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.
Independent Reserve Singapore

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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.
Coinhako Singapore

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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.
Gemini

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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.
Crypto.com

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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.
Luno

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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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Bottom Line

Investing in cryptocurrency is becoming increasingly popular in Singapore, and there are many crypto exchanges available to Singaporean investors. However, it is crucial to choose a platform that is secure, reputable, and licensed by the Monetary Authority of Singapore (MAS) to ensure that your investments are protected.

Our research has identified the top five crypto exchanges in Singapore, which are Independent Reserve, Coinhako, Gemini, Crypto.com, and Luno. These platforms offer a range of features, including low fees, deep liquidity, a variety of assets, and SGD deposit methods, making them suitable for different investor profiles.