Singapore has emerged as one of the most crypto-friendly jurisdictions globally, thanks to its favorable regulatory environment and 0% capital gains tax for individual investors. As a leading financial hub in Asia, it continues to attract both retail and institutional participants in the digital asset space. Based on web traffic data and user engagement metrics, this guide explores the top six centralized cryptocurrency exchanges widely used by Singaporeans in 2025.
Why Singapore Is a Crypto-Friendly Hub
Approximately 16% of Singapore residents own some form of cryptocurrency, placing the country sixth globally in adoption rates among surveyed nations. This growing interest is supported by a clear and forward-thinking regulatory framework established by the Monetary Authority of Singapore (MAS). Cryptocurrencies are legally recognized as Digital Payment Tokens (DPTs), allowing regulated trading while ensuring investor protection.
MAS requires all exchanges operating in Singapore to implement strict Know-Your-Customer (KYC) procedures, maintain transaction records, and adhere to anti-money laundering (AML) standards. These measures foster trust and transparency, making Singapore a preferred destination for compliant crypto platforms.
👉 Discover a secure and feature-rich exchange trusted by millions worldwide.
The Leading Cryptocurrency Exchanges in Singapore
Below is an in-depth analysis of the six most prominent exchanges based on functionality, fees, security, and user experience.
Binance – Global Scale with Regulatory Challenges
Once the most visited exchange in Singapore, Binance serves over 200 million users globally. However, in May 2024, MAS prohibited Binance from offering payment services in the country and added its website to the Investor Alert List due to lack of a valid license.
While Singaporean users can still access the platform without a VPN, Binance is restricted from running promotions or referral programs targeting local users. Its mobile app has also been removed from local app stores.
Key Features:
Binance supports spot, futures, and options trading, along with advanced tools like copy trading, algorithmic bots, and API access.
Fee Structure:
The exchange uses a tiered VIP system based on 30-day trading volume and BNB holdings. Fees range from 0.1000% for standard users down to 0.0120% for VIP 9, with lower rates for market makers.
Fiat Deposits:
Users can deposit via Visa and Mastercard with a 2% processing fee.
Security Measures:
Binance maintains a 1:1 Proof of Reserves (PoR), audited monthly using zero-knowledge proofs. Most funds are stored in cold wallets, and the SAFU fund holds over $1 billion in USDC to protect users during emergencies.
Customer Support:
Support includes AI chatbots, live chat, and assistance through official Discord and Telegram channels.
OKX – Innovation Meets Compliance
OKX, formerly known as OKEx, ranks among the world’s top-tier exchanges with over 50 million users. In March 2024, it received in-principle approval from MAS to operate as a Major Payment Institution in Singapore.
Trading Offerings:
The platform provides spot, futures, and options trading with high liquidity across major pairs.
Fee Model:
Users are classified into tiers based on OKB holdings or asset levels (for VIPs with $100K+). Standard maker fees start at 0.080%, decreasing to 0.060% for higher tiers. Taker fees follow a similar reduction pattern.
Fiat Access:
Deposits via Visa and Mastercard are supported, offering fast onboarding for new users.
Security & Transparency:
OKX maintains a 1:1 PoR ratio and publishes monthly reserve reports for 22 major tokens including BTC, ETH, USDT, and SOL. This transparency builds confidence among users concerned about asset backing.
Support Channels:
An automated chatbot with video tutorials assists users, complemented by live chat and community support via Telegram and Discord.
👉 Start trading on a platform that combines innovation, security, and regulatory compliance.
Coinbase – User-Friendly and Regulated
As a MAS-licensed exchange, Coinbase integrates with Singpass for seamless identity verification—making account setup quick and secure for Singaporeans.
Platform Features:
Coinbase offers spot trading, futures, perpetual contracts, and staking options for assets like DOT and USDC.
Pricing:
The fee structure is volume-based. For example, stablecoin pairs have a taker fee of just 0.001%, with makers paying 0%. This makes it highly competitive for high-frequency traders.
Deposit Methods:
Users can deposit SGD via PayNow and FAST transfers, USD via SWIFT, or use credit/debit cards (Visa/Mastercard).
Security Protocols:
Coinbase claims a 1:1 asset reserve ratio. It stores 98% of digital assets offline and enforces mandatory two-factor authentication (2FA). The Vault feature allows delayed withdrawals (up to 48 hours) and multi-signature approvals for joint accounts.
Support Options:
A virtual assistant handles basic queries, with human support available via phone and live chat.
