How to Buy Cryptocurrency in Singapore

Buying cryptocurrency in Singapore

Buying cryptocurrency in Singapore More recently, Singapore has come to the fore as a hub for cryptocurrencies and blockchain technologies. At the same time, the Monetary Authority of Singapore (MAS), the financial regulatory body of Singapore, has been working to actively regulate Singapore�s cryptocurrency business. MAS believes in regulation of the cryptocurrency ecosystem for the purpose of monitoring crypto-activity-associated risks like terrorism financing and money laundering, but also making sure that it doesn�t stand in the way of innovation. The Payment Services Act (PSA) was implemented in January 2020, and its purpose was to regulate both traditional and cryptocurrency exchanges and payments. The act also presents a framework to procure a license to run cryptocurrency business in the country and highlights money laundering compliances cryptocurrency operators must meet. In legal terms, the country offers great conditions for cryptocurrency transactions, and since cryptocurrencies are considered legal in Singapore, contracts involving said cryptocurrencies aren�t deemed illegal.
As of 20/03/2021

Exchanges Info

These exchanges all accept customers from Singapore. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below

Open a Bybit Account

Bybit

Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.

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