Coinhako Fees

Does Coinhako Have High Fees?

Coinhako, a leading cryptocurrency exchange in Singapore, is known for its clear fee structure, but its fees are considered high compared to other local platforms.

Spot trading with Singapore Dollars (SGD) and crypto pairs incurs a 0.6% fee. Recurring Buys and stablecoin-fiat trades like USDC/SGD have slightly lower fees at 0.5% and 0.3%. However, instant trades via card payments or GrabPay come with a steep 2.8% fee, increasing overall costs.

Additionally, Coinhako’s spreads are among the widest in the industry, often adding over 1% to transaction costs. This brings the total average transaction fee on the platform to about 1.6%, making Coinhako one of the more expensive options for digital asset investing.

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Coinhako Spreads and Hidden Fees

Our analysis indicates that Coinhako displays a significant spread of over 1%, with prices often exceeding industry averages. For example, a comparison of Bitcoin prices showed Coinhako listing 1 BTC at S$70,650.60, while Independent Reserve listed it at S$70,354.20.

This discrepancy underscores the substantial spread and additional costs users may face on Coinhako. Such differences are crucial for traders to consider, as they directly affect the cost-effectiveness of trading on the platform.

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Coinhako’s Other Fees

Coinhako's fee schedule includes charges for account funding, withdrawals, and cryptocurrency transactions, tailored to support various user needs.

• ‍Stablecoins-to-Fiat Trades: Trades involving stablecoins and fiat currencies (e.g., USDC/SGD, USDT/USD) incur a 0.3% fee.‍
• OTC Trades: For high-volume traders, Coinhako offers 0% fees on OTC trades via institutional services.‍
• Fiat Deposits: Depositing SGD via bank deposits using PayNow and FAST transfers incurs no fees from Coinhako.‍
• Cryptocurrency Deposit and Withdrawal Fees: Cryptocurrency deposits are free, but withdrawals incur a small fee to cover network processing costs.

Coinhako's fee structure is designed to offer flexibility, discounts through the Coinhako Rewards program, and various payment methods, enabling efficient fund management and engagement with the cryptocurrency market.

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Best Alternative to Coinhako on Fees

Independent Reserve is a strong alternative to Coinhako in Singapore, offering a secure, licensed trading environment with access to over 20 cryptocurrencies. Its competitive fee structure starts at 0.5% per trade and can drop to 0.05% based on 30-day trading volume.

Licensed by the Monetary Authority of Singapore (MAS) and operational since 2013, Independent Reserve is known for its robust security measures, including annual audits and ISO 27001 certification.

The platform caters to both beginners and institutional investors, supporting SGD deposits via FAST bank transfers, providing volume-based fee discounts, and ensuring free deposits and withdrawals for transactions over SG$1,000.

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Bottom Line

In conclusion, while Coinhako offers a clear fee structure and diverse services, its higher transaction costs and wide spreads make it a less economical choice compared to other platforms. For traders seeking lower fees and robust security, Independent Reserve presents a compelling alternative with its competitive rates and strong regulatory compliance.