- How do I register for an account and use the ATM?
To gain access to our ATM network, you must submit a one-time registration (through the ATM) with the following requirements:
- Your own mobile number
- An actual, clear scan of a valid Singapore Government-issued photo ID (both sides); otherwise, your Passport
- A full-face capture taken by the ATM’s camera
Registrations are processed during weekdays from 10 AM – 6 PM, and may take up to 48 hours to complete. The result wil be shared with you via SMS.
- What cryptocurrencies and tokens are currently supported?
Our ATMs currently support buying and selling of Bitcoin (BTC). More cryptocurrencies and tokens may be added in the future.
- What do I need to purchase cryptocurrencies?
You will need SGD notes (S$50, S$100 or S$1,000 notes) and a cryptocurrency address (must only come from your own mobile crypto wallet)
If you don’t have a cryptocurrency address yet, you may download a mobile crypto wallet on your phone using the link below:
- What is a private key and address?
The private key is a text string that works like a password or PIN and can be used to transfer or spend cryptocurrency. It is important that you do not share this private key with anyone since doing so will allow them to access and spend your cryptocurrency.
An address works like a bank account number that you can use to receive cryptocurrency. Each cryptocurrency has its own unique address format.
- How to buy cryptocurrency with my cash?
- How to sell my cryptocurrency for cash?
- How much cryptocurrency can I buy and sell?
The minimum transaction amount is S$50 and the maximum transaction amount is S$4,000 per transaction. You may be able to do multiple transactions based on ATM trading limit given to you. For further details, please call/Telegram/WhatsApp Daenerys ATM Support at +65 8585 9947.
- Are cryptocurrency purchases immediate?
Cryptocurrency purchases via the ATM happens immediately and your purchase should be received within a few seconds. If you are unable to view your purchase in your wallet, it is most likely that the App needs to be refreshed by closing the App and reopening it. Some wallets may not show the transaction until it has been confirmed on the blockchain, which typically takes between 10 to 60 minutes, occasionally this can take longer during times of high transaction volume.
You can check your transaction status using a blockchain explorer using your transaction ID or receiving address. Bitcoin transactions can be verified using Blockchain.com.
- Are cryptocurrency sales immediate?
Cryptocurrency sales via the ATM require that transactions are broadcasted to the network within 15 minutes of the sale confirmation. The sale transaction cancels automatically if the ATM does not detect the transfer on the network within that time frame. Any transfer of cryptocurrency after the given time frame will result to an invalid payment. Your cryptocurrency will be returned to the originating address net of all transaction fees.
Once the transaction confirmation is received by the ATM, you will receive SMS notifications notifying you of the transaction progress (total of two SMS messages). Withdraw your cash by scanning the QR code given on your Redeem Ticket onto the machine. Make sure not to lose your ticket before withdrawing the proceeds from the ATM. We are unable to reprint a duplicate ticket.
- Can I use exchange wallets (e.g. Binance, Kraken, KuCoin, Coinbase) to sell cryptocurrency?
You may use an exchange wallet on your discretion. Exchange wallets works well when buying cryptocurrency (CASH-IN) from our ATMs and sometimes fail when selling cryptocurrency (CASH-OUT) to our ATMs. Exchange wallets sometimes require a lock-out period (e.g.: 30 minutes) when processing a transfer-out transaction and will therefore exceed the ATM time limit of 15 minutes. As well, they deduct their network fee from the cryptocurrency amount you are required to send to complete a sell order. This results in an invalid payment, and your cryptocurrency will be returned to the originating address net of all transaction fees.
- Should I send cryptocurrency to a stranger?
No. Given the level of privacy inherent in many cryptocurrencies, scammers will be prevalent. It is nearly impossible to identify someone solely from a wallet address.
When sending funds, always use your best judgment and never forget that if something sounds “too good to be true”, it most likely is.
Some signs of a potential scammer include, but are not limited to:
- Classified Ads (such as Facebook, Instagram, Carousell, Gumtree, etc.)
- Unsolicited emails regarding job opportunities (Employment Scam)
- Phone calls from unknown persons claiming to be an officer from the Singapore Police Force (SPF) or from the Singapore Customs Agency (Impersonation Scam)
- Phone calls from parcel/courier services demanding you to make a cryptocurrency payment in order to clear a parcel/shipment through Customs (Parcel Scam)
You may visit scamalert.sg to learn more about cryptocurrency and other types of scams.
- I have more questions, who do I contact?
For further questions, you may visit us at the Arcade (level 2, #02-28) at Raffles Place on weekdays only, from 10 AM – 6 PM , or send us an email..