Crypto Invest

16 Ways You Can Buy Bitcoin In Singapore

How To Buy Bitcoin In Singapore

Last updated on June 8th, 2021

This article contains affiliate links. You can read more about these links in my Editorial Guidelines.

With the recent craze in cryptocurrencies, you may be wondering how you can get some exposure to Bitcoin.

Since Bitcoin is the most well-known cryptocurrency, you are able to buy it directly from SGD via many ways!

Here’s what you need to know.

Disclaimer: This article is meant for information purposes only, and it is not intended to provide you with financial advice. You should always do your own research first, before making an investment decision!

How to buy Bitcoin in Singapore

Here are 16 ways you can buy Bitcoin in Singapore:

  1. Gemini (Exchange)
  2. Gemini (Active Trader)
  3. Luno (App)
  4. Luno (Exchange)
  5. Zipmex
  6. Coinhako
  7. Liquid
  8. Crypto.com (Credit / Debit card)
  9. Crypto.com (Xfers)
  10. Tokenize
  11. Coinut
  12. Binance (P2P)
  13. Binance (Credit Card)
  14. Binance Singapore
  15. AAX
  16. Coinbase

This is a summary of all of the methods:

PlatformType of
Transaction
Fees
Gemini
(Exchange)
Instant BuyFrom 1.49%
Gemini
(Active Trader)
TradingUp to 0.35%
Luno
(App)
Instant Buy1%
Luno
(Exchange)
TradingUp to 0.1%
ZipmexTrading0.2%
CoinhakoInstant Buy0.8% – 1%
LiquidTradingUp to 0.3%
Crypto.com
(Credit / Debit card)
Instant Buy3.50%
Crypto.com
(Xfers)
Instant BuyNone (But may
have large spread)
TokenizeTrading0.8% (Min $1)
CoinutTradingUp to 0.5%
Binance
(P2P)
P2PFree
Binance
(Credit Card)
Instant Buy1%
Binance SingaporeInstant Buy0.60%
AAXExchangeNone
CoinbaseInstant Buy3.99%

And here is each method explained in-depth:

Gemini (Exchange)

Gemini allows you to buy cryptocurrencies via 2 methods:

  1. Gemini Exchange
  2. Gemini Active Trader

Gemini’s Exchange platform gives you a lot of convenience as you can instantly buy crypto.

However, the fees that they charge are much higher too!

How to buy Bitcoin on Gemini Exchange

Here’s what you need to do to buy Bitcoin on Gemini Exchange:

  1. Deposit your fiat currency to Gemini’s platform
  2. Select BTC from the Market tab
  3. Click on ‘Buy’
  4. Select one-time purchase
  5. Select the amount you wish to purchase
  6. Review the order
  7. Confirm the order and receive your crypto

#1 Deposit your fiat currency to Gemini’s platform

To start buying cryptocurrency on Gemini’s platform, you’ll need to deposit a fiat currency like SGD into their platform.

You can read my guide on how to invest with Gemini to find out more.

You’ll need to create a deposit request with Gemini, before sending your funds to an account owned by Xfers.

After you’ve transferred the funds, it should reach your Gemini account in a few minutes.

Gemini Deposit SGD Into Account

#2 Select BTC on the ‘Market’ tab

Gemini allows you to buy 27 currencies on their Exchange platform.

You’ll need to select BTC when you’re on the ‘Market‘ tab.

Gemini Select Cryptocurrency

#3 Click on ‘Buy’

After selecting BTC, you will be brought to its currency page.

Gemini Cryptocurrency Page

You will need to select the Buy button.

#4 Select one-time purchase

If you are looking to make a one-off payment, you’ll need to select the option here.

Gemini Once Or Recurring

#5 Select the amount you wish to purchase

You’ll need to select the amount of crypto that you wish to purchase.

Gemini Select Trade Amount

There is no minimum to purchase, but you’ll incur quite a substantial fee for small amounts!

#5 Review the order

Before making the trade, you’ll be able to see the details of your purchase.

Gemini Confirm Order

The amount that you’ve previously entered is inclusive of the purchase fees.

#6 Confirm the order and receive your crypto

After you’ve swiped to confirm, your order will be processed and the crypto will be transferred to your portfolio.

Verdict

Here are the fees that you’ll incur when trading on Gemini’s Exchange:

Trade Amount (SGD)Trading Fee (SGD)
≤ $15.00$1.50
> $15.00 but ≤ $35.00$2.00
> $35.00 but ≤ $70.00$2.75
> $70.00 but ≤ $250.00$4.00
> $250.001.49% of your Web Order value

There are no withdrawal or deposit fees when you use Gemini.

If you are only trading a small amount, the fees are extremely high! As such, it is not recommended that you use this method.

Even if you’re buying more than $250, a 1.49% fee is really hefty!

I would not recommend using the Exchange platform to buy Bitcoin on Gemini. Instead, you should consider Gemini’s Active Trader as the fees are much lower.

Gemini (Active Trader)

The second way that you can buy Bitcoin on Gemini is by using their Active Trader platform.

