How do you buy Bitcoin in Singapore? There are a few different ways to buy cryptocurrency, and they all offer their own benefits.
How to buy bitcoin in Singapore
These include ease of use, fees, and security risks. Keep reading to learn more about how to buy Bitcoin in Singapore, including some of the pros and cons of each method.
1. Coinbase
Coinbase is a digital currency exchange that facilitates exchanges of Bitcoin, Ethereum, and Litecoin is available with fiat currencies in 32 countries, and bitcoin is available worldwide in 190 countries.
Since its founding in 2012, Coinbase has raised over $200 million from prominent venture capitalists. As of 2016, it has served over 9 million customers and is one of the largest Bitcoin exchanges in the world.
Litecoin, Ethereum & bitcoin became the first three cryptocurrencies to be traded simultaneously on a new digital currency exchange (GDAX), which was launched on March 7th, 2017.
2. Coinhako
Though it may not be as well-known as some of its more famous counterparts, Coinhako offers a decent range of services that make buying and selling bitcoin easy.
The platform allows you to buy bitcoin using your credit card (with no fee) or with your bank account, netting you 0.9% for every transaction. It also allows you to sell bitcoin if you want.
What’s particularly convenient about Coinhako is that it doesn’t require any verification—you can sign up without handing over personal information. You do need a phone number, however, so if privacy is a priority, look elsewhere on our list!
3. Wirex App
If you’re looking for an easy way to get started with cryptocurrency, check out Wirex.
The company allows you to buy, store and spend several digital currencies, including bitcoin, using a payment card that can be loaded from your bank account. If you live in Singapore and don’t want to jump through any hoops, Wirex is your best bet.
You can even withdraw money directly from ATMs using your Wirex account number. (The company doesn’t operate its own ATM network—yet.) Like other similar services, it charges low fees—1 percent per purchase or sale plus 0.5 percent per ATM withdrawal.
4. Bitcoin ATMs
LocalBitcoins is a peer-to-peer platform that facilitates over-the-counter trading of bitcoin.
Users post advertisements on LocalBitcoins specifying how much they’re willing to pay for bitcoins and traders reply with bids offering their bitcoin at these prices. It’s free to sign up and once you’re registered, you can choose which payment method you’d like to use (i.e., PayPal or Western Union).
You’ll then be matched with a seller who accepts your preferred payment method. After finding a seller, you meet up in person and pay them for their bitcoins using your payment method of choice.
5. LocalBitcoins
The most common way of buying bitcoin is through an exchange. LocalBitcoins is a global peer-to-peer (P2P) exchange, operating a marketplace where buyers and sellers agree on trade terms.
You can use cash or online payment services like PayPal, credit cards, and bank transfers to buy bitcoin from other users. Users may be able to search for trades within a certain region or country only, depending on their settings.
Alternatively, there is an option to buy bitcoins with no verification of ID whatsoever in any country for a higher premium. Those users are more likely to sell bitcoins as a business rather than trading one or two coins with friends.
These are the legal ways to buy bitcoin in Singapore legally. These suggested services are regulated by the government so the investment in them is secure, any of the mentioned services above are in no way linked to Digital Phablet