USDT is one of the stablecoins that are pegged to the USD.
If you are looking to buy a certain cryptocurrency, it will most probably have a trading pair with USDT.
However, not many platforms allow you to buy USDT from Singapore!
So how do you go about buying this stablecoin?
Table of Contents
- How to buy USDT in Singapore
- Crypto.com (App)
- Crypto.com (Exchange)
- Binance (P2P)
- Binance (Credit Card)
- Tokenize Referral (Get 10 TKX worth ~ $50 SGD)
- Coinut Referral (Receive 37 DAI worth $49 SGD)
- Crypto.com Referral (Get $25 USD worth of CRO)
- Crypto.com Exchange Referral (Earn $10 USD- $50 USD in CRO)
- Binance Referral (Receive 5% off your trading fees)
How to buy USDT in Singapore
Here are 7 ways you can buy USDT in Singapore:
This is a summary of all of these methods:
|Tokenize||Trading||0.8% (Min $1)|
|Coinut||Trading||Up to 0.5%|
|AAX||Exchange||Up to 0.1%|
|Instant Buy||None (But may have |
|Trading||Up to 0.16%|
And here is each method explained in-depth:
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 USDT on Tokenize:
- Deposit your funds
- Go to ‘Market’
- Select SGD/USDT 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, 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/USDT as your trading pair
You can select the SGD/USDT trading pair from the list below:
#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 USDT that you wish to pay.
This gives you more control over the price that you want to pay for each USDT.
Meanwhile, market orders will purchase USDT 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 USDT that you wish to buy.
#5 Make the trade
After you’ve confirmed your trade, your USDT will be credited into your wallet.
|Trading Fees||0.8%, |
minimum $1 SGD
|Withdrawal Fee (SGD)||0.55%|
|Withdrawal Fee (USDT)||USDT 20|
The trading fee is rather high, at 0.80%. However, it is still lower than other platforms like Coinhako.
If you intend to send your USDT to another platform, the fees are rather hefty too!
You’ll need to decide if paying these extra fees is worth it to gain access to a greater variety of currencies!
Coinut is another exchange that is founded in Singapore, and allows you to buy USDT directly from your SGD.
However, it is not as well known as other exchanges.
Here’s what you need to do to purchase USDT on Coinut’s platform:
- Deposit your SGD via bank transfer
- Go to ‘Trade’
- Choose the quantity that you wish to buy
- Make the trade
#1 Deposit your SGD via bank transfer
You can deposit your SGD directly to Coinut via FAST! This is much easier compared to transferring your money to your Xfers wallet.
However, you may want to take note that the minimum deposit is $100.
#2 Go to ‘Trade’
After depositing your money into Coinut, you can go to the trading platform.
This is similar to Gemini’s Active Trader platform.
Don’t forget to set USDT/SGD as your trading pair!
#3 Choose the quantity that you wish to buy
On the same page, you can determine the ‘buy’ trade that you want to make. There are 2 types of trades:
For limit orders, you are able to set the maximum price of USDT that you’re willing to pay for.
This gives you some control on the price that you buy your USDT at.
However for Market orders, you will just purchase USDT at the prevailing market rate.
This helps you to fill your order right away.
As such, you have 2 different options to purchase USDT on Coinut.
#4 Make the trade
Once a seller has been found, your trade order will be executed.
The USDT will be credited into your Coinut portfolio.
Here are the fees and minimum amounts for Coinut:
|Withdrawal Fee (SGD)||0.1% |
Minimum $10 SGD
|Withdrawal Fee (USDT)||USDT 4|
The trading fee for Coinut is rather low (0.50%). However, you’ll need to consider both the:
- Minimum deposit
- Withdrawal fee
Moreover, the liquidity of the exchange seems rather low. I logged into the platform at 11pm, but the latest orders were carried out at 12pm!
If you use Coinut to trade, you may find it hard to fill your order. If you don’t want to wait for the right price, you may just want to use a market order.
Atom Asset Exchange (AAX) was founded in 2018, and is based in Hong Kong.
This exchange allows you to deposit SGD into your account. You are able to buy USDT directly from SGD!
Here’s what you need to do to buy USDT on AAX:
- Deposit SGD into AAX
- Go to the Exchange feature
- Select the amount of SGD you wish to exchange
- Make the exchange
#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 Go to the Exchange feature
Once you have your SGD into your account, you’ll need to go to ‘Buy Crypto → Exchange‘.
