In this video, I’ll share with you how to buy Bitcoin in Singapore, where to keep it, and things to take note. Enjoy!
► Binance.sg to get the best exchange rate: 35022204
► Binance.com to buy in USD
► Keep Bitcoin in BlockFI for high interest rate
► Interactive Brokers for best commission rates:
► Free Tiger Brokers stock vouchers:
► Discord chat:
0:00 – Intro
0:58 – Why not use a broker to buy?
Normal brokers allow you to buy some sort Bitcoin derivative, but it’s not Bitcoin, you can’t use it. And second, they don’t allow you to transfer Bitcoin around.
2:09 – Which exchange to use?
Some exchange charge very low trading fees, some don’t even have withdrawal fees, but that doesn’t really matter too much, instead the most important number is the exchange rate. Binance.sg and Binance.com gives the best exchange rate, while BlockFI is the worst. Binance.sg relies on Xfers to fund the account, and the government caps the spending to $30k a year, if you maxed out the spending limit, just use Binance.com after that. For Binance.com, you should fund the account with Revolut card to get the best SGDUSD exchange rate.
5:00 – Where to keep your Bitcoin?
If security is your concern, you can store your Bitcoin in a cold storage, meaning somewhere that’s not connected to the internet. The best way is to buy directly from Ledger.com.
Even though some exchange will refund you if your Bitcoin was stolen, there’s a chance that they do not have enough money to refund you. With that being said, if security is not your concern, there are a few alternatives:
Binance.com offers 1.2% interest rate
Crypto.com gives you higher interest rate by also buying the CRO coin, and you also get a debit card. Depending on how much CRO you have, you will get different benefits. Like if you invest in 25000 CRO, you will get a free Netflix account.
Coinbase has a debit card but it has tons of fees, I would personally avoid it.
BlockFI gives an annual interest rate of 6%. I am personally putting my Bitcoin here.
8:44 – How to buy Bitcoin?
10:18 – How to transfer Bitcoin to another exchange?
10:54 – Things to take note
As mentioned earlier, your Bitcoin is not SIPC insured, so if it is stolen, it is as good as gone.
Second, set a very strong password for your Bitcoin exchange, use a password generator if you need to.
Third, enable 2 factor authentication. At the very least, use SMS authentication, or even better use Google Authentication which is much more secure.