Best Crypto Exchanges in Singapore

Best Crypto Exchanges in Singapore

Daniel Chan

September 21, 2022

Cryptocurrency

Cryptocurrency Exchange Lists

Best cryptocurrency exchanges in Singapore for 2022

  1. Gemini – Best Crypto Exchange in Singapore
  2. Kraken – Plenty of Features & Easy to Use
  3. FTX – Best Advanced Trading Platform
  4. Crypto.com – Best Mobile Crypto App
  5. Zipmex – Headquartered in Singapore
  6. Independent Reserve - Best for High Volume Investors
  7. Changelly
  8. Bittrex
  9. Coinmama
  10. Localbitcoins.com
  11. Cash App
  12. Skrill crypto options

Best cryptocurrency exchanges in Singapore for 2022

  • Gemini – Best Crypto Exchange in Singapore
  • Kraken – Plenty of Features & Easy to Use
  • FTX – Best Advanced Trading Platform
  • Crypto.com – Best Mobile Crypto App
  • Zipmex – Headquartered in Singapore
  • Independent Reserve - Best for High Volume Investors
  • Changelly
  • Bittrex
  • Coinmama
  • Localbitcoins.com
  • Cash App
  • Skrill crypto options

Best cryptocurrency exchanges in Singapore for 2022

ExchangeRatingFees
Gemini9.90.30%
Kraken9.80.20%
FTX9.60.30%
Crypto.com9.40.50%
Zipmex9.41.30%
Independent Reserve
90.80%
Changelly8.80.10%
Bittrex8.50.30%
Coinmama8.40.90%
Localbitcoins.com8.30.60%
Cash App7.60.35%
Skrill crypto options72.20%

Cryptocurrency has seen a huge boost in popularity this decade, with many new investors in Singapore jumping on board. No one wants to miss out on the next bull run and a chance at a big pay day, but you need to make sure you are using a trustworthy crypto exchange that is legitimate and secure. There are lots of safe crypto exchanges, but there are also plenty of scams that take advantage of your lack of knowledge. To get you started safely, at Marketplace Fairness we test out all exchanges before we recommend them, and we won't list any that are found to be scams. You can trust the information you find on our site to be accurate, up to date, and based on data and tests.

We hope we can help you start a lifelong crypto journey, and we'll begin with our list of the best crypto exchanges in Singapore.

Best Crypto Exchanges in Singapore for 2022

  1. Gemini Exchange - Best overall in Singapore, and most secure
  2. Kraken Exchange - Best for low fees
  3. Crypto.com App - Best for staking
  4. Zipmex Exchange - Best Singaporean-based exchange
  5. Independent Reserve Exchange - MAS approval, and best for crypto insurance

To find the best exchange depends on what you are looking for, and what type of investor or trader you are. It can also be beneficial to try out a few platforms to see which one you prefer, since the best for someone else may not be suitable for you. 

Best Cryptocurrency Exchanges in Singapore for 2022: Reviews

#1. Gemini Crypto Exchange (Most Secure in Singapore)

One of the most important factors to take into account when you choose a cryptocurrency platform is whether it is legitimate and secure. Gemini is one of the most secure crypto exchanges in the world. It was founded in the USA by the Winklevoss twins in 2014, and is regulated by the NYSDFS, with FDIC protection for their US Dollars. 

Gemini maintains industry-leading standards for their security and operational compliance, having completed SOC 1 Type 1 & Type 2, and SOC 2 Type 1 & Type 2 examinations, and hold ISO 27001 certification. Gemini is the world’s first cryptocurrency custodian and exchange to meet this incredibly high standard of financial operations and security compliance, and has never been hacked since its inception.

Gemini is perfect for Singaporean users, as it accepts direct deposits in SGD, so you can start trading right away, with over 90+ different cryptocurrencies. The exchange is great for both beginners and experienced crypto investors, as there are two different interfaces that you can easily switch between. There is a basic interface to get newcomers comfortable with cryptocurrency, and a more advanced trading platform that seasoned traders will enjoy. 

Gemini also offers a wide array of additional features such as Gemini Earn, Gemini Pay, Gemini Wallet and Gemini Custody that make their platform worth exploring. There is also a mobile app so you can always keep an eye on your portfolio, and trade no matter where you are.

Trading fees are not the lowest on the market, but you are paying for the peace of mind that comes with using one of the world's most secure crypto exchanges. Maker fees are 0.25% and taker fees are 0.35%, and they can both be reduced if you are a high-volume trader.

  • Security comes first with Gemini, and a heavy focus on regulation and compliance means your funds are extremely safe, with insurance cover as well
  • Offers 90+ cryptocurrencies that you can buy with SGD
  • Offers a huge number of options: Direct buying, Advanced ActiveTrader interface, Auction support, and Electronic block trades
  • High liquidity due to a large customer base

#2. Kraken Cryptocurrency Exchange (Best for Low Fees)

Kraken is a very popular cryptocurrency exchange based in the US, offering spot trading, margin trading and futures contracts. They have low fees (0.16% for makers, 0.26% for takers), excellent security measures and additional features, like staking and forex trading. 

What makes Kraken such an attractive crypto platform is that it is very simple to use, perfect for beginners, yet offers a wide range of more than 185+ different coins. They are also very focused on customer support, with 24/7 live chat available so you can always receive assistance if you ever need it. 

