8 Ways You Can Buy Ripple (XRP) In Singapore

Last updated on January 19th, 2022

You’ve decided to add some Ripple (XRP) into your crypto portfolio. However, it is not as easily accessible in Singapore compared to other currencies like Ethereum!

So how do you go about buying XRP in Singapore?

Here’s what you need to know.

How to buy XRP (Ripple) in Singapore

Here are 8 exchanges where you can purchase XRP (Ripple) directly from SGD:

1. Luno
2. Coinhako
3. Zipmex
4. Crypto.com
5. Binance Singapore
6. Liquid
7. Tokenize
8. Binance

This is a summary of all of the methods:

Platform	Type of Transaction	Fees
Luno	Instant Buy and Trading	0.75% (Instant Buy) and up to 0.1% (Exchange)
Coinhako	Instant Buy	0.8% – 1%
Zipmex	Trading	0.2%
Crypto.com (App)	Instant Buy	None (But may have large spread)
Binance Singapore	Instant Buy	0.6%
Liquid	Trading	Up to 0.3%
Tokenize	Trading	0.8% (Min $1)
Binance	Instant Buy	1%

And here is each method explained in-depth:

Luno

Luno offers you an easy way to purchase XRP from your SGD.

You are able to transfer your funds via Xfers to your SGD cash wallet in Luno to make the trade.

Xfers acts as a middleman between the crypto exchange and your bank account.

Here are the steps to buy XRP on Luno:

1. Create a XRP wallet
2. Tap on ‘Buy’ on the XRP wallet page
3. Transfer money from Xfers to Luno
4. Select how much XRP you wish to buy
5. Make the trade

#1 Create a XRP wallet

When you first start using Luno, you’ll need to create a Ripple wallet.

This will allow you to buy and sell XRP on Luno.

#2 Tap on ‘Buy’ on the XRP wallet page

When you’re on the XRP wallet page, you’ll need to tap on the ‘Buy‘ option.

You can select to purchase XRP from other cryptocurrencies, or from SGD.

#3 Transfer money from Xfers to Luno

If you wish to buy Ripple from SGD, you’ll need to transfer your SGD from your Xfers account first.

#4 Select how much XRP you wish to buy

You’ll need to select the amount of XRP that you wish to buy.

You’ll be able to see the fees that you incur as well.

#5 Make the trade

After the trade has been completed, the XRP will be deposited into your XRP wallet!

Verdict

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

Type of Fee	Amount
Deposit Fees	None
Trading Fees (Instant Buy)	1%
Withdrawal Fee	None

Luno’s Instant Buy fees are lower than Coinhako’s at 0.75%.

Luno also has an Exchange platform, where the fees are much cheaper at 0.75%.

However, the exchange only has BTC/SGD as their SGD trading pair.

If you want to buy XRP on Luno’s Exchange platform, here’s what you need to do:

1. Buy BTC from SGD (BTC/SGD trading pair)
2. Buy XRP from BTC (XRP/BTC trading pair)

This is slightly more troublesome compared to the Instant Buy. However, the fees that you pay will definitely be cheaper!

Coinhako

Coinhako allows you to buy XRP directly from SGD. Apart from Ripple, you can buy a wide variety of currencies like DOGE from your SGD too!

Here are the steps that you’ll need to do to buy Ripple on Coinhako:

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

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 XRP and click on Buy

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

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

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

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 XRP 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 XRP 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 Fee	Amount
Deposit Fees	None (FAST), 0.55% (Xfers)
Minimum Trade Amount	$0.5
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!

The fees that you incur are quite high compared to the other options.

Zipmex

Zipmex is an exchange that was founded in Thailand.

It offers you the option to buy crypto directly from SGD, and charges rather low fees too!

Here’s what you need to do to buy XRP on Zipmex:

1. Go to wallets and select SGD as the funds to deposit
2. Fill in the details of your deposit into Zipmex
3. Go to ‘Markets’ and select the XRP/SGD trading pair
4. Enter the details of your trade

#1 Go to wallets and select SGD as the funds to deposit

You’ll need to deposit SGD into Zipmex first.

To do so, you’ll need to go to ‘Wallets‘,

and then select ‘Deposit‘.

You’ll need to select SGD as the currency you wish to deposit.

#2 Fill in the details of your deposit into Zipmex

You are required to enter some details so that Zipmex can process your deposit.

This includes:

1. Deposit amount
2. Account number
3. The bank you’re depositing from

#3 Go to ‘Markets’ and select the XRP/SGD trading pair

After depositing SGD into Zipmex, you can start to use the trading platform.

You’ll need to go to ‘Markets’,

which will bring you to the trading platform.

At the left hand corner, you can select the XRP/SGD trading pair.

#4 Enter the details of your trade

The last thing you’ll need to do is to enter the details of your trade.

You are able to make 2 different types of orders:

1. Market order
2. Limit order

You’ll also need to enter the following details:

1. The price that you’d like to buy 1 XRP at
2. The amount of XRP you want to buy

When your trade is processed, XRP will be credited into your account.

Verdict

Here are the fees that you’ll incur with Zipmex:

Fee	Amount
Trading Fee	0.2%
SGD Withdrawal Fee	5 SGD

The trading fees on Zipmex are quite low!

However, the withdrawal fees are higher compared to other platforms.

This is a tradeoff that you may have to incur when trading on Zipmex.

Crypto.com

Crypto.com is a cryptocurrency exchange that was founded in Hong Kong. It has a huge user base across the world, and is constantly expanding their services.

