[Investment and Financial Management] FTX Exchange | Brainless investment method for petty bourgeoisie with an annual rate of 8%

foreword

Although the title says that it is a no-brainer investment method, it is still an old saying. Before you decide to start investing in cryptocurrencies, you must first understand the risks. Risks and profits go hand in hand. Cryptocurrencies are still a highly volatile investment, so you should still evaluate carefully before investing, not to earn interest but lose your principal.

If you haven't read my previous article on risk and basics, you can click here to review it. I won't repeat it here. In the previous article , we also introduced the characteristics of the three largest Taiwanese cryptocurrency exchanges. If you have completed If you have registered with any of these Taiwanese exchanges, congratulations, you already have a low-fee and convenient channel to exchange your NTD into USD stablecoins or other cryptocurrencies.

This article will introduce FTX, a cryptocurrency exchange that is loved by the financial community. Its founder, Sam Bankman-Fried (SBF), worked as an excellent trader at Jane Street, a well-known securities trading company on Wall Street, and later worked in blockchain and encryption. Seeing great opportunities in the immature emerging market of currency, I resolutely invested in this market to do something. (Or is it because I found out that my name is going to blow up those traditional financial bankers?!) Many entrepreneurial stories are omitted here. If you are interested, you can find more information about SBF. With the continuous expansion of the business territory, FTX exchange is here. birth.

Introduction to FTX Pro / FTX Exchange

FTX? FTX Pro?

Every time someone starts to prepare to open an account on FTX, they will ask the same question. Almost everyone will beat the wall for a while. Is the FTX exchange you mentioned different from the FTX exchange I mentioned?

It’s really different. In fact, FTX has two apps, FTX Pro and FTX. FTX Pro can be opened on mobile phones and web pages, while FTX only has mobile apps. Both belong to different exchanges under the same company. .

The reason for this is because the current FTX was originally a cryptocurrency exchange called Blockfolio, but it was later acquired by the FTX exchange. The name FTX was given to the original Blockfolio, and FTX was renamed FTX Pro. , so FTX and FTX Pro operate independently. You can directly regard them as two different exchanges, but they are integrated under one company. Not only are the wallet addresses different, but the exchanges are not connected to each other. Together, they need to be registered separately (this is much like Taiwan's MAX exchange and MaiCoin exchange).

Unlike Binance and several exchanges in Taiwan, FTX was established in 2019, but perhaps the founder, SBF, came from the traditional financial industry and has a better understanding of how many business and technological things work. FTX is based on It has grown at a rapid rate, until the author is currently ranked No. 3 in the world exchange on CoinMarketCap , with 317 circulating currencies, 451 different trading pairs to choose from, and supports 10 global fiat currency deposits, not only that in In physical and virtual places such as sports, e-sports, NFT, etc., FTX title sponsorship can be seen everywhere, and the exposure is astonishing.

The mutual transfer between FTX and FTX Pro is considered as an internal transaction and will not be on the chain, so even if it is the most expensive ERC20, the handling fee is still 0.

Five Features of the FTX Pro Exchange

1. Equity certificate

I don't know if this is the first creation of FTX Pro, and I don't really understand how the business principle behind it works, but I only saw the equity token for the first time on FTX Pro. After a little research, I feel that it is super Interested to apply for FTX Pro.

Equity tokens are cryptocurrencies linked to US stocks, or stock tokens, which allow me to more easily obtain US stocks such as Tesla, Apple, and Amazon without having to open an account in US stocks to buy stocks.

In my understanding, the so-called equity token is like a dollar stablecoin. The dollar stablecoin is a cryptocurrency pegged to the dollar. The ultimate goal is to keep the dollar stablecoin at a constant value of one dollar, while the equity token sells Tokenized U.S. stocks, its ultimate goal is to hope that one stock token can be equal to the value of one share, but because the liquidity of stock tokens is not very good, both stock tokens and USD stablecoins may not be completely complete. Anchoring the value of the corresponding asset will still result in a discount and premium, so it is still necessary to make a little evaluation in use, and then decide whether to use it or not.

At present, the equity token of FTX Pro has 51 trading pairs and 49 US stock targets. Most of these US stock targets are some technology giants such as Apple, Amazon, and Google. Most of the prices are also calculated in USD. If you hold USD stablecoins, perhaps using equity tokens will be a good way to invest in U.S. stocks at a relatively low cost.

2. Lending

FTX Pro provides lending services in more than 100 currencies (104 at the moment of writing), these currencies are not only cryptocurrencies, but also stock tokens! This means that not only can you lend out cryptocurrencies, but you can also lend out equity tokens of U.S. stocks, making your trading strategy more possible.

Just like the general law of supply and demand, as more people want to lend or fewer people lend, interest rates will rise; as more people want to lend or fewer people lend, interest rates will fall, both here. It is calculated on an hourly basis, so depending on the conditions of the hour, the interest rate for each hour of borrowing will be different.

Putting money here is a kind of loan concept. FTX Pro will try to lend it to others for you, and the interest will be paid in units of one hour. However, because most of the currencies do not have any lending requirements, FTX Pro will still give at least approx. The annualized interest of 0.88% is really low, but if you are buying equity tokens, it is better to put it here and earn interest than no interest. In addition, if you want to get the money back, it will be about the next The interest will be paid back to you within an hour, so the funds will be recovered within an hour in about an hour. Although it is not as flexible as survival, it is still acceptable.

3. FTX Charity Foundation

FTX has a charitable foundation and is also very concerned about environmental protection and global warming and other related issues. It will donate 1% of the transaction fees we pay on the platform to social welfare units for public welfare, which enables users to indirectly Doing charity work is great, isn't it?

