Cryptocurrency has been the latest talk in town. Recently, I have been reading up on Bitcoin, Ethereum and Litecoin. There are many news how Bitcoin soar pass 18K and higher. Typing “1 BTC to SGD” gives you the above exchange rate. 1 Bitcoin is equivalent to SGD$19,249.98.
I was wondering how we can purchase them in Singapore. After googling, I found an exchange called Coinbase that lets you buy and sell cryptocurrency.
I also found out there are also other financial bloggers that uses Coinbase and I decided to try open an account.
Navigate to the sign up page. Enter your first name, last name, email address, password and declare that you are not a robot.
You will receive a confirmation email from Coinbase shortly.
Click on the “Verify Email Address” button in the email that you receive.
After you have clicked the “Verify Email Address” button, it will direct you to the Coinbase website and your email will be verified. On the verification page, enter your mobile phone number.
Coinbase will send you an SMS with a verification code. Enter the verification code in the text box provided.
Your Coinbase account is now open! However there are two more steps that you need to do before you can Buy or Sell Bitcoin, Ethereum or Litecoin.
Click on “Verify your identify”. This will prompt you to upload your passport, driver’s license or Photo ID. For me, I chose to upload my driver’s license. After you have uploaded either of the above identification, wait for five minutes. Your identification should be verified by then.
Now, we come to the payment part. Click “Add a payment method”. For me, I chose to pay by Credit Card for the benefit of convenience. Do note that there is a fee of 3.99% involved when you pay by Credit Card.
After you enter your credit card details, two transactions will be charge to your credit card immediately. You will need to login to your online banking and check for the two transactions.
Enter the cents for the two transactions and click on “Verify your Card”.
That’s it, you are ready to jump onto the cryptocurrency wagon! If you sign up via my referral link (Coinbase), you and me will get SGD13 of free bitcoin!
However, please do note that investing in cryptocurrency is highly risky and volatile. In fact I do not even consider it as an investment but rather gambling or in comparison with buying 4D or Toto.