Compare Crypto Exchanges in Singapore

Singapore has firmly established itself as a leading global fintech hub, and its approach to cryptocurrency is no exception. With a clear and progressive regulatory framework under the Monetary Authority of Singapore (MAS), the Lion City offers a relatively secure and conducive environment for digital asset trading. For both seasoned crypto enthusiasts and curious newcomers, choosing the right cryptocurrency exchange in Singapore is paramount to a secure, efficient, and ultimately successful digital asset journey.

In 2025, the crypto exchange landscape in Singapore is more mature and competitive than ever. A range of MAS-licensed platforms, alongside globally recognised names, are vying for your business, each offering distinct features, fee structures, and user experiences. This comprehensive guide will delve into the critical factors you need to consider when comparing crypto exchanges, helping you make an informed decision that aligns with your investment goals, risk tolerance, and trading style.

The Importance of Choosing a MAS-Licensed Exchange

In Singapore, the Payment Services Act (PS Act) of 2019, enforced by the MAS, provides a robust regulatory framework for digital payment token (DPT) service providers, which includes cryptocurrency exchanges. As of mid-2025, all crypto exchanges and service providers operating in Singapore must obtain a Digital Token Service Provider (DTSP) license under the PS Act. Furthermore, the Financial Services and Markets Act 2022 (FSMA), which came into operation on June 30, 2025, extends licensing requirements to DTSPs serving overseas clients from Singapore, solidifying Singapore’s commitment to comprehensive regulation.

Opting for an MAS-licensed exchange offers several crucial advantages:

• Investor Protection: MAS-licensed platforms adhere to strict regulatory standards, including robust anti-money laundering (AML) and counter-financing of terrorism (CFT) measures, ensuring a higher level of security for your funds and data. They are subject to MAS oversight regarding safeguarding customer funds and ensuring adequate cybersecurity.
• Operational Transparency: Licensed exchanges are subject to ongoing scrutiny, promoting transparency in their operations, fees, and security practices. This includes requirements for regular audits and reporting to the MAS.
• Legal Compliance: Trading on a regulated platform ensures you are operating within the legal boundaries set by Singaporean authorities, reducing the risk of encountering issues with financial regulations or unknowingly participating in illicit activities.
• Reduced Risk: MAS licensing helps to filter out illegitimate or poorly run exchanges, mitigating the risk of fraud, platform collapse, or significant operational failures. While no investment is without risk, dealing with a regulated entity provides a fundamental layer of trust.

You can verify a crypto exchange’s licensing status directly on the official MAS Financial Institutions Directory. Always check this before committing funds.

Key Criteria for Evaluating Crypto Exchanges in Singapore

Selecting the ideal crypto exchange requires careful consideration of several key factors:

1. Fees (The True Cost of Trading):

• Trading Fees (Maker/Taker): These are perhaps the most significant ongoing cost. Maker fees are for orders that add liquidity to the order book (e.g., limit orders), while taker fees are for orders that immediately remove liquidity (e.g., market orders). Look for competitive rates, often tiered based on your trading volume. Some exchanges offer discounts for holding their native token (e.g., Crypto.com’s CRO).
• Deposit & Withdrawal Fees: Check fees for depositing fiat (SGD) or crypto and for withdrawing both. Fees for SGD deposits via PayNow or FAST/MEPS are often free on MAS-licensed platforms, which is a major advantage for local users. For crypto withdrawals, fees often vary by network congestion.
• Currency Conversion/Spread Fees: If you’re trading between different cryptocurrencies or converting fiat to crypto, be aware of the spread – the difference between the buy and sell price. This can be a hidden fee that impacts your effective cost per trade, especially for less liquid pairs.
• Inactivity Fees: Some platforms may charge a fee if your account remains dormant for an extended period. Ensure you’re aware of such clauses if you plan to hold crypto long-term without frequent trading.
• Staking/Earning Fees: If you plan to earn yield on your crypto through staking, lending, or other programmes, understand any fees or commission structures applied to your earnings.

