How to Buy Ethereum in Singapore

Ethereum is an altcoin that has been part of the crypto world for the past five years. Even though this digital currency isn’t as popular as Bitcoin, it shows stability and reliability by continuing to rank in the top five of all cryptocurrencies. But how do you buy Ethereum in Singapore? We’re here to answer that question. Our walkthrough guide will tell you about our favorite exchanges and how you can go about buying Ethereum.

Most users visit a cryptocurrency exchange to buy Ethereum. An exchange is a way to buy, sell, or trade digital coins like Ethereum. However, most exchanges ask that you register in order to use their platform. Some ask for additional documentation to verify your identity. Overall though, an exchange is an excellent method through which you can buy Ethereum.

We really like Plus500 and Coinmama when it comes to selling or buying Ethereum in Singapore. With both platforms, you’ll gain exposure to the world of cryptocurrency. Plus500 and Coinmama provide users a way to learn more about crypto while establishing a simple and enjoyable experience.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the Plus500 website.

Buying Ethereum in Singapore

Contract for Difference

Contract for Difference isn’t as well-known as some of the more popular exchanges, but it’s a great way to discover more about Ethereum and its price without holding the actual cryptocurrency.

When you open your CFD, you can enter the exact amount of Ethereum that you want to “buy.” Then, when your Ethereum gets to the point you want, you can close the contract. The difference between the starting point and closing point are paid out to you. That’s why it’s called a Contract for Difference.

We really like the Plus500 platform when it comes to selling or buying Ethereum in Singapore. This platform gives you excellent exposure to Ethereum but doesn’t require that you hold ETH. This means you don’t have to worry about having an offsite wallet in which to store your Ethereum.

Standard Crypto Exchange

There are those that would much rather hold the Ethereum in a wallet. It gives them a sense that they have something to show for their purchase. If you’re that type of person, then a standard crypto exchange is probably the option you’d prefer. This is how most buyers, sellers, and traders perform tasks when it comes to cryptocurrency.

Our favorite standard exchange is Coinmama. With Coinmama, you can buy Ethereum in Singapore quickly and easily. The site is simple and buying your Ethereum is quick and painless. You can’t go wrong buying Ethereum in Singapore with Coinmama.


Buying Ethereum in Singapore with Plus500

How to buy Ethereum in Singapore on Plus500

The CFD site we prefer is Plus500. If you like using contracts for difference, Plus500 is an excellent way to buy Ethereum in Singapore. It gives users a great platform to learn more about cryptocurrency and the highs and lows that the market often experiences. You don’t actually buy any Ethereum when you use Plus500, which is what some users prefer since it means they don’t have to mess with creating a wallet for offsite storage.

When you’re ready to start buying Ethereum in Singapore, head on over to Plus500 (80.6% of retail CFD accounts lose money). You can get started by click on the “Start Trading Now” button in the middle of the page.

How to create Plus500 account in Singapore

Now you’ll need to choose your account mode. Plus500 gives you the option to choose between Demo Mode and Real Money. If you want to get familiar with the site before depositing your own money, choose Demo Mode. We’re going to choose Real Money to continue with creating an account.

Additionally, at the bottom of this page are links to download the Plus500 mobile app. It is available on both Android and iPhone, so you can install the app on your smartphone or tablet and take it with you when you’re on the go.

How to create real money account on Plus500

Next, we’ll go ahead and create an account. Type in a valid email address, choose your password, then select the blue “Create Account” button. There is also the option to use your Google or Facebook account as your login if you prefer that method.

Create Plus500 account

Now that you’ve registered with the site, Plus500 wants some additional information. This is personal data that most exchange request from their users. Asking for this is pretty typical as Plus500 wants to know exactly who is using their site.

Once Plus500 has the documents it needs, it will review your information. When the platform confirms the data you’ve provided, you’ll receive a notification letting you know your account is active. Next, you need to fund your account so you can buy Ethereum in Singapore.

How to verify on Plus500

Depositing Funds and Buying Ethereum

You’ll get a notification once Plus500 approves your information and sets up your account. Now it’s time to start depositing funds so you can buy Ethereum. There are plenty of options available with Plus500, including wire transfer, debit or credit cards, Paypal, and Skrill.

