Cryptocurrency has gained significant traction in Singapore, a leading global financial hub with a robust regulatory framework. Residents can legally buy, sell, and trade digital assets through licensed platforms. This guide compares top exchanges, explores Singapore’s crypto legality, and provides actionable insights for investors.
Top 3 Cryptocurrency Exchanges in Singapore
1. eToro: Best for Social Trading & Diversified Investing
Rating: 3.4/5 (Based on 277 reviews)
2025 Award: Best Cryptocurrency Broker
Key Features:
- 120+ Cryptocurrencies
- Social Trading: Copy strategies of experienced traders.
- Regulated: Complies with FCA standards.
- 1% Commission on crypto trades (cheaper than Coinbase).
Pros & Cons:
| ✅ Pros | ❌ Cons |
|---------|---------|
| Low $50 minimum deposit | Higher fees than specialized exchanges |
| Integrated USD/SGD fiat support | Limited advanced trading tools |
Ideal For: Beginners seeking a user-friendly platform with social investing features.
2. Coinbase: Simple App for Buying Crypto
Regulation: Licensed by Singapore’s MAS.
Key Features:
- 150+ Cryptocurrencies (Largest selection).
- NASDAQ-Listed: Transparent operations.
- 3.84% Trading Fee (Higher than competitors).
Pros & Cons:
| ✅ Pros | ❌ Cons |
|---------|---------|
| FDIC insurance up to $250K | Expensive for frequent traders |
| Instant SGD withdrawals | No FSCS protection |
Ideal For: Investors prioritizing security and variety.
3. Moomoo: Best for Active Traders
Regulation: SEC (US), MAS (Singapore), ASIC (Australia).
Key Features:
- Commission-Free US Stocks + Crypto.
- Advanced Charting: DMA trading & OCO orders.
- Demo Account Available.
Ideal For: Traders wanting a hybrid platform for stocks and crypto.
Cryptocurrency Legality in Singapore
- Legal Status: Recognized as Digital Payment Tokens under the Payment Services Act (PSA).
- Regulation: Exchanges must register with MAS and comply with AML/CFT rules.
- Taxes: No capital gains tax for individuals; business trading profits are taxable.
How to Buy/Sell Crypto in Singapore
- Choose a MAS-Licensed Exchange (e.g., eToro, Coinbase).
- Complete KYC (ID + proof of address).
- Deposit SGD via PayNow/bank transfer.
- Trade Securely using limit/market orders.
Pro Tip: Store large holdings in cold wallets for added security.
Risks & Security Tips
- Volatility: Prices can swing rapidly.
- Scams: Avoid "guaranteed returns" schemes.
- Security: Enable 2FA and use hardware wallets.
FAQs
1. Is crypto taxed in Singapore?
No capital gains tax, but business income from trading is taxable.
2. Which exchange has the lowest fees?
eToro (1%) beats Coinbase (3.84%) for cost efficiency.
3. Can I withdraw crypto to a private wallet?
Yes—platforms like eToro allow withdrawals to external wallets.
Final Thoughts
Singapore offers a secure, regulated environment for crypto investing. eToro excels for beginners, Coinbase for asset variety, and Moomoo for active traders. Always prioritize MAS-licensed platforms and practice risk management.