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What is Factom?

Factom (FCT) is a cross chain token that allows communication between Bitcoin and an independent node utilising the Factom network. Factom looks to resolve scalability and bloat issues experienced by Bitcoin & Ethereum.

  • The FCT blockchain is broken up into three distinct nodes, Federated Servers, Audited Servers and Follower Servers. This is what allows for FCT’s cross chain ability as well as its fast performance.
  • Factom maintains a permanent, time-stamped record of your data in the blockchain, this reduces the cost and complexity of conducting audits, managing records, and complying with government regulations.
  • The project has gained backing by major institutions, including a $500,000 grant provided by the Bill and Melinda Gates Foundation, and a $200,000 grant from the Department of Homeland Security.

Factom is a scalable and practical solution to issues Bitcoin and Ethereum have been experiencing. This paired with some high profile investment could ensure its longevity.

How do I swap Factom?

Enter amount to swap
Select the quantity of Factom you would like to swap.
Select coin to swap with
Select the coin you would like to swap with.
Confirm & swap
Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about Factom

Why Should I Trade FCT with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over three million Australians. We make it easy to buy and sell Factom no matter what your trading experience is. Unlike other international and Australian Factom exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy Factom with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade Factom how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your Factom?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your Factom for free.

Cold Storage

If you are holding Factom as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy Factom. We are trusted by over three million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for Factom. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
Factom has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As Factom is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual Factom exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in Factom & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying Factom safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your Factom portfolio here.
Yes! With CoinSpot you can convert your Factom to AUD (Australian Dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.

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