Crypto Invest

7 Ways You Can Buy BNB In Singapore

How To Buy BNB In Singapore

Last updated on September 21st, 2021

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

BNB is the native coin of Binance, which powers their entire Binance ecosystem.

It has many uses, particularly in reducing the transaction fees you incur when trading on Binance.

So how do you go about buying this coin from Singapore?

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!
Note: With the recent rulings by MAS on Binance (International), you are no longer able to purchase crypto from SGD on their platform. This means that both the P2P trading and purchasing crypto from a SGD credit card are currently unavailable.

How to buy BNB in Singapore

Here are 7 ways that you can buy BNB in Singapore:

  1. Coinhako
  2. Crypto.com (Credit / debit card)
  3. Crypto.com (Xfers)
  4. AAX
  5. Binance Singapore
  6. Binance (P2P)
  7. Binance (Credit card)

This is a summary of all the platforms,

PlatformTrading Fee
Coinhako0.8% – 1%
Crypto.com
(Credit / Debit Card)
3.5%
Crypto.com
(Xfers)
None (but spread
may be higher)
AAXUp to 0.1%
Binance Singapore0.6%
Binance P2PNone
Binance (Credit Card)~ 1%

and here is each method explained in-depth:

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 BNB on Coinhako

Here’s how you can buy BNB on Coinhako:

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

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

Coinhako Find BNB

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

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

Coinhako Buy BNB

BNB is a trade-only token on Coinhako. This means that you can’t send or receive BNB on Coinhako.

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 BNB Fees

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

Coinhako Buy BNB Fees Coingecko Promo

#5 Verify the transfer

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

The BNB 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!

However, Xfers Direct Charge takes a shorter time, while sending your funds via FAST may take up to 1 business day to process.

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’t send BNB to Binance to reduce your trading fees.

As such, this platform may be more suitable if you want to buy other altcoins like DOGE or THETA.

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 BNB on Crypto.com with a credit / debit card

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

  1. Go to Crypto Wallet
  2. Click on ‘Buy BNB’
  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‘.

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

After that, you can tap on BNB.

#2 Tap on ‘Buy BNB’

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

Crypto.com App Buy BNB

#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 App Buy BNB Credit Card

Once the transaction has been approved, BNB will be credited into your BNB 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 BNB 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 BNB on Crypto.com with Xfers

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

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

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

After that, you can tap on BNB.

#3 Tap on ‘Buy BNB’

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

Crypto.com App Buy BNB

#4 Select ‘Fiat Wallet’

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

Crypto.com App Buy BNB Fiat Wallet

#5 Select the amount of BNB you wish to buy

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

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

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 BNB 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!

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. However, you can only trade SGD into BTC or USDT!

This means that you’ll need to make 2 conversions before you can get BNB.

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

  1. Deposit SGD into AAX
  2. Use the Exchange feature to exchange SGD to USDT
  3. Find the BNB/USDT trading pair
  4. Make the trade

#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 Use the Exchange feature to exchange SGD to USDT

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 USDT from your SGD.

AAX Exchange Feature SGD to BTC or USDT

Even though you can buy BTC too, AAX currently does not have a BNB/BTC trading pair! As such, you can only buy BNB from USDT.

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

#3 Find the BNB/USDT trading pair

Once you’ve exchanged your SGD for USDT, you can now go to AAX’s trading platform.

AAX Trading Platform

This can be done by selecting ‘Spot’ on the menu.

AAX Select Spot

After that, you’ll need to select a trading pair with BNB.

AAX BNB Trading Pair USDT

#4 Make the trade

After selecting BNB/USDT as your trading pair, you’ll need to decide on the order type:

  1. Limit
  2. Market
  3. Stop order
AAX Buy BNB From USDT

You’ll also need to enter the details of the trade you wish to make.

This includes:

  1. The price of USDT you want to buy 1 BNB at
  2. The amount of BNB you wish to buy

Once the trade has been filled, BNB 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 are as competitive as Binance (up to 0.1%), and AAX has the added advantage of supporting fiat currencies like SGD.

However, you’ll still need to make 2 trades to get BNB!

I would think that AAX is suitable only if you intend to trade a large amount of crypto.

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 BNB directly from SGD.

How to buy BNB on Binance Singapore

Here’s what you need to do to buy BNB 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 BNB

The minimum trade amount on Binance Singapore is $20.

Your BNB will be bought at the prevailing market rate. You can choose to purchase BNB 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 BNB 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

Overall, Binance Singapore may be the cheapest way of buying BNB compared to the previous methods.

This is because you’ll only incur a 0.6% transaction fee, while you’ll incur a 1% fee on Coinhako!

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 BNB on their trading platform!

Binance Trading Platform

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

How to buy BNB on Binance P2P

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

  1. Go to the P2P platform
  2. Select BNB 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 BNB as the currency you wish to buy

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

Binance P2P Select BNB

There may be less advertisers that want to sell BNB, compared to USDT or BTC.

#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 BNB 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 BNB Select Amount

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 BNB Transfer Bank Account

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 BNB 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 BNB 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 BNB using a credit or debit card on Binance.

The fees are cheaper compared to other platforms!

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

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

  1. Go to ‘Buy Crypto → Credit / Debit Card’
  2. Select BNB 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 BNB
  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 BNB, don’t forget to choose SGD as your currency!

#2 Select BNB as the coin you want to buy

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

Binance Credit Card Buy BNB

#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 BNB.

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

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

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

#5 Make the transaction

Once your transaction has been approved, BNB 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.

Furthermore, you can use BNB to either trade for another currency, or use it to pay your transaction fees.

If you use BNB to pay for your trading fees, you can receive up to 25% off your initial trading fee!

As such, BNB is very useful if you are a frequent trader on Binance’s platform.

Conclusion

There are not many ways that you can buy BNB in Singapore, compared to LINK or ETH.

Here are some considerations to help you decide between the 7 methods:

  1. The fees that you’ll incur
  2. Whether you’ll be able to send BNB to another platform

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