How to deposit on Plus500

Once you see your funds show up in your account, you’re ready to start buying Ethereum in Singapore. In the menu on the left, you’ll see a button labeled “Trade.” Select that to see all the trading choices with Plus500. Find “Cryptocurrencies” and click on it to see all the digital coins supported by the Plus500 platform.

Locate Ethereum in the list, then find the button labeled “buy.” A window will emerge from the right, which allows you to input your buying preferences. If you’ve previously used CFDs, then you can click on the advanced area here for more options. When you’re happy with your entries, select the “buy” button to create your order.

How to buy Ethereum in Singapore with Plus500

You’ll receive a notification from Plus500 when your order is filled. On the main trading page, you can view all your pertinent information. You can view your current funds, margin, and profit and loss. When you’re ready to end your contract, just click the “Close” button. Your account is credited the difference. Now you know how to buy Ethereum with the Plus500 exchange.

How to sell Ethereum in Singapore with Plus500


Buy Ethereum in Singapore with Coinmama

While Plus500 offers a mobile option for its Android and Apple users, unfortunately, Coinmama does not. Currently, the only way to buy Ethereum in Singapore on the Coinmama platform is through its website.

Make your way to Coinmama’s home page. In the top right corner is a button labeled “Sign Up.” Click on that to get started with the site’s registration process.

How to signup to Coinmama

You’re greeted by a short form on the next page. Fill in your first and last name, a valid email address, a password, and your country of residence. Once you’ve filled everything in, select “Create Account.” Soon after, you’ll receive a verification email from Coinmama asking you to confirm your email address.

How to create Coinmama account

Next, Coinmama will ask for personal info. The site uses this to provide additional security by validating all users on the platform. This is normal practice performed by many exchanges, so there’s no need to worry about providing some additional personal info to Coinmama.

Coinmama account registration

You’ll also need to send over some documentation to the platform. This is similar to what you need to do with Plus500, but it’s nothing out of the ordinary. You can submit your driver’s license, passport, or some other form of government identification. This helps Coinmama confirm that you are who you say you are.

The site will approve your documentation in a few hours. When it comes, you’ll get a notification that you’re all set. Now you’re ready to buy Ethereum in Singapore.

Buying Ethereum

One item of note before you buy Ethereum through Coinmama is that the exchange does not hold your credit card or debit card information on site. Some users like this since it means nothing happens to their payment information in the event Coinmama is compromised. However, it also means you must enter your payment information each time you want to buy some Ethereum through Coinmama.

To buy your Ethereum, click on the link that says “Buy” in the upper right of the banner bar. Now you should be able to see all the available cryptocurrencies on the Coinmama exchange. You’re going to buy Ethereum, so select ETH. To the right, you can choose between viewing Coinmama’s rates of Ethereum in EUR or USD.

Enter in the amount you want, then select “Buy ETH.” It’s at this time that Coinmama will ask for an Ethereum wallet address. Coinmama does not store your cryptocurrency locally, so you’ll need to create a wallet in which to store your own.

Type in your address, provide your payment information, then purchase your very own Ethereum.

How to buy Ethereum in Singapore with Coinmama

At this point, Coinmama will confirm your payment information. Once it does, you’ll receive your Ethereum in your wallet to do with as you please.


Further Info About Ethereum

One of the most highly recognized altcoins in the world is Ethereum. But there are also a lot of new crypto users who have yet to gain much exposure to this cryptocurrency. Hopefully, we can provide some insight into Ethereum, its background, and its purpose

What is Ethereum?

There are many within the world of crypto that aren’t aware that the Ethereum platform is open-source. This is a plus for the network since it gives developers the opportunity to make programs that reside on the Ethereum blockchain. These applications are called dApps, or decentralized applications.

The benefit of dApps is that one single person controls them, which is not how we currently interact with applications and websites. Today, we deal with applications that run off a client-server methodology. Ethereum wants to eliminate this type of relationship so that no single person or entity has entire control over an application or network.

What is a Smart Contract?

