Buying Bitcoin in Singapore has never been more accessible. Singapore is a crypto-friendly hub with clear regulations and a growing number of licensed platforms . Whether you’re a complete beginner or have some experience, this guide will walk you through all the major methods to purchase Bitcoin using Singapore Dollars (SGD). We’ll cover centralized exchanges (e.g. Binance, Coinbase, Crypto.com, Gemini, Coinhako, etc.), peer-to-peer platforms (like Paxful), financial apps (e.g. Revolut), and even Bitcoin ATMs – along with the steps involved, regulatory requirements, fees, pros/cons, and security tips. Let’s get started on your crypto journey in an upbeat and beginner-friendly way!

Getting Started: Step-by-Step to Your First Bitcoin

1. Choose a Reputable Platform: Decide how you want to buy Bitcoin. The easiest and most common way in Singapore is via an online cryptocurrency exchange . Singapore has over 30 licensed Digital Payment Token (DPT) service providers as of 2025 . You can also consider peer-to-peer marketplaces or financial apps. (We’ll compare these options in detail later.)

2. Sign Up and Verify Your Identity (KYC): Due to Monetary Authority of Singapore (MAS) regulations, all legitimate platforms will require identity verification (Know-Your-Customer checks) . This typically means providing your NRIC/passport details and proof of address, and often a selfie or using SingPass MyInfo for quick verification . Don’t worry – these steps are usually straightforward, and many platforms guide you through it in-app or on their website. MAS requires strict KYC/AML to protect consumers, so this is an important security step .

3. Deposit SGD Funds: Once your account is approved, you need to fund it with Singapore Dollars. Most Singapore-focused exchanges support fast local bank transfers via FAST or PayNow, or integrations like Xfers/StraitsX for instant SGD deposits . For example, Coinbase uses Xfers and claims SGD deposits clear within minutes with no deposit fee . Some exchanges also accept credit/debit cards (e.g. Crypto.com, Coinbase) or even GrabPay, but card purchases usually incur higher fees (around 3–4%) . Choose the funding method that balances speed and cost for you. A local bank transfer is often cheapest (usually free or a minimal fee) and very quick in Singapore.

4. Buy Bitcoin: With SGD in your exchange account, you’re ready to purchase Bitcoin. On most platforms, you can use a “Buy” or “Trade” feature. You might have options to buy at the market price for instant purchase, or place a limit order at a specific price. Beginners often start with a simple market buy – just enter how much SGD (or how much BTC) you want to purchase and confirm. Within seconds, the Bitcoin will be credited to your account’s wallet on the platform . If you’re using a peer-to-peer platform, you will choose a seller and follow the instructions to pay them (e.g. send money via PayNow/bank transfer), then the Bitcoin is released to you from escrow.

5. Secure Your Bitcoin: Congratulations, you now own Bitcoin! If you plan to hold it long-term (“HODL”), consider moving it to a personal crypto wallet that you control, for added security. While exchanges provide wallets for you by default , it’s recommended to use your own wallet (ideally a hardware wallet) for large or long-term holdings . This way, you control your private keys. At minimum, enable two-factor authentication (2FA) on your exchange account and use strong, unique passwords – security first! We’ll cover more on security below.

6. (Optional) Cashing Out: When you want to sell, you can convert BTC back to SGD on the exchange and withdraw to your bank. Different platforms have different withdrawal times and fees (many bank withdrawals via FAST are free and instant, but check your platform’s policy).

Throughout this process, remember to only invest what you can afford to lose – cryptocurrencies are volatile, and MAS warns that you should be prepared for the risk of losing all the money put into crypto tokens . Keep yourself informed and double-check addresses and details when transacting. Now, let’s explore the various platforms and methods available in Singapore to buy Bitcoin, so you can choose the one that suits you best!

Centralized Cryptocurrency Exchanges Supporting SGD

Centralized exchanges are online platforms that match buyers and sellers. They are the most popular way to buy Bitcoin in Singapore . Many of these exchanges are licensed or have in-principle approval under MAS’s Payment Services Act, meaning they comply with local regulations and consumer protection rules. Using a regulated exchange gives you an extra layer of safety and peace of mind.

All the exchanges below accept SGD either through direct bank transfers, FAST/PayNow, or credit cards. Most have both desktop websites and mobile apps, so you can trade on your computer or on the go. Here are some of the major exchanges and their features:

Crypto.com

Crypto.com is a Singapore-based crypto exchange known for its sleek mobile app and broad offerings. It obtained a Major Payment Institution license from MAS in 2023 , so it’s fully regulated. You can deposit SGD via bank transfer (FAST) or use a credit/debit card. Bank deposits are typically free, while card purchases incur about 3.5% fee . Trading fees on the exchange start around 0.4% for beginners , which can be reduced if you stake their CRO token (optional).

Pros: User-friendly app, supports 100+ cryptocurrencies, supports SGD directly, often runs promotions (like fee discounts or rewards for new users). MAS-licensed, so it follows strict security standards and KYC.

Cons: Credit card buys have high fees (avoid them if you can deposit via bank). The interface, while great for mobile, can be a bit busy with so many features (Crypto Earn, NFTs, etc., which might overwhelm absolute beginners). Customer support can be slow during peak times, according to some users.

Mobile/Desktop: Excellent mobile app on iOS/Android; desktop exchange interface also available for advanced trading. Beginners can stick to the app’s simple buy/sell interface.

