How to Buy Tether (USDT) in Singapore

Can I Buy USDT in Singapore?

Yes, you can buy USDT (Tether) in Singapore through cryptocurrency exchanges regulated by the Monetary Authority of Singapore (MAS). These platforms operate under the Payment Services Act, ensuring compliance with local laws and secure trading conditions.

Most exchanges in Singapore support SGD or USD deposits via FAST bank transfers, PayNow, debit cards, and other common payment methods. 

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How to Buy Tether (USDT) in Singapore

To buy USDT in Singapore, use a trusted MAS-regulated crypto exchange like Coinhako. Holding a Major Payment Institution (MPI) license, Coinhako is trusted by over 600,000 Singaporean investors. The platform supports SGD deposits via PayNow and FAST bank transfers and provides access to over 100 cryptocurrencies.

Here are the steps to buy USDT in Singapore:

1. Create and Verify Your Account: Register on Coinhako and complete identity verification as required under MAS regulations.
2. Deposit SGD: Link your bank account and fund your Coinhako wallet using PayNow or FAST.
3. Select USDT: Browse the list of cryptocurrencies and choose USDT.
4. Complete the Purchase: Enter the desired amount of USDT, confirm the transaction, and finalize your purchase.

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SGD to USDT Fees

Managing costs is key when converting SGD to USDT. Here’s a breakdown of fees on Coinhako for Singapore users:

• Deposits: SGD deposits via PayNow or FAST are free for amounts above SG$1,000. Transactions below SG$1,000 incur a flat SG$2.50 fee.
• Withdrawals: SGD withdrawals carry a flat fee of SG$1.50, regardless of the amount.
• Trading: Coinhako charges a trading fee of 0.6% for SGD/USDT transactions, making it one of the more cost-effective options for local investors.

Coinhako’s fees are highly competitive compared to popular retail platforms like Coinbase, which charge over 2% for similar transactions.

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Is Tether (USDT) Legal in Singapore?

Yes, Tether (USDT) is legal in Singapore when traded through cryptocurrency exchanges regulated by the Monetary Authority of Singapore (MAS). 

These exchanges must hold a Major Payment Institution (MPI) license under the Payment Services Act (PSA), ensuring compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) regulations.

Using an MAS-licensed exchange ensures that USDT transactions are secure, transparent, and fully compliant with Singapore’s financial laws, providing a trusted environment for cryptocurrency trading.

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Bottom Line

Buying Tether (USDT) in Singapore is simple and fully legal through MAS-regulated exchanges like Coinhako. 

These platforms offer secure, compliant trading with transparent fees, ensuring a reliable way to access USDT while adhering to Singapore’s financial regulations.