If you've ever wondered what the difference between Binance and Binance SG is, believe me, you are not alone! In today's post, I'm going to write about the differences between the two platforms in terms of features and how you can use both.
Why are there two binances?
I'm not entirely sure of that. I suspect that since Binance operates globally, it can be tricky at times as each country has its own country-specific jurisdictions and regulations. As a result, Binance SG was likely a separate entity that was spun off from Binance in order to comply with local Singapore regulations and to operate legally here.
Binance SG is even backed by Vertex Venture Holdings Ltd, the venture capital arm of Singapore-based Temasek Holdings, so you can rest assured that Binance SG is safe and legal to use. You can even link your CPF to Binance SG for quick tracking of your review.
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 hence the functionality and use for each platform will also differ.
In short, Binance SG offers a lot fewer features compared to Binance, but offers cheaper ways to buy crypto (with fewer transaction fees).
Photo credit: All About Bitcoin
This article originally appeared on Everything About Bitcoin.