Top 3 Centralized Exchanges in Fantom

The Fantom blockchain is mostly known for its DeFi use cases. It’s a fast, secure, and scalable blockchain. The chain is also EVM compatible. Well over 200 dApps already deployed on Fantom. In other words, it’s a popular project. As a result, you can find the FTM token on many CEXs.

So, we are going to look at the three top centralized exchanges in Fantom.

DigiFinex

DigiFinex just makes it into the top 20 of major exchanges. It has a 24-hour volume of $564 million. However, with 12.2 million monthly visitors, it places third in this field. That is straight after Binance and Coinbase. That’s an impressive achievement. One of the reasons can be that it offers 410 coins and 582 trading pairs. On the other hand, DigiFinex does not offer an insight to their reserves’ data.

Furthermore, this exchange doesn’t offer any passive income options for Fantom. There is a “Wealth” program, but Fantom is not part of this. However, you can buy crypto with a debit or credit card. When spot trading on DigiFinex, you can choose between three FTM/USDT pairs. This includes long and short positions. You can also use a margin or ETF trading feature. The picture below shows the spot trading chart of FTM on DigiFinex.

Source: DigiFinex

Binance

Binance is currently the most popular exchange in the world. As a result, it takes first place among all exchanges. Its 24-hour trading volume is $10.6 billion. That’s 6.5 times as much as second place Coinbase. Per month, they have 64 million visitors. That’s almost twice as much as Coinbase. 

Binance offers 358 coins and 1,414 trading pairs. In their earn products, you can get 2.9% APR for staking FTM. On the spot exchange, Binance offers no less than 10 different FTM trading pairs. There’s also an option for margin trading. 

The FTM token is also available on Binance.US since December 2021. Binance gives disclosure about their reserves’ data.

Buying crypto on Binance is an easy and simple affair. Binance has a detailed guide on how you can buy FTM. Below is a picture of the Binance earn option for FTM. This is a great way to earn passive income.

Source: Binance Earn

MEXC

MEXC currently ranks at the #14 spot in the list of worldwide exchanges by CoinGecko. Their 24-hour trading volume stands at $8 million. Per month, they welcome some 8.7 million users. The number of coins they offer is stunning, namely 1,569. These lead to 2,210 trading pairs.

Trading options on MEXC include spot, margin, leveraged ETFs, and quantitative trading. With the latter method, you use math and statistics to predict markets. However, MEXC does not support the FTM token in their MEXC savings feature. In other words, you can’t earn passive income with FTM on MEXC. The exchange does offer an extensive guide on how to buy FTM on MEXC

Conclusion

We covered the current best three centralized exchanges for Fantom. These include DigiFinex, Binance, and MEXC Global. 

The current FTM price is $0.459506. Its market cap is $1.28 billion. The max and total supply of FTM tokens is 3.175 billion. Out of these, 2.78 billion FTM tokens already circulate.

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