Things you need beforehand
To buy Bitcoin (as a Singaporean), you need:
- A crypto-exchange account (e.g. Gemini, Binance, Coinbase)
- A hot wallet to hold small amounts of Bitcoin (e.g. Blockstream Green, Electrum)
- 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:
- Set up a Gemini account. (Gemini is the recommend crypto-exchange account for Singaporeans.)
- Approval for account should be completed within 1 hour.
- Set up your bank details.
- Switch to “Expert” mode. (Go to “Settings” > “Account” > “ActiveTrader Advanced” > “Trading interface”).
- Transfer funds into your Gemini account. (Go to “Transfer” > “Deposit into Gemini”.) The transfer should be register on Gemini within 5 hours.
- Head over to your bank (e.g. DBS) and do a FAST transfer.
- Make a limit order for BTC-SGD.
- Read one of the two step-by-step instructions below depending on whether you choose Blockstream Green or Ledger.
Store Bitcoin Blockstream Green wallet
- Create a Blockstream Green account. Check out our post to set up a Blockstream Green account.
- Transfer Bitcoin from Gemini to your address on Blockstream Green.
- You’re done!
Store Bitcoin on Ledger
- Buy a Ledger cold wallet and have it be delivered to your home.
- Once you receive your Ledger, set it up.
- Transfer Bitcoin from gemini to your address on your Ledger.
- You’re done!