Best Crypto Exchange in Singapore

Singapore has rapidly solidified its status as one of Asia’s leading cryptocurrency hubs, with strong regulatory frameworks, government support for digital asset innovation, and growing adoption among retail and institutional investors alike. 

As interest continues to rise, more Singaporeans are exploring crypto as an asset class—whether for long-term investment, trading, or diversification.

But with opportunity comes risk. In 2024 alone, scammers siphoned over S$230 million worth of cryptocurrency in Singapore, highlighting the critical need for choosing the right platforms to trade safely and securely. 

This guide will walk you through the best crypto exchanges in Singapore—focusing on regulated platforms that offer strong protection, ease of use, and features tailored to both beginners and seasoned traders.

Why trade with licensed cryptocurrency exchanges in Singapore

In Singapore, all crypto exchanges and wallet providers that deal with digital payment tokens (DPTs)—such as Bitcoin or Ethereum—must be regulated under the Payment Services Act (PSA). As of April 2025, MAS has granted licenses to 33 major payment institutions for Digital Payment Token services.

Enforced by the Monetary Authority of Singapore (MAS), this legislation ensures that digital asset service providers meet stringent requirements around anti-money laundering (AML), counter-terrorism financing (CTF), technology risk management, and safeguarding of customer funds.

For crypto investors, trading on a MAS-regulated exchange offers an added layer of protection. It signals that the platform is subject to regular audits, transparent operational standards, and compliance with consumer safeguards. 

While MAS does not guarantee against losses, regulation minimizes the likelihood of fraud or operational failure—giving investors more confidence when managing digital assets.

MAS-regulated cryptocurrency exchanges in Singapore

Here’s a breakdown of some of the top crypto exchanges that have been approved by MAS:

MAS-regulated non-exchange platforms for buying crypto in Singapore

While MAS-regulated cryptocurrency exchanges are the most common way to buy and trade crypto in Singapore, they may not be the ideal choice for everyone. Some users prefer non-exchange platforms for several reasons:

✅ Convenience – If you already bank with DBS or use Revolut or trade with Moomoo, it might be easier to buy crypto within your existing financial ecosystem rather than setting up an account with a separate exchange.

✅ Regulatory Confidence – Banks and established fintech firms often follow stricter financial regulations, which might make some investors feel safer compared to standalone crypto exchanges.

✅ Institutional & Accredited Investors – Platforms like DBS Digital Exchange and Sygnum Bank cater to high-net-worth individuals and institutional clients who require professional-grade crypto services, not just trading but also custody, tokenization, and wealth management.

However, there are some downsides to using these platforms:

❌ Limited Crypto Selection – Unlike dedicated exchanges, most non-exchange platforms only support a few major cryptocurrencies (e.g., Bitcoin, Ethereum).

❌ Higher Fees – Trading fees on bank-backed platforms or fintech apps are often higher than MAS-regulated crypto exchanges.

❌ No External Transfers – Some platforms, like Revolut, do not allow withdrawals to external wallets, meaning you don’t fully "own" the crypto in a self-custodial sense.

Fees structure of cryptocurrency exchanges

Trading on a cryptocurrency exchange isn’t free—every order, deposit, and withdrawal can cost you. Here's what to know.

1. Trading fees:

Most exchanges use a maker-taker model, where fees depend on whether you add or remove liquidity from the market.

Tip: Use limit orders where possible to pay lower maker fees.

2. Deposit and withdrawal fees:

Most major crypto exchanges in Singapore support FAST or PayNow bank transfers, which are typically free for deposits. This makes it very convenient and cost-effective to fund your crypto wallet directly from your local bank account.

However, fiat withdrawals aren’t always free. Some platforms charge a flat fee (e.g., Independent Reserve charges S$1.5) —when you transfer your funds back to your bank. OKX is one of the few that offers zero-fee withdrawals. 

Using credit or debit cards for deposits is not recommended due to high fees (often 3%–4%).

✅ Takeaway: If you're trading in SGD, opt for exchanges with free bank deposits and low or no withdrawal fees to keep your costs minimal.

3. Extra fees to watch for:

• Stablecoin conversion fees: e.g., Coinbase charges up to 0.20% for USDC-to-USD conversion.
• Inactivity fees: Rare but present on some platforms.
• Gas fees: Especially relevant on DEXs like Uniswap, where network congestion can spike costs.

What is spot trading and derivatives trading

There are two main ways to trade Bitcoin in Singapore—spot trading and derivatives trading—and they differ significantly in risk, ownership, and strategy. Using Bitcoin as an example,

• Spot trading means buying Bitcoin at the current market price and taking full ownership of the asset. You can hold it, use it, or sell it later. It’s simple and ideal for long-term investors who believe in the future value of Bitcoin. There’s no leverage, which means your maximum loss is limited to your initial investment.
• Derivatives trading involves speculating on Bitcoin’s price movements through contracts like futures, options, or perpetual swaps. You don’t own any actual Bitcoin, but you can profit from both rising and falling prices—often using leverage. While this amplifies profit potential, it also significantly increases your risk, including the possibility of liquidation if the market turns against you.

