Last updated on June 6th, 2021
You’ve decided to buy some AAVE tokens to diversify your cryptocurrency portfolio.
But how do you actually go about doing it in Singapore?
Here’s what you need to know:
How to buy AAVE in Singapore
Here are 10 ways you can buy AAVE in Singapore:
- Gemini (Exchange)
- Crypto.com (App)
- Crypto.com (Exchange)
This is a summary of all of the methods:
|Coinhako||Yes||Instant Buy||0.8% – 1%|
|Tokenize||Yes||Trading||0.8% (Min $1)|
|Yes||Instant Buy||From 1.49%|
|Yes||Instant Buy||None (But may |
have large spread)
|No||Trading||Up to 0.16%|
|Liquid||No||Trading||Up to 0.26%|
|Kraken||No||Trading||Up to 0.26%|
|Binance||No||Trading||Up to 0.1%|
|Huobi||No||Trading||Up to 0.2%|
And here is each method explained in-depth:
Coinhako is the most straightforward way of buying AAVE in Singapore.
This is because you can directly buy AAVE from SGD!
Here’s how you can buy AAVE on Coinhako:
- Deposit your SGD into your SGD wallet
- Go to ‘Trade’
- Look for AAVE and click on Buy
- Select the amount of SGD you wish to use to purchase AAVE
- Verify the transfer
#1 Deposit your SGD into your SGD wallet
To start buying crypto on Coinhako, you will need to fund your SGD wallet first. There are 2 ways you can do so:
- Direct FAST transfer
In the past, you could only use Xfers to deposit your funds into Coinhako.
Xfers acts as a middleman between the crypto exchange and your bank account.
However, you are now able to transfer your funds directly to your SGD wallet via FAST!
Don’t forget to include your unique deposit code in the comments section of the transfer. This will help Coinhako to match the deposit to your account!
You do not incur fees when depositing via FAST. Meanwhile you will incur a 0.55% fee for each deposit via Xfers!
FAST is the more cost effective way to deposit your SGD into Coinhako.
#2 Go to ‘Trade’
On Coinhako’s platform, you’ll need to go to the ‘Trade‘ section.
This is where you are able to buy and sell crypto on Coinhako.
When you are making any trade, you can’t determine the price that you wish to buy or sell at. Coinhako will try to match it to the prevailing market rate when you make the trade.
#3 Look for AAVE and click on Buy
You’ll need to scroll down to find AAVE, and then click on ‘Buy‘.
#4 Select the amount of SGD you wish to use to purchase AAVE
You will need to select the amount of SGD that you wish to use for your trade. The amount of AAVE that you receive will be based on the prevailing market rates.
Coinhako has a minimum of $45 SGD for each trade that you make.
For every trade that you make on Coinhako, you are charged a 1% fee.
However if you use the promo code ‘COINGECKO‘, you will reduce your fees to 0.8%.
#5 Verify the transfer
Once you’re done, you will need to verify your trade.
The AAVE tokens will be credited into your account when the trade is completed!
Here are the fees that you’ll incur when trading with Coinhako:
|Type of Fee||Amount|
|Deposit Fees||None (FAST), |
|Trading Fees||1% for any trade|
(0.8% if you use the
promo code COINGECKO)
|Withdrawal Fee (SGD)||$2 per withdrawal|
It is definitely more cost effective to deposit into your SGD wallet via FAST compared to Xfers. You will incur unnecessary fees if you do so with Xfers!
Another thing you’ll need to take note is the withdrawal fee of $2. If you are withdrawing out small amounts, it would not be worth this fee!
Overall, Coinhako has pretty high fees. However the convenience of buying AAVE instantly with SGD helps to make up for it!
Tokenize is a centralised exchange that is based in Singapore and Malaysia.
Their exchange allows you to trade 30 different currencies directly from SGD!
Here’s how you can buy AAVE on Tokenize:
- Deposit your funds
- Go to ‘Market’
- Select SGD/AAVE as your trading pair
- Select the type of order and your trade amount
- Make the trade
#1 Deposit your funds
To start trading on Tokenize, you’ll need to deposit your SGD into your wallet first.
However, it can be a bit hard to navigate around Tokenize’s site. You’ll need to see go to the top right-hand corner which has your name, and select ‘Wallets‘.
After that, you’ll need to scroll down all the way to your Fiat Balance. You’ll see the amount of SGD and USD that you have with Tokenize.
You’ll need to click on ‘Deposit’, and you can deposit your funds via 2 ways:
- Xfers Direct Transfer
- Swap from XSGD wallet
You can only deposit via FAST if you are a Premium or Platinum member.
