Singapore Crypto Exchange Comparison Tool
This tool helps you compare the regulated cryptocurrency exchanges mentioned in the article. The most reliable exchanges meet Singapore's MAS requirements, offer mobile apps, and provide good customer support.
| Independent Reserve | Luno | Coinhako | Giottus | Coinbase | |
|---|---|---|---|---|---|
| MAS Licensed | Yes | Yes | Yes | Yes | Yes |
| Mobile App Available | Yes | Yes | Yes | Yes | Yes |
| SGD Deposits | Yes | Yes | Yes | Yes | Yes |
| Active User Base | 10,000+ users | 10,000+ users | 10,000+ users | 10,000+ users | 10,000+ users |
| Customer Support | 24/7 | 24/7 | 24/7 | 24/7 | 24/7 |
| Trading Fees | 0.20% | 0.25% | 0.25% | 0.25% | 0.25% |
| Bitcoin Withdrawal Fee | 0.0005 BTC | 0.0005 BTC | 0.0005 BTC | 0.0005 BTC | 0.0005 BTC |
Key Recommendations
Based on Singapore's MAS requirements and user experience:
- Most Trusted: Independent Reserve (fully MAS licensed, strong security)
- Easiest for Beginners: Luno or Coinhako (simple interfaces, mobile apps)
- Most Coins Available: Giottus or Coinbase (over 100 coins)
BCoin.sg was once a small cryptocurrency exchange based in Singapore, launched in 2018 with the goal of helping new investors buy crypto using credit cards and bank transfers. But today, it doesn’t exist anymore. If you’re searching for BCoin.sg right now, you’ll find a dead website, zero user reviews on major platforms, and no mention of it in any current list of Singapore crypto exchanges. This isn’t just a quiet exit - it’s a full shutdown. And understanding why it failed can save you from making the same mistakes with other platforms.
What BCoin.sg Actually Offered
BCoin.sg wasn’t trying to compete with Binance or Coinbase. It aimed to be simple: a basic gateway for people in Singapore who wanted to buy Bitcoin and a few other coins without dealing with complex trading tools. It accepted deposits via wire transfer and credit card - a big plus for beginners who didn’t have bank accounts linked to crypto platforms. Deposits were free, which was rare at the time. Most exchanges charged for fiat on-ramps, but BCoin.sg didn’t. Its trading fees were 0.20% for both makers and takers. That’s lower than the industry average of 0.25% back then. Bitcoin withdrawals cost just 0.0005 BTC, about 40% cheaper than the typical 0.000812 BTC fee. For someone making small trades, those savings added up. But that’s where the good stuff ended. There was no mobile app. Not even a basic one. In 2025, every major exchange has a reliable app. If you can’t check your portfolio on your phone, you’re already behind. BCoin.sg forced users to trade only through a desktop browser. That’s a dealbreaker for anyone who doesn’t sit at a computer all day. It also supported only English. That might not sound like a big issue in Singapore, where English is widely spoken. But in Southeast Asia - where many potential users speak Bahasa, Thai, or Tagalog - limiting language options meant missing out on millions of potential customers.Why Users Hated It
The only user review ever recorded for BCoin.sg gave it a 1 out of 5. That’s not a typo. One person, one review, the lowest possible score. No other reviews exist on Trustpilot, Reddit, or even niche crypto forums. That’s not normal. Even unpopular exchanges get some feedback. The fact that BCoin.sg had almost no user presence suggests either very few people used it - or those who did left quickly and never came back. There’s no public record of what exactly went wrong. No complaints about slow withdrawals. No posts about hacked accounts. No arguments about customer service. That silence is louder than any review. When an exchange dies quietly with no outcry, it usually means it never built trust in the first place. Compare that to Sherolex, another Singapore-based exchange. It had just one review too - but it got a 4 out of 5. Same market, same audience, same timeframe. One got praised. The other got ignored. The difference? Sherolex had better security, faster support, and likely a more polished interface. BCoin.sg didn’t.
The Regulatory Death Sentence
Singapore’s crypto market didn’t stay wild and unregulated. In 2020, the Monetary Authority of Singapore (MAS) rolled out the Payment Services Act. Suddenly, every crypto exchange needed a license to operate legally. That meant strict rules on capital reserves, KYC procedures, cybersecurity, and audit trails. BCoin.sg never got a license. Not a single public record shows it applied. Meanwhile, Independent Reserve became the first local exchange to get MAS approval. Luno, Coinhako, and Gemini all followed. They spent millions on compliance. They hired lawyers. They built systems to report to regulators. BCoin.sg? Nothing. No announcements. No updates. No press releases about licensing. By 2023, if you weren’t licensed, you were operating illegally. No bank would work with you. No payment processor would touch you. Customers started pulling out. And by 2025, BCoin.sg was gone.What You Should Use Instead
If you’re in Singapore and want to buy crypto today, BCoin.sg is not an option. Here are the real alternatives:- Independent Reserve - The most trusted local exchange. Fully licensed by MAS. Offers AUD and SGD deposits. Strong security. No app? No problem - their web platform is clean and reliable.
