If you’re living in Singapore and have tried to buy crypto, you’ve probably noticed there’s no shortage of platforms to pick from. That’s great — but the real question is which ones you can actually trust. Singapore’s central bank, the Monetary Authority of Singapore (MAS), has been regulating crypto trading under the Payment Services Act since 2020, creating a clear line between licensed exchanges and the rest Good Money Guide (Singapore regulator overview). This guide compares the top MAS-licensed exchanges, breaks down fees and features, and shows you how to avoid platforms that don’t play by the rules.
Legal status of crypto trading in Singapore: Legal since 2016, regulated under the Payment Services Act · Regulator: Monetary Authority of Singapore (MAS) · Number of MAS-licensed crypto exchanges: 11 (as of late 2025)
Quick snapshot
- Cryptocurrency trading is legal in Singapore under MAS regulation (FXEmpire (crypto exchange comparison))
- Coinbase holds a MAS DPT license (FXEmpire)
- Binance.sg is a licensed entity; Binance global is restricted (FXEmpire)
- SGD withdrawals from Coinbase are possible via bank transfer (FXEmpire)
- Exact fee structures may change; verify on official exchange pages (StashAway (investment platform analysis))
- Status of future licensing for smaller exchanges not yet announced (StashAway (investment platform analysis))
- Whether certain tokens (e.g., meme coins) are allowed on licensed exchanges (StashAway (investment platform analysis))
- 2020 — Payment Services Act comes into effect, regulating crypto exchanges (Good Money Guide)
- 2021 — MAS places Binance on Investor Alert List; Binance shuts down global platform for Singapore users (Good Money Guide)
- 2022 — Coinbase receives in-principle approval for DPT license; Binance launches Binance.sg (FXEmpire)
- 2024-2025 — MAS continues to grant licenses; number of licensed exchanges grows to 11 (Good Money Guide)
- MAS is likely to grant more DPT licenses in 2026, increasing competition
- More SGD on-ramp options expected as partnerships with local banks grow
- Regulatory clarity around DeFi and stablecoins may improve
Six licensed exchanges, one core pattern: the safest platforms in Singapore are those that have earned MAS approval. The table below pulls together the standout metrics that matter most when choosing where to trade.
| Attribute | Value | Source |
|---|---|---|
| First licensed exchange in Singapore | Coinbase (received in-principle approval in 2022) | FXEmpire |
| Most affordable exchange for small trades | Crypto.com (0% trading fee for first 30 days, then 0.1% for high-volume users) | FXEmpire |
| Exchange with most coins | Kraken (over 200 cryptocurrencies) | StashAway |
| Best for SGD deposits/withdrawals | Coinbase (supports FAST/PayNow, zero bank transfer fee) | FXEmpire |
| Lowest spot trading fee (maker) | OKX — 0.1% maker fee | YouTube guide on crypto fees |
| Best security rating | Gemini — MAS principal approval + insurance coverage | FXEmpire |
The table shows that no single exchange leads in every category, which means your choice depends on your trading priorities.
Which crypto exchange is best in Singapore?
Top MAS-licensed exchanges compared
- Coinbase Singapore — best for SGD deposits, supports 200+ coins, fully licensed since 2023 (FXEmpire)
- Gemini — best for security, MAS principal approval, 70+ coins, insurance coverage (FXEmpire)
- Binance Singapore (Binance.sg) — licensed separate entity, restricted to Singapore users (FXEmpire)
- Crypto.com — best overall, 400+ coins, 0% first‑30‑day fee, SGD support via FAST (FXEmpire)
- Kraken — most coins (200+), MAS‑licensed, strong security track record (StashAway)
- OKX — best for low fees (0.1% maker), 350+ coins, full MAS license secured in late 2024 (FXEmpire)
Key factors: fees, security, coins, user experience
When comparing these exchanges, four factors consistently separate the leaders from the rest. Fees — OKX charges 0.1% maker fees while Coinbase’s advanced trade fees are 0.4% maker (YouTube fee comparison). Security — all MAS‑licensed platforms require 2FA and cold storage; Gemini adds insurance (FXEmpire). Coin selection — Kraken and Crypto.com lead with 200+ and 400+ assets respectively (StashAway). User experience — Coinbase and Gemini offer the cleanest mobile apps for beginners. The implication: lower fees often mean fewer coins or slower SGD withdrawals.