Security: High – supports 2FA, withdrawal address whitelisting, and holds funds in cold storage. No major security breaches reported, and being licensed means it’s regularly audited.

Coinbase

Coinbase is one of the most globally recognized crypto exchanges, and it’s available in Singapore with full compliance. Coinbase received in-principle approval from MAS in 2022 and appears on MAS’s list of licensed DPT providers as of 2025 . It’s very beginner-friendly, with a simple interface and a strong reputation for trust.

You can fund your Coinbase account via Xfers/StraitsX instant transfers – no deposit fee and it arrives in minutes . Once funded, the standard buy/sell trading fee is about 1.49% for bank transfers . If you buy with a debit/credit card, the fee is higher (~3.99%), and you’ll need to have your identity verified as well . Coinbase also offers Coinbase Advanced Trade (formerly Coinbase Pro) with lower fees (~0.5%) for more experienced users , but as a beginner you can use the default interface.

Pros: Extremely easy to use, high liquidity and buying limits , “instant buy” with card available if you’re in a hurry . Strong security track record and insurance on custodial funds (Coinbase insures funds in hot wallet and keeps most crypto in cold storage). Also provides educational resources – you might have seen their Learn and Earn quizzes.

Cons: Fees are on the higher side compared to some competitors (especially the 1.49% trade fee and 3.99% card fee) . Bank transfer purchases can take a few minutes to an hour, and in rare cases up to a day if there are banking delays . Coinbase may also track how you spend crypto from their platform for compliance , which privacy-conscious users might not prefer.

Mobile/Desktop: Coinbase has both a web platform and highly rated mobile apps. The interface is consistent and simple across both.

Security: Very high – as a US-listed company and a licensed entity, Coinbase follows strict security practices (2FA, biometric login, withdrawal protection). They have an insured hot wallet for users (meaning if their online system is hacked and funds stolen, insurance may cover some losses) . Always enable 2FA and withdrawal confirmations to maximize security on your account.

Gemini

Gemini is a US-based exchange founded by the Winklevoss twins, known for its strong compliance and security focus. In Singapore, Gemini has been operating under an exemption and recently (Oct 2022) received In-Principle Approval for a Major Payment Institution license . In fact, as of April 2025 Gemini is transitioning Singapore customers to a local entity (Gemini Singapore) with full regulation, supporting SGD deposits/withdrawals natively .

Gemini’s platform offers two modes: a simple Gemini App for easy buy/sell, and an ActiveTrader interface for advanced trading with lower fees. For small instant buys, Gemini charges a convenience fee plus a transaction fee (roughly 1.49% for most trades or a flat fee of S$1.50–4.00 on very small trades) . Using ActiveTrader, fees are much lower (around 0.25% or less depending on volume). Depositing SGD can be done via FAST transfer to their bank account – this is usually free and quick (they will provide details when you select “deposit SGD”). They recently limited supported currencies to SGD and USD for Singapore users .

Pros: Top-notch security and compliance record (Gemini is known for being “security-first”). User-friendly app for beginners, and a powerful ActiveTrader platform when you’re ready for more. They support 21+ fiat currencies and many cryptos globally (though as noted, SG accounts now focus on SGD/USD). Gemini also has features like Gemini Earn (interest on crypto) – though be cautious and research before using such services.

Cons: Fees on the basic app can be higher than some competitors for small trades . Fewer coins listed compared to Binance or Coinbase (around 40+ coins available , focusing on reputable ones). In the past, funding had to be via USD SWIFT or stablecoins, but now SGD is supported – just ensure you use the correct local entity instructions when depositing. Customer support is mainly email/web form.

Mobile/Desktop: Yes, Gemini has both. The mobile app is very easy for buying, price alerts, etc. The ActiveTrader interface is available on web and mobile (though on mobile you might stick to the simplified view unless you’re trading actively).

Security: Extremely high – Gemini is SOC 2 compliant and has many security certifications. They keep the bulk of assets in cold storage, have withdrawal address whitelisting, and offer hardware security keys support. As a user, you should take advantage of these features. Gemini also has insurance against certain types of losses on their platform.

Coinhako

Coinhako is a homegrown Singapore-based crypto exchange/wallet that has been around since 2014. It’s one of the easiest ways for Singaporeans to buy Bitcoin and other cryptos quickly. Coinhako is licensed by MAS (it received a full MAS license in 2022) and supports direct SGD transactions . You can deposit SGD via FAST transfer or simply link your bank through Xfers/StraitsX for near-instant funding. They even allow PayNow transfers via StraitsX – super convenient.

Coinhako’s fee is about 0.9% per trade . They sometimes have promotions or rebates that can lower this. An advantage is that small amounts of Bitcoin can be purchased without full verification on Coinhako (up to S$100 via Xfers, or S$200 via other methods before KYC) , which can be a quick way to start. However, to go beyond those limits you’ll need to complete KYC. The platform itself is more of a broker interface – you specify how much BTC/SGD and they give you a quote including fees, rather than an order book you trade on.

Pros: Fast and straightforward – you can buy Bitcoin within 10 minutes of signing up using Xfers if you do a quick verification. Coinhako is very beginner-friendly; the interface looks like a simple wallet. They support many altcoins as well, and have a rewards system for referrals. Being based in Singapore, they have local support and understand local needs (they even support Malaysian ringgit for Malaysia users).

