With Bitcoin and cryptocurrency cementing themselves as solid investments across the globe, more people are starting to recognise this digital token as a potent way to grow their wealth and hedge against inflationary pressures.
That said, it can be quite overwhelming navigating the crypto space as a complete newcomer. From the plethora of crypto exchange platforms to the squabbles spouted on social media, it can be difficult to cut through the noise and realise the true potential of cryptocurrency.
That said, it’s not impossible to invest in crypto in this day and age and find great success while doing so. This is especially true if you’re planning to start your investment journey with trusted crypto trading websites like Independent Reserve.
If you’re keen to get started, then you’re in the right place. This article will highlight to you some guided tips on how you can safely and securely start your Bitcoin investment journey with Independent Reserve in Singapore
Let’s get started!
Why Choose Independent Reserve as a Crypto Exchange Platform?
Independent Reserve, one of the safest places to buy bitcoin in Singapore, is a top choice for many locals who want to get started in crypto investing
This can be attributed to several reasons.
- MAS license: This crypto exchange is the first platform ever licensed under MAS, an agency that oversees financial protection and compliance in Singapore.
- Large coin selection: Many popular and emerging cryptocurrencies are up for trade on this platform.
- Transparent operations: This platform has a clear fee structure to ensure you know what you’re paying for from the start.
- Robust security measures: High-level ISO 27001 certification, ensuring that customer data and assets are protected from cyberthreats
- Simple and advanced interface: The trading interface and UI are good for both beginners and seasoned traders alike
As seen, there’s more than enough evidence to see why Independent Reserve is fantastic for facilitating crypto transfers. And if you want to get started with your crypto trading journey, doing so with this exchange platform is very straightforward.
How to Invest With Independent Reserve
1. Lock in Your Investment Goals
Before you buy Bitcoin in Independent Reserve (or any other crypto trading platform, for that matter), it’s crucial to have a clear vision of your investment goals
This first starts by evaluating the motivation of the move inwardly. Is your Bitcoin investment part of a grand wealth-building strategy? Are you in the market to get rich quickly in the short term?
Clarify your objectives before you deposit money into the crypto website. The success of your investment approach will not only rely on your chosen platform, but it will also hinge on your overarching strategy.
Once your objectives are clearly laid out, you can make more informed decisions that support your goals. For instance, you may want to grow your money for your child’s tuition. Or perhaps you’d want the crypto investment to serve as capital for your future retirement
In any case, having a clear goal makes following through with your investments a much easier thing to do. This, in turn, makes your decision to invest in crypto an undeniably value-adding decision to your financial health.
2. Create an Independent Reserve Account
Picking the right crypto platform to conduct crypto-related activities is a crucial decision every Singaporean investor must make. That said, there are a couple of standout crypto exchange platforms that are considered safe and reliable, with one of them being Independent Reserve.
What makes this crypto exchange a credible one is the fact that it’s one of the few licensed exchanges recognised by the Monetary Authority of Singapore
The road to getting licensed is a tough one for crypto platform operators looking to operate legally in Singapore. Attaining one confirms that the crypto platform has met the rigorous set of criteria imposed by this government agency.
Besides the website’s trustworthiness, creating an account in Independent Reserve is a simple process. You just have to go to the mobile app or desktop website and click Create Account
Then, you must choose what type of account you want to create, then fill in the personal information as requested. This will include your email, full name, and other pertinent information about yourself.
You’ll also be tasked with providing proof of identity and address to comply with Singapore’s Know Your Customer (KYC) requirements. Once you’ve accomplished that and submitted your information, it won’t take long until your account will gain approval to buy and sell cryptocurrencies like Bitcoin.
An Alternative for High-Volume Traders
If you’re planning to transact in high volumes, then an Over-the-Counter (OTC) account may be more suitable for you. This service is tailored for high-net-worth individuals and institutional investors who engage mostly in large trades
This service is a great way to avoid price fluctuations that may impact the price of Bitcoin and other cryptocurrencies. That said, in order to be eligible for this account type, you’ll need to contact a broker within the company via call, and they’ll walk you through the application process.
Once you’ve gained approval and created an account, you can contact a dedicated broker every time you want to purchase or sell a cryptocurrency. This allows you to bypass the standard buy and sell process and make your experience feel more premium.
3. Deposit Singapore Dollars
Once you’ve gained approval for account creation, the next step is to put some money into your account. The purpose of this funding is, of course, to allow you to purchase Bitcoin within the platform.
Independent Reserve allows users to access multiple deposit methods, with some popular payment facilitators being FAST and PayNow. Before anything else, you should link your bank account or credit card to Independent Reserve
To deposit, simply click “ACCOUNTS”, find the crypto you want to deposit in (in this case, Bitcoin/BTC), then click Deposit
Use any of the linked payment methods to your liking, then fill in the necessary information like the beneficiary address and the amount you intend to send. Follow any prompts given to you by the bank. Then, once done, click “Transfer” on the Independent Reserve page to finish the process.
4. Place Your Order for Bitcoin
Once you have SGD loaded into your account, you can finally get in on the positive price action of Bitcoin and other cryptocurrencies
This part is simple. You simply have to click the “Buy/Sell” section, select Bitcoin (BTC) as your chosen cryptocurrency, and enter the amount you wish to purchase. If the price matches the ongoing rate, then you can receive the Bitcoin instantly.
You can also place a limit order as an alternative if you want to purchase Bitcoin at a certain price that the market hasn’t reached yet. Whichever option you pick, it’s vital that you review the transaction details to ensure that you’re not overlooking any minor details
Once the transaction has taken place, it won’t be reversible. Your newly purchased Bitcoin will be in the platform’s wallet.
5. Manage Your Crypto Portfolio
Once you have Bitcoin credited into your account, you now have full rein on what you want to do with it
You can choose to keep it in the platform’s wallet for convenience’s sake. This is considered the less safe option, but it’s still relatively safe considering that Independent Reserve is a regulated and licensed crypto platform with robust security features.
Another option is to transfer the funds (or a portion of the funds) to another wallet, either a cold or a hardware wallet. This gives you complete authority over your funds and will leave you with very little risk of cyber theft and other risks.
We hope this article has informed you on using Independent Reserve responsibly. All the best!
