Wondering where can I find a reliable place to buy and trade Crypto? - Seedly
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Cryptocurrency

Loh Zoven

Asked on 03 Aug 2020

Wondering where can I find a reliable place to buy and trade Crypto?

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Michael
Michael
Level 5. Genius
Answered on 18 Aug 2020

Binance, Bittrex are good trading platforms. But before you can use them, you need to use a wallet like coinhako to purchase Bitcoin (BTC) and transfer them to the trading platforms. When you're done with your trades, you can trade your BTC from your trading platforms back into your wallet and withdraw them directly into your bank account.

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Travis Teo
Travis Teo
Level 3. Wonderkid
Answered on 18 Aug 2020

If you are referring to fiat to crypto trading you can look at Binance SG (0.6% fees), if you are looking to trade crypto to crypto pairings you can buy on binance SG then trf to a binance account

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Sharon

1w ago

Hi Travis, I'm new to cryptocurrency. I've opened an account with Xfers, SG Binance and the main Binance. I'd like to buy BTC as well alt coins and I understand that I can only do so via Binance. Appreciate if you could help clarify if the process to buying these coins is correct: 1) Buy BTC with fiat via SG Binance (link Xfers with SG Binance). 2) Transfer BTC to Binance to buy other crypto coins. 3) Sell crypto coins back to BTC (to get the proceeds, if any :)) via Binance. 4) Transfer BTC to SG Binance. 5) Withdraw the proceeds on SG Binance through Xfers. Did I miss anything? Thanks in advance.
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Raymond
Raymond, Writer at GEEK.SG
Level 3. Wonderkid
Answered 4w ago

There is actually no one-size-fits-all exchange for us. Generally speaking there are two main types of exchanges, one that has fiat pairing (ie, takes in SGD) and one that doesnt.

The general practice is to convert your SGD to either BTC or ETH via one of the fiat exchanges first, and then you may use another exchange to convert them to the cryptocurrencies of your liking.

I've done a breakdown of some of the best cryptocurrency exchange that has fiat pairing at https://geek.sg/blog/complete-guide-to-buying-bitcoin-ethereum-or-other-cryptocurrencies-in-singapore. The best exchange depends on the amount you are looking at trading, your proficiency level with complex UX, trading fees, etc.

For non-fiat exchanges, I'm currently using Poloniex and Liquid for access to most pairs. If they are not there, I usually can find them on Changelly. Finally, if they are not there, Uniswap will definitely have it (but gas fees on Ethereum are kind of crazy high now). ​​​

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Aaron
Aaron
Level 3. Wonderkid
Answered on 18 Aug 2020

Crypto.com and Coinbase

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Han Jinyuan Larry
Han Jinyuan Larry, Pool Supervisor at Certis
Level 4. Prodigy
Answered on 18 Aug 2020

1 bitcoin is about SGD15,000/- How about considering all available option before investing?

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Travis Teo
Travis Teo

18 Aug 2020

You can always buy BTC in smaller amounts, always good to have a small amount as a hedge
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Crypto.com is good and they issue a Visa Card where you can spend your crypto. However just that now they have temporary paused the shipment of cards due to issuer issue.

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Marcus
Marcus, Founder at manualmode
Level 4. Prodigy
Answered on 17 Aug 2020

Crypto.com, Coinhako, Binance, Coinbase. But from my understanding, Crypto.com is the cheapest in terms of fees.

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Travis Teo
Travis Teo

18 Aug 2020

Believe that Binance is a better platform as compared to crypto.com
Marcus
Marcus

19 Aug 2020

Hey Travis! I think you're right too, for large sum traders, Binance should be cheaper, but HAHAH, i use the CdC's card so I just use they full system (app, card, exchange, earn) also, much simpler to me ah
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