It is different from the Exchange platform as you’ll need to trade your crypto with other users on the platform.

However, the trading fees are much cheaper!

How to buy Bitcoin on Gemini Active Trader

Here’s what you need to do to buy Bitcoin on Gemini Active Trader:

  1. Fund your Gemini account
  2. Select your trading pair with BTC
  3. Select the order type
  4. Input the quantity
  5. Make the trade

#1 Fund your Gemini account

To make a trade, you’ll need to fund your Gemini account first!

Gemini Active Trader Deposit Funds

If you’re a Singaporean, you can easily link your bank account via Xfers.

Gemini Xfers

#2 Select your trading pair with BTC

Once you’ve deposited money into your account, you can start making a trade!

First, you’ll need to select your trading pair.

Gemini Active Trader Select Trading Pair

For example, if you wish to buy BTC from SGD, your trading pair will be BTC-SGD.

#3 Select the order type

You’ll need to select the type of order to execute on the exchange.

Gemini Active Trader Order Type

Here are the definitions of the 6 different order types:

Order TypeDefinition
LimitFilled at or better than a specified price. Any quantity that is not filled
rests on the continuous order book until it is filled or canceled.
Stop-LimitPlaces a Limit order when a Last Trade Price
crosses the Stop Price of the order.
Maker-Or-
Cancel
Rests on the continuous order book at a specified price.
If any quantity can be filled immediately, the entire order is canceled.
Immediate-Or-
Cancel
Filled immediately at or better than a specified price.
Any quantity that is not filled immediately is canceled
and does not rest on the continuous order book.
Fill-or-KillFilled immediately at or better than a specified price.
If the order cannot be filled in full immediately,
the entire quantity is canceled.
The order does not rest on the continuous order book.
MarketFilled immediately at the current best available price

You are unable to perform a stop-loss trade on Gemini Active Trader.

#4 Input the quantity

You will need to input the details of your trade, including:

  1. The price that you want to buy or sell the crypto at
  2. The amount that you want to purchase
Gemini Active Trader Buy BTC From SGD

#7 Make the trade

After making the order, it will be queued in Gemini’s system. if there is another order that matches your specifications, the trade will be executed!

Gemini Active Trader BTC SGD Filled Order

You will receive your BTC from the trade in your account.

Verdict

The fees that you incur with Gemini’s Active Trader are up to 0.35%. This is more than 4x cheaper compared to buying with Gemini’s Exchange platform!

If you are looking to buy Bitcoin, or any other currency on Gemini’s platform, they are a really strong contender with their low fees.

Furthermore, Gemini does not charge you for your first 10 withdrawals from their platform. This really helps you to save on the hefty withdrawal fees!

As such, you are able to buy Bitcoin and then send it to a platform that lends your Bitcoin out, such as Celsius or BlockFi.

Luno (App)

Similar to Gemini, Luno offers you 2 methods of buying Bitcoin on their platform.

This includes:

  1. App (Instant Buy)
  2. Exchange

You will also incur a higher fee when buying Bitcoin via Instant Buy.

How to buy Bitcoin on the Luno App

Here are the steps you’ll need to buy Bitcoin on Luno:

  1. Tap on ‘Buy’ on the BTC wallet page
  2. Transfer money from Xfers to Luno
  3. Select how much BTC you wish to buy
  4. Make the trade

#1 Tap on ‘Buy’ on the Bitcoin wallet page

When you’re on the Bitcoin wallet page, you’ll need to tap on the ‘Buy‘ option.

Luno Bitcoin Wallet Buy BTC

You can select to purchase Bitcoin from other cryptocurrencies, or from SGD.

Luno Buy Ethereum Options

#3 Transfer money from Xfers to Luno

If you wish to buy Bitcoin from SGD, you’ll need to transfer your SGD from your Xfers account first.

Luno Deposit SGD From Xfers

#4 Select how much BTC you wish to buy

You’ll need to select the amount of BTC that you wish to buy.

You’ll be able to see the fees that you incur as well.

#5 Make the trade

After the trade has been completed, the BTC will be deposited into your BTC wallet!

Verdict

Here are the fees that you’ll incur when trading with Luno:

Type of FeeAmount
Deposit FeesNone
Trading Fees
(Instant Buy)
1%
Withdrawal Fee
(SGD)
None

Luno’s Instant Buy fees are similar to Coinhako at 1%.

You are buying at Luno’s prevailing market rate between SGD and BTC. This may also be higher or lower than the actual market rate.

Again, this is quite a costly method of buying crypto. There are more cost effective ways of buying Bitcoin, such as Luno’s Exchange platform.

Luno (Exchange)

Luno’s Exchange platform is rather similar to Gemini Active Trader.

You are able to set a limit order to decide the price of Bitcoin that you wish to buy at.

Furthermore, the fees are much lower compared to buying Bitcoin via Luno’s Instant Buy!

