Top 10 Best Crypto Exchanges in Singapore

Looking for the best cryptocurrency exchange in Singapore? You're in luck! With Singapore's growing prominence in crypto trading, there's no shortage of options. To simplify your search, I've curated a list of top exchanges like MEXC, Kraken, and Coinbase. The platforms offer many assets. They have low fees and high liquidity. They also rank user security and obey regulations. As CEO of  DavidWabinz.com, I've compiled this analysis to help you find the ideal exchange for your needs.

Is Crypto Legal in Singapore?

Singapore has commendable regulations for digital currencies and blockchain technology. They promote a vibrant ecosystem of cryptocurrency exchanges. Among the top exchanges in Singapore are MEXC, OKX, Crypto.com, HTX (Huobi), Kraken, Coinhako, Gemini, and Luno. They have low fees, powerful features, and top-notch security. Whether you are new or experienced in cryptocurrency trading, joining one or more platforms will ensure a smooth and safe time. They provide advanced tools to improve your trading strategies and results. Continue reading this article, I will help you find the most suitable cryptocurrency exchange.

What Are Singapore Crypto Regulations?

Understanding Singapore's cryptocurrency laws is crucial. They determine what makes an exchange one of the best for Singaporeans.

Traders like Singapore because it has crypto-friendly rules. It also takes a progressive stance on digital assets. The country has encouraged industry growth. It did this by measures like creating a regulatory sandbox for fintech companies. It also exempted some cryptocurrencies from the Goods and Services Tax.

The supportive rules attracted many top cryptocurrency exchanges to Singapore. This made it a hub for crypto trading in Southeast Asia.

Cryptocurrency exchange services in Singapore are legal. They are also regulated by the Monetary Authority of Singapore (MAS), the central bank and financial regulator. MAS sets guidelines for exchanges to operate in a compliant and safe manner.

Crypto exchanges in Singapore must follow MAS regulations. They must use Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. These measures ensure proper identification and verification of all investors. They also watch transactions to prevent crime.

Singapore's crypto exchange regulations make the country an appealing destination for crypto investors. They seek a secure and regulated place to buy and trade digital assets.

Under MAS oversight, platforms are required to furnish customers with a risk warning. In Singapore, these platforms are called DPT service providers. This is instead of crypto exchanges.

Contrasting Singapore's regulatory framework with others, notable distinctions emerge. Singapore designates cryptocurrencies as property. This allows legal buying via crypto exchanges, ATMs, and select institutions.

Moreover, it's important to note that cryptocurrency trading in Singapore is subject to taxation. Gains from trading are taxable. They must be disclosed on tax returns. This taxation framework is a product of Singapore's crypto regulations.

Best Crypto Exchange Singapore

1. MEXC: Best overall crypto trading platform in Singapore

MEXC is the top crypto trading platform in Singapore. It offers a full set of services. These are for the diverse needs of cryptocurrency traders. MEXC is based in Singapore. It has quickly become the top choice for crypto fans, not just locally but globally. It has a huge user base of over 10 million people in 170 countries.

MEXC is notable for its strength in handling many transactions. It ensures a responsive trading environment for users of all levels. Moreover, MEXC offers many cryptocurrencies for trading. These include popular options like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).

Also to its robust trading platform, MEXC stands out. It offers many educational resources. They are for both new and experienced traders. MEXC has beginner guides and blog posts. They give users the knowledge needed to navigate cryptocurrency well.

Furthermore, MEXC has competitive fees. The rates are reasonable for both futures and spot trading. MEXC has zero fees for makers. It has low charges for takers ( 0.00% for makers and 0.02% for takers). This ensures cheap trading for its users.

MEXC offers many things. It has a user-friendly interface. It is committed to security and efficiency. These things make it the best crypto trading platform in Singapore.

2. Kraken: Best regulated crypto exchange in Singapore

Kraken is a top cryptocurrency exchange in Singapore. It's known for its wide range of offerings and low trading fees. This has made it a top choice for users. With a maximum trading fee of just 0.26% per trade, Kraken ensures cost-effective trading opportunities for its clientele.

Kraken's key strengths are its many trading pairs. They let users seamlessly trade cryptocurrencies for various fiat currencies. These include the US Dollar, Euro, Canadian Dollar, and Japanese Yen. Moreover, Kraken makes it easy to convert fiat currency to cryptocurrency. It offers direct USD bank transfers, a feature that sets it apart from many other exchanges.

