Top Crypto Exchanges in Asia

Our team has conducted an analysis of more than 50 Cryptocurrency trading platforms to identify the top options for Asian investors. Our assessment included critical factors such as platform security, supported tokens, user-friendliness, deposit methods, fees, and more. Continue reading to see our detailed breakdown of the five Best Crypto Exchanges in Asia.

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‍1. Bybit

Bybit is a Cryptocurrency exchange that was founded in 2018 and is headquartered in Singapore. It's the most popular option for Asian investors as it is available to use in over 180 countries globally. The platform is known for being a non-KYC exchange (no identity verification required), its user-friendly interface, high liquidity, and advanced trading tools. One of Bybit's unique features is its futures contracts which are available to trade with up to 100x leverage.

• Fees: Free deposits and withdrawals and a 0.1% fee on spot trading.
• Supported Assets: 400+ Cryptocurrencies.
• Regulation & Licensing: Not regulated by any government authority (hence no KYC requirements).
• Customer Support Options: 24/7 customer support via live chat, email, and social media including Twitter, Telegram & Discord.
• Available Fiat Currencies: JPY, INR, HKD, TWD, THB, SGD, VND, IDR, MYR & 10+ more.

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2. Uphold

Uphold is a US-based Cryptocurrency exchange that was founded in 2013. It has a user-friendly interface, and the platform is designed to be accessible to both beginners and experienced traders. Uphold is widely regarded to be one of the most secure digital asset exchanges in the world as it provides regularly audited proof of reserves that shows users' assets are always held 1:1. However, it does not support bank transfers to Asian countries and only accepts card deposits.

• Fees: Deposits and withdrawals are free, except card deposits which incur a 3.99% fee. Zero trading fees and tight spreads between 0.9% - 1.2%.
• Supported Assets: 250+ Cryptocurrencies.
• Regulation & Licensing: Regulated and Licensed by the FCA.
• Customer Support Options: 24/7 customer support via live chat, email, and social media including Twitter, Facebook & Instagram.
• Available Fiat Currencies: HKD, SGD, JPY, PHP & CNY.‍

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3. Binance

Binance is a Cryptocurrency exchange that was founded in 2017 and is headquartered in Malta. It's one of the largest and most popular Crypto trading platforms in the world, offering a wide range of tokens. The exchange offers a variety of advanced trading features, including margin trading, futures trading, spot trading, and options trading. Binance has its own Cryptocurrency, Binance Coin (BNB), which can be used to pay for trading fees and other services on the platform.

• Fees: Deposit and withdrawal fees vary between 0% - 4% depending on the method, and the spot trading fee is 0.2%.
• Supported Assets: 350+ Cryptocurrencies.
• Regulation & Licensing: Unregulated in Asia.
• Customer Support Options: 24/7 customer support via live chat, email, and social media including Twitter, Telegram & Discord.
• Available Fiat Currencies: VND, IDR, CNY, SGD, HKD, TWD, INR, JPY & THB.

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4. KuCoin

KuCoin is a global Cryptocurrency trading platform that specializes in altcoins, meme coins, and dog coins. It was founded in 2017 and is headquartered in Hong Kong. The exchange offers a margin trading feature that allows users to take leveraged positions. One of KuCoin's unique features is its KuCoin Shares (KCS) token, which is used to incentivize users and provide discounts on trading fees. Additionally, it is a non-KYC exchange that doesn't require identity verification.

• Fees: Free deposits and withdrawals and a 0.2% fee on spot trading.
• Supported Assets: 600+ Cryptocurrencies.
• Regulation & Licensing: Unregulated in Asia hence no KYC requirements.
• Customer Support Options: 24/7 customer support via live chat, email, and social media including Twitter, Telegram & Facebook.
• Available Fiat Currencies: HKD, IDR, INR, JPY, KRW, MYR, PHP, SGD, THB & VND.

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5. OKX

OKX is a Cryptocurrency exchange that was founded in 2017 and is headquartered in Malta. It offers staking, lending, and borrowing services, which allow users to earn rewards for holding certain cryptocurrencies on the platform. Additionally, it is committed to security, and the platform uses advanced security measures to protect users' accounts and funds. These include two-factor authentication, cold storage for funds, and regular security audits. It also provides proof of reserves.

• Fees: Free deposits and withdrawals and 0.1% fee on spot trading and 0.02% for futures contracts.
• Supported Assets: 240+ Cryptocurrencies.
• Regulation & Licensing: Licensed in Malta and has obtained a VFA license.
• Customer Support Options: 24/7 customer support via live chat, email, and social media including Twitter, Telegram & Discord.
• Available Fiat Currencies: JPY, IDR, PHP, HKD, MYR, THB & VND.

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Is Crypto Investing Legal in Asia?

‍Cryptocurrency investing is generally legal in most countries in Asia, although specific regulations and laws may vary depending on your jurisdiction. For example, in countries like Japan, the Philippines, and South Korea, digital assets are legal and regulated as a form of payment or asset. However, in other countries like China, they have banned initial coin offerings (ICOs) and Cryptocurrency trading, but the possession of Crypto is not illegal.

In general, individuals who wish to invest in Cryptocurrencies in Asia should familiarize themselves with their country's laws and regulations. It's also crucial to use reputable and secure Cryptocurrency exchanges that comply with relevant regulations and have appropriate security measures in place to safeguard your investment.

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Is Crypto Taxed in Asia?

Similar to the laws surrounding Cryptocurrency, taxation also varies in Asia by jurisdiction, and it's important for investors to understand their country's specific regulations. In general, most Asian countries treat Crypto as assets for tax purposes. This means that gains or losses from Cryptocurrency investments are subject to capital gains taxes.

In countries like Japan and South Korea, individuals who earn a profit from Cryptocurrency trading or mining are required to report these earnings on their tax returns. In Japan, digital assets are subject to a capital gains tax ranging from 15% to 55%, depending on the amount of profit earned. In South Korea, Cryptocurrency gains are taxed at a flat rate of 20%.

It's important to note that Cryptocurrency taxation laws are still evolving in many Asian countries, and regulations may change over time. We recommend that investors keep accurate records of their Cryptocurrency transactions and consult with a tax professional if they have any questions about their tax obligations.

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Bottom Line

Cryptocurrency investing is legal in most Asian countries, although regulations and laws may vary depending on the jurisdiction. However, Bybit is available in all Asian countries except China and Singapore, making it the best option for residents in Asia. Additionally, it does not require KYC, meaning you do not need to verify your identity or location in order to use the exchange. To learn more about this platform, visit our detailed Bybit Review.