Cryptocurrency Platforms Thread

[Cupid Stunt]

I'm starting this thread because they are always so many questions on new cyptocurrency platforms and newbies like me are confused.

Can the experts here share which platforms are recommended here? What are the pros and cons of each platform? We are all looking at low cost, low conversion fees and ease of fiat transfers of course.

 

[cassowary18]

Personally I'm using Gemini, although I only buy BTC and ETH.

Pros:
1. Free deposit of SGD via Xfers.
2. Limited free withdrawals of crypto.
3. Quite low fees if you choose Gemini Active Trader.

Cons:
1. Only have BTCSGD and ETHSGD as SGD pairs.

 

[Cupid Stunt]

What are the fees for Gemini active trader?

I'm personally looking at FTX, seems to be the lowest fees

 

[Value.Matrix]

What are the fees for Gemini active trader?

I'm personally looking at FTX, seems to be the lowest fees

FTX is new, but seems cheap.

I use crypto.com instead because of the staking and lower fees IF you stake.

Gemini is ok.

Holdnut seems to be High spread even though lower fees.

For all, Xfers is a good way to transfer fiat to buy crypto

 

[kovechnob]

I used to have Binance and Huobi (global version, not the Singapore one) as my main ones, but have been shifting out to other exchanges. For Binance, I'm still using it for staking those that has the best APY.

Currently I'm using quite a number of exchanges, but will just highlight my fav 2:

1) FTX
Comes with FTX Pro (exchange) and FTX (previously Blockfolio) (both different platform)

FTX Pro:
Very low trading fees: 0.02% maker / 0.07% taker (assuming lowest tier)
Easy fiat on/off ramps: supports USD/SGD bank deposits and withdrawals (I like their OTC to convert between USD and SGD, quite good rates and easy to use). Can deposit some stablecoins like USDC, BUSD, GUSD to USD in FTX, and can transfer USD as stablecoins (excluding USDT)
Limited number of crypto that can stake, but can earn through their margin lending (variable APY)

FTX Blockfolio:
Easy to use but I didnt bother to trade directly on it (there's free coin per trade above $10 though), used it to earn 8% APY for first $10k fiat/crypto

2) Crypto.com
Comes with the App and Exchange (both different platform)

Crypto.com App:
No trading fees but poor spread (and note that theres credit card fees too)
Easy fiat on/off ramps: supports SGD through Xfers, USD deposits will become USDC 1 to 1. Withdrawal through SGD or USD bank transfer.
Can transfer internally to your Crypto.com Exchange wallet without any fees almost immediately (vice versa)
Earn crypto (some of them quite decent APY, especially stablecoins like USDC), stake CRO for VISA debit card with perks
Supercharger event with CRO to earn other coins

Crypto.com Exchange:
Trading fees: 0.4% maker/taker (assuming lowest tier no discount)
Directly linked to Crypto.com App (free transfer almost immediately)
Soft staking available for some crypto (earn as long as its in wallet), with other features such as Syndicate which I didnt really use

Coins available for both exchanges also differs, but generally most of the higher cap ones should be there

 

[Cupid Stunt]

Is there any special requirements to get pro or active trader?

I'm mainly a buy and hold guy, so not too my activity on my side.

 

[cassowary18]

Is there any special requirements to get pro or active trader?

I'm mainly a buy and hold guy, so not too my activity on my side.

Lower fees. ActiveTrader is only 0.35%. If you use the regular UI it's 1.49%.