Kraken delivers for experienced investors. It offers advanced trading options like margin trading, which gives up to 5x leverage. It also has a staking option. This rewards users for holding supported digital payment tokens in their Kraken accounts.

3. OKX: Best Bitcoin exchange in Singapore

OKX is a powerhouse among cryptocurrency exchanges in Singapore. It does this by using its global presence and partnerships with top brands and sports teams. These include Manchester City, McLaren, and the Australian Olympic Team. It has millions of users in over 100 countries. This makes OKX's position more secure. They are one of the world's largest and most reputable crypto exchanges.

In Singapore, OKX offers a strong trading environment. It uses cutting-edge blockchain tech. It serves the diverse needs of cryptocurrency traders. The platform has many trading pairs. They include major cryptocurrencies like Bitcoin (BTC), Polkadot (DOT), and Ethereum (ETH).

OKX has a competitive fee structure. It considers factors like trading volume and assets held over 30 days. Traders pay lower maker and taker fees as their trading volume and assets increase. This ensures cheap trading for both new and experienced investors.

Also, OKX offers more than trading services. It gives access to many decentralized finance (DeFi) products. These include lending, mining, non-fungible tokens (NFTs), and a premium OKX wallet. These serve the changing needs of the crypto community.

Overall, OKX has many offerings. It has global partnerships and cutting-edge technology. It also has a competitive fee structure. These things make it one of the best cryptocurrency exchanges in Singapore. They attract traders from around the world. The traders want a comprehensive and reliable platform.

4. Crypto.com: Best daily trading crypto exchange in Singapore

Crypto.com is a top cryptocurrency platform. It started in Hong Kong in 2016. It has quickly grown to include over 70 million users in 90 countries. In Singapore, Crypto.com is a go-to destination for crypto enthusiasts. It offers a wide range of services for diverse trading needs.

The platform offers spot trading of over 250 currencies. It includes popular options like BTC, ETH, DOGE, and DOT. Moreover, Crypto.com is a marketplace for Non-Fungible Tokens (NFTs). It lets users explore the growing world of digital assets in one place.

From a user experience view, Crypto.com is great. It has an easy interface. It streamlines the buying, selling, and trading of crypto. This easy approach ensures that transactions can be done fast and well. It is ideal for both new and experienced traders.

Furthermore, Crypto.com improves trading. It provides real-time cryptocurrency market data and advanced charting tools. It also offers a variety of order types to fit diverse day trading strategies. This set of features empowers users. It helps them make informed trades and profit from market opportunities.

Overall, Crypto.com has many offerings. It has an interface and gives real-time market insights. These things make it one of the best cryptocurrency exchanges in Singapore. It attracts users seeking a smooth and efficient trading experience.

5. HTX Huobi: Best crypto exchanges for margin trading in Singapore

HTX (Huobi) is a cryptocurrency trading platform. It originated in China but has since moved its headquarters to Singapore. It is a major player in the cryptocurrency exchange landscape. Huobi is renowned for its many payment options and support for various fiat currencies. It offers users a smooth trading experience with very low fees of 0.2%.

In Singapore, HTX (Huobi) caters to a global clientele, serving tens of millions of clients across over 100 countries. The platform has a wide selection of over 500 top cryptocurrencies. They are available for trading, creating many chances for investors to diversify their portfolios.

Huobi offers many crypto services. These include spot trading, margin trading, futures trading, copy trading, staking, crypto loans, and more. They give users a full set of tools to meet their trading goals. Also, the platform enables initial coin offerings (ICOs). It hosts 606 digital assets and 690 trading pairs.

Huobi has a standout feature: its native token, Huobi Token (HT). It offers fee discounts, rewards, and exclusive event access. This token improves the platform's user experience. It encourages engagement and participation in the Huobi ecosystem.

HTX is one of the best cryptocurrency exchanges in Singapore. It has strong offerings, and global reach, and is committed to providing a smooth trading experience. It appeals to both new and experienced traders.

6. Coinbase: The most user-friendly crypto exchange for Singaporeans

Coinbase ranks among the leading cryptocurrency exchanges in Singapore. It emphasizes security, education, accessibility, and SGD support. These priorities make it one of the best cryptocurrency exchanges in Singapore. It appeals to users who want a trustworthy platform for their crypto trading.

Despite starting in the US, Coinbase has a strong global presence. This includes Singapore, where it operates as Coinbase Singapore. The platform has gotten in-principle approval from the Monetary Authority of Singapore. It can operate as a major payment institution, offering digital payments to Singaporean users.

