BEST Crypto Exchange to Buy Bitcoin - YouTube

So binance.com has been officially banned  in singapore and you cannot use it for your  

crypto exchange anymore but fred not  as today i will be sharing with you  

two of the crypto exchange app that i use  that can help you to buy cryptocurrencies  

such as bitcoin and ethereum so that you  don't have to burn a hole in your pocket  

hey guys welcome back to honey money sg my name  is christopher and in this channel we are all  

about building financial knowledge share money  saving hacks and also help you lead the fulfilling  

quality of life so i'm sure you guys have looked  at my previous holding up video where shared by  

one of the best crypto platforms that can help you  earn high interest especially on your stable coins  

as well as the mainstream cryptocurrencies such  as bitcoin and ethereum so some of you may have  

the question of how to buy cryptocurrency if you  cannot do it on hold or not yeah because holdup is  

actually not a crypto exchange it's more like  a landing platform so you cannot actually buy  

or sell crypto on that platform itself but what  you could do is you can buy it from other crypto  

exchange and then transfer it into the holder  not wallet so in today's video i just want to  

share two of the apps that i really use and really  like and maybe you all can consider these two apps  

for your crypto buying and selling now once again  this disclaimer comes that this is not financial  

advice and cryptocurrency is a highly volatile and  speculative instrument so do not own your money  

without knowing what you are putting your money in  for yeah so with that said let me take you through  

the two apps that i use let's go so for crypto  currency exchanges i primarily use two brokers one  

of them is ftx pro and the other is gemini and i  don't learn all these by myself so i'll shout out  

to one of the members who helped me name is will  flair from telegram thank you for your help and  

this information is what i learned from him and  he's actually one of the ambassadors in the holder  

not support group so ftx pro if you have heard of  this app it's one of the lowest and cheapest cost  

brokerage that you could use to buy or sell  your cryptocurrencies they also have a lot  

of crypto pairs in the app and the program and  how cheap are we talking about that's just 0.02  

of your transaction value for the maker fees  and this is only tier one now for those who  

don't understand what this terms means right  maker fees means that if you set a limit price  

instead of the market price then you will incur  a much lower fee which is what we call the ticker  

fee on the other side because when you limit buy  or sell at a certain price right you are making  

the price right and then if you are a ticker which  means you just takes whatever the market price is  

it will incur a higher level of commission fees so  that's why it's called the ticker fees so if you  

want to set your own limit price then you'll enjoy  that smaller commission fee which is called the  

maker's fee so for ftx pro it's very cheap at only  0.02 and that's just the base here which means if  

you have an even higher transaction volume per  month then you will enjoy even lower fees when  

you move up the tiers level okay and if you use  my referral link for ftx you can get five percent  

further discount on your commission fees so that's  just a sweeter deal the next broker that i use is  

more widely known both locally in singapore  and internationally that's gemini now gemini  

is really popular because it is easy to sign up  you can just sign up with your sync pass account  

which is our singapore government issued online  account for every singapore resident and gemini  

is not that expensive either for maker fees they  are charging around 0.25 percent which is not too  

bad right and the thing about gemini is they have  a good referral program as well so if you use my  

referral link down in the description and the ping  comment you get ten dollars of free cryptocurrency  

which can be in bitcoin or ethereum based on  what you choose so if you want me to compare  

between ftx and gemini it's very simple right  you know the stock brokers tiger brokers mobile  

brokers and interactive brokers right i would say  gemini is kind of like the tiger and moomoo level  

which is simple easy to use intuitive no need to  think much about what you want to do just follow  

what the app says and then ftx pro is more like  interactive brokers there are a lot of things you  

could do on the app by slightly more complicated  to use because there may be more functions that  

you need to discover both within the app and  the web page oh and one more thing for gemini  

in order to get that 0.25 percent commission  fee you have to go to your gemini webpage  

which is not in your app you have to go to the  website and under the settings go ahead activate  

the active trader that allows you to incur a  smaller commission fee compared to the usual  

higher percentage commission okay one more thing  about gemini is they have this very good benefit  

where you can make 10 withdrawals per month and  they won't charge you any fees so it's primarily  

used for redrawing coins to fear so gemini even  though their fees are not that low even for active  

trader but it's a very good platform that you  should have should you one day need to transfer  

out your coins from one wallet to another and some  of the coins are not supported then gemini really  

comes into play as a very important medium here so  with all that said you may also have the question  

of how to fund money into your crypto exchange  in order for you to buy cryptocurrencies right so  

for funding i think the best way to fund it is to  fund in u.s dollars instead of your local currency  

such as singapore dollars because for us dollars  the pairs that consists of usd with the token is  

actually having a lower spread compared to what  you have with the sgd because there are definitely  

more people using usd to buy cryptocurrencies than  sgd right so good practice is always to look for a  

usb pair like btc slash usd instead of btc sgd  so in order to have usd to buy cryptocurrency  

you need to transfer in usd right so how do you  do that how i do that is i use my dbs multiplier  

which is a multi-currency account and then i use  the dbs remittance service so that i can transfer  

it from my dbs usd account to the usd account of  my destination broker also dbs does not charge any  

fees when you remit usd right so that's like  icing on top of the cake the other way is to  

fund your crypto exchange through credit card  but they charge like super sky high fees right  

