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Best Crypto Exchanges Singapore
Luis Clark
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 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)
Pros
- Supports 4 fiat currencies (AUD, USD, NZD, SGD)
- AutoTrader
- 97% of crypto assets are held in cold storage
- Crypto assets insured through Lloyd’s of London
- For the majority of users, account verification is instantaneous.
- Apps for Android and iOS are available.
- OTC Trading
- Supports 29 cryptocurrencies
- Available in Singapore, Australia, and New Zealand
Cons
- Limited coin offering
- Trading commissions are higher than the industry average
- Lower trading fees are locked behind a monthly trading volume system
Gemini - Best Crypto Exchange for Withdrawals
Gemini, a secure environment for individuals, traders, and institutions, is widely recognized as a popular cryptocurrency exchange, facilitating the seamless buying, selling, and storage of Bitcoin and various other cryptocurrencies.
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.
Pros
- It has a large number of cryptocurrencies to choose from
- Minimum order amounts are extremely low
- Digital assets are covered by insurance
- For specific coins, it provides crypto-to-crypto trading
- Gemini Pay enables cryptocurrency purchases at over 30,000 merchants
- Gemini Earn pays up to 7.4% APY
Cons
- Lengthy registration process
- When traffic is exceptionally high, it frequently goes offline
- A limited number of funding options are available
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
Pros
- Wide range of available cryptocurrencies
- High focus on security
- One of the oldest cryptocurrency exchanges
Cons
- It has no personal digital wallet. Funds go to a corporate wallet
- Less direction for the starters due to a focus on experienced traders
- High Fees
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 Security
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.
Coinbase Fees
- 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.
Pros
- Wide selection of cryptocurrencies
- Low account minimum
- Convenient user experience
Cons
- Complicated trading fees structure
- You'll be required to switch to a different Coinbase platform for lower trading fees
- Poor customer service
- High deposit fees
Kucoin - Best Crypto Exchange in Singapore for Altcoins
KuCoin cryptocurrency exchange is well-known for offering a wide range of cryptocurrency pairs and providing a straightforward and user-friendly interface. There are 3 accounts to utilise: Main Account – for deposit and withdrawal; Trading Account – for buying or selling on the spot market; Futures Account – for buying or selling on the futures market. KuCoin is sometimes referred to as “The People’s Exchange” and has a stellar reputation in the cryptocurrency community, it is one of the best crypto exchanges.
Key Feature of Kucoin
- Using a core trading engine that can process millions of transactions at once, you can buy and sell with deep liquidity. The white label cryptocurrency exchange lets you trade the most popular cryptocurrencies and adds new and emerging digital assets on a regular basis, allowing you to build a varied crypto portfolio.
- The exchange has its own native token, KuCoin Shares (KCS), that rewards you for holding it daily. It has cheaper transaction and withdrawal costs than other currencies. KCS holders are automatically eligible for special awards and promotions.
- The crypto trading platform offers deep liquidity, which allows for faster transaction processing.
- An advanced application programming interface (API) feature allows you to tailor the system to suit your needs. It helps you configure the backend code to customize capabilities such as custom reporting, automation, and unique workflows.
We summarised all the Kucoin key features, but we also made an in-depth Kucoin Singapore Review page that you can check out.
Kucoin Security
KuCoin is a decentralized crypto exchange. While this is the essence of transparency made possible by blockchain technology, security is further reinforced by various safety mechanisms. To protect the user account, KuCoin uses 2-factor authentication and strong SSL encryption to protect the traders’ personal information.
KuCoin, renowned for its cutting-edge user interface, boasts an array of robust security measures. To ensure a seamless fund withdrawal experience, meeting the stringent KYC requirements is paramount, making it imperative to undergo the KYC verification process via KuCoin’s highly recommended platform.
