How To Buy Fantom (FTM) in Canada: 5 Best FTM Crypto Exchanges

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by Enoch Omololu

Updated

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Looking to buy Fantom (FTM) tokens in Canada?

This guide covers how and where to buy the Fantom cryptocurrency right now.

Fantom is a smart contract platform that has grown in popularity in the dApps space for fast transactions and low cost.

You can also stake its native token, FTM, and earn high APY’s across several protocols.

Read on to learn about how to buy FTM on Canadian crypto exchanges including NDAX, Newton, Wealthsimple Crypto, and Binance.

What is Fantom (FTM)?

Fantom is a high-speed, leaderless, open-source smart contract platform for decentralized applications( dApps) and digital assets.

It was founded by South Korean computer scientist Dr. Ahn Byung IK in 2018, and Fantom’s mainnet, OPERA, launched in December 2019.

The Fantom blockchain network is built to provide a steady balance of decentralization, scalability, and security at lower costs, hence providing a viable solution to the blockchain trilemma faced by other blockchain networks like Bitcoin and Ethereum.

To achieve that, Fantom employs a bespoke version of the Proof-of-Stake mechanism called Lachesis to scale and secure the network, which includes:

  • Asynchronous Byzantine Fault Tolerant (aBFT): Forms a global, trustless, and leaderless PoS network of validators to secure the Fantom network.
  • Directed Acyclic Graph (DAG): Records network events with each node achieving internal consensus independently.

Thus, the network can maximize speed while preserving network security, and transactions are confirmed and finalized in a second and cost a fraction of a cent.

Fantom is also EVM-compatible, allowing developers to deploy and run Ethereum dApps on Fantom at extremely low fees.

The Fantom blockchain network is powered by its native utility token, FTM, which is used for governance, staking, payments, and covering gas fees on the network. 

Currently, there’s a circulating supply of 2.5 billion FTM tokens and a total supply of approximately 3.17 billion FTM coins.

Where To Buy Fantom (FTM) in Canada

Fantom can be traded on several crypto exchanges in Canada, including:

1. NDAX

NDAX is one of the best platforms to buy FTM in Canada.

The exchange is suitable for both new and experienced traders and offers access to multiple order types and charting tools.

In addition to Fantom, you can also use NDAX to buy and sell 30+ other cryptocurrencies including LUNA, AXS, MANA, COMP, XLM, DOGE, AVAX, HBAR, AND SHIB.

To fund your account, NDAX supports Interac e-Transfers, wire transfers, bank drafts, and cryptocurrency deposits.

Trading fees are 0.20% per transaction (one of the lowest). There are also competitive fees when you withdraw fiat or crypto. Fiat deposits are free.

Promotion: Get a $10 bonus when you fund your new account with at least $100.

Learn more in this review.

2. Newton

Newton is a crypto brokerage platform designed with beginners in mind.

It supports more than 70 cryptocurrency assets including Fantom (FTM), AAVE, ENJ, KNC, MATIC, BTC, XLM, UST, REN, ANKR, and several others.

To fund your Newton account, you can use Interac e-Transfer, bank wire, or transfer crypto from your external wallet.

Trading fees on Newton are included in the price and are up to 0.70%. There are no fees to deposit or withdraw Canadian dollars and the platform also covers the first $5 of network fees.

Promotion: Get a $25 bonus after buying $100 worth of crypto in your new account.

3. Wealthsimple Crypto

Like Newton, Wealthsimple Crypto is a beginner-friendly crypto trading platform.

Owned by Canada’s largest robo-advisor, Wealthsimple, this broker supports more than 30 crypto coins including Fantom, UMA, UNI, YFI, FIL, ETH, CRV, and several others.

To fund your account, you can use electronic funds transfers.

Trading fees on this platform range between 1.50% and 2%; however, fiat deposits and withdrawals are free.

Promotion: Get a cash bonus when you fund your new account and trade at least $300 worth of crypto.

4. Crypto.com

Crypto.com offers more than just crypto trading. You can also use the platform to stake your coins or get a crypto Visa card.

Crypto.com supports 150+ cryptocurrency pairs including Fantom FTM. It is based in Hong Kong and is available in multiple countries.