How to buy Bitcoin on Luno Exchange

Here’s what you need to do to buy Bitcoin on Luno’s Exchange platform:

  1. Deposit SGD into Luno from Xfers
  2. Go to ‘Home → Exchange’
  3. Select BTC/SGD as your trading pair
  4. Select the type of order you want to make
  5. Select the price of SGD and the amount of BTC you want to buy
  6. Make the trade

#1 Deposit SGD into Luno from Xfers

You’ll need to deposit SGD from your Xfers wallet into your Luno SGD wallet.

Luno Buy BTC From SGD

The minimum amount you can deposit is $1.

#2 Go to ‘Home → Exchange’

You can only access Luno’s Exchange platform on a desktop browser, and not the mobile app.

To do this, you’ll need to go to Home, and then click on ‘Exchange’.

Luno Access Exchange Platform

This will bring you to Luno’s Exchange platform.

Luno Exchange Platform

#3 Select BTC/SGD as your trading pair

The default trading pair should be BTC/SGD if you’re using it from Singapore.

You can select the trading pair from the dropdown menu.

Luno Trading Pairs

Luno only has a SGD trading pair with BTC. You can’t buy other currencies like ETH or LTC directly from SGD from the Exchange platform.

If you want to own these tokens, then you’ll have to make at least 2 trades!

#4 Select the type of order you want to make

After selecting BTC/SGD as your trading pair, you’ll need to select the type of order you wish to make.

Luno Exchange Select Type Of Order

There are 3 types of orders you can make:

  1. Limit
  2. Market
  3. Stop-limit

#5 Select the price of SGD and the amount of BTC you want to buy

After deciding on your order type, you can fill in the details of the trade.

This includes:

  1. The price of SGD you wish to buy BTC at
  2. The amount of BTC you want to buy
Luno Exchange Details Of Trade

#6 Make the trade

Once you have made the buy order, you will need to wait for your order to be filled.

The BTC will be credited to your account once the trade has been made!

Luno Exchange BTC SGD Filled Order

Verdict

Luno charges one of the lowest trading fees of any exchange platforms that supports SGD. Depending on your trade volume, the trading fees are only a maximum of 0.1%.

This is 10x lower compared to Coinhako!

Another advantage is that Luno supports SGD trading.

Other exchanges like Binance or Huobi have low trading fees too. However, they do not allow you to buy crypto and BTC directly from SGD.

The main drawback about Luno is that you can only buy BTC from SGD on the Exchange platform.

If you are just looking to buy BTC and not other altcoins, Luno can be something you can consider.

Furthermore, you are able to place your BTC into the Luno Savings Wallet to earn interest on your BTC!

Zipmex

Zipmex is an exchange that was founded in Thailand.

It offers you the option to buy crypto directly from SGD, and charges rather low fees too!

Here’s what you need to do to buy BTC on Zipmex:

  1. Go to wallets and select SGD as the funds to deposit
  2. Fill in the details of your deposit into Zipmex
  3. Go to ‘Markets’ and select the BTC/SGD trading pair
  4. Enter the details of your trade

#1 Go to wallets and select SGD as the funds to deposit

You’ll need to deposit SGD into Zipmex first.

To do so, you’ll need to go to ‘Wallets‘,

Zipmex Select Wallets

and then select ‘Deposit‘.

Zipmex Select Deposit

You’ll need to select SGD as the currency you wish to deposit.

Zipmex Select SGD

#2 Fill in the details of your deposit into Zipmex

You are required to enter some details so that Zipmex can process your deposit.

Zipmex Deposit SGD Details

This includes:

  1. Deposit amount
  2. Account number
  3. The bank you’re depositing from

#3 Go to ‘Markets’ and select the BTC/SGD trading pair

After depositing SGD into Zipmex, you can start to use the trading platform.

You’ll need to go to ‘Markets’,

Zipmex Select Markets

which will bring you to the trading platform.

Zipmex Trading Platform

At the left hand corner, you can select the BTC/SGD trading pair.

Zipmex BTC SGD Trading Pair

#4 Enter the details of your trade

The last thing you’ll need to do is to enter the details of your trade.

You are able to make 2 different types of orders:

  1. Market order
  2. Limit order
Zipmex Buy BTC From SGD

You’ll also need to enter the following details:

  1. The price that you’d like to buy 1 BTC at
  2. The amount of BTC you want to buy

When your trade is processed, BTC will be credited into your account.

Verdict

Here are the fees that you’ll incur with Zipmex:

FeeAmount
Trading Fee0.2%
SGD Withdrawal Fee5 SGD

The trading fees on Zipmex are quite low!

However, the withdrawal fees are higher compared to other platforms.

This is a tradeoff that you may have to incur when trading on Zipmex.

Coinhako

Coinhako is a crypto platform that was founded in Singapore in 2014. You are able to buy a wide variety of cryptocurrencies from your SGD on Coinhako.

However, the trading fees that you incur may be much higher compared to other platforms.

How to buy Bitcoin on Coinhako

Here’s how you can buy Bitcoin on Coinhako:

  1. Deposit your SGD into your SGD wallet
  2. Go to ‘Trade’
  3. Look for BTC and click on Buy
  4. Select the amount of SGD you wish to use to purchase BTC
  5. 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:

  1. Xfers
  2. Direct FAST transfer

In the past, you could only use Xfers to deposit your funds into Coinhako.

