Last updated on June 16th, 2021
The Polygon blockchain aims to reduce the congestion on the Ethereum network through the use of sidechains.
If you are intending to buy the Polygon’s native token (MATIC) in Singapore, here’s what you need to know.
How to buy Polygon (MATIC) in Singapore
Here are 9 ways you can buy Polygon (MATIC) in Singapore:
- Gemini (Exchange)
- Crypto.com (App)
This is a summary of all of the platforms,
|Coinhako||Yes||0.8% – 1.0%|
|Tokenize||Yes||0.8%, min. $1|
|No||None (but spread |
may be higher)
|FTX||No||Up to 0.07%|
|Binance||No||Up to 0.1%|
|Huobi||No||Up to 0.2%|
and here is each platform explained in-depth:
Coinhako is one of the most straightforward way of buying MATIC in Singapore.
This is because you can directly buy MATIC from SGD!
How to buy Polygon (MATIC) on Coinhako
Here are the steps that you’ll need to do to buy MATIC on Coinhako:
- Deposit SGD into your SGD wallet
- Go to ‘Trade’
- Look for MATIC and click on Buy
- Select the amount of SGD you wish to use to purchase MATIC
- Verify the transfer
#1 Deposit 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. However, it may take a longer time for your funds to be processed compared to Xfers Direct.
#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 MATIC and click on Buy
You’ll need to scroll down to find MATIC, and then click on ‘Buy‘.
#4 Select the amount of SGD you wish to use to purchase MATIC
You will need to select the amount of SGD that you wish to use for your trade. The amount of MATIC that you receive will be based on the prevailing market rates.
You may want to note that you can only buy or sell MATIC at this point in time. You are unable to send or receive MATIC to and from an external wallet.
Coinhako has a minimum of $0.50 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 reduction in fees would help to increase your returns!
It is also possible to buy MATIC 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.
MATIC 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.
However, it may take a longer time for your funds to appear in your account if you use FAST compared to 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 MATIC directly from 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 40+ different currencies directly from SGD!
Here’s how you can buy MATIC on Tokenize:
- Deposit your funds
- Go to ‘Market’
- Select SGD/MATIC 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.
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/MATIC as your trading pair
You can select the SGD/MATIC trading pair via the search bar:
#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 MATIC that you wish to pay.
This gives you more control over the price that you want to pay for each MATIC.
Meanwhile, market orders will purchase MATIC 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 MATIC that you wish to buy.
#5 Make the trade
After you’ve confirmed your trade, MATIC will be credited into your wallet.
(min. $1 SGD)
The 0.80% fee is slightly cheaper than Coinhako. However, you’ll need to take note of the $1 minimum fee.
Moreover, you’ll need to pay a fee for each deposit and withdrawal you make!
You’ll need to decide if paying these extra fees is worth it to gain access to a greater variety of currencies!
Gemini is another platform that allows you to buy MATIC directly from SGD. However the fees can be quite high!
First, you’ll need to deposit your funds via Xfers.
After that, you can use the Gemini Exchange to buy MATIC immediately.
|Trade Amount (SGD)||Trading Fee (SGD)|
|> $15.00 but ≤ $35.00||$2.00|
|> $35.00 but ≤ $70.00||$2.75|
|> $70.00 but ≤ $250.00||$4.00|
|> $250.00||1.49% of your Web Order value|
It is definitely not worth trading any amount that is below $250 SGD.
Moreover, you can only buy MATIC from USD on Gemini’s Active Trader platform.
Since Gemini does not allow you to convert SGD to USD, the only way would be to send USD over to Gemini via wire transfer.
Although Gemini has a great user interface, it may not be the most cost effective option to buy MATIC from Singapore!
Nevertheless, Gemini allows you to earn interest on MATIC.
If you intend to buy and hold MATIC, then you can consider earning some interest on your tokens.
However, you can’t buy MATIC directly from SGD.
Instead, you’ll need to make at least 2 trades to purchase MATIC.
How to buy Polygon (MATIC) on Crypto.com
Here are the steps you’ll need to do to buy MATIC on Crypto.com:
- Go to Crypto Wallet
- Scroll down and find MATIC
- Click on ‘Buy MATIC’
- 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 Scroll down and find MATIC
If you don’t have any Polygon in your Crypto.com wallet, you’ll need to scroll down to find the currency.
You can use the search function to find MATIC, as there are quite a lot of currencies available on the app!
#3 Click on ‘Buy MATIC’
You will be on the MATIC price page. You’ll need to tap on ‘Buy MATIC‘ to make the trade.
#4 Select your payment method
Similar to Coinhako, you cannot decide on the rate that you wish to buy MATIC at. Instead, it will be done at the prevailing market rate.
There are 3 payment methods that you can use to buy MATIC on Crypto.com:
1. Debit or credit card
You can use either a credit or debit card to purchase MATIC directly.
This would probably the most efficient way of buying MATIC. 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 MATIC 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 MATIC.
You can only buy MATIC using either CRO, BTC or USDT.
3. Fiat wallet
The final way that you can buy MATIC 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 MATIC from either a EUR or AUD fiat account.
This is because there are only 8 cryptocurrencies that you can purchase from Xfers:
If you want to buy MATIC with SGD, here are the steps that you’ll need to do:
- Purchase CRO, BTC or USDT with SGD from your fiat wallet
- Purchase MATIC 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, MATIC will be credited to your account.
Here are the fees that you’ll incur with Crypto.com:
|Type of Fee||Amount|
|Deposit Fees |
|0.4% per |
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.
Coinbase only allows you to purchase MATIC 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 MATIC in Singapore. You are charged a really high fee of 3.99%.
