The year 2022 is not very far away. As we prepare ourselves to welcome the next year, we must look at the trend which will sustain in the coming years too. We are talking about the rise of cryptocurrency in different parts of the world. Cryptocurrency is here to stay for a longer time as a number of countries are now adopting and accepting bitcoins as a payment mode in various industrial specifics.
The cryptocurrency exchange is not just a topic of discussion on the news anymore. In fact, a number of industry leaders like Venmo, PayPal, and Tesla have begun accepting crypto payments due to high volatility benefits and minimal fees. It is just a matter of time before all industrial leaders start trading with bitcoin payments. Such a demand for digital currency in the market lures Asian countries too. One such country to be lured by the trading benefits of cryptocurrency is Singapore. In this segment, we learn how to buy/sell with a crypto exchange in Singapore with minimal transfer fees.
Best Crypto Exchange Singapore: Top 11 List!
Here we have reviewed some of the leading and best Singapore cryptocurrency exchange and below are their details for you, so that you can choose the most preferable one:-
Bittrex Global is a European company that complies with European laws regulating under AML/KYC obligations. It operates as a digital asset exchange and offers custodial top crypto wallets services to its clients. Bittrex was founded in the USA and was soon functioning in Singapore as one of the best crypto exchanges. It also trades with digital payment tokens with nominal trading fees using your debit card and credit card.
Features of Bittrex
- Great choice of cryptocurrencies under monetary authority.
- Buying and selling process is quick and efficient.
- One of the most secure crypto exchanges in Singapore.
- Case-specific and unique security features under the Payment Services Act.
Pros and Cons of Bittrex
|A platform for efficient transactions.||Except for enhanced verified accounts, bank wire transfers are not supported.|
|There is a flat cost of 0.25% on transfer fees on all trades.||The minimum withdrawal fee on holdings is greater than usual.|
|Makes space for anonymous buying & selling.||Customer service is lacking.|
|Deposits or withdrawals settlements are free.|
- Crypto.com Coin
- USD Coin
- Other 259 currencies
Bittrex Singapore accessible in all countries except for
- North Korea
- The Crimean peninsula
Sign Up Now
Huobi is one of the largest crypto exchanges in Singapore catering to Asian audiences under Binance Asia services and has been operating since 2013. When you search for this crypto exchange, you will find that the company made some adjustments in its branding offering and holdings to trade cryptocurrency under a large variety of stable coins.
Huobi introduced its own digital payment token called the Huobi Token (HT). The platform is working to market utility tokens as it works immensely to promote genuine trading services and referral programs. Huobi Global also has an insurance policy to secure your crypto balance. Click here to know more.nvestors can trade their favorite tokens and coins in the easiest manner possible on Coinhako.
Features of Huobi Global
- Pairs trading.
- Customer service is important.
- Fund for User Protection.
- Trading accounts for institutions.
- Trading in derivatives.
- Trading on margin.
Pros and Cons of Huobi Global
|Chat with a customer care representative 24 hours a day.||Understanding all aspects necessitates prior experience.|
|Various cryptocurrencies are available.||It might not be the best option for novice traders.|
|A USD50 minimum deposit is required.|
|Apps for iOS and Android are available.|
|A website that is both functional and user-friendly with a referral program.|
|A wide range of features with crypto assets with lower trading fees.|
- 109+ digital currencies
- United Arab Emirates
- 130+ countries
Sign Up Now
Founded in 2014, Coinhako is a Singapore based cryptocurrency exchange offering a nominal withdrawal fee under a safe channel. Crypto investors can trade their favorite tokens and coins in the easiest manner possible on Coinhako. Even newbies can pay and trade easily and deposit cash on the website without much trouble and lower transfer fees. Trading cryptocurrencies at Coinhako is known to be an exclusive finance trade where you can withdraw digital currency for free.
Features of Coinhako
- Cryptocurrency spot trading.
- multi-payment options.
- Fiat denominated cryptocurrency trading.
- Fiat currency to stablecoin account funding.
- Cryptocurrency spot trading.
