Exploring FTX exchange

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·@bengy·
0.000 HBD
Exploring FTX exchange
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<center>![Screenshot 2021-08-27 16.28.42.png](https://files.peakd.com/file/peakd-hive/bengy/23tkhyNinA4cRE7HW5qcVUvsiDYrhxPc4pGTi6kRDxgZy2txPM5EnY6RSbLNu4K7bBLFX.png)</center>

I like to use a number of different exchanges, just to have some degree of choice when for supported chains, token selection and access to certain promotions. Mostly, I will use [Binance](https://www.binance.com/?ref=18699956), [Kucoin](https://www.kucoin.com/?rcode=8ubh6b) and [MXC](https://www.mxcio.co/auth/signup?inviteCode=17QyS) as my go to exchanges, but recently [Binance](https://www.binance.com/?ref=18699956) has had fiat on and off ramps disabled until further notice (due to regulators...), so I'm left without an easy on/off ramp at the moment. Currently, I do a bit of a run around with [Crypto.com](https://platinum.crypto.com/r/8h7zt7rzh8) but their withdrawal fees are a touch high, and their selection of supported chains is very low.. in particular, lacking BSC and Tron for fast and cheap stablecoin transfers. This means that I have to take a risk on making transfers with faster cryptocurrencies like LTC, XLM or CELO. In fact, I tend to prefer CELO due to the presence of a EUR pairing on [Binance](https://www.binance.com/?ref=18699956). I normally need to transfer fiat into Binance to fund the VISA debit card there. 

So, I've been looking around for a better option until Binance gets back on its feet with respect to Eurozone deposits and withdrawals. 

<center>![Screenshot 2021-08-27 16.28.24.png](https://files.peakd.com/file/peakd-hive/bengy/23u5V69qnBov8CDW3it2VmbgMAvp2kAceBZdaTGRQmV5Ssrqk8e29n7CnEUK9fFmuvjk7.png)</center>

One option that I've been wanting to check out properly for quite a few months is [FTX](https://ftx.com/#a=31870381). I had made an account there quite a while back, but hadn't done identity verification or funded the account yet as I was holding FTT and SRM (Serum) tokens on Binance and was waiting on Binance to support withdrawals on the Solana blockchain which would be significantly cheaper than the ERC-20 variants that were currently supported. 

Anyway, before summer, I had already made the decision to move more crypto off of Binance as the proportion that was sitting on chain was starting to get uncomfortably high, and it was definitely high time to move into private wallets... and to check out the staking and use case situations for some of the tokens considering that many of them had either launched mainnets or had actually started putting out viable products. Needless to say, Solana (SOL) went straight onto the Solana mainnet in order to stake. Considering that Binance does support Solana withdrawals for SOL tokens, I'm still a bit at a loss as to why they don't support the SPL tokens for Solana... 

Long story short... this week, I had given up on waiting (so, I guess that SPL withdrawals from Binance will commence tomorrow...)! I was going to shunt my FTT and SRM tokens to [FTX](https://ftx.com/#a=31870381) where they could be staked and put to work. In the end, the easiest and cheapest way to do it was to market sell the tokens on Binance to USDT, and then use Tron USDT to transfer to [FTX](https://ftx.com/#a=31870381) and then repurchase with market orders. 

Actually, now that I'm remembering why I did it... I actually wanted to purchase some Mango Finance tokens as well! 

<center>![Screenshot_20210827-132018.jpg](https://files.peakd.com/file/peakd-hive/bengy/23tbM6fq1jDpbgqyy2PBbFqkqzPbih4QNXwV1jZLqygVqkwp9J5tHBgQHGpCt1vYBGDr3.jpg)</center>

So, SRM and FTT are stakable on [FTX](https://ftx.com/#a=31870381). SRM is stakeable directly on the Solana chain as well, but I want to read more about that before doing it... for the moment, it can sit here until I'm up to speed on how Solana works. All I have done there is the SOL staking, and I haven't explored anything more than that at the moment... 

FTT has also been staked, and I also took the opportunity to buff up my holdings so that I could have a higher tier of staking bonuses. Sadly, it doesn't appear that FTT staking gives any platform fee distribution... oh well. 