Xfers Account

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!

Coinhako FAST Transfer

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. However, it may take a longer time for your deposit to be processed.

#2 Go to ‘Trade’

On Coinhako’s platform, you’ll need to go to the ‘Trade‘ section.

Coinhako Trade Platform

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 BTC and click on Buy

You’ll need to scroll down to find BTC, and then click on ‘Buy‘.

Coinhako Buy BTC

#4 Select the amount of SGD you wish to use to purchase BTC

You will need to select the amount of SGD that you wish to use for your trade. The amount of BTC that you receive will be based on the prevailing market rates.

Coinhako Buy BTC Select Amount

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.

Coinhako Buy BTC Fees

However if you use the promo code ‘COINGECKO‘, you will reduce your fees to 0.8%.

Coinhako Buy BTC Fees Coingecko Waiver

#5 Verify the transfer

Once you’re done, you will need to verify your trade.

The BTC tokens will be credited into your account when the trade is completed!

Verdict

Here are the fees that you’ll incur when trading with Coinhako:

Type of FeeAmount
Deposit FeesNone (FAST),
0.55% (Xfers)
Minimum Trade
Amount
$45
Trading Fees1% 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. Moreover, you can only buy Bitcoin at Coinhako’s prevailing market rate.

This may be higher or lower than the current market rate, as seen on Coinmarketcap!

Coinhako’s main advantage is that it allows you to buy a variety of altcoins directly from SGD.

This platform may be more suitable if you are looking to buy certain tokens like DOGE.

If you are just looking to buy Bitcoin, there are other platforms out there that offer lower trading fees!

Liquid

Liquid is a crypto exchange that is based in Japan. It also allows you to transfer your SGD to the exchange.

However, the withdrawal fees for SGD can be quite high!

How to buy Bitcoin on Liquid

Here’s what you need to buy Bitcoin from SGD on Liquid:

  1. Deposit your money via bank transfer
  2. Go to Spot Trading
  3. Select BTC/SGD as your trading pair
  4. Select the quantity to trade

#1 Deposit your money via bank transfer

You’ll need to transfer your money via wire transfer to Liquid.

Liquid Funding Your Account Instructions

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.

Liquid Spot Trading

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.

Liquid BTC SGD Trading Pair

#4 Select the quantity to trade

You’ll need to select the type of order that you wish to make:

  1. Limit
  2. Market
  3. Stop
  4. Stop limit
Liquid Buy BTC From SGD

After that, you’ll need to select the amount of SGD or BTC that you wish to include in the trade.

When your order is filled, the Bitcoin will be credited into your account.

Verdict

Here are the fees that you’ll incur when trading with Liquid:

TypeAmount
Trading feesUp to 0.30%
Withdrawal Fees$15 SGD + $30 USD

The trading fees are rather low. However, the withdrawal fees can be pretty hefty!

If you want to sell your BTC in the future back to SGD, you may want to consider sending your Bitcoin to another platform to sell it off.

Crypto.com (Credit / Debit card)

Crypto.com allows you to buy crypto directly from your credit or debit card.

Even though it is the most convenient method, you may be charged high fees.

How to buy Bitcoin on Crypto.com with a credit / debit card

Here’s what you need to do to buy BTC on Crypto.com with a credit or debit card:

  1. Go to Crypto Wallet
  2. Click on ‘Buy BTC’
  3. Select a debit or credit card to make the purchase

#1 Go to Crypto Wallet

You’ll need to access your crypto wallet on the Crypto.com app.

Crypto.com Crypto Wallet

This can be done by tapping on the central icon and going to ‘Crypto Wallet‘.

BTC should be one of the first few currencies that appear on the list.

After that, you can tap on BTC.

#2 Tap on ‘Buy BTC’

You will be on the BTC price page. You’ll need to tap on ‘Buy BTC‘ to make the trade.

Crypto.com Select Buy BTC

#3 Select a debit or credit card to make the purchase

After that, you’ll need to select a credit card or debit card to make your purchase.

Crypto.com Buy BTC From Credit Card

Once the transaction has been approved, the BTC will be credited into your BTC wallet.

Verdict

Buying crypto using a credit or debit card can be very expensive, and Crypto.com is no exception.

You will be charged a 3.5% fee when buying from Singapore!

Furthermore, you are unable to choose the price of BTC that you wish to buy at. You will be buying at Crypto.com’s prevailing market price, which may be higher or lower than the actual price.

As such, it is not really cost effective to buy crypto using a credit card.

Crypto.com (Xfers)

Crypto.com also has Xfers support, which means that you can actually buy crypto directly from SGD!

How to buy Bitcoin on Crypto.com with Xfers

Here’s what you need to do to buy Bitcoin on Crypto.com using Xfers:

  1. Connect your Xfers wallet to Crypto.com
  2. Go to Crypto Wallet
  3. Click on ‘Buy BTC’
  4. Select ‘Fiat Wallet’
  5. Select the amount of BTC you wish to buy

#1 Connect your Xfers wallet to Crypto.com

To start using Xfers on Crypto.com, you’ll need to connect your Xfers wallet.

