Singapore is a global hub for cryptocurrency trading, thanks to its progressive regulations and robust financial ecosystem. The Monetary Authority of Singapore (MAS) oversees crypto exchanges under the Payment Services Act, ensuring compliance with anti-money laundering and counter-terrorism financing measures. This article explores the top crypto exchanges in Singapore for 2025, focusing on their features, fees, security, and suitability for different types of traders.
Why Choosing the Right Crypto Exchange Matters
Selecting a reliable crypto exchange is critical for a safe and efficient trading experience. Key factors to consider include:
- Regulatory Compliance: Exchanges must be licensed or exempted by MAS to operate legally in Singapore, ensuring user protection.
- Security: Strong measures like two-factor authentication (2FA), cold storage, and encryption safeguard your assets.
- Fees: Low trading, deposit, and withdrawal fees maximize profitability.
- Ease of Use: Intuitive interfaces benefit beginners, while advanced tools cater to experienced traders.
- Payment Methods: Support for Singapore Dollar (SGD) deposits via bank transfers, PayNow, or cards enhances convenience.
- Cryptocurrency Selection: A wide range of coins and trading pairs supports diverse investment strategies.
Below, we review the best crypto exchanges in Singapore based on these criteria.
Top Crypto Exchanges in Singapore for 2025
1. Independent Reserve
Overview: Established in 2013, Independent Reserve is Singapore’s first MAS-licensed crypto exchange, trusted by over 400,000 users. It caters to retail traders, institutions, and high-net-worth individuals.
- Key Features:
- Supports 30+ cryptocurrencies, including Bitcoin, Ethereum, and XRP.
- Offers advanced order types like limit and stop-limit orders.
- Provides an OTC desk for large trades ($50,000 to $50 million).
- Integrates TradingView charting for technical analysis.
- Fees: Trading fees around 0.6% per transaction; free SGD deposits via FAST transfer.
- Security: ISO 27001 certification, 2FA, and cold storage solutions.
- Best For: Beginners and institutional investors seeking a regulated, user-friendly platform with SGD support.
2. Coinhako
Overview: Coinhako is a Singapore-based exchange popular for its simplicity and accessibility, serving over 400,000 users. It’s ideal for those new to crypto trading.
- Key Features:
- Supports over 200 cryptocurrencies and 100+ trading pairs.
- Streamlined interface for easy navigation.
- Offers institutional solutions like custody and high-volume trading.
- Instant SGD deposits via PayNow or FAST bank transfers.
- Fees: Approximately 1% for instant buy/sell orders; lower rates on the trading platform.
- Security: MAS-regulated, SOC 2 certified, and uses industry-leading encryption.
- Best For: Beginners looking for a straightforward platform with strong local support.
3. Coinbase
Overview: Coinbase is a globally recognized exchange with MAS approval, known for its user-friendly design and robust security. It’s a top choice for Singaporean traders.
- Key Features:
- Supports 210+ cryptocurrencies, including Bitcoin and Ethereum.
- Seamless onboarding with Singpass for quick account setup.
- Offers educational resources like articles and tutorials.
- Allows SGD deposits via bank transfers.
- Fees: Up to 0.20% for USDC-to-USD conversion; higher fees for card payments (3-4%).
- Security: Cold storage, 2FA, and no major security breaches to date.
- Best For: Beginners and intermediate traders prioritizing ease of use and trust.
4. Crypto.com
Overview: With over 80 million users worldwide, Crypto.com offers a comprehensive ecosystem for Singaporean traders, though its advanced exchange is unavailable locally.
- Key Features:
- Supports a wide range of cryptocurrencies and trading pairs.
- Mobile app optimized for on-the-go trading.
- Offers staking and earning features for passive income.
- SGD deposits via bank transfers or PayNow.
- Fees: Competitive trading fees (around 0.4%); free SGD deposits.
- Security: MAS-regulated with advanced encryption and cold storage.
- Best For: Mobile users and traders seeking diverse financial products.
5. Gemini
Overview: Founded by the Winklevoss twins in 2014, Gemini is a secure, MAS-regulated exchange catering to institutional and sophisticated investors.
- Key Features:
- Advanced trading with Gemini ActiveTrader for live analytics.
- Supports SGD deposits via local bank transfers.
- Customizable interfaces for professional traders.
- Available in over 70 countries, including Singapore.
- Fees: Trading fees vary; free SGD deposits via bank transfers.
- Security: SOC 1 and SOC 2 certified, with 2FA and cold storage.
- Best For: Institutional investors and advanced traders needing robust security.
6. OKX
Overview: OKX is a global exchange with MAS approval, known for its low fees and extensive trading options, appealing to both beginners and professionals.
- Key Features:
- Supports a broad selection of cryptocurrencies.
- Offers spot, futures, and options trading.
- Zero-fee withdrawals for SGD.
- User-friendly mobile app and website.
- Fees: Competitive maker/taker fees (0.1-0.4%); no withdrawal fees.
- Security: MAS-regulated with 2FA and cold storage.
- Best For: Traders seeking low-cost withdrawals and diverse trading options.
Key Considerations for Singaporean Traders
When choosing an exchange, keep these tips in mind:
- Verify MAS Compliance: Ensure the platform is licensed or exempted by MAS to avoid legal risks.
- Check Payment Options: Prioritize exchanges with free SGD deposits via FAST or PayNow to minimize costs.
- Assess Security: Opt for platforms with 2FA, cold storage, and a strong track record.
- Understand Fees: Compare trading, deposit, and withdrawal fees to align with your budget.
- Store Assets Safely: Consider transferring crypto to a personal cold wallet for added security, as “not your keys, not your coins.”
- Be Aware of Taxes: Cryptocurrency gains are taxable as income in Singapore; consult a tax professional for guidance.
Risks of Crypto Trading in Singapore
Crypto trading carries significant risks, including:
- Volatility: Prices can fluctuate dramatically, leading to potential losses.
- No Deposit Insurance: Funds on exchanges are not protected by Singapore’s deposit insurance scheme.
- Scams and Hacks: Over S$230 million in crypto was lost to scams in Singapore in 2024 alone.
- Regulatory Restrictions: Some exchanges, like Binance, face limitations in Singapore, affecting service availability.