Cheapest Way To Buy Fantom Coin Mainnet (FTM)

DCV - March 17, 2022


Hi, this post details the cheapest way I bought Fantom coins and deposited them in my Metamask wallet for DeFi applcations on the Fantom chain mainnet. How I did it avoids gas fees on the Ethereum network.

Currently, if I buy from a centralized exchange like Gemini, I'm buying the ERC20 version of the Fantom coin and if I need them on the Fantom blockchain, I have to bridge from them the Ethereum chain. This was costing me about $20 just to approve the bridge and then another $40-$50 to actually do the bridge.

I already made the mistake of approving the bridge on the Ethereum network and paid those fees but I didn't want to pay anything else. So for this process of buying Fantom coins and getting them on the Fantom chain mainnet in the cheapest way currently possible, I'll need just a couple of things.


  1. This first thing is a Metamask wallet setup on my Chrome or Brave browser.
  2. And secondly, I need either some Binance coin or Avalanche coin available in my Metamask on their respective blockchains.

I'm going to go through the full process on how I bought Fantom coin using Binance Coin (BNB) but the same exact process can be done using Avalanche coin (AVAX). BNB can be bought with fiat on Binance.us or converted from other crypto. See this video if you have ETH you want to swap to BNB. Using BNB in this process is the cheapest but using AVAX is still feasible and AVAX can easily be bought on Coinbase. Let's get started.

With BNB in my Metamask wallet, the first step is to navigate to a DeFi swapping protocol. I'm using Spirit Swap because they currently give 0.4 Fantom coins to new users to use on the Fantom network.

This will be important if I have no Fantom in my wallet and need to pay for transaction fees. If you don't have any Fantom to start with, you can also Google for "Fantom Faucet" to get a small amount of FTM in your wallet for free.

I click on "Enter App" and click on "Bridge". That brings me this page where Spirit Swap asks me to select the two blockchain networks I want to bridge. Bridging is the process of locking up a coin on one chain to then mint an equivalent amount on another chain so that it can be used on the new network. Since I have BNB, I want to select BSC which stands for "Binance Smart Chain" as the "From Chain". Metamask will pop up to ask me to confirm the network switch.

Then, since I want to bridge to the Fantom network, I want to select Fantom as the "To Chain". Next, I want to click on "Select a currency" and look for BNB. It should have my BNB balance showing.

There is a minimum amount of BNB that I'm allowed to bridge. I'll input that amount, which happens to be .044 BNB at the moment.

A couple of things to note, there is no fee to bridge BNB which is nice and there's an alert here that says that Spirit Swap will deposit 0.4 FTM in my wallet if this is my first time bridge which is great.

I make sure everything looks good and click "Bridge Token". Metamask will pop up to confirm. I check the info and click "Confirm". After a minute or two, I can see that my BNB balance in my Metamask wallet on the Fantom Network has updated.

If this was my first time bridging BNB to Fantom, I would need to import the token in my wallet for the balance to show up. I can do this by copying the BNB contract address from Fantom Scan, clicking "Import a token" in Metamask, paste in the address and click "Add Custom Token".

The next step is to swap my BNB on the Fantom network to FTM. For this step, I'm using Spooky Swap which is a DEX running on the Fantom Network. I navigate to spookyswap.finance, make sure my Metamask is connected and set to the Fantom network, and then click "Swap".

That brings me to this page where I select BNB for the "From" token and FTM for the "To" token. I input the amount I want to swap and in this case, I just click the max amount.

I make sure everything looks good and then click "Swap". Metamask will pop up to confirm. Here is where that initial amount of 0.4 FTM coins is important. Without that free deposit from Spirit Swap, I would not have been able to complete this swap because I would have no FTM to pay for this initial transaction.

Once confirmed, the transaction goes through in a few seconds. I open up my Metamask and check that my Fantom coin balance has updated AND that my BNB balance has gone to zero.

And that's it. That is the cheapest way I've found to buy Fantom coins on the Fantom mainnet without paying for the insane Ethereum gas fees. I hope this post helped you out. As always, stay safe and thanks for reading.

Check out the YouTube version of this post:



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