FTX is one of the worlds most popular crypto exchanges and trading platforms. I’ve been using FTX for the last couple of years and it has quickly become my favourite trading platform for cryptos. It is super reliable, has excellent fees and a huge range of markets.
Here are 3 ways to make money on FTX from lending, staking and trading.
The most obvious way to make money on FTX is through trading. However, it’s also the riskiest and requires the most skill. That being said, the fastest way to make money in crypto is through trading.
On FTX you can trade perpetual futures, leverage tokens, tokenised stocks, futures and much more. They even offer prediction markets for things like the U.S election.
If you’re brand new to trading, I would recommend learning about Price Action trading. I wouldn’t recommend just jumping on FTX and just trading without knowing what you’re doing. That’s a great way to lose money!
If you have no trading skills there are other ways to make money which require no skill…
On FTX you can lend crypto. When you lend funds, it gets used by margin traders. In return they pay interest which you get to keep. Unlike a traditional loan, there isn’t a risk of the borrower defaulting. A borrowers margin positions will get liquidated before there is a risk of them not being able to pay back their loans. FTX also has an insurance fund in case of issues relating to closing positions.
The rates of return on lending isn’t amazing. You’re looking at making around 4% at best. It depends on the asset and the amount of demand. The upside is that it’s a relatively risk free way to lend crypto and make money from your existing investments.
FTX supports staking of various cryptos. For example, you can stake Solana through FTX and earn approx 6% per annum. This is a great way to make a little extra passive income, especially if you plan on holding a crypto for long term gains. The range of cryptos that can be staked through FTX is currently quite limited. Hopefully they will continue to expand this part of the site over the coming months.
Save 5% of Trading Fees
If you are thinking about signing up to FTX, make sure you use a referral code. You’ll save 5% off all trading fees for life! This really adds up, especially if you do a lot of trading.