Pros and Cons of Coinhako
|Exchanges well-known cryptocurrencies.||Less number of available cryptocurrencies and unavailability of newer coins.|
|Beginner-friendly, simple to use UI.||Some coins have partial support.|
|Quick and dependable with excellent customer service.||The main page does not have any cryptocurrency news.|
|High level of safety.||A 1% website charge for purchasing, selling, or trading bitcoins.|
|You have the option of trading in SGD or USD.|
- Basic Attention Token
- Binance Coin
- Bitcoin Cash
- Cardano Coin
- ChainLink Coin
- 22 more
Sign Up Now
Bybit was founded in 2018 and is known to be one of the fastest-growing cryptocurrency derivative exchanges. Headquartered in Singapore, it is registered in the British Virgin Islands. It was established by a team of professionals with expertise in investment banking and the New York trust company department with fine knowledge about the publicly listed company. It is a client-focused platform that provides a fine user experience accepting Singapore dollars. The daily trading volume on this website is increasing rapidly. Click here for more details.
Features of Bybit
- Trade derivatives products.
- 100X leverage trading.
- Host of data analysis tools.
- Intuitive user interface for the crypto community.
Pros and Cons of Bybit
|No KYC is required for a new user. It’s simple to get started trading on this website.||There is a limit on the number of pairs available.|
|Bybit offers high leverage, low trading costs, and a market maker rebate.||Regulation is lacking.|
|A Guarantee that the Insurance Fund will mitigate and compensate losses.||Trading volume and numbers cannot be independently checked to ensure their accuracy.|
|Top three established exchanges in terms of crypto derivatives trading volumes.|
|Bybit costs, especially withdrawal fees, are among the lowest in comparison to other exchanges.|
- And more
- North America
- South Korea
- Southeast Asia
Sign Up Now
Changelly is a non-custodial exchange offering trade in a number of digital currencies. In our opinion, the website offers an easy-to-use service that is simple and holds on to its users with a minimal transaction fee. However, the number of investors and transfers is on the lower side as the platform does not operate in the United States. Although, the site has also provided a FAQ section, so that users can solve their small doubts.
Features of Changelly
- Trading service for non-custodial cryptocurrencies.
- Accepts a variety of standard traditional currencies.
- The platform has the lowest exchange rate compared to other platforms.
- It’s easy to sign up for this platform.
Pros and Cons Changelly
|Various cryptocurrencies are available on the website.||It is not controlled in the United States.|
|Low costs for the crypto-to-crypto exchange.||High fiat-to-crypto conversion rates.|
|Compatible with a variety of wallets.||Payment choices are less.|
|Anonymous.||Minimum trade amounts are really high.|
|Simple to use.|
- 150+ cryptocurrencies
- Asian countries
- Western countries
- European countries
- 50+ countries
Sign Up Now
Coinspot was first established in Australia in 2013 and is known to be at the forefront in the world of finance and blockchain technology revolutions. Investing on this platform is hassle-free as it understands the needs of its users looking for better investments. It helps users with easier ways of transferring their digital currencies and concludes better investment. CoinSpot also added DeFi and NFTs to its finance list of trading crypto assets.
Features of CoinSpot
- No-hassle, low-cost, and efficient service leaves people pleased.
- Plenty of tools and customized trading possibilities.
- Excel at a basic set of functions.
Pros and Cons of CoinSpot
|Deposit funds with a credit card using a processing charge.||Weekly volume restriction, which rises over time.|
|You may immediately purchase and sell trades once you’ve been verified.||Trading on margin is not possible.|
|A wide range of coins, NFTs, and DeFi are available.||Hasn’t figured out how to pay bills with crypto.|
|You may dollar cost average by scheduling automated purchases on a weekly, monthly, or daily basis.|
|Change the value in fiat currencies with ease.|
|Regulated by AUSTRAC and accredited by ISO.|
- 300+ currencies
- South Asian countries
- 50+ countries
Sign Up Now
Gate.io is the oldest cryptocurrency exchange in China since 2013. It is one of the leading Initial Exchange Offering (IEO) platforms with nominal trading fees. Major features like margin trading with leverage, lending crypto with margin lending among a number of cryptocurrencies make it one of the best crypto exchanges in Asia. Check out for more information.
