Coinhako Fees & Spreads Reviewed
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Summary: Coinhako’s fees, including a 0.6% trading fee, 2.8% for instant funding, and hidden spreads around 1%, make it an expensive choice for Singapore-based crypto traders.
Alternatives like Independent Reserve offer lower trading fees (0.02%-0.5%), tighter spreads, and transparent pricing due to their open order books. Frequent or high-volume traders may find Coinhako’s costs restrictive.
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Best Alternative to Coinhako - Independent Reserve
Independent Reserve, holding an MAS license, is our preferred Coinhako alternative, offering tighter spreads and lower fees for cost-conscious investors.
Trading Fees
0.02% - 0.5% Based on Volume
Available Assets
BTC, ETH, SOL, USDC, USDT, & More
Regulation
MAS-Licensed (PS20200517)
What is Coinhako?
Coinhako is a cryptocurrency exchange regulated by the Monetary Authority of Singapore (MAS), trusted by over 400,000 investors. Established in 2014, the platform allows users to deposit Singapore dollars directly via PayNow and FAST transfers, simplifying access to over 200 cryptocurrencies.
While Coinhako doesn't offer advanced tools like limit orders, it provides an intuitive trading experience suited for beginners. With flat trading fees of 0.6%, integrated wallet functionality, and an institutional OTC desk, Coinhako serves as a practical gateway into Singapore’s crypto market.
Coinhako Trading Fees
Coinhako uses a tiered fee structure based on trade type and payment method. Here's a clear breakdown of what users can expect.
Trading Fees
- Standard trades (SGD or crypto pairs): 0.6% per transaction
- Recurring buys: 0.5% per transaction
- Stablecoin to fiat (USDC/SGD, USDT/USD): 0.3% per trade
- OTC desk (high-volume trades): 0% fees, subject to custom quotes
Funding and Withdrawal Fees
- SGD deposits via PayNow or FAST: Free
- Instant funding (credit cards, GrabPay): 2.8% fee
- SGD withdrawals: Flat 2 SGD
- USD withdrawals: 50 USD per transaction
Coinhako also runs a rewards program that can reduce trading fees by up to 15%, depending on user activity.
Coinhako Spreads and Hidden Fees
Coinhako does not clearly disclose one significant cost to traders: its high spreads. For example, buying 1 BTC on Coinhako can cost around S$111,900, while at the same moment, Independent Reserve lists Bitcoin at S$110,500, benefiting from deeper liquidity.
Unlike Independent Reserve, which openly displays its market depth, Coinhako sets prices internally without transparency. Traders cannot see live bids or offers, making it harder to determine true market value and increasing overall transaction costs.
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Coinhako Compared with SGD Exchange Alternatives
Wondering how Coinhako’s fees compare to other exchanges available in Singapore? Here's a concise breakdown of Coinhako versus Independent Reserve, Kraken, and Gemini to help you identify the best option for your trading needs.
Final Thoughts: Are Coinhako’s Fees High?
Coinhako's fees are indeed high, particularly once you factor in the hidden costs from its wide spreads.
Although the platform is convenient for retails users, active traders & institutional investors will find better value with exchanges like Independent Reserve, which offer tighter spreads and transparent pricing.
Before committing funds, carefully review spreads and fees to ensure your chosen exchange supports your financial goals.
Written by
Antony Bianco
Head of Research
Antony Bianco, co-founder of Datawallet, is a DeFi expert and active member of the Ethereum community who assist in zero-knowledge proof research for layer 2's. With a Master’s in Computer Science, he has made significant contributions to the crypto ecosystem, working with various DAOs on-chain.
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