- FTM is the cryptocurrency of the decentralised Fantom smart contract platform, known for its faster, cheaper, and better performance.
- Fantom allows decentralised applications (dApps) to function on separate blockchains that can communicate with each other, offering effectiveness and security.
- FTM tokens are used for payments, governance, fees, and staking rewards on the network, and they are also available as an ERC-20 token on the Ethereum blockchain.
- To buy FTM in Australia, one can choose from various crypto exchanges such as Bybit, CoinSpot, Swyftx, Crypto.com, and MEXC, with CoinSpot being recommended for its security, range of cryptocurrencies, and user support.
FTM is the cryptocurrency of the decentralised Fantom smart contract platform. By design, Fantom aims to outshine the old blockchain-based platforms like ETH 2.0, Cardano and Solana. It offers comparatively faster, cheaper, and better performance by making use of its state-of-the-art aBFT proof of stake (PoS) consensus protocol called Lachesis. In simple terms, theoretically, an aBFT consensus mechanism is a more effective, secure and scalable protocol than the ones being used by Ethereum or Bitcoin.
The unique feature of Fantom is that every decentralised application (dApp) built on its blockchain can function on its separate blockchain because blockchains on Fantom’s platform can communicate with each other. Therefore, all dApps – with their own blockchain – can enjoy the effectiveness and security of the main consensus layer. In addition, applications built on Fantom are compatible with Ethereum Virtual Machine (EVM). This means that these applications will also function with hundreds of other platforms built using Ethereum's blockchain.
FTM tokens – with a limited supply of 3.175 billion – make the whole ecosystem function. They are used for payments, governance, fees, and staking rewards on the network. FTM is also available as an ERC-20 token on the Ethereum blockchain. Due to its unique and innovative foundation, Fantom has emerged as a popular dApp development platform. There are already 150 projects, with their separate blockchains, that are functional on the Fantom network.
Where to buy FTM (Fantom)?
FTM is a very popular coin, and a large cryptocurrency by market capitalisation, so you will be able to find it at many crypto exchanges in Australia. The biggest factor is that you choose an exchange that is safe and legit, so you don't get scammed. We recommend you choose an exchange from our list of the best crypto exchanges for Aussies, as they are all tested by us, and we can confirm they are secure and trusted.
In this guide of how to buy FTM (Fantom), I will include screenshots from my personal CoinSpot account, so you can also open an account with CoinSpot if you want to easily follow along. The reason I choose CoinSpot as my cryptocurrency exchange is for the following reasons:
- Over 370+ different cryptocurrencies supported, including FTM
- Most secure and trusted crypto exchange in Australia
- Largest Australian exchange with more than 2.5 million users
- Staking on 21 coins
- Live Chat support
- NFT marketplace where you can buy NFTs using any cryptocurrency you like
Exchanges where you can buy FTM
How to buy FTM (Fantom)?
7 easy steps
Buying FTM (Fantom) in Australia is really easy, all you have to do is follow along with these simple steps, and you will have your own FTM in no time.
1. Sign up with a crypto exchange
The first step is to open an account with your crypto exchange of choice. If you haven't decided, have a look at this guide on the top crypto exchanges in Australia (click here). Or if you want to use my recommended exchange, which I will use for my screenshots, open an account with CoinSpot. You can also read my CoinSpot review first before you decide.
To sign up with CoinSpot, click this link and you will be taken to a page like the screenshot below. Click Register in the top right corner, then fill out your email, create a password, click to prove you’re not a robot, then click Create Account.
2. Verify your account
After creating the account, you need to verify your account. Click on the "Complete Verification" button and continue with any steps that show up. You need to verify your email, and then then enter your identification details and finally upload a copy of your driver license. It can take a while for your verification to be finalised, so you can have a look around your CoinSpot account and get comfortable with the interface.
3. Deposit money into your account
Once your account is verified, it's time to deposit AUD into CoinSpot. In the top left of the account, you will see the "Deposit Funds" button. Click on that, and you should see the deposit page (see screenshot below). You can use whichever method you like from that list, but my recommendation is POLi. Funds are deposited instantly and there is no charge incurred. Type in the amount you want to deposit, select your bank, and then click the "Continue to POLi" button to finalise your deposit.
4. Go to the Buy section in your account
Once your money is in your CoinSpot account, you are ready to buy some FTM (Fantom). Click on Buy/Sell in the menu along the top, then search FTM. Click on Buy FTM and you will see the purchase screen, like the screenshot below. The price of FTM is shown clearly in the middle of the screen.
5. Select how much FTM you want to buy
Select how much AUD you want to spend on FTM, then click the Buy button. You will see a pop-up which confirms how much you are spending, the fee, and how many coins you will receive.
6. Buy FTM (Fantom)
When you have checked that all the information is correct, you can click Confirm Buy to finalise your transaction. Congratulations, you are now the proud owner of some FTM!
7. Store your FTM safely
Now that you have made your purchase of FTM (Fantom) you can find it in your CoinSpot wallet by clicking on Wallets at the top of the screen. You can see how much FTM you own, and the value in AUD. You can leave your FTM in CoinSpot, which is the most secure crypto exchange in Australia. If you prefer to be even safer, you can send your FTM to a personal wallet. You can click here to read about the best crypto wallets for Australians.
Frequently Asked Questions
Yes, it is perfectly legal to buy, sell and own FTM (Fantom) in Australia.
If you choose a trustworthy and secure cryptocurrency exchange, it is safe to buy FTM in Australia. CoinSpot is the #1 top crypto exchange in Australia, and you can be assured that it is safe to buy FTM (Fantom) using their platform.
If you want to buy other cryptocurrency such as Bitcoin, Dogecoin or Ethereum, you can follow the same steps above, but in Step 4, type in the coin you want to buy instead of FTM.