ftm-inr trading

What is the New FTM/INR pair on Pi42?

Greetings, Pi42 traders!

Get ready to explore the exciting world of Decentralized Finance (DeFi) with Fantom (FTM)!  Now, Indian crypto enthusiasts can leverage Pi42 to trade FTM directly with the Indian Rupee (INR).

What is Fantom (FTM)?

Fantom is a high-performance blockchain platform designed for smart contracts and DeFi applications. Here’s what makes Fantom stand out:

  • Scalability: Fantom boasts a unique architecture that enables significantly faster transaction processing compared to traditional blockchains, ideal for a seamless DeFi experience.
  • Security: The platform prioritizes robust security measures to ensure a reliable environment for deploying smart contracts and DeFi applications.
  • Interoperability: Fantom is built for interoperability, allowing it to connect seamlessly with other blockchain ecosystems.

Key Features of Fantom (FTM):

  • Opera Chain: Fantom utilizes its custom Opera Chain, known for its high speed and low latency.
  • Lachesis Consensus Mechanism: This novel consensus mechanism allows for efficient block finalization, contributing to faster transaction processing.
  • EVM Compatibility: Fantom is compatible with the Ethereum Virtual Machine (EVM), enabling seamless integration with existing DeFi tools and applications.

Benefits of Trading Fantom (FTM) on Pi42:

  • Tax Efficiency:
    • No TDS (Tax Deducted at Source): Simplify your tax calculations and avoid upfront deductions on your crypto trades.
    • No VDA Tax (Virtual Digital Asset Tax): Benefit from the absence of this recently proposed tax in India
    • Loss Offsetting: Offset potential losses from your crypto trades with your gains for tax optimization purposes.
  • Thinner Spreads: Pi42 strives to provide competitive bid-ask spreads, potentially leading to more favorable execution prices for your trades.

Ready to Trade Fantom (FTM)?

Here’s a quick guide to get you started:

  1. Login: Access your Pi42 account.
  1. Navigate: Head to the trading terminal.
  1. Select the Pair: Choose FTM-INR from the dropdown menu.
  1. Define Your Position: Enter your desired investment amount, select your preferred leverage, and adjust the percentage according to the minimum asset requirements.
  1. Set Limits (Optional): Establish Take Profit and Stop Loss orders to manage your risk.
  1. Execute Your Trade: Click “Buy/Long” or “Sell/Short” based on your market analysis.
  1. Track Your Trade: Monitor your open positions in the “Orders and Positions” section below the trading chart.

Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.