Entering the world of cryptocurrency can feel overwhelming, especially for someone rooted in traditional investing. As someone who has spent years focused on stocks and conventional assets, I’ll admit—my journey into digital currencies began with hesitation. But after three consecutive years of listing crypto investing as a New Year’s resolution, I finally took action in 2025. This is the story of my first real step: setting up an account on Gemini and making my inaugural cryptocurrency purchase using Singapore dollars (SGD).
This review walks you through my hands-on experience with Gemini, from account setup to depositing funds and executing trades—all in SGD. Whether you're a cautious beginner or simply curious about entering the crypto space through a trusted platform, this guide offers practical insights into how Gemini makes the process smooth, secure, and accessible.
👉 Discover how easy it is to start trading crypto with SGD today.
Starting Small: Why I Chose Cryptocurrency in 2025
Let’s be honest—I know very little about blockchain technology, mining, or decentralized finance. But lack of deep knowledge didn’t stop me from allocating 5% of my investment portfolio to cryptocurrency. This isn’t driven by FOMO (fear of missing out), but rather a long-term conviction that digital assets are here to stay.
Could I have started earlier? Absolutely. But as my old junior college teacher once said: “Well, better late than never.” That phrase has become my personal mantra. While I may have missed early bull runs, I believe strategic, disciplined entry now still holds long-term potential.
Allocating just 5% allows me to participate without risking financial stability. It's an amount I’m comfortable potentially losing—but also one that could meaningfully impact my portfolio if the asset class continues evolving.
Why I Picked Gemini for My First Crypto Trade
With so many exchanges available, choosing one can be paralyzing. For me, Gemini stood out—not because I conducted an exhaustive comparison, but because trusted financial blogs and user reviews consistently highlighted its strengths:
- Strong security track record: Gemini has never been hacked.
- User-friendly interface: Both the mobile app and desktop site are clean, intuitive, and beginner-friendly.
- Support for SGD transactions: You can deposit, withdraw, and trade using Singapore dollars via FAST transfers or debit cards.
- Comprehensive support resources: Their FAQ section answered nearly all my questions before I even considered contacting customer service.
These factors made Gemini a low-friction entry point into crypto trading—especially valuable when stepping outside your comfort zone.
How to Open a Gemini Account from Singapore
Despite being headquartered in New York, Gemini supports international users, including those in Singapore. The account registration process was surprisingly seamless:
- Visit the Gemini website and begin sign-up.
- Use MyInfo (Singapore’s national digital identity service) to auto-fill personal details—this speeds up verification significantly.
- Upload a government-issued photo ID (e.g., NRIC or passport).
- Complete identity verification steps.
My account was approved within minutes. No lengthy waiting periods, no confusing documentation—just a smooth onboarding experience.
Once logged in, I immediately tested fund transfers to ensure everything worked as expected.
Depositing and Withdrawing SGD on Gemini
Before investing real money, I always test new platforms with a small transaction. Here’s how I transferred SGD into my Gemini account:
Step-by-Step Guide to Linking Your Bank Account
- Add Payment Method → Select “Bank Account” under Payment Methods.
- Choose SGD as your funding currency.
- Enter your bank account details (must be in your name).
- You’ll receive an SMS from XFERS confirming the link request.
- Log in to your online banking portal and complete the transfer using the reference code (usually your mobile number).
⚠️ Important: For first-time users, you must add Xfers Pte Ltd as a payee in your bank system.
Many users fail at step 5—don’t skip it! From my experience:
- A $1 deposit on a business day was instantaneous.
- The withdrawal took one business day, which is perfectly acceptable.
Gemini also enforces daily deposit and withdrawal limits based on your verification level—something to keep in mind as you scale up.
👉 Learn how to securely transfer SGD for crypto trading in minutes.
Understanding Fees on Gemini
Cost efficiency matters—especially for small investors. Here’s what you need to know:
- Transaction fees: Range from 1.49% per trade for standard users.
- Smaller trades (under USD $10–$50) suffer disproportionately high fees—up to 10% of value—so avoid micro-investments.
- Active traders can reduce fees to as low as 0.35% by switching to the Active Trader pricing tier.
While I can’t confirm if Gemini is the cheapest exchange in Singapore, their fee structure feels fair for beginners prioritizing ease and security over marginal cost savings.
Also worth noting: When storing crypto on Gemini, your assets are held in hot wallets (connected to the internet). However, community feedback clarified that most of Gemini’s reserves are kept in cold storage, with insurance coverage protecting against breaches—an important reassurance for new investors.
Why Invest in Cryptocurrency? A Personal Reflection
Growing up, I often wondered why my parents didn’t invest during Singapore’s economic boom. They owned no stocks, and their HDB flat barely kept pace with inflation. Now, as a father myself, I don’t want my daughter asking me one day: “Daddy, why didn’t you invest in cryptocurrency?”
That fear—not of loss, but of regret—motivated my decision. By allocating just 5%, I balance risk with opportunity. Even if the market crashes, the impact is limited. But if crypto becomes mainstream over the next decade, that small stake could grow substantially.
Bitcoin, often called the “digital gold” or reserve currency of crypto, was my first purchase. It felt like the safest entry point into this volatile space.
Frequently Asked Questions (FAQ)
Q: Can Singaporeans use Gemini legally?
A: Yes, Gemini complies with global regulations and allows Singapore residents to sign up and trade using SGD.
Q: Is Gemini safe for beginners?
A: Absolutely. Its strong security history, intuitive design, and SGD support make it ideal for newcomers.
Q: How long do deposits take via FAST transfer?
A: Most deposits are instant during business hours.
Q: Are there hidden fees on Gemini?
A: No major hidden fees. You’ll see all charges before confirming a trade.
Q: Can I transfer crypto from Gemini to a personal wallet?
A: Yes—you can withdraw to external wallets for enhanced security.
Q: Should I keep crypto on Gemini or move it to cold storage?
A: For larger holdings, use a cold wallet. For small amounts and active trading, Gemini’s insured storage is acceptable.
👉 Secure your crypto future with a trusted global exchange.
Final Thoughts: A Confident First Step
My experience with Gemini has been overwhelmingly positive. The platform removed much of the friction and fear associated with entering cryptocurrency trading—especially for someone like me who values simplicity and security.
If you’ve been hesitating to start your crypto journey because of complexity or uncertainty, Gemini offers a clear path forward. Start small, learn continuously, and build confidence over time.
Remember: It’s not about timing the market perfectly—it’s about starting with intention.
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