Cons: The 0.9% fee, while reasonable, is higher than pure exchanges like Binance or Kraken (which charge ~0.1–0.2%). For large trades, 0.9% can add up. Also, not very private: once you exceed the tiny limits, you must verify identity, so it’s not for anonymous purchases . Some advanced features (like an order book or price charts) are lacking since it’s aimed at simplicity. It really functions more like a currency exchange than a trading platform – which is fine for investing, but not for active day trading.

Mobile/Desktop: Coinhako has a web portal and also a mobile app. Both are easy to use; the app is convenient for on-the-go checking and quick buys.

Security: Good – Coinhako offers 2FA and has improved security after some past incidents. (In 2020, some Coinhako user accounts were compromised via credential reuse; Coinhako then beefed up security and required 2FA for withdrawals.) Always use a strong password/2FA. They custody your coins unless you withdraw, so consider moving coins to your own wallet for long-term storage.

Independent Reserve

Independent Reserve is an Australian cryptocurrency exchange that expanded to Singapore and became one of the first exchanges to receive a full MAS license for retail and institutional crypto trading . It’s a trusted name (founded in 2013) with a reputation for security and compliance. Independent Reserve is geared towards both individuals and institutions, and even offers an OTC desk for very large trades (SGD $100k and above) .

For everyday users, Independent Reserve might feel a bit more “professional” in interface – it has order books and charts. You can deposit SGD instantly via the Xfers/StraitsX integration (link your bank account and transfer SGD, which should show up within minutes) . They also support SWIFT/telegraphic transfers if you want to deposit other currencies like USD, AUD, etc. Trading fees start at 0.5% and can tier down with high volumes; their fee structure is transparent on their site. One note: their UI can be confusing for first-time buyers as it’s not as glossy as Coinbase or Crypto.com, but it’s quite robust.

Pros: Instant SGD deposits via Xfers (and withdrawals) , very trusted exchange (operating for over a decade with no major incidents), competitive fees (especially for larger volumes), and a wide selection of coins (20+). It’s also one of the few that caters to institutions, so it’s considered reliable. If you plan to trade other cryptos, they have reasonable trading pairs.

Cons: The interface is not the most beginner-friendly – it might intimidate some newcomers with charts and order types. However, they do provide a basic market order option which simplifies it. Independent Reserve doesn’t have some of the “fancy” app features or huge coin selection of some global platforms (it focuses on quality over quantity of coins). Also, being based on an order-book model, if you place a large market order it could take a bit to fill or impact price in a low liquidity scenario – but for normal small buys this isn’t an issue.

Mobile/Desktop: They have a mobile app on Android/iOS now , plus the full-featured website. The mobile app lets you buy/sell, monitor your portfolio, etc., in a simplified way.

Security: High – Independent Reserve prides itself on security (they mention things like 95% cold storage, multi-sig wallets, etc.). Users should use 2FA. No known hacks of the platform. Being MAS licensed, they also have to maintain certain capital and compliance controls.

OKX

OKX (formerly OKEx) is a major international exchange that, as of 2023, became fully licensed in Singapore and integrated local SGD payment methods . This is big news, because OKX offers a huge suite of features (spot trading, futures, staking, DeFi tools) and now Singapore users can directly deposit/withdraw SGD via PayNow and FAST bank transfers . OKX supports 350+ cryptocurrencies, so it’s great if you want altcoin variety beyond just Bitcoin .

For SGD purchases, you can deposit through their local bank channel (which likely goes through a local partner bank, using FAST). They also have a peer-to-peer (P2P) marketplace within OKX where users can buy/sell crypto via bank transfers, but with the direct license, using the official channel is easier. Trading fees on OKX are low: ~0.1% maker / 0.15% taker for new users (and even less if you have their loyalty token or high volume) .

Pros: Fully licensed by MAS (so you get regulatory compliance and local SGD support) . Large selection of coins and advanced products (if you ever want to try trading, earn, or NFTs, it’s all in one platform). They have integrated PayNow/FAST, which means super quick deposits from any local bank app by just scanning or using your mobile number – extremely convenient for Singapore users . Security-wise, they undergo audits (by CertiK, SlowMist) and have proof-of-reserves.

Cons: Because OKX offers so much, the app and website can be a bit overwhelming for beginners. There are basic buy options, but the sheer number of features (trading modes, finance, bots, etc.) might confuse new users . Customer support is sometimes slow according to user reports . Also, being an international exchange, some parts of the app might promote features not available in Singapore due to regulations (like some high-risk products might be geo-restricted). Stick to the basics and you’ll be fine.

Mobile/Desktop: Yes, OKX has a popular mobile app and a web platform. You can do everything on the app, but for learning purposes the web might present info more clearly on a big screen. They have a “simple buy” widget for beginners.

Security: High – OKX has implemented extensive security after learning from past industry issues. They store most funds offline, and their audited proof-of-reserves lets users verify that OKX holds assets to match customer balances . Always secure your own account with 2FA and anti-phishing codes. As with others, long-term storage in a personal wallet is prudent for large holdings.

Binance (Global Platform)

Binance is one of the world’s largest crypto exchanges, and many crypto enthusiasts are drawn to it for its low fees (about 0.1% trading fee), vast coin selection, and liquidity. However, a very important note: Binance does not have a license in Singapore and has actually been on the MAS Investor Alert List since 2021 . In late 2021, Binance closed its dedicated Binance Singapore service and ceased soliciting Singapore users . This means Binance’s main global platform (Binance.com) should be used with caution by Singapore residents, as it’s not regulated by MAS and the authority has discouraged its use.

