5 Best Crypto Exchanges in Singapore

With the recent crackdown by local authorities on Binance.com, Singaporeans have been scrambling to find alternative crypto exchanges in Singapore to use for their cryptocurrency investing. Given the growing scrutiny on these exchanges, it is more important than ever to select crypto brokerages that are safe, reliable and have the features you need.

After our research, we have shortlisted the best crypto exchanges in Singapore based on several factors. These include safety and security, number of cryptocurrencies, customer support, trading fees, ease of deposits and withdrawals, user friendliness and the special features on their platform.

1. Crypto.com [Best Overall]

Founded in 2016, Crypto.com has the grand mission of democratising finance, and accelerate the world’s transition to cryptocurrency. It prides itself as having a comprehensive suite of crypto offerings. This allows its users to use crypto for their everyday life, ranging from spending, saving, investing to trading.

Crypto.com also has a local office in Singapore.

Safety and security

Crypto.com is the first crypto exchange in the world to obtain the ISO/IEC 27001:2013 certification after rigorous third party security audits. This certification shows the company’s commitment to security and privacy.

It has also taken steps to comply with Singapore regulations, such as the Payment Services Act.

Further, 100% of user’s cryptocurrencies are held offline in cold storage. To achieve this, Crypto.com partners with Ledger, a leader in security and infrastructure solutions for cryptocurrencies and blockchain applications. It has also secured USD 360M in cold storage insurance against damage and theft.

This provides its users with the assurance that they can trade, invest and store their cryptocurrencies securely on the platform.

Number of cryptocurrencies

Crypto.com offers a wide range of over 80 cryptocurrenices on their platform. Not only does it have the popular cryptocurrencies like Bitcoin and Ethereum, it also carries cryptos like Cardano, Solana, Dogecoin, Nano and Polkadot.

Thus, you are likely to be able to find the cryptocurrencies you want on this platform. The full list of such cryptos can be found here.

Trading Fees and Deposits/Withdrawals

Crypto.com offers one of the lowest cryptocurrency trading fees out there, at just 0.4%.

It also provides users with the option of directly depositing SGD into your Fiat Wallet on the platform. This means that you don’t have to convert your SGD into another currency, such as USD or EUR before buying your cryptos.

The platform is also integrated with Xfers, which allows you to send SGD from your local bank accounts to your Crypto.com account, and vice versa.

Customer Support

Crypto.com provides 24/7 customer support, and prioritises your experience on their platform.

User friendliness

Due to the many features that Crypto.com has, some beginners may need some time to get used to the user interface. However, the platform is generally quite easy to use, and users should be able to quickly get the hang of how to navigate it.

Special Features

A key feature that Crypto.com offers is to apply for a prepaid visa card. Using this card, you can spend your crypto as and when you please! Not only that, you can even put your crypto to good use, and earn interest on them! In fact, you can earn up to 12.50% per annum on your crypto assets.

Sign-up promotion

For a limited time only, sign up for an account with Crypto.com using our referral link and get $25 upon completing a successful transaction.

2. Gemini

Next on the list of best crypto exchanges in Singapore is Gemini. Gemini was founded years ago by the the Winklevoss brothers (Tyler and Cameron Winklevoss), who are famous for their previous involvement with Facebook. Gemini strives to help you to effectively buy, sell, and store your bitcoin and cryptocurrency.

Safety and security

Gemini is committed to ensure the safety and security of your crypto assets. It has obtained SOC 1 Type 2 and SOC 2 Type 2 certifications. These certificates evaluate financial operations and reporting controls, as well as security and confidentiality design and controls.

Gemini is also taking steps to ensure compliance with Singapore regulations. It is currently applying for a licence from the MAS to operate legally here.

Number of cryptocurrencies

Gemini has a relatively big selection of cryptocurrencies listed on their platform. It currently has over 40+ cryptocurrencies, including Bitcoin, Ethereum, Dogecoin and so on. While it does not support as many cryptocurrencies as Crypto.com, it still has a wider range of cryptocurrencies compared to most other brokerages.

Trading Fees and Deposits/Withdrawals

Gemini offers competitive trading fee rates, from S$1.50 flat fee to 1.49%, depending on your web order amount. However, if you are willing to use Gemini’s expert level ActiveTrader user interface, you would be able to get a better rate of 0.25%. Although it may be slightly more difficult to navigate the ActiveTrader platform, the savings in fees may make it well worth the effort!

Gemini has also been integrated with Xfers, allowing you to conveniently transact using SGD to buy your favourite cryptocurrencies.

Customer Support

Gemini is continuing to grow its customer support team, and their response times have improved to at most 24 hours. They have also recently re-launched their help centre to better answer common questions that users have.

User friendliness

Gemini is widely regarded as having a simple interface for beginners. It also provides more advanced options for active traders.

Special Features

You can put your crypto to work using Gemini Earn. With this, you can receive up to 8.05% per annum on your cryptocurrencies, including stablecoins. You can also move your cryptocurrency back to your trading account (including interest) any time.

Sign-up promotion

Sign up for an account with Gemini using our referral link and get $10 in Bitcoin when you sign up and trade.

3. Binance.sg

Binance.sg is not to be confused with Binance.com, which is a separate legal entity with its own management team. The firm operates under Binance Asia Services and is unaffected by the recent MAS ban on Binance.com.

Earlier in 2021, Binance Singapore appointed MAS, SGX veteran Richard Teng as CEO.

Safety and security

Binance.sg is built on the same technology developed by Binance.com, one of the world’s largest crypto exchanges in the world.

It is noted that Binance itself has been hacked in the past. However, that represented a small percentage of Binance’s funds and users are usually given a full refund from such attacks.

