BINANCE BANNED CRYPTO TRADING in Singapore WHAT TO DO NEXT How about Binance Earn and Staking BETH
com for singaporeans and sg user. Okay. So if you go to their website right theres under this announcement right, you will be able to see there is this special notice about binance.com in singapore? Okay, so once you click on that right, you will be able to see the changes to binance offering in singapore. So let me summarize on this update will be what are the function on binance.com, that they will be seizing the services. The first one will be the fiat deposit services, which is the p2p spot trading of cryptocurrency, which is the basic trading of cryptocurrency under binance.com and the purchase of crypto currency through fiat channel, and also the liquid swap regulated payment services. Okay, so we only have one month to do something about the current asset that we have and it will end on the um 26th of october 2021 to avoid any potential trading dispute and because cryptocurrency trading is subject to a higher market risk. So um, please make your trade consciously and your advice that binance is not responsible for your trading losses. Okay, so in short right, what we are not able to use after october will be the under the trading which is classic trade or any other trade. Okay, which is here so we wont, be able to buy any cryptocurrency from binance.com anymore. So, if you want to do it, you will need to do it um within these 30 days, and if you want to um, still want to trade right using p2p um.
You can still go to um binance p2p and you search bnd, which is the brunei dollars to purchase some of your usdt of usd to trade. Your last trade, okay, because currently the price for the usdt um exchange to sgd, is very low. Its like fire sale its at 1.361. So if you want to do it fast, you can um like buy whatever um tokens you want to hold and to do it do it now like, because currently the price is quite low, so you can do most of your transaction okay. So next right um, a lot of people has been asking whether if the binance uh earn right is it able to use right now the future finance futures and finance earned are able to use even after october 27th, okay, so um. So if you have like assets under your binance earns such as your bmb staking or even the eth 2.0 right, which is, if you exchange your eth to stay inside the eth ethereum 2.0 staking you will be getting this b etf right. So for this um etf um, there wont be any changes um if you still um hold that asset inside binance. Okay, so it wont affect any um assets of your cryptocurrency under your finance, finance earned okay, because um this morning i was worried. Therefore, i understand all my locksticking under finance and where, under my lock, i already um transfer most of my um assets out of um binance lock.
So after that i did send some inquiry under the chat room support for binance support. So this is what they provide me: okay, they let me see the Music okay, so you can see the history. Is that um so im asking whether whether does it affect our b e t h for eth? 2.0? Okay. So if you are saying, if you see this right, so they reply that um, hello, dear user, sorry for making you wait for so long so upon checking earnings products, including eph 2.0, are still available even after october. So you are still able to get interest as per normal. However, liquid swap need to be redeemed because it is not supported after that time. Okay, so um. They also mentioned that b. E t h is for eth 2.0 and its still fine after that time and finance taking is also available even after the so i i was asking them whether do i need to redraw any asset from binance and mbth from binance.com, so they are saying that you Can continue to get interest from it? So if you want to continue using our banana stick to earn some interest for your cryptocurrency okay, so for guys, i think this um answer the question of whether um banans taking easy um available even after october 27th. So they had already confirmed that by nasa and you are still able to do it. What other features that is not able to do is the im trading off cryptocurrency, buy and sell to cryptocurrency, p2p and uh future is still able to do it.
Okay and you are not able to do liquid swap okay, so i think that is the seizing of the binance offering in singapore, and if you are worried right, you can always unstack everything and use other platforms such as um. We have shortly some of the other exchanges that you are able to do it with low um transaction costs. One will be a cool coin. Okay, cool coin is something similar to binance.com. You can still use um, p2p and even bank transfer, and they have most of the tokens that is available under binance um to coin. Okay, next will be hoppy: okay, hopi global um. I will list all the links below so that you can um. Do your own research on which kind, what kind of um assets youre holding and what kind of crypto they want to transfer over? Okay. So for those who want to go for long term, where you want to keep most of your um crypto on a long term basis, such as three to four years and above and if you still want to do trading, you can maybe um transfer over to kucoin Um copy coin: hako, okay and binance.sg; okay for balance.sg, they only supported these tokens, which is um bitcoin, ethereum coin cash, xrp new and chain link; okay, then, for coinhackle theres, more more tokens that you can play around, such as ess, bmb, etc. Okay, so like dodge coin, okay, you you can like send your deposit um your assets over to coin hako, and if you want to sell it, you can sell from here, but quite cool.