You’ll be asked to select the amount you want to deposit from your Xfers account, along with the fee.
You’ll be charged a 0.55% fee if you use Xfers Direct Charge.
Tokenize will deduct the balance from your Xfers account, and it will be credited into your SGD wallet.
#2 Go to ‘Market’
After making your deposit, you can start trading your SGD for crypto.
You’ll need to select ‘Market‘ from the dashboard.
#3 Select SGD/AAVE as your trading pair
There are a variety of SGD trading pairs you can choose from.
You can use the search bar to find the SGD/AAVE trading pair.
#4 Select the type of order and your trade amount
There are 2 types of orders you can make with Tokenize:
Limit orders will allow you to determine the price of AAVE that you wish to pay.
This gives you more control over the price that you want to pay for each AAVE.
Meanwhile, market orders will purchase AAVE at the current market price.
If you use this method, you will be able to fill your order almost immediately.
However, what I don’t like about market orders is that you won’t be able to see the trading fee that you’ll need to pay beforehand.
Once you’ve decided the type of trade you wish to make, you can choose the quantity of AAVE that you wish to buy.
#5 Make the trade
After you’ve confirmed your trade, your AAVE tokens will be credited into your wallet.
(min. $1 SGD)
Tokenize is one of the exchanges that charges you a minimum fee.
However, the fees will generally be lower than Coinhako’s (at 1%).
You’ll need to decide if paying these extra fees is worth it to gain access to a greater variety of currencies!
Gemini is another platform that allows you to buy AAVE directly from SGD. However the fees can be quite high!
First, you’ll need to deposit your funds via Xfers first.
After that, you can use the Gemini Exchange to buy your AAVE immediately.
|Trade Amount (SGD)||Trading Fee (SGD)|
|> $15.00 but ≤ $35.00||$2.00|
|> $35.00 but ≤ $70.00||$2.75|
|> $70.00 but ≤ $250.00||$4.00|
|> $250.00||1.49% of your Web Order value|
It is definitely not worth trading any amount that is below $250 SGD.
Moreover, you can only buy AAVE from USD on Gemini’s Active Trader platform.
This is similar to buying ENJ on the platform too.
Although Gemini has a great user interface, it may not be the most cost effective option to buy AAVE from Singapore!
However, unlike Coinhako, you are unable to buy AAVE directly from your SGD!
Instead, you’ll need to make at least 2 trades to purchase AAVE.
How to buy AAVE on Crypto.com
Here are the steps you’ll need to do to buy AAVE on Crypto.com:
- Go to Crypto Wallet
- Scroll down and find AAVE
- Click on ‘Buy AAVE’
- Select your payment method
- Confirm the trade
#1 Go to Crypto Wallet
You’ll need to access your crypto wallet on the Crypto.com app.
This can be done by tapping on the central icon and going to ‘Crypto Wallet‘.
#2 Scroll down and find AAVE
If you don’t have any AAVE in your Crypto.com wallet, you’ll need to scroll down to find the currency.
It may take a while to find it, as Crypto.com does not have a search function!
#3 Click on ‘Buy AAVE’
You will be on the AAVE price page. You’ll need to tap on ‘Buy AAVE‘ to make the trade.
#4 Select your payment method
Similar to Coinhako, you cannot decide on the rate that you wish to buy AAVE at. Instead, it will be done at the prevailing market rate.
There are 3 payment methods that you can use to buy AAVE on Crypto.com:
1. Debit or credit card
You can use either a credit or debit card to purchase AAVE directly.
This would probably the most efficient way of buying AAVE. However, you will be charged a 3.5% fee if you’re from Singapore!
The fees are almost as expensive as buying from Coinhako.
Due to this high fee, it may not be worth buying AAVE using your credit or debit card.
2. Crypto wallet
If you have other cryptocurrencies in your crypto wallet, you can use this to trade for AAVE.
You can use CRO or BTC in your crypto wallet to buy AAVE.
3. Fiat wallet
The final way that you can buy AAVE on Crypto.com is via a fiat wallet.
Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.Investopedia
You can only buy AAVE from either a EUR or AUD fiat account.
Unlike Coinhako, you are unable to purchase AAVE via Xfers!
This is because there are only 8 cryptocurrencies that you can purchase from Xfers:
If you want to buy AAVE with SGD, here are the steps that you’ll need to do:
- Buy CRO or BTC using SGD from your fiat wallet (Xfers)
- Purchase AAVE using CRO or BTC from your crypto wallet (method 2)
#5 Confirm the trade
When you confirm the details, Crypto.com will lock in the exchange rate for 15 seconds.
