Best Crypto Exchanges In Singapore
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There are many Singaporean crypto exchanges to use for buying digital assets it can be a difficult task for beginners to find an exchange that's the right fit. We have reviewed over 100 crypto platforms to find the best cryptocurrency exchanges in Singapore. Our picks for the best exchanges take into account the features available, supported payment methods, number of cryptos, fees, security, and customer support. Moreover, compliance with regulations in Singapore such as the Monetary Authority of Singapore (MAS).
Top Cryptocurrency Exchanges In Singapore For 2023
Based on our reviews, these are the best crypto exchanges for Singapore:
- Kraken (safe, reliable platform to buy & sell)
- Coinbase (high quality, reputable, safe exchange)
- Gemini (Safe crypto exchange for Singaporeans)
- Crypto.com (global crypto trading app)
- Independent Reserve (trusted and licensed crypto exchange)
- Coinhako (MAS-approved crypto exchange)
- Luno (accepts Xfers using SGD)
- Tokenize (local exchange)
- Zipmex (good all-round SG exchange)
Crypto Exchanges In Singapore Compared
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|222||0.16% (maker) and 0.26% (taker)|
|None available at this time||Visit Kraken||Kraken Review|
|250+||0.4% (maker), 0.6% (taker)|
|$5 BTC bonus (USA only)||Visit Coinbase||Coinbase Review|
|None available at this time||Visit Gemini||Gemini Review|
|None available at this time||Visit Crypto.com||Crypto.com Review|
|BTC, ETH, XRP, USDT, ADA and 25 more||0.5% maximum, 0.02% minimum|
|None available at this time||Visit Independen...||Independent Reserve Review|
|None available at this time||Visit Coinhako||Coinhako Review|
|10||0% - 0.1% (exchange), 2% (instant buy/sell)|
|Deposit $30 worth of any crypto and get AUD $30 worth of BTC||Visit Luno||Luno Review|
|62||0.2% maker, 0.2% taker|
|None available at this time||Visit Zipmex||Zipmex Review|
Best Crypto Exchanges In Singapore Reviewed
Our review and assessment of the best Bitcoin exchanges are based on important factors such as ease of use, reputation, charting features, trading fees, deposit methods, security and customer support.
1. Kraken - Best Overall Crypto Platform For Singapore
Kraken is a Bitcoin and cryptocurrency platform that was founded in 2011 that is based in the United States. The platform is a top 5 exchange based on traffic, liquidity, and trading volumes of spot markets.
Kraken has 54 cryptocurrency assets available to buy such as Bitcoin, Ethereum, Tether, XRP, Solana and Litecoin. There are also popular DeFi tokens like Compound (COMP), Kava (KAVA) and Kyber Network (KNC). Traders can use advanced trading options and automated portfolio monitoring to allow users to monitor the market and manage their portfolios using a single website or mobile app.
For advanced traders in Singapore, Kraken has a good selection of conditional orders such as Market, Limit, Stop loss, Take profit, Stop loss limit and Take profit limit. This makes Kraken an excellent day trading platform for crypto when combined with its deep liquidity. Although, the user interface is quite basic and does not include a visually-appealing interface compared to other feature-rich platforms such as Coinbase and Gemini.
2. Coinbase - Best Crypto Exchange Singapore For Beginners
Coinbase is a safe and reputable crypto exchange to buy Bitcoin and over 250 alternative cryptocurrencies. The popular exchange is trusted by thousands of customers all over the world. It is one of the safest cryptocurrency exchanges with no reported hacks or compromises of the security systems and wallets resulting in any loss of funds due to criminal activity. Coinbase has also received in-principal approval from MAS to operate as a regulated crypto exchange in Singapore as of 2022.
Coinbase provides a simple way for investors that are looking to buy cryptocurrency in Singapore using a credit or debit card that supports "3D Secure." Digital assets can be stored in an online wallet and monitored using a highly intuitive mobile app. Users can also trade crypto assets using Coinbase Pro which offers competitive trading fees and advanced trading features.
Once a Coinbase account is created and verified, residents in Singapore can choose a payment method to fund their wallets such as a debit card. A major benefit of using Coinbase is that funds stored online are covered by an insurance policy. The downside with Coinbase is the fees which start from 0.5% and reduce with trading volume. Compared to the top trading platforms, the fees on Coinbase are quite high. For a list of cheaper alternatives to Coinbase, read this article.
3. Gemini - Best For Secure Wallet
Gemini is a US cryptocurrency exchange that is popular for providing a safe way for individuals, traders and institutions to buy, sell, and store Bitcoin and cryptocurrency.
The platform provides an advanced trading platform, custody service, secure wallet, mobile trading app and off-exchange crypto trades. Gemini is continually pushing the boundaries of mass adoption and innovation to provide an easy and safe way for world citizens to interact with crypto. An example is its mobile app which is modern, fresh and a secure way to purchase crypto assets.