This can be done by going to the Settings menu at the top left hand corner,

Crypto.com App Select Settings

and then tapping on ‘Xfers Account‘.

Crypto.com Select Xfers Account

From there, you can link your Xfers account to Crypto.com.

#2 Go to Crypto Wallet

You’ll need to access your crypto wallet on the Crypto.com app.

Crypto.com Crypto Wallet

This can be done by tapping on the central icon and going to ‘Crypto Wallet‘.

BTC should be one of the first few currencies that appear on the list.

After that, you can tap on BTC.

#3 Tap on ‘Buy BTC’

You will be on the BTC price page. You’ll need to tap on ‘Buy BTC‘ to make the trade.

Crypto.com Select Buy BTC

#4 Select ‘Fiat Wallet’

You’ll need to select ‘Fiat Wallet’ at the Buy menu, which is at the top right corner.

Crypto.com Select Fiat Wallet Buy BTC

#5 Select the amount of BTC you wish to buy

After that, you’ll need to select the amount of BTC that you wish to buy.

Once you confirm the trade, the BTC will be credited into your wallet.

Crypto.com Buy BTC From SGD Xfers

Verdict

Crypto.com does not charge any fees when trading crypto on their app.

However, you can’t decide the price that you are buying BTC at. This is based on Crypto.com’s prevailing market price.

This may be higher or lower than the actual market price.

This method is very simple if you don’t want to trade crypto, and just want to buy it instantly.

However, the difference between the actual market price and Crypto.com’s price may be quite high!

Tokenize

Tokenize is a centralised exchange that is based in Singapore and Malaysia.

Their exchange allows you to trade 30 different currencies directly from SGD!

Tokenize Number Of Cryptocurrencies From SGD

Here’s how you can buy BTC on Tokenize:

  1. Deposit your funds
  2. Go to ‘Market’
  3. Select SGD/BTC as your trading pair
  4. Select the type of order and your trade amount
  5. 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‘.

Tokenize 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.

Tokenize Fiat Balance

You’ll need to click on ‘Deposit’, and you can deposit your funds via 2 ways:

  1. Xfers Direct Transfer
  2. Swap from XSGD wallet
Tokenize Deposit Methods SGD

You’ll be asked to select the amount you want to deposit from your Xfers account, along with the fee.

Tokenize Deposit Via Xfers

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.

Tokenize Market Dashboard

#3 Select SGD/BTC as your trading pair

When you click on Market, the default trading pair should be SGD/BTC.

Otherwise, you can search for it with the search bar.

Tokenize Search For BTC

#4 Select the type of order and your trade amount

There are 2 types of orders you can make with Tokenize:

  1. Limit
  2. Market

Limit orders will allow you to determine the price of BTC that you wish to pay.

Tokenize Buy BTC Limit Order

This gives you more control over the price that you want to pay for each dogecoin.

Meanwhile, market orders will purchase BTC at the current market price.

Tokenize Buy BTC Market Order

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.

#5 Make the trade

After you’ve confirmed your trade, your BTC will be credited into your wallet.

Verdict

Here are the fees that you’ll need to pay when trading on Tokenize:

Fee TypeAmount
Deposit Fees0.55%
Trading Fees0.80%
(min. $1 SGD)
Withdrawal Fee0.55%

The trading fee you incur on Tokenize is quite high at 0.80% (min. $1).

However, it is still slightly lower compared to Coinhako.

It may be worth it to use Tokenize to buy certain altcoins like ADA or DOT.

However, there are much more cost effective ways of buying BTC!

As such, I would not really recommend Tokenize due to its higher fees.

Coinut

Coinut is another exchange that is founded in Singapore, and allows you to buy BTC directly from your SGD.

However, it is not as well known as other exchanges.

Here’s what you need to do to purchase Bitcoin on Coinut’s platform:

  1. Deposit your SGD via Xfers Direct
  2. Go to ‘Trade’
  3. Choose the quantity that you wish to buy
  4. Make the trade

#1 Deposit your SGD via Xfers Direct

You can deposit your SGD directly to Coinut via Xfers Direct.

Coinut Xfers Direct Deposit

However, you may want to take note that the minimum deposit is $100.

#2 Go to ‘Trade’

After depositing your money into Coinut, you can go to the trading platform.

Coinut Select BTC SGD As Trading Pair

Don’t forget to set BTC/SGD as your trading pair!

#3 Choose the quantity that you wish to buy

On the same page, you can determine the ‘buy’ trade that you want to make. There are 2 types of trades:

  1. Limit
  2. Market

For limit orders, you are able to set the maximum price of BTC that you’re willing to pay for.

Coinut Buy BTC From SGD Limit Order

This gives you some control on the price that you buy your BTC at.

However for Market orders, you will just purchase BTC at the prevailing market rate.

Coinut Buy BTC From SGD Market Order

This helps you to fill your order right away.

#4 Make the trade

Once a seller has been found, your trade order will be executed.

