CreditMaster October 28, 2021
Cryptocurrency has gained popularity in recent years, alongside the topic of DeFi, decentralized finance.
Amongst all traders, Binance was probably the default platform. Binance has been rated as the best overall crypto exchange in Singapore, thanks to its broad portfolio of virtual coins and low-interest rates.
Alas, Binance is taking its departure from Singapore. MAS has ordered the crypto exchange platform (Binance.com) to stop services in Singapore.
Which other options do you have for your crypto trades?
Let’s find the best alternative to Binance that Singapore has to offer
Gemini is another crypto exchange platform that is live in Singapore. Users can buy, sell and store crypto on Gemini.
Gemini doesn’t support as many cryptocurrencies as Binance, but among its 50+ virtual coins, you can find the most popular ones:
The first advantage of Gemini is that you can trade those cryptocurrencies for real money, including:
Besides, Gemini is a holistic platform that allows you to:
Of course, Gemini takes pride in its high levels of security. On the downside, this exchange has a smaller trading volume and lacks some of the more esoteric cryptocurrencies you could get on Binance.
Coinhako is another reliable alternative to Binance Singapore because it features forty coins, including the most popular Bitcoin and Ethereum. You can exchange these for SGD and USD – just like with Gemini above, but the unique selling proposition with Coinhako is that it supports Vietnamese Dong.
There’s more:
Coinhako is famous for its quick bank transfers. After all, it’s a Singapore-founded company! So:
Besides, Coinhako is a very accessible exchange:
On the downside, Coinhako, this crypto exchange platform still bears the stigma of its 2020 security breach. Although the few affected users got their money back quickly, some people are still skeptical about Coinhako’s security levels.
The 1% fee can also be considered a disadvantage if you’re constantly trading crypto because these charges snowball quickly and can eat away at your profit.
Moreover, the credit card transfer fee is even higher at 3% for each transaction.
Here’s another crypto exchange platform for you to buy and sell cryptocurrencies!
Coinbase boasts 91 cryptocurrencies – which is double as much as the two previous exchanges we discussed. Of course, you can find the popular Bitcoin and Ethereum included in this offer.
So, why else should you choose this crypto exchange?
A strong argument in its favour is its reputation. Coinbase has been around since 2012, and it’s the first Nasdaq-listed crypto exchange.
Besides, Coinbase is exceptionally user-friendly:
On the downside:
We rated Huobi Global as best for versatility because:
On the downside, the credit/debit card fees for crypto trading reach 3.99%.
If you’re a pro trader, you’ll instantly fall in love with Kraken. Although it only has 86 cryptocurrencies – which makes it average compared to other exchange trades – Kraken shines through its flexibility.
For instance, you can do:
On the downside, Kraken doesn’t support many currencies, and it has a slew of fees you have to consider. However, these limitations only bother one-time investors and not seasoned ones.
FTX has the broadest range of assets consisting of 243 cryptocurrencies and many tokens. Plenty of choices to buy and sell cryptocurrency. That way, you can trade a lot of assets to diversify your portfolio.
So what are these tokens?
FTX gives you access to stock tokens, which are based on genuine shares from companies like:
FTX also allows margin trading, with a reasonably low leverage limit, plus crypto futures. Besides, you’ll benefit from free deposits and a tiered fee structure that’s advantageous even for non-FTT holders. If that’s you, the charges you can expect vary from 0% to 0.07%, compared to 0-0.015% for FTT holders.
Crypto.com has some of the best rewards on the market. You can use this exchange platform if you want to make real money from your crypto investments in the short term. So, here’s what you can expect:
Besides, you use 20+ fiat currencies to buy and sell 150 cryptocurrencies, including:
Other features include:
Like with any other product or service, you have to take your needs into account. That is how you can find the best crypto exchange for yourself.
For example, if you’re interested in esoteric crypto, choose a platform like Kraken with many options. If you’re only interested in popular crypto, like Bitcoin or Ethereum, you have more alternatives.
But since you’re here looking for an excellent alternative to Binance Singapore, you may want that versatility. Also, you may need a quick, pain-free withdrawal and deposit process with as few fees as possible. When you’re looking at these fees, ask yourself whether you’re going to make professional trades or if you’re only beginning.
Here’s the difference:
An expert trader would benefit from versatility, flexibility, and a tier-structured fee system. By comparison, newbies would prefer rewards, smaller transaction fees, and seamless trading.
Either way, investing in crypto is becoming an increasingly popular way of diversifying your portfolio and increasing your revenues. That’s why a wise loan now would help you to acquire more crypto and associated assets so that you can enhance your wealth quickly.
For users who are facing financial troubles, they can consider getting a low interest and fast loan from CreditMaster. Although personal loans may not have a good reputation in Singapore, but there are always two sides of a coin.
In terms of financial products, CreditMaster have been around for many years and served numerous customers, helping them through tough times!
Fill up our 3-minute application form here.
At CreditMaster, we believe in building long-term relationships with our clients. Our team of experienced professionals is always ready to provide personalised financial advice and assistance to ensure that our clients make informed decisions. We understand that each client's situation is unique, and we strive to tailor our services to meet their specific needs.
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