Coinhako Review Singapore

Overview

Coinhako is Singapore's most well-known local cryptocurrency exchange, founded in 2014 by Yusho Liu and Gerry Eng. It holds a Major Payment Institution (MPI) license from MAS, the highest tier of DPT licensing. Coinhako was built specifically for the Singapore market, and it shows -- the platform supports PayNow instant deposits, Singpass-based KYC verification, and SGD as a primary currency.

The exchange serves over 300,000 users across Singapore and Southeast Asia. While its trading fees (0.6-0.8%) are higher than competitors like Independent Reserve, Coinhako compensates with an exceptionally smooth user experience, reliable customer support, and the peace of mind that comes with using a fully local, fully licensed platform.

For complete beginners who have never bought crypto before, Coinhako remains our top recommendation. The signup-to-first-purchase journey can be completed in under 10 minutes thanks to Singpass integration. For cost-conscious investors who trade frequently, however, the fee difference adds up and alternatives may be worth considering.

Pros and Cons

Fees

Coinhako charges a flat 0.6-0.8% trading fee on all transactions. There is no maker/taker fee distinction. Deposits via PayNow and FAST are free. Withdrawal fees vary by cryptocurrency (e.g., BTC withdrawal fee is approximately 0.0004 BTC). Compared to Independent Reserve (0.02-0.50%) or Crypto.com (0.04-0.40%), Coinhako's fees are the highest among MAS-licensed exchanges.

For a S$1,000 Bitcoin purchase, you would pay approximately S$6-8 in trading fees on Coinhako versus S$0.20-5.00 on Independent Reserve. Over a year of monthly S$1,000 purchases, that difference amounts to S$12-94 in savings. Whether this matters depends on your investment size and frequency.

Verdict