Summary: The most reliable way to purchase Tether in Singapore is through a reputable cryptocurrency exchange that accepts SGD deposits. This facilitates traders to securely transfer funds using bank transfers, debit cards, credit cards, and additional payment options to acquire USDT and other stablecoins. Our top recommendation for Singaporean investors is Independent Reserve. As a leading MAS-regulated crypto trading platform in the country, it offers fast deposits for buying Tether along with over 40 other tokens at competitive fees.
- Fast and cheap Singapore Dollar (SGD) deposits from any Singapore-based bank.
- Trade 40+ Cryptocurrencies and Stablecoins (USDT) with low fees and tight spreads.
- Most trusted in Singapore and was the first MAS-licensed crypto trading platform.
Can I Buy Tether in Singapore?
Yes, Singaporean traders can safely buy USDT through approved cryptocurrency exchanges in Singapore. Finding one in accordance with Monetary Authority of Singapore (MAS) regulations is vital for adhering to local financial laws. These platforms facilitate transactions in Singapore Dollars through local bank accounts or associated credit cards. They deliver a secure, regulated environment for purchasing digital currencies like Tether throughout the country.
How to Buy USDT in Singapore
Buying USDT in Singapore is straightforward and secure, thanks to user-friendly cryptocurrency exchanges such as Independent Reserve. We recommend this platform as it is regulated by the MAS. It enables Singaporean investors to create an account and deposit SGD to safely buy Tether and 40 other digital assets with low fees and tight spreads.
Start trading Tether by following these four steps:
- Sign Up: Establish an account on Independent Reserve and complete the identity verification process.
- Deposit Funds: Choose the Singapore Dollar (SGD) as your currency and select Tether (USDT) as the cryptocurrency you wish to purchase.
- Transfer Funds: Initiate a funds transfer from your bank account using bank transfer or another appropriate method.
- Purchase USDT: Click on 'Buy', and the tokens will be instantly credited to your account.
Is Tether (USDT) Legal in Singapore?
Cryptocurrency regulations in Singapore are overseen by the Monetary Authority of Singapore (MAS), and purchasing cryptocurrencies such as Tether is legal. However, the regulatory landscape may change, and all investors are advised to stay updated with the latest guidelines issued by MAS. It's also vital to remember that while purchasing USDT is legal, MAS has approved specific cryptocurrency exchanges, and it's suggested to use these endorsed platforms for transactions.
SGD to USDT Fees
The fees for buying Tether with SGD can vary depending on the crypto platform you select. On exchanges such as Independent Reserve, users benefit from $2.50 deposit fees when transferring money onto the platform and a modest 0.5% trading fee to acquire USDT, among other assets. This turns out to be more affordable compared to other alternatives like Coinhako and Gemini, which charge fees of up to 1% for purchasing cryptocurrencies.
Final Thoughts
To conclude, purchasing Tether in Singapore is not only legal but also made simple thanks to MAS-regulated cryptocurrency exchanges such as Independent Reserve. This platform offers low fees, tight spreads, and a secure environment for transactions in accordance with Singapore's anti-money laundering and counter-terrorism financing laws. It is considered one of the most secure brokers globally and registered with all relevant authorities in the country.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