Kucoin Fees
- Trading Fees – 0.1%
- Deposit Fees – None
- Withdrawal Fees – Fees vary
- Settlement Fees – 0.025%
Pros
- KuCoin Shares allow users to invest in the success of KuCoin
- Users can trade without depositing cash into a third-party wallet, thanks to Arwen's integration
- KuCoin's commitment to rapidly releasing new, creative crypto assets means that customers have a huge range of trading pairs to choose from
Cons
- Because it is a crypto-only exchange, it can be tough to use for newbies
- KuCoin does not have the same trade volumes as some more well-known exchanges
Zipmex - Best Crypto Exchanges in Singapore for Staking
Zipmex is one of the most well-known digital currency exchanges and the best crypto platform. It helps investors maximize their returns by providing a wide selection of currency options, great liquidity, and a world-class experience. The platform offers customers a variety of advanced investing capabilities as well as a highly secure protocol that streamlines the trading process for institutional and retail traders. Customers can invest in different crypto commodities such as BTC, ETH, COMP, and many others. The Zipmex Token (ZMT), a native token of the Exchange, is also available.
Key Features of Zipmex
- The platform uses an automated algorithm to calculate the most accurate and reliable pricing for buying and selling digital assets in a deep-liquidity environment.
- Numerous payment methods are available, which allows traders to invest in the platform in their own way.
- Instant trade is available at a modest trading fee of 0.2 percent for each transaction.
- Another advantage of the platform is that it allows users to trade, deposit, and withdraw money from Zipmex to bank accounts instantaneously. Furthermore, instantaneously converting crypto assets to fiat currency has never been easier.
- Customers on IOS and Android can use a mobile-friendly web browser and a modified app provided by the platform.
- Another unique feature of Zipmex is the ability to check the status of Zipcrew using ZMT tokens. This will considerably boost one’s earnings. In addition, the customer has the opportunity to earn up to 11% APY on their stored assets.
We summarised all the Zipmex key features, but we also made an in-depth Zipmex Singapore review page that you can check out.
Zipmex Security
Zipmex uses cold and hot storage to keep assets secure while maintaining high liquidity. To utilize this platform, users use 2-Factor Authentication and facial recognition software technologies.
Zipmex is one of the few crypto exchanges that is completely insured. Zipmex has partnered with BitGo to provide the best digital wallet security with up to a US$100M insurance policy. All crypto assets are guaranteed for up to $100 million USD in the event of a hack or other security breach. Furthermore, in all supported countries, including Australia, Indonesia, Singapore, and Thailand, Zipmex conforms with Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.
Zipmex Fees
- Maker’s Fees: From 0.20% to 0.10% (based on ZMT holdings)
- Taker’s Fees: From 0.20% to 0.10% (based on ZMT holdings)
- Deposit Fees (Crypto): Free
- Withdrawal Fees (Crypto): Depends on the crypto (for Bitcoin 0.0002 BTC)
- Deposit Fees: Free
- Withdrawal Fees: $5
- Instant Trading: 0.2%
Pros
- Available in Australia, Indonesia, Singapore, and Thailand
- Low trading fees (0.2%-0.1%)
- Insured for up to $100 million USD
- App available on Android and iOS
- Supports 41 cryptocurrencies
- Accepts AUD, USD, and SGD
- ZipUp! – Staking Platform
- ZipLaunch – ICO Launch Pad
- ZipLock – Staking Platform with a lock-in period
- Instant trades, withdrawals, and deposits to your USD/SGD bank account
Cons
- Investors are compelled to acquire ZMT to get the best benefits
- Customer support is not available on the phone
- No high-volume trading discounts
- Limited crypto offerings
Coinhako - Most User-Friendly Crypto Exchanges in Singapore
Based in Singapore, Coinhako is an exceptional crypto exchange empowering crypto enthusiasts to embark on their trading journey with utmost confidence. By offering a reliable and fortified platform, it ensures the safety and security of investors’ preferred coins and tokens. Known for its user-friendly interface and simplicity, this exchange serves as an ideal gateway for newcomers venturing into the thrilling realm of cryptocurrencies. While it may not boast the widest range of cryptocurrency options or the most competitive trading fees, Coinhako excels in its commitment to providing a seamless and accessible experience for all traders.
