Best Cryptocurrency Exchanges
The cryptocurrency market can be intimidating for anyone, especially for us as women. If you are a woman interested in cryptocurrency, you have come to the right place to find the best crypto exchange. The thing is, there is tremendous opportunity for females in the crypto space to increase our financial independence by getting involved in the crypto market and digital currencies. Crypto trading is a great opportunity for everyone, especially women.
The finance and tech space is traditionally dominated by men. Twice as many men as women are cryptocurrency investors according to CNBC's Invest in You: Next Gen Investor Survey. Systemic barriers like the income gender gap already set us up for having to work harder to get into the cryptocurrency market, since we have less capital to invest with.
Make your money work for you with cryptocurrency and finding the best cryptocurrency exchange for you. By taking charge of our education, and learning about finance, investments, bitcoin and blockchain technology, we can level the playing field and increase our wealth and power.
We need more women and female entrepreneurs in bitcoin, blockchain technology and crypto. A more diverse group in this space can only make it stronger. Cryptocurrency for women can only grow by us getting more involved.
Cryptocurrency can help you, whether you are a single mother, married woman, or one of many other women who just want to learn about cryptocurrency and see what it can do for you.
Women in developing countries may be able to open cryptocurrency accounts, even if they have not been successful in opening bank accounts. Cryptocurrency's international reach can help those who may not have access to traditional banking be able to control their assets.
Diversifying your investments with the cryptocurrency space can add value to an existing portfolio including mutual funds, New York Stock Exchange and NASDAQ securities and other investments. If this is your first account on a crypto exchange, or anywhere you are opening, congratulations on taking the first step getting started. Let's find the best crypto exchange for you.
What is Cryptocurrency?
First of all, what is cryptocurrency, anyway? Do not be embarrassed if you don't know.
Cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography and blockchain technology to secure the transactions and to control the creation of new units. Bitcoin, Ethereum, and Litecoin are some examples of cryptocurrency.
Crypto is different from banking with traditional institutions because cryptocurrency is decentralized; meaning it's not subject to government or financial institution control.
In 2009, when Bitcoin was created, the cryptocurrency could only be bought with fiat currency (U.S. dollars), but now you can buy different types of crypto with other cryptocurrencies as well.
You can also use cryptocurrency to purchase goods and services.
What is a Cryptocurrency Exchange?A cryptocurrency exchange is an online platform that allows you to buy, sell, or trade cryptocurrencies for other digital assets or traditional currency. Exchanges can be centralized (controlled by one entity) or decentralized (peer-to-peer ).
Centralized exchanges are more common and offer a wider range of services, while decentralized exchanges are growing in popularity due to their security and privacy features.
When you sign up for an account on a cryptocurrency exchange, you will need to provide your name, email address, and password. You may also need to provide proof of identification and residency.
You will also be asked to choose a cryptocurrency wallet in which to store your digital assets. A cryptocurrency wallet is like a bank account where you can store, send, and receive cryptocurrencies. There are many different types of wallets, so it's important to do your research before choosing one.
What are the Fees?Most exchanges have a variety of fees, including crypto exchange fees.
So How Do We Get Started?Cryptocurrency is a form of virtual currency. You can send crypto assets as a form of payment, and you can hold onto it as an investment vehicle and grow your wealth.
If you're interested in cryptocurrency, the first step is to find a cryptocurrency exchange that works for you. Different exchanges have different features, fees, pros, and cons.
It can be complicated to get started with cryptocurrency, and often it is best to start small and increase your cryptocurrency investments as you become more familiar with the cryptocurrency space.
Best Cryptocurrency Exchanges For WomenIn this blog post, we'll list the best platforms and discuss what their fees are, as well as their pros and cons. We'll also give you a little bit of information about each platform so that you can decide which one is right for you.
The Best Cryptocurrency Exchanges
Here are are the best cryptocurrency platforms for women:
Coinbase is one of the most popular platforms out there and it's no surprise why. It has a user-friendly interface, low fees, and allows you to buy and sell cryptocurrencies. It's based in San Francisco and is backed by trusted investors. Coinbase is easy to use and has a simple, intuitive app.
