How can I buy Bitcoins with Coinbase in SG?

I've been trying to buy a chunk of Bitcoins via Coinbase recently. I have used my DBS Debit card to do the transaction, however, the payment declined even I attempted several times. Then I called DBS and ask what would be the reason for declining the payment, they said - "For this kind of transaction DBS won't allow." Is there any other method I can do this? Anyone who purchased BTC in SG advice. Thanks

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Shawn Lee

26 Dec 2020

Bachelor of Accountancy at Singapore Management University

There's a lot of platforms for you to onboard crypto. Coinbase is one, but if your DBS card is declined, don't bother with Coinbase anymore. (Banks don't link well with crypto, so they'll try to block off any crypto-related transactions.)

Here are a few other alternatives:

Binance SG - This is the one I personally use. Spreads are decent, just need to create an Xfers account (xfers.io), transfer your SGD into Xfers, and you can buy BTC with your Xfers wallet.

Coinhako - Been a while since I used them. Same thing, they're using Xfers, so transfer SGD from your bank to xfers, and you can buy from Coinhako.

crypto.Com - You can buy on crypto.com with a debit/credit card (However, if I'm not mistaken, there's some issues with DBS cardholders for the time being). Fees might be incurred too, so go and research.

These are 3 of my recommendations, do look into them and see which offers the best deal in terms of fees! All the best :)

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Gordon Lim

26 Dec 2020

Can use crypto.com. Top up with xfers. Buy their native token CRO and sell to BTC. When selling BTC, have to sell to CRO then sell to xfers. To my knowledge only crypto.com has xfers which allows you to sell crypto back to SGD. With other exchanges you may be able to buy BTC using debit card but then realise you can’t sell and transfer back to bank.

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