How to start your cryptocurrency investment journey in Singapore
So, you've finally decided to start investing in cryptocurrencies and you are based in Singapore. How do you go about it? This are just my own personal recommendations (since I am doing them myself). Okay, let's start......
Step 1: Open a Bitcoin wallet service. I personally use Coinhako. What I like about them is they also offer Ethereum on their website. So if you are only interested in buying Ethereum and Bitcoin, you do not even have to sign up for any exchange. The only issue I have with them is that they do not offer limit orders (buying Bitcoin/ Ethereum at a set price and when Bitcoin/Ethereum hits the specified price, the order gets filled and you get your Bitcoin/Ethereum). If you are interested in opening an account with them, I'll be grateful if you use the referral link below:
https://www.coinhako.com/referrals/sign_up/JONAHHUANG_651497
Both you and I get a small reward for the first trade you make with them. Win-win!
Step 2: Open an account with an exchange. This exchange will be where you can trade your Bitcoin with other cryptocurrencies available at the exchange. I personally have and use 2 exchanges. The reason is that one exchange might offer coins which the other doesn't. Here are the links to both of them:
Poloniex: https://poloniex.com/
Bittrex: https://bittrex.com/
I have used both of them for a while now. So far, I prefer Bittrex. I've not experienced any issues with them. Poloniex on the other hand, can be slow at times. Again, both exchanges may offer different coins so I'll recommend opening them both so you have a higher chance of finding the coin you want to buy. There is another major player out there and it is Kraken (https://www.kraken.com/).
Please ensure you sign up for the 2FA authentication password as soon as you open the account. While nothing in life is foolproof. Having the 2FA adds a layer of protection to your account. Also consider a good internet protection software if you can. I tend to be more cautious so I got Bitdefender the moment my PC (used mainly for investments) went online. With all the vices out there, I don't think one can ever be too careful.
There you have it. These are the basic tools you need to have to start investing in cryptos. Hope this helps!
