Best Crypto Exchange in the Philippines: Top Platforms Compared for the Filipino Investors
- The Master Sensei
- Oct 25
- 7 min read
The Philippines is buzzing as one of Asia’s most active crypto markets—over 10% of Filipinos own digital assets now. But with so many exchanges out there, all promising different features, fees, and security, picking the right one can get overwhelming.
PDAX gets the top spot for Filipino users, thanks to its BSP license, direct peso deposits, and solid regulatory compliance. Coins.ph is great for beginners or anyone who wants payments built in, Maya stands out for its banking integration, and Binance is the go-to for advanced traders who want access to tons of tokens. Your best bet? Pick a platform that fits your experience level and gives you reliable peso on-ramps.
BSP-licensed exchanges offer the strongest consumer protections and the easiest way to move pesos in and out. These regulated platforms handle peso deposits via InstaPay, PESONet, and bank transfers, while sticking to proper KYC and AML rules. If you’re trading pesos, stick to licensed exchanges. For more coins or advanced trading, you can always pair them with a global platform.
Key Takeaways
BSP-licensed exchanges like PDAX, Coins.ph, and Maya are the safest for peso trading and have regulatory oversight.
Different platforms cater to different needs, from beginner apps to advanced trading with lots of tokens.
Good security habits—like 2FA, keeping records, and using self-custody wallets—are a must for safe trading.
Best Crypto Exchanges in the Philippines
Filipino traders have options: BSP-licensed local platforms for direct PHP deposits, or international exchanges if you want more coins and features. Local Virtual Asset Service Providers (VASPs) give you regulatory protection, while global platforms usually have more advanced tools.
Top Licensed Local Platforms
PDAX is the leading homegrown crypto exchange. With its BSP license, you can deposit pesos directly via InstaPay and PESONet. There’s spot trading for Bitcoin, Ethereum, and a handful of altcoins, all with local peso liquidity.
Coins.ph (Betur Inc.) doubles as an e-wallet and crypto platform. It’s BSP-licensed and hooks up with GCash and other local payment networks. You can buy Bitcoin and other coins, pay bills, and even send remittances.
Maya lets you buy crypto right inside its banking app. You can start with as little as ₱1. It’s a VASP, so you get digital banking and crypto investing all in one place.
UnionBank broke ground as the first universal bank with BSP VASP approval. You can buy and hold supported cryptocurrencies directly from your online banking dashboard, alongside your regular accounts.
Leading International Exchanges for Filipinos
Binance is the most popular global exchange among Filipinos. It offers a huge selection of cryptocurrencies and low fees. Most people fund their accounts with PHP by using P2P trading or transferring from a local exchange.
Bybit is big on derivatives and also has a solid spot market. There’s a wide range of coins, not just Bitcoin and Ethereum. Many traders use Bybit together with a local exchange for fiat on- and off-ramps.
MEXC lists tons of altcoins and new tokens. Fees are competitive, and you can stake coins too. But getting PHP in and out can be tricky—you’ll need to use alternative methods.
Kraken is known for its pro-level tools and security. It supports all the major coins and offers advanced order types. If you’re after deep market analysis and solid custody, Kraken’s a strong choice.
Key Features to Compare
Regulatory compliance is a big difference. BSP-licensed exchanges have to follow strict KYC and AML rules. International platforms? Their compliance varies a lot.
Crypto selection is another factor. Local exchanges usually stick with Bitcoin, Ethereum, and a few altcoins. Global platforms offer hundreds of pairs.
Fees can eat into your profits. International exchanges usually have lower maker and taker fees. Local ones sometimes add convenience fees, especially for small buys.
Regulation, Security, and User Protection
The Bangko Sentral ng Pilipinas (BSP) has laid down clear rules for crypto exchanges and requires strict security to keep users safe. Licensed platforms need to verify your identity and use proper safety features.
Government Oversight and Compliance
The Bangko Sentral ng Pilipinas (BSP) regulates exchanges as Virtual Asset Service Providers (VASPs), following the rules under BSP Circular No. 1108.
If a platform wants to offer services, it needs BSP approval. The Securities and Exchange Commission also keeps an eye on some crypto activities.
Only BSP-licensed platforms can handle Philippine peso deposits and withdrawals. Always check the official BSP VASP list before picking an exchange.
Key licensed platforms:
Binance and other global exchanges don’t have local licenses. If you want to use pesos, you’ll need to use peer-to-peer trading or move funds between platforms.
The Bureau of Internal Revenue is still ironing out tax rules for crypto. You’re supposed to report your gains and keep detailed records of your trades.
Mandatory KYC and AML Procedures
All BSP-licensed exchanges require you to complete Know Your Customer (KYC) checks. That means submitting a government ID, a selfie, and some personal info.
