Last Updated on September 15, 2022 by HR Editorial Team
Introduction
If you’re looking to buy Bitcoin in Singapore, there are a number of options available. The first thing to note is that the cryptocurrency market is still unregulated in the country and as such, it’s not possible for a single exchange to be declared as the “best” place to buy Bitcoin. Instead, users should compare different exchanges based on factors like price and security. That said, here are some of our top picks in Singapore.
Web Site and Apps to Buy Bitcoin in Singapore
1. Crypto
Crypto.com is one of the world’s leading digital asset platforms, providing a seamless experience across multiple blockchains including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP). With offices around the globe, Crypto.com provides customers with access to fiat currency accounts, a wide array of financial services, and a suite of tools designed to make managing cryptocurrencies easy. Its team consists of seasoned entrepreneurs, technologists, traders, financial experts, and former bankers who share a common goal — to provide everyone in the world an opportunity to benefit from the future of money.
Cryptocurrency exchange Crypto.com is offering an attractive fee structure for traders who wish to purchase and hold cryptocurrencies like Bitcoin and Ethereum. The company charges fees of only 0.4 percent per transaction, regardless of whether they’re buying or selling. In addition, users can enjoy reduced fees if they make multiple transactions within one hour. Crypto.com currently provides support for 250 digital assets, including BTC, ETH, XRP, BCH, LTC, EOS, XLM, ADA, ZEC, TRX, OMG, IOTA, and BAT.
Website: https://crypto.com/
2. Capital
And Capital.com was founded in 2016, offering investors access to online stock markets through an intuitive interface. We’ve harnessed the power of modern technology to create an innovative brokerage service that provides unprecedented levels of transparency, security, and ease. Our goal is simple: to empower people to achieve financial freedom by giving them access to capital they can control.
Capital.com aims to provide an avenue for investors to buy cryptocurrencies with greater confidence than on some other exchanges that are not as strictly regulated. The site has a mobile app and will allow you to transfer funds over either debit or credit card so you can easily buy some bitcoin if you don’t have any yet.
Website: https://capital.com/
3. Binance
Binance is a cryptocurrency exchange based in Malta and spearheaded by Changpeng Zhao. It was created with the goal to create a platform that could make trading easier for everyone.
It is a crypto-to-crypto exchange, meaning that you can only trade using BTC or ETH as your base currency. Binance has a high volume of trading, which means that you can buy or sell large amounts without affecting the market too much. This allows you to get better prices than on other exchanges such as Coinbase (which is more suitable for small transactions). Binance also has one of the lowest trading fees at 0.1%.
Website: https://www.binance.com/en
4. Coinhako
CoinHako is a Singapore-based cryptocurrency exchange that was founded in 2014. The exchange is fully regulated by the Monetary Authority of Singapore (MAS) and offers trading of Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. CoinHako also has an app for iOS and Android users.
Founded in 2014, Coinhako was founded with a simple value proposition – to create a simple and easy way to access cryptocurrency. Over the years, Coinhako has grown to offer access to a wide range of digital assets, as they work towards their vision of enabling access to cryptocurrencies across Asia.
We are widely recognized as one of the easiest ways to buy cryptocurrency. Our platform boasts robust features, user-friendly design, and simple trading processes. With our easy-to-use interface, you can easily navigate between your favourite cryptos and start buying them instantly! Coinhako is an app available on web browsers, Apple’s App Store, and Google Play..
Website: https://www.coinhako.com/
5. Zipmex
Zipmex is a bitcoin exchange that offers users the ability to trade in Singapore dollars, as well as USD and EUR. Zipmex has a high volume of trading which means that it is more likely to be able to provide you with the prices you want.
The website is easy to use and provides an intuitive interface for buying and selling cryptocurrency quickly. You can also withdraw your coins from Zipmex if you decide not to keep them in the wallet provided by them. This makes it easier for people who are looking for somewhere safe where they can store their money when done with trading for the day or week
Website: https://zipmex.com/
6. Gemini
Gemini is a regulated cryptocurrency exchange and custodian. Gemini is fully regulated by the New York State Department of Financial Services (NYSDFS). In addition to being subject to capital reserve requirements, cybersecurity requirements, and ongoing monitoring by the NYSDFS, Gemini is also a fiduciary and thus subject to extensive financial reporting. This means that the company has an affirmative obligation to act in its customers’ best interest at all times.
Website: https://www.gemini.com/
7. Luno
Luno is a Global cryptocurrency exchange, wallet and merchant service provider with local presence in Singapore. It has millions of users worldwide. You can purchase Bitcoin through the Luno app on your phone or desktop device. Luno is an innovative new platform built specifically for beginners who wish to learn about cryptocurrencies. Whether you’re interested in Bitcoin, Ethereum, Ripple, Litecoin, Dash, Monero, Stellar Lumens or any other currency they’ve got you covered.
