What are Some of the Most Popular Crypto Brokerages?

To start trading, you will need to open a brokerage account. Here is a blog post on account opening: http://synapsetrading.com/2018/01/new-video-askspencer-anything-episode-2/

There are 2 types of accounts, and you will need one of each. The first is a “Fiat exchange” brokerage account, which allows you to change your money (SGD, USD) into the major coins like Bitcoin & Ethereum. If you only plan to hold these coins, then you will not need a “Coin Exchange” brokerage account.

To transfer your SGD to Coinhako, you need to go through xfers, as Coinhako does not have a SGD bank account. If you want to buy other coins, also known as Alt Coins, you will need to open a “Coin Exchange” brokerage account. This will allow you to exchange your major coins into Alt Coins, eg. Ripple, Monero, Litecoin, etc. Do note that you cannot fund these “Coin Exchange” brokerage accounts directly with cash, hence the need for “Fiat Exchange”. To make withdrawals, you will need to sequentially reverse the process.

List of Most Popular Crypto Brokerages:

 

How come I can’t find certain coins on my brokerage account?

To see which exchange has which coins, you can go to this website and click on the coin you wish to buy. https://coinmarketcap.com/coins/

Click on the “markets’ tab, and you can see which exchanges offer the coin.

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About the author

Spencer Li is a trader, investor and entrepreneur who currently manages his own portfolio of stocks, REITs, currencies, cryptocurrencies, properties, and businesses. As a former professional in private equity and proprietary funds, he has over 10 years of market experience, and has been featured on more than 20 occasions in the media. As an international speaker and avid globetrotter, he has travelled to over 50 countries to spread his knowledge.

 

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