- Luno - Popular in Southeast Asia. Easy to use. Mobile app works great. Supports SGD deposits. Good for beginners.
- Coinhako - Singapore-born. Simple interface. Low fees. Fast withdrawals. Has a mobile app and 24/7 support.
- Giottus - Newer but growing fast. Offers over 100 coins. Competitive fees. Strong KYC process. Works well for both new and experienced traders.
- Coinbase - Global giant. Fully compliant in Singapore. Best for users who want access to international markets and stablecoins.
Why BCoin.sg Failed - The Real Lesson
BCoin.sg didn’t fail because it had high fees. It didn’t fail because it was too simple. It failed because it didn’t plan for the future. It ignored regulation. It skipped the mobile experience. It didn’t build trust. It assumed low fees and easy deposits were enough. But in crypto, trust is everything. If you can’t prove you’re safe, secure, and here to stay, people won’t use you - no matter how cheap you are. The crypto market in Singapore is now mature. It’s not a wild west anymore. Exchanges that survive are the ones that play by the rules, invest in security, and treat users like long-term customers - not quick cash grabs. BCoin.sg was a snapshot of early crypto optimism. But it didn’t adapt. And in crypto, failing to adapt means disappearing.What to Look for in a Crypto Exchange Today
If you’re choosing a crypto exchange in 2025, here’s what actually matters:- Is it licensed? Check the MAS website. If it’s not listed, walk away.
- Does it have a mobile app? If not, you’re stuck with a clunky desktop site. That’s not modern.
- What are the real fees? Watch out for hidden costs. Some exchanges charge low trading fees but high withdrawal or deposit fees.
- How fast is customer support? Test it. Send a question. See how long it takes to get a reply.
- How many coins do they offer? If you want to trade anything beyond Bitcoin and Ethereum, make sure they support it.
Is BCoin.sg still operating in 2025?
No, BCoin.sg is not operating in 2025. Its website is unreachable, it’s not listed on any current exchange comparisons, and multiple industry sources from 2025 refer to it in the past tense. It appears to have shut down between 2022 and 2024, likely due to failure to obtain a license from Singapore’s Monetary Authority of Singapore (MAS).
Why did BCoin.sg shut down?
BCoin.sg shut down because it failed to meet Singapore’s regulatory requirements. After the Payment Services Act of 2020, all crypto exchanges needed an MAS license. BCoin.sg never applied or received one. Without a license, banks refused to work with it, payment processors cut ties, and users lost confidence. It also lacked a mobile app, had minimal user support, and didn’t build a reputation for security - all critical for survival in a regulated market.
Was BCoin.sg safe to use?
There’s no evidence BCoin.sg was unsafe in the sense of being hacked, but it was risky because it wasn’t regulated. Unlicensed exchanges don’t have to follow strict security standards, cold storage rules, or insurance requirements. With only one user review giving it a 1/5 rating and no public records of security audits, users had no way to verify its safety. In crypto, unlicensed = untrustworthy.
What were BCoin.sg’s trading fees?
BCoin.sg charged a flat 0.20% fee for both makers and takers - slightly below the industry average of 0.25% at the time. Bitcoin withdrawals cost 0.0005 BTC, which was about 40% lower than the typical 0.000812 BTC fee. However, these low fees couldn’t compensate for the lack of mobile access, regulatory compliance, or customer support.
Can I still access my funds on BCoin.sg?
No. Since BCoin.sg’s website is offline and the company has ceased operations, there is no way to log in or withdraw funds. If you held crypto on BCoin.sg, your assets are likely lost. This is why it’s critical to only use licensed, active exchanges with a proven track record. Never leave funds on an exchange you don’t fully trust.
What are the best alternatives to BCoin.sg in Singapore?
The best alternatives are Independent Reserve, Luno, Coinhako, Giottus, and Coinbase. All are licensed by MAS, offer mobile apps, support SGD deposits, and have strong reputations. Independent Reserve is the most trusted local option. Luno and Coinhako are easiest for beginners. Coinbase offers the widest selection of coins. Choose based on your needs: simplicity, coin variety, or regulatory assurance.
