Best Crypto Exchanges Singapore
Singapore is a major financial hub where cryptocurrency usage is on the rise. Investors look for the best cryptocurrency exchange in Singapore, with up to 93% of the population having some knowledge of the market.
To find the best cryptocurrency exchanges in Singapore, we have reviewed some of the leading Singapore cryptocurrency exchanges.
This guide includes information about the most trustworthy and secure cryptocurrency exchanges and aspects to consider when selecting an exchange. We have considered factors such as the number of cryptocurrencies, trading fees, withdrawal fees, fund transfers, security, features, and regulation, among others, while selecting the top exchanges in Singapore. Read further to know more.
Best Crypto Exchange Singapore: Our Opinion
Independent Reserve is our top option for the best crypto exchange in Singapore, as it is the first retail cryptocurrency exchange to get full MAS licensing clearance (Monetary Authority of Singapore).
Independent Reserve - Most Trusted and Secure Exchange in Singapore
Independent Reserve is considered one of the safest cryptocurrency exchanges in Singapore, and it offers automatic trading options to advanced traders. It does, however, have a relatively restricted coin selection, and fees are higher than the industry standard; lower fees are tied to the volume of trading.
Independent Reserve accepts 4 fiat currencies, AUD, USD, NZD, and SGD, and 29 cryptocurrencies, as well as 29 cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Tether (USDT). Independent Reserve reported over 200,000 customers in Australia alone since its establishment in 2014.
An AutoTrader and an Over-the-Counter (OTC) platform for high-volume traders are two of Independent Reserve’s best features. Independent Reserve has been approved by the Monetary Authority of Singapore to operate as a regulated provider for Digital Payment Token (DPT) services. Regulation using a licensed exchange with the Monetary Authority of Singapore (MAS) is the safest option for trading crypto in Singapore.
Key Features of Independent Reserve
- The AutoTrader is the company’s first foray into copy trading. Independent Reserve has an extensive collection of automated trading strategies such as Autobuy on Deposit, Dollar Cost Averaging, and AutoBasket.
- The mobile app enables quick and easy deposits on iOS and Android smartphones. The user can also use mobile devices to access all of the advanced trading tools, track their portfolios, and view previous transactions – all in one spot.
- High-volume Over-the-counter (OTC) trading is a unique VIP service with several advantages for Bitcoin traders. Same-day settlements, increased liquidity, lower slippage, and a staff of experienced investors to answer any questions you may have are just a few advantages.
- Easy registration and the KYC process is simple and quick.
We summarised all the Independent Reserve key features, but we also made an in-depth Independent Reserve Singapore Review page that you can check out.
Independent Reserve Security
Independent Reserve crypto exchange provides users with various security features, including two-factor Authentication, email notifications for each login, and even protection against brute force assaults with Bot Shield.
All personal data is encrypted from beginning to finish, and regular audits are being conducted with top organizations in the industry, as well as a bug bounty program to uncover vulnerabilities before they are exploited. Users can receive a reward if they report any vulnerabilities.
To withdraw funds from its vault, the crypto platform uses a multi-signature withdrawal protocol, and over 97% of the digital assets are kept in cold storage in geo-distributed data centers. The crypto exchange is one of the few protected by Lloyd’s of London underwriters, one of the world’s largest insurance companies.
Independent Reserve Fees
- Trading Fees: From 0.5% to 0.02% (based on monthly trading volume)
- Spread: 0.01%
- Deposit Fees (Electronic Transfer): $0.99, or free if depositing over $100
- Deposit Fees (PayID, Osko): $2.50, or free if depositing over $1,000
- Deposit Fees (Swift): $15 USD, or free if depositing over $5,000 USD
- Deposit Fees (Crypto): Free
- Withdrawal Fee (Electronic Transfer): Free; (PayID): $1.50; (Swift): $20 USD
- Withdrawal Fees (Crypto): Depends on the crypto (0.0003BTC for Bitcoin)
Gemini - Best Crypto Exchange for Withdrawals
Gemini is considered a popular cryptocurrency exchange that allows individuals, traders, and institutions to sell, buy and store Bitcoin and other cryptocurrencies in a secure environment.
