Coinbase
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Overview
- QUARTERLY VOLUME TRADED: $145B
- Trade 200+ assets securely: From Bitcoin to Ethereum to your favorite tokens.
- Powerful trading tools : Charts powered by TradingView with EMA, MA, MACD, RSI, and Bollinger Bands.
Coinbase Singapore: Step-by-Step Guide to Buying Crypto
The cryptocurrency landscape has witnessed significant growth in recent years, with Singapore emerging as a key player in the digital asset industry. Coinbase Singapore has become a prominent platform for individuals looking to enter the world of cryptocurrencies. This exchange offers a user-friendly interface and a range of digital assets, making it an attractive option for both beginners and experienced traders in the region.
This guide aims to provide a comprehensive overview of Coinbase Singapore and its features. It will walk readers through the process of setting up an account, completing the necessary verification steps, and navigating the trading platform. Additionally, it will explore the various cryptocurrencies available for purchase and the different payment methods accepted. By the end, readers will have a clear understanding of how to buy crypto on Coinbase Singapore and start their journey into digital assets.
Coinbase Singapore: An Overview
Coinbase Singapore has established itself as a significant player in the cryptocurrency market, offering a range of services tailored to the local audience. The platform has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) to provide cross-border money transfer and digital payment token services . This license allows Coinbase to operate legally and securely in Singapore, providing users with a trusted platform for their cryptocurrency needs.
Coinbase Singapore supports over 200 digital assets for trading , giving users access to a wide variety of cryptocurrencies. The platform offers several features designed to enhance the user experience, including free FAST bank transfers for deposits and withdrawals, and a simple onboarding process using Singpass . Additionally, Coinbase Singapore provides instant sell and withdraw options, allowing users to quickly convert their digital assets to fiat currency when needed .
One of the platform’s standout features is the ability to earn up to 5.05% APY on USDC holdings, with no lockups or maximum limits . This offering allows users to put their crypto to work and potentially earn passive income. Coinbase Singapore also supports USD transfers via the SWIFT network, enabling 1:1 conversion between USD and USDC without fees .
Account Setup and Verification
To begin trading on Coinbase Singapore, users must complete a comprehensive account setup and verification process. This process involves several steps to ensure compliance with regulatory requirements and enhance security.
To create an account, individuals must be at least 18 years old and possess a government-issued photo ID . The process starts by visiting the Coinbase website or downloading the mobile app. Users need to provide their legal name, email address, and create a secure password .
After account creation, users must verify their email and phone number. This step is crucial for enabling two-factor authentication, which adds an extra layer of security . The next stage involves providing personal information, including date of birth, address, and occupation .
Identity verification is a critical step in the process. Coinbase Singapore offers a unique feature allowing users to verify their identity using Singpass, streamlining the procedure . The verification process typically takes between 10 minutes to 48 hours to complete .
Navigating Coinbase’s Trading Platform
Coinbase’s trading platform offers a range of features for both novice and experienced traders. The platform supports over 552 markets, including 237 new USDC trading pairs . Users can execute fast trades using real-time order books and manage risk with various order types.
Market orders allow for immediate execution at the best available price, ideal for quick trades in fast-moving markets . Limit orders enable users to set a specific price for buying or selling, providing more control over trade execution . Stop-limit orders automatically place a limit order when an asset reaches a specified price, helping to protect profits and limit losses .
To place an order, users can select the desired asset, choose the order type, and enter the amount and price (for limit orders) . The platform displays essential information such as the order pair, type, price, and amount . Users can easily view and manage their open orders, with the option to cancel unfilled or partially filled orders .
Conclusion
Coinbase Singapore has emerged as a key player in the cryptocurrency scene, offering a user-friendly platform with a wide range of digital assets. Its Major Payment Institution license from the Monetary Authority of Singapore gives users peace of mind, while features like free FAST bank transfers and Singpass integration make it easy to use. The platform’s support for over 200 cryptocurrencies, along with the chance to earn on USDC holdings, makes it an attractive option for both new and experienced traders.
To get started, users need to set up an account and go through the verification process, which includes providing personal information and verifying their identity. Once verified, they can dive into the trading platform, which offers various order types to suit different trading strategies. With its comprehensive features and strong regulatory compliance, Coinbase Singapore is well-positioned to help users to explore the world of digital assets and potentially benefit from the growing cryptocurrency market.
