Asked on 19 Dec 2019
Anyone has experience in trading Cryptocurrency? If yes, which platforms do you use and why?
Yes i do and i have done it a long time ago. and when you mention about trading platform, you mean fiat/cash - crypto or crypto - crypto?
mtgox(no more) - that time almost all bitcoin is bought and sold through this platform so this dominates all. it got hacked and my funds still stuck in there.
coinbase - despite the high fee and huge spread and poor fx rates, it is one of the more simple and first bitcoin trading platform
fybsg(no more) - as i want to cash out locally, fybsg is one of the first few local bitcoin trading platform. the spread is quite huge but at least it takes a day or less to get $ in and buy btc.
i later move on to coinhako for local as it support more coins beside btc. the spread is bad also. And if i have the patient, i would use gemini which is the best as now we can transfer sgd to usd with good rates and feeless, the spread of gemini is minial so it is the best choice but sometime it can take up to 1-2 weeks to credit and that is a huge issue in crypto.
recently binance also launch binance sg where you can use xfer to instantly deposit and buy crypto. the price is not bad and the withdrawal fee is low. best option for now beside gemini.
if we talk about crypto to crypto, i used a lot of platform, mainly due to the coins it support. So the popular ones are binance, kucoin, huobi, hitbtc etc. in fact, you can go to coinmarketcap to look at the popular trading platforms. some of these platform like kucoin even gives interest for having coins in their platform.
Some exchanges that you can use fairly easily in Singapore are:
Binance Singapore: https://www.binance.sg/en
Also, I would recommend storing your coins outside of exchanges using a hardware wallet like a Ledger Nano S: https://shop.ledger.com/products/ledger-nano-s