A Beginners Guide to Cryptocurrencies

Combining the world “cryptic” and “currency” sounds a little bit strange. Encrypting a currency seems like a counterproductive activity because you can’t spend it if no one can recognize it.

However, thriving models of cryptocurrency show the digital currency markets existing nowadays hold great value for investors. You’re on the right track if you’re interested in investing in cryptocurrencies. Here is everything you’ll need to know!


A man holding a mobile phone and bitcoin

What Are Cryptocurrencies?

These encrypted currencies that use digital technology to store undecipherable information called a blockchain. Unless the right private key deciphers it, the data remains unreadable and can be lost forever. Cryptocurrencies are decentralized currencies, meaning no government or national central bank governs and regulates it.

It is in contrast with traditional currencies. Every nation has its legal tender. In our country, it’s the Singaporean Dollar, which holds its own against the US dollar and even Euro. The demand for Singaporean currency is high thanks to the country’s high foreign traffic. Using basic economic laws, the higher the demand for Singaporean Dollars, the higher its price will be its value. But the value equity will still depend on the quantity of currency circulating worldwide today. 

Similarly, the price of cryptocurrencies depends significantly on demand. The main difference is all existing cryptocurrency accounts, each with its respective values, public exchanges post real-time. These are where owners buy or sell their currencies. 

This technology allows the currency to remain decentralized and unregulated. Still, only a private key from a registered user can retrieve and withdraw their stored cryptocurrencies. If hackers alter the nature of a transaction, the private key changes as well. The dynamic and adaptive security acts as one of the best measures against modern digital theft.


Business growth graph

Why Many Are Investing In These Currencies

Traditional currencies have their fixed systems. These arrangements, governments, and central banks have established through decades play a huge role in regulating the printed amount of money. In doing so, they have some sort of control over national currency values, which can help the country’s economy if needed.

However, it presents a series of limitations for some foreign exchange investors. New policies from Singapore or other nations can impose threats to the currency’s value. This results in cryptocurrencies becoming more attractive because of their decentralized and unregulated nature.

Bitcoin, the oldest and first cryptocurrency, rose to fame in 2017 for being the first digital currency to reach USD$19,783 in value. While its prices have become rocky in the last few years following its peak, other cryptocurrencies had helped stabilize the digital cryptocurrency exchange prices. As we can see from crypto’s past performance, the demand for alternative digital currencies with impressive security will continue to grow despite setbacks. In turn, many investors see this as an opportunity to snap up cryptocurrencies while the prices are still young.


What Do You Need to Get Started?

Now that we have the hard stuff out of the way let’s get to the easy part: getting started on your first cryptocurrency adventure. However, easy is relative because you might need to borrow some extra cash from trustworthy moneylenders, such as us at 365 Credit Solutions, to get started. Fortunately, with all your possible cryptocurrency profits, you can address your repayments in no time at all. Here are a few things to know to get started on cryptocurrencies.


Cryptocurrencies came from thin air – relatively. If crypto does not have its regulating body, it uses other means to regulate the production of currencies. It does this through crypto mining. 

In-game currencies you receive in most games are similar to cryptocurrencies. If you use cheat codes to get infinite money, then you can devalue all the in-game items available and disrupt the game’s overall balance and experience. This event is catastrophic if it happened to any real-world cryptocurrency.

Therefore, mining exists to regulate the number of cryptocurrency supplies. Almost every cryptocurrency uses specialized miner computers to restrict supply, secure the network, and process crypto transactions simultaneously. 

Miners uncover new cryptocurrencies by having computers use their every resource to solve computational problems. The algorithmic issues they mine are actually the publicly published blockchains. Every transaction grants miners a portion or entire cryptocurrencies (for example, a “Satoshi,” which is the smallest unit of a Bitcoin).

With many racing towards creating new full cryptocurrencies (a full Bitcoin in the case of Bitcoin), the mathematical computations become more complex. The best-performing miners receive new whole cryptos every ten minutes – a fixed issuance rate. In turn, the “miner race” explains the high-value miners place on graphics cards, high-powered processors, and digital mining rigs.

