How to buy Bitcoin, Ethereum and cryptocurrency​ in Singapore? (Updated July 2019)

Blockchain technology was introduced in 2009 and Bitcoin was the first cryptocurrency created by Satoshi Nakamoto. Over the years lots of “Alt Coins” was introduced with newer tech and different use cases. A few popular “Alt coins” are Etheruem, Neo, Ripple and Litecoin.

If you have invested in Bitcoin during Feb-March 2011 and have kept it since you would probably be SGD $16,999 richer by now for each Bitcoin you own since the price of Bitcoin was only $1 dollar back then. That is a whopping 16999% profit from every $1 dollar invested.

It is 2019 now and during this 10 years, we have seen Bitcoin hitting the highest price point at around SGD $26,000 on 17 Dec 2017 and a year later fell to a loss of 83% at SGD $4,400 on 17 Dec 2017.

Giant tech companies are getting involved in the blockchain technology and the perfect example is Libra, a cryptocurrency created by Facebook. Locally we also have Qoo10 that has Quube.

We are not here to give any financial or investment advise. This post serves only one purpose and it is to teach what is the best way to purchase cryptocurrency in Singapore without paying too many fees, how to trade your bitcoin with another cryptocurrency and how to withdraw out your investment to your Singapore bank. We have listed it down in 3 simple steps, buy, trade and withdraw.

Step 1: Buy

1) Coinbase

Coinbase is the most popular exchange for any beginner and also the easiest way to purchase your first cryptocurrency with your credit/debit card. There have a Buy / Sell fees of 1.49% and a credit/debit card fees of 3.99%. They even have an app for any Android or IOS devices. The platform is clean and easy to understand.

2) Binance.sg (Reccomeded)

Do not be complicated by Binance.com which we will talk about it later on the trade part. Binance.sg is a subsidary from Bianace.com which is the largest platform for trading cryptocurrency right now.

Singapore is lucky as Binance setup a Singapore counterpart for us Singaporean to purchase and withdraw money easily. To begin first we need to sign up for Xfers and Binance.sg

Click here to sign up for Xfers Click here to sign up for Binance.sg

Xfers is just like another PayPal which act as a payment platform but Xfers focus on Digital Currency (Cryptocurrency) hence once you sign up for Xfers you can link your bank directly and you can deposit and withdraw your money directly from your bank.

After which you can send your funds to Binance.sg and start purchasing your first Bitcoin. Do note that Binance.sg only offer 3 cryptocurrency right now which is Bitcoin, Ethereum and Binance Coin.

Step 2: Trade

This is for the more advance stage where you explore more opportunities with Alt coins. Alt coins are other cryptocurrencies that are not bitcoin. There are thousands of other coins out there for you to explore and when you see one that you are interested to invest in the high chance is that it most probably be available in exchanges.

Crpto exchange acts like stock exchange. We have listed 3 of the biggest crypto exchange for your references. Simply transfer your coins to these exchanges and you can start trading. Do note that you need to check if the cryptocurrency you are interested in is listed there simply by checking on Coinmarketcap.

Simply search for the coin you want and you can see on which exchange is the cryptocurrency listed.

1) Binance (Largest exchange)

2) Huobi (2nd Largest exchange)

3) Kucoin (3rd largest exchange)

Step 3: Withdraw

After gaining profits and now you decided to draw out the money to your bank account. In the past, we can easily withdraw money from Coinbase but as of today, we are unable to do so.

The next easier was is to just withdraw from your Binance.sg wallet and deposit it your Xfers. From there you should have already linked your bank and it can simply tranfer it directly to your linked bank account.

Click here to sign up on Binance.sg