Coinhako In-Depth Review | Is Coinhako Reliable? A Complete Analysis of Singapore's MAS Regulation, Trading Experience, and User Reputation

1. Brand Background and Development History

Founded in 2014 by Singaporean engineer Yusho Liu and former Silicon Valley developer Gerry Eng, Coinhako is a local cryptocurrency exchange. Its original intention was to provide Southeast Asian investors with a simple and secure way to buy and sell cryptocurrencies .

• Headquarters : Singapore

• Regulator : Monetary Authority of Singapore (MAS)

• Core business : fiat currency deposits, cryptocurrency trading, wallet services

• Number of users : More than 300,000 (official data)

• Market positioning : The main compliance entry point for local retail investors in Singapore

Coinhako is Singapore’s equivalent to Coinbase in the United States and is one of the most widely used local crypto platforms for retail investors.

📌 Evidence: Coinhako official introduction

II. Supervision and Compliance

Regulation is Coinhako's biggest advantage.

1. License issued by MAS

Coinhako officially obtained the Major Payment Institution (MPI) license granted by the Monetary Authority of Singapore (MAS) in 2022, legally providing Digital Payment Token (DPT) services.

• Regulatory basis : Payment Services Act (PSA)

• Compliance requirements : segregated storage of customer funds, AML/KYC review, regular audits

• Risk Warning : MAS requires exchanges to disclose risk statements on their official websites, reminding investors of the high volatility of cryptocurrencies.

📌 Evidence:

• MAS Official Payment Service Provider List

• Straits Times reports that Coinhako has been licensed

2. Comparison with unlicensed exchanges

• Binance.sg : Forced to withdraw from the Singapore market in 2021 due to failure to comply with MAS requirements.

• Coinhako : Obtained license in compliance and continues to serve Singapore users.

• Conclusion : Coinhako’s compliance status greatly enhances its market competitiveness.

III. Account Types and Trading Conditions

Coinhako offers three types of accounts:

Highlights:

• SGD Deposit : You can directly use SGD to buy BTC, ETH, etc.

• Credit card payment : convenient but the transaction fee is relatively high.

📌 Evidence: Coinhako Fee Explanation

IV. Trading Products and Market Coverage

Coinhako offers over 60 major cryptocurrencies for trading:

• Bitcoin (BTC)

• Ethereum (ETH)

• Ripple (XRP)

• Cardano (ADA)

• Solana (SOL)

• Stablecoins USDT and USDC

Unlike Binance and OKX, which often offer hundreds or even thousands of "altcoins", Coinhako adopts a strict screening strategy and only supports crypto assets with strong compliance.

📌 Evidence: Coinhako Supported Coin List

5. Trading Experience and Technical Performance

1. Interface design :

• Simple and intuitive, suitable for beginners.

• The operations on the web and mobile versions are the same.

2. App Performance :

• Apps are available on both iOS and Android platforms.

• The App Store rating is about 4.6/5 , and the Google Play rating is about 4.4/5 .

3. Order Execution :

• It is not a professional deep matching exchange, but more like a "one-click buying and selling service".

• Suitable for small retail users.

4. Security :

• Combined hot and cold wallet storage.

• Multi-signature mechanism.

• MFA two-factor authentication.

📌 Evidence: Coinhako App Download Page

6. Deposit and Withdrawal Experience

📌 Evidence: Coinhako Deposit Methods

7. Customer Service and Multilingual Support

• Customer Service Channels :

• Email: [email protected]

• Online work order system

• Supported languages : English, Chinese

• Customer Service Hours : Weekdays 09:00–18:00 SGT

Users generally reflect:

• The response speed of work orders is acceptable, but there may be delays during peak periods.

• The customer service style is closer to that of traditional financial institutions.

8. Media and User Reviews

1. Media coverage

• The Straits Times : Coinhako has obtained a MAS license, becoming a legal and compliant platform.

• Tech in Asia : It is evaluated as having built "strong regulatory barriers" in the Southeast Asian market.

2. User word of mouth

• Positive reviews:

• Deposits are convenient and the SGD channel is irreplaceable.

• The interface is user-friendly and novice-friendly.

• Compliance, strong sense of security.

• Negative reviews:

• The number of currencies is limited.

• The handling fee is relatively high.

• Lack of contract and leverage functions.

IX. Risk Warning

• Market limitations : Mainly limited to the local market in Singapore.

• Lack of derivatives : Not attractive enough for professional traders.

• Transaction fee issue : High-frequency trading users have higher costs.

10. Comprehensive Rating

• Regulatory compliance: 9/10 — MAS official license, strong regulatory endorsement.

• Trading Experience: 8/10 — User-friendly interface, suitable for beginners.

• Deposit Ease: 9/10 — The SGD channel is a strong contender.

• Fee Level: 7/10 — Fees are a bit high.

• User reputation: 8/10 - High local recognition.

Overall score: 8.2/10 – The preferred platform for compliant investors in Singapore.

📌Conclusion :
Coinhako is one of the few fully compliant crypto exchanges in Southeast Asia. For Singaporean users, it provides secure and convenient fiat deposits and trading channels for major cryptocurrencies. While it doesn't support futures contracts or smaller cryptocurrencies, its MAS license gives the platform a unique advantage in the local market.