10 Best Crypto Exchanges in Singapore 2024
Best Crypto Exchange in Singapore 2024 - Coinbase
When it comes to investing, there are lots of ways to create a diverse portfolio, with a vast number of asset classes to choose from.
Cryptocurrency is fast becoming a popular investment opportunity that lets investors take advantage of strong security, outsized returns, more private transactions, and an inflation hedge.
Investments in cryptocurrencies have become the most profitable in 2023. And if investors want to start earning, then it’s best to buy cryptocurrency on exchanges.
Here, we discuss some of the best crypto exchanges in Singapore.
Start trading crypto right now with Coinbase!Top 10 Crypto Exchanges in Singapore
Exchange | Best For | Fees | SGD support | Number of Coins |
---|---|---|---|---|
Security |
0.6% |
Yes |
100+ |
|
Optimal Commissions |
0.1% |
Yes |
343 |
|
Education |
0.9% to 1.5% |
No |
120+ |
|
Professional Traders |
0.4% |
Yes |
180+ |
|
A Wide Range of Cryptocurrencies |
0.2% |
Yes |
200+ |
|
Mobile App Users |
0.9% |
Yes |
63 |
|
Beginners |
0.2% |
Yes |
50+ |
|
Bitcoin |
0.075% |
No |
170+ |
|
Attractive Trading Conditions |
0.5% |
Yes |
26 |
|
Long-Term Investment |
0.075% |
No |
18 |
Coinbase - Most Secure Exchange
Coinbase is a popular cryptocurrency exchange in the U.S. and one of the largest in the world. The platform makes it easy to buy, sell, and exchange crypto with a user-friendly interface and useful educational resources.
Trading Conditions
When trading on Coinbase, the minimum deposit and balance you can have on your account is $2. Deposits of cryptocurrency are unlimited. However, limits for deposits of fiat currency vary by payment method. For example, deposits via wires are unlimited. On the other hand, when you deposit fiat currency via ACH transfers or SEPA, there will be a limit that varies by bank.
When it comes to trading, there’s no limit to the number of orders you can place across all markets. However, there’s a limit on the size or amount for each order. For example, there will be a minimum order size and maximum order size in the base currency and quote. Trades are also subject to a price protection point (PPP).
Commissions
Trading fees: Coinbase charges $0.99 to $2.99 based on the amount of the trade. Coinbase Pro uses a maker-taker fee model to determine its trading fees. Fees vary by the current pricing tier you’re in when you place an order. The exchange considers you a taker if you place an order at the market price that gets filled immediately. In this case, the fee will range between 0.05% and 0.60%. On the other hand, if you’re considered the maker (when you place an order that isn’t immediately matched by an existing order), you’ll pay a fee between 0.00% and 0.40%.
Fiat deposit and withdrawal fees: Coinbase doesn’t have deposit or withdrawal fees for an ACH. The exchange’s wire fees are $10 USD (deposits) and $25 USD (withdrawals).
Miner fees: Coinbase charges miner fees to pay the systems that process the transactions and secure the network. The amount of these fees varies.
Available Assets
Coinbase supports trading over 100 cryptocurrencies, and regularly updates its list of available assets. Below are some of the most common cryptocurrencies listed on Coinbase:
Avalanche (AVAX)
USD Coin (USDC)
Polygon (MATIC)
Tether (USDT)
Leverage
Due to changes following guidance from the Commodity Futures Trading Commission (CFTC), Coinbase no longer offers margin trading (trading crypto on leverage) to retail investors
Regulation
Coinbase is regulated in each jurisdiction in which it operates. United States Coinbase is licensed to engage in money transmission in most U.S jurisdictions. However, Coinbase is currently not regulated by the Monetary Authority of Singapore (MAS)
Advantages and Disadvantages
👍 Pros
•Earn crypto by learning about trading
•User-friendly, even for beginners
•Support for a large number of cryptocurrencies
•Lower pricing available with Coinbase Pro
👎 Cons
OKX (OKEx) - Platform With Optimal Commissions
Formerly known as OKEx, OKX is one of the largest crypto spot and derivatives trading exchanges. This Seychelles-based cryptocurrency exchange offers a professional trading platform with advanced functionalities and trading formats, which is ideal for more experienced traders.
Trading Conditions
OKX doesn’t impose restrictions on the maximum amount of input. However, the platform does have limits on the output. These limits depend on the trading level and whether your account has VIP status.
Commissions
OKX’s trading fees are 0.1% for market makers and 0.15% for marker takers. The rate of the4se fees depends on customer tiers, trading markets, and the asset class. The exchange offers lower rates based on the trading volume and customer types.
