How to buy Bitcoin (Singapore guide)

Things you need beforehand

To buy Bitcoin (as a Singaporean), you need:

  1. A crypto-exchange account (e.g. Gemini, Binance, Coinbase)
  2. A hot wallet to hold small amounts of Bitcoin (e.g. Blockstream Green, Electrum)
  3. A cold wallet to hold large amounts of Bitcoin (e.g. Ledger, Trezor)

Step-by-step instructions to buy Bitcoin

For those in a huge hurry, here’s the TLDR version:

  1. Set up a Gemini account. (Gemini is the recommend crypto-exchange account for Singaporeans.)
  2. Approval for account should be completed within 1 hour.
  3. Set up your bank details.
  4. Switch to “Expert” mode. (Go to “Settings” > “Account” > “ActiveTrader Advanced” > “Trading interface”).
  5. Transfer funds into your Gemini account. (Go to “Transfer” > “Deposit into Gemini”.) The transfer should be register on Gemini within 5 hours.
  6. Head over to your bank (e.g. DBS) and do a FAST transfer.
  7. Make a limit order for BTC-SGD.
  8. Read one of the two step-by-step instructions below depending on whether you choose Blockstream Green or Ledger.

Store Bitcoin Blockstream Green wallet

  1. Create a Blockstream Green account. Check out our post to set up a Blockstream Green account.
  2. Transfer Bitcoin from Gemini to your address on Blockstream Green.
  3. You’re done!

Store Bitcoin on Ledger

  1. Buy a Ledger cold wallet and have it be delivered to your home.
  2. Once you receive your Ledger, set it up.
  3. Transfer Bitcoin from gemini to your address on your Ledger.
  4. You’re done!