Number of cryptocurrencies

Binance.sg currently has 8 cryptocurrencies on its platform. These are Bitcoin, Ethereum, Binance Coin, Litecoin, Bitcoin Cash, Ripple, Neo and Chainlink.

Trading Fees and Deposits/Withdrawals

Binance.sg has trading fees of 0.60%, which is considered relatively high. It also supports Xfers so it’s quite convenient and easy to carry out SGD deposits and withdrawals on the platform.

Customer Support

It has 24 hour customer support, where you can submit requests with a description of your issue.

User friendliness

It’s web platform is generally quite easy to use. However, one of the downsides with Binance.sg is that they currently do not have a mobile app. This makes it more difficult for people to trade cryptocurrencies on the go.

Special Features

While Binance.sg has a simple interface, it lacks some functionalities. For example, Binance.sg doesn’t allow for limit orders to be placed. This means that you have less control over the prices at which you are willing to buy/sell cryptocurrencies. This is unlike some other crypto exchanges like Crypto.com and Gemini, which has such functions.

Sign-up promotion

Currently, Binance.sg isn’t running any promotions. However, you can still sign up using this link.

4. Coinhako

Coinhako is another great crypto exchange in Singapore. It was established in 2014 and is one of the oldest crypto exchanges in Singapore. It is headquartered in Singapore, but it’s operations extends to other markets such as Vietnam.

Safety and security

As a homegrown cryptocurrency exchange in Singapore, Coinhako is working to comply with the local laws, including the Payment Services Act. As such, it is taking actions to obtain the necessary licences to continue to smoothly operate in Singapore.

Coinhako stores the majority of their cryptocurrencies in cold storage accounts, with a small portion stored on the exchange. This ensures that most of your crypto will be secure and safe.

Number of cryptocurrencies

It supports a list of over 40 cryptocurrencies. However, it offers different levels of support for the various cryptocurrencies. For some cryptocurrencies like Bitcoin, it allows for services including buying, selling, swapping, sending and receiving. However, for other cryptocurrencies like Cardano, Coinhako only allows for buying, selling and swapping, but not sending and receiving.

Trading Fees and Deposits/Withdrawals

Coinhako has quite high trading fees. They charge a fee of 1.0% for every transaction to buy, sell or swap cryptocurrencies.

Coinhako also has introduced Xfers in 2020, which allows its users to fund their Coinhako wallet directly.

Customer Support

Currently, Coinhako provides support via their ticketing system and email. They aim to respond to your issue within 48 hours. To speed up review, you need to provide sufficient details regarding the issue you are facing and attach screenshots wherever possible.

They do not provide phone, face-to-face or any further alternative channels of support for security reasons.

User friendliness

Coinhako’s platform is user friendly and easy to navigate. In the mobile app, it has clearly separated tabs for your wallet, history of transactions, rewards, news and your account. It allows you to buy, sell, send and receive cryptocurrencies with relative ease.

Special Features

Coinhako gives its users extensive price history information. Most exchanges only allow you to view the historical price of cryptocurrencies for the past few months or up to a year. However, Coinhako enables you to view the price history of cryptocurrencies for all time. This makes it easier for you to do price research without having to use other apps/websites.

Sign-up promotion

There are no promotions for Coinhako currently for new users. However, here’s a link should you want to create an account.

5. Coinbase

Coinbase is the largest US based cryptocurrency exchange by transaction volume. Interestingly, it operates remote-first, and thus does not have an official physical headquarters.

Safety and security

As a US listed company, Coinbase has to comply with stringent US laws and regulations. Therefore, there is likely to be greater oversight and controls in place to protect crypto investors using this exchange.

Coinbase has also taken out crime insurance that protects a percentage of digital assets held in their systems. This further helps to protect your funds against theft and cybersecurity breaches.

Number of cryptocurrencies

Coinbase has over 30 cryptocurrencies on its platform. While not the most extensive, it offers a wider range of cryptos compared to other cryptocurrency exchanges in Singapore such as Binance.sg.

Trading Fees and Deposits/Withdrawals

Trading fees on Coinbase range from 0.5% to 2.5%. This is generally higher than other crypto brokerages. What’s more, it appears that Singaporean users can only fund their crypto accounts using credit or debit card, thereby incurring hefty processing fees. This is not ideal for Singapore users.

Customer Support

Coinbase has been touted as having good customer support. Not only can you reach them via email, Coinbase also has a dedicated phone line you can call to resolve your queries. This really helps if you need to get a hold of someone to get an issue resolved urgently.

User friendliness

Coinbase’s platform is easy to use, even for novices and beginners. They also have tutorials, articles and market updates, which is helpful to its users, especially beginners who are just starting out.

Special Features

A key feature of Coinbase is the availability of the Coinbase visa debit card. This allows you to spend the funds in your Coinbase account balance anywhere in the world. However, this is currently unavailable for Singapore users.

Sign-up promotion

At the moment, Coinbase is not running any promotions. Nevertheless, you can sign up here.

Conclusion

As seen above, there are several factors that you can use to compare the different crypto exchanges in Singapore. In terms of safety and security, Crypto.com, Gemini and Coinbase appear to score higher than their competitors. With regards to trading fees, Crypto.com and Gemini offer reasonably low options. The widest selections of cryptocurrencies can be found on crypto exchanges like Gemini, Coinhako and Crypto.com, with Binance.sg having merely 8. However, in determining the best crypto exchanges in Singapore, it is also important to think about other considerations listed above.

After you’ve made up your mind, you can use the sign up links above to create a new account. However, please note that only Crypto.com and Gemini are currently running sign up promotions.

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