Crypto Invest

4 Ways You Can Buy NANO In Singapore

How to buy NANO In Singapore

Last updated on September 23rd, 2021

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NANO aims to be a fee-less cryptocurrency that offers instant transfers while being eco-friendly too.

If you are looking to buy the NANO token, you may be looking at some of the crypto exchanges in Singapore. However, you can’t buy NANO directly from SGD!

Instead, here are some ways that you can consider to buy this coin:

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 NANO coin in Singapore

Here are 4 ways that you can buy NANO in Singapore:

  1. Crypto.com (App)
  2. Binance
  3. KuCoin
  4. Huobi

This is a summary of all the methods,

PlatformTrading FeeWithdrawal Fee
Crypto.com (App)None (but may
have large spread)
0.008 NANO
BinanceUp to 0.1%0.01 NANO
KuCoinUp to 0.1%0.01 NANO
HuobiUp to 0.2%0.01 NANO

and here is each method explained in-depth:

Crypto.com (App)

Crypto.com is a crypto platform that offers Xfers support. This helps to make trading crypto more accessible from Singapore.

However, you can’t buy NANO directly from SGD.

Instead, you’ll need to make at least 2 trades to purchase NANO.

How to buy NANO on Crypto.com

Here are the steps you’ll need to do to buy NANO on Crypto.com:

  1. Go to Crypto Wallet
  2. Scroll down and find NANO
  3. Click on ‘Buy NANO’
  4. Select your payment method
  5. Confirm the trade

#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‘.

#2 Scroll down and find NANO

If you don’t have any NANO in your Crypto.com wallet, you’ll need to scroll down to find the currency.

Crypto.com App Search For NANO

You can use the search function to find NANO, as there are quite a lot of currencies available on the app!

Crypto.com App Use Search Function

#3 Click on ‘Buy NANO’

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

Crypto.com App Buy NANO Page

#4 Select your payment method

Similar to Coinhako, you cannot decide on the rate that you wish to buy NANO at. Instead, it will be done at the prevailing market rate.

There are 3 payment methods that you can use to buy NANO on Crypto.com:

1. Debit or credit card

You can use either a credit or debit card to purchase NANO directly.

Crypto.com App Buy NANO Credit Card

This would probably the most efficient way of buying NANO. However, you will be charged a 3.5% fee if you’re from Singapore!

Due to this high fee, it may not be worth buying NANO 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 NANO.

Crypto.com App Buy NANO Crypto Wallet

You can only buy NANO using either CRO, BTC or USDT.

3. Fiat wallet

The final way that you can buy NANO on Crypto.com is via a fiat wallet.

Crypto.com App Buy NANO 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 NANO from either a EUR or AUD fiat account.

This is because there are only 8 cryptocurrencies that you can purchase from Xfers:

  1. BTC
  2. ETH
  3. BCH
  4. LTC
  5. XRP
  6. CRO
  7. BNB
  8. XSGD

If you want to buy NANO with SGD, here are the steps that you’ll need to do:

  1. Purchase CRO, BTC or USDT with SGD from your fiat wallet
  2. Purchase NANO from either CRO, BTC or USDT using your crypto wallet (method 2)

#5 Confirm the trade

When you confirm the details, Crypto.com will lock in the exchange rate for 15 seconds.

Once you confirm the trade, NANO will be credited to your account.

Verdict

Here are the fees that you’ll incur with Crypto.com:

Type of FeeAmount
Deposit Fees
(SGD)
None
Trading FeesNone
Withdrawal
Fee (SGD)
0.4% per
withdrawal (Xfers)
Withdrawal
Fee (NANO)
0.008 NANO

The fees when trading with Crypto.com seem to be lower! However the spreads can be quite high.

A spread in trading is the difference between the buy (offer) and sell (bid) prices quoted for an asset.

IG Trading

When you make multiple trades on the Crypto.com app, you may lose some money due to the spread!

These costs can be hard to keep track, but it is something you’ll need to consider.

Binance

Binance is one of the largest crypto exchanges in the world. You are able to trade many cryptocurrencies on their platform.

You can’t buy NANO using a credit card, nor directly from SGD. As such, you’ll need to use the altcoin method to buy this currency.

First, you’ll need to buy crypto from another exchange, and then deposit it into Binance.

Binance Deposit BTC

The best currencies to deposit are BTC or USDT. This is because they have the most trading pairs available.

When you deposit your crypto, you’ll need to make sure that the address you’re sending to is correct.

If not, your crypto may be lost forever!

You can consider using the Binance P2P platform too

Instead of sending crypto from another platform, you can consider using Binance’s P2P platform as well.

Binance P2P Platform Currency

This platform allows you to buy crypto from SGD, such as:

  1. BTC
  2. ETH
  3. USDT

Most of these currencies will have a trading pair with NANO.

Using this method will help you to save on sending fees. However, there may be scammers that are on the platform.

As such, you’ll need to be very careful with who you’re trading with!

Make the trade from your crypto to NANO

After depositing your crypto, you’ll have to buy NANO on Binance’s trading platform.

Binance Trading Platform

Here are the trading pairs that you can trade for NANO on Binance:

  1. NANO/USDT
  2. NANO/BUSD
  3. NANO/BTC
  4. NANO/ETH
Binance NANO Trading Pairs

After selecting your trading pair, you can start to determine the details of your order.