We don’t advise you to start your own mining rig because you will be competing against warehouse-sized servers worldwide! Therefore, it’s better to trade in cash for cryptocurrencies, knowing that these powerful miners and their rigs secure the network for you.

Crypto Wallets

When you register in a cryptocurrency exchange, you’ll need to pay using your real-world currency. For example, Binance will store your new crypto in an automatically generated wallet. Then, you can withdraw it or re-invest it on the platform.

Hot Wallets

Binance’s crypto wallet is an example of a hot wallet. It generates a digital signature that acts as your private key and has ample protection. It requires internet-connected devices to perform transactions. However, because it consistently needs net connection, it isn’t 100% hacker-proof. It’s great to deposit small amounts of crypto if you make frequent payments because of its fluidity and integration with most exchange centers.

Hardware Wallets

Think of a USB drive. However, instead of just being a plain storage device, it has the coding security to protect your private key from anyone who attempts to snag it. You can only store your key in a USB. Still, you won’t have any ample protection if you accidentally plug your USB with a private key in an infected computer. 

Additionally, if your USB gets stolen, the robber can just access your private keys quickly without added PIN protection. Hardware wallets protect your private keys against all manners of threats, but they’re not free.


Different Types of Coins Available

If you’re asking for the total number of cryptocurrencies or “coins” available today, there are more than 3,000 currently existing as of this writing. Furthermore, it’s easy to start your own cryptocurrency if you have a community willing to use it as something similar to legal tender. However, most cryptocurrencies fail to become popular because they are a copy of an existing cryptocurrency, limited markets, or people just don’t like using it for personal reasons.

In this section, we’ll list the most popular, best, and highest-rated cryptocurrencies available in the market. These cryptos have a significant following, have garnered the attention of investors, and will thrive for decades to come with their popularity and stable value.

Golden bitcoin coin


In October 2008, a Japanese man named Satoshi Nakamoto (which many assume to be a pseudonym of a US-based programmer) published a paper called “Bitcoin: A peer-to-peer electronic cash system.” While he didn’t mail the study to a cryptography mailing list, it garnered significant attention. The same publisher mined the first Bitcoin block number zero, which yielded him 50 bitcoins. Nakamoto sent programmer Hal Finney the very first Bitcoin peer-to-peer transaction as it was proof of concept in January 2009.

Bitcoin has gone through some rough patches until it became the stable currency many know and value today. It held one of the highest importance in cryptocurrency history in 2017 at USD$19,783. It can be expensive to own a single Bitcoin. Hence, investors purchase the smallest value of Bitcoin, Satoshis (named after Nakamoto), instead.

A golden coin with ethereum symbol


Vitalik Buterin saw the potential of Bitcoin as a future currency but found that it had its limitations. He believed the existing currency can improve with advanced features, which led to his development of the Ethereum Virtual Machine (EVM), a decentralized system that uses an international network of private nodes.

Buterin’s long-term research received online crowdfunding and has more quantity than Bitcoin with over 72 million minted coins. By 2020, Ethereum vastly circulates online and uses the same technologies of blockchain and private keys as Bitcoin. However, it improves Bitcoin’s 10-minute transactions into 14-15 seconds. It gives miners better options by offering computational complexity and digital “effort” in transaction fees.

Litecoin coin with wireframe chain


An open-source crypto currency, Litecoin differs from Bitcoin significantly. Additionally, it is born earlier than Ethereum. Established in October 2011, this Ethereum’s predecessor was on speeding up Bitcoin’s 10-minute transaction processing into 2 minutes and 30 seconds. It has a different algorithm to mine Litecoin, which miners find to be more expensive than Bitcoin.

Neo cryptocurrency tokens


It is formerly known as AntShares, which was made by Da Hongfei and Erik Zhan in China in 2014. After their successful experiments with the cryptocurrency, the two rebranded it to NEO in 2017. It bears similarities to the pioneering Bitcoin by using blockchain. 