2. Available Cryptocurrencies (Asset Variety):

• Major Cryptos: Ensure the exchange supports popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and widely used stablecoins such as USDT and USDC. These form the backbone of most crypto portfolios.
• Altcoins & DeFi Tokens: If you’re interested in diversifying into a broader range of digital assets, check if the exchange lists various altcoins, DeFi tokens, NFTs, or even meme coins. Be mindful that MAS has implemented measures to protect retail investors from highly speculative crypto activities, so some exchanges might have restrictions.
• New Listings: Some exchanges are quicker to list new, trending tokens, offering opportunities for early adoption (though with correspondingly higher risk and volatility).

3. Security & Reliability (Protecting Your Assets):

• MAS Regulation: As mentioned, this is paramount. An MAS license signifies adherence to stringent regulatory standards.
• Cold Storage: A significant portion of client funds should be held in “cold storage” (offline wallets) to protect against online hacks. This minimises the impact of potential cyber breaches.
• Two-Factor Authentication (2FA): Essential for account login, withdrawals, and critical account changes. Use a robust 2FA method like an authenticator app rather than SMS.
• Insurance: While not universal, some exchanges offer insurance on fiat or crypto assets against certain types of breaches or custodial failures, providing an added layer of protection. It’s important to understand the specifics of any insurance policy.
• Proof of Reserves (PoR): Look for exchanges that regularly publish Proof of Reserves, demonstrating that they hold the assets they claim to hold on behalf of users. This adds a layer of transparency and trust.
• Reputation & Track Record: Consider the exchange’s history, any past security incidents, and how they were handled. A long history of secure operation is a positive sign.

4. User Experience & Features (Ease of Use):

• Beginner-Friendliness: Is the interface intuitive and easy to navigate for someone new to crypto? Does it offer simplified “buy/sell” options alongside more advanced trading views?
• Advanced Trading Tools: For experienced traders, features like advanced charting (with numerous technical indicators), various order types (limit, stop-loss, OCO – One Cancels the Other), margin trading, futures, and options can be crucial.
• Mobile App: A robust and user-friendly mobile application is essential for trading on the go, allowing you to monitor your portfolio and execute trades anytime, anywhere.
• Fiat On/Off-Ramps: Ease of depositing and withdrawing Singapore Dollars (SGD) using local payment methods like PayNow and FAST bank transfers is a significant convenience and often a key differentiator for Singaporean users.
• Staking & Earning Opportunities: If you’re looking to earn passive income on your crypto holdings, evaluate the staking programmes, lending, or yield farming options available and understand the risks involved.
• Educational Resources & Community: Some exchanges offer extensive learning materials, tutorials, and even community forums, which can be invaluable for new users to build their understanding of crypto.

5. Customer Support:

• Responsiveness: How quickly do they respond to queries? In the fast-paced crypto world, timely support is critical.
• Channels: Do they offer multiple support channels, such as live chat, email, and phone support? Localised support for Singaporean users can be a plus.
• Knowledge Base: A comprehensive FAQ section or knowledge base can help users self-resolve common issues quickly, reducing reliance on direct support.

Leading Crypto Exchanges in Singapore (2025)

Here’s a comparison of some of the most prominent MAS-licensed or reputable crypto exchanges accessible to Singaporean users, considering the above criteria. Keep in mind that features and fees are dynamic and can change, so always check the latest information directly on the exchange’s website.