4. NFT platform

The NFT platform of FTX Pro will be launched in June 2021. If you don't know what NFT is, you can refer to my previous article "Understanding what NFT is and its application" . This NFT platform currently supports Ethereum and Solana blockchains On the NFT, since I have not studied the Solana ecosystem in depth, nor have I actually used the NFT platform of FTX, I may have to grope for more in-depth information.

5. FTX IEO

The full name of IEO is Initial Exchange Offerings. Because the initial issuance is a bit like a pre-sale, it will not provide too much supply, and it will not be rewarded for everyone, but will be decided through a lottery-like method. You can buy IEO projects, and the number of signatures will depend on the amount of FTT you pledge in FTX Pro. If you pledge enough FTT, you can get the corresponding subscription coupons. This is the official announcement of the PSY IEO before the corresponding amount of pledge. To the number of subscription coupons:

• Stake 150 FTT; you get 1 subscription ticket.
• Stake 290 FTT; you get 2 subscription coupons.
• Stake 420 FTT; you get 3 subscription coupons.
• Stake 540 FTT; you get 4 subscription coupons.
• Stake 650 FTT; you get 5 subscription coupons.
• Stake 750 FTT; you get 6 subscription coupons.

Every wave of IEO projects carried out on FTX Pro has caused a frenzy of buying. Although there has not been such an astonishing increase in IEO recently, most of the past projects have flown to outer space after the opening of trading, such as the one released last year. The GameFi IEO project Star Atlas (ATLAS) soared 50 times directly after the opening of the market, which means that the lucky winners of these IEOs used about 20,000 Taiwan dollars to buy 1 million Taiwan dollars worth of cryptocurrency each time. .

Four Features of FTX Exchange

1. Annualized 8% Survival Interest

As long as any asset is deposited in the FTX app, it will be included in the annualized 8% live interest at the moment of deposit. This interest is paid every hour. If it is deposited in USDT, USDT will be issued every hour to You, if you deposit BTC, it will send you bitcoin, and you can transfer it immediately if you want to transfer it out of the exchange. Unlike FTX Pro, you need to wait until the next hour to get your assets back after the loan is released. This is what I currently have The most convenient and mindless place to save money among assets.

However, its 8% annual interest rate is not really unlimited 8%, only the first 10,000 US dollars worth of cryptocurrency is 8%, and the excess is 5%, so if you deposit 12,000 USDT, then The first 10,000 USDT is 8% denominated, and the latter 2,000 USDT is 5% denominated, then the annualized return of the assets you put here will be (10000*8% + 2000*5%)/12000 = 7.5%, which will not reach 8 %Oh.

2. Send Air Coins for Transactions

The funny thing is that if any transaction you do on it is worth more than $10, it will randomly send you an air coin, so if you try to send $10, you will keep getting weird coins, these The value of coins is usually very low, but there are still high and low points. For example, the worst coin I received is Kin. The price of a Kin at the moment of writing is 0.00005261 US dollars... The higher prices are probably like Akropolis, UpBots, etc., The price is about $0.01. I wonder if I will receive a BTC one day?

When using FTX, you should pay special attention. FTX is a centralized transaction like bank exchange, so what you buy will be a little higher than the current price, and what you sell will be a little lower than the current price. The actual measurement is about 0.5 Between % and 1%, the size of the transaction amount is unknown, so you must evaluate it before the transaction, and confirm that these premiums are acceptable to you before trading. Don’t forget to evaluate the transaction price for the sake of air coins. . Alternatively, you can transfer the coins back to FTX Pro, and then transfer the coins back to FTX to survive the transaction on Pro.

3. Organize encrypted news

There is a column of news in the FTX app. Under Signals, there are mostly FTX or Solana news. Under the News column, some international blockchain media news is reposted. Maybe you can consider using this as blockchain news. Information receiving station.

4. Withdrawal seems to be free of charge

The actual measurement is that there is really no transaction fee on the chain, even if you only transfer 0.0001 BTC!

Only available in FTX, FTX Pro needs to pledge FTT platform currency to have the number of free ERC20 withdrawals per month, but you also know that the on-chain transfer fee of Ethereum or Bitcoin main network is so high, do not know that FTX can How long does it take to provide free withdrawals, so I use it as a little secret among everyone and use it in a low-key manner. Thank the boss for doing public welfare. Don't take convenience as a casual or send a transaction of 0.0001 BTC for testing like me. I really need to pay Kim use it again.

In addition, I would like to emphasize again that FTX and FTX Pro transfer funds to each other, and internal transactions will not be on the chain, so even if you use the most expensive ERC20, the handling fee is still 0!

Epilogue

The nine functions of the FTX exchange are roughly introduced. It is a powerful and interesting exchange. My personal favorite parts are the equity token of FTX Pro, the 8% survival of FTX, and the free withdrawal fee. , which makes the use of my funds more flexible, and I can also use cryptocurrencies to invest in U.S. stocks, saving the pain of re-entrusting or opening an account with an overseas broker!

If it is the first time for you to come into contact with cryptocurrency exchanges, it is also a direction for steady growth from a centralized exchange such as FTX to a decentralized exchange. Maybe I will introduce other world-class exchanges later. , the above is not necessarily correct, so if you like it or have any suggestions, please leave a message to discuss with me, remember to DYOR before any action, don't lose your hard work where you can avoid it money.

Use the referral code to apply for an additional 5% handling fee discount

If you like this article and are very interested in the FTX exchange, please use my referral link to register the exchange to support me, or enter the referral code "ITechNote" to directly enjoy a 5% discount on handling fees. Pledge the FTT platform currency issued by FTX, you can enjoy 62% fee reduction in the highest stage, and if the transaction volume reaches a certain amount, you can enjoy zero transaction fee for Maker (Maker), 0.015% transaction fee for Taker (Taker), and I You can also get very meager feedback.

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