Available Assets
OKX provides spot and derivatives trading services with hundreds of cryptocurrencies, including:
Bitcoin (BTC)
Bitcoin Cash (BCH)
Ethereum (ETH)
Ripple XRP
OKB
Litecoin (LTC)
EOS
Leverage
OKX provides a leverage of up to 125x, which is notably higher than competitors. You can adjust leverage levels when you sign up for an account.
Regulation
Owned by Ok Group, OKX is registered in Hong Kong and Malta, and is regulated under the Virtual Financial Asset Act (VFAA) under Malta Financial Services.
Advantages and Disadvantages
👍 Pros
•Educational resources
•Hundreds of trading pairs
•High-interest staking opportunities
•Low trading fees of 0.10% or less for most trades
👎 Cons
•Doesn’t disclose fees for deposits and withdrawals
•Complex, multi-tiered fee structure
Kraken - Best Educational Exchange
Kraken is a U.S. based cryptocurrency exchange, and is one of the earliest exchanges, founded in 2011. Kraken makes for a great choice for new and established crypto investors looking for low trading fees and access to a wide array of coins.
Trading Conditions
Minimum order size (volume) for trading: The minimum order size goes by base currency, which is the left currency in each pair
Maximum number of open orders: Kraken limits the number of orders you can have open at any given time (across each trading pair). The maximum number of open orders you can have will depend on your verification level. The verification levels are Starter, Express, Intermediate, and Pro. The highest levels require additional identity verification, including your ID, proof of residence, face photo, know your customer (KYC) questionnaire, and sign-in two-factor authentication (2FA).
Commissions
Kraken charges fees when clients who want to buy cryptocurrencies match with orders from clients who want to sell cryptocurrencies (or vice versa). Fees range from 0% to 0.26% of the total cost (value) of your order. They also depend on the currency pair you’re trading, your 30-day trading volume in USD, and whether your order is maker or taker.
When you trade on Kraken, you’ll also have to pay a minimum trading fee and a margin fee(if using leverage).
Available Assets
Cryptocurrencies available on Kraken include:
Bitcoin (BTC)
Bitcoin Cash (BCH)
Dogecoin (DOGE)
Paxos Gold (PAXG)
Tether (USDT)
Zcash (ZEC)
Nano (NANO)
Monero (XMR)
Dash (DASH)
Dai (DAI)
Currency pairs available on for trading on Kraken are cash-to-crypto pairs, crypto-to-crypto pairs, and cash-to-cash pairs.
Leverage
Kraken offers margin trading to all traders on the platform. The Kraken Trade Engine allows traders to amplify their gains and losses from market swings, offering you the ability to execute more complex, active trading strategies. You can also take advantage of up to 5x leverage, low rollover fees (no more than 0.02%), and high margin limits (access up to $500,000).
Regulation
Kraken complies with legal and regulatory requirements in all jurisdictions where the exchange operates. Kraken is regulated by FinCEN in the U.S., FINTRAC in Canada, AUSTRAC in Australia, and the FSA in Japan.
Advantages and Disadvantages
👍 Pros
•Low non-instant buy fees
•Advanced trading platform
• Massive product selection
•Low-free margin trading
👎 Cons
•Limited options for funding accounts
•Not available everywhere
Crypto.com - Exchange for Professional Traders
Crypto.com is a cryptocurrency exchange app based in Singapore. The platform offers relatively low fees and an extensive list of supported currencies.
Trading Conditions
Crypto.com’s maximum monthly trading amount is a 30-day rolling withdrawal limit of 500,000 USD.
Commissions
Crypto.com operates on a maker-taker fee model. Trading fees on the platform are volume-based. Traders get more discounts as their trading volume increases.
There are no fees associated with depositing crypto to the Crypto.com exchange. The platform, however, charges withdrawal fees based on the type of coin traded.
Available Assets
Popular assets available on the Crypto.com platform include:
Bitcoin (BTC)
Ethereum (ETH)
Cardano (ADA)
Dogecoin (DOGE)
Polkadot (DOT)
The exchange also offers its own coin, CRO. When you hold a significant stake in CRO, you can take advantage of lower trading fees, higher staking interest rates, and higher credit card rewards.
Leverage
Margin traders can get up to 10 times leverage on Crypto.com. You can choose up to 3x, 5x, and 10x leverage for over 50 supported pairs.
Regulation
Crypto is a highly secure and regulated platform with many certifications, and works with regulatory agencies all over the globe.