1. Crypto.com

• Overview: A global powerhouse with a strong presence in Singapore, Crypto.com offers a comprehensive ecosystem including an exchange, wallet, DeFi products, and a popular crypto Visa card. It is one of the few MAS-licensed exchanges, receiving its Major Payment Institution license for Digital Payment Token services in June 2022.
• Strengths for Singapore Users:

• MAS-Licensed: Fully regulated in Singapore, offering a high degree of trust and security.
• SGD Support: Seamless SGD deposits and withdrawals via FAST network.
• Wide Crypto Selection: Supports over 400 cryptocurrencies, providing extensive diversification options.
• Ecosystem: Benefits from its integrated ecosystem, including the Crypto.com Visa Card (for spending crypto in SGD), staking, and DeFi services, allowing for various crypto use cases beyond just trading.
• Mobile-First: Excellent, intuitive mobile app, making it convenient for on-the-go trading and portfolio management.
• Key Considerations: Trading fees (maker/taker) are competitive but may not always be the absolute lowest for very small volumes, though they offer discounts for holding their native CRO token. Some features within its vast ecosystem can be overwhelming for absolute beginners due to the sheer breadth of offerings.

2. Coinbase Exchange

• Overview: A globally recognized and publicly traded US-based exchange, Coinbase is renowned for its user-friendly interface, strong security, and appeal to beginners. It holds a Major Payment Institution license from MAS as of August 2024, enabling it to provide cryptocurrency services to retail and institutional investors in Singapore.
• Strengths for Singapore Users:
  • MAS-Licensed: Provides a reliable and compliant option for Singaporean investors, backed by a strong global reputation.
  • Beginner-Friendly: Known for its clean, intuitive interface, making it very accessible for new crypto users to buy, sell, and manage their holdings.
  • SGD Deposits/Withdrawals: Supports SGD deposits via FAST, PayNow, and bank cards, with a seamless SingPass onboarding process, simplifying local currency transactions.
  • Security: Employs robust security infrastructure and has a strong track record of protecting user assets.
  • Wide Crypto Selection: Offers trading for over 200 cryptocurrencies, covering most major and many popular altcoins.
• Key Considerations: While user-friendly, its standard trading fees can be higher than some competitors for basic spot trades. However, Coinbase Advanced offers lower fees for more active and experienced traders.

3. Gemini

• Overview: Co-founded by the Winklevoss twins, Gemini prides itself on security, regulatory compliance, and a strong focus on institutional-grade services, while also catering to retail investors. It received In-Principle Approval (IPA) for a Major Payment Institution license from MAS and completed its transition to the MAS-licensed entity, Gemini Digital Payments Singapore, Pte. Ltd. on April 2, 2025.
• Strengths for Singapore Users:
  • MAS-Licensed: One of the most highly regulated exchanges globally, instilling significant confidence due to its commitment to compliance.
  • Security: Prioritises security with a significant portion of client funds held in cold storage, robust 2FA, and (for US users) FDIC and crypto insurance. This strong security focus extends to its global operations, including Singapore.
  • SGD Support: Supports SGD deposits and withdrawals via FAST network.
  • User-Friendly: Offers a simple, easy-to-use interface for beginners, alongside the more advanced “ActiveTrader” platform for experienced users seeking more tools.
  • Decent Crypto Selection: Lists over 70 cryptocurrencies, focusing on quality and liquidity.
• Key Considerations: Trading fees can be on the higher side, particularly for smaller trades, compared to some fee-aggressive competitors. While comprehensive, crypto selection is not as extensive as some of the larger, more global exchanges.

4. OKX

• Overview: A global exchange that has made significant inroads into the Singapore market, OKX offers a wide range of trading options from spot to derivatives, catering to both retail and professional traders. It secured its MAS Major Payment Institution license in late 2024.
• Strengths for Singapore Users:
  • MAS-Licensed: Fully compliant with Singaporean regulations, ensuring a trusted trading environment.
  • Low Trading Fees: Offers some of the lowest fees in Singapore, with highly competitive spot trading fees (e.g., 0.08% maker / 0.1% taker) and tiered discounts for high-volume traders, making it cost-effective.
  • Free SGD Deposits: Supports free and instant SGD deposits via PayNow or FAST/MEPS, which is highly convenient for local users.
  • Extensive Crypto Selection: Provides access to over 350 cryptocurrencies, offering vast trading opportunities.
  • Advanced Features: Strong offering for derivatives, futures, and options trading, appealing to experienced and institutional traders.
  • Proof of Reserves: Regularly publishes Proof of Reserves, enhancing transparency and user trust.
• Key Considerations: The platform’s extensive features, especially for derivatives, might be overwhelming for absolute beginners. Customer support can sometimes be less responsive than more localised platforms.