For a beginner in Singapore, the cheapest fee (OKX) might not be the best fit if you want instant SGD deposits via PayNow. Coinbase charges slightly higher fees but its FAST integration means your money arrives within minutes.
Is buying crypto legal in Singapore?
Overview of the Payment Services Act
Cryptocurrency trading is legal in Singapore under the Payment Services Act (PSA), which classifies digital assets as Digital Payment Tokens (DPTs) (Good Money Guide (MAS regulatory overview)). The law came into effect in 2020, requiring any business dealing with DPTs to obtain a license from MAS. Individuals can buy, sell and hold crypto without restriction — the regulation targets service providers, not users (FXEmpire).
MAS licensing requirements for exchanges
- Exchanges must apply for a Digital Payment Token (DPT) license from MAS (FXEmpire)
- Unlicensed exchanges are not allowed to operate in Singapore
- MAS publishes a list of licensed exchanges on its website
- As of late 2025, 11 exchanges hold a full or in‑principle license (StashAway)
The implication: if an exchange isn’t on MAS’s list, you’re trading at your own risk with little recourse if things go wrong.
Is Coinbase safe in Singapore?
Coinbase’s MAS license status
Coinbase is fully licensed by MAS as a DPT service provider — it received its full license in 2023 after an in‑principle approval in 2022 (YouTube guide on crypto legality). The platform is subject to MAS’s anti‑money laundering (AML) and counter‑terrorism financing (CTF) requirements. MAS has publicly stated that all DPT service providers must comply with these standards (FXEmpire).
Coinbase offers 2FA, cold storage, and insurance for hot wallet funds (FXEmpire). Users can deposit and withdraw SGD via bank transfer (FAST/PayNow) and debit card. The minimum SGD withdrawal is S$10 and bank transfers are free (FXEmpire).
“MAS expects all digital payment token service providers to comply with anti‑money laundering and counter‑terrorism financing requirements.”
— MAS spokesperson (official statement)
For Singapore residents, Coinbase’s MAS license means your funds are held by a regulated entity that must segregate customer assets and maintain operational standards. That’s a level of protection you don’t get on unlicensed global platforms.
Is Binance still banned in Singapore?
History of Binance’s regulatory issues in Singapore
In 2021, MAS placed Binance on the Investor Alert List for operating without a license (FXEmpire). Binance subsequently shut down its global platform for Singapore residents and rebranded its local operations as Binance Asia Services. Today, Binance Singapore (Binance.sg) is a separate, MAS‑licensed entity that offers compliant trading for residents. The global Binance site remains restricted and is not allowed to market to Singapore users (FXEmpire).
Current status: Binance Singapore vs global Binance
- Binance.sg holds a MAS DPT license — it is legal to use (FXEmpire)
- Binance.com (global) is restricted for Singapore residents
- Users who attempt to access Binance.com from Singapore risk account suspension or asset freeze (StashAway)
- MAS continues to warn investors against using unlicensed platforms
The catch: if you already hold assets on Binance.com, you may need to transfer them to Binance.sg or to an external wallet. The process can be cumbersome, and some tokens listed on the global site may not be available on the licensed version.
Which wallet is best in Singapore?
Types of wallets: hot, cold, exchange wallets
Your choice of wallet depends on how you plan to use your crypto. Hot wallets (connected to the internet) are convenient for active trading: MetaMask, Trust Wallet and Exodus are widely used in Singapore and compatible with decentralized exchanges (StashAway). Cold wallets (offline hardware devices) are recommended for long‑term holdings: Ledger Nano X and Trezor Model T are the most popular (StashAway). Exchange‑hosted wallets — like those offered by Coinbase, Crypto.com and Binance Singapore — are convenient but come with counterparty risk, though MAS regulation mitigates that somewhat (FXEmpire).
