5 Ways To Buy And Invest In Bitcoin In Singapore

Bitcoin has gone up by 190% year-to-date, and nearly 33,500% since 2015. For the past 2 decades since it was first released to the public, Bitcoin has significantly outperformed every other known asset class; from gold which has been an age-old insurance against inflation to even the most sophisticated financial instruments on Wall Street.

Bitcoin’s value continues to grow. Institutional players like Standard Chartered forecast that it will reach USD 120,000 in value by 2024. Essentially, it still isn’t too late to join the train and buy some Bitcoin for your investment portfolio.

So, if you live in Singapore, what are the means by which you can buy Bitcoin? Read on to learn more.

Why should I buy Bitcoin in Singapore?

At this point, you must be asking yourself — why should I involve myself in Bitcoin trading in Singapore? Why does it matter? How is it different from investing in the SGX? Well, let us list a few reasons below.

1. Bitcoin has a Significant Upside Potential

As we said earlier, Bitcoin has grown by more than 30,000% since 2015 and is projected to grow even much higher, to reach US$120,000 next year. There just aren’t any other asset classes that offer that much upside.

Of course, it is a little bit more risky than investing in traditional stocks, but it definitely cannot hurt to put a little capital aside just so that you do not miss out completely when it rallies.

2. Robust Regulatory Structure

Singapore has one of the world’s most advanced legal and regulatory frameworks for Bitcoin. What this means for you as a Bitcoin investor in Singapore is that you are essentially protected from most of the high risks that are associated with crypto investing everywhere else in the world. Basically, in Singapore, you can invest in Bitcoin and go to sleep with your two eyes closed.

3. Diversification

As an investor, you need to spread your investment across as many baskets as possible. This not only protects you from downsides, it also enables you to access growth opportunities across several fronts. Bitcoin is one of those promising fronts, and investing in it may just be what helps you earn more returns on your portfolio than you ever had in the past.

5 Ways to Buying Bitcoin in Singapore 

Now that you’re ready to buy Bitcoin in Singapore, where  here’s how to go about it:

1. Buy from a Cryptocurrency Exchange

One of the most popular options to buy Bitcoins in Singapore is to buy from cryptocurrency exchanges. A crypto exchange like Independent Reserve will grant you absolute freedom to buy Bitcoins in many forms, including derivatives and other advanced financial instruments.

Also, it’s not usually only Bitcoin. You can also buy other major cryptocurrencies like Ethereum and Ripple. You will even gain access to many other less-known tokens in case you would like to jump on a quick rally. You can equally access opportunities in the Blockchain technology universe, like NFTs and many others.

2. Buy from Peer-To-Peer (P2P) Exchanges 

Another popular option is to transact through peer-to-peer Bitcoin exchanges. Essentially, instead of buying your tokens directly from a Bitcoin exchange in Singapore, you can easily buy them by transacting with a peer.

Many exchanges also offer platforms for this. The “peer” in this instance does not necessarily mean a colleague, friend, or somebody that you already know. Instead, it just refers to other cryptocurrency investors like you who would be present on the market, searching for buyers for their tokens.

Understandably, there is a lot more risk involved here than in buying Bitcoins directly from a cryptocurrency exchange. However, many exchanges have taken significant steps to address this risk. For example, many Bitcoin exchanges now utilize escrow systems to ensure fairness.

3. Bitcoin Derivatives

There are always two types of investors; the one who just wants to hold basic instruments and earn capital gains, while the other enjoys the thrill of the more advanced derivatives that would leave the average person with a headache. Well, if you are one of those people who truly enjoy buying derivatives, you can also invest in Bitcoin by buying Bitcoin derivatives.

These derivatives include futures, options, forwards, and swaps. With these products, you usually would not be buying and holding actual bitcoin, rather you would be trading and profiting off price changes. You must note, however, that this is significantly a lot more risky than just buying Bitcoin. But, as it always is, the higher the risks, the higher the rewards if it pays off.

4. Bitcoin ATM Machines

Singapore is renowned for its embrace of Bitcoin and crypto technologies. Its approach to developing a robust and fair legal and regulatory framework for the cryptocurrency industry is well regarded as one of the best around the world.

These regulatory conditions have allowed for the introduction of Bitcoin ATMs in Singapore, where you can transact Bitcoin, just like any regular ATM. You would typically find these machines at upscale malls and business districts around Singapore.

Usually, these machines work by taking cash which you will feed into it via a slot provided for the purchase. You can also use a debit card if you so wish. The machine then takes this fiat currency, converts it to Bitcoin at the prevailing market rate, and then sends it to your Bitcoin address. Pretty cool, right?

5. Buy Stocks That Have Exposure to Bitcoin

Finally, the last option here is to buy stocks that have exposure to Bitcoin. We know that Bitcoin and the cryptocurrency scene in general can be quite volatile. So, some investors may be understandably skittish about holding Bitcoin and other cryptocurrencies.

Well, that still should not stop you from investing in Bitcoin. There are many public companies listed on the stock exchanges, whose stock prices are linked to Bitcoin. This includes names from exchanges like Coinbase which is the first Crypto exchange to become publicly traded. 

There are also many other companies who, although do not operate in the crypto space, are linked to Bitcoin, through either the influence of their activities in the space or their notable Bitcoin holdings. This includes carmaker Tesla, business intelligence company MicroStrategy, and payment companies like PayPal.

Conclusion

Bitcoin has come to stay, and investing in it is for everybody. Regardless of your risk tolerance, technology shrewdness, or financial acumen, there are many investment products out there through which you can participate and enjoy Bitcoin’s continued growth.

What you need is a Bitcoin exchange in Singapore that understands your needs and is dependable.