Features of Gate.io
- Users may engage in period investment plans, pay and invest in cryptocurrency markets, margin trade with 10x leverage, margin lend or borrow funds, and invest in cryptocurrency markets.
- It offers low fee service to its users.
- CER has named it one of the best exchanges for cybersecurity.
- It offers a large help database, including a FAQ part and a New User Guide.
Pros and Cons of Gate.io
|A 0.2 percent fee is charged.||Deposits in fiat money are not accepted.|
|There are no fees for deposits or withdrawals.||There aren’t enough details in the FAQ section.|
|A platform that is easy to use and supports a wide range of cryptocurrencies.|
- 60+ countries
Sign Up Now
When it comes to crypto investments, KuCoin is a well-renowned name to manage all operations related to crypto trading. With minimal transfer fee, the platform offers various services including margin and futures trading along with instant-exchange services and Pool-X opportunities. The reason why users opt for investing with KuCoin is its lowest withdrawal fees and other trading fees with upside potential.
KuCoin accounts offer generous profit-sharing incentives along with a huge community helping to make profits with kuCoin Shares (KCS) tokens. Withdrawing crypto is also an easier and secure procedure with KuCoin. Know more by visiting the site.
Features of KuCoin
- KuCoin’s margin trading lets you leverage your stake.
- KuCoin also has a mobile app that lets users employ bots.
- Pool-X, a KuCoin-backed startup, allows you to stake coins.
- You may lend your cryptocurrency and be reimbursed for the interest.
Pros and Cons of KuCoin
|Low fees.||Payment options are less because it is not licensed in the United States.|
|Large user base.||Limited instructional materials are not suitable for beginning traders.|
|A wide variety of coins are available.|
|Interest may be earned on your cryptocurrency.|
|Features for advanced traders.|
|Excellent client service.|
- 190+ currencies
Sign Up Now
OKX was founded in 2014 and operates from Hong Kong. It is one of Asia’s best crypto exchanges with strict policies and restrictions related to money laundering and gas fees. Since the platform is focused on international markets, this makes it the best crypto exchange in the Asian region. A number of users are linking their bank accounts with OKX as the MAS investor alert list has pointed out various proponent companies like Hotmail and Tesla using OKX. Check out the platform adhered to all capital reserve requirements and insurance policy in Singapore.
Features of OKX
- It is one of the world’s major international cryptocurrency exchanges. It is well-designed and looks similar to high-end traditional financial markets trading platforms.
- It provides weekly, bi-weekly, and monthly contracts for Bitcoin, Ethereum, and EOS futures trading.
Pros and Cons of OKX
|Pro trading choices include futures and cryptocurrency support.||For the time being, only CNY is accepted as a form of payment.|
|Trade cryptocurrency at a high level.||Customer service has received mixed ratings.|
|Trading with leverage.||However, with worldwide expansion goals, China’s market focus should shift.|
|Low Fees charges for a wide choice of over 100 coins.|
- 60+ more
Sign Up Now
OkCoin is the world’s largest and best crypto exchange Singapore by volume. It has over 16 million Bitcoin transactions with a minimal fee in a month. The platform is based out of China and was established by a tech-savvy man named Star Xu. The asset managers on this platform are based in the Asian market. However, they accept USD deposits and Singapore dollars from other parts of the world, from small BTC withdrawals to major visa card settlements. Get more information by visiting our site.
Features of Okcoin
- It utilizes the most up-to-date security and encryption mechanisms for the protection of its users. It is also for the cold storage for the bulk of their coin.
- Beginners and professional traders alike can profit from the user-friendly layout.
