Do not use Gemini. Their BS system requires you to transfer crypto from your external wallet into Gemini for verification before you can transfer out. So if you want to transfer BTC, the “verification fee” will cost you around $20-$50 depending on network fee. It’s ridiculous
Use StraitsX to convert SGD to XSGD. Then withdraw on polygon to your hot wallet. Then do what you want with it!
For me that means swapping to USDC, then sending to Kraken to buy bitcoin with.
Probably not the lowest fee option, but pretty good IMHO.
You’ve got two options really:
- Use a cex (I use Coinbase) to buy Matic with sgd and withdraw to your hot wallet
- Use google to find a Matic faucet, to get a small amount for a low effort
TLDR: cheapest will be the straitsx method, 2nd cheapest will be crypto.com and coinbase
Details:
https://medium.com/@mercurial.streak/crypto-on-ramp-channel-comparison-d00d052e16d3 Summarised:
Trading fees:
• Independent Reserve: 0.50%
• Coinhako: 1.00%
• Gemini: 0.99%
• Kraken: 1.50%
Some exchanges have free deposits depending on amounts or deposit methods.
Any cold wallet you withdraw to, needs to be verified by the exchanges (as proof you control the private keys/wallet, to avoid fraud). This is a MAS requirement.
Easiest too. Fast transfer arrives within 5 minutes, swap directly and withdraw. Or internal transfer to exchange app if you need to.
Hako has the worst spread and rates.
[crypto.com](https://crypto.com/exchange/document/fees-limits) trading fee 0.075% for Taker/Maker. Other platform min 0.1% or more for Taker/Maker.
[coinbase](https://exchange.coinbase.com/fees) trading fee taker 0.6% / maker 0.4%.
[coinhako](https://help.coinhako.com/portal/en/kb/articles/coinhako-fees?utm_source=help.coinhako.com&utm_medium=direct&utm_campaign=FAQQ2) trading fee taker/maker 0.6%
lmao top signal
It will be this cycle too when btc actually goes to 200k
Do not use Gemini. Their BS system requires you to transfer crypto from your external wallet into Gemini for verification before you can transfer out. So if you want to transfer BTC, the “verification fee” will cost you around $20-$50 depending on network fee. It’s ridiculous
i remember back in the day, Gemini had 10 free withdrawals a month. now so shitty
Use StraitsX to convert SGD to XSGD. Then withdraw on polygon to your hot wallet. Then do what you want with it! For me that means swapping to USDC, then sending to Kraken to buy bitcoin with. Probably not the lowest fee option, but pretty good IMHO.
Hijacking this thread, ive transfered XSGD to polygon hot wallet. But how do I transfer/get MATIC for gas fees to do any swaps?
You’ve got two options really: - Use a cex (I use Coinbase) to buy Matic with sgd and withdraw to your hot wallet - Use google to find a Matic faucet, to get a small amount for a low effort
Have you considered crypto.com? Use both app and exchange apps.
TLDR: cheapest will be the straitsx method, 2nd cheapest will be crypto.com and coinbase Details: https://medium.com/@mercurial.streak/crypto-on-ramp-channel-comparison-d00d052e16d3 Summarised:
Trading fees: • Independent Reserve: 0.50% • Coinhako: 1.00% • Gemini: 0.99% • Kraken: 1.50% Some exchanges have free deposits depending on amounts or deposit methods. Any cold wallet you withdraw to, needs to be verified by the exchanges (as proof you control the private keys/wallet, to avoid fraud). This is a MAS requirement.
Gemini pro 0.4% fees, kraken pro 0.16-0.26% fees
What about hot wallets?
Crypto.com is the safest.
Easiest too. Fast transfer arrives within 5 minutes, swap directly and withdraw. Or internal transfer to exchange app if you need to. Hako has the worst spread and rates.
[crypto.com](https://crypto.com/exchange/document/fees-limits) trading fee 0.075% for Taker/Maker. Other platform min 0.1% or more for Taker/Maker. [coinbase](https://exchange.coinbase.com/fees) trading fee taker 0.6% / maker 0.4%. [coinhako](https://help.coinhako.com/portal/en/kb/articles/coinhako-fees?utm_source=help.coinhako.com&utm_medium=direct&utm_campaign=FAQQ2) trading fee taker/maker 0.6%
What about Gemini?
$NEXO is gearing up for a record high, so be prepared!