Fam Wencong, Kenneth

My Diary

Bought My First Cryptocurrency In S’pore

Published: Saturday, July 11, 2020

Big headline news on cryptocurrency seems so long ago. But some people still think blockchain is the future.

An asset like stocks and bonds but digital, the majority of people still look at the topic with caution. I am too still a little wary and confused on the topic of cryptocurrency and blockchain but with some governments like Singapore being a little more friendly towards accepting it, and a lot of work and effort going into blockchain technology, I thought of giving it a try; investing a couple of hundred dollars in it.

My choice of cryptocurrency to invest in? Ethereum (Ether)! Although ethereum is a cryptocurrency, it is much more than a virtual coin. It’s also a blockchain platform allowing for smart contracts.

Trading crypto in Singapore was surprisingly not that difficult. A small stumbling block when I first tried to trade it. First wallet/exchange I found was Coinbase. They did not have to option to cash out your coins in Singapore. Luckily for me, I then came across Coinhako, one of a number of local companies working to make cryptocurrencies more accessible to us here in Singapore and in Asia in general. Like others who do this as well, Coinhako is a digital assets wallet service that aims to make buying and trading cryptocurrency easy and secure.