Crypto Exchanges Explained
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The following is an edited version of the video transcript…
Hello, it’s Jodie here! In this post I’m going to give you a sneak peek inside of The Plan members area. This is where the course is actually delivered. The reason we’re doing this is to talk about setting up exchanges. It doesn’t matter when you’re planning on joining The Plan, or if you’re already in The Plan, this is probably the heaviest lifting part of the whole entire experience.
Anything to do with crypto is going to involve having exchange setups and you do need to go through some of the processes because these exchanges are in the centralized space. You will need to get your KYC, which is the Know Your Customer verifications submitted and approved. So getting started on this sooner rather than later is a really good idea.
We can talk in future posts about how to actually start making your crypto purchases, but right now it’s just about getting your accounts set up. In The Plan member’s area, they literally talk about how to pick your exchanges to start with. And the big question is where do you live?
For US residents and non-US residents, they’ve selected a handful of exchanges that just make it easier. The US residents have definitely got their hands tied a little bit more than other parts of the world. I’m sure my friends in Canada would be saying, “Hey, we’ve got our hands tied too”, but every country of the world has got some kind of restriction. We’re all kind of in the same boat, but I really do feel for my US friends because they’ve got things a little bit tougher than others.
The Plan suggests setting up a Kracken account, but in order to be able to trade on Bitsgap, which is putting the automated grid box on, you do have to go through an expedited verification process. I can’t show you that in here as it is unique to members of The Plan.
The other account they recommend as an exchange is Kucoin. In going through the Kucoin setup, you will not actually be doing a KYC if you’re in the US, just a little tip there. Setting up a Coinbase account is next, which is not the best exchange for doing trades with, unless you’re planning on having lots of bots because their fees are five times what Kucoin is.
They’ve also suggested here Binance.us, which is different to Binance global. Again, in the US, you will not have the same amount of coin pairs we get having a Binance global account.The last suggestion on the US side of things is Gemini.
For those who are non US residents, the suggestions start the same with Kraken because it doesn’t matter where you are. You still can get your Kraken pro verification expedited, but the Binance account, Binance global is going to be your best be for doing any trades with the automated grid bots with Bitsgap.
With Kucoin, you will actually do KYC as a non-US resident. I don’t recommend Coinbase at all. If you’re outside of the US, you just don’t need it. And you probably don’t need Gemini either. There is a special one listed for Canadians to look at setting up a Newton account, which just helps them get their crypto onboarded.
Again, the purpose of sharing this video with you is not to say how to do your actual crypto onboarding. It’s to let you know that these are the exchanges The Plan recommends, but there are also a lot of other exchanges that are available within Bitsgap to be able to run these trading bots.
In my case, I’ve got Binance global, FTX global (FTX US is due to come to Bitsgap so hold tight on that if you’re in the US), I have hooked up Gemini, but I don’t use it. Huobi I’m not using, Kraken I’m not really using. But I am using Kucoin, Binance and FTX. I’ve also got OKX.
You do get quite a lot of selection of what other exchanges to connect, but these are the exchanges that work with Bitsgap. You would need to check on your location to see which ones work best for you, depending on what country you are in.
As I said, The Plan makes recommendations for a good three or four per location, being US based or non-US based. So please follow the links that are provided to you under this post, because they are referral links and in most cases they will help get you a discount, either on your trading fees or some kind of bonus.
Referral links are very different to affiliate links. So these are not affiliate links that I’m sharing with you. I remember when my cousin first gave me the FTX link, it instantly took 5% off my trading fees just by me using his referral link. Referral links are win-win for both parties. So yes, I do get a win out of it as well, but the main thing is that you do. So this is not about having an affiliate sign up where I make some money and you get nothing out of it. This is purely win-win.
This is for exchanges and wallets and all other crypto matters. Whenever you are going to join up to anything, just ask a friend or check in with Nat and I, and see if we’ve got any referral links to any of these wallets, platforms, exchanges, crypto banks, they’ve all got different titles, but we’ll go through all of those and explain them to you. For now though, start having a look at the exchanges that are mentioned and see which ones you can get an account with.
Here is our list of The Plan reccommded exchanges to get you started.
TOP BOT SOFTWARE & EXCHANGES WE USE & RECOMMEND FOR THE PLAN
BITSGAP – 7 day FREE trial – https://insidetheplan.com/bitsgap
Cointracking Software for crypto taxes – https://insidetheplan.com/ct25
NEXO – https://insidetheplan.com/nexo
CELSIUS – https://secretcryptoplan.com/celcius
CRYPTO . COM – https://insidetheplan.com/cro
KUCOIN – https://insidetheplan.com/bitsgap
BINANCE – https://secretcryptoplan.com/binance – Free trades using BUSD on the bots
KRAKEN – https://secretcryptoplan.com/kraken
GEMINI – https://secretcryptoplan.com/gemini
FTX – https://secretcryptoplan.com/ftx – Our fav exchange – Get 5% trade discount
About Nat n Jodie
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In 2012, we lost everything in a business startup in Dubai. Instead of going home to Australia, we started our full-time traveling lifestyle as international house sitters… with just $300USD to our name!
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