The transition fee is slightly um higher and for the bananas singapore they provide very little um choice of crypto. If you want to transfer over and if you like, want to hold for long term right, maybe you can um withdraw from your binance.com to other internet wallets. Such as celsius, where you can earn interest by keeping your crypto under these online wallets such as celsius, they provide a lot of um cryptos that you are able to place it here, such as bitcoin ethereum, btc dash, litecoin, xlm, omg, tusd, and a lot more. So they like support over 40 40 over different cryptos to earn interest, and the interest is quite high, like formatic. They are having like 10 to 12 percent and the payout is um by weekly. You can earn back your native tokens or you can earn a success. Token, okay and it will be keep on rolling and next will be how the not honorable day is a local company. But you are only able to hold these six tokens. Okay, which is um, btc, die eth, usdc, ui data usdt, and what btc and the rate for hodder knots is as4lola, so for bitcoin its like 7.2 percent um. What btc is the same? The ath is 7.2 percent usb c um usdt is 12 percent. Okay. So you deposit inside you earn this interest on a weekly basis. Also, so the playout will all be within um weekly on every monday.
Okay, so uh, the one celsius and holder not is the roughly the same. Then the coin echo and bitcoin is also um for local exchanges. If now you can like use, if you want to continue trading um, like short term, you still want to trading um crypto, like you want to buy existing stocks, to increase your inventory right, you can either use kucoin, um copy or theres, like other other things, like Other exchanges such as i think, theres, like one that is ok x, okay, okay, x, um or ftx; okay, you, you can use um that other option for you to choose. So i remember to do your own research before you deposit, transfer anything because theres a lot of network that you need to choose before you transfer any cryptocurrency okay, so i think thats pretty um summarize what is happening within these 30 days. So if you havent prepared yourself, maybe this can act as a guide for you to Music. Do some transferring of Music binance wallet? Okay, because for me right, because im still doing d5 projects, so i what i may doing is i will transfer those um crypto that i want to hold for long term like such as matic adder, right, ill transfer. All these into celsius wallet to earn uh interest. Then for vet i would just still keep it under binance earn to consolidate them. So far, like polka dots took uh, polka, dots coin, our all transfer to celsius wallet already then for sushi swap.
Maybe i will sell back to usdt and convert back to cake and stick under pancake swap to earn some um cake tokens. Okay, so most of my coins under binance are these fila edda sol polka, dots, methic and edda. So i think i will transfer all my eda cardano matic um polka dots to over to celsius. Then i will keep those um the rest under here, such as my Music, the what eth, which is the eth 2.0, is taking yeah. Then, if you are worried right, then, if you want to sell everything, maybe you can just go to trade and convert everything into your usdt or the staple coins law. Then maybe you can stick your um stable coin under holder not or hold or not or celsius, to an interest okay for hold on. I think the interest is slightly higher because the interest is like 12 yeah, 12 percent for usdt for the first 25 000. Okay, i will leave all the links below so that you can um use it um for first 25 000. You will be earning 12 percent ifr and apy will be 12.73 okay. So this is for guys who want to change all the tokens under their binance and redraw all your crypto assets from binance, okay and theres. Also like this function, where you are able to convert all your small tokens into bnb like such as um, you can hide or balance right or you can convert small balances into bnb.
You click on here right, like all your um miscellaneous tokens, samsung 3 tokens are here, then you can just convert. So if you want to convert, i can convert 0.’ bmp yeah. Then you can consolidate your bmb either transfer to your mana mask to buy other tokens. Still continue in the market or you can transfer over to other trading exchanges to sell or what, because, currently, you still have three months doing, uh 30 days doing all these things. Okay, so i hope that this video can help you a lot and dont panic and remember. Um one rule is invest only where you can afford and dont lose money. Okay, so because for crypto is im, usually for long run, so short run under, you are doing like contracts, so crypto future is still able to do finance and is still able to do. Only difference is the trading of cryptocurrency under finance and um deposit and withdrawal of from banans.com is still able to do it yeah. But if you have any doubts right, you can just go to binance.com and under here support right, you can check with them. Then they will answer, there will be a customer service talking to you to give you support and answer whatever question they are asking them. Okay, so i hope that this video can be helped you if you like this video, remember to like share and subscribe to our channel and as ill see you in the next bbp video.
Thank you for watching, see you and bye bye, Music, hello, guys.