Best way to trade Crypto in SG (New here!)

Have seen many discussions on best means to trade crypto in SG.

Looks like one means to buy in is via Gemini & Binance:

Gemini to buy BTC
Move BTC into Binance to trade to USDT or trading pair for other crypto currency (zero withdrawal within 10 transactions from Gemini)

However, what's the best way to cash out in future?
Do we then transfer from Binance back to Gemini to cash out in future, but what is the transfer fees?

Any best 101 document for SG folks?

Gemini Crypto Exchange

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Maximilian Günther

13 May 2021

The 2 methods you specified in your post are indeed correct; currently they are the cheapest and fastest methods to trade Crypto in SG.

To answer your question of cashing out, this requires a few hoops to jump through to avoid paying horrendous fees for transferring on the Ethereum network ($USD30~ish).

For altcoins, I will sell them for XLM on Binance, then transfer my XLM to the NEXO exchange, (Nexo is basically a crypto savings account, pretty amazing rates, do check it out) then convert my XLM to Ethereum/Bitcoin using the inbuilt swap features on NEXO for no fees. (I use XLM because the fees for transferring it out of Binance is dirt cheap, 30cents max.)

After I receive ETH in my Nexo account, I will make use of the 5 free withdrawals a month from Nexo and withdraw ETH to my Gemini account for free. Then I will sell the ETH for SGD and withdraw SGD into my bank account.

Complicated, I know. But that saves me easily $30-40USD in fees whenever I want to cash out profits.

Cheers!

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