Hey guys welcome back to honey money sg, and this time is the time to actually introduce to you one of the most beginner friendly apps that you could buy crypto in singapore, and that is actually the crypto. com app, and I do believe that crypto.com app, especially you See so much advertising going on around it’s one of the most popular apps that you could buy crypto in singapore because of the user friendliness.
Also, the cheap fees, as well as the easy onboarding for beginners who are signing up for a crypto exchange account – and this is especially true for singapore residents, because you could just easily sign up with your sync pass, which is our singapore residence online government account. So in this video, let me show you how you could fund your crypto.com app with sgd, so that you can save on some fees and allow you to buy crypto in the cheapest manner and, to be more precise,.
there are actually three methods that you could use To fund your crypto. com app, namely credit card top part bank transfer, virus, shreds, x or x first in the past, or wire transfer into The bank account. But in this video I just want to focus on the credit card top up, because I believe there is actually a big opportunity for you to actually top up sgd without any restriction like the 30 000 limit.
That is limiting you in streets x. Now, as you know, my channel also has a lot of credit card content credit card saving hacks right, so I actually discovered this method from the online community and just want to share with you guys this information so essentially to top up via credit card using the Most cost efficient method, you’ll notice that crypto. com actually charges you 3.5 on credit card fees, which may not be quite good right in terms of cost efficiency, because 3. 5 percent, I think, is better used somewhere else, instead of paying credit card fees. So, in order to do this in the most cost, efficient manner i’ll require you to have three cards.
The three cards are uob absolute amex credit card grab, pay mastercard and the revolut card. Why do we need the uob absolute amex and that’s because it actually offers you 1. 7 unlimited cashback on almost any category that you could spend money on, and this is quite similar to the american true cashback card, Which gives you 1.5 cash back as well.
So if you prepare one card over the other, that’s fine, you could choose either of them, but i’ll go with the uob absolute amex card, because it gives like 0. 2 percent more cash back than the amex true cashback, and what I need you to do is, as Usual use this credit card to top up your grab, pay mastercard.
So for those of you who are new to grab grab actually has this prepaid wallet known as grab pay whereby you could top up credits using your credit card and most of the credit cards in singapore, actually don’t offer. You rewards on topping up to prepaid wallets, but actually uob absolute amex and the american express true cashback card will allow you to earn cashback on these top-ups. So that’s actually a very important criteria, because earning 1.7 and 1. 5 on this kind of credit card top-ups are actually quite good. So once you have top up your grab, pay credits do also apply for their grad pay.
Mastercard within the grab super ad and then once you have your great pay, mastercard, then you could use this grab pay mastercard to go ahead. Top up to your revolut card. Now revolut cup may come in visa or master depending on when you Applied for them, and why do we need revenue card is because revenue is actually a prepaid debit card whereby, if you top up funds into the revenue card, which you could then spend on merchants, Which charges foreign currency such as usd, and they will give you quite a favorable exchange rate without any dcc, dynamic currency conversion charges, and that is actually quite a big deal, because we are talking about dcc charges of around two to three percent.
On top of the unfavorable exchange rates offered by other banks, if you did not use the revolute card, so then, once you have used your grappling mastercard to top up to your revolut, then add your revolut card into your crypto. com exchange, app so that you can buy Crypto directly using your revolut card and most likely, if you charge it in usd, then you’ll get a favorable exchange rate, don’t charge it in sgd yeah charge it in usd because if you use crypto. com in-house fx conversion, then you may suffer a little bit of spread.
So revolut spread is actually smaller than that. So if all these sound confusing to you, let me just summarize it: okay, you need three cards: the uob, absolute amex card, the great pay mastercard And the revolute card, so you’ll use your absolute amex card top up to your grad pay to earn that 1. 7 percent Cash back then use your grab pay to top up your revenue, which does not earn any rewards and then link your revenue card into the crypto.com app so that you can buy crypto directly off your revolut card.
So all in all, you earn like 1. 7 cashback, with a favorable sgd to usd conversion rate, and the good thing about using revenue card on your crypto.com app is because it is recognized as a debit card instead of a credit card. So it will not suffer that 3. 5 percent credit card top-up fees, which is quite a good deal right, so just save on credit card fees while still earning cashback, while we top up to your crypto.com app yeah. So this was my finding when I was surfing around the online community for crypto. com exchange, and then I hope this knowledge is good use to you.
Now we will move on to the next step, which is buying crypto on the crypto. com app and one of the good things of using crypto. com is it probably has the best crypto pairs around in the crypto universe? Right we’re talking about the most number of pairs.
You can buy almost any token Or any coin on crypto. com app, which I think even for other competitors like the strong ones right. They may not have so much offering like some coins.
They don’t offer it on their exchange in terms of the spot rate right. They most likely have some kind of alternative like futures, instead of just having the coin itself. So I think that’s where crypto.com come in as a very strong competitor, where you can buy almost any coin that is within the crypto universe, and the other good point about crypto. com app is that it has zero fees right, zero buying fees, so you won’t incur any Kind of commission fees when you go and buy your crypto, the other good thing about using crypto. com app is they have this feature called crypto earn or crypto sticking? I’m sure you heard of it before right, whereby you just set aside some of your crypto lock up within their app and then they will pay you back in interest with the same type of coin right.
So if you stick some of their in-house tokens like cro, then you get a little bit of interest back. I think it’s like every week or every month, but i’ll cover this in a separate video right. This time I just Want to talk about funding, buying and selling cryptos on the crypto.com app okay, let’s go on to the last step, which is cashing out from the crypto. com app. So just now I mentioned that buying will have zero fees right.
It’s free, but cashing out will have incurred a 0. 4 percent of fee 0. 4 fees, although don’t sound like a lot but compared to other exchange, it may be slightly higher.
So that’s a bit unfavorable, but I think that’s justified because crypto. com don’t charge you buying fees. So if they manage to charge a bit of selling fees, I think that’s reasonable as well, and if you do want to transfer from your crypto token, to your fiat currency right, you do have to go through the streets x, which is another kind of application within The crypto.
com app, so you just have to sign up for a streetsex account and link it to your crypto. com app. Then all of that will take place and change your crypto token or cryptocoin into a fiat currency like sgd or usd.
So this 0. 4 percent fees also apply for transferring out crypto right. Let’s say if you have another platform whereby you want to earn higher interest by staking or landing, then it will still incur 0.4 Fees when you transfer it out so they’re already encouraging you to just put all your crypto into crypto. com app by offering you free trades For buying in right, because if you sell it out or you transfer it out, your income fees but buying does not incur fees so try to keep it in there, just stick it or land it within their platform.
I believe some of them have good rates as well and, of course, if you have watched this video and really want to start using crypto.com, then I do have a crypto. com referral link in my description below and my ping comment so do check that out. You’ll get 25 worth of cro tokens if you manage to stick at least 500 hd worth of cro tokens, so I hope that you have learned something of this crypto.com tutorial regarding funding, buying and selling.