Korean ICO Companies in Singapore Should use Coinmama

Korean ICO Companies in Singapore

Many Korean ICO companies and startups are moving to Singapore.  The ban on ICOs in Korea have sent many blockchain startups to Singapore to raise funds, established companies, launch their token sales, and do crypto exchanges.  It seems like Singapore or Hong Kong are the preferred destinations in Asia.  Those that are looking for an exchange in Singapore, Coinmama might be your best option.

Singapore has become an ICO hub for many Korean blockchain startups and companies.  One of the main reasons Singapore is on the rise for ICOs is because there is a lot less risk of getting attention from lawmakers.  Singapore, unlike South Korea, has embraced blockchain startups.  Those that would like to form a foundation or corporation in Singapore will find the process a lot easier than most countries.

Coinmama makes it easy to purchase crypto with credit/debit cards such as VISA and MASTERCARD.

How to Create a Coinmama Account

Here is a step by step breakdown on how to open an account and the required documents for a Coinmama account:

To place an order, first, you need to get your account verified. To do this, head over to your account page and click on Verify my account on the left side. After that, you’ll be asked to upload a valid government ID along with a selfie containing the ID and a piece of paper bearing the text “Coinmama” and today’s date

Once verified, you’ll be able to buy – in total – up to 15,000 USD worth of bitcoin with credit/debit card.

Acceptable documents are:

  • An international non-US passport (double page)
  • A national ID card (both sides)
  • A driver’s license (both sides)

Keep in Mind:

To avoid delays when verifying your account, make sure that your submitted documents are:

  • Visible in their entirety (all four corners of your document visible)
  • High-quality images (color images, 300dpi resolution or higher)
  • Valid documents, with the expiry date clearly visible
  • Not bigger than 8MB each
  • The Selfie needs to show you holding your ID and a paper note (with the writing “Coinmama” and today’s date on it, written in handwriting) together. Please notice that your face should be fully visible and that the writing on both the paper note and the Identification Document should be clearly readable.
  • The ID on the selfie needs to be readable

Once verified, here’s an easy step-by-step guide to creating the first order.

  1. Log in.
  2. Click Bitcoin or Ethereum.
  3. Choose your amount.
  4. Click the buy button.
  5. Enter the wallet address you want the bitcoins to be sent to.
  6. Confirm your wallet via confirmation email.
  7. Proceed to checkout.
  8. Fill out the form at the Coinmama Checkout Page.
  9. Click “Pay Now”

Coinmama also offers affiliate accounts.  Most banks in Singapore are crypto friendly so there should be no issue linking your Singapore bank with Coinmama.

John Yoon

John Yoon is the Editor in Chief at Startup Radar, Organizer for Startup Festival 2017, Head of Operations Korea at EOS Asia and the Global Marketing Director for Foresting.io. Email = john@startupradar.asia if you are interested in guest contributing and helping the Korean startup ecosystem. Wechat, Kakao, and Line user ID is jswy315

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