How to Buy Crypto with DBS Bank?
Your guide: How to Buy Crypto with DBS Bank?
As the world of finance changes all the time, the rise of cryptocurrencies has caught the attention of both buyers and crypto fans. As one of Asia’s biggest banks, DBS Bank has jumped on board with the digital revolution and now gives its users a safe and easy way to get into the crypto market.
So, if you’ve ever wondered, “How to Buy Crypto with DBS Bank?” you’ve come to the right place. Keep reading to find out more.
Also read: North American Countries Start Applying For BRICS Membership
Understanding the Crypto Landscape with DBS Bank
DBS Bank, which is based in Singapore, has become a leader in the cryptocurrency world. As one of the biggest banks in Asia, DBS has seen that the need for digital assets is rising and has taken steps to meet those needs. Because the bank is so forward-thinking, it created the DBS Digital Exchange (DDEx), a platform where only institutional investors and skilled market makers can trade Bitcoin and Ethereum.
Getting Around the World of Regulations
The Monetary Authority of Singapore (MAS) is very important to the cryptocurrency business in Singapore. To make sure they follow the country’s financial rules, DBS Bank only lets its customers buy digital assets through cryptocurrency exchanges that are approved by the Monetary Authority of Singapore (MAS). A Major Payment Institution (MPI) license is needed for these exchanges. This makes sure that all transactions are safe and follow Singapore’s Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) rules.
How to Pick the Best Cryptocurrency Exchange?
It’s important to choose a trustworthy and MAS-regulated market when you want to buy cryptocurrency with your DBS Bank account. Coinhako is one of the most trusted sites in Singapore. It has more than 600,000 investors who use it. Coinhako has many benefits that DBS Bank customers will find useful, such as fast SGD deposits through PayNow and FAST bank transfers, low fees, and access to a wide range of cryptocurrencies.
How to Buy Cryptocurrency with DBS Bank, Step by Step?
- Set up an account and verify it: To start, sign up for the Coinhako website and verify your account. This makes sure that your information and name are properly verified.
- Link Your DBS Bank Account: To make it easier to pay for your crypto purchases with Singapore Dollars (SGD), link your DBS Bank account to the Coinhako app.
- Choose a Cryptocurrency: Coinhako gives you access to more than 100 cryptocurrencies, such as Bitcoin, Ethereum, Solana, Avalanche, USDC, and many more. This lets you diversify your wealth and learn more about different digital assets.
- Trade Your Goods: When you enter the amount of SGD you want to invest, Coinhako will change your fiat currency into the cryptocurrency you choose.
Also read: BRICS Could Expand to 20 Nations at 2024 Summit
How to Understand Costs and Fees?
It’s important to think about the fees and costs when using your DBS Bank account to buy crypto. Some of these are trade fees, the buy-sell spread, and deposit and withdrawal fees. Since Coinhako is a MAS-licensed exchange, it is a cheap option for DBS Bank users.
- Fees for Deposits: Deposits over SGD 1,000 made through PayNow or FAST bank transfers are free. Deposits under SGD 1,000 cost SGD 2.50.
- Fees to Withdraw: There is a flat fee of SGD 1.50 to withdraw money from Coinhako.
- Trade Fees: Coinhako’s trade fees start at a reasonable 0.6%, so you can be sure that your crypto purchases are made at good prices.
Why Buying Cryptocurrency with DBS Bank is a Good Idea
Some of the best things about using your DBS Bank account to buy cryptocurrencies are:
- Compliance with Financial Rules: Because DBS Bank works with MAS-licensed platforms like Coinhako, your crypto transactions will always follow Singapore’s financial rules. This will make sure that your experience is safe and reliable.
- Seamless Integration: Linking your DBS Bank account to the coin exchange makes it easy and quick to send SGD, which speeds up the buying process.
- Diversified Investment Options: Since you can access more than 100 cryptocurrencies, you can look into a lot of different digital assets to make your investment strategy more diverse.
- Reasonable Prices: MAS-regulated exchanges like Coinhako offer reasonable fees and spreads, which make sure you get the most for your crypto purchases.
How Crypto Will Grow with DBS Bank?
DBS Bank cares about the Bitcoin business in more than one way. They let people buy and sell things. Also, the bank has launched the DBS Digital Exchange (DDEx), a place where professional market makers and institutional buyers can meet. This makes the bank even better for people who use cryptocurrencies.
