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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

Bybit to Cease Services for UK Citizens Following the FCA Ban on Crypto Derivatives Trading

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The first consequences from the FCA ban on crypto derivatives trading in the UK are evident for the popular digital asset exchange Bybit. The company announced earlier that it will suspend its services to all customers based in the United Kingdom. 

  • Established in 2018, Bybit is a cryptocurrency exchange headquartered in Singapore with a reported user base of over one million registered clients. However, the firm will seize offering its services to UK-based customers, according to a recent press release
  • The statement informed that all UK users have to close all of their opened positions and withdraw all account balances by 8 AM UTC, March 31st, 2021. Following that date, UK citizens will be “restricted from accessing or performing any trading activities on Bybit.” 
  • Furthermore, the exchange will immediately restrict all new registrations using UK mobile numbers and/or IP addresses. 
  • Bybit’s decision is a direct consequence of a ban on crypto derivatives trading in the UK instituted by the country’s regulator – the Financial Conduct Authority (FCA). 
  • CryptoPotato reported last year that the watchdog planned to prohibit the sale, marketing, and distribution to all retail customers of crypto derivatives and exchange-traded notes (ETNs).  
  • At the time, the FCA described such products as “ill-suited for retail customers due to the harm they pose.” It also outlined that traders are unable to determine a reliable value because of the extreme volatility in the market and inadequate understanding. 
  • Interestingly, though, even the UK population couldn’t stop the FCA from implementing the ban as a survey compiled by the watchdog suggested that over 97% disagreed with the decision. 
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Source: https://cryptopotato.com/bybit-to-cease-services-for-uk-citizens-following-the-fca-ban-on-crypto-derivatives-trading/

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PAID Crashes 70% In Minutes as Network Purportedly Exploited

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PAID Network, one of the most popular Initial DEX Offerings (IDOs) that took place on Polkastarter’s platform a while ago and brought tremendous returns to private sale investors, is going through what seems as a massive attack.

  • PAID Network, one of the most popular and heavily promoted IDOs that brought massive returns to private sale investors, seems to have been exploited.
  • Multiple reports on social media point towards the exploit.
  • It appears that over 59 million PAID tokens were minted and sold through Uniswap.
  • This resulted in the price of the token taking a nosedive and decreasing by more than 80% in minutes.
paidchart
PAID/USD. Source: Dextools
  • At the time of this writing, the team hasn’t come up with an official statement.
  • Many in the cryptocurrency community speculate that this is a rug pull as the owner of the contract had the capability to mint new tokens.
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Source: https://cryptopotato.com/paid-crashes-70-in-minutes-as-network-purportedly-exploited/

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Bitcoin Losing the $50K Mark, Entering Bearish March: The Weekly Crypto Recap

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This week was tough across the board, not just in the cryptocurrency market. It was marked by a serious correlation between Bitcoin and the S&P 500, as well as the entire legacy market, in general.

As CryptoPotato reported, the abovementioned correlation reached a 5-month high. While this seems to be bearish in the short term, given that the stock market slumped following government bond yield that gave the market a jolt, there’s also a bullish argument to be made.

Last weekend, the US House of Representatives passed President Biden’s $1.9 trillion COVID-19 Relief Package, which also got a 51-50 approval vote in the senate. Should the legislation become effective, it could be the case that markets will recover. Given the high correlation, this might also play out positively for Bitcoin and the cryptocurrency market as well.

Nevertheless, the week wasn’t favorable for the market as the primary cryptocurrency, as well as the majority of large-cap altcoins, remained indecisive and failed to regain the momentum they previously had. Presently, Bitcoin is trading at around $49,000. Historically, March has been one of the two most bearish months for Bitcoin, on par only with September. After all, we did see Bitcoin drop by 50% in 2 days last March upon the announcement of the coronavirus pandemic.

Elsewhere, major news took place all over. Binance Smart Chain saw its first major rug pull as Meerkat Finance saw its protocol drained of over $30 million in both Binance Coin and BUSD.

We saw developments in regard to the BitMEX – CFTC fiasco. In a recent filing, it was revealed that the former CEO of the derivatives exchange, Arthur Hayes, could surrender to US authorities in Hawaii this April.

On the more positive and funny side, Mark Cuban’s Dallas Mavericks announced that they would start accepting Dogecoin as a means of payment for tickets and merchandise. The billionaire celebrity gave the most earth-shattering explanation for the move, saying they did it “because we can.”

It’s certainly interesting to see how the global macroeconomic outlook will pan out in the coming days. Will the markets start to recover, or is there more pain ahead? Only time will tell.

Market Data

Market Cap: $1,444B | 24H Vol: 130B | BTC Dominance: 60.7%

BTC: $48,959 (+2.94%) | ETH: $1,531 (+0.38%) | XRP: $0.462 (+3.89%)

Bitcoin Correlation With S&P 500 at 5-Month High: Is This Bearish for BTC? Data reveals that the correlation between the S&P 500 and Bitcoin’s price has hit a 5-month high. This was clearly confirmed over the past week as the cryptocurrency is following the traditional stock market very closely.

US House Passes $1.9 Trillion COVID-19 Relief Package, $1,400 Direct Check Provisions Included. The US House of Representatives has passed President Biden’s $1.9 trillion stimulus bill the past weekend. The Senate also voted 51-50 to proceed with the regulation. If successful, this will see another financial injection into the US economy.

First Major Rug Pull on Binance Smart Chain? Over $30 Million Drained. Meerkat Finance might have been the very first major rug pull on the novel Binance Smart Chain. The protocol saw over $30 million drained from it in what appears to be a rug pull. The community was taken ablaze as many people lost a lot of money.

Former BitMEX CEO Arthur Hayes Could Surrender in Hawaii in April. The former CEO of BitMEX and one of the most influential figures in the cryptocurrency industry, Arthur Hayes, could surrender to US authorities in April in Hawai. This became clear after new court documents were filed.

Mark Cuban’s Dallas Mavericks to Accept Dogecoin Payments. The Dallas Mavericks – an NBA team owned by famous billionaire and Shark Tank star Mark Cuban, will be accepting Dogecoin payments for tickets and merchandise. This became clear after a recent announcement where Cuban gave an astonishing reason for the move – “Because we can!.”

Tim Draper Handpicks Netflix as the Next Company to Purchase Bitcoin. According to one of the most popular venture capitalists in the cryptocurrency field, Tim Draper, the next major company to buy Bitcoin might be the streaming giant Netflix. He believes that the company’s co-CEO is the guy in control, and he thinks he’s an “innovative guy.”

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Polkadot, and Cardano – click here for the full price analysis.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


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Source: https://cryptopotato.com/107410-2/

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