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Cryptocurrency & Blockchain · head to head

FTX vs Remitly

F

FTX

Cryptocurrency & Blockchain

Cryptocurrency derivatives exchange

From
Free
Rated
-
Full reviewWebsite
Remitly logo

Remitly

Personal Finance

Send money faster to loved ones abroad

From
On request
Rated
-
Full reviewWebsite

The short version

  • Only FTX has a free tier, so it costs nothing to try first.
  • Each has a real cost: FTX the exchange collapsed and FTX Trading Ltd filed for Chapter 11 bankruptcy protection on 11 November 2022; Remitly no fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor
  • They diverge on capability: FTX covers Futures Trading, Remitly covers International remittances.

Where they differ

Only the attributes on which FTX and Remitly actually diverge.

Attributes where FTX and Remitly differ
AttributeFTXRemitly
Starting priceFreeOn request
Pricing modelfreemiumtransaction
Free tierYesNo
CategoryCryptocurrency & BlockchainPersonal Finance
Founded20192011

Identical on both: platforms (Web, Ios, Android), user rating (Not yet rated).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in FTX

  • Futures Trading
  • Options
  • Leveraged Tokens
  • Spot Trading
  • FTT Token
  • Serum DEX
  • Ios support

Only in Remitly

  • International remittances
  • Multiple delivery methods
  • Send money to 200+ countries
  • Currency conversion
  • Bank accounts
  • IOS support

Both cover

  • Web support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

FTX

  • Exchangesnot Remitly
  • Derivativesnot Remitly
  • Tradingnot Remitly

Remitly

  • Sending cross border remittances from a phone or browsernot FTX
  • Delivering funds to bank accounts, cash pickup and mobile wallets abroadnot FTX

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

FTX

  • The exchange collapsed and FTX Trading Ltd filed for Chapter 11 bankruptcy protection on 11 November 2022
  • Around 130 affiliated companies including Alameda Research entered the same proceedings, with more than 100,000 creditors and assets and liabilities each between $10 billion and $50 billion
  • Founder Sam Bankman-Fried resigned as CEO on the filing and was replaced by John J. Ray III
  • It is not a service anyone can sign up for; the estate exists to repay creditors

Remitly

  • No fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor
  • The Express and Economy delivery options have no published price difference

Pricing, plan by plan

FTX

Free
  • StandardFree
    • Spot trading
    • Futures
    • Options

Remitly

On request
  • Express$undefined/month
    • Fast transfers
    • Multiple delivery methods
  • Economy$undefined/month
    • Lower cost option
    • 3-4 day delivery

Which should you pick?

Choose FTX if

  • You need futures trading.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want options.
FTX review

Choose Remitly if

  • You need international remittances.
  • You work on Web, IOS, Android.
  • You also want multiple delivery methods.
Remitly review

Questions people ask

Is FTX or Remitly better?
Neither clearly leads. FTX starts at Free and Remitly at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, FTX or Remitly?
FTX has a free tier; the other does not. Paid plans start at Free for FTX and On request for Remitly.
Does FTX or Remitly run on more platforms?
FTX runs on Web, Ios, Android. Remitly runs on Web, IOS, Android.
Can I use FTX for free?
Yes. FTX has a free tier, so you can try it without paying. Remitly starts at On request.
What is FTX best used for?
FTX is most often used for exchanges, derivatives, trading. Of those, exchanges and derivatives are not what Remitly is typically brought in for.
What can FTX do that Remitly cannot?
FTX covers Futures Trading, Options, Leveraged Tokens, Spot Trading. Remitly covers International remittances, Multiple delivery methods, Send money to 200+ countries, Currency conversion. Both handle Web support, Android support.

Answered from the vendors’ own pages

FTX: What happened to FTX?

FTX filed for bankruptcy on November 11, 2022, after revelations about Alameda Research's massive holdings of FTX's token (FTT) triggered a liquidity crisis. The platform collapsed within days as a competing rescue deal fell through.

Source
FTX: Can I recover funds from FTX bankruptcy?

FTX has been in Chapter 11 bankruptcy proceedings since November 11, 2022. Customer funds have been subject to claims through the bankruptcy process, with asset recovery efforts ongoing.

Source
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Related pages

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