Are you 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 APYs across several protocols.
Learn how to buy FTM on Canadian crypto exchanges, including Newton, Wealthsimple Crypto, and Binance.
Where To Buy Fantom (FTM) in Canada
Fantom can be traded on several crypto exchanges in Canada, including:
1. 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 $25 cash bonus when you fund your new account and deposit at least $150 worth of crypto.
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. Binance
Binance supports 350+ cryptocurrencies, including Fantom.
While it is available to Canadians, Ontario residents cannot trade on Binance after it suspended operations in that province.
You can fund your Binance account through several means, including credit cards, debit cards, bank transfers, 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.
4. NDAX
NDAX is one of the best platforms to buy FTM in Canada. The exchange suits 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. There are also competitive fees when you withdraw fiat or crypto. Fiat deposits are free.
Learn more in this review.
5. 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.
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.
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:
- Open a crypto account at your preferred exchange and confirm that they offer FTM before signing up.
- Fund your account using Canadian dollars or transfer in crypto from your hardware wallet or another exchange.
- Place a ‘buy’ trade for FTM.
- 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).
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 send 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/).
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.
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.
Buy Fantom Canada FAQ
Fantom is available on NDAX, Newton, and Wealthsimple Crypto.
Yes, Fantom is supported by Binance. That said, Binance is not available in Ontario.
Canadians can also buy Fantom on Coinbase; however, watch out for multiple layers of fees.
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:
- How To Buy Decentraland (MANA)
- How To Buy Uniswap in Canada
- How To Buy Bitcoin Cash
- Best Crypto Wallets in Canada
- Bitget Crypto Exchange Review
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.