Binance Buy NANO From BTC

You’ll need to decide on:

  1. The price that you’d like to buy 1 NANO at
  2. The amount of NANO you wish to buy

Once you make the trade, NANO will be credited into your account.

Verdict

Here are the fees that you’ll incur on Binance:

FeeAmount
Trading FeeUp to 0.1%
Withdrawal Fee0.01 NANO

The trading fees on Binance are as low as Luno Exchange!

However, it is also quite a hassle to buy NANO on Binance if you’re from Singapore. If you send USDT or BTC to Binance, you may 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 NANO than you initially expected.

Furthermore, you may need to think of the strategy you wish to use to sell your NANO and receive SGD too.

KuCoin

KuCoin is another exchange that you can use to buy NANO. However, you will need to transfer a cryptocurrency from another platform first.

This is because KuCoin does not support any fiat currencies!

How to buy NANO on KuCoin

Here’s what you need to do to buy NANO on KuCoin:

  1. Send your crypto to the KuCoin Main Account
  2. Transfer your crypto to the Trading Account
  3. Find a suitable trading pair
  4. Select the price and quantity to buy NANO

#1 Send your crypto to the KuCoin Main Account

KuCoin does not support any fiat currencies. To fund your KuCoin account, you will need to send a cryptocurrency from another platform.

KuCoin supports 3 trading pairs with NANO:

  1. NANO/USDT
  2. NANO/ETH
  3. NANO/BTC

As such, you will need to deposit either of these 3 currencies into your KuCoin account!

To deposit either coin into KuCoin, you will need to go to ‘Deposit‘.

KuCoin Select Deposit

You can use the dropdown menu to select BTC / ETH / USDT.

KuCoin Select BTC or USDT To Deposit

From there, you will be given a deposit address to send your crypto to.

KuCoin Deposit BTC

If you are copying the address manually, you may want to double check that it is the correct address!

#2 Transfer your crypto to the Trading Account

When you deposit your currency into KuCoin, it will be transferred to your Main Account.

KuCoin Different Accounts

If you wish to trade your currency to NANO, you’ll need to transfer it to your Trading Account!

KuCoin Transfer From Main Account To Trading Account

#3 Find a suitable trading pair

After you’ve transferred your crypto to your Trading Account, you can go to KuCoin’s Spot Exchange.

KuCoin Access Spot

The exchange may seem to be rather overwhelming.

KuCoin Spot Trading Platform

You will need to go to the top left hand corner to select a NANO trading pair.

KuCoin NANO Trading Pairs

#4 Select the price and quantity to buy NANO

After you’ve selected your NANO trading pair, you can proceed to make the order.

KuCoin allows you to make 4 different orders:

  1. Limit
  2. Market
  3. Stop Limit
  4. Stop Market
KuCoin Buy NANO From BTC

The last 2 things you’ll need to do is to:

  1. Select the price that you’d like to buy 1 NANO at
  2. The amount of NANO that you wish to buy

When your trade is completed, NANO will be credited into your account.

Verdict

Here are the fees that you’ll incur when buying and sending NANO on KuCoin:

FeeAmount
Trading FeesUp to 0.1%
NANO Withdrawal Fee0.01 NANO

The trading fees are similar to Binance.

Huobi

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 NANO on Huobi:

  1. Deposit a cryptocurrency into Huobi
  2. Select a trading pair
  3. Select the type of order you wish to make
  4. Select the quantity of NANO you wish to buy

#1 Deposit a cryptocurrency into Huobi

First, you’ll need to go to ‘Balances → Exchange Account‘.

Huobi Balance 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.

Huobi Deposit Cryptocurrency

The safest currencies to deposit will be either BTC or USDT.

#2 Select a trading pair

After depositing your crypto into Huobi, you can start trading it.

If you just want to trade your crypto, you can go to ‘Spot Trading → Exchange‘.

Huobi Spot Trading

You’ll be brought to Huobi’s exchange platform.

Huobi Exchange Platform

You’ll need to find a trading pair with NANO, which can be done at the left hand side of the platform.

Huobi NANO Trading Pairs

Here are some of the trading pairs on Huobi:

  1. NANO/USDT
  2. NANO/BTC
  3. NANO/ETH

#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:

  1. Limit
  2. Market
  3. Stop-Limit
  4. 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 NANO you wish to buy

After you’ve selected your order, you’ll need to select the amount of NANO you wish to buy.

Huobi Buy NANO From BTC

Once the trade has been executed, your NANO will be credited into your account.

Verdict

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

Type of FeeFee Amount
Trading FeesUp to 0.20%
NANO Withdrawal Fee0.01 NANO

The trading fees are slightly higher compared to Binance.

Conclusion

Currently, there are no exchanges that allow you to buy NANO directly from SGD.

If you want to do so, you’ll need to make at least 2 trades (with Crypto.com App being the most straightforward way).

Alternatively, you can send either Bitcoin or Ethereum from Gemini’s Active Trader to Binance, KuCoin or Huobi. You will incur much lower trading fees.

However, you’ll need to think of the withdrawal fees when you eventually want to sell your crypto back to SGD!

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