You may have heard of the Cardano (ADA) token, which has been highlighted in the news lately.
However, how do you go about purchasing ADA in Singapore?
Here’s what you need to know.
Table of Contents
- How to buy Cardano (ADA) in Singapore
- Crypto.com (App)
- Crypto.com Exchange
- The remaining exchanges do not support SGD
- Exchanges that do not support Cardano
- Tokenize Referral (Get 10 TKX worth ~ $50 SGD)
- Crypto.com Referral (Get $25 USD worth of CRO)
- Crypto.com Exchange Referral (Earn $10 USD- $50 USD in CRO)
- Binance Referral (Receive 5% off your trading fees)
How to buy Cardano (ADA) in Singapore
Here are 8 ways you can purchase Cardano (ADA) from Singapore:
This is a summary of all the methods:
|Coinhako||Yes||Instant Buy||0.8% – 1%|
|Tokenize||Yes||Trading||1% (Min $1)|
|No||Instant Buy||None (But may |
have large spread)
|No||Trading||Up to 0.16%|
|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 Cardano in Singapore.
This is because you can directly buy ADA from SGD!
How to buy Cardano on Coinhako
Here are the steps that you’ll need to do to buy Cardano (ADA) on Coinhako:
- Deposit your SGD into your SGD wallet
- Go to ‘Trade’
- Look for ADA and click on Buy
- Select the amount of SGD you wish to use to purchase ADA
- 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 ADA and click on Buy
You’ll need to scroll down to find ADA, and then click on ‘Buy‘.
#4 Select the amount of SGD you wish to use to purchase ADA
You will need to select the amount of SGD that you wish to use for your trade. The amount of ADA that you receive will be based on the prevailing market rates.
You may want to note that you can only buy or sell ADA at this point in time. You are unable to send or receive ADA to and from an external wallet.
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%.
Any small reduction in fees would help to increase your returns!
It is also possible to buy ADA using your credit or debit card. However, you will be charged an additional 3% by Coinhako’s payment service provider!
It is really not worth the fees of using your debit card to make the trade, especially when FAST transfers are free!
#5 Verify the transfer
Once you’re done, you will need to verify your trade.
The ADA 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 ADA 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 ADA on Tokenize:
- Deposit your funds
- Go to ‘Market’
- Select SGD/ADA 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’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/ADA as your trading pair
You can select the SGD/ADA trading pair from the list below:
#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 ADA that you wish to pay.
This gives you more control over the price that you want to pay for each ADA.
Meanwhile, market orders will purchase ADA 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 ADA that you wish to buy.
#5 Make the trade
After you’ve confirmed your trade, your ADA will be credited into your wallet.
|Trading Fees||1%, |
Even though Tokenize said that its trading fee is 0.80%, it is actually 1% when you trade ADA.
It is still 0.80% when you trade other currencies like BTC or ETH.
Moreover, the trading fee is quite high at 1% (min. $1).
You’ll need to decide if paying these extra fees is worth it to gain access to a greater variety of currencies!
Crypto.com is another platform that offers Xfers support. However, you are unable to buy ADA directly from your SGD!
Instead, you’ll need to make at least 2 trades to purchase ADA.
Here’s what you need to do:
- Go to Crypto Wallet
- Click on ‘Buy ADA’
- 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 Click on ‘Buy ADA’
You will be on the ADA price page. You’ll need to tap on ‘Buy ADA‘ to make the trade.
#3 Select your payment method
Similar to Coinhako, you cannot decide on the rate that you wish to buy ADA at. Instead, it will be done at the prevailing market rate.
There are 3 payment methods that you can use to buy ADA on Crypto.com:
1. Debit or credit card
You can use either a credit or debit card to purchase ADA directly.
This would probably the most efficient way of buying ADA. 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 ADA 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 ADA.
If you have any spare CRO or other currencies, you can trade them to ADA immediately!
3. Fiat wallet
The final way that you can buy ADA 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 ADA from either a EUR or AUD fiat account.
Unlike Coinhako, you are unable to purchase ADA via Xfers!
