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.
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.
The global headquarters for the Coinhako cryptocurrency exchange is based in Singapore and located at 14 Robinson Road, #008-01A, Singapore.
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 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 Independent Reserve Singapore who offer 0.5% per trade.
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.
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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