The BTC will be credited into your Coinut portfolio.

Verdict

Here are the fees and minimum amounts for Coinut:

TypeAmount
Deposit Fee0.55%
Minimum $1 SGD
Trading FeeUp to 0.50%
Minimum Deposit$100
Withdrawal Fee0.55%
Minimum $1 SGD

The trading fee for Coinut is rather low (0.50%). However, you’ll need to consider both the:

  1. Minimum deposit
  2. Withdrawal fee

The withdrawal fee is really high! It may be more worth it to send your crypto to another exchange like Luno, and then withdraw from there.

This may help to save some of your fees.

Binance (P2P)

Binance is one of the largest cryptocurrency exchange platforms, with many supported currencies on their platform.

However, you are unable to trade SGD for BTC on their trading platform!

Binance Trading Platform

You can still buy BTC from SGD, but you’ll have to use their P2P platform instead.

How to buy Bitcoin on Binance P2P

Here is how you can use the Binance P2P platform in Singapore:

  1. Go to the P2P platform
  2. Select BTC as the currency you wish to buy
  3. Select the trader you wish to trade with
  4. Enter the amount you wish to pay
  5. Transfer the money to the advertiser
  6. Receive the crypto in your wallet

#1 Go to the P2P platform

On Binance, you will need to go to ‘Buy Crypto → P2P Trading‘.

Binance Go To P2P Trading Platform

You may want to make sure that the currency you’re paying with is SGD!

#2 Select the BTC as the currency you wish to buy

You will be brought to the Binance P2P platform. You’ll need to select BTC as the currency you wish to buy.

Binance P2P Select BTC

You can buy 5 other currencies on Binance’s P2P platform as well.

#3 Select the trader you wish to trade with

After selecting the currency that you wish to buy, you can take a look at the different advertisers for that currency.

Binance P2P BTC Advertisers

There are a few things that you’ll need to consider for each seller, such as:

  1. The price of SGD they are selling at
  2. The amount of crypto available to trade
  3. The minimum and maximum amount of SGD you can trade
  4. The mode of payment that you want to use

For each profile, you can also see:

  1. The number of completed orders
  2. The rate of order completion

Some advertisers would have the verified logo as well.

There are a wide variety of payment methods you can use. I have seen PayNow, PayLah and even Google Pay!

Binance P2P Singapore Transfer Methods

#4 Enter the amount you wish to pay

After selecting the advertiser, you’ll need to enter the amount that you wish to buy.

Binance P2P Select Amount For BTC 2

After confirming the amount of crypto you’ll receive, you can proceed to the next page.

#5 Transfer the money to the advertiser

On the next page, you will be given instructions to transfer your SGD to the advertiser.

You can only use the payment methods that are approved by the advertiser.

Binance P2P Transfer Money To Advertiser SGD

Once you have made the transfer, you will need to inform the advertiser that you have transferred the SGD to them.

Binance P2P Singapore Confirm Transfer

You’ll need to make the transfer within 15 minutes. If not, your order will be cancelled.

#6 Receive the crypto in your wallet

After making the transfer to the advertiser, you’ll have to wait for them to confirm that they have received the SGD from you.

Once this is confirmed, the crypto will be transferred to your Binance wallet.

You can then use the currency to buy other altcoins!

Here is a video guide on how to make a P2P trade on Binance:

Verdict

Binance does not charge any fees to use their P2P platform.

However, the prevailing price of BTC is also set by the advertisers, and you can’t control it.

Furthermore, P2P platforms are really risky and you may fall prey to a scam.

If you want to buy BTC via this method, I would suggest that you only trade a small amount each time.

That way, you would not lose your entire capital if you really fall prey to a scam!

Binance (Credit Card)

If you do not want to take the risks of trading on a P2P platform, you can choose to buy Bitcoin using a credit or debit card on Binance.

The fees are cheaper compared to other platforms!

How to buy Bitcoin on Binance with a credit or debit card

Here’s what you need to do to buy Bitcoin on Binance with a credit or debit card:

  1. Go to ‘Buy Crypto → Credit / Debit Card’
  2. Select BTC as the coin you want to buy
  3. Select the amount of SGD you wish to use
  4. Select the card that you want to use to buy Bitcoin
  5. Make the transaction

#1 Go to ‘Buy Crypto → Credit / Debit Card’

Once Binance’s platform, you’ll need to go to ‘Buy Crypto → Credit / Debit Card‘.

Binance Buy Crypto From Debit or Credit Card

If you want to use SGD to buy BTC, don’t forget to choose SGD as your currency!

#2 Select BTC as the coin you want to buy

You’ll be brought to the next page, which shows you the transaction details.

Binance Buy BTC Using SGD Credit Card

BTC should be the default coin. If not, you can select it as one of the options.

#3 Select the amount of SGD you wish to use

You’ll need to select the amount of SGD you wish to use to buy your Bitcoin.

Binance allows you to buy Bitcoin from a minimum of $30.

#4 Select the card that you want to use to buy Bitcoin

After that, you’ll need to select your credit or debit card to buy Bitcoin.

