8 Best Crypto Exchanges In The Philippines
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There are hundreds of cryptocurrency exchanges are available to Filipino investors. However, only a few are worth using. After careful research, we've compiled a list of the top crypto trading platforms for residents of the Philippines. Throughout this comparison of the best crypto exchanges in the Philippines, we've highlighted why we've picked each platform based on its local currency support, country-specific restrictions, ease of use, trading fees, and features.
Best Crypto Exchanges in the Philippines for 2023
- Binance (best overall crypto exchange in the Philippines)
- Bybit (best crypto exchange for futures trading)
- Kraken (secure crypto trading platform)
- Coins.ph (buy and sell crypto with PHP)
- eToro (trade crypto with a regulated broker)
- PDAX (regulated crypto exchange in the Philippines)
- OKX (fiat-to-crypto exchange with lots of payment methods)
- Crypto.com (trusted exchange with low fees)
Cryptocurrency Exchanges In Philippines Compared
| Exchange | Crypto Assets | Trading Fees | Rating | Promotion | Website | Review |
|---|---|---|---|---|---|---|
 Binance | 350 | 0.1% (spot) and 0.02% / 0.04% (Futures) | Rating    | Up to $100 welcome bonus | Visit Binance | Binance Review |
 ByBit | 331 (608 trading pairs) | 0% (spot), 0.06% / 0.01% (futures) | Rating | 0% trading fees for 30 days (spot only) | Visit ByBit | ByBit Review |
 Kraken | 222 | 0.16% (maker) and 0.26% (taker) | Rating | None available at this time | Visit Kraken | Kraken Review |
 Coins.ph | 34 | 0.25% (maker) and 0.30% (taker) | Rating | None available at this time | Visit Coins.ph | |
 eToro | 79 | 1% | Rating | None available at this time | Visit eToro eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Archived, "Virtual currencies are highly volatile. Your capital is at risk." | eToro Review |
 PDAX | 13 | 40 and 50 basis points | Rating  | None available at this time | Visit PDAX | |
 OKX | 349 | 0.08% (maker) / 0.10% (taker) | Rating | None available at this time | Visit OKX | OKX Review |
 Crypto.com | 229 | 0.075% | Rating | None available at this time | Visit Crypto.com | Crypto.com Review |
Best Crypto Trading Platforms In Philippines Reviewed
1. Binance - Overall Best Exchange in the Philippines
Binance has grown exponentially over the years to become the go-to hub of the crypto world. It is the largest crypto exchange in the world (by volume) and provides Filipino crypto investors (beginners and serious traders) with an easy-to-use platform packed with helpful features and tools.
Binance is overall our top-rated pick as it's one of the most comprehensive exchanges out there. With support for staking, liquidity farming, and mining pools, it's the perfect option for fans of passive yield. Furthermore, Binance offers crypto loans, an NFT marketplace, and trading bots, meaning customers don't need to sign up for any other crypto exchanges.
One of the best aspects of Binance is its range of markets and tradable assets. The exchange offers margin trading, futures trading, spot trading, and leveraged tokens. In addition, users can access 385 cryptocurrencies and 1,395 trading pairs in the Philippines, meaning the platform will always have profitable opportunities.
For crypto traders, Binance offers propriety and TradingView-powered charting, enabling users to plot advanced strategies and perform detailed analyses easily without using any other charting website for crypto. Furthermore, Binance is accessible on desktop and mobile for active investors.
Although Binance doesn't directly support credit/debit cards or bank transfer deposits using PHP, Filipino investors can buy crypto using PHP via the express peer-to-peer (P2P) marketplace at near true cost with zero fees. Furthermore, many P2P payment methods are available, including Gcash, bank transfer, and SEA transfer.
Overall, Binance is the perfect exchange for investors looking for an all-in-one crypto platform in the Philippines. For crypto-to-crypto trading, it has one of the cheapest fees at 0.1% per transaction, which provides excellent value for money and cements its status as the overall best cryptocurrency exchange. However, the exchange is not licensed in the Philippines, which is something to remember.
Binance Pros:
- All-in-one crypto exchange
- Zero fees to buy crypto on Binance P2P
- Excellent range of supported assets and markets
Binance Cons:
- No native PHP support
- Not a regulated exchange in the Philippines
2. Bybit - Best Derivatives Exchange in the Philippines
Bybit is a feature-rich derivatives exchange with low fees and lightning-fast order execution. The second largest derivatives trading platform, Bybit, is ideal for serious crypto traders in the Philippines looking for leveraged products like futures and options contracts. Additionally, it's a no-KYC crypto platform meaning new users can trade crypto without ID verification.
https://bybit.comLike Binance, Bybit offers a comprehensive suite of cryptocurrency-related tools. Some of these include a decentralized exchange (DEX), grid trading crypto bots, an NFT marketplace, and MetaTrader 4 support (which is unique to this list). Additionally, Bybit has a well-designed copy trading platform enabling beginners to trade without experience and advanced users to earn an additional monthly paycheck.