Advantages and Disadvantages
👍 Pros
•Large selection of crypto assets
• Low fees (if you fund your account with cash transfers)
•Ability to earn interest on crypto holdings at a higher rate than the best high-yield savings accounts
👎 Cons
•Can be difficult to navigate for beginners
•Lack of educational resources
Huobi - Platform With the Largest Selection of Cryptocurrencies
Huobi is a Seychelles-based cryptocurrency exchange that provides secure and convenient trading services for hundreds of digital assets.
Trading Conditions
Minimum and maximum trading amounts on Huobi are based on account verification status and tiers. There are four tiers on the exchange.
Commissions
Huobi charges a 0.2% base fee. However, if you hold Huobi Tokens (HT), you can get a discount on trading fees. These fees decrease the more HT you have in your exchange wallet. If you apply to be a professional trader, maker fees start at 0.0362% and taker fees start at 0.0462%
Available Assets
Some of the most popular digital currencies and tokens you can trade on Huobi are:
Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
Dogecoin (DOGE)
Litecoin (LTC)
Tron (TRX)
Huobi Token (HT)
Huobi USD (HUSD)
Monero (XMR)
Zcash (ZEC)
Leverage
Huobi offers margin trading, allowing you to borrow funds to perform leveraged trading. Therefore, you can open a position that’s larger than the balance of your account, which gives you the ability to maximize your returns.
Regulation
Huobi is regulated in the Republic of Seychelles. The exchange is also regulated by the Financial Conduct Authority (FCA) in the UK.
Advantages and Disadvantages
👍 Pros
👎 Cons
•Lengthy verification process
•Doesn’t support fiat deposits or withdrawals
Gemini - Most Popular Exchange of Singapore
Gemini is a regulated and user-friendly cryptocurrency exchange that’s suitable for both beginners and experienced traders alike. The platform offers top-notch security, its own hot wallet, and a comprehensive support center.
Trading Conditions
Gemini has trading minimums for their supported cryptos, which reflect the smallest amount of a crypto asset you can trade on the platform.
Commissions
Gemini has different fee schedules that depend on the product and usage level:
Mobile fee schedule
Web fee schedule
ActivTrader fee schedule
Custody fee schedule
Transfer fee schedule
How much Gemini charges depends on the order amount as well as the method of withdrawal or transfer.
Available Assets
Cryptos supported on the Gemini exchange include:
Bitcoin (BTC)
Ethereum (ETH)
Filecoin (FIL)
Zcash (ZEC)
Bitcoin Cash (BCH)
Litecoin (LTC)
Dogecoin (DOGE)
Tezos (XTZ)
Solana (SOL)
Gemini also supports stablecoins, ERC-20 tokens, and SPL tokens.
Leverage
Due to regulatory oversight, the Gemini exchange doesn’t offer margin or leveraged trading.
Regulation
Gemini Trust Company, LLC is regulated by the New York State Department of Financial Services (NYDFS). This means the exchange complies with anti-money laundering (AML), cybersecurity, capital reserve, and consumer protection requirements.
Advantages and Disadvantages
👍 Pros
•Wide crypto selection
•Advanced trading platform
•Earn interest on crypto balances
•Low minimum purchases
👎 Cons
•Higher fees than other crypto exchanges
•Expensive fee structure for small trades
Zipmex - Best Platform for Beginners
Zipmex is a cryptocurrency trading platform available in Thailand, Indonesia, Singapore, and Australia. The exchange offers high liquidity and low trading fees.
Trading Conditions
On the Zipmex platform, there’s a minimum for trading. The amount is based on different trading pairs.
Commissions
Zipmex operates on a maker-taker pricing based model, and charges a flat 0.2% flat fee on the buy and sell trade. Fees depend on member level, which include VIP, VIP 1, VIP 2, VIP 3, and VIP 4. The higher the member level, the higher the discount and the lower the fees. You can also get up to a 50% discount on trading fees by locking Zipmex Token ZMT, which is Zipmex’s native token.
Available Assets
Crypto assets supported on the Zipmex platform include:
Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Ripple (XRP)
Bitcoin Cash (BCH)
Tether (USDT)
USD Coin (USDC)
Chainlink (LINK)
C8 Plus (C8P)
Xbullion (GOLD)
Enjin (ENJ)
Omisego (OMG)
Yearn.Finance (YFI)
Maker (MKR)
Swipe (SXP)
Zipmex Token (ZMT)
Compound (COMP)
Sand Token (SAND)
Stellar Lumens (XLM)
Leverage
Currently, Zipmex doesn’t offer margin or leveraged trading.
Regulation
Zipmex is regulated by the Commodity Futures Trading Regulatory Agency (BAPPEBTI) of Indonesia. However, it isn’t regulated by the Monetary Authority of Singapore (MAS).
