6 Best Crypto Exchanges in Singapore: 2022 Guide & Top Picks

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6 Best Crypto Exchange in Singapore: Guide to the Top Crypto Platforms

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A great way to boost your investment portfolio is investing in cryptocurrencies. But, if you’ve tried to get your hands on some crypto by yourself, you’ve probably seen that it’s not a walk in the park.

If you’re going to invest in cryptocurrencies, you’ll probably need a wallet.

Here’s our guide to the best crypto wallets in Singapore.

And then you have crypto exchanges. A crypto exchange works in the same way as a broker with the only exception that – it’s can also be a marketplace.

Simply said, every crypto exchange will have its own features, fees, types of coins, liquidity, and even different price quotes.

This is where our guide can help you.

Below is a list of the best crypto trading platforms in Singapore.

6 Best Crypto Exchanges in Singapore

Best For
Our Pick
Apply Here
Best Overall Crypto Exchange
Crypto.com
Best Crypto Exchange with Lowest Fees
FTX
Best Crypto Exchange for Altcoins
KuCoin
Best Crypto Exchange for Advanced Users
Kraken
Best Crypto Exchange for Withdrawals
Gemini
Best Licensed Crypto Exchange
DBS Vickers

Crypto Trading Platform in Singapore Comparison

But before we get into the specifics, check out this table of the top crypto exchanges in Singapore:

Crypto ExchangeTrading FeesWithdrawal FeesDeposit Fees
Crypto.com

Maker: 0.4% – 0.10%

Taker: 0.10% – 0.16%

Depends on crypto

Free when you’re depositing crypto;

3.5% credit/debit card purchases

FTX

Maker: 0.00% – 0.02%

Taker: 0.02% – 0.07%

S$40 if the amount is below S$6,720Free (excluding the ones charged by your bank)
KuCoin

Maker: 0.01% – 0.10%

Taker: 0.03% – 0.10%

Depends on crypto

Free when you’re depositing crypto;

Fiat depends on how much you deposit

DBS VickersN/AN/AFree (excluding the ones charged by your bank)
Independent ReserveFlat fee model – 0.5%-0.02%

S$25 for a bank transfer; S$1.50 for FAST withdrawals; S$20 if you’re withdrawing over S$2,000;

0.55% on Xfers

0.55% on Xfers;

S$15 bank transfer or free if the deposit is above S$1,000 or is paid with crypto

CoinBase

Maker: 0.00% – 0.50%

Taker: 0.04% – 0.50%

S$13 for bank transfer + bank fees;

3.99% credit/debit card + 7% of transaction

S$33 for bank transfer + bank fees
CoinHakoFlat fee model – 1%S$2 per transaction

Free (excluding the ones charged by your bank);

0.55% on Xfers

Zipmex

Maker: 0.10% – 0.20%

Taker: 0.10% – 0.20%

Depends on the crypto you’re withdrawing;

0.3% on SGD with a min withdrawal of S$10

Free when you’re depositing crypto;

0.3% on SGD

Bitmex

Maker: 0.01%

Taker: 0.025% – 0.050%

Free when you withdraw BitcoinFree when you deposit with Bitcoin or Tether
Kraken

Maker: 0% – 0.20%

Taker: 0% – 0.26%

Depends on cryptoFree (excluding fees from your bank)
Gemini

Maker: 0% – 0.25%

Taker: 0.03% – 0.35%

Free up to 10 withdrawals per monthFree except for debit card (3.49%)

 

1. Best Overall Crypto Exchange – Crypto.com

You don’t even have to be invested in the crypto world to know this name. Crypto.com is one of the leaders in the overall crypto exchange market, supporting over 250 cryptocurrencies and more than 20 fiat currencies.

The fees are fairly low but only if you use cash transfers. The credit/debit card fee might be a little over the top – around 3.5% per transaction, but considering the magnitude of this provider, it’s a small price to pay.

If you want to fund your account, you should check the fee on every crypto – Crypto.com doesn’t have a flat fee but tends to give out different fees depending on the crypto you buying.

Moreover, every cryptocurrency has a minimum you must trade. For Bitcoin, as an example, this minimum is around $1.

Plus, you can have this crypto trading app right with you everywhere thanks to the mobile app. It is compatible with all Android and iOS devices and you can link it to an individual DeFi Wallet.

Although there is no crypto-to-crypto trading, which means that you also have to have a fiat currency on one side of every trade, you can use the DeFi wallet that can get you additional options for swapping tokens.

Some of these options include staking as a way to boost your revenue. You can earn many rewards on your cryptocurrencies by lending them as part of various lending programs.

