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.
2. Coinhako: Good For Local Transfers & SGD Trades
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.
Coinhako is famous for its quick bank transfers. After all, it’s a Singapore-founded company! So:
You’ll get the cash in your bank account from Coinhako within 24 hours, and:
Use Xfers to top up your Coinhako account. It takes just a few minutes before you can start trading, but you’ll have to fork out a 0.55% fee.
Besides, Coinhako is a very accessible exchange:
You can buy crypto using either your debit or credit card.
You’re eligible for multiple rewards if you log in and trade every day.
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.
4. Huobi Global: Best Versatility & Similarity To Binance
We rated Huobi Global as best for versatility because:
It boasts 379 cryptocurrencies, so it’s the most similar alternative to Binance Singapore has to offer.
Its trading volume reaches $8.1 billion each day.
You can change that crypto you’re buying for various fiat monies.
You can use Mastercard or Visa, but also PayNow, TransferWise, plus other 58 platforms.
It has tools galore to accommodate all traders’ preferences, from Huobi Earn that lets you accumulate interest to margin trading and AI automation.
Your trading fees vary depending on how many tokens you have – and that’s another thing it has in common with Binance. So, professional traders have the tiniest fees between 0.0097% and 0.0462%, while newbies’ trading fees are around 0.2%.
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:
Crypto to US exchanges
Staking your holdings to earn up to 20% annual interest
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.
Best Alternative To Binance Singapore: Which Exchange Should You Choose?
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.
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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