Pros and Cons of Okcoin
|Exceptionally high liquidity||Withdrawals require verification|
|Has the ability to trade on margin and in futures markets.||A limited number of bitcoin crypto assets can be traded.|
|Competitive and cheaper fees charged|
|Deposits and withdrawals in traditional currency and savings on an advanced trading platform.|
- Ethereum Classic
- New Zealand
- 55+ countries
Sign Up Now
Sparrow Exchange was built in January 2018 in Singapore by tech-savvy Arian Tan and Kenneth Yeo. It is one of the leading & the best crypto exchange in Singapore that is built on the response of users from across the country. Registering a wallet on Sparrow Exchange is quite simple with an associated wallet. Recently, the platform was secured with BitGo, which explains all the satisfied users on the platform investing their savings. Users are holding on to this platform because of the security and local officials to help them with better trading ideas and processes.
Features of Sparrow Exchange
- It has a solid conception and strong partner and technology support.
- TradeBoost and TradeProtect are excellent features.
- The user interface is simple and appealing.
- It contains a button that gives you easy access to Bitcoin and Ethereum settlement values.
Pros and Cons Sparrow Exchange
|SPO provides a 50% savings on transaction costs.||You won’t be able to accomplish anything without KYC.|
|Trading and custody of digital assets have security regulations in place.||Android smartphones do not support mobile apps.|
|It is a fantastic place for newbies to start because it solely deals with Bitcoin and Ethereum.||Citizens of the United States are unable to utilize the Sparrow exchange.|
|FIAT currencies are not accepted.|
Sign Up Now
Why Do You Need Crypto exchange?
Cryptocurrency requires no introduction to users. Recently, in April 2021, the price of Bitcoin skyrocketed to USD88,244. Other digital currencies like Cardano and Ethereum also saw all-time high prices around the same time. This is one of the reasons why investors are also looking to purchase and wager in digital payment mode.
However, digital currencies are not available at banks and investment firms to buy from. If you wish to bet using Bitcoin or other coins and tokens, you must create an account on a crypto trading platform to transfer your fiat currencies to digital assets. This is where a cryptocurrency exchange comes into the picture.
Crypto exchange platform lets you buy and sell cryptocurrency where you can buy/sell and convert one currency into another under menial withdrawal fees. Users can also check their crypto balance in their respective wallets.
Your cryptocurrency exchange platform will reflect the current market price of the digital currencies where you can convert or purchase digital currencies to fiat currencies (like US Dollars) and simply withdraw the same to your bank account from your wallet.
How to Trade Cryptocurrency in Singapore?
You need to have a wallet on a cryptocurrency exchange first to trace and purchase crypto in a country like Singapore. Consider this exchange as an online brokerage account in the crypto market that will allow you to invest in digital assets under a lower fees structure. Cryptocurrency exchanges will allow you to buy/sell any coin or token it supports and transfer the same in your accounts. It is very similar to any online brokerage account that lets you trade shares, but with lower or no withdrawal fees involved.
Some users in Singapore often wonder if they can just use the stock brokerage wallet they are holding on to! Why do any users require a separate platform to buy/sell cryptocurrencies? The process of cryptocurrency trading in Singapore only works with the best cryptocurrency exchange.
So if you wish to trade cryptocurrencies, you need a cryptocurrency exchange platform. Funding your crypto exchange with a credit or visa card is in fact possible after two-factor authentication with lower trading fees incurred.
How to Select the Best Singapore Based Crypto Exchange?
Cryptocurrency exchanges play the role of a marketplace for digital tokens and currencies under low trading fees and free withdrawals. However, find more about them and explore. Although, since there are various crypto exchanges to choose from, there are a few factors that a user must take into consideration while choosing the right platform for their requirements. For instance, how many cryptocurrencies other than Bitcoin are accepted on the exchange.
Users must look for exchanges that are transparent with their trading fees and credible legal tender. One must also consider how funds are transferred and how clear the platform is regarding cryptocurrency regulations.
If you are a user from Singapore, make sure the following factors are answered in your favor before you choose from the list of largest cryptocurrency exchanges.
Is that crypto exchange support SGD (Singapore Dollar)?
A number of crypto exchanges offer lower trading fees when you search for it, which is only applicable for trades done in US dollars. Some of these exchanges do not support the Singapore Dollar and that affects the Asian market.
