Crypto Investment Notes

Table of Contents

Avoiding Scams

CNA Article: ‘Don’t see it as a get-rich-quick scheme’: How to avoid crypto scams and losses

Top Cryptocurrency Exchanges Ranked By Volume

Comparison Tables

Comparing platforms I use.

Funding

Pro tip:

The deposit bank account details of crypto exchanges change frequently. Always double check the account details before depositing fiat.

PlatformDepositWithdrawalLast updated
Binance.com❌ Transfer crypto over from other exchanges as Silvergate Bank has discontinued support for Binance USD deposits and withdrawals.have not triedJune 2021
CoinbasePurchase using credit/debit cardhave not triedMay 2021
CoinhakoOption 1: Deposit via bank transfer to Coinhako bank account

Option 2: Deposit via Xfers Direct Charge. Amount credited to SGD Coinhako wallet would be minus 0.55% fees charged by Xfers. E.g. $5 -> S4.97. Took about 5-10 minutes for money to arrive

have not triedMay 2021
Coinlist❌ Not sure how to deposit fiat funds. So far only transferred in crypto-currency from other platforms to fund account.have not triedMay 2021
GeminiFAST transfer via Xfers. No need to create any deposit request. No need to fill up anything in transaction comments. Funds arrived in a couple of minutes.have not triedMay 2021
LunoTop up via Xfers
need to top-up Xfers Digital Goods Wallet first. Not as convenient as platforms that support Xfers Direct Transfer
have not triedMay 2021
Tokenize XchangeXfers Direct Transfer. Transfer to the provided account number and key in phone number as transaction comment. No need to specify amount to deposit beforehand. Money arrived inside wallet within minutes.have not triedJune 2021
ZipmexSGD Fast Transactions
less than 5 minutes
SGD Fast Transactions
~1 hour
May 2021

Investing in alt tokens during their Initial Coin Offering (ICO)

Coinlist

CoinList is where you get access to the best new tokens before they list on other exchanges

Binance.com Launchpad

The Binance Launchpad token launch platform helps blockchain projects raise funds and increase their reach across the crypto ecosystem.

Binance.com Launchpool

Farm (earn) FREE tokens of new projects by staking existing portfolio at Binance.com.

Review of ICO projects

ICODrops

ICO Drops is an independent ICO (Token Sale) database and is not affiliated with any ICO project or company. Our Interest Level does not constitute financial or investment advice.

Use ICODrops to gauge the interest of upcoming ICO events and learn about the underlying technology of the altcoins.

Gökhan Aydal Youtube channel

I came across this Youtube channel which presents analysis of upcoming ICOs on Coinlist. The analyst speaks in Turkish but he provides subtitles in 10+ languages for his videos.

Pro tip: you can try increasing the playback speed to 1.5x if like me, you are reading the video subtitles only.

Video analysing the possible open price for the Mina Protocol token which started trading on 1 Jun 2021:

Checking prices of cryptocurrencies

Earning altcoins from learning about them

Hardware Wallets / Cold Wallets

Stealing from a cold wallet usually would require physical possession of or access to the cold wallet, as well as any associated PINs or passwords that must be used to access the funds.

Key points:

  • Most hardware wallets are cold wallets and live on devices that look like a small to medium-sized USB stick.
  • Hardware wallets are less convenient than hot wallets because they must be powered on and then connected to the internet.
  • For small amounts of crypto, a cold wallet isn’t necessary.

Ledger

I think Ledger should be the most well known hardware wallet in the market. You can buy, exchange and grow/stake your crypto securely with a Ledger hardware wallet, combined with the Ledger Live app.

Notable products from Ledger are:

For a comparison of features, visit this page.

Putting cryptocurrencies to work

Earning interest from cryptocurrency holdings

A common term used in the marketing material is annual percentage yield (APY). Annual percentage yield is a normalized representation of an interest rate, based on a compounding period of one year.

Gemini Earn (Gemini)

Gemini Earn is a lending program through which you may choose to lend your crypto to certain institutional borrowers and earn interest on your crypto.

Received email on 13 April 2021 that Gemini Earn is available in Singapore. Check out latest rates at the Gemini Earn FAQ.

Pros:

  • Earn interest every single day: starting at 4pm ET on the next business day after funds are moved to Gemini Earn.
  • Redeem at any time: with no penalties, and receive it at its current market value — plus the interest you’ve earned!

Cons:

  • Funds in Earn are not insured by Gemini
Basically this means it is an unsecured loaning out of assets.

Mining / Staking / Lending

My Crypto Projects Watchlist

Where to Seek Investment Ideas

Terms

TermMeaning
AirdropA marketing stunt that involves sending coins or tokens to wallet addresses in order to promote awareness of a new virtual currency. Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service, such as retweeting a post sent by the company issuing the currency.
BurningWhen cryptocurrency tokens or coins are burned, they are permanently removed from the circulating supply on purpose. It’s quite a normal transaction, which is typically carried out by the development team of the actual cryptocurrency.

The most common way to burn crypto tokens or coins is by sending them to what’s called an “eater address,” which still publicly shows the balance on the blockchain, but nobody can access them.

dAppsDecentralized applications (dApps) are digital applications or programs that exist and run on a blockchain or P2P network of computers instead of a single computer
FUDAn acronym that stands for “Fear, Uncertainty and Doubt”. It is a strategy to influence perception of certain cryptocurrencies or the cryptocurrency market in general by spreading negative, misleading or false information.
IDOAn initial DEX offering or IDO refers to the launching of a crypto-currency on a decentralized exchange (DEX). In an IDO, a blockchain project makes a coin’s first public debut on a DEX in order to raise funding from retail investors.
Proof of Stake (PoS)Consensus mechanism that states that a new block transaction can be validated according to how many coins the miner is staking. It means that the mining power is no longer based on mining computer rigs, but on the number of coins held by miners. PoS participants (nodes) will receive rewards (including block rewards and transaction fees) to incentivize their contributions.
StakingStaking is locking up a certain number of digital coins in the wallet of a Blockchain project for a specific period of time to earn rewards. The amount of rewards depends on your initial investment including the number of coins staked and staking duration.
XfersXfers is a Singapore-based payment processing gateway offering credit card processing and Internet banking transfers. XFERS PTE. LTD. is the holder of a Major Payment Institution license for e-money issuance under the new Payment Services Act. The electronically stored monetary value issued by XFERS PTE. LTD. is regarded as “e-money” under Singapore law.
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