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The potential future of money?

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Understanding Bitcoin Cycles and Price Predictions

Though volatile, analyzing Bitcoin's price history actually paints the picture of a very predictable and cyclical asset.

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Which exchange to use for buying mainly BTC and ETH?Any comparison with Kraken Vs Binance SG and CoinHako?
Max Soo

Max Soo

Level 6. Master

Answered 10h ago

The best of the lot is definitely Binance SG. The largest one out there while also the cheapest and having the best spot rate. Can't go wrong with them.

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What is the verification process/KYC for Binance SG?
Hi Anon, The KYC process for Binance SG is done via Xfers. The mode of payment is also via Xfers, there is no option for a direct bank transfer.

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Which is better Coinhako vs Crypto,com vs Binance? Looking for BTC exchange for buy and hold strategy?
Hi HY, Coinhako has a comission of 1%, while Binance has a comission of 0.6% and a better spread. Fees wise, I would recommend Binance. Take note that Binance has two entities, the global version and the Singapore-based version. The Singapore-based one will have a limit of 30k due to MAS regulation. Security wise, Binance global has had a security incident sometime last year but the Singapore subsidary was not affected. Coinhako had a smaller incident earlier this year during Feb, where roughly 20 users were affected. User interface wise, Coinhako is better. They have a mobile app whereas Binance Singapore does not (Binance Global does), and the overall UX is better and easier to navigate. Another benefit of Coinhako is that you can do a direct bank transfer for your fiat currencies, but for Binance Singapore you will have to go through Xfers. For Crypto,com, they have temporarily halted creation of new accounts from Singapore, and I'm not sure of the reason why. When I enquired, the support team said they are working to resolve it. I would recommend getting your coins off the exchange so that you have control over the private keys. If your amount is large (I would say 10k), I think you should opt for an cold (offline) wallet instead due to security reasons.

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Are there any cryptocurrency investment brokerage to recommend?
I think it would depend on what you are using it for. If you are a regular trading you should use binance its a great UI and UX experience. But for fiat on ramps, you can check out Tokenize Xchange!

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Anyone has a referral code for Coinhako, the crypto exchange? Thank you!?
Been using Coinhako for a while now, would recommend it for its swift/ez onboarding, ease of funding (easily via bank transfer, or Xfers), and somewhat low fees at 0.8% (using a promo code COINGECKO ). https://www.coinhako.com/affiliations/signup/16225147844497

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Do you think cryptocurrency investors could lose all their money?
A few things to note: 1) Bitcoin and most cryptos are decentralised. It means you cannot shut it down, short of shutting the entire internet. Much like torrent(which by way is still actively running) which can't be shutdown. 2) Bitcoin can be traded in an exchange or OTC e.g. just meet someone to exchange your keys or go to classifieds etc. So banning will have limited effect although it will for sure crash the market. 3) Controlling 51% of all BTC nodes/hashrates. Also known as the 51% attack. Hypothetically possible but in reality an almost impossible task now due to the pervasiveness of Bitcoin. Even if this happens it doesn't mean every coin will be lost just that available coins can be double spend. 4) Bitcoin protocol is substantially changed, just like the 51% protocol it is a hypothetical scenario but an extremely remote possibility. Even if it happens, a new fork will be created and your coins will transfer to that new fork like how other Bitocin forks have happened over the years. In short, like in all investments nothing is guaranteed and you can lose all your money.

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How to cash out my Bitcoin investments on Binance?
Upvote for Arif's response! Binance SG is recommend to sell. But if your Bitcoin is on Binance instead of Binance SG, then you would need to send the Bitcoin between the two exchanges first. You may soft-refer to my guide on this (this guide is actually a guide for withdrawing from Binance SG to Binance!) What you need is the opposite, but the steps might still help https://www.everythingaboutbitcoin.com/post/a-guide-to-withdrawing-your-crypto-from-binance-sg

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How do I withdraw my crypto from coinbase?
Hey Anonymous, There are actually quite a number of ways you can still do a withdrawal. You're right that Coinbase cannot process sell orders and withdrawals in Singapore at the moment. What you should do now is to send your crypto from Coinbase to another platform where you can sell back into SGD, such as Binance SG or Coinhako. To do that, you need to have an account at the destination exchange, get your deposit address, and then go to Coinbase and send your crypto out from Coinbase wallet to the destination deposit wallet address. You just needs to ensure you click "deposit" for the same crypto that you are trying to send, and copy and paste the wallet address instead of typing it. If you do these steps carefully, it should be a quick and easy process. Good luck!

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Is it a good time to buy XRP as XRP loses support as the SEC files the case against Ripple?
There are arguements to say that although the lawsuit is targeted to Ripple the company, XRP as a token and blockchain application remains unaffected. Who knows what powers the regulators have. It is hence risky. If you go in not appreciating the uncertainties, then you will falter when price fluctuates. If you dont invest, you may feel fomo. What is the middle path? Maybe just refrain yourself for having one bubble tea, one starbucks and one restauraunt meal per month and use the amount to enter into XRP, ETH AND BTC respectively. Amounts which you can afford to lose essentially - and then go to bed and check in again in 5, 10 years time.

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