#5 Make the transaction

Once your transaction has been approved, the Bitcoin will be credited into your account.

Verdict

Binance only charges you a 1% credit card fee, which is much cheaper compared to other platforms that allow card purchases.

It may be worth buying Bitcoin on Binance using this method, especially if you intend to trade a ‘rare’ altcoin.

This is because you can save on the hefty withdrawal fees when withdrawing your Bitcoin from another platform to Binance.

However, if you just intend to own Bitcoin, then this method may be rather costly too!

Binance Singapore

Binance actually has a Singapore-only platform as well, which is different from Binance.com.

It also has Xfers support, which allows you to buy Bitcoin directly from SGD.

However, the fees may be quite high compared to other platforms.

How to buy Bitcoin on Binance Singapore

Here’s what you need to do to buy Bitcoin on Binance Singapore:

  1. Go to Buy/Sell
  2. Determine the amount of SGD you want to use
  3. Make the trade

#1 Go to Buy/Sell

On Binance Singapore’s platform, you can go to the ‘Buy/Sell‘ tab.

Binance Singapore BuySell

#2 Determine the amount of SGD you want to use

Once you are on the page, you can choose the amount of SGD you wish to trade.

Binance Singapore Buy BTC From SGD

The minimum trade amount on Binance Singapore is $20.

Your BTC will be bought at the prevailing market rate. You can choose to purchase BTC from 2 methods:

  1. Xfers wallet
  2. Binance cash wallet

You’ll need to transfer your money from your bank account to Xfers before you can make a trade!

#3 Make the trade

Once you have executed the order, your BTC will be credited into your portfolio.

Verdict

Here are the fees and minimum trading amounts that you’ll need to pay with Binance Singapore:

TypeAmount
Minimum Trading
Amount
$20
Trading fees0.60%
Withdrawal feesNone

The fees for Binance Singapore are quite high compared to the other exchanges.

There are cheaper alternatives that you can buy Bitcoin with, compared to Binance Singapore!

AAX

Atom Asset Exchange (AAX) was founded in 2018, and is based in Hong Kong.

This exchange allows you to deposit SGD into your account. You are able to buy BTC directly from SGD!

Here’s what you need to do to buy BTC on AAX:

  1. Deposit SGD into AAX
  2. Go to the Exchange feature
  3. Select the amount of SGD you wish to exchange
  4. Make the exchange

#1 Deposit SGD into AAX

First, you’ll need to deposit SGD into your AAX account.

AAX Deposit SGD

You will need to deposit a minimum of $50 into your account. However, if you deposit less than $1.5k, you will incur a $35 deposit fee!

#2 Go to the Exchange feature

Once you have your SGD into your account, you’ll need to go to ‘Buy Crypto → Exchange‘.

AAX Go To Exchange Platform

The Exchange platform allows you to buy BTC or USDT from your SGD.

#3 Select the amount of SGD you wish to exchange

When you’re at the Exchange, you’ll need to enter the amount of SGD that you’d like to change to BTC.

AAX Exchange SGD To BTC

You would need to exchange a minimum of $10 into BTC.

#4 Make the exchange

After selecting ‘Get price’, you will be shown the amount of BTC you’ll receive from SGD.

AAX Confirm SGD BTC Rate

AAX does not charge any fees for this conversion. However, the exchange rate may be slightly less favourable compared to the market rate.

After clicking ‘Exchange now’, BTC will be credited into your account.

Verdict

Here are the fees and minimums when you’re trading on AAX:

Deposit Minimum$50
Deposit Fees$35 if deposit < $1500,
none if deposit ≥ $1500
Trading FeesUp to 0.1%
Withdrawal Minimum$150
Withdrawal Fees0.3% (Minimum $10)
Sending FeesDepends on currency

If you want to save on the deposit fees, you’ll have to deposit at least $1.5k into your AAX account each time!

The trading fees do not apply to exchanging between SGD and BTC. They only apply to the Spot platform, when you want to buy other altcoins from the BTC you have.

AAX may be one of the most efficient ways of buying BTC. Furthermore, they do have quite a large variety of currencies that you can trade from BTC on their platform!

AAX BTC Trading Pairs

The main drawback is the deposit fee that you’ll have to pay if you deposit less than $1.5k SGD. You’ll need to be a serious trader in crypto if you wish to use this platform!

Coinbase

Coinbase is another crypto platform that is rather well established.

If you are from Singapore, you can only buy crypto on Coinbase using a credit or debit card.

How to buy Bitcoin on Coinbase with a credit or debit card

Here’s what you need to do to buy Bitcoin on Coinbase with a credit or debit card:

  1. Add your debit or credit card to Coinbase
  2. Select BTC as the coin you wish to purchase
  3. Select the frequency of your purchase
  4. Select the amount you wish to buy
  5. Make the transfer

#1 Add your debit or credit card to Coinbase

To start buying crypto on Coinbase, you’ll need to add your credit or debit card.

Coinbase Add Credit Debit Card

#2 Select BTC as the coin you wish to purchase

Once you’ve added your credit or debit card, you can start buying crypto on Coinbase.

