The Best 5 Crypto Exchanges to Use in Singapore in 2024

Singapore is one of the leading crypto hubs in the world. If you live there, it is a great idea for you to invest in crypto, but how do you go about it? The first step in crypto investing is to buy some crypto assets you wish to trade or hold.

If you’re reading this article, chances are you’re already considering this, but you need a crypto exchange to commence your journey. There are many other ways to buy crypto assets, but the use of a crypto exchange is one of the safest ways.

Choosing a crypto exchange can be challenging though, because there’s a lot to put into consideration. However, we’ve made that easy for you. In this guide, we have named five of the best crypto platforms you can use in SIngapore to buy your assets and commence your journey.

Crypto.com

Crypto.com is a popular name in the crypto trading space. It is a highly regulated crypto trading platform that seeks to give users the best trading experience. The platform is top on this list because it has its headquarters in Singapore.

Being a simple platform to use, it is suitable for all types of users, and you can use it from any part of the world where it is allied. There are over 80 million people using Crypto.com currently, which attests to its suitability.

You’ll also enjoy modest fees on this exchange and if you’re a fan of staking assets to earn rewards this will be a perfect companion because its rewards users handsomely for staking assets.

Kraken

Kraken is reputed as the most secure crypto exchange in the world, and it is one of the top choices in Singapore. The exchange has a simple user interface, and boasts of over 200 supported crypto assets.

Kraken also charges very low taker and maker fees, making it a great platform to trade your assets. You can also stake assets on Kraken and earn passive income with high rewards of up to 25%.

Being a global exchange, the platform is tailored to cater to both retail and institutional investors. The platform is licensed by the Monetary Authority of Singapore (MAS), giving it more credibility. However, you can only deposit USD, not SGD.

Gemini

Gemini is another reliable platform to use in Singapore. An American exchange by origin, the exchange has military-grade security that makes it a trusted choice among users the world over. It is one of the few crypto exchanges that have met the stringent SOC 1 Type 2 and SOC 2 Type 2 standards due to its high security and data privacy practices.

It is also licensed by MAS, making it a safe choice for Singaporeans. There are over 100 crypto assets listed on this platform for trading and staking. It also has a non-fungible token (NFT) marketplace, Nifty Gateway which is a plus for those interested in trading NFTs.

Its fees are however higher than those of the other platforms listed. Deposit methods include FAST Bank Transfers, Visa/MasterCard, and Bank Wire, with zero deposit and withdrawal fees for SGD deposits.

Independent Reserve

If you’re not into small altcoins but rather interested only in top assets like Bitcoin, Ethereum etc, this platform is for you. It has only 20 assets listed from the top ones. It was the first crypto exchange to be licensed by MAS, giving it a great reputation.

Available SGD deposit methods include FAST/MEPS Bank Transfer and Bank Wire. Trading fees on this exchange is also quite high, at 0.5%, but reduces with increasing volume.

Coinhako

Coinhako is reputed as Singapore’s first cryptocurrency exchange. It is user-friendly, with payment methods like PayNow, FAST transfers and credit/debit cards which allow users to easily deposit fiat money on the exchange.

One of its distinctive features is its OTC trading platform which charges zero fees for trading volume exceeding 200,000 SGD. There are over 100 crypto assets listed on the exchange which you can buy and trade.