Coinhako is Singapore’s largest and most trusted cryptocurrency exchange that offers over 30 digital assets to trade against Singapore Dollars (SGD). Their digital asset exchange has been in operation since 2014 and has amassed the most users out of any crypto exchange in the country.
Coinhako Key Features
Coinhako is highly regarded for their intuitive user interface across both their Web and & Mobile applications. Their trading app is easy to use and provides 24/7 access to over 30 of the top digital currencies across the Layer 1, DeFi, Metaverse and NFT sectors.
Outside of an award winning user experience, Coinhako also offers a wide variety of SGD deposit options, secure crypto wallets and an iOS & Android app.
Is Coinhako Regulated by MAS?
Their digital asset exchange has been in operation since 2014 and is regulated and licensed by the Monetary Authority of Singapore (MAS) under the Payment Services Act. You can get specific information about Coinhako’s in-principle approval from MAS to conduct their business in the Coinhako FAQs.
Although Coinhako is popular amongst Singapore based cryptocurrency investors, it is definitely one of the more expensive trading venues in the country. At the moment, Coinhako charges a flat trading fee structure at 1% per trade.
In comparison to other trading platforms like eToro which have lower fees and tighter spreads.
Deposit SGD Coinhako
Depositing Singapore Dollars (SGD) on Coinhako is incredibly easy and can be done from several banks including DBS Bank, OCBC Bank, Standard Chartered and many others. In order to deposit SGD, you will need to have firstly created an account and then visited the Deposit SGD page.
On this page, you will be prompted with a Unique deposit code that you will need to enter into your online banking service to transfer funds. From there, you should receive your SGD into Coinhako within 24 hours.
Coinhako lists over 30 different cryptocurrencies for users to trade against Singapore Dollars (SGD). These assets include Bitcoin, Ethereum, Solana, Cardano and many others.
Coinhako is also quick to list new and popular coins to keep their customers sticky on the platform. Some notable new listing include some of the top Metaverse and NFT Gaming coins like Decentraland (MANA), Axie Infinity (AXS) and Sandbox (SAND).
Coinhako also offers a hosted cryptocurrency wallet for their users to securely store the digital assets. The SuperWallet is designed to enable Coinhako users to deposit and withdraw cryptocurrencies 24/7 in a secure and trusted way.
One of the biggest benefits underpinning the SuperWallet is the user-friendly interface that makes it incredibly easy for even the newest of users to navigate.
Is Coinhako Better than Binance?
Binance is arguably Coinhako’s largest competitor for cryptocurrency investors based in Singapore. Many try to compare both platforms based on different features, but we believe there is one key feature that distinguishes Coinhako from Binance - and that is security.
Coinhako has regulatory clarity provided by the Monetary Authority of Singapore, whereas Binance’s position in Singapore is still very unclear. For this reason, we would definitely recommend that users in Singapore stick to Coinhako.
You can read our Binance vs Coinhako Review for more information.
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.