4. Crypto.com - Best Singaporean Exchange For Crypto App
Crypto.com was developed with the aim of becoming the world’s first cryptocurrency bank. With that vision in mind, the company has grown extensively since its 2016 launch and now hosts an expansive range of cryptocurrency services and products.
With over 10 million customers worldwide, Crypto.com is one of the best crypto trading apps that is supported in Singapore. Crypto.com app is an all-in-one platform to buy, sell, trade, spend, store, earn, loan cash and even pay bills with crypto. Users can buy Bitcoin or other assets using a credit card or bank transfer via the Singapore-based payment option X-fers.
Using their own native digital token coin (CRO), Crypto.com can provide deep liquidity resulting in competitive trading fees to buy 80+ crypto coins at true cost with no mark-up or fees. The user interface is highly intuitive on an easy-to-use mobile app. New users are eligible for 90 days of zero-fee crypto trading for 90 days.
5. Independent Reserve - Best Option For SGD Deposit Methods
Trusted by over 200,000 customers and established in 2013, Independent Reserve is one of the most trusted exchanges in South-East Asia. Independent Reserve is Singapore's first cryptocurrency exchange to be fully licensed by MAS (Monetary Authority of Singapore).
The exchange caters to retail users, trusts and institutions to buy Bitcoin, Ethereum and XRP using Singaporean dollars (SGD), USD, AUD or NZD. Deposit SGD instantly via Xfers or foreign currency via SWIFT. Independent Reserve offers an OTC desk for large purchases over SGD $100,000 to $10+ million.
6. Coinhako - Best Regulated Crypto Exchange in SG
Coinhako makes our list of the best crypto platforms in Singapore as it is one of the few crypto exchanges that are fully regulated by MAS. Unlike other exchanges in this list that have "in-principal approval only", Coinhako is fully licensed to operate as a financial service provider of digital currencies. Moreover, the exchange is Singapore-born and bred since 2014 and its founders, Yushuo Luo and Gerry Eng have a strong understanding of what makes a good crypto exchange in Singapore.
Of the many benefits of Coinhako, the most notable is the purpose-built website and mobile app that is tailored to beginners. This is a double-edged sword, however, for newer citizens in Singapore that want to dabble with cryptos, Coinhako is one of the best options. The overall process of creating an account, completing ID verification, depositing funds, and buying digital assets is fast and simple. Sophisticated crypto investors and traders will need to look elsewhere as there is a significant lack of advanced trading tools and features beyond buying and selling with SGD.
As for the fees, Coinhako charges a flat 0.6% transaction cost. This is competitive within the Singapore market, however, is quite expensive when compared to Independent Reserve (0.5%) and Kraken (0.16% /0 .26%). However, there are no fees to deposit SGD via a bank transfer.
7. Luno - Best For Beginners
Luno is a cryptocurrency exchange based in Singapore and over 60 countries worldwide. With over 6 million users globally and 17 billion USD in transactions, Luno is one of the larger exchanges throughout the Asia-Pacific that offers a quick way for individuals to invest in Bitcoin or altcoins such as Ethereum, XRP and Litecoin.
The trading experience has been designed for beginners and is one of the easiest ways to start trading crypto using a wide range of fiat currencies. Luno also provides a trusted and secure online wallet for individuals to temporarily store their coins.
8. Tokenize - Best Local Crypto Exchange For Traders
Tokenize Exchange is a cryptocurrency platform based in Singapore that was launched in early 2018. The exchange was designed to provide an easy to use and simple user interface for individuals to invest in 20 of the most popular and liquid digital assets and trading pairs. Each coin can be traded against SGD, USD, BTC and ETH using the exchange.
Tokenize Exchange basic account (free) includes three options for Singapore residents to deposit funds and purchase Bitcoin, Ethereum and other digital currencies. The supported deposited methods include deposit by transferring, swap from XSGD wallet and deposit via bank.
9. Zipmex - Best Crypto Platform Singapore With Low Fees
Zipmex is an online exchange that is based in Singapore to provide a safe platform for buyers and sellers in the digital currencies market. The platform works as a broker to find the best crypto prices by aggregating volume from the world's most liquid global exchanges and OTC desks.
Access to global liquidity is reflected in the competitive trading fees of 0.2% per trade. Users in Singapore can deposit USD or SGD using a wire transfer of bank deposit to fund an account.
How To Find The Best Crypto Exchange In Singapore
With so many cryptocurrency exchanges starting up, it can be a challenging task for beginners in Singapore. We have individually researched the exchanges listed above and rated the performance against the following criteria. For more information on our methodology for comparing the best exchanges, read our exchange review and rating process.