Security is very important for cryptocurrency exchanges. Coinbase prioritizes it with great care. Coinbase uses strong security measures. These include two-factor authentication and offline storage for most users' crypto assets. They keep their clients' trading environment secure. Additionally, Coinbase provides insurance. It safeguards user's funds against breaches or hacks.

Coinbase offers comprehensive support for the Singapore Dollar (SGD). It lets users buy crypto using SGD with credit/debit cards. It also allows deposits and withdrawals through bank transfers. This SGD support makes it easier for Singaporean users to access it. It helps them make transactions and manage money smoothly.

7. BitMEX: A leading crypto derivatives platform

BitMEX emerges as a leading derivatives exchange catering to crypto enthusiasts in Singapore. BitMEX is famous for its margin trading. It offers perpetual contracts for Bitcoin and many other cryptocurrencies. It has carved a niche as one of the top crypto futures platforms. Its reputation comes from futures trading. But, BitMEX has recently added spot trading.

BitMEX has a standout feature: its very high greatest leverage. It reaches up to 100x for select contracts, surpassing many other futures exchanges. This high leverage boosts trading flexibility and risk management. It also supports various order types like stop-loss and take-profit orders. This is especially useful for users doing high-leverage trading.

The exchange has its own BitMEX token. It offers holders a range of benefits. These include discounts on trading fees and refunds on withdrawal fees. They also include early access to new products, VIP services, and more. Additionally, BitMEX provides a mobile app. It lets traders manage their positions and trades on the move.

8. Coinhako: Best crypto exchange in terms of security in Singapore

Coinhako is a Singapore-based cryptocurrency exchange. It focuses on user convenience. It offers versatile accounts and a user-friendly Superwallet app. It also has a diverse selection of cryptocurrencies. These features make it one of the best cryptocurrency exchanges. It's for users in Singapore and the broader Asian market. The platform offers many payment options. These include PayNow, GrabPay, FAST bank transfers, and Mastercard and Visa cards. They make it easy for users to buy cryptocurrencies.

Coinhako's strength is its versatility. It caters to many types of traders with different account types. These include individual, accredited investor, and OTC (over-the-counter) trading accounts. This ensures that users can access the services that best suit their trading needs.

Coinhako's Superwallet app improves the user experience. It does this by making it easier to trade, store, and use cryptocurrencies. It supports many blockchains. Users can manage all their crypto investments in one app. This streamlines portfolio management.

Coinhako may offer fewer cryptocurrencies than industry leaders like Coinbase and Kraken. It has 92 listed cryptocurrencies. But, this is still plenty for most investors to build a well-rounded crypto portfolio.

9. Gemini: Best crypto exchange for a great user experience in Singapore

Gemini is a noteworthy cryptocurrency exchange and custodian in Singapore. It was founded by Cameron and Tyler Winklevoss, notable figures in early Bitcoin. Gemini is known for its reliability and high-speed trading. The ActiveTrader feature makes trading easy and efficient. ActiveTrader has advanced charting tools. It supports many trading pairs and offers various order types. It caters to both new and experienced traders.

Security is a top priority for Gemini. It has accreditation from the Monetary Authority of Singapore (MAS) and nearly $200 million in insurance for its users. This focus on security boosts trader's confidence. It assures the safety of their funds and assets on the platform.

The Gemini app is dedicated to improving trading. It does this by providing easy navigation through many trading pairs. It also gives real-time market updates and advanced charting tools. These features empower users to make well-informed decisions in fast trading. They ensure a competitive edge in the market.

10. Luno: Best crypto trading app in Singapore

Luno is a top cryptocurrency exchange in Singapore. It is famous for its easy-to-use mobile app. The app has gotten over 10 million downloads on the Play Store. The app has a user-friendly interface. It makes it easy to move between menus and features. This makes the app ideal for beginners. Also, clear charts and data improve the user experience. They give traders valuable insights.

Both the Luno app and web platform support many popular cryptocurrencies. These include Bitcoin (BTC), Ripple (XRP), Solana (SOL), and Ethereum (ETH). Also, users can trade these cryptocurrencies for fiat currencies. These include the US Dollar, British Pound, and Euro. This offers flexibility and convenience for trading.

Security is a top priority for Luno. They use advanced measures like encryption, cold storage, and multi-signature wallets. They also use proof of reserves to keep users' funds and assets safe on the platform.

