Hello and welcome to this tutorial Today we're going to walk through how to use FYBSG

com, the online bitcoin exchange, to buy and sell bitcoin In other words, how to trade This is FYBSGcom's homepage So here you'll find any announcements, And on the top of the page always is the navigating ribbon which makes navigating and using the site really simple and easy To get started for the first time you'll need to register an account You can click here or here This would bring you to the registration page where all you need is your email address and then here you will make up a password for your FYBSG account I'm going to use my outlook account and we're going to make up a password

There are some rules – these are just standard rules that you'll see almost everywhere now – Password needs to be at least eight characters long, cointain an upper case and a lower case character, and a digit; it needs a number Just for your own security passwords should not be the same as any other email password or any other account password that you have Once we have the password typed in twice you can go ahead and click submit

After submitting, you will receive an email with instruction on how to complete your registration Typically an email will just take a few minutes for your mailbox to receive If you havent gotten an email within 10 minutes, do check your junkmail folder Let check our emailand there we have a verification email

So what you want to do is copy this verification code and then click on the link That would bring us to the verification page You'd type in your email address and then paste in that verification code and then click verify In order to access the full website, we need to comply with MAS regulations, in which FYBSG needs proof of our identity and our address We can submit those documents when we click on Verify Account You'll need to submit your name, NRIC or Passport number, Address, Contact number, Date of birth, and Nationality

You will also need to submit files or documents which verify this information Here you can click to choose the file from your computer or you can actually drag and drop the file onto the button One file must be a photo ID such as a scan or photo of your NRIC or passport and the next document must show proof of your address This could be an official letter mailed to your address, with your name on it such as a utility bill, a bank statement, or the back of your NRIC if you are Singaporean or a PR The back of an employment pass is not sufficient because it does not include your address

You'll have to make sure that your file sizes are 250 kilobytes or less Or else the system will not accept them To resize an image, you can follow this quick tutorial So, we'll want to open our file with Microsoft paint We could also choose to open Microsoft paint first And then choose our scanned NRIC file from the file tab open command Use the Select tool to draw a rectangle around the IC image and then click Crop

This will get rid of all the white space around scanned IC FYBSG requires that documents be kept to a size of 250 kilobytes or less so we'll probably need to resize the image so its a smaller file size To do this, click resize Make sure the resize by percentage option is selected, and then type in the percentage amount your image will need to be resized by You'll see immediately that the image shrinks

Save the file using SaveAs and choose a different name such as "Front Smaller" Use the same steps for the back of the IC Use the Select tool, draw around the card, and click crop, Then click Resize, type in a number such as 75%, hit Ok, and then SaveAs And type a new name Make sure the file type chosen is JPEG Here we can see that our new file sizes are smaller than they used to be

So I'm just going to drag and drop these files Front and back, onto the buttons And then hit Submit Once you've submitted these items, you just need to wait, typically just one business day and the company will verify that you are indeed a real person and then your account will be fully functional! And you can start to buy and sell your own bitcoins Whenever you're logged in, you will see here your balance: How much bitcoin you have and how much Sing Dollar you have with the exchange which you can use to trade So when you're just starting out of course these will both read zero

So to start buying bitcoin, you'll have to deposit Sing Dollar into our FYBSG account To start with, click into the Deposit page To deposit Sing Dollar, you'll just use the usual standard steps that you use to transfer funds from one bank account to another In this case, from your bank account to FYBSG's company back account Here you will see FYBSG's bank account address and details, and – – This is REALLY IMPORTANT – – Your FYB Code This is your own, unique code that FYBSG uses to identify your account

You MUST include your FYB Code with your deposit; Its the Only way that the company will know that it was you On the deposit page you'll find some helpful screenshots of several of the most common banks' fund transfer forms, and where on those forms you should type your own unique Code So this is usually in the "Comments" section, Or in the "My Initials" section, Or a "Description" section So Copy your FYB Code, and log in to your internet banking And make the fund transfer to FYBSG's bank account You HAVE to include your FYB Code with every deposit you make because thats how FYBSG will know to credit Your account with Your deposit