Last but not least, Crypto.com also trades with non-fungible tokens (NFTs). This is a new market, but they have gained massive popularity, which in turn skyrocketed the prices of these digital goods.

2. Best Crypto Exchange with Lowest Fees – FTX

FTX is a well-known name among crypto traders, with 275 supported cryptocurrencies.

But, more appealing than the long-range cryptocurrencies is the fact that this crypto trading platform has really low fees.

Namely, you don’t have to pay anything for depositing and a withdrawal comes only if you take less than S$6,720.

The brilliant mind behind this exchange is actually Sam Bankman-Fried – the second richest crypto billionaire in the whole world. He founded it in 2019 and in a short period, it became one of the most popular trading platforms.

FTX is more directed towards traders. You have a wide range of derivative products, like options, futures, leveraged tokens, or contracts that are tied to the value of some other real asset.

Note, however, that some of them like the stock tokens or prediction contracts are not open to users in Singapore.

When talking about security, FTX has set a list of safety measures like two-factor authentication, cold wallet for storing crypto, and is audited by Blockchain Consilium.

FTX does accept SGD and the UI is straightforward. Interestingly, it has a native token – FTX Tokens (FTT) and a tiered structure that compels you to buy it.

Namely, if you have an FTT you get trading fees of around 0% to 0.015%. And if you don’t, these go from 0% to 0.07%.

This crypto exchange also urges its users to stake FTT. Some of the benefits they can expect are bonus votes when a new financial instrument should be launched on the platform, bigger percentages on their referral fees, better maker fees, or a bigger percentage of SRM – Serum’s native token.

Institutional traders can use the Over The Counter (OTC) crypto exchange on FTX. This platform can also use the FTX wallet for storing crypto. But the best part here is that there are no additional fees!

The cherry on top is the level of security FTX offers. Namely, this exchange stores the crypto on a separate wallet and urges users to use the two-factor authentication method.

Plus, it is constantly working with researchers to make sure that its products are safe.

3. Best Crypto Exchange for Altcoins – KuCoin

When you have your eye set on several coins, you’d want to find one crypto exchange that has them all.

KuCoin is actually one of those rare crypto exchanges that have more than 400 altcoins. You can find big names like Bitcoin or Ethereum, or some others like Cardano, Tether, XRP, etc.

Plus, KuCoin accepts the world’s top fiat currencies – USD, EUR, GBD, CAD, AUD, CNY, and many more, including SGD.

You will be happy to know that KuCoin takes security very seriously.

It has multilayer encryption and multi-factor authentication. All assets are placed in micro-withdrawal wallets and there are special risk departments in the company that are placed specifically to oversee data operations and their security.

And if you’re looking for even more security, you can use the non-custodial trading option and use your own wallet – facilitated by Arwen – to trade on KuCoin.

This crypto exchange also has an instant crypto-to-crypto exchange that is free of charge. You can swap Bitcoin, Bitcoin Cash, XRP, Litecoin, Ethereum, and Tether.

Another good thing about KuCoin is that it has a very simple and user-friendly interface. Plus there are 3 accounts that you can choose from:

  • Main Account – used for deposit and withdrawal
  • Trading Account – used for buying or selling on the spot market
  • Futures Account – used for buying or selling on the futures market
 

If you want to add more to your income, you can always stake or lend your cryptocurrencies.

KuCoin is the company that introduced soft staking to the market. There is also a so-called KuCoin Shares bonus that allows you to exploit your crypto to create yield.

You would be happy to know that this crypto exchange has big plans in store for its altcoins.

Namely, KuCoin has been working on several new digital currency products like a native blockchain (KuChain), an official testnet for it (Kratos), a full-on ecosystem, and a white-label technology for spot or derivative exchanges (KuCloud).

The first step of this was the introduction of the KuCoin trading bot in 2021. This bot simplifies the trading process for you. Although it currently has only 6 features, the expectancy is for this to quickly change.

4. Best for Advanced Users – Kraken

Kraken is one of the oldest crypto exchanges on the market.

Ever since its beginning, Kraken has worked hard on establishing security, using various methods to provide safety. It builds its services on transparency – everything you’d like to know about their security, products, etc. is shown on the website.

The first thing you should note here is that there are 2 options – Kraken and Kraken Pro. They both offer the same things with the exception of Kraken Pro having more advantages when it comes to fees, trading options, supported crypto, and fiat, etc.

All top cryptocurrencies are available at Kraken, giving you the chance to truly explore the market. Aside from the usual spot trading, seasoned traders can find margin trading and even trade with crypto futures.