That means cutting through all the noise and giving you something worth reading. They make complex things simple so you can get on with what matters. Our articles take you deep inside the issues so you can see them clearly and act on them. No fluff, no filler, just facts and analysis that matter. Because if you can’t explain it simply, you don’t know how to fix it.
Website: https://www.luno.com/en
Why Invest in Bitcoin?
One of the most important reasons why people invest in Bitcoin is because it is a digital currency. You can use Bitcoin to purchase goods and services, send money internationally, or just hold onto it as an investment. Since it is not controlled or regulated by any government, transactions are anonymous and secure.
It has been predicted that Bitcoin will grow at an exponential rate over the next decade due to its limited supply and scarcity (there will only be 21 million bitcoins ever created). This makes investing in bitcoin a great way to diversify your portfolio.
Benefits of Bitcoin
- Decentralization: The system is not controlled by any central authority and the network is collectively maintained through a peer-to-peer blockchain network.
- Transparency: All transactions are recorded in an open ledger, which means that everyone using Bitcoin can see the balance of each account at any time.
- Security: The Bitcoin blockchain uses cryptography to control access and prevent unauthorized transactions from taking place on its network. As a result, it’s nearly impossible for anyone to tamper with or manipulate your funds without you knowing about it.
- Speed: Transactions are processed immediately due to low fees associated with sending payments over the bitcoin network (transaction fees average $0). In addition, there are no third parties involved in processing transactions so transfers occur instantly between users anywhere in the world!
- Flexibility: You can use Bitcoin as an investment tool or simply as a way of paying for goods and services online or with friends; whatever works best for you!
Bitcoin Price Prediction
Bitcoin has a limited supply of 21 million coins, and it’s the most popular cryptocurrency in the world. The number of Bitcoins available will halve every 210,000 blocks (roughly every 4 years), until all 21 million are mined. As such, Bitcoin is considered a deflationary currency because its value increases over time. In fact, some analysts predict that Bitcoin will become more valuable than gold by 2030 due to its scarcity and divisibility.
Risk and Rewards of Bitcoin
In the first section, we discussed how Bitcoin works and what risks are involved in investing in it. Now we will look at other risks and rewards of Bitcoin investment.
The main risk is that the price could go down, meaning you would lose money if you sold your Bitcoins at a lower price than you bought them for. If this happens before you have sold all of your coins or transferred them out of an exchange (where they are kept by default), then it could result in permanent loss of capital. It’s important to note that this risk applies only if the value drops below where it was when you purchased Bitcoin; otherwise nothing changes until you sell or transfer them out (and even then there is a chance that prices will recover).
The second major risk for investors looking to make a profit from their purchase is having their wallet hacked or stolen by fraudsters who impersonate trusted websites like MtGox or Coinbase when phishing for customer data such as usernames/passwords etc., which enables thieves to drain accounts without recourse from owners whom they may never even hear from again once taken advantage of via social engineering techniques such as email phishing scams sent through email addresses similar sounding but ultimately fake ones belonging to legitimate companies like Mail groups@email(dot)com). Therefore always check URLs carefully before entering sensitive login information!
How to Store bitcoin Safely
Bitcoin, like gold, is a form of digital currency. But unlike gold, it’s not held by any government or bank. It’s also not a fiat currency—meaning that it can be bought and sold without any government regulation or oversight. Because bitcoin is a decentralized system that operates independently from any central authority (like the Federal Reserve or U.S Treasury), many believe it has more potential for growth than traditional forms of money do.
To store your bitcoins safely and securely on an individual level, you’ll need to establish your own wallet and follow some basic steps to keep them safe:
- Choose an appropriate wallet for yourself
- Make backups of your keys in case something happens to them in the future
Bitcoin is like gold, except much better.
Bitcoin is a digital currency that, like gold, is generated by solving complex computational problems. This can be done by anyone who owns the right equipment and has access to the internet. Bitcoin isn’t owned by any government or central bank; it exists entirely in cyberspace.
Bitcoin was perceivably created to solve many of the problems inherent in paper money and traditional banking:
- It’s decentralized — no one person or group controls it, so there’s no single point of failure
- It’s global — anyone with access to an internet connection can send or receive bitcoin anywhere in the world at any time (and for free)
- Its supply cannot be easily manipulated by a central authority — there are only 21 million bitcoins available for mining (or around 17 million left unmined), so it’s impossible for any government or institution to control its value
- Bitcoin is both deflationary and inflationary at the same time — this means that each bitcoin will continue increasing in value over time as more people invest in them
Conclusion
As you can see, Bitcoin offers a number of benefits over traditional currencies. It’s an innovative way to store value and exchange it with others quickly and easily. Always do your own due diligence before making any financial investment. Disclaimer – The above article is not financial advice, please perform your own research for all high risk investments.