Onboard your SGD to USDT for crypto trading with Liquid.com

By doufu | bitcoinsg | 7 Feb 2022

As a crypto enthusiast in Singapore, one of the problem I've faced is that many cryptocurrency exchanges do not accept Singapore Dollars (SGD) readily.

In this article, I want to share a quick and relatively fuss-free method on how to convert your SGD into USDT for trading.

This method does not involve remittance. Instead, you need to have a StraitsX account and the crypto currency trading platform Liquid.com.

Liquid.com now support creation of account using Singpass, this should make it safer and more convenient to setup and KYC your account.

In this article, I will be demonstrating using the Liquid.com web page. The platform allows you to fund your trading account with SGD via StraitsX (formerly Xfer). This is similar to Gemini and Crypto.com.

Go to Wallets -> Deposit -> SGD

After login, go to Wallets (top right corner) -> Deposit -> SGD. You should see two methods for depositing your SGD. You'll have to link your StraitsX account.

Once that's done, you can now transfer SGD from your local bank account (I use DBS) to the designated account for StraitsX. This is usually instantaneous as it's local FAST transfer. Your SGD should appear in your Liquid.com SGD wallet.

With SGD in your Liquid.com account, you can use their Spot Trading to buy USDT with your SGD.

Go to Trade -> Spot Trading

In my experience, the spot trading rates for USDT/SGD is usually better than the exchange rate for remittance. And the trading fees is negligible if you trade less than USD$10 000 a month like me.

Spot trading your SGD for USDT

After you sold your SGD for USDT, you are free to transfer the USDT to any crypto exchange or wallet.

My main crypto trading exchange is FTX Pro. The nice thing about Liquid.com is that you can send USDT to FTX Pro via Solana Network for free. So this process works out nicely for me and I don't have to wait for overseas fund remittance time.

Sending USDT is free if you use Solana network

I hope this article is useful to you. Not everyone might find this method useful and that's fine. If you have any questions, please do comments below. Thank you!

SGD to USDT on FTX Pro with no fees