Once you confirm the trade, the AAVE will be credited to your account.
Here are the fees that you’ll incur with Crypto.com:
|Type of Fee||Amount|
|Withdrawal Fee||0.4% per withdrawal (Xfers)|
The fees when trading with Crypto.com seem to be lower! However the spreads can be quite high.
A spread in trading is the difference between the buy (offer) and sell (bid) prices quoted for an asset.IG Trading
When you make multiple trades on the Crypto.com app, you may lose some money due to the spread!
These costs can be hard to keep track, but it is something you’ll need to consider.
It may be slightly more troublesome compared to buying AAVE with Coinhako. This is because you will need to make 2 trades instead of one if you wish to use SGD.
If you are looking for a more cost effective way of buying other crypto using Crypto.com, you can consider using their exchange platform instead.
This platform is separate from the app, and you’ll need to create a separate account for it.
If you are interested in signing up for a Crypto.com Exchange account and stake at least 1,000 CRO, you can earn at least $10 USD worth of CRO!
For this exchange, you aren’t able to trade your SGD for any of the currencies.
Instead, there are 3 main trading pairs that you can use:
So how do you go about buying AAVE on Crypto.com’s Exchange platform?
#1 Buy CRO directly from SGD
On the Crypto.com app, you can buy either CRO directly from your Xfers wallet.
The crypto will be credited into your Crypto.com app wallet.
#2 Transfer your CRO to Crypto.com Exchange
After you have received your CRO, you will need to transfer it to the Crypto.com Exchange platform.
The transfer between the app and the exchange platforms is free.
On the currency’s page, you’ll need to go to ‘Transfer‘,
click on ‘Withdraw‘,
and then tap on ‘Crypto.com Exchange‘.
After selecting the amount, the CRO will be deposited in your Exchange account.
#3 Select CRO/AAVE as your trading pair
On the Exchange platform, you’ll need to go to ‘Spot‘,
and select CRO/AAVE your trading pair.
#4 Select the amount and make the trade
You can choose between 4 different types of trades on Crypto.com Exchange:
- Stop Limit
- Stop Loss
After selecting the price and the amount that you wish to buy, you can make the trade.
One thing I do not like about Crypto.com’s Exchange platform is that you are unable to see the fee that you’ll incur.
Is this process really worth all the hassle? Why not just make the trade between CRO and AAVE in the app?
Here is the price of 1 AAVE in CRO in the Crypto.com app,
compared to the prevailing market rate on the Exchange platform at around the same time.
You are paying about an additional 21 CRO for every AAVE that you buy.
While this may seem very little, it will become significant if you are trading a large sum of money!
Moreover, you are able to select the price that you want to buy your AAVE at with a Limit order.
The trading fees start from between 0.10% to 0.16%.
If you are looking to buy AAVE frequently, this method may be slightly more cost effective compared to buying via the app!
Liquid is a crypto exchange that is based in Japan. It allows you to transfer your SGD to the exchange. However, you can’t immediately buy AAVE from SGD!
Instead, you’ll need to make 2 trades to buy AAVE.
Here’s what you need to buy AAVE from SGD on Liquid:
- Deposit your money via bank transfer
- Go to Spot Trading
- Select BTC/SGD as your trading pair
- Select the quantity to trade
- Repeat steps 3-4 for BTC/AAVE trading pair
#1 Deposit your money via bank transfer
You’ll need to transfer your money via wire transfer to Liquid.
You are able to deposit SGD into your Liquid account.
#2 Go to Spot Trading
Once you’ve deposited your funds, you can go to ‘Spot Trading‘ to make the trade.
There are other options like Margin trading. However, they are too risky especially if you’re just starting to trade in crypto!
#3 Select BTC/SGD as your trading pair
You’ll need to select BTC/SGD as your trading pair.
You’ll need to trade between SGD and BTC first, before trading BTC for AAVE.
This is because Liquid does not provide you with a SGD/AAVE trading pair. As such, you can’t directly buy AAVE from SGD!
#4 Select the quantity to trade
You’ll need to select the type of order that you wish to make:
- Stop limit
After that, you’ll need to select the amount of SGD or BTC that you wish to include in the trade.
#5 Repeat steps 3-4 for BTC/AAVE trading pair
After you have traded your SGD for BTC, you’ll now need to trade your BTC for AAVE.
This can be done by selecting BTC/AAVE as your trading pair.
You’ll need to make a trade, similar to how you did between BTC and SGD.
