Crypto Invest

6 Ways You Can Buy Siacoin In Singapore

How To Buy Siacoin In Singapore

Last updated on June 6th, 2021

This article contains affiliate links. You can read more about these links in my Editorial Guidelines.

Siacoin is the native token of the Sia network, which is something similar to Google Cloud.

However, very few crypto exchanges allow you to buy Siacoin directly from SGD!

So how do you go about buying this coin?

Here’s what you need to know.

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!

How to buy Siacoin in Singapore

Here are 6 ways you can buy Siacoin in Singapore:

  1. Crypto.com (App)
  2. Binance
  3. Kraken
  4. Bittrex
  5. Huobi
  6. OKEx

This is a summary of all of the methods you can use,

PlatformType of
Transaction
Trading Fees
Crypto.com
(App)
Instant BuyNone (but may
have high spread)
BinanceTradingUp to 0.1%
KrakenTradingUp to 0.26%
BittrexTradingUp to 0.35%
HuobiTradingUp to 0.2%
OKExTradingUp to 0.1%

and here is each method explained in depth:

Crypto.com (App)

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

You can’t buy Siacoin directly from SGD on Crypto.com. Instead, you’ll need to make at least 2 trades to buy Siacoin.

How to buy Siacoin on Crypto.com

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

  1. Go to Crypto Wallet
  2. Scroll down and find SC
  3. Click on ‘Buy SC’
  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 SC

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

Crypto.com Select Siacoin

It may take a while to find it, as Crypto.com does not have a search function!

#3 Click on ‘Buy SC’

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

Crypto.com App Buy Siacoin

#4 Select your payment method

Since you are using the Crypto.com App, you can only buy SC at the prevailing market rate.

This is different from the Crypto.com Exchange, which allows you to trade SC with other traders.

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

1. Debit or credit card

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

Crypto.com App Buy Siacoin Credit Card

This would probably the most efficient way of buying Siacoin. 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 SC 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 SC.

Crypto.com App Buy Siacoin Crypto Wallet

You can only buy SC from either BTC, CRO or USDT.

3. Fiat wallet

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

Crypto.com App Buy Siacoin 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 Siacoin 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 Siacoin with SGD, here are the steps that you’ll need to do:

  1. Buy BTC or CRO with SGD from your fiat wallet (Xfers)
  2. Purchase Siacoin from CRO or BTC from 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, SC will be credited to your account.

Verdict

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

Type of FeeAmount
Deposit FeesNone
Trading FeesNone
Withdrawal Fee0.4% per
withdrawal (Xfers)

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

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.

The Crypto.com App is very convenient as you can buy SC with SGD. For the other methods, you aren’t able to do so, as these platforms do not support SGD.

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.

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 from Gemini.

Gemini SGD Trading Pairs

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.

Gemini No Withdrawal Fee

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 Siacoin using a credit card, nor directly from your 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 Buy ETH

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 SC.

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 Siacoin

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

Binance Trading Platform

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

  1. SC/BTC
  2. SC/USDT
  3. SC/BNB
  4. SC/ETH
Binance Siacoin Trading Pairs

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

Binance Buy Siacoin From BTC

You’ll need to decide on:

  1. The amount of BTC you want to trade
  2. The price of SC you want to buy at

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

Verdict

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

Type of FeesFee Amount
Deposit FeesNone
Trading FeesUp to 0.1%

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

However, it is also quite a hassle to buy Siacoin 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 SC than you initially expected!

Kraken

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 Siacoin on Kraken

Here’s what you need to do to buy Siacoin on Kraken:

  1. Deposit a currency into Kraken (fiat or crypto)
  2. Go to ‘Trade’
  3. Select a trading pair with SC
  4. Enter the amount that you wish to pay
  5. 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.

