How to buy USDC with USD on Independent Reserve

Table of contents Create an account Deposit USD with Telegraphic Transfer/SWIFT Mobile app Desktop Buy USDC on Independent Reserve Mobile app Desktop Frequently asked questions

Customers in Singapore can securely buy USDC by making transfers to reputable exchanges such as Independent Reserve, one of Singapore’s longest-running and most trusted cryptocurrency exchanges.

This guide walks you through creating an Independent Reserve account, depositing funds, and purchasing Bitcoin.

Create an account

To buy USDC, you can create an account on Independent Reserve with SingPass in minutes.

We will need a few more documents for verification purposes. 

• Proof of address (accepted documents include bank statements, utility bills, or government-issued documents)
• Proof of identity (driver’s licence, passport, and a selfie)

This ensures compliance with MAS regulations and enhances security for all users.

Learn how to sign up with Independent Reserve here. 

Deposit USD with Telegraphic Transfer/SWIFT

Mobile app

1. Log in to your account.

2. Navigate to the ‘Wallet’ tab.

3. Select USD, then tap ‘Deposit.’

4. Tap on ‘TT’

5. You will see a pop-up with the following details:

1. 1. Bank name
   2. Account number
   3. Payee
   4. Reference/Message/Description

6. Make a transfer via TT or SWIFT using the above information, then return to the app and tap on ‘I made a transfer’.

7. Tap ‘Close’, then wait for the deposit to clear and be reflected in your USD wallet.

Desktop

1. Log in to your account.

2. Navigate to the ‘Accounts’ tab.

3. Look for USD, then click ‘Deposit.’

4. Tap on ‘TT’

 

5. You will see a pop-up with the following details:

1. 1. Bank name
   2. Account number
   3. Payee
   4. Reference/Message/Description
      

6. Make a transfer via TT or SWIFT using the above information, then return to the app and click on ‘I made a deposit.’

7. Click ‘Ok’, then wait for the deposit to clear and be reflected in your USD wallet.

Buy USDC on Independent Reserve

Mobile app

1.  Once your USD has been deposited, tap on the icon on the top left.

2. From the list, select ‘Default currency.’

3. Ensure that your default currency is USD, then tap on the arrow on the top left to go back.

4. Navigate to the ‘Trade’ screen.

5. Select ‘USDC’ from the list of available cryptocurrencies.

6. Enter the USD amount you want to purchase.

7. Click ‘Buy USDC’.

8. Review transaction details and confirm your order.

Desktop

1. Navigate to the ‘Trade’ screen.

2. Switch your currency to USD on the top right.

3. Select ‘USDC’ from the list of available cryptocurrencies.

4. Enter the USD amount you want to purchase.

5. Review transaction details and confirm your order.

Frequently asked questions

Are there any fees for buying crypto?

View the fee schedule for a list of all fees and charges.

Is there a deposit limit?

There may be a limit to the amount of money you can transfer using TT, depending on your personal transfer limits.

For higher deposit limits, our over-the-counter crypto trading desk is available for transactions above $50,000.

Can I withdraw USD to my bank account?

Yes, you can easily send USD to your linked bank account.

Can I create a business account with Independent Reserve?

Yes, Independent Reserve offers Bitcoin and crypto solutions. Book a call with our business team to find out more.