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Singapore has a higly-developed, free-market economy. There is almost no corruption in Singapore, being ranked the 4th-least corrupt country in the world according to the corruption perceptions index. Due to its political stability and strong, clear laws, Singapore has managed to attract foreign direct investment in recent years.

The Monetary Authority of Singapore (MAS), the city-state’s central bank and financial services regulator, has clarified that it doesn’t see the need to regulate cryptocurrencies yet, though it has taken steps to warn investors about potential risks.

As it stands, cryptocurrency exchanges in Singapore need to comply with the MAS anti-money laundering and financial terrorism measures. The regulations were given a formal face with the recent payment services regulation that has been put in place to keep a check on risks across different payment networks, including Bitcoin's.

Singapore city state

One of the easiest ways to buy Bitcoin in Singapore is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Singapore, allowing you to select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet). If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

Another way to buy Bitcoins in Singapore is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you aren’t buying a lot of Bitcoin. You can locate Bitcoin ATMs in Singapore using our Bitcoin ATM Map.

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There are three main types of Bitcoin wallet and all of them are supported in Singapore:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Singapore that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

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Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Singapore that allow you to buy litecoin and other crypto assets for good exchange rates.

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KuCoin Scam

In September of 2020, Cryptocurrency exchange KuCoin reported a hack resulting in $281 million worth of lost coins. Kucoin first noticed the hack after large withdrawals were made from its hot wallets.

As an immediate action, Kucoin started a security audit and discovered an initial loss of an $150 million in Bitcoin Assets, ERC-20 and other types of tokens.

KuCoin is still investigating the security incident, and posting updates, as well as monitoring a list of suspicious addresses.

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Does Coinbase work in Singapore?

Citizens of Singapore can convert and buy cryptocurrencies with fiat. Supported payment methods are:

• Debit Card
• Credit Card

Where Can I Find a Bitcoin ATM in Singapore?

Singapore offers few ATMs for its citizens to buy Bitcoins with Cash.

You can use our Bitcoin ATM finder tool to find the one nearest you.

What is the price of Bitcoin in Singapore?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

How do I cash out of Bitcoin in Singapore?

Any exchange with a Singapore dollar trading pair will allow you to sell your Bitcoin for fiat currency. Bitpanda has SGD trading pairs for many popular coins.

Another way to sell Bitcoins in Singapore is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private. You can locate Bitcoin ATMs in Singapore using our Bitcoin ATM Map.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.