Binance Singapore cryptocurrency exchange – November 2019 review

Last updated:  

Buy BTC, ETH, BNB, LTC, BCH and XRP with Singapore dollars with one of the world’s most popular exchanges.

  • Great for its competitive rates
  • Not so great if you are looking for an exchange with a wide range of coins

1

Fiat currencies

6

Cryptocurrencies

Details

Product Name Binance Singapore Cryptocurrency Exchange
Fiat Currencies SGD
Cryptocurrencies BTC, ETH, BNB, LTC, BCH, XRP
Deposit Methods Bank transfer
Cryptocurrency
Trading Fee 0.8%
Deposit Fees None
Withdrawal Fees Binance cash wallet to Xfers: None
Cryptocurrency: Fees vary

Pros

  • Safe storage technology
  • Easy-to-use interface
  • 24/7 online customer support

Cons

  • Can only send 6 cryptocurrencies
  • Only supports SGD
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Learn more about:

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: SGD
  • Supported cryptocurrencies: 6 cryptocurrencies
  • BTC
  • ETH
  • XRP
  • BCH
  • LTC
  • BNB

Which payment methods are accepted?

  • Bank transfer
  • Cryptocurrency
Go to Binance Singapore's website

What’s it like to use Binance Singapore

Fees and limits

Platform trading fees

Platform fee type Fee
Buy from Xfers account 0.6%
Instant Buy 0.6%
Buy from Binance account 0.6%
Sell to Binance account 0.6%
Deposit and withdrawal fees
Transfer type Fee
Deposit None
Withdrawal to Xfers Free
BTC withdrawal 0.0005 BTC
ETH withdrawal 0.01 ETH
BNB withdrawal 0.1 BNB

How fast will my funds be available?

Fiat transfers

Clock icon for transfer speed

Instant

Fiat transfers to and from your Xfers account will typically be almost instant.

Crypto transfers

Clock icon for transfer speed

Few minutes

Cryptocurrency transfers will vary depending on the crypto, confirmations required and fee paid. It will typically take a few minutes.

Is CoinSpot safe to use?

  • Regulation. Binance Singapore is registered in Singapore, but according to its terms and conditions may not be regulated as a financial institution in your jurisdiction.
  • Verification process. Binance Singapore is only for Singapore citizens or permanent residents, or people residing in Singapore. Identity verification is required prior to trading.
  • Security features. Binance Singapore is a branch of the popular Binance cryptocurrency exchange, which is known for its industry leading security. Binance has been hacked once, but compensated users for any lost funds.

How do I create an account at Binance Singapore

Go to Binance Singapore's website
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What else do I need to know about Binance Singapore?

Binance is the world’s largest cryptocurrency exchange by both average volume and active userbase, but the main Binance exchange is a crypto-to-crypto exchange only.

To facilitate fiat transfers, it’s opening fiat bridges around the world. Binance Singapore is it’s bridge in Singapore.


In a nutshell

Pros

  • Competitive rates. No undue deposit or withdrawal fees, and a 0.6% fee on trades.
  • Convenient. Simply link your Xfers account and you can buy and sell.
  • BNB available. Binance Singapore is one of very few places to buy and sell BNB for fiat.

Cons

  • BTC, ETH, BNB, LTC, BCH and XRP only. You’ll have to use a different exchange for trading other coins.
  • No active trading. Binance Singapore is primarily a fiat bridge. It doesn’t offer advanced features or active trading.
Go to Binance Singapore's website
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Compare Binance Singapore against other exchanges

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Bank transfer
Cryptocurrency
SGD
BTC, ETH, BNB, LTC, BCH, XRP
A platform for Singaporeans to buy cryptocurrency with SGD brought to you by Binance, one of the world's largest cryptocurrency exchanges.
Credit card
Debit card
PayPal
Wire transfer
Local Online Banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK, ZAR, JPY, SEK, CNH, TRY, RUB, HUF, MXN, PLN
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, BNB, XTZ
Disclaimer: Highly volatile investment product. Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Electronic Funds Transfer
Bank transfer (SEPA)
Wire transfer
USD, EUR, GBP, JPY, CAD
BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, DASH, XMR & 15+ more
Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.

Compare up to 4 providers

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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