The Exchange platform allows you to buy BTC or USDT from your SGD.
#3 Select the amount of SGD you wish to exchange
When you’re at the Exchange, you’ll need to enter the amount of SGD that you’d like to change to USDT.
You would need to exchange a minimum of $10 into USDT.
#4 Make the exchange
After selecting ‘Get price’, you will be shown the amount of USDT you’ll receive from SGD.
AAX does not charge any fees for this conversion. However, the exchange rate may be slightly less favourable compared to the market rate.
After clicking ‘Exchange now’, the USDT 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!
The trading fees do not apply to exchanging between SGD and USDT. They only apply to the Spot platform, when you want to buy other altcoins from the USDT you have.
AAX may be one of the most efficient ways of buying USDT. Furthermore, they do have quite a large variety of currencies that you can trade from USDT on their platform!
The main drawback is the deposit fee that you’ll have to pay if you deposit less than $1.5k SGD. You’ll need to be a serious trader in crypto if you wish to use this platform!
Crypto.com is another platform that offers Xfers support. However, you are unable to buy USDT directly from your SGD!
Instead, you’ll need to make at least 2 trades to purchase USDT.
Here’s what you need to do:
- Go to Crypto Wallet
- Tap on ‘Buy USDT’
- 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 Tap on ‘Buy USDT’
You will be on the USDT price page. You’ll need to tap on ‘Buy USDT‘ to make the trade.
#3 Select your payment method
You cannot decide on the rate that you wish to buy USDT at. Instead, it will be done at the prevailing market rate.
There are 3 payment methods that you can use to buy USDT on Crypto.com:
1. Debit or credit card
You can use either a credit or debit card to purchase USDT directly.
This would probably the most efficient way of buying USDT. 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 USDT 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 USDT.
If you have any spare CRO or other currencies, you can trade them to USDT immediately!
3. Fiat wallet
The final way that you can buy USDT 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 USDT from either a EUR or AUD fiat account.
Unlike Coinhako, you are unable to purchase USDT via Xfers!
This is because there are only 8 cryptocurrencies that you can purchase from Xfers:
If you want to buy USDT with SGD, here are the steps that you’ll need to do:
- Buy any of the 8 currencies above
- Purchase USDT using the crypto wallet (method 2)
However, you may incur a spread when trading via this method. Even though you are not charged any trading fees, you may still lose some money when you make both trades.
#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, the USDT will be credited to your account.
Here are the fees that you’ll incur with Crypto.com:
|Type of Fee||Amount|
|Withdrawal Fee (SGD)||0.4% per withdrawal (Xfers)|
|Withdrawal Fee (USDT)||USDT 18|
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
Crypto.com does not disclose the spreads that they charge, so it is quite hard to tell for sure how much you’re losing.
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.
If you are looking for a more cost effective way of buying other crypto using Crypto.com, you can consider using their exchange platform instead.
This platform is separate from the app, and you’ll need to create a separate account for it.
If you are interested in signing up for a Crypto.com Exchange account and stake at least 1,000 CRO, you can earn between $10-50 USD worth of CRO!
For this exchange, you aren’t able to trade your SGD for any of the currencies.
Instead, there are 3 main trading pairs that you can use:
So how do you go about buying USDT on Crypto.com’s Exchange platform?
#1 Buy CRO or BTC directly from SGD
On the Crypto.com app, you can buy either CRO or BTC directly from your Xfers wallet.
The crypto will be credited into your Crypto.com app wallet.
#2 Transfer your CRO to Crypto.com Exchange
After you have received your CRO or BTC, you will need to transfer it to the Crypto.com Exchange platform.
The transfer between the app and the exchange platforms is free.
On the currency’s page, you’ll need to go to ‘Transfer‘,
click on ‘Withdraw‘,
and then tap on ‘Crypto.com Exchange‘.
After selecting the amount, the CRO will be deposited in your Exchange account.
#3 Select CRO/USDT as your trading pair
On the Exchange platform, you’ll need to go to ‘Spot‘,
and select CRO/USDT as the trading pair.
If you want to trade using BTC, you can use the BTC/USDT trading pair too.
#4 Select the amount and make the trade
You can choose between 4 different types of trades on Crypto.com Exchange:
- Stop Limit
- Stop Loss
After selecting the price and the amount that you wish to buy, you can make the trade.