Kraken is one of the few crypto traders that actually have these features. As an addition to these, Kraken has a so-called dark pool where people can invest large amounts anonymously.

When you look at the fees, you can notice that they are mainly acceptable. It’s not the cheapest and the withdrawal fees depend on the crypto you’re using. But it is good to know that there are no deposit fees.

95% of the assets in this crypto exchange are kept in cold wallets. But Kraken also makes sure that its hot wallet i.e. its reserves, are always filled with enough resources so that users can withdraw at ease.

Plus, this trading platform offers crypto-to-crypto exchanges and has around 130 trading pairs.

If you want this crypto exchange with you at all times, all you need to do is download one of the apps. It has a basic one and a Kraken Pro – both compatible with iOS and Android devices.

But more importantly, most cryptocurrencies with Kraken allow staking. As I told you, this is something that usually appeals to more advanced crypto traders because of its difficulty. The annual stake interest goes from 0.25% to 20%.

Adding the leverage of up to 5 times for 16 currencies and access to max $500,000 in margin. It’s no wonder that Kraken is the best crypto exchange in Singapore for all experts in this area.

5. Best for Withdrawals – Gemini

If you plan on making several withdrawals a month, then Gemini is your best option. This crypto trading platform allows 10 free withdrawals every month and supports around 40 cryptocurrencies.

Every next one will have a different fee depending on the crypto you’re investing in.

With Gemini, you can easily take out your “winnings” and place them in a wallet of your choice i.e. they won’t be held hostage by this provider’s wallet. So here, you can easily plan your withdrawals.

It’s especially good if you want to hold the crypto longer, but don’t want to pay account fees. Accumulate as much as you want and then freely transfer your crypto anywhere else.

Gemini’s user interface is very straightforward making it easy to use for both beginners and advanced traders. If you’re in the crypto trading game for a long time, then the ActiveTrader platform would be a great option for you.

On this platform, you can experience the full professional trading life. It allows you to place several trading orders, there are many charting tools, and much more. This platform is compatible with your desktop and your phone.

On the other hand, newbies can enjoy a US$10 in Bitcoin bonus. All you have to do is make a trade of at least US$100 in the first 30 days and you get this promotional offer. 

Gemini has a mobile app where all features are available. You can buy and sell crypto anywhere and anytime.

The mobile version can ease your trading process because you can set price alerts, telling the exchange when you want to be notified of the value of a crypto coin.

Another thing that sets Gemini apart is the Gemini Earn option which allows you to earn interest on your crypto. The current rates are 1.5% on Bitcoin and 8% on stablecoins. I have to mention the Gemini Pay option as well which allows you to pay for goods and services in the real world.

Finally, yet importantly, Gemini has a long list of cryptocurrency educational content on its website. You can learn about specific cryptocurrencies, blockchain technology, trading, and more.

6. Best Licensed Crypto Exchange – DBS Vickers

By now you know that DBS Vickers is one of the three licensed crypto exchanges in Singapore. It’s interesting that the largest bank by assets in Southeast Asia decided to jump into the crypto world.

This simply proves how strong the crypto space in Singapore really is.

In 2021, this bank obtained a major payment institution license and opened the DBS Digital Exchange (DDex). Being backed up by DBS itself, it offers trading with cryptocurrencies and security tokens.

The goal that DBS has is to create an ecosystem where it can raise capital by giving out crypto or other digital assets. Large corporations and SMEs can both use this crypto to increase their capital by transferring their assets to the digital world.

DBS Digital Exchange is a members-only bourse which means that, apart from the institutional traders, all DBS services are only available to accredited investors in DBS. They can trade in Bitcoin, Ethereum, Bitcoin Cash, and XRP.

DDex is available round the clock to its customers. It even expects to raise its base by 20%-30% in the next few years. This is totally possible considering that it managed to double the number of users on DDex in just several months.

The best part is that it sets Singapore as its headquarters with plans to open up offices in Malaysia, Indonesia, and Thailand. These certainties are shown with DDex’s forefront actions.

Namely, it listed a Security Token Offering in the form of a digital bond worth S$15 million.

DDex also has a platform for tokenising different types of assets, plus a custodial service to store crypto in.

And the best part is – you can trade in SGD, USD, HKD, and JPY.

What You Need to Know When Choosing the Best Crypto Exchange in Singapore

Next up, it’s time to learn how to choose the best crypto trading platform in Singapore.

Yes, there are many platforms to look into, though not all give the same benefits. Some crypto exchanges will offer various types of this digital money and you may think that you’ve hit the jackpot.

But there are other factors at play, too.

Below are the most important criteria to consider in finding the best crypto exchange in Singapore that fits your needs.

