Singapore is one of the crypto havens in the world, allowing the crypto industry to thrive.
Even though regulators are very strict on the regulation of crypto, they haven’t stopped the industry from growing. This has attracted many crypto companies to the country. Many others which were originally founded there have also moved to other countries.
In Asia, Singapore continues to compete with the likes of Hong Kong in crypto innovation and support for the industry. Are you a Singaporean looking for a reliable platform to buy or trade crypto?
There are several options to choose from if this is your goal. In this guide, we have curated the best of these platforms that you can use in Singapore.
Crypto.com
Crypto.com is a trusted crypto trading platform globally. It caters to over 80 million users in hundreds of countries including Singapore. Not just that, the exchange recently moved its very headquarters to Singapore having secured regulatory clearance from regulators.
You can use the exchange to buy and sell over 700 crypto assets across 34 blockchains. This makes it one of the best exchanges for altcoin investors who like to have access to a variety of crypto assets to choose from.
You can also use the app to stake and earn handsome rewards on your tokens, as Crypto.com pays one of the highest APYs on staked assets. In terms of security and reliability, the platform is highly secure and is regulated by several countries.
Coinbase
Coinbase is a global crypto exchange with headquarters in the U.S. Its subsidiary, Coinbase SG is based in Singapore and provides all Coinbase services to residents of the country. Coinbase has a good reputation as an exchange, owing to its going public in 2021.
It is also one that has high grade security, securing 95% of its users’ funds offline in cold storage. Coinbase also has over 260 supported cryptocurrencies you can buy, trade, or stake from Singapore.
One huge selling point for this platform is the simplicity of its design, which makes it most attractive to beginners with little or no knowledge of how to use crypto platforms. It also has a major weak point, which is the high transaction fees the exchange charges compared to other platforms.
Kraken
Kraken ranks number one among the most secure crypto exchanges in the world, and is one of the leading ones in Singapore. Having its headquarters in the U.S, it also serves a global user base from several countries.
Kraken has a lot to offer, including staking services, and over 210 supported crypto assets. The exchange also charges modest fees that are low compared to most other platforms, making it ideal not just for buying but also trading of assets.
Also while the exchange is known for its advanced tools which make it attractive to advanced users, it is also perfectly usable by those with less experience in the space. Singaporeans can access all of Kraken’s services except the Opt-in Rewards.
Independent Reserve
This doesn’t sound like the name of a crypto exchange, but it is the best local exchange in Singapore. As a matter of fact,it was the first crypto exchange to secure Monetary Authority of Singapore (MAS) license approval.
This user-friendly platform puts security first, and caters to all kinds of users. However, it only has 20 cryptocurrencies listed, mainly top ones like Bitcoin, Ethereum, etc. It is therefore only suitable for those interested in the large cap assets.
Coinhako
Coinhako is Singapore’s first cryptocurrency exchange, which makes its a natural leader in the country earning the trust of over 400,000 users. The platform has over 100 crypto assets listed, and is licensed under Singapore’s Payment Services Act by MAS.
It is also user-friendly, and offers an OTC trading platform that charges 0% fees for trades exceeding $200,000 SGD. There are no fees charged for SGD deposit and withdrawals, which makes its most suitable for Singapore users.