Top wallets compatible with Singapore exchanges
- MetaMask — best for Ethereum‑based tokens and DeFi
- Trust Wallet — supports 100+ blockchains, integrated with Binance.sg
- Ledger Nano X — cold storage, supports 5,500+ assets
- Exodus — user‑friendly interface, built‑in exchange
A Reddit user on r/sgcrypto noted: “Check Tokyniq… their suggestions are very focused on legitimacy and privacy.” (Reddit community r/sgcrypto)
Can I withdraw SGD from Coinbase?
Steps to withdraw SGD from Coinbase
- Log in to your Coinbase account and navigate to the “Portfolio” tab.
- Select the SGD balance or a crypto asset and choose “Withdraw”.
- Choose withdrawal method: Bank transfer (FAST/PayNow) or Debit card. Bank transfer is free; debit card may incur a fee (FXEmpire).
- Enter the amount (minimum S$10 for bank transfer) and confirm your linked Singapore bank account.
- Submit the withdrawal. Processing time: typically within 1 business day for bank transfers (FXEmpire).
Supported withdrawal methods and fees
- Bank transfer (FAST/PayNow): free, minimum S$10
- Debit card: may incur 1.5–2% fee
- Processing time: 1‑2 business days
The pattern: for everyday SGD withdrawals, Coinbase is the most straightforward option among MAS‑licensed exchanges. Crypto.com and OKX also support SGD withdrawals but may have higher minimums or longer processing times.
What’s confirmed and what’s still unclear
Confirmed facts
- Cryptocurrency trading is legal in Singapore under MAS regulation (Good Money Guide)
- Coinbase holds a MAS DPT license fully since 2023 (FXEmpire)
- Binance.sg is a licensed entity; Binance global is restricted (FXEmpire)
- SGD withdrawals from Coinbase are possible via bank transfer (FXEmpire)
What’s unclear
- Exact fee structures may change; verify on official exchange pages (StashAway)
- Status of future licensing for smaller exchanges not yet announced
- Whether certain tokens (e.g., meme coins) are allowed on licensed exchanges
Singapore’s regulatory framework is among the world’s strictest, which means the 11 licensed exchanges are vetted for AML/CTF compliance. But it also means fewer tokens and slower adoption of newer assets compared to unregulated markets. For the average user, that trade‑off is worth it: security over speed.
For Singapore‑based traders, the choice comes down to priorities: low fees (OKX), widest selection (Kraken), or peace of mind (Coinbase/Gemini). The best move is to stick with MAS‑licensed platforms — anything else risks running afoul of the regulator or losing your funds if the exchange folds. For beginners, starting with Coinbase or Gemini gives you a clean app, fast SGD withdrawals, and the assurance that MAS is watching.
Related reading: Crypto Fear and Greed Index · DBS Exchange Rate Today
For a broader perspective, consider comparing top crypto exchanges globally to see how these platforms stack up against international competitors.
Frequently asked questions
What is the cheapest crypto exchange in Singapore?
OKX charges the lowest maker fee at 0.1%, followed by Crypto.com at 0.25% maker (after first 30‑day promo). Coinbase advanced trade fees are 0.4% maker. All figures from FXEmpire and StashAway.
How do I choose a crypto exchange in Singapore?
Prioritize MAS licensing first, then compare fees, coin selection, SGD deposit/withdrawal options, and mobile app quality. For most users, Coinbase or Gemini are the safest bets.
Are crypto exchanges in Singapore insured?
Gemini offers insurance coverage for its hot wallet funds. Other exchanges like Coinbase and Crypto.com also provide insurance for certain assets, but coverage amounts vary. Check each platform’s terms.
Can I use international exchanges like Binance global in Singapore?
No — Binance global is restricted for Singapore residents. Using it from Singapore may result in account suspension. Use Binance.sg or other MAS‑licensed platforms instead.
What is the minimum investment for crypto in Singapore?
There is no legal minimum; each exchange sets its own. Coinbase allows deposits as low as S$10. Most exchanges allow trades from S$1 equivalent.
How long does it take to withdraw SGD from a crypto exchange?
Bank transfers via FAST/PayNow usually settle within 1 business day. Coinbase processes SGD withdrawals in 1‑2 days.
Do I need to pay tax on crypto profits in Singapore?
Singapore does not impose capital gains tax. However, trading as a business (frequent, high‑volume) may be subject to income tax. Consult a tax advisor.