Does Luno currently work well in Singapore for withdrawals? How about in Malaysia?
I'm looking for a recommendation for an exchange that can withdraw to a local Malaysian bank in Ringgit, but SGD to a Singaporean bank is also an option. It has to be idiot friendly because the person who wants to open the account is crypto-ignorant.
Topic: Current Singapore bitcoin exchange options? (Read 269 times)
I use Luno several times. Though you don't own your crypto because they're the one who has your private key, I think they're a good alternative to buy/sell/cash out. Just remember that if you want to store your Bitcoin or another crypto, move it asap to your own personal wallet.
However, if you don't like KYC, your option is limited. Almost every crypto exchange that has bank relations requires KYC.
However, if you don't like KYC, your option is limited. Almost every crypto exchange that has bank relations requires KYC.
There's Coinbene but there have been rumors that they just got hacked. They denied it though and the site seems ok.
Like it's been said before, Binance will have a local exchange in Singapore soon.
Like it's been said before, Binance will have a local exchange in Singapore soon.
Wouldn't go anywhere near Coinbene even if they didn't get hacked. These guys are well known for inflating trading volumes.
Source 1: Blockchain Transparency Institute (link)
Source 2: Bitwise Asset Management's presentation to SEC (link). See page 29 onwards.
Stay safe.
There's Coinbene but there have been rumors that they just got hacked. They denied it though and the site seems ok.
Like it's been said before, Binance will have a local exchange in Singapore soon.
Like it's been said before, Binance will have a local exchange in Singapore soon.
As Omega and others say, P2P MAN!
But Southeast Asian here and I'll tell you where my Singaporean friends get Bitcoin from and Luno is the top choice, but it's the coinbase of SEA and most Luno users use a Luno wallet which... means you don't really own your BTC.
Someone mentioned Binance moving in, but actually, Bittrex has a Singapore-based crypto-fiat exchange newly launched already called Bitsdaq. So if you like Bittrex and don't mind getting KYC'd, that would be my first option. Gemini, by the way, looks like a solid option by way of big exchanges. For some reason they've managed to operate in Singapore. I'm actually waiting for someone to try Gemini out.
But Southeast Asian here and I'll tell you where my Singaporean friends get Bitcoin from and Luno is the top choice, but it's the coinbase of SEA and most Luno users use a Luno wallet which... means you don't really own your BTC.
Someone mentioned Binance moving in, but actually, Bittrex has a Singapore-based crypto-fiat exchange newly launched already called Bitsdaq. So if you like Bittrex and don't mind getting KYC'd, that would be my first option. Gemini, by the way, looks like a solid option by way of big exchanges. For some reason they've managed to operate in Singapore. I'm actually waiting for someone to try Gemini out.
Coss.io is also an exchange located in Singapore. https://coss.io/ I can't really comment on it since I used it only 2-3 times when it was in its beta phase. After that it asked KYC stuff so I stopped
The only thing is the fees are high for USD/EUR withdraws, 25$ to withdraw 40$ to deposit, EUR 8e to deposit
The only thing is the fees are high for USD/EUR withdraws, 25$ to withdraw 40$ to deposit, EUR 8e to deposit
What are the current exchanges that still have viable banking relationships (to cash out and buy back in to the market). FYBSG had their banking relationship closed so they threw in the towel and ceased operations.
Binance appears to be coming soon: https://www.coindesk.com/crypto-exchange-binance-is-setting-up-shop-in-singapore
thanks for the suggestion. Will look into it. As far as you know, can Singapore bank accounts be used with them? (for both deposits and withdrawals)
Since Luno is an exchange located in Singapore so logically you can do it as Indonesian people can do deposit and withdraw fiat money into Indonesian Local Bank account. You need to look into it yourself.
People say that Luno is the most secured exchange in cryptocurrency with minimal fees. They also have offices in South Africa, Austria, Belgium, Canada and many more.
They said, Luno also have the best technical support and customer service so you must really try it.
thanks for the suggestion. Will look into it. As far as you know, can Singapore bank accounts be used with them? (for both deposits and withdrawals)
Since Luno is an exchange located in Singapore so logically you can do it as Indonesian people can do deposit and withdraw fiat money into Indonesian Local Bank account. You need to look into it yourself.
Putting the P2P trading aside even though it could be the best option and according to this list, you should be able to use Coinmama and Coinbase, they're both reputable exchanges, give them a try.
What are the current exchanges that still have viable banking relationships (to cash out and buy back in to the market). FYBSG had their banking relationship closed so they threw in the towel and ceased operations.
What about Coin Hako?
https://support.coinhako.com/hc/en-us/articles/115002018072-Depositing-via-Inter-bank-Transfers-Web-Version-
You can always use LocalBitcoins if you want to find a local merchant to exchange Bitcoin.
Don't know much about exchanges That are eligible for trading in Singapore but I use luno for converting my cryptocurrencies into fiat and I had not had any issues with it yet
thanks for the suggestion. Will look into it. As far as you know, can Singapore bank accounts be used with them? (for both deposits and withdrawals)
How about Luno? AFAIK luno is the biggest bitcoin exchange from Singapore. Have you tried it? I have an account there although I'm Indonesian and I can use it like my local bitcoin exchange Indodax, means that I can use bank account to deposit and withdraw fiat money.
What are the current exchanges that still have viable banking relationships (to cash out and buy back in to the market). FYBSG had their banking relationship closed so they threw in the towel and ceased operations.
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