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Coinbase vs Coinhako

Coinbase vs Coinhako

Dylan Matthews
Fact Checked
August 3, 2022

In this article we compare two of the largest centralised cryptocurrency exchanges in Singapore. We will touch on fees, deposit methods, security and supported cryptocurrencies.

Coinhako is Singapores largest exchange and it offers over 50 digital assets to trade. It has been in operation since 2014 and has the largest user base of any crypto exchange in Singapore. Coinbase is the largest cryptocurrency platform in the United States and supports 160 cryptocurrencies.

Table of Contents

Comparison Table

As a high level overview, we have provided a side-by-side comparison of the two cryptocurrency platforms.

Image Image
Beginner Friendly Image Image
Buying Methods SGD Wallet & Credit/Debit Card Credit/Debit Card
Deposit Methods Bank Transfer & Xfers Direct Charge Credit/Debit Card
Trading Fees 1% 0.5% - 4.5%
Supported Devices Web, iOS, Android Web, iOS, Android
Crypto Wallets Image Image
Cryptocurrencies 58 150
Year Founded 2014 2012
Conclusion Winner Loser

Coinhako vs Coinbase: Fees

Coinhako may be the most popular exchange in Singapore, however, it is definitely one of the more expensive trading platforms in the country. It currently charges a flat fee of 1% in transaction fees. However, Coinbase charges much higher than Coinhako.

Coinbase has some of the highest trading costs in the world, charging their investors 0.4 - 4.5% in trading fees.

Coinhako vs Coinbase: Security

Coinhako has regulatory clarity provided by the Monetary Authority of Singapore and has a policy of maintaining a significant chunk of users cryptocurrency in a cold wallet and only a small quantity of cryptocurrency for trading purposes in a hot wallet. This way if a cyber attack was to happen, the hackers would only have access to a very small portion of users assets, and any assets lost are fully insured.

Coinbase SG is not currently licensed by MAS to provide DPT (Digital Payment Token) services. Users will not be able to recover all the money or DPTs they paid to Coinbase SG if Coinbase SG’s business fails. In the event of a cyber-attack, there is a risk that users may not get back all of their digital assets.

For this reason, we believe Coinhako has higher security measures in place than Coinbase.

Coinhako vs Coinbase: Deposit Methods

If you are depositing SDG we recommend using Coinhako as it offers direct deposit from multiple banks including DBS, OCBC Bank, Standard Chartered plus many others. It has an in-depth article on what deposit methods it provides.

However, if you are not based in Singapore we recommend using Coinbase as they offer Credit and Debit card as a deposit method which can be used globally.

Coinhako vs Coinbase: Available Assets

Coinbase currently supports more cryptocurrencies than Coinhako, offering their investors 150 tokens to choose from. Coinhako is also quite quick to list new and popular coins to keep their customers engaged on their platform. However, they only have a selection of 60 cryptocurrencies to trade, buy and sell.

Final Verdict

For Singaporean investors, we recommend using Coinhako as they support more deposit methods linked directly to Singaporean bank accounts and they have extremely high security measures in place to ensure safety for their users. They also charge significantly lower fees than Coinbase. If you would like to read more about Coinhako, please visit this article.

Dylan Matthews

Dylan Matthews

I am the Founder & CEO of Buy Bitcoin Bank and was previously an engineer for a Prop trading firm in Crypto.

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