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Uncategorized

Stake Solana to earn 6% APY from FTX exchange

With FTX – one of the safest and most prominent crypto derivatives exchanges around, you can trade for Solana tokens using USD, USDT and Bitcoin. Once you bought SOL tokens, you can also stake them to receive 6% APY. I have staked FTT tokens for free withdrawals from the platform earlier, today is my first day staking Solana in FTX.

If you want to sign up to FTX Exchange, you’ll get 5% off your trading fees when using my referral code: https://ftx.com/referrals#a=48253502

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Trading Fees

Stake 25 FTT and get $0 maker fees at FTX

It’s real! hahaha! I staked 25 FTX tokens in FTX exchange, and there’s no maker fees being charged on all my purchases and selling! I’m loving FTX exchange, however coins such as Avalanche, Polkadot, Cardano, Luna are not available for purchase in FTX. However, it is still a good place if you trade cryptocurrency often.

Use my referral code and receive 5% discount on all your trades

 https://ftx.com/#a=48253502

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Cryptocurrency Singapore

Tharman said ‘There is a place for crypto in Singapore if regulated’…

Below is a screenshot taken from the Business Times on 28 October 2021. Tharman agreed that the fintech have potential to help large underserved markets and segments of populations that struggled to get unsecured financing, lowering cost and improving banks’ financial services. He does not see cryptocurrencies as legal tender due to the volatility and speculative nature.

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Uncategorized

I’m now a Shibu Inu fan

Just bought 400,000 Shibu Inu coins at 0.00004120 USD due to the hype. Is it human pscychology? Community interest? Hope it go to the moon.. haha.

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Trading Fees

Trading Fees for Stocks and Cryptocurrencies

In the past 20 years, I used Lim&Tan broker to trade stocks. I used Lim&Tan as they provide NTUC Linkpoints on the commission amount, which makes it really attractive during times when I trade almost everyday. I have so much linkpoints that I can use them to buy a basket of goods when I shop at NTUC.

Enters Moomoo and Tiger in 2021, which provides very low cost trading platform. However, we must always fund our Moomoo and Tiger accounts first before we can start trading, and the shares traded are not held under our names, unlike Lim & Tan Broker. However, I enjoy the low commission and trading fees offered by Moomoo and Tiger, and would put some money in both platforms for trading opportunities.

Comparison of fees (MooMoo, Tiger, Lim&Tan)

BrokerMooMooTigerLim&Tan
Comm0.03% of trade value (min. SGD 0.99 per trade)0.04% of trade value (no minimum)0.28% (minimum $25)
Platform Fee0.03% of trade value (min. SGD 1.50 per trade)0.04% of trade value (no minimum)
Sourcehttps://support.futusg.com/en-us/topic118https://www.tigerbrokers.com.sg/commissions/fees?_casValidated=true#singapore_stockshttps://www.limtan.com.sg/

Then enters cryptocurrencies platform, I am using 3 currently, which are Gemini, FTX and Crypto.com Exchange.

ExchangeGeminiFTXCrypto.com Exchange
Fees0.250% (Maker)
0.35% (Taker)
Based on Active Trader Platform
0.020%(Maker)
0.070%(Taker)
0.4%
Sourcehttps://www.gemini.com/feeshttps://help.ftx.com/hc/en-us/articles/360024479432-Feeshttps://crypto.com/exchange/document/fees-limits

As a newbie in crypto, the volatility of the cryptomarket presents some excitement for me, but I like the HK and SG stock market better for now. Let’s observe a few more months.

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Get Started

Guide to Cryptocurrencies

Singapore’s Straits Times runs a pictorial guide on cryptocurrencies today, it is useful for newbies.

The image below is taken from The Straits Times, dated 16 October 2021, sources: The New York Times, Investopedia, AFP, Coinmarketcap, Bank of America, Straits Times Graphics by Chng Choon Hiong.

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Get Started

Transfer USD to Crypto.com via DBS Same-Day Remit

Ftx.com is good, then I realised that FTX does not sell 1 coin which I wanted, while Crypto.com has it. Thus, I signed up for Crypto.com account and fund the Crypto.com wallet with USD from my POSB Savings bank account which has my SGD. At the time of writing, Crypto.com has a feature where the USD I transferred from DBS would be converted to USDC at a 1:1 ratio, minimum amount required is 500 USDC.

Note: You must first verify your DBS bank If you have not verify your DBS bank, please do so before proceeding. It takes about 3 business days for your DBS bank to be verified.

Note: I am using the Crypto.com EXCHANGE for this purpose. Crypto.com has an app, and also the desktop web version of the exchange. Usually I prefer to use the desktop version of all the different exchanges. I use the app only to check prices..

Below outlines the process.

