Skip to main content

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 ðŸ˜Š) 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. ðŸ˜Š


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

Post a Comment

No rude messages please. Unkind messages and spams will be blocked and deleted.

Popular posts from this blog

I finally cross $700k networth, after 1 year 4 months

I wondered how I should kickstart this post - should I be positive or negative about this? After 1 year 4 months, I finally crossed $700k in networth - returning back to where I've been at, back in Dec 2021.  I am disappointed.  For the past many years, I've always been growing my networth, at around $100-$150k/year. I had big plans to hit a net worth of $850k by December 2022, but the universe had other plans for me. Instead, I only managed to reach $646k, leaving me with a $204k gap to my target.  Ever since I became more aggressive in my "investment" portfolio in 2021, being sucked by greed to deploy most of my cash into stocks and crypto, I fell heavily, along with the crashes. Crypto wiped out 5 digits savings, so did the stock market.  To be honest, ever since the crashes and a bad hit to my net worth, I actually didn't do anything special to improve. I didn't make drastic spending cuts, I didn't stop my holidays, I didn't continue investing (no

First CPF top up in Jan 2023 and tax relief concerns

Detailing my yearly CPF top-up and thoughts.  This is my 8th year of top-up. 1. Top-up $2.5k to Medisave via Paynow Did a $2,500 top up to my Medisave, bringing it to 2023 MA ceiling of $68,500. Done the same for my husband as well. 2. On hold - To top up $5.5k to SA or no? Contrary to the past where I top-up at the start of the year, I have decided to hold off the top-up. A) Running out of cash Firstly, I'm running out of cash. I'm berating myself for degrading to the past where I look forward to my monthly income for cashflow. So I can build up my $100k capital in savings account again, given the current high interest environment.  B) Hitting FRS soon = no tax relief Secondly, I'm concerned about reaching FRS too soon.  The FRS this year is $198,800. I'm now sitting on ~$157k SA which means $41,800 away from reaching this ceiling.  I know some people encouraged maxing this out ASAP. But, as I've crossed 6 digits annual income, maxing FRS soon meant lower tax relie

Starting 2023 with extra $9,979.20

Happy 2023~! I woke up feeling not very positive. It seems like I've brought forward my 2022 negative thoughts along. I ought to be more optimistic! Anyway, my best way of welcoming the new year is to count the new inflow of $ and here's my CPF interest for 2022: Have you check your CPF interest yet?