If you spend much time talking about Ethereum, sooner or later you’ll hear about smart contracts. A smart contract is an agreement that sits on the Ethereum network but is only completed when all criteria set forth in the contract are satisfied.

So, for example, if you are buying a house, you and the seller will set forth the details in the smart contract. Once the parameters in the contract are met, the funds for the home are then moved from the buyer’s account and into the seller’s. As a result, the contract is fulfilled and closed.

What’s exciting is that these smart contracts are finding uses throughout many different markets. We’ve shown you an example of how it can disrupt real estate, but there are also ways Ethereum is impacting logistics, banking, health care, and supply chain industries.

Since smart contracts reside on the Ethereum network, one person or entity does not have the power to change or reverse the details. When the contract goes live, a network majority is required to make changes. Because of the way the blockchain works, doing so is almost impossible.

Based on Ethereum’s programming, any type of contract can be created and completed on its network. These contracts can be used in areas like decentralized voting, supply chain, real estate, and many other markets. There are plenty of opportunities available when it comes to using Ethereum’s smart contracts.

Who Developed Ethereum?

While the Ethereum dApps are proud that they cannot be controlled by a single person or entity, there had to be a network creator. That person is Vitalik Buterin, who developed Ethereum at the age of 19. Buterin has long been deeply involved in the crypto world and continues to promote his creation. Due in large part to his efforts to develop Ethereum, this well-recognized altcoin ranks consistently at the top of the crypto market.

Ethereum Advantages & Disadvantages

Pros
  • Ethereum network is almost impossible to hack or tamper with
  • Decentralized applications provide an alternative to our current client-server relationship
  • Blockchain does not have a single point of failure
  • One single entity or person cannot control or make changes to the network
  • An agreement of the majority of the nodes much be reached before changes can be made
Cons
  • Changes to the network are difficult to accomplish when needed since a majority consensus is required
  • Potential problems with programming could be found and exploited by hackers

Is Ethereum a Good Investment?

We don’t know how Ethereum will perform in the future, however, we can provide you with a few things to think about as you decide whether to invest in it:

  • Since it became a cryptocurrency, Ethereum has shown consistent growth
  • Ethereum consistently ranks in the top five of coin market capitalization
  • High ranking crypto makes it a safer investment than other, smaller, altcoins
  • Most exchanges make Ethereum a trading pair with other altcoins
  • Available on most exchanges
  • Boasts partnerships with Microsoft, BP, an JP Morgan
  • Disrupting other industries with its smart contract potential
  • Possible funding alternatives to Ethereum are emerging in the form of currencies such as Binance

Don’t forget that Ethereum is a digital coin. As a result, you can expect risks which are inherent to investing in this class of assets. The crypto industry is prone to sudden ups and downs, which can occur quickly and without warning. For those that want to learn more about Ethereum before investing, we suggest checking out TradingView or CoinMarketCap.

 

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH & IOTA
  • 💰 Deposit Methods: Credit/DebitCard, PayPal, Skrill, Bank Transfer
  • ✅ Regulated
  • ✅ Plus500 is a CFD Broker Which Means No Need To Setup Crypto Wallets
  • 🎧 Support: 24/7 Live Chat & Email
  • ✅ Mobile App For iOS & Android

  • 📈 Trade: BTC, ETH, XRP, LTC, BCH, ADA, QTUM, ETC
  • 💰 Deposit Methods: Credit/ Debit Card, Bank Transfer, Cash
  • ✅ Regulated
  • ❌ No Need To Setup Crypto Wallet
  • 🎧 Support: Email Form & Facebook
  • ❌ Mobile App For iOS & Android

 

80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. 

You can also buy other popular cryptocurrencies in Singapore such as Bitcoin.

Further Reading At TotalCrypto.io
1) Only Have Time For 30 Minute Crypto Sessions? Learn About The Scalping Strategy & How You Might Leverage It To Your Benefit.

2) Understanding Technical Analysis Can Help You Make More Winning Trades. Learn More About Crypto Technical Analysis.

3) Need A Little Help On Plus500? Our Plus500 Walkthrough Tells You Everything You Need To Know.

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DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

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