Best Crypto Exchanges Singapore

Summary: In Singapore, acquiring Bitcoin and other cryptocurrencies can be achieved safely and efficiently through an exchange that complies with the guidelines of the Monetary Authority of Singapore (MAS). Investors can utilize bank transfers, FAST payments, Singaporean online banking services, and a variety of other methods to deposit Singapore Dollars (SGD) and buy, stake, and trade crypto assets in a regulated environment.

Our team has evaluated and assembled the top 5 trading platforms in Singapore to assist you in embarking on your crypto journey. Here are the best options available to you:

1. Independent Reserve - Best Overall Platform in Singapore
2. Coinhako - Best Crypto Exchange for Altcoins
3. Gemini - Best for Crypto Staking
4. Crypto.com - Best Alternative for Altcoins
5. Luno - Best for Beginners

Top Crypto Trading Platforms Singapore

We examined over 20 crypto exchanges to determine the top choices for investors in Singapore. Our evaluation considered crucial factors such as compliance with Singaporean regulations, available assets, user experience, deposit methods in SGD, fees, and other aspects. Based on our analysis, here is a list of the top five exchanges in Singapore.

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1. Independent Reserve

Independent Reserve is considered the best crypto exchange in Singapore by our research team, and for good reason. As a licensed and secure platform, it offers investors a trusted gateway to over 20 of the top digital assets with low fees, deep liquidity and SGD deposits via FAST bank transfers. Additionally, Independent Reserve offers a range of features such as fast and best execution trading, institutional support, a dynamic fee structure (starting at 0.5% per trade), API and integrations, and expert support.

Independent Reserve has been operating since 2013 and adheres to strong corporate governance and risk management controls. It is also the first crypto exchange to be licensed by the Monetary Authority of Singapore (MAS), which is a testament to its business conduct. The platform engages independent external auditors to undertake an annual audit of its financial statements and adheres to globally recognized security standards, including being ISO 27001 certified.

• Fees: 0.5% fee with discounts depending on trading volume. Deposits and withdrawals are free for amounts over SG$1,000.
• Supported Assets: 20+ Cryptos (BTC, ETH, SOL, USDT, USDC & other top assets).
• Regulation & Licensing: Licensed under the Payment Services Act (Singapore) License No: PS20200517.
• Customer Support Options: 24/7 support via live chat and email.
• SGD Deposit Methods: FAST/MEPS Bank Transfer & Bank Wire.

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2. Coinhako

Coinhako is a popular alternative to Independent Reserve that is better suited for retail investors looking to trade a wide variety of altcoins. The platform is also licensed under the Payment Services Act of Singapore and is ISO 27001 certified, ensuring users' safety and peace of mind. One of the key features that sets Coinhako apart is its Superwallet, which allows users to store, transact, and trade over 100 cryptocurrencies easily.

Additionally, the platform offers a user loyalty rewards program and supports multiple payment options, including PayNow, FAST bank transfers, Visa, and Mastercard payments. With a trusted reputation since 2014, Coinhako is a popular choice for those looking to buy, sell, and swap cryptocurrencies in Singapore.

• Fees: 1% flat trading fee. Free deposits & withdrawals for SGD transfers.
• Supported Assets: 100+ Cryptos.
• Regulation & Licensing: Licensed under the Payment Services Act (Singapore) License No: PS20200556.
• Customer Support Options: 24/7 support via live chat and email.
• SGD Deposit Methods: PayNow, FAST Bank Transfers, VISA/MasterCard and GrabPay.

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3. Gemini

Gemini is considered one of the best exchanges in Singapore due to its focus on trust, security, and transparent proof-of-funds for staking and compliance. Gemini is SOC 1 Type 2 and SOC 2 Type 2 compliant, which means that the exchange has met the highest standards of security and data protection. It is also licensed and audited by the Monetary Authority of Singapore (MAS), and its state-of-the-art storage system is built by world-class security engineers and experts.

Gemini offers over 100 cryptocurrencies to trade & stake in Singapore, making it accessible to a broad user base. Additionally, Gemini is the owner of the premier NFT marketplace, Nifty Gateway, which provides users with an accessible way to buy, sell, and store non-fungible tokens. Overall, Gemini's suite of products, which includes a mobile app, an exchange, an active trader platform, a wallet, a clearing solution, and a regulated stablecoin, set the standard for security, compliance, experience, and investor protection.

• Fees: 1.49% flat trading fee. Free deposits & withdrawals for SGD transfers.
• Supported Assets: 100+ Cryptos.
• Regulation & Licensing: Licensed under the Payment Services Act (Singapore).
• Customer Support Options: 24/7 support via live chat and email.
• SGD Deposit Methods: FAST Bank Transfers, VISA/MasterCard and Bank Wire.

