[Official] Crypto Currency Chit Chat Group - Part 6

lordofthering

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Thanks! When using p2p, must the person on the other end be online at the same time as you for the trade to workout? I saw in youtube video, theres this 15 minute period thing.

How to know if the person on the other end is online? How does it work? New to this mode.
sorry i didn't use this before. Maybe someone can advise
 

lordofthering

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it been months since Musk mention the word DOGE in his tweet (not retweet/reply)

Maybe he understand the anger on the ground
 

limpehfuneral

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Woah nice. I thought regulatory limitation.

Damn Gemini cannot earn their GUSD.
Yes is kinda sian but here's what I do

1, Buy ETH using ETHSGD
2. Sell ETH using ETHUSD
3. Buy GUSD with the USD
4. Send over to Celsius to earn the sweet 8% APY

GUSD withdrawals are free and not counted towards the 10 free Gemini withdrawals
 

limpehfuneral

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Yes is kinda sian but here's what I do

1, Buy ETH using ETHSGD
2. Sell ETH using ETHUSD
3. Buy GUSD with the USD
4. Send over to Celsius to earn the sweet 8% APY

GUSD withdrawals are free and not counted towards the 10 free Gemini withdrawals
Probably will lose a bit of money due to
1. USDSGD exchange rate a.k.a forex
2. crypto buying & selling fee 0.35% fee x 2 which = 0.70% (use activetrader)

but these fees will be covered back as long as you hold your GUSD in Celsius for at least 2 months

If you buy when USDSGD 1.32, good for you
Personally don't suggest buying when USDSGD 1.37 and above but
a key idea to note is USDSGD always trading around 1.31 to 1.44
(you can go check the chart for USDSGD and determine yourself)
 

lordofthering

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Yes is kinda sian but here's what I do

1, Buy ETH using ETHSGD
2. Sell ETH using ETHUSD
3. Buy GUSD with the USD
4. Send over to Celsius to earn the sweet 8% APY

GUSD withdrawals are free and not counted towards the 10 free Gemini withdrawals
this is super inefficient

why would you even want to do something like that
 

MikeDirnt78

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Yes is kinda sian but here's what I do

1, Buy ETH using ETHSGD
2. Sell ETH using ETHUSD
3. Buy GUSD with the USD
4. Send over to Celsius to earn the sweet 8% APY

GUSD withdrawals are free and not counted towards the 10 free Gemini withdrawals

Probably will lose a bit of money due to
1. USDSGD exchange rate a.k.a forex
2. crypto buying & selling fee 0.35% fee x 2 which = 0.70% (use activetrader)

but these fees will be covered back as long as you hold your GUSD in Celsius for at least 2 months

If you buy when USDSGD 1.32, good for you
Personally don't suggest buying when USDSGD 1.37 and above but
a key idea to note is USDSGD always trading around 1.31 to 1.44
(you can go check the chart for USDSGD and determine yourself)
I think you lose more than 2%.

If you are not a FX trader, you shouldn't be betting on the USDSGD. I change whenever I need USD.

For example, USDSGD may be at a high but cryptos are at on sale. You need USD to buy cryptos. You can't afford to wait for USDSGD to go down to get USD. Alternatively, keep spare stable coins.

For small amounts, just convert in DBS and remit USD into Gemini.

Add CEL tokens to earn 11+% interests with stable coins. At Nexo, can earn 12% interests with NEXO token.

For big amounts, use FTX or Interactive Brokers to get USD.
 

LaMeRzUnItEd

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Binance US still haven't secured a US bank partner ah? Its friggin convulated to transfer stablecoins into their exchange.
 

limpehfuneral

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I think you lose more than 2%.

If you are not a FX trader, you shouldn't be betting on the USDSGD. I change whenever I need USD.

For example, USDSGD may be at a high but cryptos are at on sale. You need USD to buy cryptos. You can't afford to wait for USDSGD to go down to get USD. Alternatively, keep spare stable coins.

For small amounts, just convert in DBS and remit USD into Gemini.

Add CEL tokens to earn 11+% interests with stable coins. At Nexo, can earn 12% interests with NEXO token.

For big amounts, use FTX or Interactive Brokers to get USD.
thanks for advice
how long it takes for USD to reach Gemini?
 

limpehfuneral

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I think you lose more than 2%.

If you are not a FX trader, you shouldn't be betting on the USDSGD. I change whenever I need USD.

For example, USDSGD may be at a high but cryptos are at on sale. You need USD to buy cryptos. You can't afford to wait for USDSGD to go down to get USD. Alternatively, keep spare stable coins.

For small amounts, just convert in DBS and remit USD into Gemini.

Add CEL tokens to earn 11+% interests with stable coins. At Nexo, can earn 12% interests with NEXO token.

For big amounts, use FTX or Interactive Brokers to get USD.

any idea why moi stablecoin earn in CEL still 8%?
ss below

CjW2zu5.png
 

info_guy

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Luckily no such issue in Indonesia yet.

I just do local bank transfer to Toko crypto (local sub of binance) and then I can start trading.

Easy to buy in
Trx fee as cheap as binance
Easy to cash out
 
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