Singapore has been supporting the growth of the financial market, which has prompted many crypto exchanges to open, providing a wide range of trading opportunities for newbies and experienced traders. Due to their high levels of security, easy-to-use interfaces, and strict compliance measures, these platforms have become crucial for anyone interested in investing in cryptocurrencies. Here, we will describe the best crypto exchanges in Singapore to assist you in your investment choices.
Key Takeaways
- You will find a list of the top crypto exchanges in Singapore.
- Get the platform’s features, fees, and more information.
- Read the comparison table to make an informed decision.
List of Approved Crypto Exchanges in Singapore 2024
| Cryptocurrency Exchanges | Best For |
|---|---|
| Coinhako | Best Crypto Exchange |
| Changelly | Best Crypto Hardware Wallet |
| Gemini | Top Crypto Exchange |
| OKX | Low trading fees, Zero OKX deposit fee charged |
| Kraken | Leading Security Protection |
| Crypto.com | Most Trusted Crypto Exchange |
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1. Coinhako
Based in Taipei, Taiwan, Coinhako is one of the most famous cryptocurrency wallets in Asia. Founded in 2014, it is ISO 27001 certified to ensure high security and is compatible with the most widely used token standards, such as ERC-20, among others, and multiple blockchains. This Superwallet enables easy and convenient transactions of many cryptocurrencies, making it the best cryptocurrency investment platform in Singapore. Check out our detailed Coinhako review.
Why We Chose It?
Coinhako is the best crypto exchange in Singapore because it offers a high level of security and has an intuitive design. Its extensive support for multiple cryptocurrencies and compliance with legal requirements make it a good platform for beginners and professional traders.
Key Features
- Spot trading allows users to exchange cryptocurrencies for fiat and vice versa at the current market price.
- Cross-chain transactions securely send and receive cryptocurrencies across different chains.
- Get the best cryptocurrency services in the market today with a multi-functional e-wallet.
| Pros | Cons |
| Intuitive and smooth registration and transaction process. | Few and restricted options for fiat currency to make direct purchases. |
| Strategic alliances with key sectors of the industry. | It does not offer many features for experienced traders. |
| Low transaction fees, which makes the use of the platform cheap. | Some of the negative aspects include a slow response from customer support once in a while |
2. Changelly
Changelly is one of the major instant crypto exchanges, widely used by millions of users worldwide since 2015. This service boasts 2 million monthly active users who can buy and sell over 500 crypto assets with speed and ease. Changelly’s partnerships and affiliate partners with great industry players provide a secure and fast trading process, which makes it widely trusted. For more details, check the Changelly review.
Why We Chose It?
Changelly is appreciated for its fast transactions, relatively low commissions, and large list of cryptocurrencies, making it one of the best crypto exchanges in Singapore. Its partnership with the major market leaders and 24/7 customer support service contribute to the improved user experience, making this platform one of the most suitable for crypto exchanges in the Singapore market.
Key Features
- Fast exchange between two cryptocurrencies with the industry’s lowest fees of up to 0.25%.
- Offers over 500 digital assets such as BTC, ETH, XRP, and LTC.
- Visa and Mastercard for purchasing cryptocurrency, bank transfer; and Apple Pay
| Pros | Cons |
| The interface is incredibly simple to use, and trades are completed in no time. | Limited fiat-to-crypto exchange. |
| Top-notch security features are in place to ensure that users’ funds and identity are kept secure. | Not very advanced tools, which would attract professional investors. |
| The ability to trade with more than one fiat currency is great for the accessibility of users around the world. | The customer support team is not highly responsive. |
3. Gemini
Gemini supports numerous fiat currencies like USD, AUD, SGD, and more. Gemini is known for its robust security features, making it a trusted and reliable trading platform. Appropriate for both newbies and professionals, it is a place that has a user-friendly interface, thus proving very versatile in the cryptocurrency market. Gemini comes with some unique features, such as secure asset storage and a variety of trading options, making it a suitable choice for cryptocurrency investment in Singapore. For more information, read the Gemini review here.
Why We Chose It?
It is essential for an exchange to be compliant with the regulations, support fiat currencies, and ensure the highest level of security, and Gemini excels in all these aspects. It is a reputable Singapore crypto exchange that offers a straightforward trading platform that is easy to navigate and has a clear fee structure.
Key Features
- Fast trading speed between two cryptos with the lowest industry fees of up to 0.25%.
- Offers more than 500 digital currencies like BTC, ETH, XRP, and LTC, among others.
- Visa and Mastercard to buy cryptocurrency, bank transfers, and payments through Apple Pay.
| Pros | Cons |
| Easy to navigate and transactions are carried out in the shortest time possible | Few fiat-to-crypto exchanges are offered. |
| It is secure, and customers’ funds and identities are guarded | It has no professional attraction tools. |
| The capability to trade using multiple fiat currencies is beneficial to global users in terms of accessibility. | Support service representatives take too much time to respond. |
4. OKX
OKX is a popular bitcoin trading platform in Singapore. It has gained recognition due to its many trading pairs and user-friendly interface. OKX is secure and efficient, making it perfect for new and experienced traders. The best part of the OKX crypto platform is it upgrades with time and introduces new features for easy trading. For more details, read our OKX review.
Why We Chose It?
OKX was chosen due to its extensive trading tools, high trading volume, and strong security precautions. It is a good choice for trading cryptocurrencies because it offers a wide range of cryptocurrencies and sophisticated trading instruments.
Key Features
- OKX provides spot trading, futures trading, and margin trading pairs depending on the client’s preferred trading style.
- They provide multiple levels of security, such as cold storage and two-factor authentication, to safeguard the users’ investments.
