In the increasingly crypto-friendly landscape of Singapore, where individual investors benefit from a 0% capital gains tax, navigating through the myriad options of crypto exchanges to find the most suitable platform can be daunting. This article meticulously examines the six best crypto exchanges in Singapore: Binance, OKX, Coinbase, Crypto.com, CoinHako, and Bitrue. Leveraging Similarweb data, the analysis goes beyond just popularity, delving into each platform’s features, trading fees, fiat deposit methods, security measures, and customer service options. Ultimately, this comprehensive guide provides a well-rounded evaluation enabling you to make an informed decision tailored to your crypto trading needs. Have you been considering investing in cryptocurrency in Singapore but are unsure of which exchanges to use? Choosing the right platform is critical for a smooth and secure trading experience. In this comprehensive article, we’ll explore the top six crypto exchanges available in Singapore, examining their features, fees, deposit methods, security measures, and customer support. With the increasing interest in cryptocurrency as an asset class, it’s essential to be informed about your options.
6 Best Crypto Exchanges in Singapore
What Are the Top 6 Crypto Exchanges in Singapore?
With a 0% capital gains tax for individual investors, Singapore is considered one of the most crypto-friendly countries for trading. According to Similarweb data, the leading centralized crypto exchanges in Singapore based on user numbers are Binance, OKX, Coinbase, Crypto.com, CoinHako, and Bitrue.
Key Takeaways
- Singapore stands at the forefront of cryptocurrency trading, partly due to its 0% capital gains tax policy for individual investors.
- Digital Payment Tokens (DPTs) like cryptocurrencies are regulated by the Monetary Authority of Singapore (MAS).
- Based on traffic, the top exchanges in Singapore are Binance, OKX, Coinbase, Crypto.com, CoinHako, and Bitrue.
Crypto in Singapore
Almost 16 percent of Singaporeans own some form of cryptocurrency, placing Singapore sixth in the world for crypto ownership among 22 countries surveyed. This high adoption rate aligns with Singapore’s global status as a financial hub and its attractive 0% capital gains tax on individual investments in crypto.
Crypto Regulation in Singapore
In Singapore, cryptocurrencies are categorized as Digital Payment Tokens (DPTs) and are governed by stringent regulatory measures under the oversight of the MAS.
Regulatory Framework
The MAS requires all crypto exchanges operating within Singapore to comply with Know Your Customer (KYC) procedures. This mandates users to verify their identities, and exchanges must maintain accurate records of transactions and user details. The MAS first rolled out its regulatory framework in 2020 and has been continuously updating it to ensure the safety of retail investors.
In the sections to follow, we’ll delve into the top six exchanges, discussing their unique features, fee structures, deposit methods, security protocols, and customer service.
Binance
Binance is one of the largest global crypto exchanges, catering to over 200 million users. However, the MAS has restricted Binance’s payment services within Singapore, and the exchange is on the MAS Investor Alert List for not being licensed to provide payment services.
Features Offered
Binance provides a range of features including spot, futures, and options trading. Advanced functionalities like trading bots, copy trading, and APIs are also available.
Trading and Other Fees
Binance uses a VIP program to categorize its users based on their trade volume and BNB (Binance Coin) holdings. The fee structure is as follows:
Level | 30-Day Trade Volume (USD) | and/or | BNB Balance | Spot Pairs Maker Fee | Spot Pairs Taker Fee | USDC Pairs Maker Fee | USDC Pairs Taker Fee |
---|---|---|---|---|---|---|---|
Regular |
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