You may have heard your peers making 10x on an investment they made in crypto.
You may be wondering how to put your dollars to work in the cryptocurrency space.

Wonder no more.

Step 1: Open a Brokerage account

There are many brokerage accounts in Singapore, but the most commonly used ones are

1. Binance.com,

2. CoinHako,

3. Kucoin

4. Gemini.

There are so many, which should I choose?

I’d strongly Binance.com for the low fees and widest selection of coins. The reason why there are so many exchanges is because of.. competition! Everyone is vying for the tons of dollars that retail investors spend trading cryptocurrencies. But with the largest exchange in the world (by a far margin), you won’t go wrong with Binance.com.

Step 2: Funding fiat to your brokerage

There are many ways to convert fiat (your cash) into crypto. Here are some of the most commonly used ways in Singapore

(In order of recommendation)

1. Direct transfer of USD from local bank to Binance.com

2. Direct P2P exchange of currencies on Binance.com

3. Transfer SGD to Gemini and to buy a stablecoin (DAI)

4. Borrowing against stock positions on IBKR and performing option #1 on this list

Elaboration TBC