 

[Leaden]

A quick and short list of Crypto Exchanges for sinkies

Centralised Exchanges
https://coinmarketcap.com/rankings/exchanges/
MAS Licensed
- Independent Reserve - https://www.independentreserve.com/sg - serves retail, AI and institutions
- DBS Vickers - serves AI and institutions
- Fomo Pay - serves businesses to setup crypto payments
- TripleA - serves businesses to setup crypto payments
- Coinhako - https://www.coinhako.com/ - serves retail, AI and institutions
- Revolut

MAS In-principle Approval
- Paxos
- Hodlnaut - https://www.hodlnaut.com/
- Digital Treasures Center
- Luno
- Crypto.com (Foris Dax)
- Genesis Global Trading
- Sparrow Tech

MAS Temporary Exemption
- Coinbase.com, Gemini.com, etc
https://www.mas.gov.sg/regulation/payments/entities-that-have-notified-mas-pursuant-to-the-ps-esp-r

No Longer Exempted
https://www.mas.gov.sg/regulation/p...are-no-longer-exempt-pursuant-to-the-ps-esp-r

MAS Investor Alert List
- Binance.com

Decentralised Exchanges
https://coinmarketcap.com/rankings/exchanges/dex/

 

[dappermen]

Binance got quieter

 

[chiokcc]

Thanks TS for starting this thread. Looking forward to learn more about crypto ....

 

[zzTiny]

完了完了, 全部都完蛋了 ***** si liao

 

[Cupid Stunt]

Is there any way to transfer BUSD from Binance to FTX, as well as transfer $ from IBKR to FTX?

 

[decibel.]

Can try Liquid Exchange. Now can use Singpass to open account. They are regulated in Japan so should be fine and since already link to Singpass don't think will kena fury from MAS. Can PM me if you need referral code, you can get 10% discount from fee for a month.

 

[dappermen]

r your age range late30s to 40yo++?
Apart from investing in property, some of the other top investment products over the last six months include stocks (52%), cryptocurrency (47%) and bonds (31%).
Different demographics also display varying preferences - older Singaporeans aged 45 and above (61%) preferred to invest in stocks, compared to just 48% of those aged between 25 to 44.
Conversely, younger Singaporeans (51%) are more willing to invest in cryptocurrency than those aged 45 and above (36%).
https://www.theedgesingapore.com/is...ment-possible-50-singaporeans-are-planning-it
Do u Dca into cryptos or 1-lump?
The majority (71%) of respondents save 30% of their monthly income, which is above the typical 50:30:20 budgeting rule. As for expenditure, more than half (59%) spend up to 30% of their income on essentials such as paying their monthly loans and rent, while 47% of parents spend a significant portion (more than 20%) on their children.

“As Singapore consumers move to more sophisticated ways of growing wealth, we too are taking steps to expand our tools and resources to reflect these needs. With our customer’s growing interests in areas such as robo investing, priority banking and cryptocurrency, providing them with these resources can empower them to make better decisions in their pursuit of financial independence,” adds Hutchinson.

Just for info,

 

[sansanjikikut]

Anyone know which exchanges support SingPass my info verification besides Gemini? Will only trust those for now. FTX one must send selfie of you holding IC and written time stamp. Not comfortable with that at all. Plus the apps are confusing.

hope the Gemini activetrader can be on app platform one day. More user friendly

 

[Mecisteus]

FTX, Crypto.com, Kraken and Gemini are my top picks.

All have their unique strengths and weaknesses.

 

[dappermen]

Crypto.com the first to: get the mark
https://bt.sg/ohoE

 

[hellhole]

FTX is new, but seems cheap.

I use crypto.com instead because of the staking and lower fees IF you stake.

Gemini is ok.

Holdnut seems to be High spread even though lower fees.

For all, Xfers is a good way to transfer fiat to buy crypto

i was going to try cryto.com.. then it ask me for picture and ic and all.. i a little.. :-|

 

[Mystyque]

i was going to try cryto.com.. then it ask me for picture and ic and all.. i a little.. :-|

Unfortunately, this KYC ( Know Your Customer) procedure is unavoidable nowadays due to anti money laundering and other requirements. On some platforms you might be able to avoid this but I believe they place limitations on the amount you can move around and/or they are less established and might be banned from SG eventually.

 

[sansanjikikut]

anyone use coinhako compared to Gemini? Now that Binance sg no more