Best Crypto Exchanges to Use in Singapore 
I bet most readers are familiar with stock brokers and exchanges but can be quite clueless as to how to buy cryptocurrencies.
Cryptocurrency exchanges play the role of a broker as well as a marketplace.
This is unlike stocks where you can have multiple brokers putting orders in the same exchange. This also means that you can have different price quotes on Bitcoin on different exchanges. Fees, price spreads, order types, liquidity, and the types of coins offered can differ widely too.
To me, these are the key considerations when choosing a cryptocurrency exchange:
Number of cryptocurrencies Trading fees Withdrawal fees Fund transfers Regulations.
As of 2022, Binance.sg has announced that it’ll close its exchange to Singapore users by 13th Feb 2022 as it withdraws its Singapore licence application. Huobi Singapore has also announced that it’ll close accounts of Singapore-based users by 31 March 2022.
If you’re on these exchanges, the following could be alternatives to consider:
Best Crypto Exchanges in Singapore.
Cryptocurrency Exchange Number of cryptocurrencies offered Trading Fees Withdrawal fees Fund Transfer methods Exemption from Payment Services Act by MAS My picks Gemini 71 0.35% (Active trader) Free FAST, Bank Transfer, Credit Card, Apple & Google Pay Yes (GEMINI TRUST COMPANY, LLC) Best overall Cryptocurrency Exchange Kucoin 584 0.1% Varies with coin/token Bank Transfer, PayPal, P2P No Widest range of crypto offerings FTX 320 0.07% Free, except for ETH, ERC-20 tokens and small BTC withdrawal Bank Transfer No Cheapest Fees (But note that its not exempted from PAS, and not the best way to transfer fiat) Coinhako 48 1.0% Varies with coin/token FAST, Bank Transfer, Credit Card, Xfers Yes (HAKO TECHNOLOGY PTE. LTD.) Tokenize Exchange 66 0.8% Varies with coin/token Xfers Yes (Amazingtech Pte Ltd) Coinbase 144 0.5% Varies by method Credit card, ĉu binance kaj binance estas samaj Debit card Yes (COINBASE SINGAPORE PTE. LTD.) Crypto.com 165 0.4% Varies with coin/token Credit Card, Xfers Yes (FORIS DAX ASIA PTE. LTD.) itBit by Paxos 5 0.35% "Market Network" fee Bank Transfer Yes (PAXOS GLOBAL PTE. LTD.) Binance.com 358 0.1% Varies with coin/token nil No binance cryptocurrency exchange
.sg has stopped its services in Singapore too.
I will share with you which I think is the best for each category.
Best Cryptocurrency Exchange: Gemini.
I mainly use this cryptocurrency exchange now. I like the clean and easy-to-use interface. Some users will complain about the lack of features but that’s what makes it simple to use!
I think Gemini will be good for beginners and those who just want to buy and HODL where rich features are redundant. It also offers a regular investment function whereby you can customise your frequency of investment if you wish to DCA on cryptocurrencies. This is friendly for those with smaller capital but has a regular income to invest small amounts periodically.
Gemini does not offer the largest number of cryptocurrencies but it should suffice for the majority of the investors who just want to buy the major, "blue-chip" ones. There are 53 cryptocurrencies on Gemini ( updated on 4 Oct 2021 and you should expect it to increase over time ).
Traders won’t be satisfied as there are no advance order types in the Gemini mobile app – no limit orders or stop orders. You can’t even key in the price you want to buy. You just key in the amount and you take the market order.
That said, Gemini has recognised this need and has a separate platform called the ActiveTrader, if you want advance order types and more features that you would normally expect from a good stock broker.
The more important thing is that you pay lower commissions, just 0.35% vs 1.49% charged on the mobile app! That’s a 4x savings! So, remember to use Gemini ActiveTrader to place a trade .
No Withdrawal Fees.
The best thing that I like about Gemini is that it has NO WITHDRAWAL FEES – this is not the norm because most exchanges charge fees when you withdraw the cryptocurrencies to another address. I will share more details in the later paragraphs.
Gemini accepts SGD transfer. You can conveniently use FAST transfer on your banking app to transfer SGD from your bank account to your Gemini wallet. There’s a maximum S$20,000 per deposit though.
You can sign up using my affiliate link should you be keen.
Best for Variety of Coins: KuCoin.
KuCoin offers 469 coins on its exchange but it isn’t the largest. Hotbit is the largest with 1,152 coins! But the Exchange Score by CoinMarketCap is too low for Hotbit which makes it hard for investors to trust.
The exchanges with good Exchange Score that are offering a large number of tokens are Gate.io, KuCoin and بائنس ڪيڪ جي تصديق
I have used binance cryptocurrency exchange
(international and not the Singapore version) and I would prefer to continue using it if not for the issue with the law. Binance announced to halt trading services in Singapore and advised us to withdraw fiat money from our accounts.
As for Gate.io, it did not offer a token I wanted despite it offering so many coins. This is rather weird to me.
Hence, KuCoin is the best option I have after considering the above. Although KuCoin had a run-in with the Singapore Court when the latter locked its web domain to prevent it from migrating out of the country, it isn’t as severe as binance cryptocurrency exchange
where trading is prohibited.
Funding fiat is an issue for KuCoin and what I did was to transfer crypto instead. This also means that withdrawing fiat is not possible too. It is a small problem if you are a long term holder of crypto and not thinking of cashing them out in fiat.
In terms of UI, バイナンス暗号通貨交換会社 I find KuCoin’s interface similar to Binance except that it has 3 types of accounts:
Main Account (for depositing, transferring and lending) Trading Account (for trading the spot market) Futures Account (for trading the futures market)
It doesn’t cost anything to transfer among these accounts and it is instantaneous.
The spot trading interface looks similar to what other crypto exchanges offer too:
If you like to buy many different coins, you need to choose an exchange that has a wide offering with a good Exchange Score. KuCoin is one of the best choices for now.
Here’s the link to my referral for KuCoin.
Best for Low Trading Fees: FTX.
There’s no point using the lowest cost crypto exchange if it is buggy or unsecured. Hence, I prefer to look at the top crypto exchanges and compare their fees.
We limit the comparison to spot trading fees because that’s what most investors would use instead of futures trading. Usually, desktop trading would be the cheapest so we would skip the comparison for app trading fees. And lastly, some crypto exchanges offer volume discounts on their fees by tiers but we will only compare the most expensive tiers.
Drum roll… and the cheapest crypto exchange goes to FTX!
Comparison of fees for different cryptocurrency exchanges.
Cryptocurrency Exchange Fees in % FTX 0.07% (discounts if you hold FTX coins) Binance 0.1% (25% off if using BNB to pay for the fee) KuCoin 0.1% (discounts if you hold KCS coins and active trading) Okex 0.1% Huobi 0.2% (discounts if you hold HT coins) Kraken Pro 0.26% Gemini ActiveTrader 0.35% itBit by Paxos 0.35% Crypto.com 0.4% Coinbase Pro 0.5% Tokenize 0.8% Coinhako 1.0%
FTX currently ranked third on CoinMarketCap’s Exchange Score ranking and it is an increasingly well-known name among investors. With all the problems mounting on Binance, it would be one of the major destinations for crypto investors to shift their holdings to.
The FTX trading platform is similar to most other crypto trading interfaces so you should not have troubles adapting to it.