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How Can I Buy a Cryptocurrency in Singapore?

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Some of our posts may have affiliate links including this one. That means if you make a purchase I may get a commission (at no extra cost for you). To find out more about it read our Disclosure page

Do you want to buy cryptocurrencies in Singapore? Then you need to be aware of the best places available to proceed with.

So that you with ease can purchase the cryptocurrencies that you want and experience the benefits that come along with your investments.

When you are looking for an answer to “how can I buy a cryptocurrency in Singapore?” You are probably asking yourself “where can I find the best deals?”

The internet is a great source to find out what is currently being sold for. You just need to be careful; you do not want to get taken for a ride by scammers or scam artists. Also, you need to check the reviews and feedback from the site.

To help my Singapore based friends I did my research looking into which exchanges and trading platforms are open for people that live in Singapore.

And I also reached out to my friends who have bought and sold cryptocurrencies before where they buy cryptos like Bitcoin, Ether, Litecoin, etc today!

The best options to buy cryptos from in Singapore

1 ) Coinbase 

Coinbase exchange photo

When you take a look at the most popular methods among how people in Singapore go ahead with purchasing cryptocurrencies, you will notice that Coinbase is holding a prominent place.

This is one of the most popular online cryptocurrency exchange platforms. You can stick to Coinbase and go ahead with all your cryptocurrency exchanges.

It can provide you with a convenient experience and deliver the ability that you want to get the cryptocurrencies needed.

When you are using Coinbase, you will be able to purchase cryptocurrencies immediately.

You will be able to use the credit card or debit card to make the payments. You can create an account on Coinbase with ease as well.

Moreover, people in Singapore can easily verify the address, which is essential before purchasing cryptocurrencies on this platform. It is easy to see why many people in Singapore use Coinbase for the first time, learn more at this site why.

Special deal – Get $10 for free at Coinbase when buying for a minimum of $100

2 ) Bitcoin ATMs 

Bitcoin ATM

If you are interested in purchasing Bitcoin, you can take a look at the Bitcoin ATMs.

There is a total number of over 4,200 Bitcoin ATMs available out there in the world. Out of them, 9 Bitcoin ATMs are available in Singapore. You will be able to locate these Bitcoin ATMs easily and purchase Bitcoin you want in any amount.

You will have to deposit flat currency to purchase Bitcoin while you are using these Bitcoin ATMs. 

You will be able to get hold of Bitcoin instantly with the help of a Bitcoin ATM machine as well.

This method will provide you with the opportunity to overcome the verification process, which you have to go through at the time of purchasing cryptocurrencies that you want from an online exchange.

However, the transaction fee associated with withdrawing Bitcoins from the Bitcoin machines located in Singapore is relatively high. You need to keep this fact in your mind and go forward with the decision to get the necessary cryptocurrencies.

3 ) Luno 

Luno exchange screenshot

Luno is a Bitcoin trading platform, which is prevalent in all parts of the world. You can think about sticking to Luno to purchase the cryptocurrencies that you want in Singapore as well.

One of the best things about Luno is that it provides people with the chance to buy Bitcoin needed with a minimum fee. Therefore, you will be able to reduce the amount of money that you are spending as the fee up to a great extent.

Luno has been able to receive an excellent reputation as a trusted Bitcoin exchange among people in Asia.

You can imagine the service provider and go for trading activities to buy Singapore. Along with Bitcoin, Luno recently started offering Ethereum as well. Hence, you can buy any of these two currencies with ease. 

4 ) Coinmama 

Coinmama trading platform screenshot

Coinmama is another popular web-based cryptocurrency exchange.

This online cryptocurrency exchange is being accessed by people who live in all parts of the world as well. If you are a beginner to cryptocurrency investments, you are encouraged to take a look at Coinmama.

That’s because the online cryptocurrency exchange platform is a convenient and hassle-free one. You will be able to use that and get your work done with ease. 

Coinmama is accessible to all the people in Singapore. Therefore, you can go ahead and purchase cryptocurrencies that you want within the comfort of your home.

You can receive the best limits for the purchases of Bitcoin that you make along with the option to buy with a credit card. You can consider this as a trusted and reliable broker as well. 

5 ) Kraken 

Kraken cryptocurrency exchange

Kraken is a leading cryptocurrency exchange that you can find out there on the internet. And it is one of the oldest remaining Bitcoin trading exchanges.

It is also available for the people in Singapore who are interested in moving forward with their cryptocurrency investments. This is a trusted and well-financed cryptocurrency exchanging platform.

It has also been able to earn an excellent reputation for the low maker fee. Hence, you can save your money while purchasing the cryptocurrencies that are needed.

A high level of security is available for the people in Singapore who go ahead and buy the cryptocurrencies from Kraken as well. 

