[Updated January 2024]
Cryptocurrency exchanges serve as both brokers and marketplaces, differing from traditional stock trading where multiple brokers access the same exchange. Key factors like fees, liquidity, coin variety, and regulatory compliance vary widely across platforms. With over 229 exchanges globally (CoinMarketCap), choosing the right one requires careful evaluation.
Key Considerations When Choosing a Crypto Exchange
- Cryptocurrency Variety: Number of supported coins/tokens.
- Fee Structure: Trading, withdrawal, and deposit fees.
- Fund Transfers: Supported payment methods (e.g., FAST, credit cards).
- Regulatory Compliance: MAS exemptions or MPI licenses.
Top Crypto Exchanges in Singapore (2024)
| Exchange | Coins Offered | Trading Fees | Withdrawal Fees | Funding Methods | MAS Compliance | Notes |
|------------------|---------------|--------------|------------------|-----------------------------------|------------------------------|--------------------------------|
| Crypto.com | 523 | 0.075% | Variable | FAST, Credit Card (3.5%), StraitsX (0.5%) | Exempted (FORIS DAX ASIA) | Low fees, user-friendly app. |
| Tokenize Xchange | 90 | 0.6% | Variable | GrabPay (1.5%), StraitsX (0.3%) | Exempted (Amazingtech) | Singapore HQ, membership tiers.|
| Coinbase | 238 | 0.6% | 1% + network fees| FAST, Credit Cards | Exempted (COINBASE SG) | Listed company, high trust. |
| Coinhako | 67 | 0.6% | Variable | PayNow, GrabPay (2.8%), StraitsX | MPI Licensed (May 2022) | Local startup, easy onboarding.|
👉 Compare fees and features across top exchanges
Best Picks by Category
1. Lowest Fees: Crypto.com
- Spot trading fee: 0.075% (reduced by 80% in 2022).
- Pros: FAST deposits, 500+ coins, staking discounts.
- Cons: Reduced card perks recently.
2. Easiest Deposits: Coinhako
- Local favorite: SGD transfers via PayNow/GrabPay.
- MPI Licensed: Ensures regulatory adherence.
3. Singapore-Based: Tokenize Xchange
- Membership tiers: Lower fees for Premium/Platinum users.
- TKX token staking: Required for top-tier perks.
FAQs
Q: Is Binance available in Singapore?
A: Binance.sg ceased operations in February 2022. The international platform is restricted for Singapore users.
Q: Are crypto assets insured in Singapore?
A: No. Unlike bank deposits, cryptocurrencies lack SDIC coverage. Self-custody via hardware wallets is recommended.
Q: Which exchange has the most coins?
A: Crypto.com offers 523+ cryptocurrencies, the widest selection in Singapore.
👉 Learn about secure crypto storage options
Conclusion
Prioritize exchanges with MAS compliance, competitive fees, and robust security. Diversify holdings across platforms and use self-custody wallets for long-term storage. For updates, check MAS’s official lists.
Share your favorite exchange in the comments!
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### Formatting Notes:
- Structured with **hierarchical headings** for readability.
- **Markdown tables** compare exchanges clearly.
- Anchor texts link to a trusted external resource (OKX).