After the order is completed, AAVE will be credited into your account.
|Trading fees||Up to 0.30%|
|Withdrawal Fees||$15 SGD + $30 USD|
The trading fees are rather low. However, you’ll need to factor in the costs as you are making 2 trades.
Moreover, the withdrawal fees can be pretty hefty!
You may want to send your AAVE to another exchange that charges you lower withdrawal fees.
The remaining exchanges do not support SGD
For the next few methods, they do not allow you to deposit SGD into their exchanges.
This means that you’ll have to buy a cryptocurrency from one exchange, and then send it to these exchanges.
However, you’ll need to consider the withdrawal fees that you’ll incur when sending your crypto on the blockchain.
Depending on the fees, it can be really hefty!
You can consider using Gemini’s Active Trader, which charges a rather low 0.35% trading fee. You are able to purchase either BTC or ETH from Gemini.
After that, you can send your BTC or ETH to any of the exchanges below. You will not be charged any withdrawal fees for up to 10 withdrawals per month.
Kraken offers quite a few trading pairs on their platform. However, they do not allow you to buy any crypto directly from SGD.
As such, you’ll need to deposit a cryptocurrency onto their platform.
Alternatively, you can deposit other fiat currencies to make the trade too.
How to buy AAVE on Kraken
Here’s what you need to do to buy AAVE on Kraken:
- Deposit a currency into Kraken (fiat or crypto)
- Go to ‘Trade’
- Select a trading pair with AAVE
- Enter the amount that you wish to pay
- Execute the order
#1 Deposit a currency into Kraken (fiat or crypto)
To start trading on Kraken, you’ll need to deposit either a fiat currency or cryptocurrency onto the platform.
You’ll need to go to the funding tab on Kraken.
From there, you can deposit a wide variety of fiat or cryptocurrencies:
If you have any of the fiat currencies, you are able to do a wire transfer.
You may incur some fees when you are transferring your funds to Kraken!
#2 Go to ‘Trade’
Once your funds have been sent to Kraken, you can start trading.
You’ll need to go to the ‘Trade‘ tab to start buying your AAVE.
#3 Select a trading pair with AAVE
If you are using Kraken for the first time, you will be in the ‘Simple‘ interface.
If you wish to use this interface, you’ll need to select your trading pair above.
You can choose to go to the Intermediate interface too, where you can select your preferred trading pair.
From there, you can select a trading pair with AAVE.
If you want to buy AAVE from a cryptocurrency, you can only do so using BTC or ETH.
#4 Enter the amount that you wish to pay
After selecting your preferred trading pair, you’ll need to enter the details of your trade.
#5 Execute the order
Once your trade is executed, the AAVE will be credited into your account.
Here are the fees that you’ll incur when using Kraken:
|Trading fees||Up to 0.26%|
|Withdrawal fee (crypto)||Depends on currency|
|Withdrawal fee (fiat)||Depends on currency|
The fees are pretty reasonable, and there is no minimum fee as well!
However, the fees that you incur on Kraken are slightly higher compared to Binance or Huobi.
Nevertheless, Kraken is still an exchange platform that you can consider buying AAVE from.
Binance is one of the largest crypto exchanges in the world. You are able to trade many cryptocurrencies on their platform.
You can’t buy AAVE using a credit card, nor directly from your SGD. As such, you’ll need to use the altcoin method to buy this currency.
First, you’ll need to buy crypto from another exchange, and then deposit it into Binance.
The best currencies to deposit are BTC or USDT. This is because they have the most trading pairs available.
When you deposit your crypto, you’ll need to make sure that the address you’re sending to is correct.
If not, your crypto may be lost forever!
After depositing your crypto, you’ll have to buy AAVE on Binance’s trading platform.
Here are the trading pairs that you can trade for AAVE on Binance:
After selecting your trading pair, you can start to determine the details of your order.
You’ll need to decide on:
- The amount of BTC you want to trade
- The price of AAVE you want to buy at
Once you make the trade, the AAVE will be credited into your account.
|Type of Fees||Fee Amount|
|Trading Fees||Up to 0.1%|
The trading fees on Binance are as low as Luno Exchange!
However, it is also quite a hassle to buy AAVE on Binance if you’re from Singapore. If you send BTC to Binance, you will incur a withdrawal fee from the crypto exchange you’re sending from.
All of these fees will add up, and you may buy a much lower amount of AAVE than you initially expected!
Huobi is another crypto exchange that allows you to trade a variety of cryptocurrencies.
Since they do not allow you to deposit SGD onto their platform, you’ll need to deposit another cryptocurrency into the exchange first.