However, it added a new feature to the list of cryptocurrency and blockchain benefits: smart contracts. In doing so, it can link physical assets with a digital equivalent with their respective signature and private key (as per cryptocurrency). In doing so, the smart contract can protect assets, which invoke country-of-origin laws and a validated digital identity. 

Stellar golden coin with wireframe chain


Similar to Litecoin, Stellar is an open-source blockchain-based cryptocurrency using Lumen. It operates parallel to Ethereum but is less flexible because of its enhanced security features. Ethereum has adopted smart contracts similar to NEO, but its flexibility gives hackers room to intercept. Stellar’s multi-signature, batching, and various nodes of payment help transactions secure intelligent deals in Stellar efficiently, giving it great value for many of its users.


Stack of money coin with trading graph

Marketplaces For Coins

Now that you know more about cryptos and their origins, it’s time to learn more about places you can buy and sell. Relatively, it’s the natural part. A single search engine query can give you a huge list of online marketplaces. Because of cryptocurrency’s open and decentralized nature, you might be using sham marketplaces. Here are four great markets you can trade your coins for excellent value.


You’ll want to be part of an economy that uses cryptocurrencies as their primary mode of payment. OpenBazaar is an eCommerce-centered marketplace that offers excellent solutions for online sellers who wish to earn in cryptocurrencies. If you want to make your first cryptos by selling some of your old stuff, use OpenBazaar.

The platform currently supports buying and selling in Bitcoin, Bitcoin Cash, Litecoin, and Zcash. If you plan to use other currencies in the future, you’ll need to exchange them into any of the prior currencies. The platform promises to accommodate more cryptocurrencies in the future. 


If you want a traditional meat-and-potatoes approach to buying and selling your cryptocurrencies, then Coinbase is the perfect platform for you. The platform makes it easy to register. You’ll need to open an account in the open-ledger financial system. Then, you can use different traditional modes of payment (such as credit cards, PayPal, or other legal tender methods offered, including bank deposits) to purchase your first cryptocurrencies. Coinbase stores your cryptos in an automatically-generated Hot Wallet. The platform offers wallets, a vast marketplace to exchange different kinds of cryptocurrencies, and merchant tools for sellers.


One of the oldest yet most reliable cryptocurrency exchange markets today, Binance began its roots in China, then moved to Malta recently. Its use soared during Bitcoin’s gigantic rally in 2017. When many people become interested in cryptocurrencies, Binance took that chance. It became the best gateway to exchanging cash for cryptocurrencies.

If you’ve invested in traditional markets with your own portfolio, Binance’s interface should appear similar to graphs and currency movements displayed in a grid-style fashion. It’s free to use, and its Hot Wallet is one of the most secure ones around.


Founded in Spain, Bit2Me is the leading buyer and seller of cryptocurrencies in the country. However, it offers its services worldwide. The platform operates like Binance, but with fewer available cryptocurrencies (namely Bitcoin, Ethereum, Litecoin, and Stellar as the most outstanding currencies in their roster).

However, they’re well known for providing excellent customer support that helps cryptocurrency beginners to deal with the problem encountered in the system.


The Process of Crypto Buying and Selling

With knowledge about existing cryptocurrencies and markets that buy and sell them, you’re ready to buy your very first cryptos and sell them afterward for a profit. We’ll guide you through the entire process from opening your primary account to selling them. 

Buying Your Coins

Before you can trade cryptocurrencies and coins, you’ll need to buy them with real-world currencies first. Marketplaces and currency exchanges, such as Binance and Coinbase, update their ledgers with real-time information. Displaying all existing transactions, they show you the latest currency prices as opposed to traditional currencies. 

Open an Account At Crypto Exchanges Listed Above

Only Binance, Coinbase, and Bit2me are exchange-focused cryptocurrency markets that we’ve listed above. You can register an account by entering your email or phone number and a password. Make sure you keep your password greatly unique and offline. These marketplaces will ask you to confirm your email by clicking on a link they’ll send through a confirmation email.