Using a licensed exchange with the Monetary Authority of Singapore (MAS) is the safest option to buy and sell crypto in Singapore. The country enforces one of the world's highest standards of financial laws and regulations that governs the digital currency industry. Therefore, we ensure the exchange is a licensed company and complies with regulations.
Ease of use is an important consideration, especially for individuals that are investing in cryptocurrencies for the first time. This includes the online desktop website and mobile phone app. It is essential that a user can create an account, complete KYC, deposit funds and purchase Bitcoin using a streamlined and quick process.
The availability of locally supported payment methods to fund an account should be at the forefront of new investors in Asia. Our rating checks the deposit methods available for residents in Singapore using the local currency SGD. For example, one of the quickest and most accessible deposit options is using a bank transfer via Xfers.
Withdraw to local bank account
Not all cryptocurrency exchanges allow the withdrawal of SGD to a bank account. This is an important feature for investors that will eventually cash out of their investment. Regulated exchanges based in Singapore will have the option to convert crypto back to SGD and into a bank account.
Bitcoin is widely available on the vast majority of digital currency platforms. However, there are thousands of other altcoins and tokens that have become popular. Our rating takes into consideration the number of cryptocurrency assets available and the trading pairs against cryptos and fiat currencies.
The risk of online scams, fraud and theft is a major concern in the blockchain community. Our scoring system assesses the platform's security features to ensure the safety and protection of funds stored by the exchange. Common security measures include cold wallet storage, multi-signature withdrawal process and two-factor authentication.
There are several different fees to be aware of when using a crypto exchange such as depositing fiat, foreign conversion charges, withdrawing cash or crypto and trading between assets. Exchanges also charge a spread fee which is often a 'hidden cost' and is not always disclosed. Essentially it is the difference between the bid and ask price on the market.
Explore the website to find out what communication methods are available to support users that need troubleshooting advice or assistance on the exchange. Also, some exchanges will provide comprehensive FAQ's and How-To-Guides which are useful for beginners.
Search for online exchange reviews, forum comments and posts on social media is a great way to see what experience other investors and traders have had with the platform.
Frequently Asked Questions
Bitcoin and other forms of cryptocurrencies are not currently recognised as legal tender in Singapore. The Monetary Authority of Singapore (MAS) has granted several crypto companies such as Coinbase, Binance and Luno with a temporary licence under the new Payment Services Act. This allows the providers to continue operations in Singapore to provide a platform for individuals to buy Bitcoin. For a list of countries that accept Bitcoin as legal tender, read our article here.
The best way to obtain Bitcoin is to use a regulated and trusted exchange that offers BTC and accepts Singapore Dollars as payment. The benefits of using a local exchange in Singapore are:
- Exchange must comply with Anti Money Laundering (AML) reporting obligations
- Regulated by the Monetary Authority of Singapore (MAS)
- Buy/sell directly from the exchange using Singaporean dollars
- Supports local methods to deposit SGD such as debit card or bank transfer using X-fers
- Local customer support service that is easier to get in touch with
Individuals that buy or sell digital currencies such as Bitcoin using a trading exchange will be taxed on the profits made. Businesses that accept Bitcoin as a payment method for goods and services will be subject to normal income tax rules and tax dedications under Singapore's tax laws.
Coinbase is a global exchange that was granted a 6 month digital payment token service in July 2020. The provisional licence allows Coinbase to continue its operation temporarily under the new Payment Services Act.
Users in Singapore can trade Bitcoin using a cryptocurrency platform to convert fiat currency or different digital assets such as Ethereum into Bitcoin. To trade Bitcoin, the process involves:
- Create an account with a cryptocurrency exchange such as Coinbase
- Complete the signup registration process and verify your identity (KYC)
- Enter SGD funds into the account using a debit or credit card
- Select Bitcoin (BTC) from the cryptocurrency asset list
- Enter the amount of Bitcoin to buy using SGD balance
- Review purchase order and complete the trade
Individuals that want to trade Bitcoin with leverage can use a futures or derivatives exchange with margin trading with a 100:1 multiplier on their available funds. Here is our list of the best crypto margin platforms to choose from.
The best way to store digital assets such as Bitcoin, Ethereum and Litecoin is a trustworthy cryptocurrency wallet such as the Ledger Nano X, CoolWallet Pro and TREZOR T. In particular, using a cold storage wallet provides an airlock between internet-connected devices and the asset. Even if the hardware wallet is damaged, lost or stolen, the funds can be accessed using a variety of back-up options such as using a recovery phrase.
To conclude our article on the best cryptocurrency exchanges to use in Singapore, it is wise to stick with well-established and reputable exchanges that are supported in Singapore and accept Singapore Dollars or at least US Dollars. The above Bitcoin & crypto trading platforms have been established for many years and have a responsive customer support team. Read our buying cryptocurrency guide for a walk-through on the exact process to make a crypto purchase.