Buying Bitcoin with SGD on Independent Reserve

This post will guide you on using Xfers to send SGD to Independent Reserve

Do note that Xfers limts transactions to 20,000 SGD a day and 30,000 SGD a year Link

1. Preparation

  • Your mobile phone
  • ID documents if you do not already have an Xfers or Independent Reserve account

2. Creating your Xfers account

Head over to and sign up for an Xfers account if you do not already have one. Else login to your Xfers account.

You may skip this step if you already have an Xfers account.

Important: The phone number used for Xfers will be used to link all Xfers services for deposits.

Note: You would have to go through identity verification before you will be able to use the platform.
Do follow the steps and provide the required documents

Mouse over your name on the top right and click manage account, or simply use this link

Click Add New and enter your bank account details. Your bank account will be verified once a deposit is made with it.

3. Depositing funds into Independent Reserve

Head to Independent Reserve and login.

You can create an account Here if you do not already have one. You will have to complete identity verifiction if you have not already done so.

Head to the accounts page on Independent Reserve

Click on Add on the top right to link your Xfers account to Independent Reserve.

Click Deposit beside SGD.


- Please include the memo for Xfers to tag your account
- Your bank account name must match your Xfers account name

Make a FAST transfer to the account shown

It is advisable to test with a small amount e.g 10 SGD to test the flow before making a large deposit.

4. Purchasing Cryptocurrency with Independent Reserve

Click on Trade on the Navbar.

Independent Reserve currently allows purchase of Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP).

Click BUY on the currency you wish to purchase.
You will be taken to a page to confirm your purchase amount.

Enter the amount you wish to purchase and click Buy

5. Conclusion

That’s it you have purchased cryptocurrency on Independent reserve.

Advanced users may want to try purchasing via orderbook for better control of their purchases.

Click Here for a guide on how to transfer your coins from Independent Reserve to Binance or other exchanges.

Do consider using one of my referral links or leaving me a tip if you find this useful. Clicking on adverts also generates some income for me.
Any contribution is greatly appreciated and motivates me to continue this project.

BTC: 3BTskuSQzF3PZfqFj4sUdp9tSiLMdDGLXj
ETH or ERC20: 0x65a20cDbA50b81E5fA600f4F0655907E5A87C2F5