Woman hands holding smartphone with paypal apps on the screen.

Pay With Your Preferred Method

Next, you’ll need to buy your preferred cryptocurrencies to ride the ebbing and flowing values and prices. Binance, Coinbase, and Bit2me provide you with conventional means of payment. With a secure SSL encryption on all these websites, you can trust them to take in your credit card information and keep it safe. However, if you wish to keep your credit card privacy, you can use PayPal and other online payment facilities too. 

Coin ATMs

In some places in Singapore, you can find Coin ATMs that conveniently allows you to exchange your cash into cryptocurrencies. However, you’ll need a hardware wallet to use the ATMs comfortably. Most of these use open ledger information that is readily available from the Internet.

Exchanging Them For Profit

You’re seeing a massive increase in cryptos you’re currently holding. To profit, you’ll need to sell them when their value is high and buy when the crypto value is low. The crypto market bears plenty of resemblance to current-day stock markets. However, it has no brokers due to its decentralized nature, making it easier for anyone to just pick up and make profits.

Bitcoin ATMs

You can use your hardware wallet to exchange your existing cryptos for real-world cash from the same ATMs you purchase your coins. Unfortunately, it’s likely ATMs cannot provide crypto-to-crypto exchanges. Still, we believe those features will surely materialize in the future.

Mobile app running on smartphone

Log Into Currency Exchanges

First, log into your Binance, Coinbase, Bit2me, or other online cryptocurrency exchange accounts. Next, find the sell option in your initial display or account interface. Once done, you’ll be asked which currencies and quantities of the latter would you like to sell. The interface displays the total amount you’ll earn, and you’ll be asked for confirmation.

Buy Other Currencies

The exchanges we listed above provide you with real-time values of all of the platforms’ supported currencies. While you can exchange them for traditional legal tenders, such as Singaporean or US dollars, you can purchase other cryptocurrencies through your platform. However, the platform limits your options only to the currencies it supports. 

Direct Selling

If you want a better wiggle room with the currency you currently hold, you can try direct selling. These are great, especially if you find buyers willing to purchase highly in a single transaction. However, just like in real life, be wary of buyers because some might be out to scam you. So make sure you’re familiar with the common cryptocurrency fraudulent activities and sham methods existing today.


Speakers on the stage with rear view of audience in the conference hall

Your Investment Behavior

Now that you’re at the end of the article, congratulations! You know everything there is about cryptocurrency, markets, and buying and selling. However, you’ve likely heard from friends and enthusiasts that you can turn a huge profit using cryptocurrencies.

The truth is you won’t right away. Like investing in stocks and bonds, you’ll need to learn the supply and demand of currencies and reasons why investors value specific cryptos. In doing so, you can use great investments to get huge returns on investment with cryptocurrencies.


The World of Cryptocurrency Opens a Whole New World of Possibilities

It’s never wise to touch your savings when you need to buy high-performing cryptocurrencies, which currently have a low price, as soon as possible. Luckily, moneylenders, such as 365 Credit Solutions licensed money lender, can provide you a personal loan to jump-start your cryptocurrency adventure. Contact us or head to our branch to apply for an easy and one-week release urgent loan Singapore today!

A Guide On Purchasing Uob Gold Price In Singapore

Gold has become a huge hit to investors searching for a great investment decision that will keep its price, thus conserving the riches of the purchaser. A lot of investors look at gold as insurance protection against worldwide economic volatility. As opposed to money, gold possesses a natural value due to its popularity and extremely limited amount.

Different methods of purchasing UOB gold in Singapore

Buy physical gold

Actual gold is generally acquired by investors as either gold bars as well as coins. When buying physical gold, you should have storage prepared, either at a home safe or by depositing it on a bank. Any type of physical gold will increase in value if the value of gold increases, so you are not limited to just gold bars and coins. You can purchase jewellery with gold and it will increase in value all the same. However, if you intend to buy gold as an investment, buying gold bars and gold coins is recommended. This is because their worth can be measured much easier. 