As such, you should only use this platform as a last resort!
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 MATIC.
Here’s what you need to do to buy MATIC on AAX:
- Deposit SGD into AAX
- Use the Exchange feature to exchange SGD to USDT
- Find the MATIC/USDT trading pair
- Make the trade
#1 Deposit SGD into AAX
First, you’ll need to deposit SGD into your AAX account.
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‘.
The Exchange platform allows you to buy USDT from your SGD.
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 MATIC/USDT trading pair
Once you’ve exchanged your SGD for USDT, you can now go to AAX’s trading platform.
This can be done by selecting ‘Spot’ on the menu.
After that, you’ll need to select a trading pair with MATIC.
#4 Make the trade
After selecting MATIC/USDT as your trading pair, you’ll need to decide on the order type:
- Stop order
You’ll also need to enter the details of the trade you wish to make.
- The price of USDT you want to buy 1 MATIC at
- The amount of MATIC you wish to buy
Once the trade has been filled, MATIC will be credited into your account.
Here are the fees and minimums when you’re trading on AAX:
|Deposit Fees||$35 if deposit < $1500, |
none if deposit ≥ $1500
|Trading Fees||Up to 0.1%|
|Withdrawal Fees||0.3% (Minimum $10)|
|Sending Fees||Depends 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!
However, you’ll still need to make 2 trades to get MATIC!
I would think that AAX is suitable only if you intend to trade a large amount of crypto.
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 from one exchange, and then send it to these exchanges.
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 from Gemini.
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.
They offer one of the cheapest fees when it comes to trading crypto!
Here’s what you need to buy MATIC on FTX:
- Deposit BTC into FTX
- Select a trading pair with MATIC
- Enter the details of your order
#1 Deposit BTC into FTX
While FTX supports SGD, there are no SGD trading pairs with cryptocurrency on the platform.
You can only trade SGD for USD, but the volume is really low!
You may want to deposit BTC into FTX, since MATIC has a trading pair with BTC.
You’ll need to go to ‘Wallet‘,
and then deposit BTC into FTX.
#2 Select a trading pair with MATIC
Once you’ve deposited BTC, you can start to trade them for MATIC.
You’ll need to go to the hamburger icon on the left hand side of FTX’s platform,
and then search for ‘MATIC‘ under Spot.
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:
- Stop market
- Stop limit
- Trailing stop
- Take profit
- Take profit limit
After selecting your order type, you’ll need to:
- Select the amount of BTC you want to buy 1 MATIC at
- Select the amount of MATIC you want to buy
Once your order has been processed, MATIC will be credited into your account.
Due to its rather low fees, FTX can be a platform that you can consider if you want to reduce your costs.
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 MATIC 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.
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.
This platform allows you to buy crypto from SGD, such as:
Most of these currencies will have a trading pair with MATIC.
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 MATIC
After depositing your crypto, you’ll have to buy MATIC on Binance’s trading platform.
Here are some trading pairs that you can trade for MATIC on Binance:
After selecting your trading pair, you can start to determine the details of your order.
You’ll need to decide on:
- The price that you’d like to buy 1 MATIC at
- The amount of MATIC you wish to buy
Once you make the trade, MATIC will be credited into your account.
Here are the fees that you’ll incur on Binance:
|Trading Fee||Up to 0.1%|
|Withdrawal Fee||12 MATIC|
The trading fees on Binance are as low as Luno Exchange!
However, it is also quite a hassle to buy MATIC 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 MATIC than you initially expected.
Furthermore, you may need to think of the strategy you wish to use to sell your MATIC and receive SGD too.
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 MATIC on Huobi:
- Deposit a cryptocurrency into Huobi
- Select a trading pair
- Select the type of order you wish to make
- Select the quantity of MATIC 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 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‘.
You’ll be brought to Huobi’s exchange platform.
You’ll need to find a trading pair with MATIC, which can be done at the left hand side of the platform.
Here are some of the trading pairs on Huobi:
#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 MATIC you wish to buy
After you’ve selected your order, you’ll need to select the amount of MATIC you wish to buy.
Once the trade has been executed, your MATIC will be credited into your account.
Here are the fees that you’ll incur when trading with Huobi:
|Type of Fee||Fee Amount|
|Trading Fees||From 0.20%|
|MATIC Withdrawal Fee||~ 6 MATIC|
The trading fees are slightly higher compared to Binance. However, the withdrawal fees are slightly cheaper!
There are quite a number of ways that you can buy MATIC directly from SGD. This includes:
- Gemini (Exchange)
However, the fees for trading using these platforms would be higher.
For the other exchanges, you will need to make at least 2 trades before you can buy MATIC from SGD.
👉🏻 Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
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)!
Here’s what you need to do:
- Sign up for a Tokenize account
- Trade at least $1000 USD worth of crypto
- Receive 5 TKX in your Tokenize wallet
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.
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 and enter the code ‘x2kfzusxq6‘.
We will both receive $25 USD worth of CRO in our Crypto Wallet.
Here’s what you’ll need to do:
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- Stake enough CRO to unlock a Ruby Steel card or higher
The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.
You can read more about the referral program on Crypto.com’s website.
Coinbase Referral (Receive USD $10 worth of BTC)
If you are interested in signing up for Coinbase, you can use my referral link.
You are able to earn USD $10 worth of BTC in your wallet!
Here’s what you need to do to earn this reward:
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FTX Referral (5% trading fee discount)
If you are interested in signing up for a FTX account, you can use my referral link.
You will receive a 5% trading fee discount for any trades that you make.
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You will be able to receive 5% off all of your trading fees on Binance!
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