Transaction fees can be high: As Coinbase explains on its website, "When you place an order at the market price that gets filled immediately, you are considered a taker and will pay a fee between 0.04% and 0.50%. When you place an order which is not immediately matched by an existing order, that order is placed on the order book. If another customer places an order that matches yours, you are considered the maker and will pay a fee between 0.00% and 0.50%."
Check out Coinbase's pricing tier chart here:
So, if you're just starting out and are in the $0-10K range, you are going to pay .50%.
Like many of the cryptocurrency trading platforms, customer service can be shoddy. There is not usually a direct number where you can get someone on the phone, and email and chat responses are not quick. There is no physical building like a brokerage may have, where you can walk in and speak with an advisor.
Coinbase isn't available in every country, so be sure to check if your country is supported first!
Gemini is a cryptocurrency exchange founded by the Winklevoss twins, who are also well-known for suing Mark Zuckerberg over the creation of Facebook. Gemini is based in New York and is regulated by the New York State Department of Financial Services.
Gemini is one of the most popular exchanges out there and allows you to buy and sell Bitcoin, Ethereum, Litecoin, Bitcoin Cash and other coins. Gemini has low transaction fees and is a great platform for those who are just starting out in cryptocurrency.
Props to Gemini for encouraging women to get involved in cryptocurrency by producing informational webinars like Women and Crypto: The New Frontier on its website, Gemini.com.
Gemini supports 50+ cryptocurrencies. However, customer service can be slow to respond via chat. There is no building you can walk into and discuss your crypto account, just like most platforms.
Kraken has been around since 2011 and it's one of the largest Bitcoin exchanges in Europe. Kraken allows users to buy and sell cryptocurrencies, as well as trade them with margin. The platform offers a wide variety of currencies on offer at competitive rates, but does not support fiat deposits yet, so keep this in mind if you're looking to use it.
Kraken is also available on mobile.
Binance is a relatively new platform that has been gaining a lot of traction lately. It was ranked as the world's largest cryptocurrency exchange. It's one of the cheapest exchanges to use and offers a wide range of coins.
Binance also has its own token, BNB, which can be used to get discounts on trading fees. However, Binance is not available in every country, so be sure to check if it's supported in your area.
Robinhood Crypto is a user-friendly cryptocurrency platform. Robinhood is a crypto broker, but you can't withdraw cryptocurrency funds from this account. Instead, you have to sell your coins and transfer the balance to an external account.
This is different than a platform like Coinbase, which offers currencies and payment methods. You can also withdraw funds to a variety of account types.
Crypto.com is a cryptocurrency exchange that offers support for more than 130 cryptocurrencies. The platform allows users to buy and sell cryptocurrency, as well as trade with margin. Crypto.com is a good exchange because it has fair cryptocurrency trading fees and high cryptocurrency trading limits. The withdrawal limit is $50,000 per month.
FTX US Cryptocurrency exchange is a cryptocurrency trading platform that offers support for more than 100 cryptocurrencies. It's also known to offer cryptocurrency derivatives and margin trading, with the option of shorting cryptocurrency prices. We are not going to get into that when you start, but it's good to know options are available as you advance with your cryptocurrency trading.
Some positives about FTX US are that it has relatively low fees. In fact, FTX US has some of the lowest fees of FundsSavvy.com's reviewed platforms. You want to keep your money yours, not give it away to platforms that are already generating profit. FTX US also pays crypto withdrawal fees charged by blockchain networks other than Ethereum.
FTX US touts itself as "by traders for traders," and includes features like margin trading and derivatives such as futures. Again, not things you will likely get into at the beginning of your cryptocurrency journey, however, good to know these options are available as you move along.
Per usual in the cryptocurrency platform space, customer service is not stellar. There is no live phone support.
FTX US currently only offers 24 digital assets. That is a lot fewer than its competitors.
We look forward to hearing from you as you start your journey as cryptocurrency investors. Remember, twice as many men as women are invested in crypto, but we hope that changes very soon.