Bought S$6,000 worth of Bitcoin at ~USD34,600 level on 29 May through Gemini.
Since this is the first time I am buying Crypto, the buying process and experience need to be as simple as possible.
Why buy via Gemini?
1) It accept SGD as payment
Gemini allow you to buy Bitcoin (BTC) or Ether (ETH) in SGD.
This save alot of hassle for me as I do not have multicurrency bank account.
Note: You can chose to buy other coins such as BTC, ETH, Dogecoin, Bitcoin cash, Litecoin and etc in USD.
2) Low fees
By default when you sign up Gemini account, it will be in Basic mode (1.49% fee).
To enjoy 0.35% fee, you just need to go to Account -> Setting -> Trading interface and change it to Activetrader Advanced mode.
For info: Binance.sg fee is 0.6% & Coinhako is 1% (Only comparing exchange which accept local bank xfer).
3) No additional fees for deposit and withdraw
For Gemini & Binance.sg, both deposit and withdraw is free while Coinhako charges additional fees depending on your money source/destination.
If you know how to use FAST transfer, you will know how to do your deposit and withdraw.
For both my deposit via FAST into Gemini account, it reflected within 10mins.
4) Security measures
Anything that are connected to the Internet will have risks of getting hack.
Thus, we can only minimize the risk as a prevention.
Gemini claims that they keep majority of the crypto offline. For those small % of crypto that are keep online, it is insured too.
You can read more of their Security measures here.
For beginners like me, I do not want to buy cold wallet such as Ledger or Trezor for a start.
If in the future I were to get my own cold wallet, Gemini provide 10 free crypto withdraws per month for FREE.
Click on my ref link here to sign up Gemini and both of us will receive $10 worth of bitcoin when you buy / sell $100 or more within 30 days of account creation.