  • Low trading fees of 0.16% for makers and 0.26% for takers
  • Access to over 185+ cryptocurrencies
  • Live Chat support available 24/7
  • Additional features include futures trading, margin trading, forex trading, OTC desk

#3. Crypto.com App (Best for Staking)

Crypto.com is an excellent crypto exchange app, supporting over 250+ different cryptocurrencies, and the ability to stake over 40+ coins. Users can earn up to 12.5% interest from staked coins, and this varies based on the lock-in period. If you stake for 3 months, you receive a higher interest rate than for 1 month, which in turn earns you more than flexible staking, where you can withdraw at any time. If you stake Crypto.com's own coin - Cronos (CRO) - you can enjoy additional interest on your other staked coins. 

Cronos, or CRO is the native token to the Crypto.com app, and it comes with a variety of benefits that make it worthwhile to stake. When you stake CRO on the mobile app, you receive up to 12% APR, a premium metal Visa card, where you receive up to 5% cashback on purchases (paid in CRO), rebates on subscriptions (Netflix, Spotify) and bookings (Expedia, Airbnb), and higher APR in Crypto Credit and Crypto Earn.

The app is easy to use for buying and selling cryptocurrencies, and the fees are included in the spread, so whatever price you see is the price you receive. There is also live chat support, and if it is busy, they will reply to you via email when they get to your query.

  • Crypto.com Visa debit card with up to 5% cashback on purchases and additional benefits, such as Airport Lounge access
  • Crypto.com's own CRO coin comes with many benefits if you stake on their platform
  • Offers access to more than 250+ cryptocurrencies
  • Insurance cover on cryptocurrencies
  • Staking on over 40+ coins, and receive up to 12.5% APY

Related articles: Crypto.com vs Coinbase

#4. Zipmex Crypto Platform (Best Singaporean Exchange)

Zipmex was founded in Singapore in 2018, and is a favourite among locals due to ease of use, support for over 50+ coins, and staking to earn interest on your crypto. Buying, selling and trading crypto is fast and simple, and if you run into any problems, you can reach out to the support team via live chat. Experienced traders will also enjoy using Zipmex, as there are detailed charts, tools and advanced order types for those that need it.

Staking is a great way to grow your cryptocurrency holdings, and there are several ways to do so using Zipmex. There is a flexible staking option, where you can withdraw at any time; a fixed term 45 day option with higher interest rates, and also ZLaunch, where your staked coins will earn you rewards paid out in a different coin. If you stake Zipmex's native token, ZMT, then you will also receive higher interest rates on any staked coins.

Trading fees are a low 0.2% for makers and takers, and you can reduce this by staking ZMT. For example, if you have 100 ZMT staked, your fee is reduced to 0.18%.

  • Over 50+ different coins to buy, sell and trade
  • Flexible and fixed staking options supported
  • Trading fees of 0.2% which can be discounted if you stake Zipmex Token (ZMT)
  • Live chat support available to help with problems

#5. Independent Reserve Exchange (MAS Approval, and Best for Crypto Insurance)

Independent Reserve is a longstanding crypto platform that was established in Australia in 2013, and has expanded to service the market in Singapore. Singaporean users can easily access this exchange; not only is SGD one of the supported fiat currencies but Independent Reserve has been granted approval by MAS (Monetary Authority of Singapore) to operate. Independent Reserve is known for their optional cryptocurrency insurance, which is a great option for those holding large amounts of digital assets. 

The insurance is included when you purchase a Premium Account, with the level of cover dependent on which level account you opted for. If you choose a Starter account, the annual fee is just $300, and you receive insurance cover for up to $20,000 of cryptocurrencies, and receive premium customer support via phone. If you are a big-time investor, you can increase your cover, with the higher level being the Diamond account. The annual fee is a whopping $35,000, but you receive insurance cover for up to $5 million worth of digital assets. 

The trading fees on Independent Reserve are 0.5%, which is a bit higher than other exchanges in Singapore, but this can be reduced if you are a high-volume trader. Another downside is the limited range of only 27 cryptocurrencies, but if you are only focusing on the popular coins, this shouldn't bother you too much.

  • Supports SGD, so no need for currency conversions
  • 27 cryptocurrencies available
  • Premium accounts receive telephone support and crypto insurance cover

Frequently Asked Questions

Is Singapore banning crypto?

As far as we are aware, there are no intentions to ban crypto in Singapore. However, The Monetary Authority of Singapore (MAS) has placed some limitations on advertising and promoting of cryptocurrency services, to protect investors.

List of MAS approved crypto exchanges in Singapore?

Currently, Independent Reserve (read review) and DBS Vickers are the only MAS approved crypto exchanges in Singapore. Other crypto exchanges in Singapore are operating under exemptions as MAS transitions to a formalised, licensing framework under the Payment Services Act.

Is Crypto.com legit in Singapore?

Yes, Crypto.com is a legit crypto app that Singaporeans can use to buy, sell and stake cryptocurrency. You can read more about Crypto.com here.

Is Binance legal in Singapore?

Binance no longer operates in Singapore, so Singaporean residents will need to choose another crypto exchange. See our list above for the best crypto platforms in Singapore.

Can I use Coinbase in Singapore?

Yes, Coinbase is available in Singapore but with heavy restrictions on its usage. You cannot sell your cryptocurrency on Coinbase in Singapore, nor can you withdraw SGD from the exchange. There are many better options for Singaporeans, as you can see in our list of best exchanges above.

Is KuCoin legal in Singapore?

There have been legal issues with KuCoin operating in Singapore, and although some users may continue to trade on KuCoin, we would not recommend taking that risk. It is safer to use one of the recommended trading platforms from our list above. FTX is a great alternative to KuCoin.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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