The cryptocurrency scene can feel overwhelming to those outside its immediate circle. After all, it’s a space that’s buzzing with fancy terminology, an overly enthusiastic user base, and volatile price swings that can make hearts flutter or stomachs drop.
That said, the thought of striking gold through strategic crypto investing can be quite tantalising, and in some cases, it has become a reality for many lucky individuals who scored early.
While the exponential growth potential of Bitcoin has likely come and gone, it is still a serviceable investment option for those looking to dip their toes into the crypto movement.
This is especially true for Singaporeans, as local regulations surrounding crypto are well-developed and built with the citizens’ welfare and security in mind.
If you’re a Singaporean who wants to start investing in Bitcoin, then you’re in the right place. The crypto ecosystem in the country is fantastic for people looking to start their crypto journey.
This guide will advise you on how to invest in Bitcoin in this city-state. Let’s jump right into it!
Choose a Trusted Crypto Exchange Platform
The first thing every new investor should seek before putting money into Bitcoin is a trusted crypto exchange.
Investors in Singapore should ideally narrow their options to licensed and reputable crypto exchange platforms. One way of recognising the trustworthiness of the platform is by taking a close look at its certifications and licenses.
As much as possible, involve yourself with crypto exchange platforms that are licensed and regulated by the country’s central financial authority, the Monetary Authority of Singapore (MAS).
Besides being licensed by MAS, you should also consider other critical points when choosing an exchange. For instance, its security protocols, fee structures, user interface, and available methods are all valid considerations you must think about before picking your desired crypto platform. Having one with a smartphone app is also highly ideal.
In any case, picking licensed platforms and learning how to purchase bitcoin in Singapore through their respective website will make it easier for you to set up an account and guarantee safe transactions whenever you need to trade crypto.
The MAS also requires crypto exchange platform services to strictly comply with strict rules and standards under the Payment Services Act. This includes implementing robust AML protocols, KYC verification processes, cybersecurity enhancements, and operational resilience standards.
MAS has licensed a few operators that can run crypto trading activities in the country, like Coinbase, Crypto.com, and Independent Reserve. Picking among these platforms is usually a safe and good choice for beginners wanting to invest in Bitcoin.
That said, the world of crypto can be dynamic, and licences can expire and not be renewed. As such, it’s wise to stay updated on crypto developments and the licensing status of your chosen platform in 2025 to ensure continued legal protection and access to secure, transparent crypto features throughout your investment journey.
Set Up and Verify Your Crypto Exchange Account
Once you’ve picked the crypto exchange to jumpstart your Bitcoin trading journey, the next step is to create an account on one.
Registration is relatively straightforward at the start. You simply have to provide your email and create a password. You’ll also choose between a personal or business account. After that, you’ll have to verify your identity as part of the Know-Your-Customer (KYC) process required by each platform.
This process may require you to submit a government ID, like a passport or driver’s license. Some may also require you to conduct a video call and submit a current photo of your face and proof of address. After some time following these procedures, you’ll be contacted via email regarding the approval or denial of your application.
Once you’re approved, it’s good practice to enable security protocols to add a layer of protection for your account. Verified and secured accounts also tend to have the least restrictions when it comes to buying, selling, and storing Bitcoin, so this step is optimal to access the full range of features of your chosen crypto platform.
In any case, most crypto exchange platforms allow users to enable two-factor authentication protocols to enhance their accounts’ security. Take advantage of this cybersecurity measure, and you’ll be well on your way to buying and selling Bitcoin safely.
Deposit Funds Using Local or Global Payment Gateways
Once you’ve cleared the account verification process, the next step is to fund your account with currency. As a beginner, you’ll likely deposit in Singapore dollars (SGD).
Most Singaporean crypto exchange websites accept SGD through a variety of ways, including FAST transfers, credit cards, debit cards, and PayNow. These crypto exchanges will provide you with specific bank or account details where you can send your funds.
Furthermore, some payment methods can take a few minutes to a few hours to reflect, so be aware of that for time-sensitive payments. That said, the deposit fee differs based on the exchange platform and the mode of funding, so be aware of these differences so that you won’t end up spending more than you need to.
Furthermore, some crypto exchanges will require a minimum deposit amount. Others may offer lower deposit rates if your deposit meets a specific minimum threshold. In any case, it’s a good idea to follow the deposit instructions to be aware of these requirements and make the most out of your initial deposit.
Buy Bitcoin With Your Funds
Once the funds are in your crypto trading account, you can use this amount (which is still in SGD/fiat currency) to buy your first Bitcoin.
Most platforms make buying Bitcoin easy and straightforward for you, or at the very least, give instructions on how to start.
In most cases, you’ll find Bitcoin and other cryptocurrencies available for trade in the main trading section of your chosen platform. Search for Bitcoin in the search bar, click on it, put in the amount of SGD you’re willing to exchange for Bitcoin (we recommend starting with a small amount), then place your market order.
If the market price reflects the market order price you’ve put up, then you can get Bitcoin in your account successfully. You can also consider putting up a limit order if you have a preferred buying price, but reaching that figure isn’t always a guarantee in the short term.
After purchasing your first Bitcoin, it will appear in your exchange’s wallet. You can either transfer it to a private wallet (hot or cold wallets are optimal choices), store it in the exchange platform in the meantime (which is less secure), or spend it however you want to.
In essence, you’re free to do whatever you want with the Bitcoin. It’s now yours.
Monitor Your Investment and Set Goals
After buying your first Bitcoin, it’s now time to enter cruise control. Ideally, you should have already set a specific goal before investing in Bitcoin. Maybe you want your crypto holdings to be enough to purchase a car. Or perhaps you’d want to fight against inflation for the next five years.
By having a specific goal, you won’t be mindlessly holding onto your Bitcoin for way longer than you should. To add to that, you should also regularly track your portfolio’s performance to ensure that your investment is going along smoothly.
You don’t have to check your crypto’s price every day if you’re in it for the long haul. However, you can set up price alerts or stop loss limits to ensure that you’re always in the loop and can make the best financial plan depending on current economic conditions.
By monitoring your investment and aligning it with your financial goals, you can make smarter decisions that can take your Bitcoin investment to the next level. We wish you the best of luck in your investing endeavours!