What are NEAR Protocol and NEAR?
NEAR Protocol and NEAR are related but not the same. NEAR Protocol is the network, while NEAR is the native token used within it.
On the network, NEAR is used to process transactions, store data, transfer value between NEAR applications and accounts and support network security.
How to buy NEAR Protocol in Singapore
In the Crypto.com App, the basic steps are:
- Sign up and verify your identity.
- Add funds to your account.
- Head to the trading screen, select NEAR Protocol and complete your purchase.
Before you confirm, review the order details so you are clear on the amount and any costs shown.
Ways to fund a NEAR purchase
You can fund your account for NEAR with a FAST bank transfer in SGD, a Swift transfer in USD, a debit card, Apple Pay, Google Pay or crypto deposited from another wallet. FAST and Swift transfers are free on Crypto.com, while crypto deposits may incur other charges.
The minimum amount needed to buy NEAR Protocol depends on your payment method: SGD 1 for direct purchases with Apple Pay or Google Pay, SGD 20 by card and SGD 50 by FAST bank transfer. This means you can buy a small fraction of NEAR Protocol rather than a whole token.
To withdraw SGD by FAST, you will first need to make at least one SGD deposit, which is a regulatory requirement, with a minimum withdrawal of $50 SGD and a $1.99 SGD fee.