Crypto.com – Broad Asset Selection
With over 80 million users globally, Crypto.com supports trading across more than 350 cryptocurrencies.
Trading Capabilities:
Includes spot, futures, and perpetual contracts. Staking is available for multiple tokens including CRO, DOT, and USDC.
Fee Schedule:
Uses a volume-based tier system. Holding CRO (the native token) unlocks additional discounts—up to 50% off fees when staking 1,000+ CRO.
Funding Options:
SWIFT transfers (USD) are supported. Users can also buy crypto via card through the app and transfer to the exchange wallet.
Security Framework:
Claims 100% asset security with 1:1 PoR. Implements multi-factor authentication (MFA) requiring password, biometrics, email, SMS, and authenticator app verification.
Singapore users benefit from an Account Protection Program offering up to $250,000 compensation per incident for unauthorized access—subject to eligibility conditions.
Customer Service:
Available 24/7 via live chat and comprehensive help center resources.
CoinHako – Localized for Singapore
Headquartered in Singapore, CoinHako supports trading in over 100 cryptocurrencies and integrates with Singpass for instant registration.
Core Services:
Focuses on spot trading and direct fiat-to-crypto conversions using SGD.
Fee Details:
Charges a fixed trading fee with potential discounts through its loyalty rewards program. Withdrawal fees are set at SGD 2 or USD 50.
Fiat On-Ramps:
Accepts PayNow, FAST bank transfers, GrabPay (with 2.8% fee), and card payments via Visa/Mastercard.
Security Setup:
Enables two-factor authentication (2FA) to enhance account protection.
Support Experience:
Users can access FAQs or submit tickets through the help portal.
Bitrue – High Liquidity in XRP Markets
Known for deep liquidity in XRP trading pairs, Bitrue offers up to 1,000 trading pairs.
Trading Tools:
Provides spot trading, ETF-like products, leverage options, and staking rewards.
Fee Breakdown:
Standard BTC/ETH/USDT pairs incur a 0.098% fee. XRP/BTC, XRP/USDT, and XRP/ETH pairs are charged at 0.196%, while other XRP pairs go up to 0.280%. Futures fees vary by pair.
Deposit Channels:
Accepts Apple Pay, Visa, and Mastercard deposits—ideal for mobile-first users.
Security Approach:
While not yet publishing Proof of Reserves, Bitrue has announced plans to do so. It operates a public "Bitrue Insurance Fund" with transparent wallet addresses holding more than hot wallet balances—ensuring verifiable protection against breaches.
Support Infrastructure:
Includes FAQ access, ticket submission, and live chat support.
Frequently Asked Questions
Is cryptocurrency legal in Singapore?
Yes. Cryptocurrencies are classified as Digital Payment Tokens (DPTs) under Singapore law and are legal to trade and hold. However, they are not considered legal tender.
Are my funds safe on these exchanges?
Reputable platforms like OKX, Coinbase, and Crypto.com maintain strong security practices including cold storage, Proof of Reserves, insurance funds, and mandatory 2FA. However, it's always recommended to withdraw large holdings to self-custody wallets.
Do I pay taxes on crypto gains in Singapore?
Individual investors enjoy 0% capital gains tax on cryptocurrency profits in Singapore. However, businesses or traders engaged in frequent trading may be subject to income tax.
Which exchange has the lowest fees?
Binance and OKX generally offer lower trading fees due to tiered structures based on volume or token holdings. For high-volume traders, these platforms provide significant cost advantages.
Can I deposit SGD directly into crypto exchanges?
Yes. Several exchanges—including Coinbase, CoinHako, and Crypto.com—support SGD deposits via PayNow or FAST bank transfers.
Should I use a local or global exchange?
Local platforms like CoinHako offer better SGD integration and faster KYC via Singpass. Global exchanges like OKX and Coinbase provide broader trading options and advanced features. Your choice depends on whether you prioritize convenience or functionality.
👉 Compare real-time fees, features, and security across leading platforms today.
Final Thoughts
Choosing the right cryptocurrency exchange depends on your priorities—be it low fees, ease of fiat access, security transparency, or advanced trading tools. While Binance remains popular despite regulatory restrictions, platforms like OKX and Coinbase stand out for their compliance with MAS regulations and robust infrastructure.
As the crypto landscape evolves in 2025, staying informed about platform reliability, fee structures, and self-custody best practices will empower you to make smarter investment decisions in Singapore’s dynamic digital asset market.
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