As the world’s financial scene changes, DBS Bank is a star in its field because of how it uses digital assets. You can join the crypto market in a safe and new way with this service.
Conclusion
A lot of people find it hard to understand the world of cryptocurrencies. But with DBS Bank and MAS-licensed platforms like Coinhako, it’s never been easier to get digital assets. You can use your DBS Bank account to buy a lot of different cryptocurrencies at fair prices, and you can be sure that everything you do is legal in Singapore.
This complete guide has given you the information and tools to confidently start your journey with digital assets, no matter how much experience you have as an investor or how new you are to the world of crypto. Use the crypto market to its full potential and look into the many possibilities it has to offer while banking with DBS Bank, one of Asia’s most trusted banks.
Elon Musk-backed pro-Trump PAC fumbles outreach, faces allegations
The America PAC, heavily funded by Elon Musk to back Donald Trump’s re-election campaign, is struggling to meet voter outreach goals.
The PAC is tasked with securing critical votes in swing states, and now faces allegations that canvassers have been lying about voter contacts, according to insiders.
Key battleground states like Wisconsin and Nevada, where every vote matters, are seeing serious issues. Four people connected to the PAC’s outreach told Reuters that canvassers are falling short of expectations.
Despite a large budget, paid for by Musk, the effort to secure Trump’s re-election is floundering.
Door-knocking targets missed
In Wisconsin, canvassers were expected to contact 450,000 voters by Election Day. Alysia McMillan, a canvasser for the PAC, revealed that organizers told the team they weren’t reaching daily targets.
In an October 8 meeting, McMillan recorded a manager admitting that they were far from hitting the 450,000 mark. “We’re not going to hit 450,000, not with what we’ve got now,” the manager said.
McMillan, who worked with two contractors hired by America PAC to knock on doors, spoke out about the issue. She is concerned that this shortfall could cost Trump the election, especially in a place as important as Wisconsin.
“If this isn’t looked into in a timely manner, this can result in a waste of time and money and risk President Trump winning the election,” she said. Despite being fired by one contractor after a pay dispute, she was rehired by another almost immediately.
In Arizona, canvassing managers have issued warnings to their teams about missing voter-contact targets. Chris Young, a Musk aide, recently traveled to Nevada to audit the door-knocking numbers there.
Sources close to the outreach efforts claimed that Young’s visit was triggered by reports that some canvassers had inflated their numbers. Another insider said that the PAC was having a hard time finding people to audit door-knocking efforts in other battleground states.
Canvassers get fired
America PAC’s efforts hinge on reaching “low propensity voters” – people who might support Trump but could stay home instead of voting.
Musk has poured at least $75 million into the PAC, making him one of Trump’s biggest backers. But the on-the-ground operations are disorganized.
The PAC relies on contractors to carry out the grunt work. These contractors hire hourly workers to knock on doors and speak to voters.
But some workers say the job isn’t worth the pay. One said, “The pay starts at $20 per hour, but you have to drive long distances, and they don’t even cover your gas.”
In Nevada, things took an ugly turn when auditors discovered that some canvassers had lied about the number of doors they knocked on.
Lone Mountain Strategies, a contractor working for the PAC in Nevada, had to fire several workers after discovering they had been using apps to fake their locations.
A text message reportedly revealed that the company was catching people cheating on their door-knocking tallies.
“Our auditors keep catching people cheating,” the message read. “We’ve fired two people today and auditors are going around checking doors for flyers.”
America PAC’s financial troubles
Even with Musk’s billions behind it, America PAC’s outreach has been plagued by disarray. The group has had to post advertisements for more canvassers on its website, offering pay starting at $30 an hour, with bonuses for good performance.
But the increase in pay may be too little, too late. Sources within the PAC say that workers complained about the long hours and lack of gas money, saying that the pay wasn’t worth the effort.
Meanwhile, amid a tight race between him and Democratic Kamala Harris, Trump is facing increasing scrutiny over his health.
Apparently, despite incessant questions from the press, he has refused to release his medical records. During a stop in Detroit, Trump was asked if he planned to share his health information.
Yeah, my health records – I’ve done five exams over the last four years. You’ve got them all,” he told reporters. The former president went on to say that he had “aced” two cognitive tests.
Trump then took aim at Harris, saying, “I want to see her do a cognitive test because she wasn’t born smart.”
Read More
US DOJ Disbands Crypto Enforcement Unit