To fund your account, it supports credit cards, debit cards, and bank transfers.

Trading fees vary depending on your account tier and can be up to 0.40%. When paying with its native token, the Crypto.com Coin (CRO), you get significant fee discounts.

Promotion: Get a $25 bonus when you stake CRO for a Ruby Visa Card or higher.

Learn more in this Crypto.com review.

5. Binance

Binance supports 350+ cryptocurrencies including Fantom.

While it is available to Canadians, Ontario residents are unable to trade on Binance after it suspended operations in that province.

You can fund your Binance account through several means including credit card, debit card, bank transfer, and crypto deposits.

Trading fees vary depending on your account tier and can be up to 0.10%.

Promotion: Get a 20% discount on trading fees plus an extra 25% discount when you pay with BNB.

Learn more in this Binance review.

6. Coinbase

Coinbase is a U.S.-based crypto exchange. It is a publicly traded company with over 68 million verified users worldwide.

The platform offers FTM and 100+ other coins.

To fund your Coinbase account, you can use your debit or credit card.

Trading fees on this platform can be up to 0.50%, plus variable fees for deposits and withdrawals.

Promotion: Get a $10 bonus when you buy $100 USD (or equivalent in local currency) worth of crypto in your new account.

Learn more in this Coinbase review.

Some other popular crypto exchanges to buy Fantom in Canada are KuCoin, FTX, and Gemini.

How To Buy Fantom in Canada

To buy FTM in Canada, follow these steps:

  1. Open a crypto account at your preferred exchange and confirm that they offer FTM before signing up.
  2. Fund your account using Canadian dollars or transfer in crypto from your hardware wallet or another exchange.
  3. Place a ‘buy’ trade for FTM.
  4. Move your Fantom tokens to a crypto hardware wallet where it is off the internet. Alternatively, you can leave FTM on the exchange (not recommended if you have a large amount).

Crypto Trading Platforms for Fantom in Canada

NDAX
ndax
Wealthsimple Crypto
WS logo
Newton
newtonlogo

$10 sign up bonus when you deposit $100

$100 sign up bonus when you trade $300 worth of crypto within 30 days

$25 sign up bonus when you trade $100 worth of crypto

Great for advanced traders and newbies

Best crypto platform for beginners

Good for beginners

Offers 30+ coins

Offers 40+ coins

Offers 70 coins

How To Store Fantom

Fantom can be stored on various hardware, mobile and software wallets. My top choice for a hardware wallet is Ledger.

You can also use software wallets like MetaMask, Coinbase, Trust Wallet, Math Wallet, etc.

Double-check the type of Fantom token you are sending to a wallet and make sure it supports it. For example, you can store mainnet FTM on the Fantom Ledger app.

If you have an FTM ERC20 token, you should send them to a compliant wallet or swap them first to mainnet FTM using (https://multichain.xyz/).

Is Fantom a Good Investment?

Fantom is a popular smart contract platform for decentralized applications and it has seen significant traction in the last year.

Given the well-known challenges faced by Ethereum (i.e. network congestion and high gas fees), alternative dApps platforms like Fantom and Solana are seeing increasing adoption and may perform well in the future.

Is FTM a good investment? Like everything else crypto, my answer is that it remains to be seen.

Here are some key FTM details as of March 19, 2022 (as per CoinMarketCap)

  • FTM price: $0.57 USD
  • Market cap: $1.4 billion
  • Market rank: #47
  • Circulating supply: 2.55 billion FTM
  • Maximum supply: 3.175 billion FTM

Buy Fantom Canada FAQ

Where can I buy Fantom crypto in Canada?

Fantom is available on NDAX, Newton, and Wealthsimple Crypto.

Can I buy Fantom on Binance?

Yes, Fantom is supported by Binance. That said, Binance is not available in Ontario.

Can I buy Fantom on Coinbase?

Canadians can also buy Fantom on Coinbase; however, watch out for multiple layers of fees.

Where can I store Fantom?

You can store Fantom FTM on Ledger and Trezor hardware wallets. Check the type of FTM token you have and ensure you send it to the appropriate wallet e.g. Opera mainnet FTM to Fantom wallet.

Related:

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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