Conclusion

As a way to branch out for our global focus here at Go CryptoWise we want to also provide helpful content that is localised. So I hope that you liked this article about ways to buy cryptocurrencies in Singapore!

I have been asked this by some Singapore based friends so I wanted to do my part and provide you with some options that I know works in Singapore from doing my research and also asking my crypto-savvy friends who lives over there!

Another way to find out if you can buy a cryptocurrency in Singapore would be to ask a Singapore resident.

There are many online forums (like Remitano or Salary.sg) out there that you can go to. One way to find out how can I buy a cryptocurrency in Singapore is to talk to a Singaporean.

They will know where to find the best deals for their local currency. So get yourself a good idea of what the best places are for you to buy a cryptocurrency in Singapore.

Be sure to find to do your research before you buy your first cryptocurrency. And don’t be afraid to ask others for help.

Source: https://gocryptowise.com/blog/how-can-i-buy-a-cryptocurrency-in-singapore/

Blockchain

Making sense of Solana’s ‘extremely rapid’ growth

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When Solana experienced a crash right after hitting a new all time high on 9 September, traders and experts tried to make sense of the event. On “The Best Business Show,” investment expert Anthony Pompliano interviewed Kyle Samani, co-founder and managing partner at Multicoin Capital, to discuss the rising star-turned-meteor, that Solana has turned out to be.

From 4 cents to over $200

Pompliano began by discussing Multicoin Capital’s investment in Solana. He calculated that the initial investment had gone up roughly 3750 times since the initial round, when one SOL had been at $0.04.

For his part, Samani said,

“Solana today is growing at an extremely rapid pace. Users being on-boarded, assets being issued, stablecoins going into it – all of these things. Look at the last nine days: it’s just a vertical line from, call it a billion in assets to like 10 billion.”

While listing out possible factors for Solana’s success, Samani cited Solana’s speed and network, its NFT platform Metaplex, the rise in SOL’s price, and the stablecoins issued.

Network > Price

Inevitably, Pompliano brought up Solana’s crash – though he admitted calling it so was “hilarious,” in the context of the alt coin’s growth. However, Samani’s answer was a surprising one. He claimed that he tried to ignore prices and didn’t refer to Coin Gecko or Coin Market Cap. Rather, he preferred to focus on Solana’s network and its growth. He further explained,

“Our time horizon is measured in years, not weeks or months. So the question we will always ask ourselves, is you know, is this network compounding at a sufficiently fast rate? And if you really go dig into developer activity, user on-boarding, dollar flow in the system. . .all of those things right now are compounding at an astounding rate and I don’t think that’s going to slow down.”

Furthermore, the following infographic presents data on Solana transfers.

Could Solana kill Ethereum?

Samani spoke about Metaplex and how the NFT platform came during the NFT Boom of summer 2021. He noted Ethereum’s high gas fees and how many users saw Solana as a faster alternative. Even so, Samani admitted that he thought it was “improbable” for Solana to displace Ethereum. Instead he suggested the two would likely co-exist.

Samani also addressed a common criticism aimed at Solana, regarding the its centralized nature, due to the number of validators and the expensive hardware required to run it.

Samani called the criticism “valid” but “irrelevant,” pointing out that the trade-off meant better performance for users, reiterating the network’s rapid growth.

At press time, there were between 974 and 1000 validators on the Solana mainnet. Samani’s assessment of the alt coin was simple but memorable. He said,

“I don’t think there’s going to be another Solana.”

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Source: https://ambcrypto.com/making-sense-of-solanas-extremely-rapid-growth

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Will Bitcoin make a pitstop at $85,000, before racing to $100,000

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Even though Bitcoin has been making no major moves of late, the market’s bullishness on the coin continued making headlines, and all for the right reasons. After all, the king coin surprised the market before, with massive its moves that rendered skeptics silent. 

Bitcoin to $100K, by the end of the year is a much-anticipated move by the market. As we enter the last quarter of this year, Bitcoin is expected to push towards that major psychological barrier. However, even though Bitcoin presented a solid recovery from the May crash, at the time of writing, the effects of the September 7 flash crash hadn’t completely worn out. 

Nonetheless, as BTC presented around 3% daily gains and traded at the $48.5 level at press time, the market once again eyed BTC for some major moves. But before Bitcoin actually makes a move towards the $100K, its last stop would be the $85K mark which will confirm an upward move to $100K. 

The above observation was part of a market report by trading platform Decentrader ,which presented bullish signals in the near term, for BTC. It presented how we it could be setting up for a major run that first reaches $85,000 before breaking through the psychological barrier of $100,000, thereby making for an explosive Q4 2021. 

