Cryptocurrency is getting really hot these days… Not sure for the right or wrong reasons but literally everyone I know is asking me about it and some wants to get into the action (at trading or speculation). Not a healthy phenomenon but I guess I can contribute a little by sharing my knowledge on cryptocurrency and how to join in the action (also to be used as a blog post to reference when more people ask me about it since I am getting tired of answering the same questions again and again).
So what do I need to get started? It just take 3 steps to get started.
#1: First of all, you should set a budget. Well it is going to be an investment (a digital one) and you should set a budget on how much you can afford to lose. Like all high risk investments, you should not invest money that you cannot lose. You don’t want to burn your own fingers in the market after all.
#2: Secondly, you need to open an account with a cryptocurrency exchange. So using the budget you set at the first step, if your investment is less than 2 bitcoin in value, you can either open an account with Bithumb (Korean cryptocurrency exchange) or Binance (China cryptocurrency exchange) without the need to submit your passport photo or other identification for verification. You can just verify your account with a valid phone number and email address. Yes, that means you can have multiple accounts if you have multiple phone numbers and email addresses.
If you are planning to invest more than 2 bitcoin in value, you will need to submit identification documents for verification.
Binance is good since they only charge 0.1% for transaction fees. Bithumb charge 0.15% for transaction fees. However, they also charge 0.01 ether when you withdraw from your account. However, if you foresee yourself doing multiple transfers, then I would recommend you to use Gemini. Gemini charges a higher rate for transactions fees (maximum of 0.25%).
Binance – 0.1%
Bithumb – 0.15%
Gemini – 0.25%
(Do sign up for the accounts using my referral link for Binance and let me gain referral bonus!)
In addition, Binance and Bithumb has a wider range of cryptocurrencies. Unfortunately, you won’t be able to transfer money into Bithumb unless you have a Korean domestic account. You can’t transfer actual money (USD) into Binance either so that leaves you the only option of Gemini. You can transfer USD into Gemini account and buy bitcoin (BTC) or ethereum (ETH). Then you can transfer either BTC or ETH into Binance/Bithumb account to do the actual trading. In the cryptocurrency world, BTC and ETH are like fiat money so you will definitely need 1 of them to buy other cryptocurrencies. ETH is required for ICO (Initial Coin Offering)/TGE (Token Generation Events) while BTC is like the USD in cryptocurrency world.
Gemini only trade in BTC and ETH so for more action, you will need to transfer your BTC/ETH into Bithumb/Binance. I personally find the action more in Bithumb because Koreans are really into cryptocurrencies. So the swings between the highs and lows is more significant than in Binance and Gemini.
Variety of cryptocurrencies
Bithumb and Binance – Too many to choose from. Binance always list the newest tokens though, as compared to Bithumb.
Gemini: Only BTC and ETH.
#3: Now that you have the account and the budget, it is time to determine when is a good time to buy the cryptocurrencies. Personally I use a mixture of apps like Cryptowatch, Blockfolio and Delta apps. I use all of them to decide if I want to take a long or short positions in any cryptocurrencies. Reading up on the latest cryptocurrency developments and security breaches and how they arise is important too. Fortunately, I am already in the security sector so doing all these readings are kind of my kind of thing (on top of Korean dramas, hahaha).
Advantages of each app
Cryptowatch – for MACD and Volume analysis
Blockfolio – for the latest cryptocurrency news
Delta – for the most up to date cryptocurrency price and covers many exchanges
It takes some creativity to find new ways to earn money in the cryptocurrency world as well. Do share some of your tips if you do.
And… that’s it! I hope you don’t lose money but if you do, be prepared that you might lose all of them.
Categories: Articles, Japanese related, Overseas, Personal life, Travel
I finally finished blogging about my Japan trip back in June 2017. It’s my first time travelling in Japan, although it is not my first time landing in Japan. I took a transit flight in Narita Airport when I was flying to SFO back in 2015.
I didn’t blog all the places we visited because I didn’t upload those photos. I also visited Uniqlo near the Ramen Town as well, and of course Sapporo too. Sadly, I didn’t really take much photos because I was really tired in the trip (I fell sick for 1 month after I came back from the trip too!) and my camera body was spoilt too.
This probably is my shortest compilation of an overseas trip. I promise to be more hardworking in future. Haha.
- Farm Tomita
- Furano Ice Cream Shop
- Furano Cheese Factory
- Furano Pizza Factory
- Furano Winery and Chataeu Furano
- Furano Marche
Categories: Articles, Korean related, Overseas, Personal life, Travel
Okay, now that I have finished blogging about my Korea trip back in January 2016 (whoa, what a delay!). Here’s the list of blog posts for easy reference.
- The Famous Instagram Place – Common Ground
- The place where the Korean media stations are – Digital Media Station
- Dongdaemun Design Plaza
- University hopping – A collection of Korea universities
- Coffeesmith (filming location) and COEX (SM Museum)
- Food and shopping at Garosugil,
Sinsa and LINE store
- Train to Busan – Sakura’s edition
- Jagalchi Market
- Gwangan Bridge
- Gamcheon Culture Village
- Lotte Mall (Gwangbok Branch)
- BIFF Square
- Food, streets and shopping
Categories: Articles, Friendship, Overseas, Personal life, Pictures, Reviews, Travel, With my NEX
I went to Legoland with Huang Yin and Lay Lian during my Week of Rest last December. I have never been to Legoland so that is quite a refreshing trip. I have never been to Johor Bahru either so that’s my first trip to Johor Bahru too.
I took quite a number of photos and uploaded tons of it on my Instagram. So I shall let the photos do the talking now. Hehe.
We went during the Christmas season and they have this Christmas tree made of lego.
I got myself the gold and silver lego keychains and a ice mould for lego. Hehe.
I actually went to check the souvenir shops and see if I can find any musical themed lego items. Unfortunately, I couldn’t find any.
They have this special section called the Mini World which displays the famous buildings around the Asia (or was it Southeast Asia? I already forgot it…) The one for Singapore is huge. But the one for Malaysia is massive.
To be honest, I read about it and was quite excited to go there and take tons of photos at Mini World. Unfortunately, it is one of the last stations that we went at Legoland and we were running out of time since we have a 4ish pm bus to catch to go back to Singapore. So I had a mad rush to take as many photos as possible. But I think I missed out some exhibits though. Sigh.
And now for the non-Singapore ones…
There are random figurines around Legoland when we move from 1 station to another station too…
Oh, I also took 2 rides when I was at Legoland. Hehe.
Of course there are other more exciting rides which I will never take…
And lastly I saw this lovely wild flower (okay, probably it is not really wild) while on the way back to the bus stop for our bus back to Singapore…
Categories: Articles, Friendship, Personal life, Pictures, Reviews, Travel, With my NEX
I went Lee Kong Chian Natural History Museum with Zhe Wei during my Week of Rest since both of us got free admissions as NUS staff (him) and student (me). I didn’t really upload much photos from the trip though since some are a bit not-so-nice for social media. I love those seashells though. Hehe.
Will I go there again? Definitely since it is free for me. Will I pay to go there again? Probably not. It’s a nice place for kids and intrigue them with the wonders of science and nature though. But I’m not a kid, hahaha.