A comprehensive platform to trade cryptocurrency, custody service, secure wallet, mobile trading app, and off-exchange crypto trades are all available through the platform. Gemini Exchange makes it easy to research the crypto market and build a portfolio for the future of money.
Gemini is continuously pushing the boundaries of adoption and innovation to create an easy and secure platform for crypto investors worldwide to interact with cryptocurrency. Its smartphone app, for example, is intuitive and a safe way to buy digital currencies.
Key Features of Gemini
- Gemini is a beginner-friendly exchange that allows customers to effortlessly access and manage their cryptocurrency investments. More aggressive traders, on the other hand, can use Gemini ActiveTrader, a powerful trading platform created specifically for professional crypto traders.
- Around 85 different altcoins are available on the crypto exchange, including prominent ones like Bitcoin, Ether, and Bitcoin Cash.
- Gemini members may store more cryptocurrency in their digital wallets thanks to added benefits such as incentive coins and interest payments.
- Users get access to a streamlined picture of their Bitcoin holdings and all the tools they need to become successful crypto traders.
Security of Gemini
Users of the Gemini cryptocurrency exchange may rest easy knowing that their funds are safe, thanks to the company’s industry-leading focus on security. Gemini is a registered trust company in the state of New York. To guarantee regulatory compliance, the organization undergoes routine bank examinations and occasional cybersecurity audits.
Hardware security keys can be used to protect Gemini accounts. Gemini was one of the first Bitcoin exchanges to be certified as SOC 1 Type 2 and SOC 2 Type 2. All cryptocurrency holdings on the Gemini platform are insured by leading insurance providers.
Fees of Gemini
- Trading Fees – 0.9% to 2.99%
- Withdrawal Fee – Free
- Facility Fees – 0.50% below the market rate
- The transaction fee structure ranges from $0.99 to 1.49% of the order price.
Kraken - Best Cryptocurrency Exchange for Advanced Traders and Institutions
Kraken is an online crypto exchange and one of the best cryptocurrency exchanges that provide individuals and institutions in over 200 countries with various investment possibilities. Kraken is known for its commitment to security, its extensive app and browser experience, and its comprehensive list of available cryptocurrencies. Checking out Kraken is a wise choice for users looking for a secure, app-based crypto trading experience.
Kraken’s additional services can benefit institutions and high-net-worth individuals. Account management, one-on-one consultations, OTC trading, and expert market insights are among the services available.
Key Features of Kraken
- The Kraken crypto exchange includes basic trading that allows users to buy, sell, and convert cryptocurrencies using the app. In the same interface, you can easily make deposits and withdrawals.
- Trading digital assets is a simple process that just requires a few clicks to complete.
- OTC Trading Desk – For high-net-worth investors, Kraken’s over-the-counter site permits block trading. For completing trades, get one-on-one attention and advice from specialists.
- Qualified investors can access up to 5 times leverage, as well as a professional-level trading interface and $500k in trading limits.
- Kraken crypto exchange provides the standard set of cryptocurrency buying, selling, and trading services. However, personalized attention enriches the entire process.
We summarised all the Kraken key features, but we also made an in-depth Kraken Singapore review page that you can check out.
Security of Kraken
Kraken’s most prominent claim to fame is that it is one of the safest crypto trading platforms, which has gone ten years without a single hacking incident. Because of Kraken’s multi-layered approach to security, those who are concerned about hacking can feel secure. At Kraken, physical security consists of high-tech equipment and the necessary infrastructure to defend them. More than 95 percent of Kraken’s coin storage is offline and spread across various locations.
At each level, cybersecurity backs up physical security with powerful encryption. Users’ control over security protocols is also critical to Kraken’s ability to remain on top of threats. Without phone-based account recovery, all accounts require 2-factor authentication. Encryption is used for all communication and browsing.
