Easiest and cheapest ways to buy crypto in Singapore
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Easiest and cheapest ways to buy crypto in Singapore
Uphold
Ease of Use – Easy Fees – Low Verification – 1 Day Reputation – Trusted Supported fiat – USD, GBP, EUR + more
Uphold is a crypto exchange that has been in the game since 2015. The headquarters of the company is in NY, the US. It offers its users a multi-functional exchange of different assets, other than just buying and selling cryptocurrencies.
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Deposit fees:
Free Withdrawal fees:
Free Trading fees:
Based on spreads Service fees:
1% – 3% Payment Methods:
Debit/Credit Cards, Bank Transfer (SEPA), SWIFT, ACH Transfer, Wire Transfer, Crypto Conversion, etc. Supported fiat:
USD, GBP, EUR, and 15+ more
Offers a beginner-friendly interface
Various advanced features
Unique “Anything-to-anything” trading service
Low fees
It is regulated by the US laws
Customer support can be better
Various trading limitations
A less organized educational section (compared to its competitors)
Binance
Ease of Use – Medium Fees – Low Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, AUD, RUB
Binance was launched back in July of 2017 and very quickly became the world’s largest cryptocurrency exchange by trading volume with more than $1 billion on a daily basis.
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Deposit fees:
Free Withdrawal fees:
Vary from crypto to crypto Trading fees:
0.1% Payment Methods:
Debit Card, Credit Card, SWIFT, Bank Transfer (SEPA), and more Supported fiat:
USD, EUR, GBP, AUD, RUB, and 15+ more
The largest cryptocurrency platform
Various advanced services and features
Low fees and high liquidity
A large number of cryptocurrencies supported
Not fully registered
Hacked in 2019
Coinbase
Ease of Use – Easy Fees – Average Verification – 1 Day Reputation – Trusted Supported fiat – EUR, USD, and 50+ more
If we want to mention the biggest cryptocurrency exchanges in the world, Coinbase is most likely the first name that comes to our mind. Coinbase is a very powerful crypto platform, especially in the US.
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Deposit fees:
Credit/Debit Card: 3.99%SEPA: €0U.S Bank Transfer: 1.49% (the US $0.15 min.)Coinbase USD wallet: 1.49%ACH Transfer USD: $0 Wire Transfer USD: $10 Withdrawal fees:
SEPA: €0.15U.S Bank Transfer: 1.49% (US $0.15 min.) Coinbase USD wallet: 1.49%Wire Transfer USD: $25 Trading fees:
Fees vary Payment Methods:
Bank Account, Debit Card, Credit Card, Wire Transfer, SEPA Transfer, Supported fiat:
USD, EUR, GBP, AUD, CAD, CNY & 50+ more
Very large user base and extremely popular
Debit card available
A variety of fiat currencies supported
Over 100 cryptocurrencies supported
No future or margin trading
Fees are fairly high
Crypto.com
Ease of Use – Easy Fees – Medium Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, CAD, and 10+ more
Crypto.com is a prominent cryptocurrency exchange with support for a range of crypto assets and blockchain-related products.
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Deposit fees:
Free Withdrawal fees:
Vary from coin to coin Trading fees:
0.04% – 0.2 % Payment Methods:
Credit card, Cryptocurrency, PayPal, Wise, SEPA Supported fiat:
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR, and more
An extensive list of supported cryptocurrencies
Transparent, competitive fees with discounts available
Support for an ecosystem of cryptocurrency products
Higher fees unless you hold and use CRO
Poor customer support
Trading fee discounts can be confusing to navigate
Best Bitcoin Wallets in Singapore
It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body etc). That is why you should use one of the wallets we list below to store your digital assets. Safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.
extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account
No major flaws
Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux
One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains
Not completely open source
Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.
Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet
Small display
complicated to setup for newbies
Read also:
- How To Buy Bitcoin in the Philippines?
- How To Buy Bitcoin in The United Arab Emirates?
- How To Buy Bitcoin in Canada?
- How To Buy Bitcoin in Nigeria?
Kraken
Ease of Use – Easy Fees – Average Verification – 2-3 Days Reputation – Trusted Supported fiat – USD, EUR, GBP, JPY, CAD
Kraken is one of the oldest and biggest centralized cryptocurrency exchanges on the market. It was founded in San Francisco, California, the United States, in 2011. It has over 6 million users all over the world. Kraken offers 90+ cryptocurrencies that you can buy, sell, and trade.
