Interested in dealing in bitcoins? Then you are reading the right articles.
Bitcoin, a type of digital currency, is operated and held electronically. It was invented as a solution to centralized currencies and attracts financial enthusiasts across the world due to the non-requirements of intermediaries like banks when dealing in them. Singapore, despite having a small population has become a hub for bitcoin startups. It has several cryptocurrency exchanges to buy bitcoin. But, when it comes to dealing in this virtual currency, choosing the right cryptocurrency exchange becomes vital, else you can fail drastically.
Several factors like exchange rates, fees, tools to buy them (options like credit/debit card, etc.), and secure storage must be considered when choosing a bitcoin exchange. While this is true, selecting from an endless list is still daunting. To help you start, we have listed some of the best exchanges to buy bitcoin.
1. Coinbase
Headquartered in San Francisco, this cryptocurrency exchange was founded by Brian Armstrong and Fred Ehrsam. With a really good user interface, this exchange is great for beginners to buy bitcoin. Singaporeans can buy bitcoins through this platform using three payment methods – credit card, debit card, and bank transfer. Depending on the tool, you may be require to pay some charges when buying bitcoins. The exchange also offers two free bitcoin wallets namely normal insured and multisig vault wallet. With advantages like high liquidity and buying limits, ease for beginners, and an instant buy option with credit/debit cards, this is a great platform to start with.
2. CoinHako
Based in Singapore, CoinHako is one of the first bitcoin startups in Asia and founded by Yusho Liu and Gerry Eng. Realizing the difficulty of buying bitcoins locally, the duo started the platform with an objective to bridge the gap between the cryptocurrency and the non-tech savvy users. With a great user interface, this is an addition to the list of platforms great for beginners. If you have a local Singaporean bank account, then buying and selling bitcoins through CoinHako is smooth and easy. The bitcoin broker charges a minimal trade fee and offers a reliable exchange. Called ‘the best company coming out of Singapore’ by Adam Daper, CEO of Boost VC an incubator focused on assisting bitcoin companies, it is a great platform for amateur bitcoin enthusiasts.
3. Luno
Founded in January 2013, Luno is one of the latest exchanges that offer bitcoin trading services in Singapore. Previously known as BitX, the service provider focus on emerging markets across Africa and Asia. A universal bitcoin exchange platform, Luno offers a friendly interface along with iOS and Android apps for users. You can simply start by signing up for a free bitcoin wallet on the web or the app, complete the verification process, make the bank transfer through your preferred way, and buy bitcoins. With a free or nominal trading fee, the platform is one of the most trusted bitcoin exchanges in Asia.
4. Coin Republic
Founded by David Moskowitz, Coin Republic is a leading brokering service for bitcoins in Singapore. One of the fastest and easiest ways to deal in bitcoins, the platform limits the initial transaction to facilitate the understanding of the process and secure you from losses. The pricing is transparent and a commission is a charge on trades. In trades, the bitcoin buying and selling price is determining by the exchanges that the Coin Republic uses to buy and sell with. A trust source combines with a founder who is famous in the Singaporean bitcoin community if you have interest Coin Republic is the place to be.
5. itBit
itBit takes bitcoin exchange to a whole new level in Singapore. Focusing on the financial industry, itBit offers a global platform for trading bitcoin. Be it in USD, SGD, and EUR to investors and traders alike. The company offers a platform for investors to connect and utilize bitcoins innovatively. Institutions and active bitcoin traders can benefit from a variety of services offered by itBit like special fee offers, API services, asset protection, etc. The high regulatory and security standards, superior customer support, the facility to exchange and OTC trading through a single account makes this one of the best bitcoin exchange platforms. If the withdrawal is urgent, remember it has a withdrawal holding period for enhanced security.
6. FYB-SG
FYB-SG is one of the first and oldest Bitcoin exchanges in Singapore. Run by Dealworks Pte Ltd., the platform boasts of easy, secure, and transparent transactions through their Open Orderbook feature. Easy deposits and withdrawals via local Singaporean bank transfers, instant bitcoin withdrawals, low trade fee, and full transparency are attractive features offered by the exchange platform. Founded by Luv Khemani, the exchange allows you to fund your account via bank transfer or cash deposit.
7. CRXzone
Founded in 2014, CRXzone was incorporated as Intellect Market Pte Ltd. in Singapore. It is by Pawan Kumar. He has extensive experience in digital payment networks and been in the IT industry for 25 years. The bitcoin exchange distinguishes itself by several unique funding options. For example, OKPAY, Egopay, and PerfectMoney along with bank transfers on offer. One can trade in various cryptocurrencies apart from bitcoins including litecoin and dogecoin. A trusted company, it offers secure and safe transactions with withdrawals process manually be a member of the staff.
If you are keen on dealing in digital currency, then you can start with any of these exchanges to buy bitcoin. All of them have something unique on offer. Do your homework and go with the one that best suits your needs for a great experience in bitcoins.
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