Bitcoin Forum

I live in singaporr and i use huobi global to buy usdt and sell bitcoin, but the exchange is closing all singaporean accounts by 31 march 2022, does anyone know which other exchange sells usdt and buys bitcoin in large quantity like usd 500,000

I guess every well-known exchange can accept a $500k deposit and be tradeable. The only thing is that in order to trade such amounts, you will probably need to pass more than their "simple" KYC verification. In any case, create an account in another exchange, pass their (mandatory now) KYC procedure, and talk with their support about their volumes/ tiers/ levels.
Before you do this, make sure that they accept people from your country/ region...

To add to what condoras said. There are a few somewhat well known / larger and reliable exchanges that have USDT <-> BTC trading.
AND the $500000 is possible. BUT you will have to do KYC to *withdraw* that amount on a daily basis.
There are many exchanges that have $10000 or BTC0.1 or BTC 0.25 maximum withdraw per day for unverified accounts.
So if you are doing $500000 a year you have plenty of options.
If you are doing $500000 a month and don't want KYC it's going to be difficult.
Any more then that you are going to need KYC.

Different people have different ideas about what a good trustworthy exchange is. Do a lot of checking before sending money to one.

-Dave

Doing KYC is not a problem, which are the exchanges? Can you let me know?

Binance has made the same thing in the US like for Singapore. You've got your own Binance Singapore. So if you're living in Singapore then that's easier for you to use their dedicated Singapore domain for users like you residing there. As mentioned in the other post next to you, you have to verify KYC since it's not a problem for you, you check them. The link for Binance SG: https://www.binance.sg/en

I cant do binance singapore, i,m having problem wuth xfers, it says ihave already registered xfers and cant verify my account

Why not the Binance Global? I'm sure it works on Singapore like most countries. Or try to use other than binance, like kucoin, or why not go to p2p market that doesnt have KYC.

Im not familiar with restrictions of crypto on Singapore but Im sure there are platform that will accept usdt or btc.

I believe Binance p2p will serve you best as you intend trading a large amount unless you are ready to go through KYC if you must use Biki exchange for such large amount which is something I think you will not want to do.

I think p2p on Binance is also a problem in Singapore. Probably you can just use other p2p exchange site such as Localbitcoins or Paxful? But with that huge amount of money I really think you need to pass KYC you can't sell or buy 500,000 without doing a KYC.

In singapore there are several exchanges / crypto, besides (huobi global) that can be used.

List of crypto exchange names in singapore.

1. Kucoin (https://m.kucoin.com/)
2. Coinbene (https://www.coinbene.com/appDownload.html#/appDownload)
3. bybit.com (https://www.bybit.com/id-ID/)

Among the three exchanges, you can register and make transactions both with usdt to bitcoin and vice versa.

However, among the three, the more well known is KuCoin.
But the decision is in your hands which one to use.

One more for additional information for you the names of exchanges in all countries operating in each country.
You see here: Topic: Crypto exchanges comparison [trade fee + listing fee + age + mobile app + more!] (https://bitcointalk.org/index.php?topic=5079048.0)

If you're planning on using Kucoin, keep in mind that they get hacked and lost quite big. Not saying that other exchange is free of hacks, but I do think it might contribute to decide especially if you're planning on doing lots of tx around that volume regularly. As for that xfers problem, have you tried asking further and clarify that you don't have any account yet? Sounds like a database issue.

All exchanges have this pair, so you can swap bitcoin to usdt on any centralised or decentralised exchange. Centralised exchange will require you to pass KYC, but you will be able to deposit and withdraw fiat then. Personally I prefer decentralised exchanges as they don't require KYC. From CEX the best one is Binance. from DEX the best one is Uniswap.

How about the Gemini exchange? Here is the website https://www.gemini.com/apac/singapore

Besides that, I did a little search for the exchange for Singaporean people and I get an article that has a list of the exchange in https://coinmarketcap.com/alexandria/article/best-crypto-exchanges-in-singapore.

You can search one by one of the lists to find out more. Hopefully, you can get what you want. But I suggest you not use too big money to trade because the risk factor will be bigger.

Yes, they stopped supporting Singaporean customers through binance.com because they've opened a domain Singapore dedicated as I've said.

I have no idea about xfers. But if you can't use Binance SG then kucoin would be my next suggestion to you.

