Starting my crypto journey via Gemini + Guide to Gemini

I'm late to the game. And yes, I've FOMO.

The platform I am using is Gemini. I was searching for an easy to use, yet secure platform that can allow SGD transaction, instead of converting to USD. Gemini was touted as the most secure platform that has never been hacked (hope I don't jinx it). It was founded by the Winklevoss twins (go google 😊) Also, Gemini supports SGD where we can purchase crypto using SGD through FAST transfers.

It helps that people I trust were using this platform too

Anyhoo, here's my quick guide on how to set up (download the app or register via web browser. Both works).

1. If you are keen to kickstart your crypto journey, through a simple and user-friendly app, you can click on my referral link here. Upon your purchase/sales of USD$100 cryptocurrency, both of us will get USD$10 worth of bitcoin. 

2. Upon clicking register now, you will be brought to this page. Key your details.



3. Later, sync your details via Singpass as verification step

4. And you're done.

Here's how to start your cryptocurrency purchase

A) Deposit SGD in first

1. Find "Funding Sources" and click on "Manually link bank account"


2. Select funding source as SGD and key in your bank details. I'm using POSB savings, just for info.

3. Await for Approval/Verification from Gemini on your bank account

4. Upon approval, mine took 5 mins - click on "Transfer" and "Deposit into Gemini". Select Currency and transfer from your bank account; enter amount you want to transfer e.g $150 and view your deposit instructions
5. You will immediately receive an email sent to you, instructing you how to do the transfer. This works similar to how we do Tiger Brokers cash top-up. Your email will look something like this. Deposit accounts defers across users. 

You're almost there! The final step to making your deposit is to contact your bank and issue a FAST transfer from your bank account.

Note: Your bank account must already be registered to your Gemini account. Deposits originating from any bank account not already registered with Gemini will be rejected.

First, select a FAST transfer. All other types of transfers will be rejected.

Input the correct amount for your deposit: $150.00 SGD.

Then, choose the correct currency. This account can only receive payments in Singapore Dollar (SGD).
Funds received in other currencies will lead to the return of funds at your expense. Return of funds may take up to ten (10) business days.

Finally, you must include all bank information in your transfer.

Payment Instructions

Payee Name: Xfers Pte Ltd
Bank Name: XXXXX
Account Number: XXXXX
Comments/Memo: XXXXX
(this will likely be your mobile number)

Please note that some first-time FAST transfers may take up to 48hrs to get credited while mandatory verifications are being conducted.

6. Head to your ibanking page and do the necessary as listed in the "Payment Instructions" from email

7. Once done, your $150 SGD will take some time before it is deposited into your account!

B) Start your purchase

1. With your $150 SGD deposited, you can see how much you'll like to utilise for your purchase and which coins you want to purchase

2. Taking Bitcoins as example, click on it under "Market" and you can indicate your purchases in the right panel of the screen
3. You'll be asked to Confirm Order. Note that there will be transaction fees involved

4. And, that's it! You're now a proud owner of some coins, albeit 0.00xxxx amount.

If you are keen to kickstart your crypto journey, through a simple and user-friendly app, you can click on my referral link here. Upon your purchase/sales of USD$100 cryptocurrency, both of us will get USD$10 worth of bitcoin. 😊


Comments

  1. may i ask, is there a need for wallet etc?

    ReplyDelete
    Replies
    1. Nope, the exchange platform (Gemini) acts as your wallet. However, you can choose to withdraw out to your own cold wallet

      Delete

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