Kraken Funding Tab

From there, you can deposit a wide variety of fiat or cryptocurrencies:

Kraken Deposit Balances
FiatCrypto
AUDBTC
CADETH
EURLTC
GBPXRP
CHFUSDT
USD
JPY

If you have any of the fiat currencies, you are able to do a wire transfer.

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 SC.

Kraken Trade Tab

#3 Select a trading pair with Siacoin

If you are using Kraken for the first time, you will be in the ‘Simple‘ interface.

Kraken Trade Simple Interface 1 1

If you wish to use this interface, you’ll need to select your trading pair above.

Kraken Choose Trading Pair On Simple

You can choose to go to the Intermediate interface too, where you can select your preferred trading pair.

Kraken Trade Intermediate Interface

From there, you can select a trading pair with SC.

Kraken Siacoin Trading Pairs

There are only 4 trading pairs where you can buy Siacoin on 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.

Kraken Buy Siacoin From BTC

#5 Execute the order

Once your trade is executed, SC will be credited into your account.

Verdict

Here are the fees that you’ll incur when using Kraken:

FeesAmount
Trading feesUp 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 Siacoin from.

Bittrex

Bittrex was founded in 2014 and is headquartered in the USA.

Here’s what you need to do to buy SC on Bittrex:

  1. Deposit a currency into Bittrex
  2. Go to the ‘Markets’ tab and search for SC
  3. Enter the details of your trade
  4. Execute the trade

#1 Deposit a currency into Bittrex

Bittrex does not support SGD on their platform. As such, you’ll need to deposit either BTC, ETH or USDT into their platform.

This is because Bittrex offers BTC, ETH or USDT trading pairs with Siacoin on their platform.

Bittrex Siacoin Trading Pairs

You will need to go to ‘Holdings‘,

Bittrex Select Holdings Tab

and then use the search function to deposit these currencies.

Bittrex Deposit BTC Search

You will be given a wallet address that you can send your crypto to.

Bittrex Deposit Crypto

Do remember to double check the wallet address before sending your crypto!

#2 Go to the ‘Markets’ tab and search for SC

Once you have deposited your crypto into Bittrex, you can start buying SC from these currencies.

You’ll need to go to the ‘Markets’ tab,

Bittrex Markets Tab

and then search for Siacoin.

Bittrex Siacoin Trading Pairs 2

You will see the available trading pairs for SC.

#3 Enter the details of your trade

Once you have selected the trading pair, you will be directed to Bittrex’s trading platform.

Bittrex Trading Platform

It can seem quite overwhelming, but you’ll need to enter the details of your trade on the right-hand side.

Bittrex Buy Siacoin From Bitcoin

There are 6 different order types that you can make:

  1. Limit
  2. Market
  3. Stop Limit
  4. Trailing
  5. OCO
  6. Ladder Limit

You’ll also need to include these details:

  1. The price of BTC that you wish to buy 1 SC at
  2. The amount of SC you wish to buy

#4 Execute the trade

After you’ve placed the order, it will go into Bittrex’s order book.

Once your trade has been completed, SC will be credited into your account.

Verdict

Here are the fees that you’ll incur when trading on Bittrex:

FeeAmount
Trading FeesUp to 0.35%
SC Withdrawal Fee0.1 SC

The trading fees are slightly higher than other platforms. As such, you may want to consider those platforms first before using Bittrex.

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 Siacoin 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 SC 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 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’.

Huobi Spot Trading

You’ll be brought to the exchange platform, which can be rather overwhelming.

Huobi Exchange Platform

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

Huobi Siacoin Trading Pairs

There are fewer trading pairs on Huobi compared to Binance:

  1. SC/USDT
  2. SC/BTC
  3. SC/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 SC you wish to buy

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

Huobi Buy SC From BTC

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

Verdict

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

Type of FeeFee Amount
Trading FeesFrom 0.20%
Withdrawal FeesDepends on currency

The fees are slightly higher compared to Binance. If you are looking for an exchange to trade your cryptocurrencies, Binance may be the better choice.