⚠️ Note: Not all crypto exchanges in Singapore offer derivatives trading. 

Types of cryptocurrencies

The cryptocurrency market goes far beyond just Bitcoin. As Singapore cements its status as a digital asset hub, it’s important for investors to understand how different cryptocurrencies function and where they fit within the Web3 landscape. Here's a breakdown of the major categories:

1. Payment and store-of-value cryptocurrencies

These are designed to be used as money or digital gold. They allow for peer-to-peer transactions and are often decentralized.

2. Infrastructure cryptocurrencies

These power the blockchain networks and smart contracts that support decentralized apps (dApps).

3. Financial cryptocurrencies

These support the decentralized finance (DeFi) ecosystem, from trading and lending to asset management.

4. Service cryptocurrencies

These power use cases in decentralized identity, cloud storage, data, and real-world services.

5. Media and entertainment cryptocurrencies

These focus on gaming, NFTs, content creation, and virtual worlds.

Difference between Bitcoin, altcoin, memecoin, and stablecoin

The crypto market isn’t just about Bitcoin. While Bitcoin remains the most recognized and valuable cryptocurrency, other categories like altcoins, memecoins, and stablecoins offer very different features and use cases. Here’s how they compare:

Bitcoin laid the foundation as a decentralized currency, but the crypto landscape has since evolved. Altcoins power ecosystems like Ethereum and Solana, enabling smart contracts and DeFi. Memecoins add speculative fun but come with extreme volatility. Meanwhile, stablecoins offer price stability for transactions and yield strategies. 

Is cryptocurrency a good investment for you?

At its core, cryptocurrency is a high-risk, high-reward asset class. Unlike stocks or bonds, crypto assets are not backed by governments or central banks, and their value is driven entirely by market demand, supply, and usage. 

Bitcoin, the world’s largest cryptocurrency, is famously limited to 21 million coins—this scarcity, along with global interest, drives its price volatility. In fact, Bitcoin lost nearly 65% of its value in 2022, highlighting how prices can swing drastically even within a single year.

For Singapore-based investors, the Monetary Authority of Singapore (MAS) does not recognize cryptocurrencies as legal tender. While MAS-licensed exchanges provide safer access to trading, investors are not protected under Singapore's deposit insurance scheme. That means if your funds are lost due to fraud or hacks, there’s usually no recovery.

So, is crypto a good fit for you? Ask yourself these three questions:

• Do you fully understand the risks of extreme price volatility?
• Can you afford to lose the amount you're putting in without affecting your financial stability?
• Have you already built a diversified core portfolio with traditional investments like stocks, bonds, or cash?

If the answer is yes, allocating a small portion (e.g. 1-5%) of your portfolio to cryptocurrencies could make sense—especially if you’re investing for the long term and can stomach short-term swings. But if you're saving for short-term goals or have low risk tolerance, crypto may not be the right fit.

Ultimately, crypto investing isn't for everyone, and it should never come at the cost of your emergency savings, retirement planning, or peace of mind.

Safety tips for trading cryptocurrency in Singapore

✅ Use MAS-regulated platforms

• MAS-licensed exchanges follow KYC/AML rules, reducing fraud risks.

✅ Pay attention to P2P (Peer-to-Peer) trading

• Not illegal, but unregulated—no consumer protection, higher fraud risk.
• Banks may flag P2P crypto transactions as suspicious.

✅ Usage of DEX (Decentralized exchanges)

• No MAS licensing framework—100% self-custody, but zero protection if funds are lost.
• No KYC, higher risk of interacting with illicit funds.

✅ Why CEXs are safer

• MAS-regulated platforms provide fraud prevention, dispute resolution, and better security.

🔒 Secure your crypto holdings

• Use hardware wallets for long-term storage.
• Enable 2FA & withdrawal whitelisting.
• Avoid phishing scams—always verify URLs before logging in.

Frequently asked questions (FAQs)

Is cryptocurrency legal in Singapore?

Yes. Crypto is legal but not considered legal tender. All platforms dealing with Digital Payment Tokens (DPTs) must be licensed under the Payment Services Act (PSA) and regulated by MAS.

Are crypto gains taxable?

Singapore does not tax capital gains for personal crypto investments. However, if you're trading frequently as a business, profits may be subject to income tax.

Can I trade on platforms that are not licensed by MAS?

You can—but at your own risk. Global platforms like Binance or KuCoin are not MAS-regulated. Users may face withdrawal issues, limited legal recourse, or blocked payments from local banks.

What are typical trading fees?

The fees charged by crypto exchanges regulated by MAS range from 0.1% to as high as 1.49%

How do I keep my crypto safe?

Use MAS-licensed exchanges, enable 2FA, and consider storing long-term holdings in cold wallets like Ledger or Trezor.

What if a crypto exchange loses its MAS license?

It may be forced to cease operations. MAS advises users to withdraw funds promptly if such an event occurs.