Advantages and Disadvantages
👍 Pros
• Fairly low commissions
•Profitable investment decisions
•ZMT native token
•Large trading volumes
•Beginner-friendly
👎 Cons
•High deposit fees for USD and SGD
•Doesn’t have stop-limit or stop-market orders
Bitfinex - Best Trading Platform for BTC
Owned and operated by iFinex Inc registered in the British Virgin Islands, Bitfinex is a cryptocurrency exchange that offers a graphical trading experience. This includes advanced charting functionality, allowing you to visualize orders, positions, and price alerts.
Trading Conditions
Bitfinex automatically adjusts the minimum order size for each trading pair each week. The platform’s goal is to keep the minimum order size between $10 and $25 USD equivalent value.
Commissions
Bitfinex charges maker and taker fees. When you use Bitfinex, your trades are also subject to trading fee rates, which differ according to your trading activity in the last 30 days, the amount of UNUS SED LEO (Bitfinex’s native token) you hold on your account, and other factors.
Available Assets
Bitfinex supports over 170 cryptocurrencies on its trading platform. They include Bitcoin, Ethereum, Litecoin, Tether, Terra, Ripple, Solana, and many more.
Leverage
In order to be eligible for margin trading on Bitfinex, your account must be at the Basic Plus Verification level and above. This will allow you to trade with up to 10x leverage through the exchange’s margin funding and peer-to-peer financing features.
Regulation
Although Bitfinex is one of the top exchanges in the world, it isn’t regulated. In fact, the trading platform has a history of regulatory challenges, including multiple fines from the CFTC.
Advantages and Disadvantages
👍 Pros
•High liquidity
•Suitable for experienced traders
•Unlimited withdrawal
•Large selection of cryptocurrencies
👎 Cons
•Not a regulated exchange
•Doesn’t allow debit/credit card or e-wallet deposits
•Lengthy verification process
Independent Reserve - Exchange with Attractive Trading Conditions
Independent Reserve is known to be one of the best and most trusted exchanges in Australia and New Zealand. Because its based in Australia, many of the exchange’s cryptocurrency pairs are calculated in AUD as the main fiat currency. Independent Reserve also has approval to operate in Singapore. The platform supports the main crypto tokens (i.e. BTC, ETH, etc.) and has competitive fees.
Trading Conditions
Independent Reserve doesn’t set minimum deposit limits, and registration on the site is free of charge. After registering on the platform, you can determine how much money you want to invest and in what way to enter to make transactions.
Commissions
Independent Reserve’s trading fees are based on a tiered level. The more you trade on the platform, the lower your fees will be. So, the most you’ll pay is 0.50%, and the lowest is 0.10%.
Available Assets
Independent Reserve supports a wide range of cryptocurrencies, including:
Bitcoin
Ethereum
Ripple
Cardano
Aave
Basic Attention Token
Bitcoin Cash
Compound
Dai
Dogecoin
Polkadot
EOS
Leverage
The Independent Reserve exchange doesn’t offer leveraged trading.
Regulation
Independent Reserve is a registered Australian company. The platform recently received approval for a Major Payment Institution License in Singapore.
Advantages and Disadvantages
👍 Pros
•Funds are held safely in cold storage
•Reasonable fees
•Secured exchange
•Supports fiat currencies
👎 Cons
•Interface isn’t beginner-friendly
•Charges deposit fees when depositing lower amounts
BitMEX - Best Platform for Long-term Investment
BitMEX is a peer-to-peer (P2P) crypto products trading platform. It’s one of the world’s largest and oldest crypto trading companies that allows traders to buy and sell futures and perpetuals on a range of crypto assets.
Trading Conditions
The minimum amount to trade on BitMEX varies from product to product, depending on the initial margin. Trading rules also include protection on market and limit orders as well as quote value ratio (QVR) threshold, which aims to discourage strategies that submit quotes to the market without the intent to trade.
Commissions
BitMEX operates on a standard trading fee structure across all products. The platform’s maker rebate is 0.01% and its taker fee is 0.075%.
Available Assets
Cryptocurrencies available on BitMEX include:
Bitcoin (XBT)
Ethereum (ETH)
Dogecoin (DOGE)
Litecoin (LTC)
Bitcoin Cash (BCH)
Cardano (ADA)
Polkadot (DOT)
Leverage
BitMEX offers up to 100x leverage on some of its products, which brings the potential for accelerated profits.
Regulation
BitMEX is owned and operated by HDR Global Trading Limited, which is registered in Seychelles.