Key Features of Coinhako
- Provides a user-friendly experience for buying and trading in crypto, even for newbies.
- No deposit fees.
- It has a long track record of gaining and sustaining user trust.
- Allows transactions in Singapore Dollars.
- It can be accessed using the Coinhako smartphone app.
- Coinhako supports Bitcoin and over thirty other cryptocurrencies, with more being introduced ocassionally.
- Coinhako supports Visa or Mastercard credit or debit cards issued in Singapore.
We summarised all the Coinhako key features, but we also made an in-depth Coinhako Review page that you can check out.
Coinhako Security
Coinhako ensures that security features such as 2-factor authentication (2FA) and email verification are available when logging in and sending crypto to another wallet. Coinhako uses cold storage to store digital assets (at least 99% of its customers’ cryptocurrency in a cold wallet at all times). This means it’s offline and much better protected from hackers. Even if someone does manage to electronically break into Coinhako’s systems, they will only be able to access a small fraction of users’ funds.
Some of Singapore’s top cybersecurity consultants work at Coinhako and use their experience to keep the service and its users secure. Unauthorized or fraudulent transactions can be detected, and there’s a chance of getting your money back.
Coinhako Fees
- Platform Fees – 1%
- Credit or Debit Card – 1% platform fee + 3% card fee
- GrabPay – 2.5% platform fee
Pros
- Quick, simple, and easy to use
- Competitive fees and rates
- Able to set and customise price alerts
- Earn reward points from daily logins and trading activities
- Equipped with advanced security features
Cons
- No limit orders
- Platform fee of 1% for buying, selling, or swapping cryptocurrencies
- Bound by the restrictions, such as transfer limits, from MatchMove in addition to any Coinhako restrictions
AscendEX - Best for Retail and Institutional Investors
AscendEX is a global crypto platform where users may buy, sell, and trade cryptocurrencies. AscendEX is a crypto exchange in Singapore that offers over 300 crypto trading pairs and 200 individual cryptocurrencies, including Bitcoin, Ethereum, and other major altcoins. Users can also earn interest on staked crypto, earn tokens through DeFi yield farming, and save money on trading fees and other perks by utilizing AscendEX’s native token, ASD.
With a simple order form for buying, AscendEX is geared for both novice and experienced traders. A sophisticated trading system with hundreds of charting tools and indicators is available. AscendEX also offers crypto futures trading and a margin trading system with up to 25x leverage. Overall, AscendEX provides a diverse set of features and reasonable costs to traders all around the world.
Key Features of AscendEX
- Low trading commissions (0.10% or less)
- Offers over 300 crypto trading pairings and 200 different cryptos to buy, trade, and sell.
- The CopyTrader function allows users to copy the trades of selected traders.
- Formerly known as Bitmax Coin (MTMX), the newly launched AscendEX coin (ADS) offers a host of discounts and features for users. Users holding and staking ASD can earn up to 9% interest on ADS. There are discounts on trading fees as well, with up to 80% fee discount for users holding 1.5 million ASD coins (or more).
- AscendEX offers staking of cryptocurrencies to earn interest.
- DeFi yield farming is available on the AscendEX platform, depositing user assets into DeFi interest-bearing protocols such as lending, liquidity pools, and derivatives products.
- Excellent security, including the ability to store assets in offline cold wallets.
- A smartphone app with a lot of features (iOS and Android)
We summarised all the AscendEX key features, but we also made an in-depth AscendEX Singapore review page that you can check out.
AscendEX Security
AscendEX uses cutting-edge security features such as cold storage of most assets, 2-factor authentication (2FA), and end-to-end encryption of user data. It also necessitates dual executive control to gain access to any funds held. AscendEX maintains an insurance fund, with a portion of its principal balance sheet set aside to cover any theft-related client losses.
