Since the establishment of FYB-SG, the local cryptocurrency exchange of Singapore, there has been a steep rise in cryptocurrency trading in the Singapore financial market. Here are the top 10 cryptocurrency exchange platforms in Singapore.
The Support of more than 350 crypto assets to choose from makes Binance a dominator in the world crypto market. Binance Singapore has a dedicated portal for citizens of Singapore and also provides a lower trading fee to its users, along with the following additional benefits:
- Binance Singapore offers secure trading in cryptocurrencies and lets its users take loans in crypto
- Users having a savings account in Binance Singapore can also earn interest on their crypto deposits
So far, the platform only has eight cryptocurrencies to trade from but allows users to trade directly from SGD.
When it comes to top exchanges for cryptocurrencies globally, Kraken has established itself as a trustworthy brand in the market. Kraken, although based in the US, provides dedicated features for Singapore based users like:
- Trading by using SGD in secure wallets/ accounts
- Round the clock consumer support for all users
- Seamless trading experience with aggressive prices as compared to the competition.
Kraken does not have a wallet to store your digital assets and charges high instant buying fees.
Like many popular cryptocurrency exchanges, Coinspot has been a trustworthy name in the financial market since 2013. Founded in Australia, Coinspot Singapore deals with large capital investors and institutions around the world. A flagbearer of secure trading, Coinbase Singapore has made instant buying and selling cryptocurrency easy. Some notable features include:
- Allowing users to lock in their trade at the lowest possible price
- Direct swap feature to trade between all the cryptocurrencies listed
- Stop loss, Limit orders, and over the counter trading
The trading fee offered by Coinspot Singapore varies significantly and is higher than the competitors.
Originally a Chinese cryptocurrency exchange with offices in cities like Singapore, San Francisco, Miami, Hong Kong, and Malta, OKcoin has reached a global level in a very short period. With a mission of making cryptocurrency accessible to everyone, OKcoin has built the next generation of tools to analyze, trade, and stock crypto. Some of the key features include:
- Multiple payment gateway support, including credit/debit cards
- Option to set up recurring orders within the dashboard
- Zero transaction fees to earn crypto
Although there have been concerns about OKcoin not being regulated, it has proven itself to be a trustworthy and reliable exchange.
Being the world’s first SOC 1 Type 2 and SOC 2 Type 2 certified crypto exchange and custodian, Gemini is a “security-first” platform. Their increasing userbase reflects the trust factor created by Gemini in Singapore. Some noteworthy features are as follows:
- Hardware security key with web authorization
- Insured crypto in Gemini wallet
- Dedicated tools to analyze and maximize trading strategies
Relatively small trades and unavailability of some tokens are a few things to check when it comes to investing through Gemini.
Originated in the US, Bittrex global is one of the most secure cryptocurrency platforms in the market. Bittrex users in Singapore can earn credits based on the commission fees they pay to the platform, making it a widely popular exchange platform in the Singapore market. Bittrex provides industry-grade features for novices and professionals alike, such as:
- Bittrex credit card for withdrawals and making fiat deposits
- 350 different coins to buy and trade from
- Bittrex credits to access commission-free trades
Bittrex global charges a flat fee of 0.25% per trade, which is higher than its competitors.
Driven by innovation, Bybit is one of the fastest-growing cryptocurrency platforms in the market. Since its inception in March 2018, Bybit has garnered a loyal consumer base in and outside Singapore’s financial market. With 99.99% system functionality, Bybit hardly has a server downtime making it a secure and reliable brand in crypto trading. Some of the services offered are as follows:
- Cold hardware wallets to store funds
- High-frequency trading with powerful API integration
- Minimal price impact on each executed trade
Bybit is not regulated by any authorized financial organization and currently offers a limited number of trading pairs.
Based in Singapore, Luno is a cryptocurrency exchange with more than 6 million global users. Luno offers one of the finest dashboards for novices and helps users to understand and invest wisely. Apart from offering comprehensive guides for new investors, Luno offers a variety of features such as:
- Low trading fee, decreasing as the trade volume increases
- Send and receive crypto to friends/family with zero charges
- Free to deposit SGD via Xfers bank transfers
With a limited number of cryptocurrencies available, Luno currently does not support margin trading.
Launched in 2018, Tokenize is a cryptocurrency trading platform based in Singapore. The basic account for trading through Tokenize is free for Singapore users and also offers support for multiple cryptocurrencies such as BTC, ETH, etc. The ease of using the mobile app and its popularity in the local market gives Tokenize an edge over other exchanges. Some key features are as follows:
- Detailed trade analyses and token metrics
- Fast and secure account opening
- Workshops to educate new users
Tokenize currently has only 20 Cryptocurrencies to choose from and has a long way to go when it comes to supported payment methods.
Founded by Marcus Lim, Zimpex is a Cryptocurrency exchange platform based in Singapore. Being regulated by local authorities in Singapore makes Zimpex a trustworthy and reliable platform for purchase and trading. Zimpex acts as a digital broker and provides the best prices by aggregating volumes from global exchanges. It also provides features like:
- Two-factor authentication to minimize theft risk
- Best in class prices for BTC, ETH, and Litecoin
- Regulated trading platform with SGD support
A UL investigation found Zimpex selling flame retardant coveralls in 2015, which affected the organization’s reputation for some time.
Ether became Singapore’s most owned cryptocurrency, followed by Bitcoin, Cardano, and Binance coin in 2021. Today Singapore has grown its domestic market and also invited initiatives from neighboring countries like Japan and Thailand. If you are planning to buy, sell, and trade cryptocurrencies; you can check out the above 10 best crypto exchanges in Singapore.