Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed
8 Pages < 1 2 3 4 > » Bottom

Outline · [ Standard ] · Linear+

Q&A Thoughts on Binance?

views
     
ShinG3e
post Jan 31 2021, 08:40 PM

o0o
******
Senior Member
1,552 posts

Joined: Feb 2013
QUOTE(HokkienMee_Lover @ Jan 31 2021, 02:28 PM)
For people who don’t know what is Binance, Binance is a cryptocurrency trading platform.

From what I have found online:
1. Binance has low transaction fee
2. Binance has way more crypto to buy and at a lower rate
3. Binance is easy to register for an account

But
1. Binance can’t let u withdraw fiat currency, only crypto can be withdrawn

The above points are what I have gathered after doing some searching

The problem is that I’m still at lost on how to withdraw funds into usd/myr

I have heard about some intermediate application to transfer funds from btc to usd/myr like TransferWise and other application. But I’m still not sure how is the process and how’s the rate of exchange.
*
in binance there is also P2P where u can sell your crypto's to MYR/SGD or others directly to your bank account.

Luno is for newbies. Luno/Sinegy/Tokenize just simple buy/sell and transfer/deposit. no brainer stuff.

Binance/Bitfinex/Bittrex is for crypto veterans. It has more product offering like Staking, Saving, margin etc.


Pikichu
post Feb 1 2021, 03:14 PM

Look at all my stars!!
*******
Senior Member
2,278 posts

Joined: Jan 2019
QUOTE(HokkienMee_Lover @ Jan 31 2021, 08:15 PM)
yeah im opening luno account too but the options are too little

thats y im considering using binance as side
*
later share FR on Binance remember to tag me, thank you.
ysc
post Feb 1 2021, 03:18 PM

Enthusiast
*****
Senior Member
860 posts

Joined: Nov 2008
QUOTE(HokkienMee_Lover @ Jan 31 2021, 02:28 PM)
1. Binance can’t let u withdraw fiat currency, only crypto can be withdrawn
*
Not true.
You can "deposit / withdraw" using P2P Transfer function.

It's like an escrow service, or similar to Remitano
ysc
post Feb 1 2021, 03:19 PM

Enthusiast
*****
Senior Member
860 posts

Joined: Nov 2008
QUOTE(HokkienMee_Lover @ Jan 31 2021, 08:21 PM)
dont think xrp is available in malaysia, app store search came up nothing
*
Luno can trade XRP
ShinG3e
post Feb 1 2021, 03:19 PM

o0o
******
Senior Member
1,552 posts

Joined: Feb 2013
QUOTE(Pikichu @ Feb 1 2021, 03:14 PM)
later share FR on Binance remember to tag me, thank you.
*
no need wait FR. i tell you straight, as a Binance user of 3 years, it's good. the UI/UX is responsively good. the mobile app is friendly too.
Doomsday
post Feb 1 2021, 03:22 PM

keluarpattern dupe slayer
*******
Senior Member
2,491 posts

Joined: Dec 2004
From: initrd
I been trading in Binance since they 1st launched.. never looked back on stupiak LUNO with exorbitant trading fees + other misc fees.

need 10% kickback referral on binance? PM me.

CC mafioso sedih
Pikichu
post Feb 1 2021, 03:23 PM

Look at all my stars!!
*******
Senior Member
2,278 posts

Joined: Jan 2019
QUOTE(ShinG3e @ Feb 1 2021, 03:19 PM)
no need wait FR. i tell you straight, as a Binance user of 3 years, it's good. the UI/UX is responsively good. the mobile app is friendly too.
*
+1

QUOTE(Doomsday @ Feb 1 2021, 03:22 PM)
I been trading in Binance since they 1st launched.. never looked back on stupiak LUNO with exorbitant trading fees + other misc fees.

need 10% kickback referral on binance? PM me.

CC mafioso sedih
*
+1
steady bro
post Feb 1 2021, 03:26 PM

Getting Started
**
Junior Member
75 posts

Joined: Apr 2020
i used to be using bittrex last time when i first started crypto

but for now binance is the best ledi, its the biggest exchange with the biggest volume and have the most coins traded, theres so many counters

and verification process is simpler than other exchanges
homicidal85
post Feb 1 2021, 03:43 PM

Getting Started
**
Junior Member
295 posts

Joined: Jun 2006
From: JB
QUOTE(HokkienMee_Lover @ Jan 31 2021, 02:28 PM)
For people who don’t know what is Binance, Binance is a cryptocurrency trading platform.