<center>![Screenshot_20210827-131948.jpg](https://files.peakd.com/file/peakd-hive/bengy/23t77MBt68xcXMM4w4Wbbadxj7X2aHmBV8ydxAkeJm2EHgWfChz4UgV5kNsrPsoU4oQhd.jpg)</center>

They have a nice and snappy mobile app as well for Android which adheres quite closely to those from pretty much every crypto exchange on the planet. It has a beautiful dark theme, so I'm pretty happy about that. SEPA and fiat transfers can only be initiated from the website version though, so that is a touch annoying... 

<center>![Screenshot_20210827-131927.jpg](https://files.peakd.com/file/peakd-hive/bengy/23tHbr9yki6t6Km7si5C5gRXqqQ9B5982Lonhsz5BFY1GpG1ahGb1BpytfkRbzaFmEEB5.jpg)</center>

Perhaps one of my most desired order types is here though! Ever since I used the trailing stop on either Poloniex or Bittrex... can't remember which... I have wished that more exchanges had this option. I don't have the patience or time to constantly update my limit orders when I'm trying to take profits or get a nice low mark on a particular crypto. So, at the moment, I have just resorted to making market orders to just get the actual done and finished. Sure, I don't get the best price... but for me, the actual exchange is more important than getting the absolute best price for the exchange. 

So, a trailing stop would be a godsend... and if FTX are offering it, I might just have to come here to do my crypto shopping more often! I'm not sure what the last two order types are though (take profit and take profit limit), I will have to check those out and see how they work. 


<center>![Screenshot 2021-08-27 20.14.39.png](https://files.peakd.com/file/peakd-hive/bengy/23u6YrBnSqRuVryRhd19iRvohM4TwP43ED4zDNzqrUZnraNPWyma7dJdRa7evXrrzcy7D.png)</center>

... and so, the main reason that I had started to explore different exchanges. The ability to on ramp fiat (and off later...), either to fund my Binance VISA card or otherwise... although, I'm not really wanting to deposit fiat to purchase crypto, as I'm only playing with house money and want to leave it like that! 

So, SEPA transfers are supported! YAY... that is half of the equation... 

... and the other half, it turns out that I have free ERC20 token transfers as part of my staking tier, that is actually worth its weight in gold at the moment! But pretty much every other blockchain transfer is also near free or actually zero! TRC20 USDT is ZERO! YES YES YES! So, it appears my inital mission of finding an easy on-ramp for fiat and a low cost way to fund my Binance VISA card is going to be realised by FTX! 

I have deposited a small amount of Euros to just test the theory out... to see if it actually works in practice. I'm only really worried about the bank to FTX portion of the chain. If that goes well, I am pretty sure that the rest will be a breeze!


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I can also be found cross-posting at:
[Hive](https://peakd.com/@bengy/posts)
[Steem](https://steemit.com/@bengy/posts)
[Publish0x](https://www.publish0x.com/@bengy)

# <center>Handy Crypto Tools</center>

[Ledger Nano S/X](https://www.ledger.com?r=7db72b914099): Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto! 
[Binance](https://www.binance.com/?ref=18699956): My first choice of centralised exchange, featuring a wide variety of crypto and savings products. 
[Kucoin](https://www.kucoin.com?rcode=8ubh6b): My second choice in exchanges, many tokens listed here that you can't get on Binance! 
[FTX](https://ftx.com/#a=31870381): A pretty slick exchange that seems to be a great place for hard-core traders... or just those who really want some nice tools for trading. Highly recommended so far!
[MXC](https://www.mxcio.co/auth/signup?inviteCode=17QyS): Listings of lots of interesting tokens that are usually only available on DEXs. Avoid high gas prices!
[Coinbase](https://www.coinbase.com/join/58034401fb82d963dcd35ef4): If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
[Crypto.com](https://platinum.crypto.com/r/8h7zt7rzh8): Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
[CoinList](https://coinlist.co/clt?referral_code=4CA9XD): Access to early investor and crowdsale of vetted and reserached projects.
[Cointracking](https://cointracking.info?ref=S596141): Automated or manual tracking of crypto for accounting and taxation reports. 


<a href="https://www.ledger.com?r=7db72b914099"><img width=728 height=90 alt="Ledger Nano S - The secure hardware wallet" src="https://www.ledgerwallet.com/images/promo/nano-s/ledger_nano-s_7-2-8x9-0.jpg"></a>


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