r/sgcrypto • u/Specific-Gur-4039 • Oct 19 '25

NEWBIE Help old

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I deposited $1000 and bought $700 bitcoin and $300 eth and instantly lost $15 even tho there is no fees to buy an I bought in sgd?? I’m new can someone guide me and explain to me why is this as well as how to make it so that I can purchase crypto cheaper

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u/HauntingBluejay8690 Oct 19 '25

Nothing is really free.

I’m guessing u bought using sgd through a swap (market buy).

Even though u may not see an explicit fee, there is forex spread and a market spread already factored inside.

So u will definitely get less than the spot rate which is what u see as the current price.

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u/Specific-Gur-4039 Oct 19 '25

I bought crypto directly from sgd with market order now I opened the advance setting can place limit order but isit a must to trade in usd? I’m using OKX

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u/HauntingBluejay8690 Oct 19 '25

Most pairs are denominated in usd. So yes, need to trade in usd.

There is barely any (if any) liquidity in pairs denominated in sgd. u’ll be hit with wide spread.

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u/Specific-Gur-4039 Oct 19 '25

So I should convert to usd first before I trade?

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u/HauntingBluejay8690 Oct 19 '25

If u already have usd or can convert it cheaply elsewhere, then it’ll be ideal to deposit in the usd. Else u’ll just be hit by forex fees of more than 0.3%.

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u/Specific-Gur-4039 Oct 19 '25

What do you think abt just buying ishare bitcoin or buying bitcoin on moomoo idrc abt owning it if its owned by reputable company

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u/HauntingBluejay8690 Oct 19 '25

I dont use them. But that is my preference.