How to Buy Tether (USDT) in Singapore

Summary: In Singapore, purchasing USDT is secure and compliant with legal standards, facilitated by MAS-regulated exchanges like Coinhako. These platforms ensure safety through strict adherence to regulatory standards, including AML and KYC policies, and offer competitive transaction fees. 

With Coinhako, investors have access to over 100 cryptocurrencies (including USDT), supported by user-friendly account setup, fast SGD deposits through FAST and PayNow, and some of the market's lowest fees.

Can I Buy USDT in Singapore?

Investors in Singapore can legally buy USDT (Tether) through cryptocurrency exchanges regulated by the Monetary Authority of Singapore (MAS) under the Payment Services Act. This ensures your trading platform adheres to strict custody security and regulatory standards, providing a safer trading environment. These platforms enable fast SGD deposits via FAST bank transfers, PayNow, debit cards and other popular payment methods.

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How to Buy Tether (USDT) in Singapore

If you're in Singapore and keen on getting into USDT (Tether), Coinhako is a recommended platform. It holds a license from MAS and is based in Singapore, making it a safe choice for retail and institutional investors. With this platform, clients can safely access over 100 cryptocurrencies, including USDT, enjoying fast and free deposits via PayNOW and Fast bank transfers, not to mention industry-leading transaction fees.

Here's a quick guide to buying USDT on Coinhako in Singapore:

1. Account Setup and Verification: Jump onto Coinhako, sign up for an account, and complete the verification steps.
2. SGD Deposit: Link your bank account for SGD transfers into your Coinhako account. Coinhako supports seamless transactions with local banks.
3. Choosing USDT: Search through Coinhako's selection and pick USDT from their extensive list of available cryptocurrencies.
4. Making Your Purchase: Decide how much USDT you want to buy, check the transaction details, and confirm your purchase.

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What are the Fees?

When purchasing Tether (USDT) or other crypto assets, you must be aware of the fees you will incur. These can fluctuate based on the exchange you choose and include deposit and withdrawal charges, the spread (the difference between buy and sell prices), and transaction fees.

Coinhako stands out in Singapore for its competitive fee structure, particularly for those looking to trade USDT. It boasts some of the lowest spreads in the market for crypto assets, with trading fees beginning at just 0.6%, marking it as a cost-efficient choice. For smaller transactions under $1,000, Coinhako applies a modest deposit fee of SG$2.50, and withdrawals come with a minimal flat fee of $1.50.

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Is Tether (USDT) Legal in Singapore?

In Singapore, Tether (USDT) trading and ownership are fully compliant with legal standards, thanks to the Monetary Authority of Singapore (MAS) and the Payment Services Act. This regulation covers digital asset exchanges, ensuring they meet stringent security and transparency standards for transactions, including USDT.

MAS requires exchanges to rigorously follow Anti-Money Laundering (AML) and Know Your Customer (KYC) policies, among other consumer protection measures. This underscores Singapore's commitment to a secure, transparent digital currency market, positioning it as a reliable space for trading USDT and other cryptocurrencies under MAS's close watch.

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Bottom Line

In summary, buying USDT in Singapore is not only legal but also secure, thanks to MAS-regulated platforms like Coinhako. These exchanges offer robust security measures, adherence to AML and KYC policies, and competitive fees, ensuring a trustworthy environment for your crypto transactions. With easy account setup, quick SGD deposits, and low fees, Coinhako is the premier choice for accessing USDT and a broad array of cryptocurrencies.