Advantages and Disadvantages
👍 Pros
•High trade value and liquidity level
•Easy registration
•Margin trading with leverage up to 1:100
👎 Cons
•Funds deposits and withdrawals are only in Bitcoin
•Trading terms may be unfamiliar to some users
Is Crypto Legal in Singapore?
Crypto exchanges and trading are legal in Singapore. In fact, Singapore was one of the first countries to embrace blockchain and distributed ledger technology (DLT).
How to Choose a Singaporean Crypto Exchange
When it comes to choosing the best cryptocurrency exchange, you should consider a number of factors. These include:
Security
Technology
Legal aspects
Transparency
Liquidity
Fees
User experience
Where to Store Crypto in Singapore
In Singapore, you can store cryptocurrencies in multiple places. For example, you can store your digital assets on the balance of an exchange account. This means your crypto will be stored on a custodial wallet in which your chosen exchange will control.
However, if you want to store your crypto yourself, then you can transfer it to your own hot or cold wallet. A hot wallet is a crypto wallet that’s always connected to the internet, while a cold wallet is a digital wallet that stores crypto offline.
Where Can I Use Crypto in Singapore?
Cryptocurrency is fast becoming an alternative way to pay for consumer goods and services. If you don’t just want to use cryptocurrency strictly as an investment tool, you can also use it at some car dealerships, pay for technology and ecommerce products, purchase jewelry, subscribe to media outlets, and more.
Is Crypto a Good Investment?
Cryptocurrency can be a good investment for you if you’re an investor who doesn’t mind high risks that can pay off into large returns. So, before investing in cryptocurrency, it’s important to understand the risks:
Crypto exchanges are vulnerable to cyber attacks
There are strict regulations in some jurisdictions, while others have none at all
Cryptocurrencies are vulnerable to market volatility
However, despite the risks, investing in cryptocurrencies can be highly rewarding. Benefits of investing in crypto include:
Portfolio diversification
Inflation protection
Improved liquidity
Leveraged exposure
Methodology for compiling our ratings of crypto exchanges
Traders Union applies a rigorous methodology to evaluate crypto exchanges using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Exchanges are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Exchanges are assessed based on the variety, quality, and features of platforms offered to clients.
Extra services. Unique value propositions and useful features that provide traders with more options for yield generation.
Other factors like brand popularity, client support, and educational resources are also evaluated.
Summary
Finding the right crypto exchange in Singapore is all about considering a wide range of factors, including commissions, reviews, functionality, platform capabilities, and more. You should also look at whether a crypto exchange is beginner-friendly or is best for experienced traders.
The best crypto exchange for you should also have expansive features that give you plenty of options when trading as well as strong security to ensure your funds are protected and safe. Of each of these crypto exchanges in Singapore, the best one for you will depend on your preferences, experience level, and ideal features and fee structures.
FAQs
How do you buy Bitcoin in Singapore?
To buy Bitcoin in Singapore:
Choose a cryptocurrency exchange.
Create an account.
Upload your know your customer (KYC) documents.
Fund your account.
Buy Bitcoin on your chosen exchange.
You can store your BTC in a hot wallet, cold wallet, or on a crypto exchange.
Is crypto trading legal in Singapore?
Yes, crypto trading is legal in Singapre. In fact, Singapore is one of the most crypto-friendly countries, especially compared to some its regional neighbors.
What’s the best crypto exchange in Singapore for beginners?
Coinbase is likely the best choice for crypto investing beginners in Singapore. That’s because it’s a user-friendly platform and offers learning programs for novice traders.
What crypto exchange offers the best trading fees?
BitMEX, OKX, and Bifinex offer similar trading fees that are the lowest out of all Singapore crypto exchanges discussed in this review.
Team that worked on the article
Knows about
Trading strategies, technical analysis, Forex, stock market, long-term investing
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Experience
Andrey's passion for finance began in 2009, and he has since accumulated extensive experience in trading and investing across various asset classes, including stocks, Forex, and cryptocurrencies.
He has spent over 15 years managing his own capital and working with financial portals, financial institutions, and IT companies, as a financial writer and analyst, further refining his investment expertise.
He is the author of several training courses on investing and trading in financial markets. Led multiple FX/Stocks/Crypto webinar educational presentations. Authored hundreds of articles on the global economy, stock, cryptocurrency, and Forex markets, along with trading strategies. He has also penned hundreds of professional reviews of financial firms.
Throughout his journey, Andrey has been heavily influenced by the works of renowned authors and investors like Benjamin Graham, Ray Dalio, Robert Shiller, and Nassim Taleb.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!