From what I have found online:
1. Binance has low transaction fee
2. Binance has way more crypto to buy and at a lower rate
3. Binance is easy to register for an account

But
1. Binance can’t let u withdraw fiat currency, only crypto can be withdrawn

The above points are what I have gathered after doing some searching

The problem is that I’m still at lost on how to withdraw funds into usd/myr

I have heard about some intermediate application to transfer funds from btc to usd/myr like TransferWise and other application. But I’m still not sure how is the process and how’s the rate of exchange.
*
just move crypto from binance to luno. then cash out to ringgit using luno.
just make sure the crypto you are sending to luno is something that luno recognizes like BTC or ETH. make sure you send to the correct address type. dont send ETH to a BTC address.
TSHokkienMee_Lover
post Feb 1 2021, 04:46 PM

Getting Started
**
Junior Member
157 posts

Joined: Dec 2020
From: tetekland


QUOTE(homicidal85 @ Feb 1 2021, 03:43 PM)
just move crypto from binance to luno. then cash out to ringgit using luno.
just make sure the crypto you are sending to luno is something that luno recognizes like BTC or ETH. make sure you send to the correct address type. dont send ETH to a BTC address.
*
been consider using this way to withdraw, but after the p2p people recommended here i think p2p its quite cheap and comparatively lower exchange rate than luno

but yea later on after im trying to cash out i will try both of them to actually compare the rate
TSHokkienMee_Lover
post Feb 1 2021, 04:48 PM

Getting Started
**
Junior Member
157 posts

Joined: Dec 2020
From: tetekland


QUOTE(Doomsday @ Feb 1 2021, 03:22 PM)
I been trading in Binance since they 1st launched.. never looked back on stupiak LUNO with exorbitant trading fees + other misc fees.

need 10% kickback referral on binance? PM me.

CC mafioso sedih
*
thanks for the assurance and review, im skeptical of the app that people promote either tru ads or hype, but ur comment does make me more trustful on the platform
Doomsday
post Feb 1 2021, 04:57 PM

keluarpattern dupe slayer
*******
Senior Member
2,491 posts

Joined: Dec 2004
From: initrd
QUOTE(HokkienMee_Lover @ Feb 1 2021, 04:48 PM)
thanks for the assurance and review, im skeptical of the app that people promote either tru ads or hype, but ur comment does make me more trustful on the platform
*
No skeptical la, people jsut not well educated on other options.

Just because LUNO is the most basic to get into crypto, any tom dick and harry would recommend it.

But I wouldn't because as what I mentioned earlier... just DYOR. If any inquiries jsut blast here and /k would help
throwaway_1146
post Feb 1 2021, 05:01 PM

New Member
*
Junior Member
9 posts

Joined: Aug 2020
binance very nice but maybe complicated for beginner, luno is much simpler
EdEd
post Feb 1 2021, 05:05 PM

Casual
***
Junior Member
358 posts

Joined: Oct 2011
remitano ok je
whyamiblack
post Feb 1 2021, 05:13 PM

Getting Started
**
Junior Member
70 posts

Joined: Feb 2014
How much is deposit fee to binance? Correct me if I'm wrong but Luno is free and myr > btc can go as low as 0.25%.
TSHokkienMee_Lover
post Feb 1 2021, 05:19 PM

Getting Started
**
Junior Member
157 posts

Joined: Dec 2020
From: tetekland


QUOTE(whyamiblack @ Feb 1 2021, 05:13 PM)
How much is deposit fee to binance? Correct me if I'm wrong but Luno is free and myr > btc can go as low as 0.25%.
*
i think is 15 usd first time for binance , both i havent used yet, luno still pending verify
whyamiblack
post Feb 1 2021, 05:22 PM

Getting Started
**
Junior Member
70 posts

Joined: Feb 2014
QUOTE(HokkienMee_Lover @ Feb 1 2021, 05:19 PM)
i think is 15 usd first time for binance , both i havent used yet, luno still pending verify
*
15 USD first time? One time fee?
UserU
post Feb 1 2021, 05:32 PM

CSONLINE2.NET - FREE COUNTER-STRIKE
Group Icon
Elite
5,093 posts

Joined: Mar 2009
From: Land of make believe
QUOTE(whyamiblack @ Feb 1 2021, 05:13 PM)
How much is deposit fee to binance? Correct me if I'm wrong but Luno is free and myr > btc can go as low as 0.25%.
*
On Luno, if the deposit is below 0.0001 BTC, you have to pay for the network transfer fee.
Sedih
post Feb 1 2021, 05:33 PM

Getting Started
**
Junior Member
99 posts

Joined: Mar 2015
QUOTE(Doomsday @ Feb 1 2021, 03:22 PM)
I been trading in Binance since they 1st launched.. never looked back on stupiak LUNO with exorbitant trading fees + other misc fees.

need 10% kickback referral on binance? PM me.

CC mafioso sedih
*
Dunno register using whos link the referral machiam tiada
yvliew
post Feb 1 2021, 05:36 PM

Listening to IU - Strawberry Moon
*******
Senior Member
3,918 posts

Joined: Nov 2004
I'm using remitano. Why don't use this? Can withdraw to local bank instantly. Got few crypto currency including the hot ripple now. Maybe you can use binance also other coins, when wanna withdraw, transfer to remitano. you lose some fees.

This post has been edited by yvliew: Feb 1 2021, 05:38 PM
« Next Oldest · Kopitiam · Next Newest »
 

8 Pages < 1 2 3 4 > » Top
Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.0222sec    0.99    6 queries    GZIP Disabled
Time is now: 17th December 2025 - 01:07 AM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.