How to invest in crypto & bitcoin in Singapore?

For those seeking to venture into the world of cryptocurrency investment in Singapore, it's crucial to understand the landscape and approach it with caution. Could you elaborate on the key steps to investing in crypto and bitcoin in Singapore? Specifically, what are the regulatory considerations to be mindful of? What are the most reliable platforms or exchanges to use? How should investors manage their risks, and what strategies should they adopt to maximize their returns? Additionally, what are the tax implications of crypto investments in Singapore, and how can investors ensure they comply with the tax regulations? Lastly, are there any specific tips or insights you could share for first-time investors in Singapore looking to navigate the crypto market?