Licenses

An important part of any crypto exchange is a license.

The first license any company that wants to be part of the cryptocurrency sector must have is one recognised by the Commercial Law of Singapore. Considering that crypto exchanges are looking to work with cryptocurrencies they need additional licenses.

By this, I mean licenses under the Payment Services Act (PSA). Namely, under the PSA all providers of Digital Payment Token (DPT) services operating in Singapore must be registered and have a license.

With this act MAS is also able to supervise all payment firms, including crypto exchanges, to make sure that they are in accordance with the anti-money laundering (AML) and counter financing of terrorism (CFT) rules.

PSA gives 3 types of licenses out of which the last 2 are most relevant for crypto exchanges:

  • a money‑changing licence;
  • a standard payment institution licence;
  • a major payment institution licence.

 

For a crypto trading platform to be able to hold a standard payment institution licence or a major payment institution licence, it needs to provide one or more of the following payment services:

  • an account issuance service;
  • a domestic money transfer service;
  • a cross‑border money transfer service;
  • a merchant acquisition service;
  • an e‑money issuance service;
  • a digital payment token service.

 

All other requirements that are needed for a crypto exchange to have these licenses are detailed in Division 1 subsection 5 of PSA.

Currently, there are only 3 crypto exchanges that have a major payment institution licence:

  • DBS Vickers
  • Independent Reserve
  • FOMO Pay

 

Moreover, PSA also allows exemptions from holding a license under this act. Although not licensed, these crypto exchanges are allowed to provide certain payment services.

The exemption lasts a certain period of time or until their application is approved or rejected by MAS.

Moreover, if a crypto exchange works with crypto that is classified as securities, then note that there are also stock exchange licences that it should hold.

Ease of Use

The crypto trading platform you are using must be simple to understand. Any type of investment trading can be confusing at first but with a simple user interface (UI), you will get the hang of it faster.

What most crypto trading apps do is, they offer a simple version of the platform for newbies and a more advanced one for those that have been trading for a while.

And of course, this also brings upon different fees that the crypto platform charges.

The difference between the two is not drastic, but there are slight improvements in the advanced UI.

More precisely, with a simple UI, you usually get to see the basics like volatility, all-time highs, how much you have invested already, and so on.

But, with the advanced UI version, you can see all of this, plus every other detail that might interest any long-time crypto investor.

This even includes the history of the crypto’s change, an overview of all your assets, order history, trading history, and more.

Adaptability

You’d want to have your favourite crypto trading platform next to you at all times. Why?

As you know by now, cryptocurrencies can change drastically by the minute.

And, of course, you can’t always be in front of your computer waiting for that to happen.

This is why many prominent crypto exchanges have mobile apps aside from their desktop version. But, the app shouldn’t be your only indicator that a crypto platform is worth your time.

Some excellent crypto exchanges don’t come with an app, but have optimised their platform to work smoothly from every browser.

Whether you’re using your computer, tablet, phone, or any other device, their services will be always in your immediate reach.

Fees

The question is as old as time - how much will the crypto exchange cost you?

The best crypto platforms will have higher fees than those that are still breaking the market. But, as with everything else, you get what you’ve paid for.

When talking about crypto fees you have 3 main types:

  • Deposit fees - not all platforms have this fee. Those that do, require a small fee which would also depend on the amount that has been deposited.
  • Withdrawal fee - usually, all crypto trading platforms will have this fee. Just like the deposit fee, this one also depends on the amount you are withdrawing.
    That said, some platforms may even have a fixed withdrawal fee.
  • Trading fee - there is no escape from this type of fee - every crypto exchange has it. It’s usually a fixed percentage of the whole amount, but sometimes, it can be a flat rate, too.

 

Number of Available Coins and Flat Currencies

Each crypto trading platform will give you a different number of available crypto that you can trade.

When you are looking for the best crypto trading app in Singapore for yourself, make sure that the coin you want is available.

Also, don’t forget to check how many fiat currencies the platform supports.

I’ve devised this list of some of the top crypto exchanges and the number of coins and fiat currencies they support.

Crypto ExchangeNumber of CoinsNumber of Fiat Currency
Crypto.com250+20+
Gemini50+7
Kraken65+7
DBS Vickers84
Independent Reserve264
FTX2211
KuCoin500+50
CoinBase100+3
CoinHako483
Zipmex20+5
Bitmex1831

Staking

Considering the huge amount of power that normal mining took, crypto people came up with a softer mining type - staking.

Staking is giving up and locking some or all of your crypto assets - for some time - so as to support a blockchain and validate transactions. In return, you get an interest rate that can be given in the same cryptocurrency or another one.