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4. Crypto.com

Crypto.com is considered one of the best platforms in Singapore because it is a leading cryptocurrency platform that is trusted by more than 80 million users worldwide. It is known for being a leader in regulatory compliance, providing industry-leading custodial insurance and audited proofs-of-reserves. On top of this, they offer the widest range of assets on the platform for Singaporean investors with over 250 cryptos to buy, sell and trade.

The platform also offers a Crypto.com Visa Card, which is a pure metal card that provides up to 5% back on all spending with no annual fees, and users can choose to top up with fiat or crypto. Additionally, Crypto.com offers Crypto Earn, where users can earn safe yields (according to their website), with the option to choose from 21+ cryptocurrencies and stablecoins. Overall, Crypto.com's vision of cryptocurrency in every wallet and its commitment to security, compliance, and user experience make it one of the best platforms in Singapore.

• Fees: 0.6% flat trading fee. Free deposits & withdrawals for SGD transfers.
• Supported Assets: 250+ Cryptos.
• Regulation & Licensing: Crypto.com has received an 'In-Principle Approval' from MAS for a Major Payment Institution License.
• Customer Support Options: 24/7 support via live chat and email.
• SGD Deposit Methods: FAST Bank Transfers, Debit Card or Credit Card.

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5. Luno

Luno is one of the best exchanges in Singapore for beginners due to its user-friendly & minimal mobile app that allows users to buy and sell cryptocurrencies quickly and safely. Luno also offers industry-leading protection for stored crypto with its multi-signature wallets protected by many layers of encryption. Audits have shown that Luno stores over 95% of assets in their cold-wallet, which means funds are not at risk of hacks and other exploits.

Additionally, Luno keeps users up to date with the latest news and market updates in the world of cryptocurrency through their Explore section and offers a Price Alert feature to ensure that users never miss a major market movement. Overall, Luno's ease-of-use and commitment to security make it one of the best platforms in Singapore for those looking to get started in the world of cryptocurrency.

• Fees: 0.75% flat trading fee. Free deposits & withdrawals for SGD transfers.
• Supported Assets: 10 Cryptos (BTC, ETH, XRP, SOL, ADA, LINK, UNI, LTC, BCH & USDC).
• Regulation & Licensing: Luno Singapore has obtained in-principle approval from the Monetary Authority of Singapore.
• Customer Support Options: 24/7 support via live chat and email.
• SGD Deposit Methods: FAST Bank Transfers and StraitsX Transfers.

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Is Crypto Legal in Singapore?

Yes, cryptocurrency is legal in Singapore. The Monetary Authority of Singapore (MAS) regulates and supervises cryptocurrency activities to mitigate risks associated with money laundering and terrorism financing. MAS requires cryptocurrency intermediaries to comply with anti-money laundering and counter-terrorist financing regulations, and to hold a license under the Payment Services Act.

In addition, MAS has issued guidance on the tax treatment of cryptocurrency transactions, indicating that they may be subject to income tax or goods and services tax depending on their nature and purpose. Overall, MAS plays a significant role in ensuring that cryptocurrency activities in Singapore are conducted safely and transparently.

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How to Buy Crypto in Singapore

If you are interested in buying cryptocurrencies in Singapore, follow these simple steps to ensure a smooth and secure experience:

1. Select a licensed exchange: Choose a platform regulated by the Monetary Authority of Singapore (MAS), such as Independent Reserve, Coinhako, Gemini, Crypto.com, or Luno.
2. Register and verify your account: Provide your email, set a password, and complete the KYC process by submitting identification documents and proof of address.
3. Deposit SGD: Add funds to your account using methods like FAST bank transfers, PayNow, online banking, or debit/credit cards.
4. Purchase cryptocurrency: Select the desired crypto asset and enter the amount to buy in SGD or crypto. Confirm the transaction, and the exchange will execute your order.
5. Store your crypto securely: Transfer your assets to a personal wallet, such as a software (mobile or desktop) or hardware wallet, for added security.

By following these steps and choosing a reputable, licensed crypto exchange, you can safely and efficiently purchase cryptocurrencies in Singapore. Remember to keep your personal information and wallet credentials secure and always do thorough research before investing in any digital asset.

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Bottom Line

In conclusion, Singapore offers a range of regulated and secure crypto exchanges for investors looking to buy, trade, and stake digital assets. Our top five exchanges, Independent Reserve, Coinhako, Gemini, Crypto.com, and Luno, cater to various user needs while prioritizing security, user experience, and regulatory compliance. By selecting a reputable platform and following the steps to register, deposit funds, and secure your crypto assets, you can confidently invest in cryptocurrencies in Singapore. Always prioritize security and research when navigating the world of digital assets.