FTX account review: My favourite crypto exchange. This referral code(not mine) offers 10% discount when others are 5% only
Update 12Nov2022: FTX has filed for bankruptcy yesterday. I have lost all my remaining funds on FTX.
Update 8Nov2022: With the bank run going on with FTX, I have withdrawn most of my funds from FTX. If FTX survives this crisis, I will put my funds back.
The title with "Referral code with 10% discount" is not meant to be a clickbait to attract eyeballs and mislead readers. I am sharing a very good, genuine deal and do not want my readers to miss out, so I had to resort to a headline-grabbing title. My own FTX referral code comes with a lower discount of only 5%. So, I have decided to promote somebody else's referral code which offers a much better deal to you. I do not benefit financially when you use this referral code. This is not a sponsored post and I am not paid by anyone to put in good words. Whatever nice words I have for FTX spring from my satisfaction as a happy customer.
If you're looking for a credible crypto exchange to sign up, I am confident you will benefit from signing up with CoinBureau's referral code because the discount of 10% is double that of the rest (including mine) which offers only 5%. I have benefitted from CoinBureau's informative videos and articles when I was a crypto idiot, so I am happy to promote his referral code out of gratitude. I am not paid by CoinBureau to promote his referral code.
FTX is such a popular exchange that you can get plenty of online reviews by googling "FTX account review". I do not think I can add much value by repeating what others have said. What I will do is highlight the most competitive FTX features versus other crypto exchanges. If you decide to sign up for a crypto exchange, use these features as reference points for comparison. If you finally decide to sign up for FTX, then use CoinBureau's referral code with a 10% discount. This is the value that my blog post offers.
Price is the easiest feature to compare. It is an objective number. FTX pricing beats competitors to a pulp.
The fee table looks complicated at first glance to the complete newbie. To keep things simple, take note of this point. The most expensive fee you will pay on FTX is 0.07% of the transacted value. The most expensive fee charged by FTX is still cheaper than the cheapest fee I can find on any other crypto exchange for spot markets. FTX fees for trading crypto derivatives contracts are competitive but other exchanges like Binance and OKX are giving FTX a good fight.
If you sign up using CoinBureau's referral code (not mine) which gives you a 10% discount off the fees, you will be paying at most 0.063% only.
If you know of a cheaper deal, please let me know or drop me a comment.
Usually, cheap things come with poorer quality but this is not the case for FTX from personal experience. I am a happy customer so far. You can verify by checking with other people who have used FTX.
Another feature of FTX that beats competitors flat is their crypto withdrawal fees. FTX provides free withdrawal for non-ERC20 cryptocurrencies except for small amounts of Bitcoin. For ERC20 tokens like Ethereum, customers will have to pay for the blockchain gas fees. No other crypto exchanges can beat this as far as I know. If you know of one, please let me know or drop a comment.
FTX is one of the largest crypto exchanges. With size comes good liquidity and stronger financial safety. Since crypto is unregulated at this moment, I will prefer to use the larger exchanges because of the lower risk of financial failure and since they have more at stake, they are unlikely to behave badly to their customers.
There are other FTX features that I like personally but will not cover in-depth here. If you are keen, you can google the benefits of FTT staking and lending out tokens.
When you sign up for FTX using this referral code, check the discount. Verify that you are getting a 10% discount. If not, then do a favour to your friend or relative by signing up with their referral code which most probably will give you only a 5% discount. In any case, DO NOT sign up for FTX without any referral code because you will not be getting any discount.
I wish I had signed up using a referral code that gives me a 10% discount. I am only getting a 5% discount myself.
Cryptocurrencies are highly volatile and unsuitable for most people unless they have a strong interest and are prepared for the risk. For people who are keen, signing up for a crypto exchange is the first step to getting on board. From my own experience, FTX is a good crypto exchange and it is my favourite crypto exchange today.
I put my idle money with moomoo Cash Plus while waiting for investment opportunities because it offers above-average yield and can be withdrawn within days. If you are keen, please read my review and sign up if you like it.