How to Get Started on the Fantom Network (FTM) WITHOUT going through Ethereum (ETH) First!
I am OBSESSED with the DeFi ecosystem on the Fantom Network ($FTM). I have been looking for a new “DeFi” home since getting priced out of Ethereum ($ETH). Polkaswap ($PSWAP) on SORA ($XOR), ETH Dexs on Abr1… but NOTHING I have seen compares to Fantom. I will, of course, pump out videos on DeFi, yield farming, staking, etc., shortly… but first, I need to answer the question that consumed several of my own afternoons… “How do I get my money or current cryptos over to Fantom?”
A good friend of mine just recently said “I like your videos but… how do I start? I use CIBC (one of Canadas Big 5 banks)… what next?” and I knew right away, this was something SOOO many people must be going through (heck, I went through it like a month ago!)
It used to be easy (at least for those outside the US, it’s always been hard for them). Binance let you withdraw from Binance.com directly into your Fantom wallet using the Fantom Network (amazing, I know!).
BUT, as Fantom became the new HOTNESS of crypto a few weeks back and money and developers started flocking to Fantom, Binance suspended Fantom withdrawals… So, this video is meant to help those of you looking to get funds over to Fantom without using the Ethereum network (which, for the record, I LOVE but am currently priced out).
It’s a long video, skip around to the parts that apply to you and please consider supporting the channel below if this helps!
Chapters:
0:00 Intro
0:42 Objectives: Get $FTM on Fantom Network while avoiding ETH fees
1:38 Agenda: High level overview of what we’re doing in the video
3:55 Set-up: Administrative steps required if you do NOT yet have MetaMask and Binance Wallet
4:38 MetaMask extension: How to get MetaMask, create a wallet and get set-up on Chrome
6:22 Binance Wallet extension: How to get Binance Wallet, create a wallet and get set-up on Chrome
8:10 Add Fantom Network and Binance Smart Chain to MetaMask
11:50 Sending Bitcoin (BTC) from Coinbase to Binance
13:55 Converting BTC to BNB with a market order on Binance
16:40 Taking custody of BNB token using the Binance Wallet
19:10 Converting BEP-2 to BEP-20: This is largely for US residents. As I understand it (I cannot confirm as I do not have access), Binance.us only allows withdrawals to BEP-2 (Binance Chain Network), not BEP-20 (Binance Smart Chain Network). Binance.com users can withdraw their BNB from Binance’s exchange straight to their MetaMask wallet using the Binance Smart Chain (BEP-20) and skip the step where we withdraw to BEP-2; however, I have included this step so that binance.us and binance.com users can follow along. Here is the video I refer to • Video
20:04 Sending BNB from Binance Wallet to MetaMask using Binance Smart Chain Network (BEP-20)
21:06 Bridging BNB from Binance Smart Chain Network (BEP-20) to Fantom Network using the Spookyswap Bridge
22:55 Add BNB token to your Fantom Wallet (it can be scary when you don’t see it… It should be there within a few seconds)
23:51 Swapping BNB for FTM tokens using Spookyswap (spoiler alert: it doesn’t work!)
24:50 How to get some free FTM to enable the swap using a “Fantom faucet” in Discord (you must have had a Discord account for at least 30-days to do this)
28:28 Plan B: How to get some free FTM if you haven’t had Discord for 30-days
29:08 Swapping BNB for FTM tokens using Spookyswap (for real this time!)
SUPPORT THE CHANNEL:
Binance refer-a-friend: get 10% of trading fees*
https://accounts.binance.com/en/regis...
Coinbase (Canada only): Get $10 free referral bonus: https://www.coinbase.com/join/szathm_...
Shakepay (the BEST in CANADA imho): Get $10 free referral bonus
https://shakepay.me/r/V9303SL
Tip Jap donations (FTM only): use Send in MetaMask to send a tip in $FTM to my tip jar address:
0xAF55365De1bD37F9C9C45A320A0c0339e738050c
You and I get 10% of your trading fees on Bianance, lowering your “commissions” by 10%; see T&Cs for full details
** We each get $10 when you open an account using the link above and buy at least $100 in crypto; see T&Cs for full details
Other Reference Links:
Chrome web store: https://chrome.google.com/webstore/ca...
MetaMask extension for Chrome: https://chrome.google.com/webstore/de...
Binance Walletn extension for Chrome: https://chrome.google.com/webstore/de...
Chainlist.org
Spookyswap.finance
FTMAlerts.com ← follow them on Twitter, they’re SOOO good. / ftmalerts
Binance.US Video I Mention: • Video
Links to FAUCETS on Reddit:
/ the_pay_it_forward_faucet
OR, DM me on Twitter: / speculation_of
