How to Swap FTM to DAI
Fantom is a viable Ethereum alternative for those looking for a similar but faster and more scalable smart contract platform. FTM can be a smart investment, but if the crypto market is volatile, a stablecoin could be a wise temporary option. DAI is a collateral-backed coin tied to USD, but is it worth considering?
Our article tries to reveal if an FTM to DAI swap would be profitable. We discuss both coins and the latest price changes to help you decide whether you should go ahead with the trade.
What Is FTM?
Fantom claims to be an innovative smart contract platform. In reality, it’s an Ethereum alternative, but one that offers better scalability. The unique structure features a base Fantom opera layer, and independent layers that each user can create. Creators can also configure blockchains that they launch to fit their particular applications.
Fantom uses the Lachesis consensus mechanism. It maximizes speed while maintaining security, and thousands of transactions per second occur on the platform. The time of finalizing a single transfer is close to a single second, with the average transaction cost being less than $0.01.
At this point, Fantom has a comprehensive ecosystem that hosts games, NFTs, DeFi, and other decentralized apps. FTM is the platform’s native token. Apart from using it for gas fees and staking, it also offers governance rights. If you need more ideas about crypto investment options, check out the NEAR versus HBAR comparison for more information on these projects.
FTM Price Changes
Fantom’s price revolves around $0.70 these days. If you look at the value five years ago, it was $0.021. FTM had a true boom in 2021 when it reached $3.48.
If we fast forward to 2024, the last few months were exciting. FTM ended 2023 at around $0.55, and the huge jump in March led it to $1.13. It now stabilized at the current value, but the forecasts are positive. Most experts agree that it’s only a matter of time before Fantom will exceed the $1 value again.
What Is DAI?
DAI is a stablecoin on the Ethereum network. It aims to maintain the 1:1 value with USD via collateral backing. That means that the platform uses smart contracts to lock various crypto assets to secure the targeted $1 coin worth.
An autonomous and decentralized ecosystem called the Maker Protocol is behind the DAI token. The collateral system enables the lender to access a loan by agreeing to lock some of their owned assets.
DAI Price Changes
There’s not much to discuss regarding DAI’s price changes, considering it’s a stablecoin. In the last 12 months, the coin didn’t have many deviations from the targeted $1 value. It happened a few times that it dropped to $0.99978 or increased to $1.0001. That means that the current trend shows that DAI is stable.
It wasn’t always like that since DAI had an all-time high in November 2021. It reached $3.67, but a few bad years followed. Furthermore, DAI dropped to an all-time low of $0.89 in March 2023. Fortunately, the latest graphs don’t show volatility, making this stablecoin a wise choice.
Best FTM to DAI Exchange Platforms
Our experts analyzed the crypto market carefully, and these are our recommendations for trading FTM and DAI:
- Godex. Godex ticks all the boxes important to newbies and advanced traders, starting with locked conversion rates. Beginners appreciate the simple interface and only a few steps to trade completion. Expert investors love that there are no trading limits. Everyone enjoys that Godex is non-custodial and anonymous, meaning you’ll have complete privacy on the platform.
- SimpleSwap. Registration isn’t necessary, but it unlocks access to certain perks, such as a loyalty program. SimpleSwap allows both floating and fixed rate conversions. Trading is simple and fast, with over 1,000 currencies supported.
- Atomic Wallet. This centralized and anonymous software is a secure option to store and trade your crypto. It supports FTM, DAI, and 1,000 other coins. You can also stake crypto to earn potential profit. The software is free and available on desktop and mobile devices.
FTM to DAI: Time to Swap
Crypto investors resort to stablecoins, swapping FTM to DAI in times when they need to navigate a tough market period. They don’t want to leave the market or lose the portfolio value, which is why they acquire stablecoins like DAI until the storm passes. We always suggest going with an anonymous crypto exchange, especially since it enables getting your DAI coins quickly and without registration.