With Xfers support, you are able to buy XRP directly from your SGD.

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

1. Go to Crypto Wallet
2. Click on ‘Buy XRP’
3. Select your payment method
4. 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‘.

Once you’ve found Ripple, you can tap on the wallet.

#2 Click on ‘Buy XRP’

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

#3 Select your payment method

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

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

1. Debit or credit card

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

This would probably the most efficient way of buying XRP. 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 XRP using your credit or debit card.

2. Crypto wallet

If you have other cryptocurrencies in your crypto wallet, you can use this to trade to XRP.

You can only use CRO or BTC from your crypto wallet to buy XRP.

3. Fiat wallet

You can purchase XRP directly from SGD using the 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

Crypto.com allows you to connect your Xfers wallet to the exchange. As such, you can buy XRP directly from your SGD.

#4 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 XRP will be credited to your account.

Verdict

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

Type of Fee	Amount
Deposit Fees	None
Trading Fees	None
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

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.

One advantage is that Crypto.com offers their Crypto Earn program. This allows you to earn interest on your XRP.

However, your XRP will be locked up for a maximum of 3 months if you want to earn the highest interest rates. This is less flexible compared to other crypto earning platforms, such as:

1. Celsius
2. BlockFi
3. Hodlnaut
4. YouHodler
5. Nexo

Binance Singapore

Binance Singapore is a separate exchange from Binance. This exchange allows you to purchase XRP from your SGD too.

Here’s what you need to do to purchase XRP 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.

#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.

The XRP will be bought at the prevailing market rate.

You can choose to purchase XRP 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 XRP will be credited into your portfolio.

Verdict

Here are the fees and minimum trading amounts that you’ll need to pay with Binance Singapore:

Type	Amount
Minimum Trading Amount	$20
Trading fees	0.60%
Withdrawal fees	None

The fees for Binance Singapore are quite high compared to the other exchanges.

However, it does provide a fuss-free way for you to buy XRP with your SGD.

Liquid

Liquid is a crypto exchange that is based in Japan. It allows you to transfer your SGD to the exchange, but the withdrawal fees are rather high.

Here’s what you need to buy XRP from SGD on Liquid:

1. Deposit your money via bank transfer
2. Go to Spot Trading
3. Select XRP/SGD as your trading pair
4. Select the quantity to trade
5. Make the trade

#1 Deposit your money via bank transfer

You’ll need to transfer your money via wire transfer to Liquid.

You are able to deposit SGD into your Liquid account.

#2 Go to Spot Trading

Once you’ve deposited your funds, you can go to ‘Spot Trading‘ to make the trade.

There are other options like Margin trading. However, they are too risky especially if you’re just starting to trade in crypto!

#3 Select XRP/SGD as your trading pair

You’ll need to select XRP/SGD as your trading pair.

#4 Select the quantity to trade

You’ll need to select the type of order that you wish to make:

1. Limit
2. Market
3. Stop
4. Stop limit

After that, you’ll need to select the amount of SGD or XRP that you wish to include in the trade.

#5 Make the trade

Once your trade is executed, the XRP will be added to your portfolio.

Verdict

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

Type	Amount
Trading fees	Up to 0.30%
SGD Withdrawal Fees (StraitsX)	0.55% (Min $4, Max $30)
Withdrawal Fees (Bank Transfer)	$15 SGD + $30 USD

The trading fees are one of the lowest that you can incur. However, the withdrawal fees can be pretty hefty!

You may want to send your XRP to another exchange that charges you lower withdrawal fees.

Tokenize

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 XRP on Tokenize:

1. Deposit your funds
2. Go to ‘Market’
3. Select SGD/XRP as your trading pair
4. Select the type of order and your trade amount
5. 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:

1. Xfers Direct Transfer
2. 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/XRP as your trading pair

You can select the SGD/XRP 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:

1. Limit
2. Market

Limit orders will allow you to determine the price of XRP that you wish to pay.

This gives you more control over the price that you want to pay for each XRP.

Meanwhile, market orders will purchase XRP 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 XRP that you wish to buy.

#5 Make the trade

After you’ve confirmed your trade, your XRP will be credited into your wallet.

Verdict

Here are the fees that you’ll need to pay when trading on Tokenize:

Fee Type	Amount
Deposit Fees	0.55%
Trading Fees	0.80% (min. $1 SGD)
Withdrawal Fee	0.55%

The 0.80% fee is slightly cheaper than Coinhako. However compared to other exchanges, the fee is pretty high.

Moreover, you’ll need to pay a fee for each deposit and withdrawal you make!

It may not be worth using Tokenize for XRP as there are more cost effective options out there.

Binance

Binance is one of the largest trading platforms in the world. You can choose to buy XRP using your credit or debit card.

However, you will incur a 1% credit card fee for every purchase.

Verdict

Binance is not a very cost effective way of buying Ripple. This is because XRP is found in many platforms, where you are charged a lower fee.

I would only recommend Binance if you are interested in buying altcoins that are less common, such as DOGE or ZIL.

This can be done via their trading platform, which helps you save on fees!

Conclusion

There are quite a few exchanges that allow you to buy Ripple directly from SGD.

With so many options out there, which one should you choose? Here are some considerations for you:

1. Ease of depositing and withdrawing your funds
2. The fees you’ll incur for trading and withdrawing your funds
3. The minimum trade amounts you’ll need to make

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