Tuesday 18 January 2022

Guide - Depositing USD Funds into FTX.com (Bankrupted)

FTX is undergoing Bankruptcy. Do not deposit. This post is not deleted for KM purpose. 

This post is meant as a step-by-step guide on how you can deposit USD funds in FTX.com. Depositing USD allows you to buy, sell and store cryptocurrencies such as Bitcoin, Ethereum, Matic (Polygon) and even dogecoin. FTX also allows you to lend your USD or cryptocurrencies while you HODL on to them. 

I have earned USD 26.51 interest from lending out USDT, RUNE, USD and SOL. Been using FTX since Sep, after MAS advisory for Binance to stop doing business in Singapore.

I use my DBS (POSB) bank account for depositing USD as there are no fees for same day overseas transfer. 

Let's start with the guide:

1. Deposit USD funds into FTX. Click the light blue circle icon and then select "Wallet".

2. Click on "Deposit".

3. Click on "Make a deposit".

4. Click on "Deposit" at the row under USD.       

5. Click on "Deposit Via Wire".

6. Indicate the amount of USD you want to deposit, then click on "Submit".

7. The wire instructions will be shown. Take note of your unique account identifier. You need this code for keying into your local bank when doing overseas remit.

8. Login to your POSB/DBS ibanking account. Select "Transfer" and click on "DBS Remit and Overseas Transfer".

9. Select United States. Key in how much you want to deposit. Then click "Start a new transfer". 

10. Key in the wire instructions details provided by FTX (Step 7). USD amount has to tally with Step 6.

IMPORTANT!! Your unique account identifier has to be keyed into “Payment details for Recipient”. Double check details before clicking next and submit the transaction. You can fill in as per what is in the images above. But do note this is accurate as of Dec 2021. You need to check the instructions given as the details may change.

Do note that you need to use your own bank account with your name that tallies to FTX. You cannot use a joint account as there will be another name tagged to that account which does not tally with FTX's data.

11. Wait for the USD to be deposited into your FTX. DBS typically clear the remit within minutes. Thereafter, processing is handed over to Silvergate and FTX. Deposit will be in FTX in about 1 to 2 working days (USA working timings). During my last deposit, I did the DBS remit at 8pm (SG timing) on Friday and received my funds in FTX at 8.10pm. It is that fast! 

Need a FTX referral link? You can use this link and get 5% discount off your trading fees. 

For other crypto links such as Gemini, Celsius or Blockfi, you can refer to this link.

This is not a buy call for anyone to go into cryptocurrency trading/investment.

Sunday 2 January 2022

My Investment Portfolio - SG (End Dec 2021)

 Transactions made:

- Added 2,000 units of Mapletree Logistic Trust via Preferential Offering at $1.84

I am glad that I got excess units from Mapletree Logistic Trust. The bulk of which was allotted to my partner's portfolio. 

I had a few standing orders in Poems, but none got fulfilled. Meanwhile, the news on MCT and MNACT merger is out. 

Dividends received* during the month: $911.72 (Mapletree North Asia Commercial Trust, ASTREA V S$315M3.85%B290620, Frasers Logistics & Commercial Trust, Old Chang Kee, Mapletree Logistics Trust, Mapletree Industrial Trust)

Total dividends received in 2021: $9,973.81

Average dividends per month: $831.15

Total Portfolio Market Value: $302,018.33

*Dividends are recognised after payment date. Average dividends per month is calculated by dividing the dividends received by 12 months regardless of the month. 
Portfolio excludes Singapore Savings Bonds, Foreign Stocks, Crypto and Stashaway