Summary: Coinhako is a cryptocurrency exchange committed to simplifying digital asset trading while prioritizing security and efficiency. Catering to beginners and experienced traders in Singapore, Coinhako offers an extensive selection of over 67 cryptocurrencies. The platform is highly regarded for its stringent security protocols, which include the use of cold wallets and multi-factor authentication, plus its support for multiple SDG deposits.
- Free and Instant SGD deposits from Singaporean banks.
- Buy, Sell and Trade 67 Cryptocurrency, such as Bitcoin and Ethereum.
- OTC and Institutional Desk for high-net worth investors.
Registered with the Monetary Authority of Singapore (MAS).
What is Coinhako?
Coinhako is a Singaporean cryptocurrency exchange that has been serving the Asian market since 2014. The platform offers a multi-functional "Superwallet," designed to facilitate the secure storage, transaction, and trading of a wide variety of cryptocurrencies, including Bitcoin, Ethereum, and Cardano. It is licensed under the Payment Services Act in Singapore and is ISO 27001 certified, emphasizing its commitment to security.
Users can buy, sell, and swap cryptocurrencies at spot prices and can make transactions using multiple payment solutions like PayNow, FAST bank transfers, and credit cards. The platform also offers a unique user loyalty rewards system, where points can be exchanged for various benefits. Coinhako aims to provide seamless access to cryptocurrencies with a focus on user-friendly interfaces and robust security measures.
Coinhako Features
Coinhako is celebrated for its diverse range of features tailored to meet the needs of Singaporean cryptocurrency traders. The platform currently supports over 67 leading cryptocurrencies, which can be traded against SGD and other fiat currencies at competitive rates. Here's a brief overview of its key features:
- Multi-Functional Wallet: This is not just a simple wallet;, it's a comprehensive solution designed to facilitate the secure storage, transaction, and trading of a wide array of cryptocurrencies. It supports popular token standards like ERC-20 and multiple blockchains.
- Spot Trading: Coinhako offers real-time trading at spot prices for various cryptocurrencies. This feature allows users to capitalize on market conditions instantly, without worrying about hidden fees or price lags.
- Multiple Payment Solutions: The platform accommodates a variety of payment methods to make transactions as convenient as possible. These include PayNow, FAST bank transfers, and credit card payments via Visa and Mastercard.
- User Loyalty Rewards: Beyond just trading, Coinhako rewards its users through a unique loyalty program. Points can be earned through various activities on the platform and can be redeemed for a range of benefits, including discounts and free merchandise.
- Robust Security Measures: The platform is licensed under Singapore's Payment Services Act and is ISO 27001 certified. It employs industry-best security practices, such as cold storage of funds and multi-signature authorizations.
- Real-Time Price Monitoring: Users can view and trade with real-time prices for all supported cryptocurrencies. This feature is available on both the mobile and desktop versions of Coinhako, ensuring that you can trade effectively even while on the go.
- Cross-Chain Transactions: The platform supports transactions across multiple blockchain networks, allowing for greater flexibility and access to a broader range of cryptocurrencies. This is particularly useful for those who diversify their crypto portfolios.
- Account Types for Different Needs: Coinhako offers specialized account types, including those for accredited investors and OTC (Over-The-Counter) trading accounts. This allows users to choose the account that best suits their investment goals and financial strategies.
- Referral Program: Users can benefit from referring new users to the platform. By creating referral links, they can earn commissions from the trades made by the people they refer, adding an extra layer of financial incentive to use Coinhako.
Is Coinhako Regulated?
Yes, Coinhako operates under stringent regulatory oversight, being licensed under the Payment Services Act in Singapore. This license, identified as License No: PS20200556, signifies that the platform is in compliance with the standards and regulations set forth by the Monetary Authority of Singapore (MAS).
This regulatory framework not only ensures that Coinhako complies with local laws but also adds an extra layer of trust and security for its users. The license serves as a testament to the exchange's commitment to providing a secure and reliable trading environment, aligning with the high standards of financial regulation in Singapore.
Supported Cryptocurrencies
The exchange offers a diverse range of 67 cryptocurrencies, providing users with a broad spectrum of investment and trading options. The platform includes digital assets like Bitcoin, Ethereum, and Cardano, as well as other emerging tokens such as OmiseGo, Siacoin, and Chainlink. This extensive selection is part of Coinhako's multi-functional Superwallet, which is designed to facilitate secure storage, transactions, and trading across multiple blockchains.
Fee Schedule
Coinhako employs a transparent fee structure designed to offer flexibility and affordability to its users. For trading with Singapore Dollars (SGD) at spot pricing, the platform charges a fee of 0.6%. The same rate applies to trading crypto pairs at spot pricing. For those interested in Recurring Buys, the fee is slightly lower at 0.5%. When it comes to stablecoin-fiat trades like USDC/SGD, USDT/USD, and others, the fee is even lower at about 0.3%.
For fiat withdrawals, the exchange charges a flat fee of 2 SGD. On the cryptocurrency side, deposits are free, but withdrawals do incur a small fee to cover network costs. Additionally, users can enjoy up to 15% off trading fees through the Coinhako Rewards program. For instant trading, the platform supports card payments via Mastercard and Visa, as well as GrabPay, which incurs a 2.8% fee paid to Grab.
Mobile Application
Coinhako offers both a mobile application and a desktop platform, giving users the convenience to trade wherever they are. The app is compatible with iOS and Android devices, making it widely accessible. User experience on the Coinhako mobile app is highly praised, thanks in part to its user-friendly and straightforward interface. The application has received favorable reviews across various platforms and maintains a high rating on both the Apple App Store and the Google Play Store.
Customer Care
Coinhako underscores its dedication to customer satisfaction by providing 24/7 support via live chat, email, and an online contact form. Our observations indicate that the support team is typically quick to respond, aligning with Coinhako's emphasis on user security and adherence to regulations. Beyond customer assistance, Coinhako also offers an extensive range of educational resources, such as tutorials and blog posts, to help users better understand the crypto landscape.
Final Thoughts
Founded in Singapore in 2014, the platform has gained popularity in the country by offering a blend of robust security features and a wide range of trading options. What sets Coinhako apart is its commitment to security, underscored by its licensing under Singapore's Payment Services Act and ISO 27001 certification. Its multi-functional "Superwallet" and real-time price monitoring are designed to provide a seamless trading experience.
Additionally, the platform's unique loyalty rewards system and transparent fee structure further enhance its appeal, making it a compelling choice for anyone looking to engage in cryptocurrency trading. Regulated by the Monetary Authority of Singapore, Coinhako not only adheres to local laws but also instills a sense of trust among its user base.
Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.
