Bitcoin is digital money. Physically, this currency does not exist, there are only special registers that keep records of how many bitcoins someone has and who transfers them where. These journals are called blockchains. This is similar to how non-cash payments are arranged in banks: when you pay with a card in a store, you also do not transfer any physical money or gold to anyone. It's just that your operation is registered somewhere in the bank register. Bitcoins differ from ordinary currencies in that registers are not stored centrally in banks and payment systems, but simultaneously on all computers that are occupied with bitcoins. Anyone can watch all transactions with all bitcoins in history. In our guide, we will tell you how to buy bitcoin in Singapore.
In order to buy bitcoin, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of BTC based on the amount you plan to use for payment. The smallest purchase amount in dollar terms is 30 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €30. Well, in our instructions, as promised, we will go through all the stages of purchase BTC for dollars step by step.
After converting the currency to BTC, you will see the final result in the "You Get" field and on the "Buy" button. Click the button and enter your email address in the following window.
Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.
Specify the purchase amount in the Itez dialog box. Copy the recipient address - your bitcoin wallet - from the “Accept” section.
Important: you should not manually copy the bitcoin wallet address. The blockchain system does not give any information about bitcoin addresses problems, and if an error occurs during manual entry, all the buyer's funds may be lost.
For example, this is how the copy address button looks like in the Exodus wallet:
After copying the bitcoin wallet address, paste it into the dialog box.
Check your data — it is important to make sure that the address is entered correctly.
After pushing the “Card details” button, enter the required card information: card number and expiration date, the cardholder name and CVC-code — three numbers on the back of the card.
Push the “Pay” button and enter the one-time bank code in the following window. As soon as the transaction receives 6 confirmations in the blockchain network, your bitcoin wallet balance will be top-up.
Important: the transaction will wait for confirmations for time. After six network confirmations, bitcoin will be on your e-wallet; when buying with Itez it will take for about 15 minutes. This is a very good speed for the Bitcoin network since transactions in the most popular blockchain network are somewhat slower than in other networks due to its properties and high load.
In Singapore you have an opportunity to purchase BTC with any Singapore bank card. DBS Bank followed by UOB Singapore, Citibank Singapore and Maybank Singapore.
People in Singapore can use real debit and credit cards of Mastercard and VISA payment systems. They also have an opportunity to purchase virtual cards issued by special services.
Bitcoin has decentralization. It is its very important feature. With a private key and a seed phrase in hands your funds will be in full safety because other clients cannot use your bitcoin. To see full list of wallets, follow bitcoin.org