Singapore has been a key hub in Asia for cryptocurrencies and blockchain trading. Its openness towards the industry has encouraged business development through the years. In the crypto-friendly country, there are also two official crypto exchanges with licenses, which are DBS Vickers and Independent Reserve. When talking about trading Bitcoin in Singapore, Binance, the Hong Kong-based firm which serves worldwide clients would always come up first. Binance is undoubtedly a professional and reliable platform for crypto trading in the field. However, on 27 September, it announced that users in Singapore are no longer able to buy and sell cryptocurrencies. And Binance can only operate locally under an exemption while the MAS processes applications.
Given the circumstances, crypto traders in Singapore would have to find other crypto exchange alternatives for their further investments. These four crypto exchanges below might be your go-to place to trade Bitcoin in Singapore, as they are all well-reputed and support SGD/BTC trading. Apart from the following choices, you may also want to do your research and compare the prices different exchanges provide which best suit your needs!!
Independent Reserve – A Well-regulated Crypto Exchange Platform
As mentioned before, Independent Reserve is an Australian exchange starting in 2013 and obtained a full license approval under the PSA in Singapore. It is a well-regulated crypto exchange platform, fully following licensing requirements and rules in the crypto industry. So it is a trustworthy firm to trade your cryptocurrencies through. At the moment, the firm supports more than 15 cryptocurrencies fast track trading, allowing users to settle quick transactions within minutes. Despite SGD/BTC transactions, it also handles large orders with world-class security and deep global liquidity.
If you are interested in trading Bitcoin through an officially licensed crypto exchange, you can also look at DBS Vickers for comparisons.
OKEx – Trade Crypto With Flexible Payment Methods
OKEx is also a convenient platform to trade crypto, as it provides instant settlements, and supports payment methods like PayPal and credit cards for more than 400 cryptocurrencies trading pairs.
On its website, there are two sections for settling quick transactions, quick trade, P2P trade, and block trade. Under “Quick trade” (which is also the most useful function), users can select to sell or buy crypto and select which fiats they want to trade, in this case, it is Bitcoin and SGD respectively. Then you can select a payment method, which includes bank transfers, Alipay, Wechat Pay, Paypal, credit cards, and more. The whole process only takes less than 3 minutes, then your assets will be transferred into your OKEx.
Gemini – Trade Bitcoin in Singapore Using Simple Interface
Gemini is one of the crypto exchanges that take care of both beginners and advanced users. It has user-friendly interfaces to show the market prices and your trading details on both desktop and mobile app versions. Users can also find useful tools for price tracking, like ActiveTrader, where transactions can be done within microseconds and price performances are also shown.
Bitcoin trading is also one of their selling points among the services provided. The team has Bitcoin expertise to assist users with different investment plans, helping them to maximize their trading tragedies.
Bitfinex – For Effective Crypto Assets Trading
Bitfinex is another well-reputed crypto exchange platform that was founded in 2012 and headquartered in Hong Kong. Like any other cryptocurrency trading platform, it offers diverse trading options and services for investors, which especially fit advanced traders.
There are two highlighted features of the platform, including the advanced trading platform, margin trading, and funding, which are tailored to meet the specific needs of professional and institutional traders. It also provides advanced trading tools for a graphical trading experience that users can visualize orders, positions, and price alerts, tap to modify order properties, and annotate to their trading strategy.
Every investment contains a certain level of risk. You should always evaluate the associated risk level before investing in any of the investment options!