This is because there are only 8 cryptocurrencies that you can purchase from Xfers:
If you want to buy ADA with SGD, here are the steps that you’ll need to do:
- Buy any of the 8 currencies above
- Purchase ADA using the crypto wallet (method 2)
However, you may incur a spread when trading via this method. Even though you are not charged any trading fees, you may still lose some money when you make both trades.
#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 ADA 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 paying 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
Crypto.com does not disclose the spreads that they charge, so it is quite hard to tell for sure how much you’re losing.
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 ADA 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 between $10-50 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 ADA on Crypto.com’s Exchange platform?
#1 Buy CRO or BTC directly from SGD
On the Crypto.com app, you can buy either CRO or BTC 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 or BTC, 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/ADA as your trading pair
On the Exchange platform, you’ll need to go to ‘Spot‘,
and select ADA/CRO as the 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 ADA in the app?
Here is the price of 1 ADA 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 0.07 CRO for every ADA that you buy on the app.
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 ADA at with a Limit order. This means that the amount that you pay may be even lower!
The trading fees start from between 0.10% to 0.16%.
If you are looking to buy ADA frequently, this method may be slightly more cost effective compared to buying via the app!
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 using SGD from one exchange, and then send it to these exchanges.
The currency that you should buy is Bitcoin or Ethereum, which would have the most number of trading pairs.
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 using your SGD.
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 Cardano (ADA) on Kraken
Here’s what you need to do to buy Cardano (ADA) on Kraken:
- Deposit a currency into Kraken (fiat or crypto)
- Go to ‘Trade’
- Select a trading pair with ADA
- 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.
If you want to buy ADA using crypto, you can only do so with 3 cryptocurrencies: BTC, ETH and USDT.
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 ADA.
#3 Select a trading pair with ADA
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 ADA.
This depends on the currency that you’ve deposited into Kraken.
#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 ADA 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 ADA from.
Binance is one of the largest crypto exchanges in the world. You are able to trade many cryptocurrencies on their platform.
As such, it is a great platform if you want to buy ‘rarer’ altcoins.
However, you are unable to buy ADA directly using your SGD.
How to buy Cardano on Binance
Here are 2 ways that you can buy Cardano on Binance:
- Credit or Debit card (in USD)
- Transfer BTC to Binance and trade to ADA
#1 Credit or Debit card (in USD)
The most convenient way to buy Cardano on Binance is via a credit or debit card.
However, you can only buy ADA when you select USD.
If you use SGD as your currency, you will be unable to buy ADA!
Binance also charges you a 1% fee for each transaction.
As such, it can be really costly to buy ADA using this method.
#2 Transfer BTC to Binance and trade to ADA
This method is quite troublesome too.
First, you’ll need to buy crypto from another exchange, and then deposit it into Binance.
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 ADA on Binance’s trading platform.
You’ll need to find the ADA/BTC trading pair.
After that, you’ll need to decide on the order that you wish to make.
You’ll need to decide on:
- The amount of ADA you want to trade
- The price of BTC you want to buy at
Once you make the trade, the ADA 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 ADA 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 ADA than you 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 Cardano on Huobi:
- Deposit a cryptocurrency into Huobi
- Select a trading pair
- Select the type of order you wish to make
- Select the quantity of ADA 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
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 ADA, which can be done at the left hand side of the platform.
#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 ADA you wish to buy
After you’ve selected your order, you’ll need to select the amount of ADA you wish to buy.
Once the trade has been executed, your ADA 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 Cardano via your 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 ADA 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 Cardano
Here are some crypto exchanges that you can access in Singapore. However, they do not allow you to trade ADA on their platforms!
If you want to buy ADA directly from your SGD, only 2 platforms offer you this option:
If you want to use the other methods to buy ADA, you may have to make multiple trades. This may be slightly more troublesome for you!
Tokenize Referral (Get 10 TKX worth ~ $50 SGD)
If you are interested in signing up for a Tokenize account, you can use my referral link.
You will be able to receive 10 TKX in your account (worth ~$50 SGD)!
Here’s what you need to do:
- Sign up for a Tokenize account
- Trade at least $1000 USD worth of crypto
- Receive 10 TKX in your Tokenize wallet
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. 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‘
- Sign up for a MCO Ruby Card by staking 5,000 CRO
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.
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!