Fees of Kraken
- Stablecoins – 0.90% when purchased with USD or another stablecoin, 1.50% when purchased with cryptocurrency other than a stablecoin
- Crypto or other FX pair – 1.50% fee
- Payment card processing fee – 3.75% + Kraken fee
- Digital wallet payment processing fee – 3.75% + Kraken fee
- Online banking processing fee – 0.50% + Kraken fee
Coinbase - Best for Beginners
Coinbase is one of the best crypto exchanges and investment websites that lets users buy, sell, and exchange over 100 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Coinbase is one of the reputable exchanges with more than 98 million users and $256 billion in assets.
Beginners will likely prefer the original Coinbase crypto exchange platform for simple buy and sell orders. Coinbase Pro, available to all Coinbase users, gives advanced traders access to extra tools and order types.
Key Features of Coinbase
- Coinbase crypto exchange is easy to use. It takes no time to sign up. You can link your bank account to your account using the data transfer network Plaid to get a low trading fee. The user interface e-transfer is easy to use. Coinbase allows you to swap specific cryptos for others.
- Coinbase awards customers with cryptocurrency as they complete lessons on its Learn platform. Each interactive, Instagram Stories-style class takes less than 10 minutes, and users are usually rewarded with $1 to $5 worth of the coin they’re learning about.
- Those who own particular coins in their Coinbase accounts can receive rewards for staking them or use them as collateral to validate transactions for proof-of-stake cryptocurrencies such as Ethereum.
- Coinbase is aimed at newcomers; however, Coinbase Pro may be of interest to more experienced traders. Both Coinbase and Coinbase Pro accept the same login credentials.
- Coinbase Pro provides a comprehensive crypto trading experience, including improved charting and a wider range of order types, including market, stop, and limit orders. It also has lower trading fees and permits free transfers between Coinbase and Coinbase Pro wallets.
We summarised all the Coinbase key features, but we also made an in-depth Coinbase Singapore review page that you can check out.
Coinbase has earned a reputation for being a safe location among cryptocurrency exchanges to purchase and sell crypto 98% of user funds are held offline in various places throughout the world, enhancing the security of digital currencies.
Coinbase stores users’ cryptocurrency in its free wallet service, but users can also store it in a third-party wallet. To sign in 2-factor authentication, biometric fingerprint and AES-256 encryption on private keys are included features.
- Spread – 0.50%
- Coinbase fee varies depending on the value of your purchase, the fiat you used, payment method, order size, and market conditions such as volatility and liquidity, among other things.
- Coinbase also charges fees to cover the costs of completing transactions on the external blockchain networks that support the cryptocurrencies.
- The trading fees on Coinbase Pro are lower.
FTX - Best Crypto Exchange in Singapore for Low Trading Fees
FTX is a cryptocurrency and crypto derivatives online exchange. It made a foray into the crypto world by allowing users to trade crypto options and other popular crypto derivatives.
With its trading services, FTX helps retail and institutional traders diversify their crypto trading portfolios. Multiple trading products are available on the platform. FTX services are specifically designed in a way to cater to the needs of professional traders in the market.
Key Features of FTX
- FTX is a cryptocurrency derivative trading platform. Because of its superior trading features and next-generation trading solutions, FTX attracts many consumers.
- The exchange debuted a number of cutting-edge crypto trading solutions in 2020. The platform supports leveraged tokens (45) and offers retail and institutional traders to use a variety of services.
- An OTC desk is included in the platform, which is an important factor for customer service. Trading resources, information materials, market navigators, live chat, and support for more than ten languages are available.
- Mobile apps for Android and iOS are available.
- Fiat currency transactions in the following currencies are offered: USD, EUR, and GBP. Security is enabled on the FTX exchange to protect credit card deposits. Up to 100x leverage is also available.
- FTX makes it simple to convert stablecoins. A single-margin wallet allows users to exchange and trade numerous forms of crypto derivatives.
- Deep liquidity and safeguarded order books are available through FTX’s institutional-grade trading services. It has a large liquidation fund and permits unlimited withdrawals.