In the year 2020 Cryptocurrency market was around $1.49 billion which is increasing year by year. In recent times we have seen how gold and other commodities have been attractive modes of investment for investors. Now is the time for cryptocurrencies and this is the reason why there are many different crypto trading platforms available in the world today.
Singapore is not falling behind at all in this trend and there are many platforms providing cryptocurrency trading services in Singapore. Before you select any of them you must know all the important things that we will be discussing here.
Best Cryptocurrency Trading platforms in Singapore
What is cryptocurrency trading and how does it work?
Cryptocurrency trading is just like regular trading where we replace regular currencies with cryptocurrencies. So, instead of trading in different currency pairs, here we trade in cryptocurrencies like bitcoin, Ethereum, and more.
The interesting thing about cryptocurrency is that, unlike forex trading which has specific times in different parts of the world, there are no times for cryptocurrency trading. This brings convenience and ideal trading opportunities. Cryptocurrencies themselves come with a lot of different benefits and features that are also passed on when we do cryptocurrency trading.
Amazing benefits of cryptocurrency trading in Singapore
Cryptocurrency trading has many benefits in comparison with traditional trading. So, here we will elaborate on a few of them.
When we go for cryptocurrency trading, we get transparency by all means. From selling assets to the financial info, and information about the trade, everything is present in blockchain technology. It means everything is transparent and trackable so the reliability increases.
Just like transparency, the presence of blockchain in cryptocurrency trading brings better security as well. the chances of fraud significantly decrease because all the data is stored and there are no chances of altering or changing anything on the blockchain.
Flexibility and convenience
Unlike traditional trading options, cryptocurrency trading comes with flexibility and convenience for traders and investors. You can trade from any location at any time without having any issues whatsoever. It is only because cryptocurrency trading is based on decentralized currency trading.
When you trade the traditional currencies, your bank is involved in transactions when you withdraw and deposit. So, you have to pay additional fees. However, there is no such fee when it comes to cryptocurrency trading because everything is done via the crypto wallet.
Stability and Future proof
Cryptocurrency trading is stable because it is decentralized. Any worldly incident cannot make it unstable like regular currencies only because of it being decentralized. Similarly, the world is moving towards cryptocurrencies making cryptocurrency trading future-proof.
Top Crypto Exchanges in Singapore
The following are our top 5 picks for the best cryptocurrency trading Singapore platforms.
Crypto.com is the leading cryptocurrency trading platform in the whole world and it also makes the best cryptocurrency trading Singapore platform. Here you can trade on over 250 cryptocurrencies and the best part is that the fees you have to pay are not too much. One little detail that you must note is that every cryptocurrency here has a minimum trading limit.
To ensure that you have an amazing experience of cryptocurrency trading it comes for both iOS and Android mobile phones so that you can trade on the go.
Kraken is the cryptocurrency trading Singapore platform that focuses on bringing the best trading options for experts. This crypto exchange provides cryptocurrency trading services that are transparent while ensuring amazing security. Kraken exchange takes things to the next level by introducing its simple and pro variant with different features and services.
While Kraken brings all the standard features, it comes with some unique features as well. One of them is the dark pool where anyone can invest huge amounts while keeping anonymity. So, if you are a cryptocurrency trading expert, Kraken is the platform you need to go for.
If you are looking for the lowest fees options, then this is your cryptocurrency trading Singapore platform. FTX supports over 275 cryptocurrencies and there are many attractive features and a set of rules. The most amazing one is that there is no deposit or withdrawal fee if your total amount does not exceed S$ 6720.
FTX also emphasizes providing the best security, so the platform comes with a 2-factor login. The research tools here also bring good value for the traders.
Do not get confused with its name because it is one of the most convenient cryptocurrency trading Singapore platforms. It is known for allowing traders to trade according to their convenience. Well, trading is not the only convenient thing here as you can also enjoy up to 10 free withdrawals each month. However, considering the type of crypto you are trading on is important here.
Gemini not only focuses on things like backend features but also enhances the experience by bringing an interface like never before. The easy-to-use user interface makes cryptocurrency trading easier. Gemini also makes things attractive by providing bonuses to newbies.
While most of the cryptocurrency trading Singapore platforms focus on famous coins, KuCoin brings a different experience. It is cryptocurrency trading where you get to trade on altcoins meaning that you can trade in more than 400 cryptocurrency coin options. However, it does not mean that you will have to miss out on the famous ones.
The trading experience is amazing here considering the currencies accepted as well as the security features KuCoin brings. To make the cryptocurrency trading experience even better, KuCoin comes with 3 different account types that you can select as per your requirements.
Cryptocurrency trading can bring amazing profit-making opportunities considering how it is booming in the whole world. So, if you are from Singapore, it might be the right time to start with a reliable platform today. It is because the crypto market is expected to reach around $5 billion by the year 2030. However, make sure to have all the information and details before taking any step because the slightest of your mistakes can ruin the whole thing for you.