5. Independent Reserve

• Overview: An Australian-based exchange that was one of the first few to receive an MAS license in Singapore. Independent Reserve is known for its strong compliance, security, and focus on providing a reliable platform for both retail and institutional clients. It holds a Major Payment Institution License for providing Digital Payment Token Services.
• Strengths for Singapore Users:
  • Early MAS Adopter: Being one of the first to gain an MAS license demonstrates a strong, early commitment to regulatory compliance in Singapore, building confidence.
  • Security: Prioritises security with robust measures, including the vast majority of digital assets held in secure offline cold storage and ISO 27001 certification. They explicitly state “no commingling of customer funds” and “1:1 reserves.”
  • Local Support: Offers dedicated local customer support, which can be invaluable for troubleshooting and general inquiries.
  • Direct SGD Support: Facilitates direct SGD deposits and withdrawals via FAST/MEPS and PayNow.
• Key Considerations: While very secure and compliant, its fee structure might be slightly higher than some global digital-first competitors for certain transactions. The range of cryptocurrencies might be less extensive than some larger exchanges, focusing more on established assets.

Summary and Recommendations for Singaporean Investors:

• For Beginners and Simplicity: Coinbase and Gemini are excellent choices due to their user-friendly interfaces, straightforward onboarding, and strong focus on security and regulatory compliance.
• For Active Traders and Low Fees: OKX and Crypto.com often offer highly competitive trading fees, especially for higher volumes, and a broad range of advanced features and crypto assets, suitable for more experienced traders.
• For Comprehensive Ecosystems: Crypto.com stands out with its integrated services, including the crypto card and staking options, appealing to users who want to do more than just trade.
• For Robust Compliance and Security: Gemini and Independent Reserve are top picks, having built strong reputations for their stringent security protocols and explicit commitment to regulatory adherence and safeguarding client funds.

Final Advice for Your Crypto Journey in Singapore:

1. Always Verify the MAS License: This cannot be stressed enough. Before entrusting your funds to any platform, use the official MAS Financial Institutions Directory to confirm its licensing status. This is your primary safeguard.
2. Understand Fee Structures Thoroughly: Don’t just look at advertised trading fees. Consider deposit, withdrawal, and particularly currency conversion (spread) fees to understand the total cost of your transactions. These hidden costs can quickly erode your profits.
3. Prioritise Security Features: Ensure the exchange employs robust security measures like Two-Factor Authentication (2FA), cold storage for the majority of assets, and ideally, insurance or regular Proof of Reserves audits. Personal responsibility for security, such as using strong, unique passwords, is also paramount.
4. Start Small and Learn: If you’re new to crypto, begin with a small investment and take the time to understand how the market and your chosen exchange work. Utilise the educational resources provided by exchanges and reputable financial news sources.
5. Be Aware of Volatility: Cryptocurrency markets are highly volatile and subject to rapid price swings. Only invest what you can comfortably afford to lose, and understand that past performance is not indicative of future results.
6. Secure Your Own Wallet for Long-Term Holdings: For significant long-term crypto holdings, consider transferring your cryptocurrencies from the exchange to a private hardware wallet (e.g., Ledger, Trezor). This gives you full control over your private keys, making your assets less vulnerable to exchange hacks or insolvency.
7. Stay Informed about Regulations: The regulatory landscape for cryptocurrencies is still evolving globally. Keep an eye on updates from the MAS and other relevant authorities, as these can impact how you interact with digital assets. For broader financial literacy and guidance from the Singapore government, refer to the MoneySense website.

By diligently comparing these factors and aligning them with your personal investment strategy, you can confidently choose the best crypto exchange in Singapore to embark on or continue your digital asset journey in 2025.