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Top 11 Best Crypto Exchanges and Bitcoin Investment Platforms in Singapore Tested and Reviewed for 2022

Top 11 Best Crypto Exchanges and Bitcoin Investment Platforms in Singapore Tested and Reviewed for 2022

We’ve finally made it to 2022, and it seems like the cryptocurrency trend is here to stay this year (not unlike COVID-19).

The current Russian – Ukraine war led to sanctions on Russia that crumbled the rubles and Ukraine receiving over $23million in donations worth of crypto. 

The intrinsic value of bitcoin as a neutral currency for both opposing and supporting the masses of each country just signifies the great potential bitcoin and crypto hold for the future. 

Cryptocurrencies’ popularity and newfound fame are not just limited to news headlines. It looks set to seep into our daily life as well, now that PayPal, Venmo (the American version of PayNow), Tesla, and currently eBay have begun accepting payments in Bitcoin (BTC). It’s only a matter of time before other tech companies start doing the same. 

Barcelona and As Roma football clubs have already created their own crypto coins for their respective clubs and fanbase with a partnership with UEFA to facilitate transactions for fans.

So if you want to buy yourself some crypto before it gets all mainstream, here’s a guide to comparing the different crypto exchanges out there and choosing the best one.

Which are the best crypto exchanges in Singapore?

There are tons of cryptocurrency trading platforms out there, but we’ve shortlisted 11 of the most popular cryptocurrency investment companies in Singapore.

List of Top 11 Best Crypto Exchanges and Bitcoin Investment Platforms in Singapore.

  1. Bitcoininvestmentrex.com
  2. Coinbase.com
  3. Crypto.com
  4. Okex
  5. Binance
  6. Huobi Global
  7. Bitfinex
  8. Kraken
  9. Zipmex
  10. eToro
  11. Gemini

The table above reflects the trading fees across 10 crypto exchanges but that’s not all you have to consider before signing up for an account.

There are lots of factors that go into choosing the best cryptocurrency exchange, but it can be boiled down to the following:

  1. Ability to transact in Singapore Dollars
  2. Transaction fees + difference in pricing for user interface options
  3. If there are any withdrawal fees, and how much
  4. Trading fees according to maximum yearly limit of S$30,000, as per stipulated by MAS
  5. Credibility and Trustworthiness of the crypto investment platform

We’ll run through these factors in detail below.

Top 11 Best Crypto Exchanges Singapore

Credit: Money Smart

1. Does the crypto exchange support SGD?

Not all crypto exchanges allow you to buy major cryptocurrencies in Singapore Dollars. Here are the ones that do support SGD, at least for Bitcoin and Ethereum:

  1. Crypto.com
  2. Gemini
  3. Coinbase.com
  4. Bitcoininvestmentrex.com
  5. OkEx
  6. Huobi Global

What we noticed is that some crypto exchanges feature very low trading fees, but they are only applicable for USD trades, with the use of their proprietary USD wallet. This implies that you’ll most likely need to have a USD bank account, or at the very least, a multi-currency bank account.

So if you pick a crypto exchange that supports SGD, it’s less hassle.

To be taken into account, we only included BTC and ETH here as the smaller cryptos tend not to support SGD. To buy those, you’d typically buy BTC first, then exchange your BTC to your crypto of choice. Also, the above-mentioned trading fees are with the maximum yearly transaction volume of S$30,000, as stipulated by MAS.

2. What’s the crypto exchange’s fee structure?

It’s common for crypto exchanges to offer at least two user interfaces: simple mode (for everyone) and expert mode (more technical and aimed at seasoned traders).

But… Did you know that some crypto exchanges actually charge zero fees on deposits and withdrawals, why do their counterparts have numerous fees which might really not make it easy for cryptocurrency beginners? 

Bitccoininvestmentrex.com provides flexible and easy fee structures for cryptocurrency beginners and pros alike. 

3. How much does the crypto exchange charge for withdrawal?

We’ve covered the fees for buying crypto on the exchange above. But what about withdrawing your cryptocurrency at some point? Prepare to upgrade your headache into a raging migraine.

Most cryptocurrency exchanges have their own withdrawal fee structure, and in a perfect world, everything would be simple and intuitive.

Here are a few guidelines to keep in mind when making withdrawals on any cryptocurrency exchanges:

  1. Do I want to withdraw my cryptocurrency into cash?
    • This is a selling order — what are the fees for the selling order?
    • After completing the selling order, is there a fee to withdraw it into my bank account?
  2. Do I want to withdraw my cryptocurrency into a cold wallet or a different crypto exchange?
    • What are the fees to withdraw cryptocurrencies?
    • What are the minimum withdrawal amounts?
    • Is the fee worth paying for the amount you wish to withdraw?

The last point is especially important.

For example, some exchanges like Zipmex even charge you for withdrawing SGD — 0.3% of whatever you withdraw. Be sure to check! 

Other crypto platforms like Bitcoininvestmentrex.com charge zero fees for withdrawal

Make sure you keep this in mind if you want to store your cryptocurrency in a cold wallet!

Our picks for the best crypto investment platform & exchange in Singapore

The best crypto exchange currently is Bitcoininvestmentrex.com, if you’re looking to optimize investing your crypto with relatively low fees, simple-to-grasp expert UI, and ease of purchase with Singapore dollars and stable profit.

That being said, it bears repeating that the crypto market is still fairly unregulated in Singapore and that Senior Minister Tharman Shanmugaratnam said about this crypto in Parliament

“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals. They are hence highly risky as investment products, and certainly not suitable for retail investors.”

Regardless of your appetite for risk, we definitely don’t recommend investing your life savings in crypto.

Only a fraction of your portfolio should be assigned to crypto. 15% is a good benchmark. 

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