Formula 1 racing is a popular sport. It has attracted millions of fans across the world. With this kind of audience, crypto trading platforms and exchanges are getting attracted to being part of the F1 sport. So, what are the top crypto exchanges in formula 1 today?
Every business exists to provide value or solve a problem to the targeted audience or market.
Formula 1 is big business. In fact, it is an ecosystem that generates billions of dollars every years.
Part of the money that F1 makes comes from sponsorships and ticket sales.
This is where crypto trading platforms come into the picture.
As the crypto exchanges grow, they are looking for new audiences to tap into.
Formula one racing provides them with such an opportunity. That is why a number of crypto trading platforms have signed sponsorship deals with F1 teams.
It is a win-win proposition for crypto companies and formula one.
In this article, I will look into the top crypto trading platforms or exchanges in formula 1 today.
These are platforms you can use to buy and sell cryptocurrencies like Bitcoin, Ethereum, Dogecoin or Chainlink among others.
What are Top Crypto Exchanges in F1 Today?
The top crypto firms in formula one as sponsors and partners are;
- Velas Network.
As you can see, these are the top cryptocurrency firms already engaged in formula 1.
Eight of the ten teams in F1 have a sponsorship or partnership deal with a cryptocurrency trading firm or exchange today.
9 Top Crypto Platforms in Formula 1 Racing
In formula 1 racing, cryptocurrency is gaining wide acceptability as a form of payment and fan engagement.
These crypto platforms and exchanges are using F1 as a marketing platform.
Top crypto platforms in formula one include;
This is a cryptocurrency exchange app. It has over 10 million users.
It has entered into a sponsorship and partnership deal with F1, as well as Aston Martin F1 team.
This exchange supports trading, investing, wallets, DeFi and NFTs among others.
Crypto.com and F1 – $100 Million Sponsorship
F1 got a boost from the $100 million sponsorship it received from Crypto.com
Crypto.com is now a global partner of formula one. It is also the official sponsor of the Miami Grand Prix in the United States.
This partnership has given rise to the Crypto.com Overtake Award. It is an award given to the driver with the most overtakes during a race.
Crypto.com and Aston Martin
It is important for you to note that besides F1, crypto.com also signed a deal with Aston Martin F1 team.
This deal brings into Aston Martin a partner who serves more than 10 million customers globally.
Crypto.com is the world’s fastest growing crypto app, along with Crypto.com Visa Card, the Crypto.com Exchange and the Crypto.com DeFi wallet.
This is a cryptocurrency derivative exchange.
In formula one, FTX is a sponsor of the Mercedes F1 team.
The deal will run for multiple seasons. FTX is getting branding and marketing opportunities.
For example, the logo of FTX will be displayed in Mercedes racing car and driver’s uniforms.
As a business, such exposure would increase visibility in the market. It has potential to get new customers from this sponsorship.
FTX is an easy to use crypto exchange where you can buy, sell, and store Bitcoin, Ethereum and other cryptocurrencies and digital assets such as NFTs.
This is the world’s largest crypto exchange.
You can use Binance to buy or sell bitcoin, and trade in ether among others.
Binance and Alpine F1 team agreed on a token partnership. This makes Binance the official token partner, getting the branding right on Alpine’s cars and merchandise.
Alpine will join the Binance platform, and create NFTs that fans can purchase.
Tezos is a decentralized open-source blockchain that can execute peer-to-peer transactions and serve as a platform for deploying smart contracts.
XTZ is the native cryptocurrency of Tezos. It is an open-source smart contract platform used to issue new digital assets.
In formula one, Tezos was picked by Mclaren for a multi-year technical partnership across F1, IndyCar and esports.
With this deal, Tezos is the Official Blockchain Partner for McLaren.
For McLaren, they intend to utilize this partnership to create non-fungible tokens (NFT) fan experience.
This is a growing cryptocurrency exchange, with over 2 million users so far. It is expected more customers will join the exchange.
Bybit has a wide range of advanced trading tools. These would help you to buy, sell or trade in cryptos.
In formula one, Bybit has a deal with Red Bull racing team. Bybit is going to work with Red Bull racing to launch fan tokens.
The deal with Red Bull is a multi-year partnership. It is estimated to be worth over $150 million.
Sponsorship fee would consist of cash and BIT, the native token of the exchange.
Velas is an ecosystem of decentralized products that allow you to benefits from blockchain technology.
It is based in Switzerland.
When it comes to formula 1, Velas has entered into multi-year partnership with Ferrari.
This is the first partnership of its kind for Ferrari, with many shared initiatives planned to benefit from Ferrari’s prominence in global motorsport and a uniquely engaged fanbase.
As a result, fans will benefit from Velas technology, opening up a whole new dimension for both the sport and the brand.
When it comes to formula 1 racing, Socios is working with Aston Martin and Alfa Romeo.
The idea is to create fan tokens for the two F1 teams.
You should note that the fan tokens were launched on its platform Socios.com
Chiliz, is the world’s first cryptocurrency exchange for sports. It allows speculation and trading of fan tokens.
The fan token of Aston Martin and Alfa Romeo will be distributed to fans who pre-bought through Socios.com
This is another crypto trading platforms in formula one.
It is a highly scalable blockchain platform for DeFi, Crypto dApps, and enterprise applications.
Fantom entry into formula 1 includes working with Alpha Tauri’s driver Pierre Gasly to drop exclusive NFTs.
Today, Fantom is the global sponsor for Scuderia Alpha Tauri in the 2022 formula 1 season.
As part of the deal, the Fantom logo will appear on the Nose and Halo of the AT03.
It will also appear on the Helmet and Cap of both Alpha Tauri drivers.
Another top crypto exchange in formula 1 is Bitci.com
Bitci operates a crypto exchange and a mining facility. It also provides fan token in partnership with sports brands.
In formula one, Bitci partnered with McLaren F1 team back in 2021. However, the deal has since been terminated.
When the exchanges entered into a deal with McLaren, it was expected that they would provide fan tokens.
Could that be the reason why the deal was terminated?
Cryptocurrency Sponsorship in Formula One
The entry of cryptocurrencies into the sponsorship ecosystem of formula 1 has elicited mixed reactions.
Some people are happy about it. Others have raised questions of or about alignment.
The question is whether cryptocurrencies align with F1’s agenda of sustainability and energy use.
It is a question that was asked to team principals during pre-season testing in Barcelona this year.
However, I do not think there is anything wrong with crypto trading platforms or exchanges sponsoring formula one sport.
In conclusion, formula 1 community is presented with opportunities that come with cryptocurrencies.
It is important to take time and understand how these cryto trading or exchanges work.
You can leverage these marketplaces to buy and sell your cryptocurrencies such as Bitcoin or Ether.
Relationship between crypto exchanges and F1 teams provide with you a chance to get formula one-based NFTs.
If you think about it, the concept of decentralized finance and blockchain is going to be here with us for a long time.
Most contracts and business deals will be based on blockchain a few years.
It is a smart moves to learn and understand how you can trade in crypto.
Your first step is getting into one of the above crypto trading platforms and learning how your prefered choice works.
As a formula 1 fan, I do hope you have found value in this resource.