Here’s what you’ll need to do to buy AAVE on Huobi:
- Deposit a cryptocurrency into Huobi
- Select a trading pair with AAVE
- Select the type of order you wish to make
- Select the quantity of AAVE you wish to buy
#1 Deposit a cryptocurrency into Huobi
First, you’ll need to go to ‘Balances → Exchange Account‘.
This is where you will deposit your crypto to.
You can choose a wider variety of cryptocurrencies to deposit into Huobi, compared to Binance.
The safest currencies to deposit will be either BTC or ETH.
#2 Select a trading pair with AAVE
After depositing your crypto, you can start trading it.
If you just want to trade your crypto, you can go to ‘Spot Trading → Exchange‘.
You’ll be brought to the exchange platform, which can be rather overwhelming.
You’ll need to find a trading pair with AAVE, which can be done at the left hand side of the platform.
There are fewer trading pairs on Huobi compared to Binance:
You can choose to use USDT instead of BTC, but there are fewer platforms in Singapore that allow you to trade in USDT.
#3 Select the type of order you wish to make
After you’ve selected your trading pair, you would need to select the order type that you wish to make:
- Trigger Order
Limit orders allow you to determine the price you wish to buy or sell your crypto. Meanwhile, market orders will buy your crypto at the prevailing market rate.
#4 Select the quantity of AAVE you wish to buy
After you’ve selected your order, you’ll need to select the amount of AAVE you wish to buy.
Once the trade has been executed, your AAVE will be credited into your account.
|Type of Fee||Fee Amount|
|Trading Fees||Up to 0.20%|
|Withdrawal Fees||Depends on currency|
While the fees are rather cheap, they are not as low as Binance (0.10%). Binance may still be the better choice if you are a frequent trader of crypto.
Coinbase only allows you to purchase AAVE via a debit or credit card.
However, Coinbase charges you a 3.99% credit card fee. This can be extremely hefty!
Coinbase is the least cost effective way of buying AAVE in Singapore. You are charged a really high fee of 3.99%.
As such, you should only use this platform as a last resort!
Exchanges that do not support AAVE
Here are some crypto exchanges that you can access in Singapore. However, they do not allow you to trade AAVE on their platforms!
If you wish to buy AAVE directly from SGD, there are 3 main ways you can do so:
For the other 7 methods, you would need to make at least 2 trades from your SGD to get AAVE.
Even though Coinhako and Tokenize charge higher fees, they may be worth it for the convenience that they give you!
👉🏻 Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
Tokenize Referral (Get 5 TKX worth ~ $45 SGD)
If you are interested in signing up for a Tokenize account, you can use my referral link.
You will be able to receive 5 TKX in your account (worth ~$45 SGD)!
Here’s what you need to do:
- Sign up for a Tokenize account
- Trade at least $1000 USD worth of crypto
- Receive 5 TKX in your Tokenize wallet
Gemini Referral (Earn $10 USD in BTC)
If you are interested in signing up for a Gemini account, you can use my referral link.
You will be able to receive $10 USD in BTC!
Here’s what you need to do:
- Register for a Gemini account
- Trade ≥ USD $100 or equivalent on Gemini’s platform
- Receive USD $10 worth of BTC in your account
Crypto.com Referral (Get $25 USD worth of CRO)
If you are interested in signing up for Crypto.com, you can use my referral link and enter the code ‘x2kfzusxq6‘.
We will both receive $25 USD worth of CRO in our Crypto Wallet.
Here’s what you’ll need to do:
- Sign up for a Crypto.com account
- Enter my referral code: ‘x2kfzusxq6‘
- Stake enough CRO to unlock a Ruby Steel card or higher
The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.
You can read more about the referral program on Crypto.com’s website.
Crypto.com Exchange Referral (Earn $10 USD- $50 USD in CRO)
If you are interested in creating a Crypto.com Exchange account, you can use my referral link and enter the code “x2kfzusxq6“.
Depending on the amount of CRO you stake on the Crypto.com Exchange, you are able to earn between USD $10 to USD $50!
Here are the amounts that you’ll need to stake to receive the bonuses:
|Amount of |
|1,000 – 4,999 CRO||$10|
|≥ 5,000 CRO||$50|
If you’ve already signed up for the Crypto.com app, you can still sign up for this bonus! This is because the Crypto.com App and Exchange are 2 different platforms.
Binance Referral (Receive 5% off your trading fees)
If you are interested in signing up for a Binance account, you can use my referral link.
You will be able to receive 5% off all of your trading fees on Binance!
Are you passionate about personal finance and want to earn some flexible income?