What Is The Difference Between Binance And Binance Singapore?
If you have ever wondered what the difference is between Binance and Binance SG, trust me, you are not alone! In today’s article, I will write about the differences between the two platforms in terms of functions and how you can use them both.
Why are there two Binances?
I’m not quite sure about this one. I guess because Binance operates worldwide it can be tricky at times, as each country may have their own country specific jurisdictions and regulations. Therefore, Binance SG was likely a separate entity from Binance to be able to comply with local Singapore regulations and operate here legally.
Binance SG is even backed by Vertex Venture Holdings Ltd, the venture capital arm of Singapore-based Temasek Holdings, so you can be sure that it is safe and legal to use Binance SG – you can even link your CPF to Binance SG quickly. track your verification.
Differences between Binance and Binance SG
Despite the similarities and the fact that they are both the same company, there are a number of differences in functionality between the two platforms, and as a result, the function and use of each platform differs. also.
In short, Binance SG offers a lot less functionality than Binance, but offers cheaper ways to buy crypto (with less transaction fees)
As you can see from the comparisons above, although they are two platforms from the same company, their fees and features differ significantly.
Which platform should I use?
I personally use Binance SG and Binance, but each for their own specific role.
The only time I use Binance SG is when I want to buy BTC or other crypto using SGD. This is because Binance SG offers the lowest transaction rates when it comes to buying crypto with SGD (Binance, on the other hand, charges over 2% credit card and conversion fees)
After buying BTC on Binance SG, I then send the BTC to Binance, which allows me to do other things like trade with it, or buy or sell other altcoins. This of course carries the risks of losing your Bitcoin.
This article originally appeared on All About Bitcoin.
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