Best Crypto Exchanges in Asia

Best Cryptocurrency Exchanges in Asia

After an extensive analysis of the 31 exchanges available across Asia, we have identified the top platforms for traders in the region. Our evaluation criteria focused on regulatory compliance with key Asian financial authorities, trading fees, supported digital assets, and local currency deposit options. Below is a comprehensive comparison of the best exchanges for Asian investors.

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1. Bybit

Bybit is the leading cryptocurrency exchange in Asia, with over 40 million registered users in 160 countries globally. It offers a diverse range of 1,400 digital assets for spot and derivatives trading with up to 100x leverage. As a global platform, it provides a multilingual interface that can be used in 22 languages and accepts deposits in 65 fiat currencies.

The exchange supports staking, lending and borrowing services, an NFT marketplace, a demo account, and even a crypto Visa card. Its high liquidity, fast order execution, and innovative features like copy trading, an NFT marketplace, and the AI-powered TradeGPT assistant have made it the top platform for many Asian traders. 

• Fees: Maker fee of 0.02%, taker fee of 0.055% for futures, 0.1% fee for spot trading.
• Supported Assets: Over 1,400 digital assets.
• Regulation & Licensing: Licensed across Asia and available in 160 countries.‍
• Deposit Currencies: HKD, SGD, MYR, JPY, KRW, INR, IDR, THB, PHP and 60 more.

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2. MEXC

MEXC is popular for its exceptional futures trading options, offering up to 200x leverage, making it one of the most aggressive platforms for high-risk traders. It also supports a wide range of 800 trading pairs, enabling users to engage in spot trading, staking, and margin trading with ease. There are 10 million registered users that trade over $5 billion in daily trading volume.

Beyond its powerful leverage offerings, MEXC provides a variety of financial services, including crypto staking and loans, an ETF market, a thriving launchpad for new tokens, and an NFT marketplace. The platform provides a multilingual interface that can be used in 18 languages, including Mandarin, Cantonese, Korean, Japanese and Vietnamese.

• Fees: Maker and taker fees are 0.1 for spot trading.
• Supported Assets: Over 800 cryptocurrencies.
• Regulation & Licensing: Holds multiple licenses across Asia and is available in 200 countries.‍
• Deposit Currencies: VND, KRW, JPY, PHP, IDR, INR THB and 20 more.

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3. Binance

Binance is a leader in the global crypto market, serving over 210 million users in 100 countries. It is favoured by institutional investors due to its extensive liquidity, broad asset selection, and advanced trading features. The platform offers spot and futures trading on 350 digital assets with up to 50x leverage. As the largest exchange globally, it can be used in 40 languages.

It provides a secure environment with multi-layered security measures, such as 2FA, cold wallet storage and a robust risk management system. With its vast ecosystem, Binance supports an extensive range of services like a crypto debit card, P2P trading, an NFT marketplace, copy trading and Binance Launchpad for token sales. 

• Fees: 0.1% for spot trading, a maker fee of 0.01% and a taker fee of 0.06%.
• Supported Assets: More than 350 cryptocurrencies.
• Regulation & Licensing: Binance has registered with the FIU in India, approved by Bappebti in Indonesia, and regulated by the FSA in Japan.‍
• Deposit Currencies: CNY, IDR, INR, JPY, MOP, SGD, VND and 105 more.

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‍4. Gate.io

Gate.io is known for its extensive selection of 2,100 digital assets, providing the most comprehensive crypto selection globally. The exchange provides various trading options, including spot, futures, and margin trading, along with staking and lending services. The platform has a user-friendly interface that can be used in 24 languages.

In addition to its vast asset selection, Gate.io offers innovative products such as a startup feature for new token launches, a vibrant NFT marketplace, and periodic trading competitions with substantial rewards. The platform also prioritizes security, employing cutting-edge technology to protect user assets and data.