If you are dealing with a ton of money, then I would highly suggest Coinbase. They are very well known to handle big accounts, smaller crypto people may have a little bit more problems with them since it may take a while and when you are dealing with 100 dollars you would like to be quick so that you could make the move right away to catch even the smallest profits since you need it. However, if you are handling 500k dollars or similar numbers then you should use it and you could be patient as well.

As we all know those type of amounts take a long time to pass in banks as well, if you would like to send money to another nation, it may take as much as 3-4 days as well depending on the method, once I had 17 days as my record, it was shown and both banks said it will happen, so there was no problem, it just took that much because of some banking related thing, and it eventually did, and it was a small amount too. So when you are dealing with 500k, you could be waiting a lot, but in the end it is the most trustworthy place.

For sure, with that huge amount dude, any exchangers will not refuse amount. Because it will definitely give a good trust for them,
And I am not updated yet about what is happening to Singapore by next year. But you can do search in the other plaform exchange where
you can do what you want to your capital.

I will not risk that such amount to buy bitcoin at once because I will have a big risk, even if I use a reputable exchange. I feel better if I can use some money and send the bitcoin to another wallet and not just keep it in the exchange wallet. Using $500,000 to buy bitcoin needs to be split to many order buy because bitcoin prices have volatility that we do not know when the price will go up or down. If we can buy bitcoin when the price is down, that can help us to have many bitcoin than if we buy at once. I think he can use Binance or Poloniex or Bittrex because I see that Poloniex and Bittrex serve many members from many countries but he should verify himself before he can trade.

I tend to agree too since Coinbase was more regulatory friendly and as far as I know it supports Singaporean users as well. I don't know if 500k is via OTC but there's a link below if you're into ¹credit or debit card, you may follow it. For other suggestions on exchanges I think of Kucoin and Upbit.

Here's some helpful guides if you're from Singapore:
[1] https://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/payment-methods-for-singapore-customers

first of all make research what exchanges still available on your country,  if you see nothing then that's a bad news wherein maybe your country becomes against in crypto. And for sure even you used VPN it's useless.. But you still have option mate using swap sites if you still want to trade your stable coins to btc despite of your situation. .the best thing in it is you don't need any requirements such kyc,  just permission to connect your wallet and you can trade immediately..

I always wondered where these people came from. I mean if you are dealing with 500k and more, then you could contact with places personally, whenever we are talking about this much money then it becomes something that they would work extra for. This is a one minute job that they could handle and could make nearly a thousand dollars on profit, if you are giving them this much money then they could personally put a person on you to take care of every need you may have.

There are two reasons for it, one of them is the fact that their workers are usually working for cheap amounts so it is easy to put a person on you and they could handle 100+ customers this way personally with just one cheap worker, secondly they believe that anyone who deals with that much money may end up doing too many different stuff as well, not just buy and hold, you may do that but they take that risk.

So far, the most completed is Huobi Global
Actually, there is also Binance SG, but unfortunately, there are only a few coins listed and the way is to purchase coins with SGD

And for other exchanges, see and anlyze some top exchanges as in the following. They are also available in Singapore like:
- OKEx
- Bitfinex
- Kraken
and others with their own plus and minus.
And OKEx has the most completed cryptocurrencies listed available to buy or sell. Thye is available to buy with USDT, but not with SGD.
Btw, you can check them completely here:
https://blog.moneysmart.sg/invest/best-crypto-exchange-singapore/

Thankyou for all the support given, kraken has a yearly limit of 500,000 all the rest of the exchanges doesnt have the limit that i am looking for, the rest of the exchanges doesnt deposit to bank account, thanks for the information, if huobi sin gapore opens 1 month later i,ll see how much they can withdraw. Luckily i have piffin browser, was able to verify ti do yhe kyc, google chrome and samsung browser have some issues with the verification

That's all good advice and if I may add, whichever platform you end up in make sure you spread your buy/sell order. This is very important to avoid large market moves. Either way, there isn't a way out of KYC which is a shame but can always shop around and even split across multiple platforms if can fall under the KYC bracket? Idk - just a thought

I suggest you to use Binance for your trade. Because Binance is the number one exchange in the world. The trading volume of any coin is much higher here.  However, Binance has now made kyc mandatory for users. But don't worry about kyc, its very simple. It is better to talk about your trade in support channel.