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Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
Residents of Singapore can purchase bitcoins on Coinbase using three payment options - debit card or bank transfer.
Once your Coinbase account is verified, you will be given the account information that will be used to make a bank transfer deposit. This is done through Xfers Transfers. Coinbase claims that deposits clear within a few minutes, and that there are no deposit fees. Once you deposit Coinbase charges 1.49% to purchase coins.
If you are buying with a debit card, there is also a required identity verification. Fees for buying with a debit card are 3.99%.
Coinbase's exchange, Coinbase Pro, is one of the largest Bitcoin exchanges in the United States. Users can fund their accounts via bank transfer, SEPA, or bank wire. Coinbase Pro offers good prices and low fees, but their confusing user interface may initially prove difficult to navigate.
Paybis is a popular & cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.
CoinHako is a Bitcoin broker based in Singapore, backed by investors from the USA. They accept bank transfers from Singapore or Malaysia and international bank wires. You can also top up your CoinHako account using Xfers, which allows you to buy bitcoins within 10 minutes.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
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 platforms, including Bitcoins
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, and you can easily 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 the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, 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.
Singapore has access to many large Bitcoin and cryptocurrency exchanges.
Have a look at our favorites below:
There are three main types of Bitcoin wallet and all of them are supported in Singapore:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.
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.
Citizens of Singapore can convert and buy cryptocurrencies with fiat. Supported payment methods are:
Singapore offers few ATMs for its citizens to buy Bitcoins with Cash.
The current price of Bitcoin in Singapore is SGD47,950.50, however this amount changes every minute, so always check the value on your local exchange.
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.