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Coinhako Review - Singapore (2021)

Summary: Coinhako is Singapore's largest cryptocurrency exchange by user base that is regulated by MAS. They are the easiest way for retail and institutional investors to start buying Bitcoin, Ethereum and other cryptos in the country.

Tanya Chen

Editor at Buy Bitcoin Finder
Coinhako Review Singapore

Coinhako Review

Coinhako is the largest digital asset trading platform in Singapore, which has been in operation since 2014. Their exchange offers an easy to use web app and an even more intuitive iOS/Android mobile app for investors to trade on the go. They are widely considered to be the most trusted crypto brokerage based in Singapore.

Key Features and Advantages of Coinhako

The list below provides a high-level overview of the key advantages that make Coinhako one of Singapore's most popular cryptocurrency exchanges.

  • Coinhako is secure, regulated and licensed by Singapore's financial authority MAS.
  • Investors in Singapore can buy crypto instantly with SGD or USD.
  • The choice of over 40 different crypto assets.
  • Clean and easy to use mobile app for Android and iOS.
  • World-class support and OTC Desk for institutional investors.


Is Coinhako Regulated by MAS?

Yes, Coinhako is regulated and licensed under the Payment Services Act in Singapore. This essentially means that they are licensed to operate as a digital currency exchange in Singapore.

The Monetary Authority of Singapore (MAS) have provided exchanges like Coinhako with this license as they finalise their regulations and licensing for cryptocurrency exchanges. We expect MAS to release more information about crypto regulations toward the end of 2021.

Is Coinhako Singapore Based?

The global headquarters for the Coinhako cryptocurrency exchange is based in Singapore and located at 14 Robinson Road, #008-01A, Singapore.

Is Coinhako the Best Exchange in Singapore?

The table below provides a high level overview of the 3 best exchanges in Singapore to help you easily compare features against the Coinhako exchange.

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Coinhako
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FTX
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Binance
Trading Fees 1% per trade 0.02% per trade 0.1% per trade
Spreads 1% spread on average 0.5% spread on average 0.3% spread on average
Year Founded 2017 2018 2017
Headquarters Singapore Hong Kong Global
Deposit Options Bank Transfer, Bank Wire or Xfers Bank Transfer, Bank Wire or Xfers Bank Transfer or Bank Wire
Cryptocurrencies 40+ Cryptos 200+ cryptos 300+ Cryptos
Built-In Wallet Image Image Image
Device Platforms Web, iOS, Android Web, iOS, Android Web, iOS, Android

Coinhako Fees

Coinhako is one of the more expensive exchanges in the cryptocurrency industry with a flat trading fee structure of 1%. This is over double the industry average, which sits around 0.5% per transaction.

For lower fees in Singapore, we would recommend an exchange like FTX Singapore who offer 0.02% per trade. If you join using this link, you will get another 5% off your trading fees.

Coinhako Withdrawal Fees

Unlike most exchanges, Coinhako do not specify withdrawal fees on the various crypto assets listed on their exchange. This is due to the fact that the cost to transact on different networks (Bitcoin, Ethereum or Cardano for example) can change day to day depending on demand for block space.

While this is understandable, it is still a very unusual practice. Other crypto exchanges in Singapore like Independent Reserve or Binance typically specify withdrawal fees.

Coinhako Coins

The Coinhako exchange offers over 40 of the best cryptocurrencies to buy, sell and trade with Singapore Dollars (SGD). These crypto assets include Bitcoin, Ethereum, AAVE, Cardano (ADA), Dogecoin, Curve Finance, Polkadot, Chainlink, Maker DAO and many more.

Coinhako Referral Code

Coinhako does not offer a referral code or promo code for new customers to get free Bitcoin, or lower fees. You can sign up to Coinhako with this link if you want to support Buy Bitcoin Finder and our pursuit in broadening crypto education globally.

Coinhako vs Binance

Coinhako and Binance are arguably the two largest crypto exchanges based in Singapore at the moment. The key difference between Binance and Coinhako is fees. As at this date, the Binance Singapore exchange charges 0.1% per transaction, whereas Coinhako charges 1% - which is a whole 10x cheaper.

On the other hand, Binance has run into some regulatory issues in other crypto friendly jurisdictions like the United Kingdom, Canada and most recently Australia. With that said, we think trading is much more secure on Coinhako, albeit more expensive.

Read our extended Coinhako vs Binance review for more information.


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