Crypto Invest

7 Ways You Can Buy BNB In Singapore

How To Buy BNB In Singapore

Last updated on January 19th, 2022

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. FTX
  3. Crypto.com (Credit / debit card)
  4. Crypto.com (Xfers)
  5. AAX
  6. Binance Singapore
  7. Binance (Credit card)

This is a summary of all the platforms,

PlatformTrading Fee
Coinhako0.8% – 1%
FTXUp to 0.07%
Crypto.com
(Credit / Debit Card)
3.5%
Crypto.com
(Xfers)
None (but spread
may be higher)
AAXUp to 0.1%
Binance Singapore0.6%
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
$0.5
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.

FTX

FTX is a cryptocurrency trading platform that is based in California.

They offer one of the cheapest fees when it comes to trading crypto!

Here’s what you need to buy BNB on FTX:

  1. Deposit BTC, USDT or USD into FTX
  2. Select a trading pair with BNB
  3. Enter the details of your order

#1 Deposit BTC, USDT or USD into FTX

While FTX supports SGD, there are no SGD trading pairs with cryptocurrency on the platform.

BNB has trading pairs with these 3 currencies on FTX:

  1. BTC
  2. USDT
  3. USD

You may want to deposit BTC or USDT into FTX, since BNB has trading pairs with these currencies.

You’ll need to go to ‘Wallet‘,

FTX Select Wallet

and then deposit BTC or USDT into FTX.

FTX Deposit BTC or USDT

If possible, you can deposit USDT via the TRC20 network which will help to save on your withdrawal fees!

You can read my guide on depositing fiat currencies from Singapore to FTX to find out more about how you can deposit USD to FTX.

#2 Select a trading pair with BNB

Once you’ve deposited BTC, USDT or USD, you can start to trade them for BNB.

You’ll need to go to the hamburger icon on the left-hand side of FTX’s platform,

FTX Platform Hamburger Icon

and then search for ‘BNB‘ under Spot.

FTX BNB Trading Pair

Futures are a rather complicated product, and you should only be trading in futures if you understand it well!

#3 Enter the details of your order

You can make 7 different orders on FTX:

  1. Limit
  2. Market
  3. Stop market
  4. Stop limit
  5. Trailing stop
  6. Take profit
  7. Take profit limit

After selecting your order type, you’ll need to:

  1. Select the amount of USD you want to buy 1 BNB at
  2. Select the amount of BNB you want to buy
FTX Buy BNB USD

Once your order has been processed, BNB will be credited into your account.

Verdict

FTX charges up to 0.07% (for taker fees) on their platform. This is one of the cheapest fees that you’ll be able to receive for Spot trading!

Due to its rather low fees, FTX can be a platform that you can consider if you want to reduce your costs.

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. Buy USDT from SGD using XanPool
  2. Find the BNB/USDT trading pair
  3. Make the trade

#1 Buy USDT from SGD using XanPool

AAX has a partnership with XanPool which allows you to buy USDT directly from SGD.

To do so, you can go to ‘Buy Crypto‘, and select ‘Fast Buy‘.

AAX Select Fast Buy

This will bring you to a page, where you’ll need to select ‘Buy‘, ‘Spend SGD‘ and ‘Receive USDT‘.

AAX XanPool Buy USDT From SGD

You will be using XanPool’s platform to buy USDT from SGD. After viewing the fees that you’ll incur, you will be redirected to XanPool to make the transaction.

AAX XanPool Buy USDT From SGD Fees

An alternative method you can use is by buying USDT on Liquid, and then transferring it to AAX via the TRC20 network. You can view my guide on buying USDT to find out more.

#2 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

#3 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

AAX accepts USDT via the TRC20 network, which helps to reduce the fees when you’re transferring from one platform to another.

To take advantage of this, you can use either Liquid or XanPool to transfer your crypto to AAX using the TRC20 network.

AAX also charges up to 0.1% in trading fees, which is rather affordable!

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 (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

After buying BNB, you can consider transferring it to either Nexo or Celsius to earn interest.

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TaskCRO Reward
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Steel Crypto.com Visa Card or higher
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Spend a minimum of USD 100
for your first transaction
with the Crypto.com Visa Card
USD $10
Buy/sell a total of USD 500 of crypto
in the Crypto.com App within
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You will need to stake enough CRO (in the equivalent amount in your home currency) to unlock a Ruby Steel card or higher.

You can read more about the referral program on Crypto.com’s website, and the additional referral bonuses here.

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

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You will be able to receive 5% off all of your trading fees on Binance!


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