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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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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.

Categories
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

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!