In addition to competitive returns and low fees, staking FTT token brings about multiple benefits for investors.

In this digital era, more and more people want to grow their assets or wealth quickly. They want to get passive income in many different ways, and they want to do this in many ways.

Cryptocurrency is a way for us to make extra money that doesn't require us to work. We can make money in the crypto industry by staking. In simple terms, staking and deposits are very similar in how they work. A person who invests in a Proof of Stake (PoS) blockchain, or "validator," must store and then lock their money in a digital wallet. This person is called an "investor."

When people who own crypto assets stake, they help other crypto holders because they validate transactions or any other activity that takes place on the blockchain. Validation is done based on how many crypto assets each person owns.

There are many coins to stake, but not all are capable of generating high returns. One promising coin for investors to stake is FTT, which stands for the exchange token for the FTX exchange.

FTT staking

 

When We Invest in FTT, What Can We Get?

  • Referrers who stake FTT get a bigger share of their referees' fees.
  • Stakers who take part in polls get extra votes (in addition to the standard number of votes, based on FTT held and trading volume).
  • Stakers get more SRM airdrops from taking part (and potentially later other airdrops and yield).
  • Stakers get to make a number of free withdrawals of ERC20 and ETH each day.
  • Stakers get tickets to IEOs that are held in FTX.

 

How to Stake FTT?

If you want to bet on the FTT, you can do that on the FTX platform. Here is the simple guide:

  1. After signing up with FTX, visit the "Markets" section and choose your FTT pair there before you do anything else.
  2. Then, go to the FTT page or click "FTT" on the top bar.
  3. "FTT Staking" is the third step. To do this, scroll down to "FTT Staking" and click "Stake."
  4. Put in the amount and click "Stake".

In most cases, people can stake for a set amount of time, like one week, one month, three months, or even six months. Some even offer up to one year. The more time an asset is kept, the more money it will make. But it is worth noting that during the FTT Token offering process, you can't get back tokens that have been stored or locked.

 

Important Rules of Staking FTT

When you do FTT Staking, you have to meet a set of rules before you can do it. Here are some of them:

  • To own and stake FTT, all users must pass KYC 1.
  • Only users that have passed KYC 2 can get SRM reward money, and all users must follow the FTX terms of service.
  • The asset has to be locked for two weeks before it's released, and staked FTT can't be used as collateral.
  • For SRM airdrops, users must have at least 500 FTT in their FTX account, whether it's staked or not.
  • If two things set your costs, like a rebate from the maker, you get the best of both of them.
  • In the end, fees must not be less than 0.015 percent.
  • For non-VIP fees, the beneficiary fee minus the referral rebate can't be less than 0.03 percent. If more than that, the extra will be deducted from the referral rebate.
  • Referring a VIP account doesn't get you referral rewards, but VIP accounts can still get rewards for referring other people to them.
  • External referral programs, as well as other promotions, can change people's referral habits.

 

Other than FTT, there are some promising tokens you can add to your consideration when it comes to staking. The list can be found in the "Most Profitable Coins for Staking".