• Fees: Spot trading fees are 0.2%; futures trading fees range from 0.015% to 0.05%.
• Supported Assets: Over 2,100 digital assets.
• Regulation & Licensing: Not licensed in most Asian countries but accessible to users.
• Deposit Currencies: MYR, SGD, THB, PHP, INR, IDR and 40 other currencies.

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5. OKX

Founded in Hong Kong, OKX is a popular cryptocurrency exchange, known for its strong DeFi integration, offering users access to Web3 applications. The platform allows users to participate in staking, yield farming, NFT trading and DEXs. It supports 350 digital assets for spot and futures trading, with up to 125x leverage available for high-risk traders.

The ecosystem also includes a comprehensive suite of tools for developers, making it a hub for blockchain innovation. The exchange is designed with advanced security features to protect user assets, such as transparent proof-of-reserves showing assets are held on a 1:1 basis. It is accessible from 150 countries and can be used in 17 languages. 

• Fees: Spot trading fees start from 0.1% with a maker/taker rebate of 0.02%/0.07%.
• Supported Assets: Features 350 cryptocurrencies.
• Regulation & Licensing: OKX is licensed and complies with regulatory standards in Asia.‍
• Deposit Currencies: HKD, SGD, MYR, INR, THB, JPY and 45 more.

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Is Crypto Regulated in Asia?

Yes, cryptocurrency regulation exists across Asia, but the approach varies significantly between countries. While some nations have developed comprehensive frameworks specifically for digital currencies, others apply existing financial laws to regulate their use. Cryptocurrency adoption across Asia is at all-time high figures, with 41% of Indonesian investors and 30% of Singaporean investors holding digital assets in 2024.

In Japan, for example, the Financial Services Agency (FSA) oversees the cryptocurrency sector, ensuring compliance with the Payment Services Act. In South Korea, the Financial Services Commission (FSC) plays a crucial role in overseeing the industry, requiring exchanges to comply with the Special Financial Information Act, which mandates stringent AML and CFT measures. 

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How is Crypto Taxed in Asia?

In Asia, the taxation of cryptocurrency varies widely across different countries, reflecting the region's diverse regulatory approaches. For example, in Japan, digital currencies are treated as property, and profits from trading or selling assets are subject to income tax, with rates that can reach up to 55% depending on the individual's income bracket. 

In Singapore, however, there is currently no capital gains tax on cryptocurrency, making it a favourable environment for long-term investors. Businesses operating in the crypto space may also be liable for Goods and Services Tax (GST) or its equivalent in other countries, depending on the nature of their transactions. 

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How to Buy Bitcoin in Asia

For investors in Asia who are new to cryptocurrency, purchasing Bitcoin through a reputable exchange is a straightforward process. Here’s a simple guide to help you get started:

1. Create an Account: Select a cryptocurrency exchange that operates in your country and supports deposits in your local currency. Sign up for an account and complete the verification process, which typically includes submitting a photo ID and proof of address.
2. Deposit Local Currency: Navigate to the deposit section of your account, choose your local currency, and enter the amount you wish to transfer. Most exchanges offer multiple deposit methods, including bank transfers and credit/debit cards.
3. Choose Bitcoin: Go to the trading section and search for Bitcoin (BTC). You’ll see the current market rate for your local currency. Depending on your strategy, you can place a market order for an immediate purchase or a limit order to buy at your preferred price.
4. Execute the Trade: Once you’re ready, confirm your order by clicking ‘buy’ or ‘trade.’ Review all the details, including the price and any associated fees, before finalising the transaction.

This guide provides a clear and easy-to-follow approach for users in Asia to start buying Bitcoin, covering everything from account creation to making your first trade.

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Bottom Line

In conclusion, Asia's cryptocurrency market is thriving, with various exchanges catering to different needs, from high-leverage futures trading to institutional services. Bybit, MEXC, Binance, Gate.io, and OKX are the top 5 choices, each offering unique features and services that cater to the diverse demands of traders across the region. With regulatory environments evolving and increasing adoption, these platforms provide robust and secure options.