Buying Ethereum

Few weeks back a friend from banking industry pinged me on how to buy Ether. I was like I have heard about this one, but am not too sure how one can buy it in Singapore.

I have few basic investments using bitcoin, and ETH (ethereum) as it is called was a new thing, i have been off bitcoin market developments since 2012. So in January I realized that Wilkinwoss twins have applied for BTC ETF in fed, and lot of folks were betting on it.

ETH price chart since start

I admit I got excited for the chances of ETF getting approved, although pundits were quoting 50–50 chance. Nonetheless the ETF wasnt approved, but unexpectedly there wasnt much change for BTC. It did not crashed as expected.

That being the background story, now I come to the matter at hand, viz “Buying ETH in singapore”

I tried following 3 bitcoin exchanges

  1. Fybsg (find your bitcoin-singapore)

FYBSG doesnt have a ETH exchange , but one way is to buy BTC there and then later send it to bitcoin wallet, and buy ETH from exchange hosting ETH

2. COINDESK

Although coindesk is a big name in Bitcoin exchanges, one major issue with them being that you have to buy BTC using your credit card. Consequently one ends up paying credit card fees + coindesk commission, equalling to 4.5% +

So even though I setup account with them and gave them my credit card, i ended up cancelling my credit card with them.

3. QUOINE

I was surprised by the UI of quoine, although it seems complex at first to handle and understand their exchnage. But once you get hang of it, its amazing. To buy ETH,

i) Transfer SGD (fiat currency) to Quoine bank acc

ii) SGD BTC : buy BTC

iii) ETHBTC : buy ETH using BTC

Best part of Quoine being they have 0% commission fees for now.

So which brings me to end of topic. Thus I write here with some BTC and ETH in my bitcoin wallet.