More info +
Deposit fees:
EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free) Withdrawal fees:
Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD) Trading fees:
Maker: 0.16%Taker: 0.28% Payment Methods:
Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko Supported fiat:
USD, EUR, GBP, JPY, CAD
170+ countries supported
Never been hacked
Mobile App (iOS and Android)
Various payment methods
A wide range of cryptocurrencies is available
Fees slightly above the industry average
Limited customer support
Coinbase
Ease of Use – Easy Fees – High Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, RUB
Founded in 2013 in London, UK, and with over 4 million users, Cex.io is among the oldest cryptocurrency exchange platforms on the market. On Cex.io, you can buy, sell, trade, and store over 100 cryptocurrencies.
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Deposit fees:
0 – 3.99 % Withdrawal fees:
0 – 3 % Trading fees:
0 – 0.25 % Payment Methods:
Credit Card, Bank transfer, ACH, Epay, Skrill, SEPA, Faster Payments Supported fiat:
USD, EUR, GBP, RUB
Regulated and licensed
Well Established Company
Mobile App (Android and iOS)
Great support
Lower liquidity than other exchanges
Extensive Verification Process
Bitstamp
Ease of Use – Easy Fees – Low Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP
Established in 2011 and with HQ in London, Bitstamp is one of the oldest European-based cryptocurrency exchange platforms. With more than a decade of experience, Bitstamp has amassed a pretty decent following. Users can trade crypto via the online trading platform, active trading platform, or mobile app that supports both Android and iOS devices.
More info +
Deposit fees:
0 – 5 % Withdrawal fees:
Sepa – 3 EUR, ACH – Free, Credit cards – 5%, International wire – 0.1%, and crypto – depends on the asset (0.0005 BTC) Trading fees:
0 – 0.5 % Payment Methods:
Credit/Debit Card, ACH Transfer, SEPA, USD Wallet, Faster Payments, and International Wire. Supported fiat:
USD, EUR, GBP
24/7 Phone Customer Support
Low fees
The mobile app is highly rated
Security on a high level
A small selection of cryptos is available
Just 2 cryptocurrencies are available for staking
Limited educational content for beginner traders
Coinmama
Ease of Use – Easy Fees – High Verification – 1 Day Reputation – Trusted Supported fiat – USD, EUR, GBP, CAD, AUD
Coinmama is one of the oldest centralized cryptocurrency exchanges on the market. It was founded in Israel in 2013. Today, Coinmama’s head office is in Dublin, Ireland. Using this crypto exchange, you can easily and quickly buy and sell 10 different cryptocurrencies.
More info +
Deposit fees:
0 – 5 % Withdrawal fees:
None Trading fees:
2.9 – 3.9 % Payment Methods:
Bank Transfer (SEPA), SWIFT, Fedwire, Bank cards, Open Banking, Google Pay, Apple Pay, Skrill Supported fiat:
USD, EUR, GBP, CAD, AUD
150+ countries supported
Mobile App (iOS and Android)
Various payment methods
Quick verification process
Fees above the industry average
Only 10 cryptocurrencies
Frequently asked questions about buying Bitcoin in Singapore
While Bitcoin is not regarded as legal tender in Singapore, cryptocurrency exchanges and trading is legal in Singapore.
You must add a bank account, debit card, or credit card to make your first bitcoin purchase on most exchanges. Adding a bank account is recommended for buying large amounts of bitcoin as the transfer fees tend to be lower. Credit and debit cards are only recommended for smaller purchases as they carry higher fees.
Unfortunately, there is no bitcoin ATM we know of in Singapore.
Yes. It is legal to both own and trade cryptocurrencies in Singapore.
Yes, it is. Crypto mining in Singapore is subject to taxation if the miners are actively using it as a source of income. This is defined by the IRAS as a a ‘habitual and systematic effort to make a profit from the activities’.
The minimum order size on the Bitcoin Market is 0.00001 BTC.
Coinbase is one of the most popular bitcoin exchanges in the world. Based in the US, it is a government regulated exchange that supports buyers from Singapore. You have the option to purchase bitcoins with your credit or debit cards as well as thru an xfers virtual wallet account.
While some Bitcoin ATMs are traditional ATMs with revamped software, they do not require a bank account or debit card. On average, transaction fees are 10-20% but can go as high as 25% and as low as 6.5%.
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