15 Aug How to deposit SGD to Gemini
UPDATE (Jan 26, 2021)
Please note that Gemini now supports integrated with Xfers to allow direct FAST deposit transfers and withdrawals of SGD via local banks. Do follow their step-by-step guide HERE:
Latest from Gemini staff (Jan 12):
Disclaimer: This is the latest info from Gemini (Click image to enlarge!). For those of you who are using this, would appreciate if you can confirm whether it works in the comments below, thanks!
While CoinHako and Coinbase are convenient and easy to use, people are looking for a cheaper alternative to buy Bitcoin/ETH with SGD. This is a guide for people who are looking to buy Bitcoin at a lower price.
Gemini is an exchange started by the Winklevoss twins. Account opening and verification takes around 2 days if you send in proper documentation.
Adding bank account to Gemini
The first step is to add a bank account to Gemini. Personally I used the USD(Bank Transfer).
You will then receive an email with the instructions on how to transfer to their Gemini account.
Transferring SGD to Gemini
The best way to transfer to Gemini is to use DBS Remit, $0 fees and same day transfer (Disclaimer: I am not an employee of DBS).
For the fields:
Recipient name: “Gemini Trust Company LLC”
Address: “600 Third Avenue, 2nd Fl
New York, NY 10016
United States Of America”
Recipient bank: Choose “Other banks in United States”, and the Swift Code is “PCBBUS66”
Recipient account number: 1000808012
Clearing code: “322286803”
Please remember to include the unique letters assigned to your account under “memo” or “instructions”. For timeline, I deposited SGD before 2pm, and I got the money in my Gemini account at around 11.30pm.
If you are looking for a fast way to buy Bitcoin/ETH with SGD, you can refer to my previous article here.
*Disclaimer: Please verify all the fields in the TT before making the transfer. We will not take responsibilities if the information for Gemini changed.
Comparision of Coinhako vs Gemini
Coinhako – 0.9% trading fees (use code “COINGECKO to reduce it to 0.7%) + FX
Gemini – 0% remittance fees + DBS FX + 0.25% trading fees
*We are the Singapore distributor for Ledger Nano S and Trezor, please check out our product listing at https://pennywise.sg/shop/. We also offer crypto crash course for anyone who wants to get up to speed with crypto.