2.5 to 3 i think these fees also do not earn any  credit card rewards so it's definitely not worth  

to use credit card but of course if you need the  funds in time like instantaneously then i think  

credit card is your best chance at it because you  don't want to waste any time before the coin goes  

to the moon and then next i just want to share  some of the ways which you could get usd on  

your dbs multi currency account now number one  is definitely the most direct and simplest way  

which is to convert your sgd to usd within the  dbs app itself so if you have a multiplier or  

multi currency account all you have to do is go  to the currency exchange portion and then click  

like transfer it will transfer your sgd from your  singapore dollars bank account to us dollars in  

the same multi-currency account but it will incur  quite a small spread which is like 0.5 percent and  

because of the spread the foreign exchange rate  isn't really that good but this is the fastest way  

you could get usd basically just convert your  local sgd to usd within a dbs website or the  

multiplier platform and then you get usd instantly  the second way will consist of more steps and that  

would involve you signing up for one of the  brokers right here which is tiger brokers or  

moomoo brokers where you can get your one free  apple stock by depositing some cash into their  

app but what you want to do here with moomoo and  tiger brokers here is you want to actually fund in  

sgd into this momu and tiger platform and then you  use the in-house currency exchange function which  

has a very small spread of 0.3 percent i believe  so what you do is you convert your sgd to usd  

within moomoo brokers or tiger brokers app because  they have quite a small spread right 0.3 percent  

then you withdraw this usd back to your dbs multi  currency account now what's the difference between  

this step and the previous step is that because  the spread is actually smaller at moomoo which is  

0.3 percent versus vbs in-house of 0.5 percent  so you save almost like 0.2 percent of the  

fx conversion fee based on how much you convert  so like the larger amount you convert the more  

savings you get and because of the partnership  between mumu and tiger brokers with dbs right  

dbs won't charge you any fees for any incoming usd  sent from tiger or mumu but the difference between  

mumu and tiger is that for tiger you actually need  to have your cash funds placed at least two days  

within the tiger platform before they are eligible  to be withdrawn while for moomoo you can actually  

withdraw it instantaneously so in essence of time  you may want to prefer using moomoo now the last  

method is what i use currently but it may not be  for everyone but what i do is i use interactive  

brokers for their best currency exchange rates now  if you have seen my videos in stock investments  

before you know that interactive brokers is my  most preferred choice of brokers one of the big  

reasons is because they have a very good foreign  currency transaction rate which means if i convert  

sgd to usd within the interactive brokers they are  giving me close to the google spot rates of the fx  

as well so there won't be a lot of fees incurred  in the foreign currency transaction and what you  

want to do after you convert your sgd to usd  you'll do the same thing you just withdraw from  

your interactive brokers back to your dbs multi  currency account in usd but take note because of  

this dbs multi-currency account they charge like  a 10 singapore dollars of fees for inbound usd  

transfers so that's like seven dollars usd of  fees but if you are exchanging large amounts  

then i think this seven dollars usd or fees i  think it's a very small price to pay because you  

get a very good foreign currency exchange rate  so let's compare the three of them again number  

one you have the dbs in-house foreign currency  transaction which means you transfer sgd to usd  

within the same dbs app now number two moomoo and  tiger brokers you will transfer your dbs sgd into  

the tiger and moomoo brokers app and then you  convert using the momu or tiger brokers in-house  

currency exchange for the very small spread and  then you withdraw that money back to your dbs  

multi-currency account and then number three  we have interactive brokers same thing take  

your singapore dollars from anywhere and pull it  into interactive brokers convert it within the  

interactive brokers currency exchange then  withdraw usd from your interactive brokers  

back to your dbs multi-currency account but  note that this will incur a seven dollar usd of  

inbound usd charges so depending on what you like  right for me a sweet spot if you are transferring  

above like three thousand dollars usd right then  i think interactive brokers is the way to go  

and you'll get your funds the same day as well so  like i mentioned earlier once you get all the usd  

in your dbs multi-currency account or multiplier  account then use this usd to transfer the funds to  

your ftx or gemini app and there you go you have  the whole usd for you to buy cryptocurrency pairs  

instead of going through the sgd pass all right so  i hope all this information has been of good value  

to you and hope that you have learned something  new and if you like the information that i have  

shared today do give a like it just takes one  second of your time at the bottom of the video and  

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my name is christopher this is honey money sg  steering young adults to financial independence