One thing I do not like about Crypto.com’s Exchange platform is that you are unable to see the fee that you’ll incur.
Is this process really worth all the hassle? Why not just make the trade between CRO and USDT in the app?
Here is the price of 1 USDT in CRO in the Crypto.com app,
compared to the prevailing market rate on the Exchange platform at around the same time.
This amounts to 1 USDT : 4.77 CRO.
You are paying about an additional 0.07 CRO for every USDT that you buy on the app.
While this may seem very little, it will become significant if you are trading a large sum of money!
Moreover, you are able to select the price that you want to buy your USDT at with a Limit order. This means that the amount that you pay may be even lower!
The trading fees start from between 0.10% to 0.16%.
If you are looking to buy USDT frequently, this method may be slightly more cost effective compared to buying via the app!
Another way that you can buy USDT directly from SGD is by using the Binance P2P platform.
On this platform, you will be transferring your SGD to one of the advertisers on the platform. In return, Binance will facilitate the transfer of USDT from the advertiser to you.
You can transfer your SGD to the advertiser via a variety of methods, such as:
- Bank transfer
- Google Pay
Binance’s P2P platform allows you to buy USDT directly from SGD with an advertiser on the platform.
You are not charged any fees when you use the Binance P2P platform.
However, trading crypto via a P2P platform can be rather risky. There may be some scammers lurking around the platform.
Binance has tried to curb these scammers by placing requirements that you need to meet before you can advertise on their platform.
Nevertheless, you’ll still need to be very careful when trading on this platform.
I would suggest only trading a small amount each time. In this way, you will not be largely affected if the advertiser truly turns out to be a scammer!
Binance (Credit Card)
If you don’t want to use the P2P platform, you can choose to buy USDT on Binance using your credit or debit card.
However, you will incur a 1% credit card fee for every purchase.
The fee for buying USDT using a credit or debit card is 1%, which is slightly higher than Tokenize.
However, Tokenize charges a minimum withdrawal fee of 20 USDT.
If you are looking to use USDT to trade for ‘rarer’ altcoins on Binance, then you can consider this method.
This is because most cryptocurrencies on Binance will have a USDT trading pair.
Compared to other methods, buying USDT directly from Binance may help you to save on the hefty USDT sending fees!
Buying stablecoins directly from SGD is much harder compared to other currencies.
If you want to buy USDT, there are 3 main methods to buy it directly from SGD:
You’ll have to make at least 2 different trades if you use Crypto.com!
If you are looking to trade USDT for other currencies, then Binance may be the best way to do it.
Although the fee is much higher at 1%, you will save on the sending fees which are quite high for both Crypto.com and Tokenize!
Tokenize Referral (Get 10 TKX worth ~ $50 SGD)
If you are interested in signing up for a Tokenize account, you can use my referral link.
You will be able to receive 10 TKX in your account (worth ~$50 SGD)!
Here’s what you need to do:
- Sign up for a Tokenize account
- Trade at least $1000 USD worth of crypto
- Receive 10 TKX in your Tokenize wallet
Coinut Referral (Receive 37 DAI worth $49 SGD)
If you are interested in signing up for a Coinut account, you can use my referral link.
You will be able to receive 37 DAI upon signing up!
Here’s what you’ll need to do:
- Sign up for a Coinut account and complete your KYC assessment
- Trade ≥ $100 USD worth of crypto using a Market Order (using SGD) within 180 days of registering your account
Once you’ve completed the 2 steps, you’ll receive 37 DAI in your account.
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. We will both receive $25 USD worth of CRO in our Crypto Wallet.
Here’s what you’ll need to do:
- Sign up for a Crypto.com account
- Enter my referral code: ‘x2kfzusxq6‘
- Sign up for a MCO Ruby Card by staking 5,000 CRO
You can read more about the referral program on Crypto.com’s website.
Crypto.com Exchange Referral (Earn $10 USD- $50 USD in CRO)
If you are interested in creating a Crypto.com Exchange account, you can use my referral link.
Depending on the amount of CRO you stake on the Crypto.com Exchange, you are able to earn between USD $10 to USD $50!
Here are the amounts that you’ll need to stake to receive the bonuses:
|Amount of |
|1,000 – 4,999 CRO||$10|
|≥ 5,000 CRO||$50|
If you’ve already signed up for the Crypto.com app, you can still sign up for this bonus! This is because the Crypto.com App and Exchange are 2 different platforms.
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!