Singapore is quickly emerging as one of the most innovative and progressive countries regarding cryptocurrency and blockchain technology.
The need for secure and reliable crypto wallets has increased along with the popularity of cryptocurrencies.
In Singapore, there are a variety of crypto wallets to choose from, so it can be challenging to know which one is the best.
This article gives an overview of the best crypto wallets in Singapore based on criteria such as security, user experience, compatibility, and previous security breaches.
Table of Contents
By the end of this article, readers will better understand the top wallets and crypto exchanges in Singapore and be able to make an informed decision on which one to use.
Trust wallet
True wallet is a cryptocurrency wallet allowing users to store and manage their digital assets securely.
The wallet supports coins and tokens from 65 blockchains, saving users the stress of downloading multiple wallet apps. It also allows the collection of Ethereum and BNB-based NFTs.
Trust Wallet takes security seriously and implements several measures to protect its users’ funds and personal information.
Such as Private keys stored on the device, Two-factor authentication (2FA), Biometric authentication and Encrypted backups that can be used to restore the user’s wallet when the mobile device is stolen or lost.
Also, Trust Wallet is an open-source application, which means anyone can review the code and look for potential security vulnerabilities.
The wallet also uses industry-standard encryption to ensure that all communication between the app and the servers is secure.
As a result of all the security measures taken, Trust Wallet has not experienced any major security breaches that have resulted in the loss of user funds or personal information.
Above all, Trust wallet is one of the best crypto wallet apps in Singapore, it works seamlessly for digital asset buyers and sellers.
Ledger
Ledger is a famous brand of hardware wallets that offer high security for cryptocurrency storage.
Ledger wallets are physical devices that store the user’s private keys offline, providing an added layer of security compared to software wallets or online exchanges.
The Ledger Nano S and Ledger Nano X are the most popular models, supporting many cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Ledger also offers a range of additional features, including the ability to send and receive crypto assets, view transaction history, and manage multiple accounts.
The Ledger wallets also support integration with popular cryptocurrency wallets and exchanges, making it easy for users to transfer their assets between different platforms.
Looking for a reliable way to safe your cryptos? Ledger should be on your list of crypto wallets in Singapore
Coinhako
Coinhako is one of the best crypto exchanges in Singapore and a wallet provider based in the Asian country.
It offers a range of services, including the ability to buy and sell various cryptocurrencies and store them in a secure wallet.
Coinhako’s wallet supports over 30 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Coinhako allows users to pay directly with Singapore dollars.
Coinhako wallet’s security features to protect users’ funds include: two-factor authentication, multi-signature support, and cold storage for a portion of its customers’ funds.
Additionally, Coinhako’s wallet supports seamless integration with its exchange platform, allowing Singaporean crypto buyer and sellers to quickly transfer their assets between their wallet and their exchange account.
Data breach:
In May 2020, Coinhako suffered a data breach that exposed the personal information of 30,000 users, including their names, email addresses, phone numbers, and national ID numbers. However, no user’s cryptocurrency holdings or funds were lost due to the breach.
After the breach, Coinhako took extra security measures, like enhancing its security protocols and implementing additional user authentication requirements to prevent similar incidents.
Coinbase
Coinbase Singapore is one of the best crypto wallets. Coinbase is a well-established cryptocurrency exchange and wallet provider with a significant user base in Singapore.
Coinbase’s wallet is a software wallet allowing users to securely store and manage their cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
The wallet is designed to be easy to use, with a simple and intuitive interface that allows users to quickly and easily send and receive cryptocurrencies.
Coinbase’s wallet is integrated with its exchange platform, allowing users to transfer their assets between their wallet and exchange account quickly.
The Coinbase wallet is designed with several security features, including two-factor authentication, biometric authentication, and multi-signature support, which provide an added layer of protection for users’ funds.
Like other software wallets vulnerable to online hackers, Coinbase has experienced some security breaches.
However, the company has taken the necessary steps to improve its security measures and has not experienced a significant breach in recent years.
In 2020, Coinbase disclosed that it had suffered a phishing attack that resulted in over 6,000 customer accounts theft.
The company immediately secured the affected accounts and prevented further unauthorized access.
Huobi
Huobi is one of the largest Singapore-based crypto exchanges, it also provides a secure crypto wallets for Singaporean crypto traders.
The Huobi Wallet is a mobile wallet application that securely stores manages, and transfers various cryptocurrencies.
The Huobi Wallet supports over 300 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and many others.
Users can also access decentralized applications (DApps) directly from the wallet.
The Huobi Wallet offers a multi-layered security system, including two-factor authentication, biometric authentication, and hardware wallet support.
The wallet also uses advanced encryption technologies to secure user data and funds.
Conclusion:
Singapore has a wide range of crypto wallets, and this article highlighted the top five crypto wallets available in Singapore.
While all the best crypto wallets in Singapore are mentioned in this article, each of them has strengths and weaknesses, they are generally secure, easy to use, and have a good reputation.
It is important that users choose a wallet that meets their needs and take necessary security measures such as enabling two-factor authentication, using strong passwords and not sharing private keys with anyone.