So if you are a user based in Singapore, it might not be feasible for you to register an account on such a platform. Rather, having an account on an exchange that supports SGD and USD withdrawals will be a hassle-free process for you. An independent reserve exchange in a country will let you trade with SGD.
Fee structure of Crypto exchange
One interesting thing to be aware of is the link between the user interface of a crypto exchange and the associated fee structure.
If the user wishes to choose the simple interface on crypto exchanges, the fee structure is higher in comparison to the complex crypto exchange interface. For instance, a Gemini account charges 1.49% for a simpler user interface and 0.25% trading fees and withdrawal fees using a Gemini dollar for a complex interface. So make sure you check the trading fees on every independent reserve before you sign up and choose the platform to trade.
Deposits and Withdrawals Charges
The deposits and withdrawals fees and free settlements are typically different for each crypto exchange. Resources suggest that the fee structure can vary from one platform to another. But, it is recommended that all users must check out the low fees of withdrawal in particular, as it might come as a shock to them.
For instance, if you wish to withdraw 0.2 ETH and the withdrawn fees applicable is 0.1ETH, it means half of your amount is wasted in just paying the transaction fee. Consumers must be careful with such a fee structure. Also, look for all cheaper deposit and withdrawal fee structures involved in the wallet.
Transparency and security measures are a factor of loyalty of any financial transaction in digital currency, especially when you withdraw the currency. For beginners, in particular, security at the best crypto exchange with minimal trading fees or free transactions matters a lot. Buying or selling at a platform with no information on regulators, independent reserve, and jurisdiction is extremely risky.
At any point, you are at risk of losing your digital currency. It is difficult to withdraw the currency with whooping withdrawal fees. Your entire investment will also be at a loss. Thus, it is important to choose the finance platform where transacting, buying, and selling the digital currency with your debit card is regularized by the regional jurisdiction. In this case, it is MAS under the PS act of Singapore.
Is that licensed or not by MAS under the Payment Services Act?
Under the Payment Services Act, most crypto exchanges are operated under the authority of Singapore MAS. It formalizes the transitions under the licensing framework with lower transaction fees. So, it is vital to choose a MAS-compliant crypto exchange to stock tokens and digital coins with your debit card and credit card.
If you find a popular crypto exchange that supports top cryptocurrencies trading on the platform with lower transaction fee but the MAS regulation is missing, you do not want to trade on such a platform as the benefits will be limited and you might face the liability of converting US Dollars and Singapore Dollars, which can be an additional complicated process. The transfer fees in such matters increase simultaneously and you miss the opportunity to avail of free transactions.
Conclusion on Singapore best crypto exchange
There are a number of crypto exchanges in Singapore with great trading volume records to begin your cryptocurrency trading. But choosing the right one from various crypto exchanges in Singapore is what will benefit you in the near future. As you go through different exchange lists and associated trading fees, make your choice a wise one.
Make sure to have an international bank account that recognizes the legal transaction of crypto assets on your bank account. The best crypto exchange in Singapore provides you a secure platform to pay and buy/sell cryptocurrency at your own comfort with no involvement of any third-party financial institutions. So choose the right platform authorized under the monetary act of Singapore to earn some worthy crypto assets.
Which Crypto Exchange Is Licensed in Singapore?
All global crypto exchanges operating in Singapore under the monetary authority of Singapore are licensed ones. So check for the banking compliance standards and license information before you proceed with any wallet.
Can You Trade Crypto in Singapore?
Yes, you can. However, crypto investors must look only for the licensed exchange. A separate legal entity of the exchange is positive as it enhances the credibility for the retail investors where you can pay and transfer crypto without facing any hassle.
Is Crypto Legal in Singapore?
Yes, trading in cryptocurrency is legal in Singapore. But all the SGD deposits realized on any cryptocurrency exchange must be made by the cryptocurrency service providers under MAS regulations.
Which Crypto Exchange Is Approved in Singapore?
Cryptocurrency exchange operating under the authority of Singapore MAS is an approved exchange in Singapore. Singapore users must register only for these licenses.
Source link: https://www.cryptonewsz.com/cryptocurrency-exchange/sg/