That said, some Singaporeans do still use Binance’s global platform (at their own discretion) by accessing the website/app directly. Binance no longer supports direct SGD deposits/withdrawals, but you can buy crypto on Binance via other means:

• Credit/Debit Card: Binance allows Visa/MasterCard purchases of crypto. If you use a SGD card, your bank may convert to USD or charge a fee, and Binance will charge around 3-4% for the card transaction – so this is an expensive route.
• P2P Marketplace: Binance has a built-in peer-to-peer market where you can find local sellers who accept SGD (via bank transfer, PayNow, etc.). This is essentially like using Paxful but within the Binance interface. On the P2P platform, Binance acts as escrow – you send SGD to the seller directly, and they release BTC to you on Binance. Fees on Binance P2P are 0% for buyers (sellers pay a small fee), but prices are set by the market, so check the rates and seller reputations.
• Trading Other Currency or Stablecoins: Some users buy USD stablecoins (like USDT/USDC) elsewhere, deposit to Binance, then trade for BTC to access Binance’s liquidity and services.

Pros: Lowest trading fees globally, huge range of coins and features. If you’re an advanced user, Binance offers everything under the sun (derivatives, staking, etc.). It also has a Lite mode in its mobile app that simplifies the interface for beginners, showing just a simple buy/sell screen and portfolio – this can be handy if you choose to use it.

Cons: Not MAS-regulated, meaning you don’t have the same legal protections. In fact, using it is technically against MAS advice. There’s a risk that the website could be geo-blocked or certain services cut off for SG (though currently Binance.com is accessible). Also, fiat support is limited – no SGD direct support, so funding your account is a hassle. You’ll likely rely on the P2P market which requires trust in sellers and quick action. Customer support for Binance is infamously slow if you ever have an issue, and resolving problems across jurisdictions could be hard.

Mobile/Desktop: Binance has both and even a Binance Lite vs Pro mode. The Lite mode is beginner-friendly and available once you login on the app (you can toggle to Lite for a simpler experience). The Pro mode has charts and advanced tools. On desktop, the default is advanced trade view, which can overwhelm new users. So if you’re new, stick with trusted simpler platforms above, or use Binance Lite.

Security: Binance has had past security breaches (e.g. a hack in 2019 where 7,000 BTC were stolen, which Binance covered from their insurance fund). They do have strong security features (2FA, device management, withdrawal whitelist, etc.) and most users are safe if they enable these. But remember, if anything goes wrong, you are dealing with an unlicensed entity from MAS’s perspective, which could make recourse difficult. If you do use Binance, be very cautious, double-check URLs (to avoid phishing), and consider moving coins off to your own wallet promptly.

Note: Given MAS’s stance, many users in Singapore have shifted to other platforms like Crypto.com, Coinhako, or Gemini which offer a similar ease of buying but within the regulated environment . Binance’s own advice to Singapore users has been to use regulated platforms to comply with local laws. So while Binance is undeniably a major exchange globally, weigh its pros and cons carefully in Singapore’s context.

Other Notable Exchanges

There are a few other exchange platforms you might come across:

• Kraken: A reputable US-based exchange known for low fees (0.16/0.26%) and strong security. Kraken does not support SGD deposits directly (no SGD trading pairs), but Singapore users can use it by depositing USD or other currencies. It supports funding via SWIFT or intermediate services. Kraken is not as popular locally due to the lack of SGD, but it’s mentioned for its good reputation. It’s suitable if you plan to trade in USD or use a USD stablecoin as base. They do have a Singapore office and one of the easier interfaces for beginners among “pro” exchanges , but again, lack of SGD is a drawback.
• Huobi (HTX): Huobi rebranded to HTX, and although originally from China, it now has a presence in Singapore . HTX offers many coins and has a base 0.2% trading fee . It may support SGD in some form (possibly via third-party channels or stablecoins), but it’s not widely used by beginners here. Exercise caution as the platform had some management changes recently.
• Bitstamp, Bitfinex, etc.: These are large international exchanges. Bitfinex has SGD trading for a couple of pairs, but it’s more for advanced users and requires international bank wiring. Bitstamp doesn’t support SGD directly but is a solid Euro/U.S. exchange. They’re generally not the first choice for a newcomer in Singapore.

The exchanges we detailed earlier are more than enough to get started. Now, let’s look at peer-to-peer methods if you prefer a more decentralized approach or need alternative payment methods.

Peer-to-Peer (P2P) Platforms

Peer-to-peer platforms let you buy Bitcoin directly from other individuals, usually through an online marketplace that escrows the Bitcoin until payment is made. This can be useful if you want to use unusual payment methods or find better rates, and it’s also a way some people buy Bitcoin without going through an exchange order book. In Singapore, P2P trading is perfectly legal (Bitcoin is legal and regulated here ), though it’s less popular than using exchanges because of the ease of access to regulated services . Still, let’s cover the major P2P options:

Paxful

Paxful is a well-known global P2P Bitcoin marketplace. It allows buyers and sellers to meet on their platform and trade BTC for over 300+ payment methods – from bank transfers and PayNow, to gift cards, PayPal, or even cash deposits. In Singapore, you can easily find offers to buy Bitcoin via bank transfer, PayNow, or e-wallets on Paxful. Paxful does not charge buyers a fee (0% fee for the buyer) . Sellers pay a 1% fee to Paxful for the service, so they usually factor this into their offer price. This means the Bitcoin price on Paxful can be slightly above market as sellers add a margin.