Step 1: Login to Crypto.com EXCHANGE using desktop computer, click on the ‘Transfer Now’ button beside the USDC Bank transfer banner. You must first verify your DBS bank If you have not verify your DBS bank, please do so before proceeding. It takes about 3 business days for your DBS bank to be verified. Select ‘DBS bank’ as the bank you wish to transfer USD from.
Step 2: Take note of your Unique Code. This code is used to identify you when transferring USD. Take note of all the other bank information, you need to enter all these information into the DBS bank platform.
Step 3: Login to your DBS/POSB platform. Click ‘Transfer’, then ‘DBS Remit and Overseas Transfer’.
Step 4: Enter Recipient’s Full Name as ‘Circle Internet Financial Inc’ for Crypto.com. Country as ‘United States’, Recipient Gets ‘USD’. You would see that Benefits includes ‘Zero fee’ and ‘Same Day Transfer.
Step 5: Enter Recipient’s Address. Select ‘Other Banks in United States’.
Step 6: Click ‘Find SWIFT Code’. Select ‘SILVERGATE BANK’ with the SWIFT CODE SIVGUS66 (Refer to the information provided by Crypto.com at Step 2).
Step 7: Enter Recipient’s Account Number (Refer to the information provided by Crypto.com at Step 2).
Step 8: Click ‘Finish’ to complete adding Crypto.com as your New USD Recipient.
Step 9: Click ‘Transfer’ tab again, and select ‘DBS Remit and Overseas Transfer’. You would see ‘Circle Internet Financial Inc’ as one of the recipient at the left side of the screen. Click the button ‘Transfer’ next to ‘Circle Internet Financial Inc’. Decide the amount you wish to remit across to Crypto.com, minimum amount is 500USD. Enter the amount in SGD, the USD amount would be generated by the system.
Step 10: Take note of your Unique Code.
Step 11. Input this ‘Unique Code’ into the ‘Payment Details for Recipient’.
Step 12: Check every detail again. Make sure the details are correct to avoid any delay in the remittance process.
Step 13: Click ‘Submit’ button to confirm.
Step 14: Yay! Your transaction has been submitted for processing.
After 27 hours, I received an email from Crypto.com confirming that they received the USD i remitted.

Yay! I can now wait for my ideal time to buy the crypto coins I wanted.

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Get Started

Transfer USD to FTX via DBS Same-Day Remit

FTX is one of the exchanges I use to buy crypto coins. I transferred USD100 in the morning using DBS Same Day remit, and by 8pm on the same day, I received a confirmation from FTX that they received the USD.

Below are the screengrabs I took for the entire process of funds transfer.

There are 2 process you need to do. First, it is to add FTX as a USD recipient in the DBS platform. Secondly, transfer the SGD amount, which DBS would then convert to USD for you, and remit to FTX.

Step 1: Sign into FTX.com, go to the wallet tab. On the row ‘USD(USD)’, click ‘Deposit’ and you would see this screen. Select ‘DEPOSIT WITH WIRE’.
Step 2: Take note of the Account Identifier assigned to you. In my case, it is 8-digit number.
Step 3: Login to POSB/DBS app, select ‘DBS Remit and Overseas Transfer’.
Step 4: First, you would need FTX as a New Recipient. Key in the info provided by FTX (in Step 2). In my case, FTX’s Full Name is ‘North Dimension Inc’, Country is “USA’, Recipient gets ‘USD’.
Step 5: Key in the information required. For Recipient Bank, choose ‘Other Banks in United States’.
Step 6: You would need to ‘Find SWIFT Code’. In my case, Step 2 has advised that I choose the one with ‘SIVGUS66’. Click ‘ Select’.
Step 7: Enter the Recipient’s Account Number.
Step 8: Click ‘Finish’ to finalise the details. You have now added FTX(North Dimension Inc’ as Recipient for the USD.
Step 9: Click the ‘Transfer’ tab again at the top of the DBS app, and now you would see ‘North Dimension Inc’ as ‘Overseas Recipient’. Click the ‘Transfer’ tab beside the word ‘North Dimenison Inc’.
Step 10: Select the amount you wish to transfer in SGD, and the quote in USD would auto-generate. Note that it is Zero fee, and same day transfer!
Step 11: In ‘Payment Details for the Recipient’, remember to input your account identifier (see picture in Step 2 or below). Click ‘Next’ to confirm the transaction.
Step 12: Go to the FTX screen. FTX requires you to input the amount of USD transferred, and ‘Select’ ‘I have included my account identifier in my wire transfer.’.
Step 13: You would receive a confirmation email from DBS of the transfer about 5 minutes later.
Step 14: I received a confirmation from FTX around 8pm on the same day to inform that the USD is in my USD wallet.

Yay! I can start buying coins now! Meow meow!

Categories
Setting Up Accounts

Earn Free Crypto while you Learn Crypto

Coinbase is one of the first few accounts I signed up with after hearing many people in Singapore talk about it. I love the clean user interface, and they gave you free Cryptos when you learn about the different coins. Each topic is explained in nice graphics and around 5 minutes each. The learning experience is fun, and here are the coins I earn. Pray pray that the value of these coins will rise over the years.

Use my referral link to start earning cryptos now:  https://www.coinbase.com/join/chan_fu45

Categories
Setting Up Accounts

Transfer USD to overseas via DBS same-day remit at ZERO fee

I love this service offered by DBS bank. It allows me to convert Singapore Dollars to US Dollars and transfer at ZERO fee to crypto.com, ftx exchange directly so that I can buy the coins I wanted. DBS’s exchange rates are reasonable, most importantly it provides the convenience I wanted. Usually I would do all my funds transfer in the morning even though the DBS’s cut-off time for USD states 5pm. (This post not sponsored by DBS ya..)

And by 8pm on the same day, I received a confirmation email from FTX that my transfer is received and banked into my wallet. Yippee! I can start buying coins!