Coinbase BTC Buy Page

Bitcoin should be the default coin that is selected. If not, you can choose it from the dropdown menu.

Coinbase Select Cryptocurrency To Buy

You can buy other currencies like ADA or LTC too.

#3 Select the frequency of your purchase

You can also select the frequency of your purchase.

Coinbase Select Frequency Of Purchase

This includes:

  1. One time purchase
  2. Every day
  3. Every week
  4. 1st and 15th of the month
  5. Every month

This is good if you want to dollar cost average into Bitcoin.

#4 Select the amount you wish to buy

You’ll then need to select the amount of SGD you wish to use to buy Bitcoin.

The Bitcoin will be bought at Coinbase’s prevailing rate.

#5 Make the transfer

Before making the transfer, you will see a confirmation page.

Coinbase Review Transaction

You can see the fees you incur as well.

Once the transaction has been processed, Bitcoin will be credited to your Coinbase account.

Verdict

Coinbase charges one of the highest fees when buying Bitcoin from Singapore, at 3.99%.

Furthermore, you are unable to withdraw the crypto that you have on Coinbase directly to your Singapore bank account!

As such, Coinbase is not a cost effective method of buying Bitcoin in Singapore.

Conclusion

There are many ways that you can buy Bitcoin directly from SGD. This is because Bitcoin is one of the most established cryptocurrency out there!

When deciding between a platform, here are some considerations for you:

  1. The trading fees you’ll incur
  2. Whether you can trade Bitcoin, or are buying at the platform’s prevailing market rate
  3. Whether you intend to hold Bitcoin, or want to trade it for another altcoin

👉🏻 Referral Deals

If you are interested in signing up for any of the products mentioned above, you can check them out below!

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!

Gemini Referral

Here’s what you need to do:

  1. Register for a Gemini account
  2. Trade ≥ USD $100 or equivalent on Gemini’s platform
  3. Receive USD $10 worth of BTC in your account

Luno Referral (Earn SGD $5 in Bitcoin)

If you are interested in signing up for a Luno account, you can use the referral code ‘T5N74J‘ or my referral link to sign up for an account.

You’ll be able to earn SGD $5 worth in Bitcoin!

Luno Referral

Here’s what you need to do:

  1. Sign up for a Luno Account
  2. Deposit and buy ≥ SGD $100 of BTC via Instant Buy
  3. Receive SGD $5 in Bitcoin

You will need to purchase BTC using the Instant Buy function. The fees that you incur will be 1%.

Luno Buy BTC Fees Instant

It would be best to buy only $100 SGD worth of BTC, which only incurs you a $1 fee. The $5 SGD bonus will be able to offset the fee!

Zipmex Referral (Receive ~ $10 SGD worth of ZMT tokens)

If you are interested in signing up for a Zipmex account, you can use my referral link. You can earn 2.5 ZMT (worth ~ $10 SGD) when you lock up at least 250 ZMT tokens using ZipLock.

Here’s what you need to do:

  1. Sign up for a Zipmex account and complete your KYC
  2. Buy ≥ 250 ZMT from SGD using the trading platform
  3. Lock up your ZMT tokens in ZipLock
  4. Receive 2.5 ZMT tokens

You will be able to earn 16% APY on the ZMT that you’ve locked up!

Zipmex ZipLock ZMT Rate

Your ZMT tokens will need to be locked up for a minimum of 90 days.

Liquid Referral (10% of your trading fees for the first month)

If you are interested in signing up for a Liquid account, you can use my referral link and use the referral code ‘Op-p4Wt6863107‘.

You are able to receive a 10% discount on your trading fees for your first month with Liquid!

Liquid Referral

Here’s what you need to do:

  1. Sign up for a Liquid account
  2. Make any trades on Liquid’s platform
  3. Receive a 10% discount for each trade you make in the first month

Tokenize Referral (Get 5 TKX worth ~ $25 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 ~$25 SGD)!

Tokenize Referral May 2021

Here’s what you need to do:

  1. Sign up for a Tokenize account
  2. Trade at least $1000 USD worth of crypto
  3. Receive 5 TKX in your Tokenize wallet

You can view details of this referral program on Tokenize’s website.

Receive a further SGD $50 worth of TKX when you upgrade to Premium

You are able to receive another SGD $50 worth of TKX if you upgrade to the Premium or Platinum membership of Tokenize.

You will need to pay 160 TKX to upgrade your membership to the Premium tier.

Once you have upgraded your membership tier, you will receive the TKX bonus!

You can view more information about this promotion on Tokenize’s website as well.

Coinut Referral (Receive 37 DAI worth $49 SGD)

If you are interested in signing up for a Coinut account, you can use my referral link.

You will be able to receive 37 DAI upon signing up!

Coinut Referral

Here’s what you’ll need to do:

  1. Sign up for a Coinut account and complete your KYC assessment
  2. Trade ≥ $100 USD worth of crypto using a Market Order (using SGD) within 180 days of registering your account

Once you’ve completed the 2 steps, you’ll receive 37 DAI in your account.

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!


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