How it works: You sign up (with an email, and you can verify ID if you want higher limits or more trust). You browse offers from sellers – you can filter by payment method “Bank Transfer (Singapore)” or “PayNow” etc. Each seller listing will show the rate (e.g. 1 BTC = S$X, which might be 1-2% higher than official rate as their profit), min/max trade size, and the seller’s reputation score. When you initiate a trade, the amount of BTC you’re buying is locked in escrow by Paxful. You then follow the payment instructions – typically, the seller will give you their bank account or PayNow details, you transfer the agreed SGD, then you click “Paid”. The seller confirms receipt and releases the BTC to you on Paxful. If anything goes wrong (e.g. seller doesn’t release but you paid), you can raise a dispute and Paxful’s moderators will step in (hence the escrow protection).

Pros: Flexibility. You can use various payment methods. It’s also “fee-free” for buyers aside from the margin in price . You don’t necessarily need to complete full KYC for small trades – Paxful’s tiers allow some trading with just email/phone verification (for example, up to a certain lifetime limit) – but for larger amounts you will need ID verification for compliance. Paxful can be useful if you, say, have cash or a certain gift card you want to trade for BTC.

Cons: Risk of scams if not careful. You must only trade with reputable sellers (check their ratings and how many trades they’ve done). Never trade outside the platform or you lose the escrow protection. The process requires trust that you follow steps exactly – if you make a mistake in payment reference, etc., it could complicate things. Also, liquidity in Singapore P2P might be lower; you may find fewer offers in SGD compared to USD or other currencies. Paxful itself had a turbulent time in 2023 (briefly suspending operations in April 2023 due to internal issues, then resuming in May 2023) – but it’s operational now . Always be cautious and start with small amounts if you’re new to P2P.

Security: Paxful holds your Bitcoin in escrow during a trade, which safeguards the buyer. Outside of trades, if you keep a BTC balance in your Paxful wallet, ensure you secure your account with 2FA and strong password. But ideally, move the BTC to your own wallet after purchase. Unlike an exchange, Paxful’s platform doesn’t take custody beyond the trade (unless you choose to use their wallet service longer-term).

LocalBitcoins (Historical) and Alternatives

LocalBitcoins was the original P2P Bitcoin marketplace where many Singaporeans and people worldwide traded BTC for years. However, LocalBitcoins shut down in February 2023 due to market conditions . If you see references to it, note that it’s no longer available for trading. Paxful largely took its place globally.

Other P2P or decentralized options include:

• HodlHodl: A P2P platform that doesn’t require KYC at all (it’s non-custodial and multi-sig escrow based). It’s more advanced and has a smaller user base, but for privacy-conscious buyers it’s an option. Not very beginner-friendly though.
• Bisq: A decentralized exchange software you run on your computer. It allows truly peer-to-peer trades including in SGD, using bank transfers. It’s fully decentralized (no central website). While it offers maximum privacy and no central authority, the liquidity can be low and it requires running an application and some technical know-how.
• Binance P2P: Mentioned earlier, Binance’s P2P section is quite active in many countries including possibly Singapore. It’s similar to Paxful but integrated in the Binance app. The pros are a large user base and no fees for buyers, the cons are similar – need to be cautious and only trade with verified users. If you already have a Binance account, you could check this out.

In general, peer-to-peer trades in Singapore form a relatively small part of the market because buying via licensed exchanges is so straightforward here. But it’s good to know these methods exist, for example if you ever needed to obtain Bitcoin without using your bank (some people do P2P for privacy or if they are unbanked). Always exercise extra caution and never go outside the platform’s rules and escrow.

Bitcoin ATMs (Cash)

Bitcoin ATMs are machines that allow you to buy Bitcoin with cash (and sometimes sell Bitcoin for cash). In Singapore, a few Bitcoin ATMs popped up in the past (for example, at malls or certain shops). Using an ATM is simple: you scan your Bitcoin wallet QR code (to provide an address for receiving the BTC), then insert Singapore Dollar notes, and the machine sends Bitcoin to your address. They often require only a phone number verification (via OTP) for small amounts, making them quite accessible . The convenience and anonymity come at a cost: ATM fees are typically 5–10% on top of market price , which is significantly higher than online methods.

However, important update: In January 2022, MAS issued guidelines that led to the shutdown of crypto ATMs in Singapore . The regulators felt that easily accessible ATMs might encourage the public to trade crypto on impulse, which goes against their push for caution. As a result, major ATM operators like Daenerys & Co. had to suspend operations overnight .

As of 2025, Singapore has very few to no public Bitcoin ATMs operating. If any exist, they are likely not actively advertised due to these regulations. (In contrast, places like Hong Kong have hundreds of crypto ATMs, but Singapore took a stricter stance .)

Bottom line: While conceptually an ATM is a way to buy Bitcoin, in practice you might not find one easily in Singapore anymore. If you do come across one, be aware of the high fees and follow the on-screen instructions carefully. Always check the provider’s credibility (some ATMs are operated by legitimate companies, others could be shady). And remember MAS’s warning: crypto ATMs are not to be seen as “safe” just because they are in public – due diligence is still needed.

