Fasttoken (FTN) is the native cryptocurrency of the Bahamut blockchain, a public EVM-based layer 1 solution. It serves as a utility token, enabling staking, block creation, and validation mechanisms, as well as cross-chain operations. Initially, FTN was an ERC-20 token used for the SoftConstruct ecosystem, facilitating business and personal transactions. It is now integrated into various online platforms, including gaming, iGaming, and e-commerce, and is supported by multiple payment providers.
Fasttoken (FTN) is used in various ways across different platforms and ecosystems. Here are some key use cases:
Native Currency of Bahamut Blockchain: FTN is the native currency of the Bahamut blockchain, a public EVM-based layer 1 solution with a novelty consensus called Proof of Stake and Activity (PoSA). It serves as the gas unit for Bahamut, enabling staking and block creation and validation mechanisms, as well as cross-chain operations.
Gaming and iGaming: FTN is used as a utility token in multiple online websites, including gaming and iGaming platforms.
Payment and Settlement: FTN can be used for settling business arrangements within the SoftConstruct network. It is also integrated with over 10 payment providers, including MoonPay, Alchemy Pay, and Simplex by Nuvei.
E-commerce: FTN is used in e-commerce platforms, allowing users to make purchases and transactions.
Staking and Block Validation: FTN is used as a staking and block validation rewards currency within the Fastex Chain blockchain solution.
Crypto Rewards Program: The SoftConstruct Crypto Reward Program allows users to benefit from either using or holding FTN in both daily and monthly activities.
- Decentralized Applications: FTN is used to fuel blockchain-based and blockchain-related apps within the Fastex ecosystem.
These use cases highlight the versatility and broad adoption of Fasttoken across various industries and platforms.
To store Fasttoken (FTN) tokens securely, it is recommended to use cold wallets, which are offline storage solutions. There are two types of cold wallets:
Paper Wallet: This involves generating a public and private key offline using a program and printing them on a piece of paper. The keys are printed in the form of QR codes, which can be scanned for future transactions. Store the paper in a secure location.
Hardware Cold Wallet: This is a physical device, such as a USB drive, where you can store your cryptocurrency. Only the person with the USB drive can access the assets. Hardware cold wallets are preferred for storing large numbers of coins or tokens.
To buy Fasttoken (FTN) tokens, follow these steps:
Choose a Centralized Exchange (CEX):
- Select a reliable and trustworthy crypto exchange that supports Fasttoken (FTN) purchases. Consider the ease of use, fee structure, and supported payment methods when choosing a crypto exchange.
Create an Account:
- Enter the required information and set a secure password. Enable 2FA using Google Authenticator and other security settings to add an extra layer of security to your account.
Verify Your Identity:
- Complete KYC verification by providing the necessary information, which may vary based on your nationality and region. This step is crucial for accessing more features and services on the platform.
Add a Payment Method:
- Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment method. The information you need to provide may vary depending on your bank's security requirements.
Buy Fasttoken (FTN):
- Use fiat currency to buy Fasttoken (FTN) if supported. Alternatively, you can first purchase a popular cryptocurrency like USDT and then exchange it for Fasttoken (FTN).
Store Your Tokens:
- For long-term storage, consider using a cold wallet, which is offline and more secure. You can choose between a paper wallet or a hardware cold wallet.
Additionally, you can also use other platforms like Fastex Exchange, MEXC, and SimpleSwap to buy Fasttoken (FTN). Each platform has its own specific steps and requirements, but they generally involve creating an account, verifying your identity, adding a payment method, and executing the purchase.