In December of 2021, AscendEX experienced a huge exchange attack, losing approximately $70 million in funds from its firm’s hot wallet. Overall, AscendEX is a fairly secure platform, and even though it was recently hacked, the insurance fund and quick response safeguarded customer funds.
AscendEX Fees
- Trading Fee – 0.00% – 0.20%
- Deposit Fee – Free crypto deposits, fiat deposits are not allowed, but purchases are made through debit/credit card or third-party
- Bank card payment (credit/debit card) – 5%
- Fees for Withdrawal – Varies by cryptocurrency.
Pros
- Low trading fees with a maximum of 0.1%
- Earning interest in multiple ways
- Advanced trading platform
- Large selection of supported cryptocurrencies
Cons
- Unable to deposit fiat currency
- Experienced a security breach in 2021
Wirex - Best Crypto Exchange for Customer Service
Wirex is a cryptocurrency exchange and digital payment platform that aims to provide the same services as a traditional bank (debit cards, currency exchanges, etc.). It provides borderless exchanges at competitive rates, as well as the option to buy, store, and exchange cryptocurrencies and earn its native token when using its crypto debit card.
When compared to industry competitors, its trading features are severely limited, but, as a new-age personal banking service, it provides an intriguing option to store and move your crypto assets globally.
Key Features of Wirex
- The Wirex website includes a user-friendly interface and a simple authentication process.
- Both fiat and cryptocurrency deposits, withdrawals, spending, and exchange are supported.
- Apps for both iOS and Android devices are available.
- Competitive pricing without exorbitant exchange fees.
- Easy top-up
- Zero fees for holding a Standard account.
- Smooth ATM withdrawals
- Ensures the security of Wirex customers’ funds and data.
We summarised all the Wirex key features, but we also made an in-depth Wirex Singapore review page that you can check out.
Wirex Security
Wirex is PCI-DSS level 1 certified, ensuring the highest level of security available. It has three-dimensional secure enrolling, which ensures that everyone is safe both online and offline. Fort Wirex is a multi-signature cold storage vault for crypto and traditional currencies from virtual Fort Knox.
Wirex uses two-factor authentication to give an extra degree of security, and all private customer data is encrypted with TLS and 265-bit AES. Furthermore, Wirex wallets employ multi-signature technology, ensuring that no funds are transferred without the signatures of all parties involved. To add to its credentials, the exchange applied for an e-money license in Singapore.
Wirex Fees
- Commission-free trading
- Unlimited cryptocurrency withdrawals
- Free ATM withdrawals up to $400 (2% after)
- 1% fee on crypto top-ups
Pros
- Reasonable fees when compared with competitors
- User-friendly interface that is simple and straightforward
- Regulated by the FCA, MAS, and the Bank of Lithuania
- Responsive customer support
- Extremely international as it is available to over 130 countries and offers 10 fiat options
Cons
- No advanced trading tools available
- A poor record and reputation for reliable cryptocurrency withdrawals
- A limited range of cryptocurrencies offered
| Exchange | Number of Coins | Supported Payments | Trading Fees | BTC & ETH Purchasable with SGD? |
|---|---|---|---|---|
| Independent Reserve | 27 | Electronic funds transfer, PayID/Osko, SWIFT | 0.5% | Yes |
| Gemini | 70 | ACH, Wire transfer, Debit card, Bank wire | 0.9% | Yes |
| Kraken | 100+ | Cash balance, Debit/Credit Card, ACH online banking. | 0.6% | No |
| Coinbase | 100+ | Debit/credit Card, Bank wire | Fee varies depending on the value of your purchase | Yes |
| FTX | 180+ | Debit/Credit Card, Bank transfer, Bank wire | 0.05% to 20% | Yes |
| Kucoin | 200 | Visa and Mastercard Debit/Credit Card | 0.1% | Yes |
| Zipmex | 100+ | Permata and Mandiri virtual accounts and e-wallet options like OVO, ShopeePay and DANA. | 0.20% | Yes |
| Coinhako | 12 | Bank transfer, Credit/Debit cards, GrabPay | 1% | Yes |
| Ascendax | 70+ | Debit/Credit card | 0.10% | Yes |
| Wirex | 25 | Debit/Credit Card, e-wallets. | No Trading Fees | Yes |
What is a Crypto Exchange?
