11 Jun Guide on buying cryptocurrencies ter Singapore
Buying with SGD:
Presently, there are Four exchanges that offerande cryptocurrency/SGD pair te Singapore.
- Coinhako (SGD deposit is down after DBS closed their account, have to use Xfers)
- Gemini (USD but cheapest option now)
- NuMoney (a startup suggesting OTC services)
I will only elaborate on Coinhako and Coinbase spil they are the more popular choices ter Singapore.
Coinhako is a específico startup that has the backing of Tim Draper. They suggest both BTC/SGD and ETH/SGD pairs.
There are Three ways to deposit money into Coinhako.
- Almacén inter-bank transfer takes 1 business day, and they check the deposits twice everyday at 10am, and 4pm
- Xfers deposit is instant, but there are thresholds and you have to verify your identify for high boundaries. (Spil of 11/6/2018, xfers is down and users are advised not to make any deposit into xfers)
- International wire are normally for customers who are based overseas
To buy and sell BTC or ETH, simply click on buy or sell and Coinhako will execute your order. It will take around >,10min (BTC) or >,1min (ETH) for your transaction to be confirmed.
Pros of using Coinhako:
- Locorregional support. They are very responsive with their support and you can get your problems immobile within 1 business day. Fresh accounts are verified within 1 business day also
- Support almacén. Wij can help the Singapore blockchain toneel if wij support our own startups
- 99% of funds are stored te cold-storage – Secure
- User-friendly. Their UI is very well-designed, and I can navigate the webstek lightly
Cons of using Coinhako:
- Slightly higher spread. Wij have observed that the spread from Coinhako is higher than Coinbase and FYBSG
- Can run into liquidity issues
If you are opening an account with Coinhako, please sign up using this listig and wij both get S$Five when you make your very first trade ($100 and more).
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Coinbase is a digital asset exchange company headquartered te San Francisco, California. They suggest BTC/SGD, ETH/SGD and LTC/SGD pairs.
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There are Trio ways to deposit money into Coinbase.
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- Xfers is instant and works exactly like Coinhako
- International wire
- Credit card (with crazy fees)
Pros of using Coinbase:
- High liquidity. They can lightly fulfill your order
- Back by trusted investors – Fresh York Stock Exchange, Spanish Canap BBVA and DFJ, the venture hacienda group
- Insurance. Digital currency is insured by Lloyd’s of London, te the event of security breach
- Slightly better spread
Cons of using Coinbase:
- Slow support. Support can take up to a few days to reply.
- Buggy payment methods. Personally I attempted to deposit via xfers and it couldn’t work for mij.
If you are opening an account with Coinbase, you can use this listig and wij both get USD$Ten when you make your very first trade (USD$100 and more)
I have also created a Facebook group to facilitate discussion, you can join to get updated news about the cryptocurrency community ter Singapore! You can join the telegram group here also.
Wij also suggest crypto crash course for anyone who wants to get up to speed with crypto.
*Buying and selling cryptocurrencies is very risky, do your own due diligence before putting ter money. Pennywise hodls no responsibility if you lose any renta from cryptocurrencies.
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