Author - Daniels Kenneth In category - Cryptocurrency exchange Publish time - 15 August 2023

how to buy crypto in singapore

Binance is the current world’s biggest crypto exchange by trading volume, with over 120 million registered users and more than 350 cryptocurrencies listed. This crypto platform in Singapore primarily incentivizes its growing user base with a low transaction fee of less than 0.10% and a zero-trading fee on selected Bitcoin spot trading pairs. Cryptocurrency exchanges have taken the world by storm in recent years, and Singapore is certainly no exception.

Always use 2FA (two-factor authentication) security measures when buying and storing crypto. Zengo offers 24/7 in-app customer service with real people, and supports 120+ assets, including Bitcoin, Ethereum, and Tezos. Zengo is the most secure non-custodial wallet in Web3 by removing the private key vulnerability, making it the simplest yet most secure wallet to invest in cryptocurrency. Create an account in less than 60 seconds and be the true owner of your crypto. Gemini is considered one of the best exchanges in Singapore due to its focus on trust, security, and transparent proof-of-funds for staking and compliance. Gemini is SOC 1 Type 2 and SOC 2 Type 2 compliant, which means that the exchange has met the highest standards of security and data protection.

It requires all cryptocurrency exchanges operating in Singapore to be registered with the agency and comply with the Payment Services Act. Independent Reserve is among the first Bitcoin exchanges in Singapore to be licensed by the Monetary Authority of Singapore. The platform ensures the security of assets by monitoring transactions 24/7 and providing multi-factor encryption to handle users’ transactions safely and securely.

Where to Buy Crypto in Singapore

Digital assets and their derivatives are legal, and crucially, there are no capital gains taxes to be paid on profits. CoinMarketCap takes a look at what you need to have in order to buy cryptocurrency in Singapore. As the fundamentals of Bitcoin are covered, it is time to disclose the legal aspect of cryptocurrencies in Singapore. Understanding cryptocurrency is essential before purchasing Bitcoin in Singapore. With Changelly’s stellar team, we have developed a unique system to ensure exchanges are fulfilled in the fastest possible time and with immediate customer support.

This gives you more control over your funds and reduces the risk of theft or fraud. When choosing a cryptocurrency wallet, it is paramount to use a secured personal wallet. This means a wallet that allows you to control your private keys, which are the secret codes that give you access to your funds and let you transact on the blockchain.

how to buy crypto in singapore

Make sure you are using a reputable exchange and do your due diligence to be certain of buying Bitcoin safely. Using a secured personal cryptocurrency wallet is also necessary when you are planning to buy Bitcoin. A cryptocurrency wallet is a digital wallet that allows you to store, transfer, and receive cryptocurrency. The Monetary Authority of Singapore (MAS) performs cryptocurrency regulation in Singapore.

Countries and regions you can buy Bitcoin

You can go to a local bank office (or cash transfer branch) and get your money transferred to your Bitcoin seller. Most exchanges allow you to purchase Bitcoin (BTC) with a prepaid card, and the process is usually straightforward. All you need to do is register an account, verify your identity, and then deposit funds into the platform using your prepaid card.

  • With Changelly, you can use a Visa or a Mastercard credit card issued in your local currency.
  • This means a wallet that allows you to control your private keys, which are the secret codes that give you access to your funds and let you transact on the blockchain.
  • Zengo offers 24/7 in-app customer service with real people, and supports 120+ assets, including Bitcoin, Ethereum, and Tezos.

On top of this, they offer the widest range of assets on the platform for Singaporean investors with over 250 cryptos to buy, sell and trade. The Monetary Authority of Singapore (MAS) has clarified that buying cryptocurrencies is legal in the country for both residents and non-residents. For example, MAS has said that financial institutions are not allowed to deal with cryptocurrencies. This means that you cannot buy Bitcoin or other cryptocurrencies through a local bank or investment firm in Singapore. Fortunately, you can send Singapore dollars from your bank account to a crypto trading platform, and then use these funds for buying Bitcoin. Online crypto exchanges are special platforms that allow you to buy and sell Bitcoin and other cryptocurrencies.

For trading, storing, and even spending crypto, we believe the best place to buy crypto is right here. Before we dive into our list of pure exchanges, we want to discuss

Market best fiat and crypto trading solutions for seamless access

Bank transfers are one of the most popular methods of buying Bitcoin (BTC) in Singapore, as they allow users to transfer funds from abroad. An overseas bank transfer is a convenient option, as it allows users to avoid the hassle of converting their local currency into another currency. A wire transfer is typically the least expensive option because it does not result in any additional deposit fees. Zipmex offers an impressive 12% interest rate on crypto assets, allowing you to earn crypto rewards on idle assets. It also has low trading fees and high liquidity with a diverse range of cryptocurrency trading pairs.

how to buy crypto in singapore

It is also licensed and audited by the Monetary Authority of Singapore (MAS), and its state-of-the-art storage system is built by world-class security engineers and experts. Here, the taxation of crypto coins is determined by the Inland Revenue Authority of Singapore (IRAS). According to the IRAS, cryptocurrencies are taxed as a form of income, and the tax rate is determined based on the type of cryptocurrency. We aggregate crypto offers from a variety of fiat payment providers so that you can always find the very best one. We take a comprehensive security approach to ensure your crypto investments and identity are safe. We provide quick crypto purchases to more than 2.6 million users every month.

Your Rewards Await

We offer an extensive inventory of cryptocurrencies to trade, which is coupled with industry-low fees, institution-grade security, and instantaneous executions. The cryptocurrency exchange also offers its users the Visa Card, which offers 5% cash back on all purchases, has no annual fees, and can be loaded with either cryptocurrency or fiat currency. The platform also ensures the security of user crypto assets by adhering to strict regulatory frameworks. It uses advanced data encryption and has a Secure Asset Fund for Users (SAFU) that safeguards a portion of the customer’s funds. Unfortunately, it is not currently possible to buy Bitcoin with PayPal through online crypto exchange platforms in Singapore. However, if you have your heart set on buying digital currency only with PayPal, you can resort to peer-to-peer marketplaces and find a Bitcoin seller who will accept your payment via PayPal.

how to buy crypto in singapore

All funds are protected by BitGo, an industry leader in digital asset protection. is a cryptocurrency exchange in Singapore with more than 70 million users. Okcoin also has a more advanced trading platform where expert traders can invest digital assets into other financial products such as staking and Defi. Additionally, the exchange also offers a staking program that ranges from 17% to 10% APY on BTC deposits.

Bitcoin Prices Over The Past 7 Singapore National Days

The platform offers a native Zipmex token, ZMT, which you can lock to earn rewards and discounts like reducing trading fees by 50%. is considered one of the best platforms in Singapore because it is a leading cryptocurrency platform that is trusted by more than 80 million users worldwide. It is known for being a leader in regulatory compliance, providing industry-leading custodial insurance and audited proofs-of-reserves.

There are few safeguards in place to protect investors from scams or failed projects. You can buy crypto online in Singapore from basically any exchange — it’s not necessary to choose a locally based exchange. Let’s take a look at some of the pros, cons, and key pieces of information around buying crypto in Singapore before jumping into our exchange review. Find the best Starknet Bridge to move assets like ETH, USDC, USDT and WBTC to the Layer 2 zk-rollup.

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