Convert
Singapore Dollar (SGD) to CTC (CTC) Instantly
Purchase CTC (CTC) with Singapore Dollar (SGD) easily at Switchere and benefit from fast, secure transactions.
About
CTC (CTC)
Creditcoin (CTC) is a foundational blockchain technology designed to address a critical gap in the global financial system: the lack of a universal, transparent credit history. Its primary objective is to create a decentralized network for a borderless credit market, specifically targeting the unbanked and underbanked populations. By recording loan performance on a public digital ledger, Creditcoin provides a mechanism for individuals and businesses to build a verifiable, on-chain credit history. This digital asset aims to bridge the divide between traditional finance and DeFi applications, fostering greater financial inclusion by making credit more accessible and transparent across the globe through its innovative Web3 infrastructure.
The core of the Creditcoin protocol involves linking real-world, off-chain loan agreements to its immutable blockchain. This process creates objective proof of creditworthiness that is not controlled by any single entity. The native utility token, CTC, is integral to the ecosystem's operation. It is used to pay for transaction fees required to record credit transactions, such as loan requests and repayments, on the chain. Furthermore, CTC can be utilized for staking to enhance the cryptographic security of the network. This unique approach to integrating real-world assets (RWA) in the form of private credit establishes a foundational layer for on-chain reputation and new financial products.
How to Buy CTC (CTC)
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Frequently asked questions
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What are the common methods to buy Creditcoin (CTC) using Singapore Dollars (SGD)?
To buy Creditcoin (CTC) with SGD, you typically use a cryptocurrency exchange that functions as a fiat on-ramp. The most common route involves depositing SGD into a regulated platform via FAST transfer or PayNow, purchasing a major digital asset like USDT or BTC, and then trading that asset for CTC on an exchange that lists the corresponding pair. Direct SGD/CTC trading pairs are less common, so this two-step process ensures access to better liquidity. -
What regulatory considerations apply when processing SGD to CTC transactions in Singapore?
Any fiat on-ramp service operating in Singapore is subject to oversight by the Monetary Authority of Singapore (MAS). This means platforms facilitating SGD to CTC purchases must adhere to strict KYC/AML (Know Your Customer/Anti-Money Laundering) compliance. Users must verify their identity, which helps create a secure trading environment and prevent illicit activities, ensuring the integrity of transactions involving Creditcoin's blockchain-based credit ecosystem. -
How does Creditcoin's technology for real-world asset (RWA) collateral relate to an SGD purchase?
Purchasing CTC with SGD provides direct capital access to the Creditcoin ecosystem, which is designed to record credit history and loan performance from emerging markets. This data effectively serves as a form of real-world asset (RWA) collateral on the blockchain. Your SGD investment into CTC helps support a network where fintech lenders can verify borrower creditworthiness, bridging traditional finance in a major hub like Singapore with the unrecorded economy. -
After acquiring CTC with SGD, what is the best practice for storing the digital asset?
Following a successful digital asset purchase, it is highly recommended to transfer your CTC from the cryptocurrency exchange to a secure, non-custodial digital wallet. This action gives you full control over your private keys, mitigating risks associated with exchange hacks or freezes. Using a personal wallet ensures that you truly own your assets on the Creditcoin blockchain and can interact with its credit lending features directly. -
What kind of fees can I expect when trading SGD for CTC?
Trading SGD for CTC typically involves a multi-step process with associated fees. First, there may be a deposit fee for funding your exchange account with SGD via FAST or PayNow. Second, you'll incur a trading fee when you convert SGD to an intermediary asset like USDT. Third, another trading fee applies when you trade that USDT for CTC. Finally, expect a network withdrawal fee, determined by the Creditcoin blockchain's Proof-of-Work mechanism, when you move your CTC to a private digital wallet.