Last updated on June 6th, 2021
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.
How to buy Siacoin in Singapore
Here are 6 ways you can buy Siacoin in Singapore:
- Crypto.com (App)
This is a summary of all of the methods you can use,
|Instant Buy||None (but may |
have high spread)
|Binance||Trading||Up to 0.1%|
|Kraken||Trading||Up to 0.26%|
|Bittrex||Trading||Up to 0.35%|
|Huobi||Trading||Up to 0.2%|
|OKEx||Trading||Up to 0.1%|
and here is each method explained in depth:
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:
- Go to Crypto Wallet
- Scroll down and find SC
- Click on ‘Buy SC’
- 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 SC
If you don’t have any SC in your Crypto.com wallet, you’ll need to scroll down to find the currency.
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.
#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.
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.
3. Fiat wallet
The final way that you can buy Siacoin 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 Siacoin 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 Siacoin with SGD, here are the steps that you’ll need to do:
- Buy BTC or CRO with SGD from your fiat wallet (Xfers)
- 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.
Here are the fees that you’ll incur with Crypto.com:
|Type of Fee||Amount|
|Withdrawal Fee||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.
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.
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.
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.
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 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.
Here are the trading pairs that you can trade for SC on Binance:
After selecting your trading pair, you can start to determine the details of your order.
You’ll need to decide on:
- The amount of BTC you want to trade
- The price of SC you want to buy at
Once you make the trade, SC 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 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 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:
- Deposit a currency into Kraken (fiat or crypto)
- Go to ‘Trade’
- Select a trading pair with SC
- 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.
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.
#3 Select a trading pair with Siacoin
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 SC.
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.
#5 Execute the order
Once your trade is executed, SC 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 Siacoin from.
Bittrex was founded in 2014 and is headquartered in the USA.
Here’s what you need to do to buy SC on Bittrex:
- Deposit a currency into Bittrex
- Go to the ‘Markets’ tab and search for SC
- Enter the details of your trade
- Execute the trade
#1 Deposit a currency into Bittrex
This is because Bittrex offers BTC, ETH or USDT trading pairs with Siacoin on their platform.
You will need to go to ‘Holdings‘,
and then use the search function to deposit these currencies.
You will be given a wallet address that you can send your crypto to.
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,
and then search for Siacoin.
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.
It can seem quite overwhelming, but you’ll need to enter the details of your trade on the right-hand side.
There are 6 different order types that you can make:
- Stop Limit
- Ladder Limit
You’ll also need to include these details:
- The price of BTC that you wish to buy 1 SC at
- 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.
Here are the fees that you’ll incur when trading on Bittrex:
|Trading Fees||Up to 0.35%|
|SC Withdrawal Fee||0.1 SC|
The trading fees are slightly higher than other platforms. As such, you may want to consider those platforms first before using Bittrex.
Huobi 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:
- Deposit a cryptocurrency into Huobi
- Select a trading pair
- Select the type of order you wish to make
- 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‘.
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 Siacoin, which can be done at the left hand side of the platform.
There are fewer trading pairs on Huobi compared to Binance:
#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 SC you wish to buy
After you’ve selected your order, you’ll need to select the amount of SC you wish to buy.
Once the trade has been executed, your SC 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%|
|Withdrawal Fees||Depends 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 is another crypto exchange that you can consider buying SC coin from.
Here’s how you can buy SC on OKEx:
- Deposit USDT or BTC into OKEx
- Select a trading pair with SC
- Enter the details of your trade
- 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‘,
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:
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.
You’ll need to choose an external payment provider.
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‘,
which brings you to OKEx’s trading platform.
You will need to select the SC/USDT or SC/BTC trading pair from the search bar.
#3 Enter the details of your trade
You are able to make 5 different types of orders you can make on OKEx:
- Advanced Limit
You’ll also need to enter:
- The price that you want to pay for 1 SC
- 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.
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.
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!
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If you use OKEx’s Buy/Sell feature, you will be buying your crypto from a 3rd-party payment provider.
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