Buying Cryptocurrencies using Gemini | Setup & Transfer USD to account

I have created a Gemini account as I do use Binance to buy cryptocurrencies and with MAS clamping down on the SGD payment options, I decided to switch to Gemini. I do also use Binance.sg and Coinhako but both incur a higher transaction fee and limited coins for Binance.sg

The creation of account was pretty simple, you can use my referral link if you like to create an account after reading/watching my video. So the creation of account is pretty simple as you can use My Info to allow them to take the required information. After which, Gemini will need to verify on their side. For me, verification is pretty simple but if they are taking too long, you can always contact their support through this form to expedite the process.

After setting up and getting validated, using your laptop, you can change your trading interface to Active Trader mainly because of the lower commission. The interface is more advanced looking but I like that you can set limit orders. The commission is 0.35% for ActiveTrader.

Do take a look at the video as I will show how you can switch it.

Depositing USD into account

My Investment Machine has a very detailed step by step method to add Gemini's bank account into your DBS/POSB overseas transfer list. Do remember to always double check the receipient's bank account as it might change time to time and also the comments to put as Gemini relies on that to determine which account to fund.

Transferring from DBS to Gemini

I used to thought that I need to do a currency exchange via my DBS Multi-currency account but it seems that DBS now allows overseas transfer from any account with competitive exchange rates. I tried with a small amount first and accidentally used my POSB everyday account to transfer SGD 100 to Gemini which they helped me to convert to US$73.49 and I received the funds in Gemini soon after.

Why I wanted to transfer USD instead of SGD is because there are much trading pairs available for USD than SGD where the trading pairs for SGD is only BTC or ETH.

Putting in your orders

So putting your orders in is easy if you have deposited USD in, just search for the cryptocurrency that is a trading pair example, BTC/USD or LINK/USD. You can set a limit order meaning what prices would you like to buy in at which to me is great.

I also show in the video on how you can make your purchases.

Why I opened a Gemini account

I have all along been using just Binance both SG and .com but just wanted to also have another exchange to buy from partly due to the MAS Alert list and SGD dominated payments are taken out. I loved the P2P function previously where we can use paynow or Google Pay but too bad. Gemini has been great so far for me and I haven't transfer out any holdings yet but I love that there are 10 free complementary withdrawals monthly. If you like to sign up for an account, you can use my referral link where as long as you trade $100 or more (or 100 USD equivalent of your domestic currency) within 30 days of commencing account sign-up, both accounts will be credited $10 (or 10 USD equivalent of your domestic currency) worth of bitcoin. For safety sake and just as a back up as well, I have also set up FTX. I will be covering that in the next video so do watch out for it.

You can also find me on

• Facebook SingaporeanTalksMoney 
• Instagram page SingaporeanTalksMoney
• Youtube SingaporeanTalksMoney

Affiliate links/Codes:

► How I Protect My Bitcoin using Ledger (20% discount code): Get your ledger from HERE (Using my affiliate link will help me where Ledger will pay a small incentive that's not from you but from them) - USD$25 discount coupon: THANKS-SHLRTVJ or THANKS-V35SSK5
► How I earn interest on my Crypto (Hodlnaut): https://app.hodlnaut.com/signup?r=_JF037Nb0 Get USD20 equivalent for your initial deposit of at least USD1000 on any of the supported asset by using my referral link
► Where I Buy my Cryptocurrencies: Gemini (Receive $10 of bitcoin after you buy or sell $100 after signing up using my link)
FTX: https://ftx.com/#a=41877278 (If a new user signs up with my referral code, I will receive 25%-40% of their fees, and they will get 5% of their fees back)
► Where I buy my stocks
FSMone Referral: P0364886
Tiger Brokers (Free stock and commission free trades, check out more here)
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
► Google Pay: v89ph61