Buying Bitcoin can feel like an unfamiliar territory for someone who is accustomed to traditional financial products. The good news: There are many ways on how to buy Bitcoin Singapore and other cryptocurrencies, from stockbrokers to dedicated exchanges and even in-app purchases in some crypto-linked applications.
Actually, it always narrows down to what you deem appealing before deciding on how to buy Bitcoin Singapore. With that said, let’s take you through some of the routes you can take when looking to buying Bitcoin in Singapore.
Crypto Exchanges
You can now Bitcoin from cryptocurrency exchanges in Singapore. Most of them offer a host of options, while others simply have Bitcoin and a couple of alternatives. They carry with them a variety of different fees and consumer protections, so do your homework before settling on any of them. Be sure to factor in the features that make a crypto exchange platform worth leveraging, after which you can settle on the best for your needs.
Traditional Stockbrokers
The choice among traditional brokers that offer customers a way to buy and sell Bitcoin in Singapore are few at the moment. However, it is not to mean that you can never use them to your advantage. Robinhood was the first mainstream investment broker to offer Bitcoin.
Quite similar to its stock-trading platform, Robinhood charges no fees for Bitcoin trades. Other online brokers that offer access to Bitcoin or other cryptocurrencies include Fidelity. It narrows to what each offers before settling on any of them.
Wallet Software
Some crypto apps, such as games, crypto wallets or other online services that leverage blockchain technology, allow users to buy and sell digital assets directly within their app. For those who are using cash in one of these apps, then you may wind up using a third party to fill your order. Such orders can at times cost a bit more than regular exchanges, but offer some advantages in the form of quick, relatively painless transactions.
If purchasing Bitcoin, you will need a place to keep it. For those who might not know, Bitcoin can be stored in two kinds of digital wallets; a hot wallet or a cold wallet. A cold wallet often incorporates extra security steps that help to keep your assets safe but also make transactions take longer while in a hot wallet, the transactions are generally faster.