They also have to follow Anti-Money Laundering (AML) rules, which means monitoring transactions and reporting anything suspicious.
Typical verification steps:
Submit a valid government ID
Show proof of address
Take a selfie
Provide income docs if you want a high-limit account
Platforms set different limits based on how much info you provide. Basic accounts let you do small trades; full verification unlocks higher limits.
When you transfer large amounts, exchanges share details with other licensed platforms. It’s all about keeping things above board.
Security Features and Best Practices
Licensed exchanges use several layers of security to keep your funds and data safe. Two-factor authentication (2FA) is usually required.
Key security features:
Cold storage for the bulk of crypto assets
SSL encryption for all data transfers
Regular security audits
Deposit insurance (on some platforms)
Use an authenticator app for 2FA—it’s more secure than SMS. Strong, unique passwords and checking your account regularly can help you spot any weird activity.
Many platforms let you whitelist withdrawal addresses and require email confirmations for big transfers. These steps add extra protection.
BSP-licensed exchanges must keep customer funds separate from company money. That way, if the company runs into trouble, your crypto stays safe.
Keep your private keys and seed phrases to yourself—never share them. For big balances, a hardware wallet is still the gold standard for security.
Frequently Asked Questions (FAQs)
Binance tops the charts with 385 crypto assets and 0.1% spot fees. PDAX is the local champ with BSP licensing. Coins.ph is great for PHP support and GCash integration. Kraken’s got industry-leading security, even going as far as armed guard server protection. Wild, right?
What are the top-rated cryptocurrency exchanges available in the Philippines?
Binance scores a 4.8/5, offering 385 coins and a full suite of trading options—spot, futures, margin, you name it.
Bybit is up there too, with a 4.8/5 and a focus on derivatives. It lists 331 assets, has 0% spot fees, and supports up to 125x leverage (if you’re feeling adventurous).
Kraken also gets a 4.8/5, with strong security and 222 supported cryptocurrencies. It’s based in San Francisco and offers both simple and advanced trading.
Coins.ph lands a 4.7/5, making it a solid local pick for PHP support. PDAX is at 4.4/5, holding down the fort as a BSP-regulated exchange.
Which platforms offer the lowest transaction fees for crypto trading in the Philippines?
Bybit leads with 0% spot trading fees and 0.01% maker fees for futures. New users get 0% spot fees for their first 30 days.
Crypto.com keeps things simple at 0.075% across all pairs—makes fee math a breeze.
Binance charges 0.1% for spot, and 0.02%-0.04% for futures. Their P2P marketplace even lets you buy PHP with zero fees.
OKX has 0.08% maker and 0.10% taker fees. Kraken’s at 0.16% maker and 0.26% taker.
Are there any Philippine-based crypto exchanges that support international trading?
PDAX is BSP-licensed and mostly serves the local market, supporting 13 coins with trading fees around 40-50 basis points.
Coins.ph connects to international markets and supports 34 cryptocurrencies. Maker fees are 0.25%, taker fees 0.30%.
For broader international trading, most people use global platforms like Binance or Bybit. These have way more trading pairs and deeper liquidity.
Philippine exchanges usually offer fewer international options—they’re more focused on PHP and local needs.
How do the security measures of popular Philippine crypto exchanges compare?
Kraken leads the pack with 24/7 armed guard server protection and PGP-signed emails. They also have real-time activity monitoring and tough encryption.
Binance has serious security too—2FA, cold storage, the works. They’ve built a reputation for protecting user funds.
PDAX follows BSP rules, which require specific security standards and compliance. That regulatory oversight adds peace of mind for local users.
Coins.ph sticks to local security requirements, but global exchanges often invest more in advanced infrastructure.
Can you specify the crypto exchanges in the Philippines that provide the best customer support?
Binance runs 24/7 support—live chat, email, multiple languages, and a huge help section.
Coins.ph offers local support, Filipino language help, and knows the ins and outs of domestic payments. They’ve got phone support during business hours.
PDAX focuses on Philippine market needs and regulatory stuff, so you get personalized service.
Kraken and Bybit have big online resource libraries and ticket-based support. Response times can depend on where you are and your account level.
What options are there for fiat to crypto transactions on Philippine exchanges?
Coins.ph lets you deposit PHP straight from GCash, Maya, or local banks. You can pick up crypto with pesos, no fuss, no currency swap.
Binance runs a peer-to-peer marketplace where you can buy crypto with PHP and skip the fees. You’ve got GCash, bank transfers, and SEA transfers as payment choices.
Kraken takes PHP deposits via bank cards and Google or Apple Pay, but they handle everything in USD. Heads up: your bank might tack on some conversion fees.
PDAX, as a local regulated exchange, backs direct peso funding. Bybit? You’ll need to use its P2P marketplace to buy crypto with PHP.
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