BTC looking hyper bullish 

In spite of BTC trading below $50K throughout the week, on-chain metrics have led analysts to stay bullish on Bitcoin price action. A report stated that the constantly decreasing supply of BTC on exchanges put upwards pressure on price in the medium term. With demand increasing as supply reduces, the price would go up. 

Further, another factor that contributed to Bitcoin’s bullish mid-term trajectory was its SOPR which presented a similar trend to the months that followed the March covid crash. After the summer crash where SOPR was heavily printing green candles, some minor selling at a loss was observed on this pullback from $50,000 too. Thus, SOPR flashed a sort of buy-the-dip opportunity as final sellers get flushed out before it moves higher, as was observed in Q4 2020. 

Additionally, Active Address Sentiment Indicator had reset with price change lower than active address change. With a pullback in prices alongside constant network growth, the market will look to catch up with network growth by noting price gains. 

Thus, the report presented a hyper-bullish possibility of Bitcoin reaching $85K by the end of Q4. However, Bitcoin’s options market didn’t look too big on gains at the moment with funding rate flashing negative signs. Further BTC’s global open interest by expiry indicated year-end expectations of around $65K which is almost $20K less than the target of $85K. 

So, is $100K too far?

Well, not really. The reason being that, from the July local low of around $30K Bitcoin registered almost 75% gain to reach the multi-month price high of over $52K. Notably from the current consolidating prices, another 75% price gain would land Bitcoin to $85K. So a rally like that over the next three months won’t be a big surprise. 

Thus, while BTC was consolidating, a squeeze upward should characterize the remainder of this year, similar to events from 2020. 

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Source: https://ambcrypto.com/will-bitcoin-make-a-pitstop-at-85000-before-racing-to-100000

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Hungary Unveils Statue In Honor Of Bitcoin Creator Satoshi Nakamoto

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Hungary Unveils Statue In Honor Of Bitcoin Creator Satoshi Nakamoto

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Key takeaways

  • Hungary has erected a statue in honour of the anonymous creator of Bitcoin, Satoshi Nakamoto.
  • Hungary’s Bitcoin adoption is still underdeveloped compared to other European countries.
  • The initiative hopes to create awareness for cryptocurrencies in the country.
  • Satoshi Nakatomo’s legacy is gaining traction globally.

A statue in honor of the anonymous creator(s) of the pioneer cryptocurrency, Bitcoin, has been erected in Hungary. The imposing bronze statue was unveiled in Budapest – Hungary’s capital – on Thursday. Its creators say it is the first in the world to pay homage to the anonymous creator of Bitcoin.

The bust sits atop a stone plinth engraved with the name of Satoshi Nakamoto, and features a featureless face wrapped in a bronze hoodie engraved with the Bitcoin logo. The face is heavily polished to make it reflective like a mirror in which viewers can see themselves.

The sculptors, Gergely Réka and Tamás Gilly said the face was made reflective to capture the mantra of “we are all Satoshi,” so when viewers look at the statue they are reminded that they play just as an important role in Bitcoin as Satoshi and everyone else does. The statue sits among others that depict notable figures including Steve Jobs, the founder of Apple.

The Central European nation considers Bitcoin to be an asset and hence subject to capital gains tax. In May, plans to reduce the tax rate on cryptocurrencies were however revealed. The finance minister Mihaly Varga posted a video address on Facebook that announced that from 2022, taxes on cryptocurrencies would be cut in half from a 30.5% rate to 15%. It is hoped that the cut would incentivize better tax reporting by cryptocurrency enthusiasts and bring in “several billion florists” – the country’s currency – in revenue.

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According to CoinDance, a Bitcoin trading volume by country data aggregator, Hungarians traded 256,260 (over $12 billion) in the past week. However, compared to many other members of the European Union, analysts say the Bitcoin space in Hungary is currently in a state of underdevelopment.

Andras Gyorfi, the initiator of the project and a Bitcoinjournalist, while addressing a crowd at the unveiling said that the statue is a token of respect to Nakamoto, and an effort to “raise awareness toward blockchain and cryptocurrencies.” Hungary has become the first country to honor Bitcoin creator Satoshi Nakamoto with a public statue.

The organizers of the statue project said they invited Nakamoto to the unveiling in the hopes of finally learning the true identity of the Bitcoin inventor. The moment was a significant one however as it shows how far Bitcoin has come since its creation in 2008. 

There is no doubt that Satoshi Nakatomo’s creation has created value for a lot of people. Recently, El Salvador became the first nation-state to adopt Bitcoin as legal tender. The country expects that with the move they will give back economic power to citizens and incentives savings in the form of reduced remittance fees that should have gone to remittance giants.

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Source: https://zycrypto.com/hungary-unveils-statue-in-honor-of-bitcoin-creator-satoshi-nakamoto/

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