Financial Services and Apps Supporting SGD

Beyond crypto-specific exchanges, there are fintech apps and traditional financial institutions in Singapore that offer Bitcoin purchase options:

Revolut

Revolut is a popular fintech app (essentially a digital bank account and multi-currency wallet) that also offers cryptocurrency trading. Revolut Singapore secured an MAS license to offer DPT services , so it is regulated. If you already use Revolut for FX or stock trading, you can find the crypto section in the app and buy Bitcoin directly with your SGD balance. It’s very convenient: no separate account signup needed if you’re a Revolut user. You can buy fractions of Bitcoin (even $10 or $50 worth) easily, and Revolut will hold it for you.

How it works: You top up your Revolut SGD wallet (for example, via FAST transfer or card top-up). Then in the app, go to Crypto -> select Bitcoin -> enter the amount of SGD you want to spend, and swipe to buy. Revolut uses a broker to execute the trade instantly, and you’ll see the BTC in your Revolut account (as a balance, like how you see other currencies).

Fees: Revolut does charge a spread/fee on crypto trades. For standard plan users, the fee is around 2.5% per trade, and for Premium/Metal plan users, around 1.5% (these figures can be updated by Revolut, so check their Fees Page in the app). They sometimes have monthly free volume limits for premium users. The exchange rate is clearly shown when you preview the trade.

Pros: Extremely user-friendly – if you can use Revolut, you can buy crypto on it. Good for small, quick purchases or if you’re just testing the waters with, say, $50. The app is well-designed and it’s as easy as exchanging currency. Since Revolut is MAS licensed, it provides the standard risk warnings and presumably holds crypto with reputable custodians.

Cons: You do not control the actual Bitcoin’s private keys, and until recently, Revolut did not allow withdrawals of crypto to external wallets. (Revolut globally has started to allow Bitcoin withdrawals for some jurisdictions in limited rollout – you’d have to check if Revolut SG now allows you to send BTC out to another wallet. As of last known info, it was quite restricted or not available in Singapore yet.) This means Revolut is more like buying Bitcoin exposure; you can always sell it back to SGD within the app, but using that Bitcoin outside Revolut might not be possible. This is a big consideration if you truly want to own and use Bitcoin – with Revolut, it’s a bit like an investment account. Additionally, fees are higher than using a real exchange, so it’s not ideal for large purchases (2.5% fee on $1000 is $25, which is much higher than, say, $5 on Coinhako). Revolut also has limited crypto selection (just the major coins), and no advanced trading features.

Mobile/Desktop: Revolut is primarily a mobile app. There is a desktop interface for some account features, but crypto trading is done in-app.

Security: High on the fintech side – your account is protected by PIN/biometrics, and Revolut itself is a regulated entity employing bank-grade security. But remember, you’re trusting Revolut completely with custody of your Bitcoin. They provide risk warnings (e.g. MAS-required warning that being licensed doesn’t guarantee you won’t lose all your money if they fail ). Use Revolut’s security options like 2FA on login and set up the security settings inside the app. And as always, be cautious of scams – e.g. don’t let anyone who calls you on the phone convince you to trade crypto on Revolut or anywhere (common sense, but worth stating).

DBS and Traditional Banks

DBS Bank, Singapore’s largest bank, has its own cryptocurrency trading desk/service called DBS Digital Exchange (DDEx). However, this is not open to the general public or retail investors. It’s targeted at institutional and accredited investors (high net worth clients). So, if you’re a DBS Private Bank or Treasures customer who meets certain income/net worth thresholds, you can access DDEx via your relationship manager. For the average person, this is not an option – you can’t just walk into DBS and buy Bitcoin from your savings account.

That said, it’s worth noting that DBS has embraced crypto for its wealthy clients, and MAS has allowed banks to dabble in this space carefully. The easiest and most common way for retail users remains using the independent exchanges or apps described above .

Other local banks (OCBC, UOB) do not currently offer crypto trading to retail customers. They might be involved in institutional projects or custody solutions, but no retail product as of 2025.

Financial Services Summary: In essence, stick to the crypto-native platforms for now, unless you happen to be eligible for the bank-run investment products. Fintech apps like Revolut (and potentially others like Syfe or StashAway in future if they launch crypto offerings) can be a handy alternative for small investments. Just always understand the trade-offs (custody, fees, and whether you can withdraw your crypto).

Comparison of Major Platforms

To help you choose, here’s a comparative table of popular Bitcoin purchasing methods in Singapore, highlighting fees, ease of use, KYC, security, and speed:

