Coinhako Fees

Does Coinhako Have High Fees?

Coinhako’s fees are higher than those of many other exchanges in Singapore. Standard trading with Singapore Dollars (SGD) and crypto pairs incurs a 0.6% fee, while stablecoin-to-fiat trades like USDC/SGD and Recurring Buys offer slightly lower rates at 0.5% and 0.3%.

Instant funding methods like card payments or GrabPay, however, come with a substantial 2.8% fee, adding significantly to transaction costs. This structure makes quick transactions much more expensive, which may be a drawback for some investors.

In addition to these fees, Coinhako’s spreads are relatively wide, adding around 1% to each transaction. This can bring the total average transaction cost to about 1.6%, making Coinhako one of the costlier platforms for digital asset investing.

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Coinhako Spreads and Hidden Fees

Our analysis revealed that Coinhako has a spread of over 1%, with prices consistently above industry averages. For example, a recent comparison showed Coinhako listing 1 BTC at S$110,000, while platforms with order books like Kraken have liquidity available at S$109,000.

Spreads on Coinhako also tend to widen for smaller market cap coins, where reduced liquidity further raises costs for altcoin investors. 

For traders, these spreads can significantly affect transaction cost-effectiveness, making it important to weigh this factor when selecting a trading platform.

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Coinhako Fee Schedule

Coinhako’s fee structure covers a variety of charges depending on transaction types and payment methods, offering flexibility for different trading needs. Here’s a breakdown of Coinhako’s main fees:

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Trading Fees

• Spot Trades with SGD or Crypto Pairs: 0.6% fee per trade
• Recurring Buys: 0.5% fee per transaction
• Stablecoin-Fiat Trades (e.g., USDC/SGD, USDT/USD): 0.3% fee
• OTC Trades: For high-volume trades via institutional services, Coinhako offers 0% fees

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Funding Methods & Fees

• Fiat Deposits: Deposits in SGD via bank transfer (PayNow, FAST) incur no fees
• Instant Trades: Card payments and GrabPay transactions incur a 2.8% fee
• Fiat Withdrawals: SGD withdrawals have a flat fee of 2 SGD, while USD withdrawals cost 50 USD

Coinhako also offers discounts of up to 15% on trading fees through its Coinhako Rewards program.

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Best Alternative to Coinhako on Fees

For Singaporean users, Kraken offers a more cost-effective alternative to Coinhako. Its fee structure starts at 0.25% per trade and can drop to 0% for high-volume users. 

Kraken supports over 200 cryptocurrencies, provides best-in-class liquidity, minimal slippage on large trades, and boasts over $207 billion in yearly trading volume. The main catch is that Kraken only supports USD deposits, which can be made through any bank in Singapore or abroad.

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Bottom Line

Overall, Coinhako’s fees and wide spreads make it an expensive platform for trading, especially for frequent users or those making high-volume transactions. 

Alternatives like Kraken offer a more cost-efficient approach, with lower trading fees, tight spreads, and deep liquidity, though Kraken's lack of SGD support may be a drawback for some users.

Investors should consider these factors and trade-offs to select a platform that best aligns with their preferences.