OKEx

OKEx is another crypto exchange that you can consider buying SC coin from.

Here’s how you can buy SC on OKEx:

  1. Deposit USDT or BTC into OKEx
  2. Select a trading pair with SC
  3. Enter the details of your trade
  4. Execute the trade

#1 Deposit USDT or BTC into OKEx

OKEx offers a SC trading pair with either USDT or BTC.

As such, you should only be depositing either of these currencies into OKEx!

You’ll need to go to ‘Assets → Deposit‘,

OKEx Assets Deposit

and then select USDT or BTC as the currency you wish to deposit.

There are 4 different USDT networks that you can deposit your USDT into OKEx:

  1. USDT-TRC20
  2. USDT-ERC20
  3. USDT-ALGO
  4. USDT-OKExChain
OKEx USDT Supported Networks

Usually, most of your USDT should be ERC20 tokens on the Ethereum blockchain. It’ll be good if you double check which network your USDT is on.

If you send your USDT to the wrong address, it will be lost forever!

You can buy USDT from your credit card, but the fees may be expensive

Another way that you can buy USDT or BTC on OKEx is by using a credit card.

OKEx Buy USDT With Credit Card

You’ll need to choose an external payment provider.

OKEx Credit Card Payment Providers

The fees that you incur may vary between these payment providers.

While it is more convenient, the amount of fees that you pay may be quite high!

#2 Select a trading pair with SC

Once you have BTC or USDT in your OKEx account, you can start trading SC.

You’ll need to go to ‘Trade → Basic Trading‘,

OKEx Select Basic Trading

which brings you to OKEx’s trading platform.

OKEx Trading Platform

You will need to select the SC/USDT or SC/BTC trading pair from the search bar.

OKEx Siacoin Trading Pairs

#3 Enter the details of your trade

You are able to make 5 different types of orders you can make on OKEx:

  1. Limit
  2. Market
  3. Stop
  4. Trigger
  5. Advanced Limit
OKEx Buy Siacoin From BTC

You’ll also need to enter:

  1. The price that you want to pay for 1 SC
  2. The amount of SC you want to buy

#4 Execute the trade

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

Verdict

OKEx charges up to 0.1% for their trading fees.

This is slightly cheaper compared to Huobi!

You can consider using either OKEx or Binance, since they charge lower trading fees compared to the other platforms.

Conclusion

There are no crypto exchanges that allow you to buy Siacoin directly from SGD.

The closest method would be to use the Crypto.com App, which allows you to buy Siacoin from SGD after 2 trades.

For all the other platforms, they do not offer any SGD support.

As such, you may need to transfer a cryptocurrency to the platform (usually BTC or USDT), before you can make the trade!

👉🏻 Referral Deals

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

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.

Crypto.com Referral

Here’s what you’ll need to do:

  1. Sign up for a Crypto.com account
  2. Enter my referral code: ‘x2kfzusxq6
  3. 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.

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!

OKEx Referral (Receive USD $10 of BTC)

If you are interested in signing up for an OKEx account, you can use my referral link. If you make a crypto purchase of ≥ $100 USD via Buy / Sell, we will both receive USD $10 worth of BTC.

Here’s what you need to do:

  1. Sign up for an OKEx account
  2. Go to Buy/Sell to buy crypto from a variety of methods (e.g. Credit Card or PayNow)
  3. Buy ≥ $100 USD worth of crypto
  4. Receive $10 USD worth of BTC in your OKEx account

If you use OKEx’s Buy/Sell feature, you will be buying your crypto from a 3rd-party payment provider.

OKEx Credit Card Payment Providers

The fees may vary, but the $10 USD credit should be able to help to pay for your trading fees!


undraw pcsocial 16rw

Do you like the content on this blog?

To receive the latest updates from my blog and personal finance in general, you can follow me on Telegram and Facebook.

Are you passionate about personal finance and want to earn some flexible income?

You Might Also Like

    Total
    0
    Share