Comparison of Platforms to Buy Bitcoin in Singapore

Platform / Method	Fees (approx.)	Ease of Use	KYC Requirements	Security	Speed (to get BTC)
Crypto.com (Exchange)	0.4% trading fee; 3.5% for card buys	Very Easy (intuitive app)	Yes – Verify ID (MAS licensed)	High – Regulated, 2FA, cold storage	Fast (minutes for bank tx)
Coinbase (Exchange)	1.49% trading; 3.99% card	Very Easy (beginner UI)	Yes – Verify ID (MAS licensed)	High – Trusted global, insured hot wallet	Fast (instantly after deposit)
Gemini (Exchange)	~1.49% on app; 0.25% ActiveTrader	Easy	Yes – Verify ID (MAS in-principle license)	Very High – Security-first, SOC2 compliant	Fast (FAST deposit in min)
Coinhako (Broker)	0.9% per trade	Very Easy	Yes (Small trial < S$100 without ID)	Medium-High – 2FA, local company (past minor breaches addressed)	Very Fast (within 10 min)
Independent Reserve	~0.5% trading (tiers)	Moderate (pro interface)	Yes – Verify ID (MAS licensed)	High – Established, no hacks, 2FA	Fast (instant Xfers deposit)
OKX (Exchange)	~0.1% trading (low)	Moderate (feature-rich)	Yes – Verify ID (MAS licensed)	High – Proof of reserves, audits	Fast (PayNow real-time)
Binance (Global)	0.1% trading; 0%/market spread P2P	Moderate/Hard (advanced)	Yes – (Not MAS regulated, but KYC needed globally)	Medium – Good tech security, but unlicensed in SG	Variable: Card instant; P2P depends on seller (often minutes)
Paxful (P2P marketplace)	0% buyer fee (seller ~1% fee)	Moderate (requires choosing offers)	Varies – Email/phone for small trades; ID for higher volumes	Medium – Escrow protects trades, but trust on counterparties	Varies (could be 10-60 min depending on payment clearance)
Bitcoin ATMs	5–10% fees on cash	Easy (if available)	Minimal – (Phone number OTP)	Medium – No personal data stored; machine must be trusted	Instant (you get BTC on the spot)
Revolut (Fintech app)	~1.5–2.5% per trade (built into rate)	Very Easy (familiar app)	Yes – (Already KYC’ed for banking)	High (app security) – But user has no private keys	Instant (few seconds)

(Fees and details are current as of 2025, but always check the latest terms as they can change. “Ease of Use” and “Security” are relative ratings for quick comparison.)

From the table, you can see that licensed exchanges like Crypto.com, Coinbase, Gemini, Coinhako, Independent Reserve, and OKX offer a balance of ease and security, with reasonable fees. Platforms like Binance have low fees but come with regulatory caveats. Paxful and P2P trades offer flexibility but require more effort and caution. ATMs have the highest fees and are currently scarce due to regulations. Revolut and similar apps make buying effortless, but at the cost of higher fees and lack of self-custody.

Regulatory Compliance in Singapore

Singapore’s regulatory environment for crypto is robust and is designed to protect consumers without stifling innovation. Here are some key points to be aware of:

• MAS Licensing: As mentioned, exchanges that serve Singapore users are either licensed by MAS or operating under exemption while awaiting license. Using a licensed platform means it adheres to MAS guidelines on KYC (Know Your Customer), AML (anti-money laundering), and technology risk management . Expect to provide ID documents and sometimes even information on fund sources for large transactions – it’s normal and for your safety.
• Consumer Protection: MAS requires licensed firms to issue risk warnings to consumers. For example, you’ll often see a notice like: “Please note that the DPT services are not risk-free. You may not be able to recover all the money you spent for purchasing DPTs if the DPT service provider’s business fails.” . Essentially, even if an exchange is licensed, it doesn’t guarantee you’ll be made whole if that company goes under. Hence, the advice to not store all your crypto on any single exchange.
• Taxation: The good news – in Singapore, long-term capital gains are not taxed. So if you buy Bitcoin and later sell at a profit, as an individual investor you generally do not owe tax on that profit . (This is a big reason many see Singapore as crypto-friendly!) However, if you are trading professionally or as a business, or earning crypto income, other tax rules may apply. When in doubt, consult a tax professional.
• Advertising Rules: MAS has strict guidelines that crypto services should not advertise to the general public in a way that trivializes risks . That’s why you don’t see crypto ads on trains or buses in Singapore anymore. This also led to the removal of Bitcoin ATMs as mentioned. As a result, you are expected to make informed decisions without being enticed by flashy ads. The flip side is MAS has been supporting industry growth behind the scenes, issuing licenses to serious players (13 new DPT licenses were granted in 2024 alone, indicating a pro-growth stance within a regulatory framework ).
• Identity Verification: By law, exchanges must collect identity info and verify users, as part of anti-money-laundering efforts . This means you should never trust any platform that claims you can buy large amounts of Bitcoin without ID – it’s either a scam or illegal. Only very small P2P trades or decentralized methods would allow anonymity, and even then, if something goes wrong you have no recourse. So, embrace the KYC – it’s the norm in Singapore.
• Consumer Responsibility: Ultimately, MAS and the government encourage personal responsibility. They’ve even issued guidelines to discourage the public from speculative trading . This doesn’t mean you shouldn’t buy Bitcoin; it means you should do so wisely. The fact you’re reading this guide is a great first step – educating yourself. Continue to stay updated, use official channels, and be wary of offers that sound too good to be true.