A standout feature of Luno is its Dollar Cost Averaging (DCA) feature. It enables automated investing on a set schedule. With DCA, users can reduce market volatility. They do this by investing a fixed dollar amount at regular intervals. They do this regardless of the current share price. This practice promotes disciplined and strategic investing.

Overall, Luno has an easy interface. It supports many cryptocurrencies and fiat pairs. It has strong security. It has innovative features like Dollar Cost Averaging. This makes it one of the best cryptocurrency exchanges in Singapore. It appeals to both new and experienced traders.

How to Buy Crypto and Bitcoin in Singapore

Singapore has indeed become a hub for cryptocurrency trading. This is thanks to its strong regulations and the availability of diverse exchanges like MEXC. Buying Bitcoin and other cryptocurrencies in Singapore is easy. The process is similar across exchanges. Let's delve into the steps for buying crypto on MEXC:

• Account Creation: Begin by signing up for an account on the MEXC platform. This usually involves giving basic personal info. You also have to verify your identity as required by regulations.
• Deposit Funds: After your account is verified, deposit funds into your MEXC account. You can do this via bank transfer or other supported payment methods.
• Navigate to Trading: Once your funds are credited, navigate to the trading section of the platform. Here, you can select the cryptocurrency you want to buy. It could be Bitcoin (BTC), Ethereum (ETH), or any other digital asset.
• Place an Order: Decide on the amount of cryptocurrency you want to buy and place a buy order on the MEXC exchange. You can choose market orders. They are executed at the current market price. Or, you can choose limit orders. With these, you set your desired price for execution.
• Confirmation and Execution: After placing your order, wait for it to be executed. Once your buy order is filled, you'll see the purchased cryptocurrency in your MEXC account.
• For long-term holdings, use a private wallet for enhanced security. It's a good place to transfer your purchased cryptocurrency. MEXC and other exchanges offer wallet services, but storing large amounts of crypto on exchanges carries some risk.
• Stay informed. Keep up with market trends, rules, and security. This will help you make good choices when trading and storing cryptocurrencies.

Be sure to proceed with care. Do thorough research before investing in cryptocurrencies. Singapore is good for crypto trading, but markets are volatile. Only invest what you can afford to lose.

Which is the best crypto exchange in Singapore?

MEXC is one of the top cryptocurrency exchanges in Singapore. It offers many cryptocurrencies. It has strong security and advanced trading tools. But, finding the best exchange is subjective. It depends on factors such as trading preferences, security, supported assets, fees, and user experience.

Apart from MEXC, several other prominent exchanges operate in Singapore's crypto space. These include Kraken, OKX, HTX (Huobi), Gemini, and Crypto.com, each catering to different trading needs and preferences.

When picking a crypto exchange, do thorough research. Consider factors like security. Also, consider the supported cryptocurrencies. Also, consider the trading fees, liquidity, and the user interface. Also, staying informed about regulatory updates from the Monetary Authority of Singapore is vital. Regulations may impact exchanges and user experience.

In the end, users should be cautious and diligent. They should use care when choosing a crypto exchange. They should ensure it fits their needs and risk tolerance. Monitoring updates and user feedback can help you make informed decisions. It will also help you navigate the changing cryptocurrency landscape well.

Frequently Asked Questions

Which crypto exchange has the cheapest trading fee in Singapore?

As a cryptocurrency research expert, I can confirm that the MEXC crypto exchange offers the lowest trading fees in Singapore. With a competitive fee structure of 0.00% for both makers and takers, it provides a cost-effective option for traders.

What are the requirements for obtaining a crypto exchange license in Singapore?

To obtain a crypto exchange license in Singapore, platforms must meet strict requirements including robust security measures and compliance with anti-money laundering regulations. Exchanges like Kraken and Coinbase fulfill these criteria, making them suitable for use in Singapore.

What makes an exchange one of the best crypto exchanges in Singapore?

For a crypto exchange to be considered among the best in Singapore, it needs to comply with local regulations, support SGD, offer a wide range of features and services, and provide access to a diverse selection of cryptocurrencies. Kraken, KuCoin, and Coinbase are among the top exchanges that meet these criteria.

Can foreigners buy crypto in Singapore?

Foreign investors are warmly welcomed to participate in Singapore's cryptocurrency market, thanks to the country's open and inclusive regulatory environment.

Is Singapore a crypto-friendly country?

Singapore's crypto-friendly environment and accommodating regulations foster a vibrant ecosystem. The government actively promotes cryptocurrency integration into the financial sector while prioritizing risk management, particularly regarding consumer protection and anti-money laundering measures.