Why I chose Binance International over Binance Singapore

Comparison between the 2 platforms

Photo by Executium on Unsplash

If you are based in Singapore, you have the cheaper option of dabbling with crypto using Binance Singapore. I was using the platform for a while, and I noticed that there were some limitations. Here are some of the key reasons why I moved from Binance Singapore to Binance International.

Reasons for choosing Binance International

1. Binance SG is only available on a web-browser version for iOS devices. This means that you need to go through the hassle of logging in via a mobile web-browser AND use a mobile web interface to perform your transactions for every transaction that you make. From my experience, that was rather painful since I perform most of my transactions on my phone.
2. Binance International is a more comprehensive trading platform. You have the option to set your buy/sell limit. That is to say, you can set a buy (long) or sell (short) price and the order gets fulfilled when it hits your trigger price. Likewise, you get to play with margin and all that options in Binance International only.
3. There are only 8 coin choices available in Binance SG. This will be a concern if you are looking to dabble with altcoins instead of the usual crypto choices.
4. When the transaction volume is high, the most reliable coin exchange in my opinion is Binance International. My orders couldn’t go through in both Binance SG and Coinhako due to the high volume of transactions. The only one that was able to process it was Binance international. My circle of friends confirmed it, so it wasn’t my network or connectivity issue at play.

So is Binance Singapore entirely useless?

No, it really depends on your use case. If you fall into any of the following 2 categories, Binance Singapore is a suitable platform for you.

1. You foresee yourself buying only the usual cryptos (BTC/ETH) and making very few transactions in Binance.
2. You are starting out with crypto and you are just looking to jump onto the crypto bandwagon.

It is the cheapest medium for you to get started with crypto, and the non-complex interface makes it a lot less daunting and error-free for beginners. I made a couple of mistakes when I was first starting out on Binance International because there were simply too many buttons to click.

I hope this post helped you with your decision on choosing which platform to use.

If you want to know how to move from your money from Binance Singapore to Binance International, you can check out my post here.

Cheers!