Where to Buy Crypto in Singapore
Singapore is a major crypto and blockchain hub. Anyone of legal age can purchase Bitcoin, Ethereum, and other cryptocurrencies, and cryptocurrency is not regulated within Singapore — this lack of regulation comes with both advantages and disadvantages.
How to Buy Crypto in Singapore
The best way to buy crypto in Singapore is through an 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.
Buying Crypto Online From Singapore
You can buy crypto online in Singapore from basically any exchange — it’s not necessary to choose a locally based exchange. However, due to the lack of regulation, choosing a safe exchange is vital.
Bitcoin & Cryptocurrency Trading in Singapore
The Monetary Authority of Singapore (MAS) does not consider crypto to be legal tender and does not regulate cryptocurrencies. Crypto’s trading volume in Singapore is currently around 2% of the volume seen in stocks and shares trading, not bad for such a nascent industry.
Pros of Buying Crypto from Singapore
Unlike countries such as China or India, you can freely buy crypto in Singapore without restrictions. Digital assets and their derivatives are legal, and crucially, there are no capital gains taxes to be paid on profits.
Cons of buying Crypto from Singapore
There are few safeguards in place to protect investors from scams or failed projects. While some countries regulate against ICOs or sub-par projects, the free market is at play in Singapore and investors need to make their choices wisely, as the government will not intervene to recoup lost funds.
Here are the Best Exchanges to buy Crypto in Singapore:
1 CryptoWallet.com #1 Recommended
Before we dive into our list of pure exchanges, we want to discuss CryptoWallet.com.
Much more than just an exchange, CryptoWallet.com is an end-to-end crypto banking solution. You can buy and trade crypto, sell crypto for cash, and even spend crypto on real-world goods and services with the CW crypto debit card!
Signing up friends allows you to earn ongoing referral fees paid in crypto. All users can access their own CW international bank account number (IBAN), and pay their bills in crypto. All funds are protected by BitGo, an industry leader in digital asset protection.
To actually spend crypto as real money, https://cryptowallet.com/.
2 Luno
Luno is a low-fee crypto exchange with offices in Singapore as well as the UK and South Africa. It supports trading of hundreds of cryptocurrencies (BTC, ETH, LTC, XRP, and BCH) and many payment methods including credit card and bank transfer.
- Ease of Use: Easy
- Fiat Compatability: EUR, IDR, MYR, NGN, ZAR, ZMW, PLN, UGX, GBP
- Fees: 0.0% – 1%, no deposit fees
- Limits: 1000 EUR monthly at level 1 KYC verification process, 5000 monthly at level 2, limitless at level 3
3 Coinbase
Coinbase one of the world’s largest trading platforms for digital currencies. Users can trade dozens of digital tokens and store them in hot wallets or withdraw to an external crypto wallet like a hardware wallet. The user interface is known to be straightforward to use, while transaction fees are higher than many competitors. Despite this, institutional investors have brokered major trades through Coinbase.
- Ease of Use: Very easy
- Fiat Compatability: Dozens of supported currencies
- Fees: 1.5% – 4% for fiat purchases, up to 0.5% for crypto trades
- Limits: $25,000 daily for KYC verified users
4 Paybis
Paybis is a UK crypto exchange founded in 2014. It supports 10 major cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, and more. Despite the relatively limited range of cryptocurrencies, the wide range of fiat currencies and payment options such as bank deposit and credit card / debit card payment appeal to many traders.
- Ease of Use: Very easy
- Fiat Compatability: 47 fiat currencies
- Fees: 1.5% or higher for card transactions
- Limits: $20,000 USD per week, $50,000 per month. EUR bank transfers allow up to 200,000 EUR per week.
5 Coinmama
Coinmama supports a limited range of 8 crypto assets through many payment options including credit card / debit card, bank deposit, and even Apple Pay. Transaction fees are relatively high, starting at 3.9%, although loyalty program participants can shave these fees down somewhat. It’s necessary to be a fairly active trader on the platform to avail of lower fees.
- Ease of Use: Intermediate
- Fiat Compatibility: GBP, EUR, AUD, CAD, JPY, USD
- Fees: Up to 3.9% for buys, up top 4% for sells
- Limits: $15,000 USD daily
6 CEX.io
CEX is a regulated crypto trading platform licensed by the FinCEN regulator, and this offers an added layer of legislative protection which appeals to more advanced traders. Many trading features and a variety of payment options are available, including bank deposit or internet bank transfer from a EUR bank as well as USD, GBP, and RUB.
- Ease of Use: Intermediate
- Fiat Compatibility: USD, EUR, GBP, and RUB
- Fees: 0.25% taker fee per crypto transaction, 0.16% maker fee, 2.99% for credit cards
- Limits: $3,000 USD daily deposit, $10,000 withdrawals for tier 1
7 Kraken
Kraken is one of the most popular crypto exchange platforms out there. It’s suitable for the complete beginner, with an easy-to-use interface, and it offers trading pairs for over 40 current assets. The exchange saw a flash crash in 2021 with major price decouplings (ETH price on the platform was far lower than the actual market price, resulting in lost funds and accidental cryptocurrency transactions and liquidations). Finance experts blamed the lack of market depth on the platform, a not uncommon problem with digital exchanges. Despite this, the exchange remains highly popular for its market access and education materials.
- Crypto Assets: Very easy
- Fiat Compatibility: EUR, GBP, JPY, CNY, USD
- Fees: 0% – 0.16% taker fee, 0.1% – 0.26% maker fee, higher for credit card fees
- Limits: $5,000 USD daily withdrawals for 30 days, then unlimited withdrawals (crypto)
8 Bitpanda
Bitpanda is a crypto exchange founded in 2014 in Vienna, Austria. It uses a native crypto token (BEST) to help reduce fees. BTC fees start at 1.49% when not using the BEST token. 20 digital assets are available on the platform.
- Ease of Use: Intermediate
- Fiat Compatibility: EUR, USD, GBP, CHF and TRY
- Fees: 1.49% or lower
- Limits: ~$1,800 withdrawals for unverified users
9 CoinHako
CoinHako is a Singapore-based exchange founded in 2014. It supports over two dozen fiat cryptocurrencies and four fiat currencies, including SGD. The exchange boasts low fees for its traders, catering largely to the Asian market.
- Ease of Use: Easy
- Fiat Compatibility: SGD, IDR, VND, USD
- Fees: 1.49% or lower
- Limits: ~$1,800 withdrawals for unverified users
Buying Crypto in Singapore FAQs
Where can I buy Bitcoin in Singapore
You can buy Bitcoin at Bitcoin ATMs, local peer-to-peer services like Local Bitcoins, or crypto exchanges like CryptoWallet.com. ATMs and P2P services come with added costs and risks respectively, and we recommend using CryptoWallet.com or another exchange for the best experience. Try out CryptoWallet.com here!
Where can I spend Crypto in Singapore?
Usually, there are almost no locations or stores where you can spend crypto anywhere in the world or online. However, with CryptoWallet.com, you can spend crypto on any goods or services you want using the CryptoWallet.com debit card!
Where is the safest place to buy Crypto?
The safest place to buy crypto is a crypto exchange, as ATMs or P2P exchanges run the risk of in-person robbery. Always use 2FA (two-factor authentication) security measures when buying and storing crypto.
What is the safest Cryptocurrency?
There is no safest cryptocurrency to buy, and we aren’t in a position where we can offer financial advice. However, many analysts place more trust in cryptocurrencies that are more established and have higher trading volumes, such as Bitcoin.
Where is the best place to buy Crypto?
For trading, storing, and even spending crypto, we believe the best place to buy crypto is right here.
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