An individual who is used to conventional financial products may experience a sense of apprehension when purchasing Bitcoin. The good news is that there are numerous ways to buy Bitcoin Singapore and other cryptocurrencies, including stockbrokers, dedicated exchanges, and even in-app purchases in certain crypto-linked applications.
Before deciding how to buy Bitcoin Singapore, it always narrows down to what you find enticing. With that being said, let’s take you through a few of the paths you can take to buy Bitcoin in Singapore.
Bitcoin is currently accessible through cryptocurrency exchanges in Singapore. The majority of them provide a plethora of options, while others only offer Bitcoin and a few alternatives. Do your research before settling on any of them because they come with a variety of various fees and consumer protections. Ensure that you consider the features that render a crypto exchange platform worthwhile, and subsequently determine the most suitable option for your requirements.
There are currently a limited number of traditional brokers in Singapore that offer customers the ability to buy and sell Bitcoin. Nevertheless, this does not imply that you are unable to leverage them to your advantage. By offering Bitcoin, Robinhood was the first mainstream investment broker to do so.
Robinhood does not impose any fees on Bitcoin transactions, which is quite similar to its stock-trading platform. Fidelity is one of the additional online brokers that offer access to Bitcoin or other cryptocurrencies. Before settling on any of them, it narrows down what each offer has to offer.
Some crypto applications, such as games, crypto wallets, or other online services that make use of blockchain technology, enable users to buy and sell digital assets right within the application. Those who are utilizing currency in one of these applications may ultimately rely on a third party to fulfill their order. These orders offer some benefits in the form of fast, comparatively painless transactions, but they can occasionally cost a little more than standard exchanges.
If you decide to acquire Bitcoin, you will require a storage facility. For those who are unaware, Bitcoin can be stored in either a heated wallet or a cold wallet. While transactions in a hot wallet are typically faster, a cold wallet frequently includes additional security measures that help to keep your assets secure but also make transactions take longer.
Things You Should Know before Buying Bitcoins in Singapore