This process is only available to cryptos that use the proof-of-stake model. Ethereum, Algorand, Solana, Polkadot, and a few others are currently accepting this method.

Something similar to staking is soft staking, presented by KuCoin in 2019. The idea is that you don’t lock up your crypto assets for months. Instead, KuCoin removes the minimum lock-up period and gives you full access to your coins while still paying out rewards.

There is also cold staking, which is the same process as staking, only done offline.

Ease of Withdrawals and Deposits

Different crypto platforms will have different withdrawal and deposit fees. These are usually presented as a percentage of the overall amount you’re giving or taking.

But sometimes, crypto exchanges can put a flat fee regardless of the amount you’re withdrawing or depositing.

Nonetheless, you should also take note of where and how you’re withdrawing or depositing your funds.

Are you taking them out/into a cold wallet?

Are you taking them out as cash?

All of these may have their own fees tied to the process.

Fiat Availability

This is one of the first things you should take into consideration. Losing money on conversion rates is pointless. So, here’s a pro tip - look for a crypto exchange that accepts SGD.

I did my homework on this part as well and it resulted in this table below:

Crypto ExchangeAccepts SGD
Crypto.comYes
GeminiYes
KrakenNo
DBS VickersYes
CoinhakoYes
Independent ReserveYes
FTXYes

Safety

Globally, the biggest concern over cryptocurrencies is safety. This digital world is still under legalisation.

This is also the main reason why countries are on the fence when it comes to accepting cryptos as official currencies.

But, in recent years, we can’t dismiss the efforts that have been and are still made in creating safety measures and regulations around cryptocurrencies.

Nonetheless, there are several things you can do to make sure that the crypto exchange of your choice is safe and secure. Here are some points to look out for.

First, research where they store the crypto assets. Hot wallets are great for trading but they are also easier to hack. So if all cryptocurrencies are placed in the hot wallet, the chances of losing them are much higher.

Some crypto exchanges are collaborating with custodian companies that offer cold wallets. As an example, Crypto.com has stored around $75 million in cold storage, making this amount hard to damage or fall into the hands of hackers.

The next thing is the level of security they have. Do they have two-factor authentication? Maybe a multi-factor authentication?

The most prominent crypto exchanges use peer-reviewed software and with the help of several analysis tools, they can make sure that they offer strong security.

Another thing to check is the security of the withdrawals and deposits. Again, do they have an authentication system in place? For instance, Crypto.com uses email verification to whitelist unknown email addresses.

Last but not least, does the crypto exchange have any licenses? Any type of certification is important and only backs up the legitimacy of the crypto exchange.

And most importantly, make sure that they provide this license or additional certifications on the official website.

Transparency plays a big role in making sure a company is secure and safe. If it is open about its work and puts it out for everyone to see, you can rest assured that it is a legit crypto exchange.

Signup Rewards

The best outcome is to find a crypto exchange that offers some rewards upon arrival. These usually include free coins. Unfortunately, signup rewards are given only once - and to new users.

However, there are always other options for rewards.

For instance, some crypto trading apps in Singapore offer free coins after learning a bit about their crypto. You can do this by watching some short videos on their platform.

A good example here is Coinbase and its Coinbase Earn.

Crypto Exchange Safety Tips

Owning crypto is great, but there are a few tips you need to know to evade any potential risks. Below is a list of the top 6 safety points:

  • Keep track of your accounts - make a personal audit. Write down all crypto accounts you have so that you can act fast if there is any suspicious activity.
  • Add a few layers of security - place a 2-factor authentication and restrict your API keys to just a few IP addresses.
  • Spread your money - don’t use the exchange as your sole crypto keeper. Instead, spread around several wallets.
  • Beware of phishing - hackers will always try to get into your account, so make sure that the domain name of the email is legit.
  • Hide your actions - it’s best that you use VPN because it would hide your digital footprint, making hacking less possible.
  • Make sure that the Initial Coin Offering is real - check the founding members and their activities, read the white paper, etc.

 

Final Words

This is it - everything you need to know about cryptocurrencies and finding the best crypto exchange in Singapore.

Cryptocurrency is a growing market and there is no reason why you shouldn’t take part in it. Take your pick from any of the top crypto exchanges and let your income flourish.

Disclaimer: Each article written obtained its information from reliable sources and should be purely used for informational purposes only. The information provided by Dollar Bureau and its affiliated parties is not meant to be construed as financial advice. Dollar Bureau shall not be held liable for any inaccuracies, mistakes, omissions, and losses incurred should you act upon any information listed on this website. We recommend readers to seek financial planning advice from qualified financial advisors. 

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