!
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Wallet: Depositing and Withdrawing
To start trading, you will need to deposit your fiat to the exchange. To do this, go to the home page and make sure you are signed in, and then click the “wallet” tab on the top scroll bar. Then, you want to select deposit on the USD row, as shown here:
You can then deposit USD from a bank account (ACH) or via a credit or debit card. Click deposit as highlighted above, and you will be prompted with a screen that gives you the options to deposit via bank account, credit/debit card, or a wire. Under “wire,” you will notice it says “enable 2FA”. We highly suggest you do this first, to provide the most security. After you complete the two-factor identification by following the directions, your screen when you click deposit will now look like this:
Now, select which method you want to deposit money into your account. If you’re just starting out, you probably will either want to use the bank account or credit/debit option. For credit/debit, you simply add your card and then select the amount you want to deposit on this screen:
FTX will redirect you to the company “Plaid” for adding a bank, and you will log into your bank. You then may be asked to log into your bank account and update your account. How to do this depends on your bank, and if you have trouble, you should contact their customer support.
If adding a deposit via credit or debit card, all card deposits within $2,999 are usually credited within a few seconds! If it takes longer, it’s because the charge is undergoing review by an external processor. Funds from card deposits are usable for trading as soon as they are credited. The maximum amount allowed to be deposited with one transfer is $2,000.00.
Withdrawing is very straightforward, you select withdraw while in your wallet, and you can withdraw into stable coins or directly to your bank account. But first, you will have to convert your crypto to USD by selecting convert on the row of the crypto you want to withdraw.
For example, if you want to withdraw Bitcoin to your account in USD, you have to first go to the Bitcoin row, select covert, and convert to USD. After the funds you want to withdraw are now in USD, you can withdraw them into a connected bank account or another bank account via a wire. See below:
How to Buy and Sell Cryptos
There are three ways to buy crypto on FTX.US. Pacing an order, converting, or through their digital OTC (over-the-counter portal).
To place an order, go to the “markets” page. You are then able to view all trading pairs that are available on the exchange. Select one, and you will then be redirected to the trading interface page. Scroll down underneath the chart, where you will find a section in the middle of the page that says buy “X”, in this case ETH:
To place an order immediately, you will select market order. You can also make limit orders, where you can set the limit you want to trade for and see if it gets filled! To do this, change the price of your crypto under “price” and make sure you have the “limit order” selected under order type. Once you have it set, select place limit order, and you are all set!
FTX.US offers Stop-Loss Limit, Stop-Loss Market, Trailing Stop, Take Profit, and Take Profit Limit orders for more advanced trading. Learn more here.
If you want to convert from one asset directly to another, you can use your wallet’s convert feature. It is on the right side of the row, and once you click “convert,” you will be prompted with a pop-up that enables you to choose the asset you want to swap for another. The top asset is the one you are exchanging, then select the quantity that you would like to swap and click “convert”.
The last method that can be used to buy on FTX.US is through the digital OTC or “Over-the-Counter” Portal. This option is not for beginners and provides utility for traders looking to purchase large amounts while minimizing their impact on the market. For more information on the digital OTC offered by FTX.US, click here.
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Buy, Trade, and Mint NFTs
You can bid or outright purchase NFTs directly on FTX.US. Click on the “NFTs” section on the top scroll bar, and you can browse through hundreds of collections.
To buy or place a bid, go to your favorite NFT and select one of the two options, for example:
Additionally, you can mint your own NFT and attempt to auction it off. To do this, go to the NFT tab and select Mint” in the top right-hand corner. You will then be brought to this screen, where you can mint your very own image into an NFT!
The exchange offers a virtual debit card called the FTX Card. You can use it to pay for online purchases by using your balance on the exchange. If your USD balance is not enough, then FTX converts other coins you have to cover the purchase. Essentially, you can keep Bitcoin and use it to pay for everyday purchases! Go to the “FTX Card” tab on the top scrolling bar on the home page. Click get started, and then you will be prompted with an “FTX Card Sign Up” page:
Follow the directions from here, and you should be able to sign up. An important note: You will need to be KYC Level 2 before you are able to apply for the FTX Card. To apply for KYC Level 2, go here. However, if you followed the directions above on ID verification, this should already be done.
FTX App (formerly Blockfolio)
So far, this guide has focused on explaining how to use FTX.US from a web browser. However, if you wanted to trade on mobile, FTX has you covered.
The FTX app (formerly Blockfolio) helps you track your cryptocurrency investments and buy Bitcoin, Ethereum, Solana, Dogecoin, and more right on your mobile device with no fees. You can also buy NFTs from top Ethereum and Solana collections with no fees!
You can download the FTX app on Apple App Store and Google Play Store. Get a free gift using the referral code cryptosrus.
Thank you for reading “How To Use FTX.US.” We hope that this helps you easily navigate and use FTX.US. If you find yourself with any further questions, feel free to ask by commenting below. We are happy to help! If you are interested in signing up, we recommend you check out FTX.US.
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