How to buy/sell FTT (FTX Token) on Huobi Cryptocurrency exchange?

FTT (FTX Token)

As the only token of FTX, FTT will be used to support the entire FTX ecosystem.

How to buy FTT (FTX Token) on Huobi?

Follow the easy 4 steps below to buy FTT (FTX Token) on Huobi.

1. Register a Huobi Global account
   Provide an email address, create a username, and choose a secure password.
2. Verify your account
   After registering and verifying, all you need to do to buy Bitcoin is to provide your name, date of birth, country/region and phone number. For verification information, see the verification documentation.
3. Deposit in fiat currency or cryptocurrency
   To deposit cryptocurrency, you only need to check the encrypted address on Huobi Global and send funds to that address. There are many ways to use fiat currency to fund your account for transactions, including credit cards, cash, and other cryptocurrencies.
4. Start buying Bitcoin on Huobi
   Once your fiat currency or cryptocurrency is in your account, you can start buying Bitcoin. Through your Huobi Global account, you can get trading charts, 24-hour global customer support, and FTT (FTX Token) derivatives trading.

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What is FTT (FTX Token)?

FTT will serve as the backbone of the development of the FTX ecosystem, with a total of 350,000,000 issued tokens. Through the FTT token application and token holding incentive mechanism FTX set up, they are confident to increase the market demand for FTT. The application scenarios of FTT include:

1) Platform token destruction/profit sharing: Before the total destruction of platform token FTT is reduced to half of the initial issuance, one-third of all fees generated on the FTX platform will be used for repurchase and destroy FTT. Part of the transaction rebates on FTX OTC will also be used to buy back and destroy FTT.

2) Margin collateral: Users can use FTT as a margin for contract positions, which is also conducive to improving the utilization rate and market demand of FTT.

3) Discounts on transaction fees: After FTT holdings reach a certain position, the holders will enjoy discounts on contract transaction fees.

4) OTC transaction rebates: holders who hold a certain amount of FTT can receive OTC transaction rebates. (FTX’s OTC transaction has no handling fee.)

5) OTC transaction repurchase: FTX will carry out a certain degree of FTT repurchase and destruction according to the OTC transaction volume and income.

6) Sharing of currency holders: FTX’s background test and online simulation environment show that during the relatively large market period, FTX’s risk margin increased on a net basis, and there was no over-allocation; part of the net income of risk reserves will be distributed to FTT holdings. have.

7) Future prospects: FTT is the only circulation token in the FTX ecosystem, and is the backbone of the FTX ecological layout; the use scenarios of FTT will be more diverse in the future, and FTX will add more other digital currency derivatives to the platform.

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