You can purchase real gold for investment reasons at banking institutions. As an example, it is possible to purchase gold coins or gold bullion bars at banks like UOB. Buying gold in banks will be discussed next in this article or you may like to read about the insurance company in Singapore.

Purchase gold certificates

Purchasing gold certificates is similar to acquiring actual gold, with the exception of not having to take the gold bars with you. As an alternative, you are given a certification, which can generally be sold back whenever you want for money or real gold. This is a great option if you do not have a secure facility for storing the gold bars that you will buy or if you want to cut your gold storage expenses.

Gold Bracelet

Gold savings account

In Singapore, you can also buy gold by using a gold savings bank account. A few banks, such as UOB, provide you with the choice of starting a UOB gold savings account, which in turn will allow you to purchase and sell gold without needing to take care of actual shipping and logistics.

Gold savings account is similar to gold certificates in the sense that they allow you to trade gold without needing to manage physical gold. Your gold investments will just be shown in the balance of your bank account. This type of gold investment is perfect if you want to invest in your already existing bank account.

Do banks sell gold?

Yes, banks do sell gold to people who want to buy them. As stated previously in this article, banks like UOB offer gold savings account, in addition to offering physical gold. However, there is a catch. Even though some banks provide gold bars to buyers, they are becoming extremely rare. Banks who perform buying and selling in gold will most likely provide gold coins to buyers instead of gold bars.

It is comforting to head into the banking institution that you are accustomed to and leave following your purchase of a gold bar. However, as stated above, there are very few banks who still offer gold bars and the majority of banks who sell gold only offers gold coin. Additionally, if you purchase gold in your area, there is always the added danger in carrying it to your storage medium. You could possibly be susceptible to robbery or theft.

Is it worth buying gold in Singapore?

Gold is highly regarded around the globe for its worth and abundant historical past, and have a connection with every culture for many years. But it is worthy to buy gold in Singapore nowadays?

Gold also serves as a hedge against inflation, which means that even when inflation erodes the value of a currency, gold will be largely unaffected. This is due to the fact when fiat money experiences a drop in its purchasing power as a result of inflation, gold is usually used as the basis of currency units and therefore is likely to come up in value. Additionally, gold is viewed as a great holder of value. This leads to people being motivated to purchase gold once they think that their local money is experiencing value loss due to inflation or other economic crisis. As such, it is important to purchase gold, especially if you are looking to preserve your wealth through investing.

In conclusion, every investor should value gold as an investment. Gold really should be a necessary part of a varied investment profile since its value improves as a response to situations that results in the decline of the value of other investments, like money, bonds and shares. Even though the value of gold is usually unpredictable for a while, it has constantly retained its worth in the long run.

Ring Gold

What is the price of gold bar today?

A gold bullion bar weighting 1 kg costs 65118.364 SGD today. Gold bullion bars features a fineness or gold material of around 0.995% to 0.9999%. 1 kilo gold bullion bars are usually rectangle-shaped and are available in two forms, in either cast or minted bars. Considering that they are produced by a number of refineries and mints by the government, gold bullion bars generally have different appearances. Meanwhile, an ounce of gold has a price of 1,997.76 SGD, while 1 gram of gold costs 64.23 SGD.

What is PAMP gold?

PAMP is among the major gold bullion manufacturers worldwide, and is recognized as a pioneer in the precious metals industry. The company was founded back in 1977, and is located in Ticino, Switzerland. PAMP have a cutting edge refinery and manufacturing plants of precious metals, which includes gold.

Are you in need of extra funding to finance your investments of UOB Gold savings account or perhaps physical gold? Or maybe you are looking for money to finance your gold storage expenses instead? We are here to help you to find the best personal loan Singapore! Visit 365 Credit a licensed money lender by clicking on this link to discover what type of loan will work for you.