How to buy bitcoin? Can it be bought using IBKR or other brokers?

Hi Anon,

Unfortunately, you can’t buy Bitcoin or other cryptocurrencies from traditional brokers like IBKR. Traditional brokers give you access to stock markets, and Bitcoin is not traded on the stock market.

You’ll have to buy Bitcoin on a cryptocurrency exchange instead. There are plenty out there, so it can get overwhelming. I’ve found Binance Singapore and Coinhako which you can use for a start. Binance Singapore offers better rates but does not allow for direct bank transfers (you’ll have to go through an intermediary called xfers) and does not have a mobile app (Binance Global does). On the other hand, Coinhako has a better UI, has direct bank transfers, but worse rates.

Also, if you’re planning to buy and hold long term (called HODL in cryptocurrencies), especially if you have large amounts, I would highly recommend withdrawing your coins from the exchange for better security. For a start you can withdraw it to a hot wallet and once you research more you can withdraw it to a cold wallet.