Cryptocurrency Q&A
Is FTT a coin or token?
Is FTT a coin or token?
GemmaTaylor
Fri Jun 14 2024
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6 answers
1096
Could you please clarify for me the nature of FTT? Is it categorized as a coin or a token within the realm of cryptocurrencies? I'm trying to understand its functionality and position in the digital asset ecosystem. Could you explain the differences between a coin and a token, and how FTT specifically fits into that classification? It would be greatly appreciated if you could provide some insight into this matter. Thank you in advance for your assistance.
6 answers
Stefano
Sun Jun 16 2024
Despite its non-mineable nature, FTT holders and stakers are incentivized with rewards. This mechanism encourages participation and supports the token's ecosystem.
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CryptoGuru
Sun Jun 16 2024
As of May 2022, FTX, a leading cryptocurrency exchange, introduced a trading discount for FTT holders. This discount serves as an additional incentive for token holders.
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ethan_thompson_journalist
Sun Jun 16 2024
Holders of FTT with a value exceeding $100 are eligible for a trading discount of 3% on FTX. This discount applies to their trading activities on the platform, reducing trading costs.
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Silvia
Sun Jun 16 2024
The introduction of this discount not only benefits individual holders but also strengthens the overall FTT community. It encourages more users to hold and stake FTT, further supporting the token's utility and liquidity.
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GwanghwamunGuardian
Sun Jun 16 2024
Cryptocurrency tokens, such as FTT, differ significantly from coins. FTT, specifically, is a token rather than a mineable coin.
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