- Contributes to fast and efficient transactions with high trade turnover, reduces slippage, and offers better trade execution.
| Pros | Cons |
| Trading interface is easy to navigate which makes it easy for users to trade no matter their level of experience. | Advanced features and tools might be confusing for new traders who are just entering the market |
| Offers a great variety of cryptocurrencies, meaning that there are many opportunities to trade. | Some trading options can attract more fees as compared to other exchanges. |
| Availability 24/7, so the customers can deal with the problems without delay. | Some of the users may be restricted by the availability in some countries. |
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5. Kraken
Kraken is one of the oldest and most reliable crypto trading platforms, founded in 2013. As one of the most compliant and transparent exchanges, Kraken offers a wide array of tools and features for all users. You can learn more about the platform by visiting our Kraken review page.
Why We Chose It?
Kraken was chosen because of its stringent security measures, the wide range of cryptocurrencies offered, and the platform’s ease of use. This makes it a reliable option for investors in crypto because it is a licensed crypto exchange in Singapore and the clear and reasonable fees it charges.
Key Features
- Kraken has spot trading, futures, and margin trading to meet the needs of clients, depending on their style of trading.
- Uses safety features such as 2FA, cold storage, and encryption to ensure the security of the users’ assets.
- High number of cryptocurrencies, means a great variety of trading options for customers.
| Pros | Cons |
| It guarantees a safe trading environment, reaching the best regulation levels. | It has many features that might be very complex for a new user. |
| It allows the user access to a wide range of digital assets, essentially increasing the versatility of trading. | It generally takes more time to have the account verified compared to other exchanges. |
| It has well-defined and affordable charges so that the cost issue is handled well by the users. | There are fewer options for depositing and withdrawing fiat currencies, which might inconvenience some users. |
6. Crypto.com
Established in 2016, Crypto.com has become a prominent cryptocurrency exchange with extensive support for over 350 digital assets. They cater to a wide audience, from beginners to experienced traders, with their user-friendly platform, competitive fees, and focus on security. To understand why this might be the right fit for you, visit our Crypto.com review page.
Why We Chose It?
We chose Crypto.com for its vast range of cryptocurrencies, low transaction charges, and other unique and exciting financial services. The emphasis on security and usability makes it a perfect fit for both newcomers and experienced traders.
Key Features
- Crypto.com has spot trading, margin trading, and futures options to meet different trading needs.
- Affordable fees make trading and investments in this market economical.
- Staking and other programs offer further utility, which allows users to earn interest on their cryptos.
| Pros | Cons |
| A full set of services related to trade, stake, and fund management in a crypto wallet shape the usability of the wallet. | The number of alternatives in a single wallet is difficult for new traders to understand. |
| Top-rated security: two-factor authentication and cold storage. | The time taken for the response is less than that of other platforms. |
| An intuitive, integration-rich experience in trading and asset management with its mobile application. | Fewer fiat currency choices for deposit and withdrawal might hinder a few customers. |
Comparing The Best Crypto Exchanges in Singapore
| Crypto Exchanges | Available Coins | Fees (Maker & Taker) | Minimum Deposit |
|---|---|---|---|
 |
100+ | 0.60% & 0.60% | 25 USDC/ 25 USDT |
 |
500 | 0.1% & 0.1% | No Deposit |
 |
70+ | 0.02% & 0.07% | $0 |
 |
300+ | 0.080% & 0.100% | $0 |
 |
240+ | 0.25% & 0.40% | $0 |
 |
350+ | 0.0750% & 0.0750% | $1 |
Disclaimer: The fee structure may vary based on trading volume. Rates are subject to change and can fluctuate according to market conditions
Cryptocurrency Law and Regulations in Singapore
Singapore has provided extensive legal guidelines for trading cryptocurrencies, which provides a secure ground for investors. This sector is regulated by the Monetary Authority of Singapore (MAS), and the companies have to adhere to stringent rules regarding money laundering and terrorism financing. Furthermore, all crypto exchanges must be licensed and conform to the Payment Services Act to enhance transparency and safeguard consumers.
Our Methodology
Our approach to reviewing different crypto exchanges involves assessing them on a range of factors to deliver the best and most credible reviews.
- Basic And Advanced Trading Features
- Educational Resources
- Fee structure
- Safety and Security Measures
- Customer Support Services
- Ease of Deposit And Withdrawal
- Range Of Products
- Platform Usability (Desktop and Mobile)
Learn more about our approach to reviewing Crypto Exchange platforms. Explore our methodology!
Conclusion
Our exploration of the best crypto exchanges in Singapore has unpacked its strengths, from robust security measures to diverse trading options and intuitive platforms. With this knowledge at hand, you’re empowered to make informed decisions. Remember to prioritize factors like fees, customer support, and platform usability to find the exchange that aligns with your investment goals. Dive deeper into each exchange to uncover the perfect fit for your cryptocurrency journey in Singapore.
FAQs
Which crypto exchange is licensed in Singapore?
All global crypto exchanges operating in Singapore under the monetary authority of Singapore are licensed ones. So check for the banking compliance standards and license information before proceeding with any crypto exchange.
Is it legal to buy Bitcoin in Singapore?
Yes, it is legal to buy Bitcoin in Singapore. Singapore’s central authority, the Monetary
Authority of Singapore, has implemented legal requirements for cryptocurrency
exchanges.
Is crypto taxable in Singapore?
Indeed, it is important to note that while cryptocurrencies are legal in Singapore, they
are also taxable. Gains generated from dealing in or utilizing the cryptocurrencies are
deemed as income and therefore subject to taxation.
Which crypto exchange is approved in Singapore?
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Cryptocurrency exchange operating under the authority of Singapore MAS is an approved exchange in Singapore, and Singapore users must register only for these licenses.