Top 10 Exchanges to Trade Crypto in Singapore (Updated List 2023)
By
Wally Wong
|
Updated 8 Jan 2022
5 minutes
At a glance...
Cryptocurrency has been around for a while. But in the last couple of years, it’s undeniably become one of the hottest topics in finance. In Singapore, individuals and corporations alike are purchasing crypto as an investment. Part of the reason could be the sense of trust in Singapore’s regulations, which has enabled this environment to flourish.
If you’re curious to see what the buzz is about but worried it might be a scam, we got you. Here’s our list of the 12 best crypto exchanges in Singapore where you can rest assured as you get started.
Coinbase
Coinbase is another internationally renowned exchange. As of December 2021, it supports more than 73 million users in over 100 countries, with features suited to individuals, businesses and even developers.
Coinbase
Fees vary Trading Fee
24 # of Cryptocurrencies
USD, EUR, GBP Flat Currencies
- One of the world’s most renowned & trusted cryptocurrency exchanges.
The platform’s popularity can be partially attributed to the steady assurance it gives users via its insurance policy. Coinbase maintains cryptocurrency insurance, and all cash balances held in USD (up to US$250,000) are covered by FDIC insurance.
Features:
- Trusted cryptocurrency exchange
- FDIC insurance cover
Gemini
Next up is Gemini, a trust company from New York that is governed by the New York State Department of Financial Services (NYSDFS). This exchange is star-studded with credentials for its security and reliability. Under the NYSDFS, it’s held to strict regulations on capital reserves, cybersecurity, and banking compliance.
Gemini
- US-based crypto exchange where payments can be made in USD only.
The platform’s sleek trading interface is also highly beginner-friendly. As someone who personally got started with crypto trading on Gemini, I can’t recommend it enough.
Highlights to note:
- US-based exchange
- Tools for beginners and active traders
- Industry-leading security
Independent Reserve
Independent Reserve is one of the OGs. Set up in 2013, this exchange platform was the first in Singapore to attain an MAS licence. Today, it supports more than 200,000 retail and institutional investors.
Independent Reserve
0.5% Trading Fee
3 # of Cryptocurrencies
SGD, USD, AUD, NZD Flat Currencies
- Instant SGD deposits via Xfers
- Tier based fee system that decreases with volume traded
- OTC desk for large orders
Most importantly, it carries some of the most popular cryptocurrencies, like Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT) and Cardano (ADA). Registration is free, and users can easily trade in SGD after depositing it via FAST.
Features:
- Low trading fees
- One of the fastest growing crypto exchanges in South East Asia
- Fast, world-class support
Coinhako
Coinhako was established in 2014 and is one of Asia’s most recognised crypto exchanges. They boast a diverse spread of crypto assets and payment options that make it super convenient to trade crypto with fiat currencies. Most recently, they’ve even begun to support GrabPay as a payment method at a flat fee of 2.5%, making it easier than ever to make purchases.
Coinhako
1% Trading Fee
12 # of Cryptocurrencies
SGD, IDR, VND Flat Currencies
- Singapore based crypto exchange which provides access to some of the most popluar cryptocurrencies
- Link directly to your Singapore or Malaysia bank account.
Highlights to note:
- Multi-payment solutions
- Enjoy market-best cryptocurrencies
Huobi Global
By far the exchange with the highest number of crypto assets on this list, Huobi Global is one of the largest exchanges that caters especially to the Asian region. In addition to the wide range of altcoins and stablecoins it supports, it also has its own platform-specific coin – HUSD, a stablecoin tethered to USD.
Huobi
0.2% Trading Fee
237 # of Cryptocurrencies
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+MORE Flat Currencies
- Platform allows users to trade more than 200 cryptocurrency pairs.
Features:
- Trade with up to 5X leverage for spot trading
- Dedicated 20K BTC security reserve fund
- Client funds are held in dedicated multi-signature cold wallets
Crypto.com
This URL is kind of a no-brainer… and no, it’s not a scam. Apart from its exchange platform, Crypto.com also offers a Visa Card that supports crypto payments to online retailers. Its spending benefits include up to 10% back in CRO, the exchange’s signature token.
Crypto.com
0.2% Trading Fee
64 # of Cryptocurrencies
AUD, EUR, SGD, HKD, GBP, JPY Flat Currencies
- Buy 55+ cryptocurrencies at true cost.
- Earn up to 8% p.a. on holdings.
- Pay with your crypto for cashback at stores.
- Get loans and more with this complete crypto-finance platform.
Features:
- Spend with the Crypto.com visa card and get up to 8% back
- Receiver rewards of up to 14.5% on your crypto assets
Luno
Luno is another exchange that is friendly towards beginners. Its neat and organised interface is careful not to overload the user with information, and navigation to price updates and purchase options is intuitive from the homepage.
Luno
1% Trading Fee
5 # of Cryptocurrencies
EUR, IDR, MYR, NGN, ZAR, SGD, UGX, ZMW Flat Currencies
- UK-based crypto platform.
Highlights to note:
- Earn free Bitcoin by inviting friends
- Beginner friendly platform
- Over $21 billion processed
Kraken
Kraken’s mobile app makes it super convenient for users to trade on the go. Its default interface is catered to beginners, and the website even has trading guides to help you get started on your first trade. On the other hand, it has an advanced version, Kraken Pro – a professional suite designed for more expert traders.
Kraken
0.16% Trading Fee
34 # of Cryptocurrencies
USD, EUR, GBP, JPY, CAD, CHF, AUD Flat Currencies
- Buy, sell and trade a range of digital currencies on this high-liquidity exchange
- Kraken also offers margin lending.
One of its unique features is Kraken Futures, which allows up trading of the most popular cryptocurrencies with leverage of up to 50 times.
Highlights to note:
- Low fees, strong security protections and many currency options
- High number of crypto currencies supported
Insider tip
It’s good to note that playing with leverage always comes with the potential for both great profits and huge losses. Especially if you’re a beginner, we’d recommend lots of caution and research before exploring this feature.
BitMEX
As its name suggests, BitMEX is a peer-to-peer trading platform that specialises in supporting Bitcoin transactions only. It offers leverage of up to 100 times on some of its products.
BitMEX
- Trade cryptocurrency derivatives with high liquidity for bitcoin spot and futures.
- Up to 100x leverage on margin trading.
What we like about BitMEX is its vision. Instead of just being a regular exchange, it actively seeks to give back to the crypto community, which relies heavily on the work of open-source developers, often on a voluntary basis. Therefore, its open source developer grant programme aims to nourish the cryptocurrency and open-source ecosystems.
Features:
- Up to 100x leverage on margin trading
- Trade cryptocurrency derivatives with high liquidity
Binance
If you’ve heard of any crypto exchanges at all, chances are Binance is one of them. Established in 2017, this platform is currently the largest in the world by daily trading volume. We’re not surprised – Binance carries a wide variety of cryptocurrencies, and its range of features caters to both rookies and more advanced traders.
Binance
0.1% Trading Fee
202 # of Cryptocurrencies
USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 23+ more Flat Currencies
- IMPORTANT – Binance stops Singapore Users Buying or Trading Crypto
- High liquidity and multi-language support
- In addition to crypto trading services, Binance also offers margin lending.
Take note, though, that Binance.sg is a separate legal entity from Binance.com. The latter ceased to be supported in Singapore in October 2021, over concerns that it did not have strong enough regulations against money laundering and other financial crimes.
Highlights to note:
- High liquidity and multi-language supported
- Margin lending