If you have bitcoin in your own wallet that you want to trade with, You can deposit the bitcoin into this deposit address which is unique to your account and found on the deposit page Your bitcoin will be deposited to your account after three confirmations Singapore Dollar deposits take one business day After one business day or three confirmations, You will see that your account balance would have increased by however much you deposited OK, so we've got Sing Dollar in our account, and now we want to start buying bitcoin with it

We'll click into the Trade Page On the Trade page you will see a realtime chart of the price of bitcoin being bought and sold on the exchange The chart dates all the way back to when the exchange was founded in 2013 you can click and drag to see previous dates and you can also adjust some preferences here For example instead of a weekly view, we can see an hourly view of all the transactions Below the trade chart you'll see the Order Form

The Order Form begins by telling us how much available bitcoin we have in our account and how much available Sing Dollar we have in our account It then goes on to ask us the quantity of bitcoin we would like to buy or sell, and then at what price we want to make this transaction We either use the sell side of the form, or the buy side of the form The current market prices are shown in grey These are just a guide to help us gauge where we want to set our price at

So let's say I want to buy bitcoin and I've got this amount of Sing Dollar in my account If I wanted to buy all the bitcoin I could with my available Sing Dollars, At this market price, I would just have to click Buy All And the Order Form is automatically filled out and we can see theres a breakdown here of how much I would be spending and how much bitcoin I would be getting for that price Orders at the market rate are instant However, if we were to set a lower price, Then the order will become a Pending Order and we would have to wait for the market to reach our price before the order is filled Let's say I want to buy at $12001 (Singapore Dollars) We can check in real time how much out transactions will cost us This is really helpful so you can really hone in on how much bitcoin you want to buy or sell

OK we're going to go with spending S$1000 Dollars, at the price of S$12001 Singapore Dollars per bitcoin If we are happy with that we just click Buy BTC The page will refresh, and down below you'll see that because my order was lower than the market rate, my order became a Pending Order So, I am waiting for it to be filled However, if I had used the market rate, the order would be filled instantly

Here we see all kinds of other details: the Ticket Number, the price, the quantity ordered, the date and time created, and here we have the option to cancel at any time before the transaction is filled We can check on our order in the Order Book The Order Book lists all the Buy and Sell orders that are currently pending on the exchange Each order is an actual order made by an actual person, hoping to sell or buy their bitcoins at a price that they set themselves Because FYBSG is an online bitcoin Exchange, not just a bitcoin selling site, You will be trading Sing Dollars and Bitcoin with real people- with all the other users of the site who want to buy or sell

So FYBSG is really an exchange market; it doesn't set any of the prices The market decides freely and purely what the price of bitcoin is and should be Buy Orders are listed highest price to lowest, and Sell Orders are listed lowest to highest And next to each order is the amount of bitcoin being put up for sale, or being sought to be bought So we can go and find our order

Here it is That means we'll have to wait for these orders to be filled before its our turn This shows the buy orders in green and the sell orders in red

When a buy order price matches a sell order price, then a sale is made and depending on how much bitcoin was listed, for that transaction, the order may be completely filled, or it may be Partially Filled This means, if I'm looking to buy bitcoin, a Partial Fill occurs when the seller who matches my price has put up less bitcoin than I was wanting to buy In that cases, the system would buy for me as much bitcoin that that seller had put up for sale, and my order would be updated as Partially Filled until another seller matches my price, and so on The same applies the other way around If I was selling bitcoin instead, and a buyer matched my price but only wanted to buy less bitcoin than I had put up for sale, they would buy the amount that they could, and I would have a Partially Filled Pending Order

And I would await the next buyer, and so on We can check our past orders on the Order History page Here you'll have a summary of the various orders that we've made, and cancelled, and which are Partially Filled, etc We hope this tutorial has been useful Follow these four steps and you'll be all set and Ready to trade Bitcoin