Security Considerations & Best Practices

Buying Bitcoin is only the first step; keeping it secure is the ongoing mission. Here are some friendly reminders to ensure your crypto journey is safe and sound:

• Use Two-Factor Authentication (2FA): All reputable platforms support 2FA (typically via Google Authenticator, Authy, or SMS). Always enable 2FA for logins and especially for withdrawals. This adds a layer of protection so even if someone somehow got your password, they can’t move your funds without the one-time code.
• Secure Your Email and Devices: Your exchange accounts are tied to your email. Use a strong, unique password for your email and enable 2FA on the email as well. Beware of phishing emails that look like exchange communications – always verify the sender or, better, never click links from emails; instead, go directly to the official site/app. Keep your phone and computer free of malware (update regularly, maybe use antivirus).
• Personal Wallets for HODL: As mentioned, consider transferring your Bitcoin to your own wallet if you don’t plan to trade it frequently. A hardware wallet (like a Ledger or Trezor device) is a popular choice for storing significant amounts safely offline . If a hardware wallet is not immediately an option, even a mobile wallet (like Trust Wallet, Exodus, or BlueWallet) where you control the seed phrase is better than leaving everything on an exchange long-term. Exchanges can be targets for hacks, and while the top ones are very secure, the mantra is “Not your keys, not your coins” – true ownership comes from holding your private keys.
• Beware of Scams: Unfortunately, the crypto world has scammers who might target newcomers. Some red flags to watch for:
  
  • Promises of guaranteed returns: If someone says “join our scheme and get 10% monthly guaranteed,” run away – it’s not legit.
  • Impersonation scams: You might get DMs on Telegram or WhatsApp from people pretending to be support staff or “investment managers” – do not trust random contacts. Official support will never DM first or ask for your password/2FA codes.
  • Phishing websites/apps: Make sure you’re using the correct official app (check the developer name) or website (double-check the URL, e.g. coinbase.com, not co1nbase.com). Bookmark the legit sites.
  • Too-good OTC deals: If someone offers to sell you Bitcoin privately at a big discount, it’s likely a trap or stolen coins. Stick to the platforms we discussed, especially as a beginner.
• Stay Updated: The crypto space evolves quickly. New regulations can come, exchanges can update policies, etc. Follow local news or forums (like the r/sgcryptocurrency or r/singaporefi Reddit) for community updates. Since Singapore is big on crypto events, you could even attend meetups or seminars (just use the same caution as anywhere – there are legit fintech meetups and also some shadier salesy ones).
• Test with Small Amounts: If you are trying a new platform or method (say you decided to try Paxful or a new exchange), do a small test buy first – maybe $50 or $100 – to familiarize yourself with the process and make sure everything works as expected. This way if there’s any mistake, the stakes are low.
• Backup Important Info: If you set up a personal wallet, securely backup your recovery phrase offline (write it on paper and keep it safe from fire/flood, or use metal backup tools). If you lose that, you lose access to your crypto. For exchanges, keep records of your account creation (like which email you used, etc.) and maybe account statements for your own tracking.

With these practices, you’ll significantly reduce the risks and be able to enjoy being a Bitcoin holder with confidence. Singapore provides a relatively safe environment with its regulations and reputable services, but your security ultimately hinges on you too.

Conclusion

Buying Bitcoin in Singapore is an exciting step into the world of cryptocurrency. You have a plethora of options – from ultra-easy mobile apps to feature-rich exchanges – all supporting SGD and operating under clear guidelines. To recap:

• Centralized exchanges like Crypto.com, Coinbase, Gemini, Coinhako, Independent Reserve, and OKX offer the most straightforward experience. They require ID verification (per MAS rules) , but in return you get a safe and user-friendly way to convert your SGD to BTC . Each has its pros and cons (fees, interface, coins offered), but you can’t go far wrong starting with one of these well-known names. They also provide mobile and desktop access, so you can trade at your convenience.
• Peer-to-peer platforms such as Paxful allow more payment flexibility and can be used if you prefer dealing directly with sellers. Just approach them carefully, stick to platform rules, and be aware of the slightly higher prices you might pay for the convenience of alternative payment methods . With LocalBitcoins gone , Paxful and Binance P2P are the main P2P avenues. They’re a bit like online marketplaces – great for some scenarios, but not necessary for most beginners given easier options available.
• Financial service apps like Revolut integrate crypto buying seamlessly into everyday banking apps. They’re awesome for a quick buy or to dip your toes in, but remember the limitations (you might not be able to withdraw crypto to your own wallet, and fees are higher). These are improving over time as crypto becomes mainstream in fintech.
• You even learned about Bitcoin ATMs, which conceptually are cool, but in Singapore they’ve been curtailed by regulation . Maybe in the future they’ll return in a compliant way – who knows? For now, they’re more of a trivia item in the SG context.

Throughout all these methods, regulatory compliance and KYC is a common thread – Singapore doesn’t have anonymous unregulated exchanges locally. This is actually a positive for most users, as it filters out a lot of bad actors. By using licensed platforms , you’re already taking a safer route.

Finally, keep the tone positive and motivational: You’re taking control of your financial journey by learning about Bitcoin. As with any investment, there will be learning moments, but plenty of resources and a vibrant community are out there to help. Singapore’s crypto scene is quite active – from forums to meetups – full of people who started just like you. With the knowledge from this guide, you have the foundation to buy Bitcoin in a secure, informed manner.

Empower yourself with continuous learning, invest responsibly, and welcome to the world of Bitcoin! Every big journey begins with a single step (or a single satoshi), and you’ve just taken yours. Happy buying, and stay safe in your crypto endeavors!

sources:

• MoneySmart Singapore – Compare Crypto Exchanges in Singapore 2025 
• BuyBitcoinWorldwide – How to Buy Bitcoin in Singapore (2025) 
• 99Bitcoins – Singapore Buyer’s Guide 2025 
• FintechNews SG – Licensed Crypto Providers in Singapore (2025) 
• MAS Guidelines / Media – Risk Warnings and Regulatory Stance 
• Paxful & Others – P2P Trading Info 
• Exchange Websites/Support – Fee and feature details