Exchanges that facilitate the trade of cryptocurrencies for other assets, such as digital and fiat assets/currencies, are known as crypto exchanges. Cryptocurrency exchanges, in effect, function as a middleman between buyers and sellers, earning money through commissions and transaction fees.
How to Choose the Right Exchange?
Keep in mind that your experiences may vary when choosing the best Bitcoin exchanges. Watch out for altcoins, trading pairings, and other services like margin trading or over-the-counter (OTC) transactions.
Once you find an exchange that meets your basic requirements, check these other aspects as well, such as security, transparency, technology, legal aspects, fees, and user experience.
Final Thoughts
To begin your cryptocurrency trading, there are a number of crypto exchanges in Singapore with high trading volume records. However, choosing the right one from among the many Singaporean crypto exchanges will pay off. Make an informed decision when you review the various exchange listings and associated trading fees.
The best exchange in Singapore gives you a safe and secure way to pay and buy/sell cryptocurrencies without involving any third-party financial institutions. To score valuable assets, choose the right site that is authorized under Singapore’s monetary act.
Independent Reserve is one of the top exchanges for cryptocurrency that safeguard your assets along with your personal information from cybercriminals, and it supports automated trading tools like AutoTrading and AutoBuy. With low fees, the exchange offers value for money to beginners and experienced investors alike.
FAQ
Most frequent questions and answers
The best crypto exchange for trading is Independent Reserve, which is the first retail exchange to receive full licensing approval from MAS (Monetary Authority of Singapore).
FTX is one of the top exchanges in Singapore, with reasonable fees when it comes to crypto trading.
Both Coinbase and Gemini are solid exchanges. Coinbase may have the best reputation, ease of use, and coin selection and has been around for a lot longer than Gemini, but Gemini is still a solid option that is rapidly gaining popularity.
Coinbase fees are so high because they are a retail exchange that primarily onboard new and inexperienced investors.
Cryptocurrencies can be bought and traded on crypto exchanges, which display price variations. The simplicity with which cryptocurrency can be transferred is one of the reasons for its rapid growth. No third party or a mediator is required to exchange cryptocurrency between two parties. Despite market volatility, the cryptocurrency market is set to grow. Cryptocurrencies use blockchain technology, which is touted for its security and privacy.
Trading and owning cryptocurrencies in Singapore is legal. However, one has to keep in mind that Bitcoin and other virtual currencies are not considered legal tender. It can be lawfully bought in Singapore from a Singaporean Bitcoin exchange. It can also be purchased from Bitcoin ATMs, and even some institutions because they are classified as property.
Most crypto exchanges in Singapore are operating under exemptions whilst MAS transitions to a formalized licensing framework under the Payment Services Act. The officially licensed crypto exchanges in Singapore as of May 2022 are DBS Vickers, Independent Reserve, and Coinhako.
Coinbase is a global exchange that was granted a 6-month digital payment token service in July 2020. The provisional license allows Coinbase to continue its operation temporarily under the new Payment Services Act
The fee structure of a crypto exchange is important since it lets you know what you’re getting into before you trade. You need to ensure the platform you choose has no hidden transaction costs or inactivity fees. Fees can eat up potential profits.
A VASP is a platform used to exchange, buy, sell, or otherwise interact with the cryptocurrency market. In other words, VASPs are crypto platforms — or at least the framework and theory behind a digital currency exchange.
Coinbase is our pick for the best exchange for beginners. It offers a large number of supported cryptocurrencies and a high level of security though it comes with higher fees than most other exchanges.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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