22 May How to buy Bitcoin in Singapore (2019)
An update to my previous article, there are several alternatives to buying Bitcoin with fiat money in Singapore.
- Binance SG
- Gemini
- Paxos
- Coinhako
- OTC platform (https://t.me/CryptoSGOTC)
Binance SG
The Singapore arm of Binance, Binance SG is partnered with Xfers as their payment processor.
Pros:
- Deposit is automatic (almost immediate), up to $10,000 per day
- Reputable exchange
- Fairly good fees at 0.80%
Cons:
- No orderbook, just simply buy and sell at the quoted price
Gemini
An update from my previous article on Gemini, they have since increased their fees to 1.49% trading fees + 0.50% convenience fees.
On main page:
On trading confirmation page:
As you can see there’s a mark up of 0.50% convenience fees. The only reason you will use Gemini now is the liqudity + size.
*Information courtesy of Collin from Cryptosg
Paxos
Paxos is a stablecoin, and you can purchase Paxos with their partner exchange itBit. You must make a TT transfer to the bank account (similar to Gemini) and purchase Bitcoin/ETH.
Pros:
- Good fees at 0.35%
- There is an orderbook
Cons:
- Deposit is not immediate, takes 1 working day
Coinhako
Please see the article here and remember to use code “PENNYWISE” to reduce the fees to 0.7%
OTC Platform
You can also buy straight OTC(over the counter) from other people. The fees quoted are between each other and deals can be done faster. However, be careful of scams and do your own due diligence. Please join the Telegram group (https://t.me/CryptoSGOTC)
There is also a google sheet done by Collin, a community member – https://docs.google.com/spreadsheets/d/1NPox3q52kaPYmph7DbfcKQ_V8q4S-RVFlQN3HI6sTj0/edit?usp=sharing
No Comments