Coinbase Pausing Trading in Singapore – No More Buy/Sell Bitcoin in SGD After 15 May 2018

Do take note. If you are Singapore residents or anyone but with a Coinbase Singapore account which does trade Bitcoin and other altcoins using SGD:
Coinbase is halting its operation in Singapore and you’re given time until 15th May 2018 to either buy/sell/withdraw your assets from the platform using SGD to your Xfers.io account.

What does that mean?

1. After 15th May 2018 and until further notice, using Coinbase Singapore account, you can no longer buy or sell Bitcoin and other altcoins inside Coinbase platform using SGD.
2. You can, however, still buy Bitcoin and other altcoins on Coinbase platform but it will be processed in USD.
3. You can only buy using Debit Card. You will no longer be able to buy using Credit Card nor using amount on your Xfers.io account.
4. You will no longer be able to sell your Bitcoin and other altcoins through Coinbase after 15th May 2018 unless you have any other means to store your fiat currency (not your Xfers.io account).

 

If you are an existing Coinbase and Xfers.io customer, do check your email for details or head here to their official announcement.

 

Coinbase halting operation in Singapore Xfers.io jilaxzone.com
Official Announcement on Xfers.io page – Coinbase halting its operation in Singapore

 

Start trading Cryptocurrencies

If you haven’t started your Bitcoin and Cryptocurrencies journey, read here on how to easily open the account to start trading Bitcoins and other altcoins.

Common Q&A – Coinbase Halting Trading in Singapore

If I don’t withdraw my assets and have passed 15th May 2018, what will happen to my assets?

They are going to be just fine. It’s just they are stuck on Coinbase platform, unless you have any other means to convert back Bitcoin and other altcoins purchases to fiat currencies but not using Xfers.io account nor service.

You can go through the transfer route, transferring your assets from Coinbase to any trading platforms that open and operated in Singapore, such as CoinHako and then withdraw from there.

When Coinbase will resume trading in Singapore using SGD?

Until further notice and until Coinbase comply to MAS standard, the service will remain in halting condition.

 

If you do have queries or thoughts, do post on comment section down below.

 


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