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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.
Follow the instructions using these guides:
After creating your account, please note that you must complete the Risk Awareness Quiz before making any deposits.
Deposit USD with Telegraphic Transfer/SWIFT
Mobile app
1. Ensure your default currency is USD. You can change this under ‘Default currency‘.
2. Select ‘Wallet’, then select USD.
3. Tap on ‘Deposit.’
4. Tap on ‘TT’
5. You will see a pop-up with the following details:
-
- Bank name
- Account number
- Payee
- Reference/Message/Description
6. Make a transfer via TT or SWIFT using the above information, then return to the app and tap on ‘I’ve paid’.
7. 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:
-
- Bank name
- Account number
- Payee
- 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. Ensure that your default currency is USD, then navigate to ‘Markets’.
2. Select ‘USDC’ from the list of available cryptocurrencies.
3. Enter the SGD amount you want to purchase with either:
- Market order: executes instantly at the best available price
- Limit order: executes only when your target price is reached
4. Click ‘Preview order’.
5. Review transaction details, then tap on ‘Place order’.
6. Once your order is filled, you should see a ‘Successfully bought’ pop-up window.
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.