Where Bybit really shines is the trading pair support and the range of tradable markets. There are 331 unique crypto assets and 608 trading pairs with up to 125x leverage. The exchange supports futures trading, 3x leveraged tokens, crypto options trading, and inverse contracts, making it a solid crypto exchange in the Philippines for derivatives traders with very competitive trading fees 0.1% (spot) and 0.06% / 0.01% (futures).
Although Bybit offers an advanced array of products, the exchange remains simple to use and accessible for beginners as well those with more experience. Furthermore, because Bybit offers a propriety trading interface in addition to one provided by TradingView, users can access tens of technical indicators and extensive drawing tools for performing analysis.
However, Bybit does not natively support Philippine Peso deposits which is a disadvantage to the local exchanges in this list. There are one-click buys in PHP using a bank card that may be useful but essentially customers will need to use its P2P marketplace to purchase USDT, BTC, ETH, and USDC using PHP.
In short, Bybit is a well-rounded crypto exchange that, while unregulated in the Philippines, provides an easy way for customers to access derivatives-based products. As such, the exchange is worth checking out for anyone looking to trade contracts with up to 125x leverage.
Bybit Pros:
- Up to 125x leverage on crypto leverage products
- Does not require immediate KYC
- Copy-trading feature to follow profitable traders
Bybit Cons:
- No native PHP deposit
- Range of features could overwhelm beginners
3. Kraken - Best crypto exchange for security
Kraken is a popular cryptocurrency exchange that is headquartered in San Francisco. Due to the industry-leading security measures offered by the platform, it has become a favorite of investors and traders looking for maximum protection and a secure place to trade crypto. Additionally, Kraken prides itself on security, offering PGP-signed email communications, real-time activity monitoring, and 24/7 server surveillance by armed guards.
Kraken offers all of its features to investors and traders based in the Philippines. There is a basic interface that enables users to complete simple actions like buying, selling, and converting crypto. Alternatively, traders can access the newly released Kraken Pro platform to attain an advanced trading interface that offers a comprehensive suite of drawing tools and technical indicators. Additionally, Kraken offers an NFT marketplace containing high-profile collections like the Bored Ape Yacht Club.
When it comes to account funding, Kraken enables Philippines residents to deposit using a bank card or Google/Apply Pay using PHP. However, all transactions are processed in USD which means deposits could incur foreign currency conversion fees that will depend on the bank which is a downside. Moreover, other fees such as the maker/taker system are priced at 0.16% and 0.26% respectively which isn't the cheapest crypto exchange in the Philippines.
Despite this limitation, Kraken supports 224 cryptocurrencies denominated in stablecoins and fiat currencies, bringing the total number of trading pairs to 710. Furthermore, Kraken offers margin trading in the Philippines with up to 5x leverage but is lacking compared to Binance and Bybit.
Overall, Kraken will be suitable for beginners looking to progress to more advanced trading down the line, but the higher fees and lack of direct PHP deposit support mean that the platform is overshadowed by competitor exchanges like Binance and Bybit, which offer a more comprehensive platform to invest in crypto.
Kraken Pros:
- Basic and advanced modes for beginners and experienced users
- Industry-leading security features
- Full exchange services available to Philippines
Kraken Cons:
- Above-average trading fees
- Does not support direct PHP deposits (FX conversion fees can apply)
4. Coins.ph - Best Filipino Crypto Exchange With PHP Markets
Coins.ph is a Philippines-based crypto exchange founded in 2014 and now serving more than 16 million customers, primarily within Southeast Asia. The exchange offers native support for Philippines Pesos and boasts a plethora of PHP-denominated trading pairs, making it one of the best exchanges to buy crypto with PHP (and a solid alternative to local exchange PDAX).
https://coins.ph/It is one of the few crypto exchanges with PHP fiat currency deposits making it one of the better local crypto exchanges. There is a range of local payment methods, including banks like AllBank and Asenso, as well as e-wallets like GCash and JuanCash. Furthermore, Coins.ph supports deposits via remittance centers, including 7-Eleven.
There are 32 PHP-denominated pairs and two (BTC and ETH) USDT-based pairs, bringing the total number of tradable assets to 34. While the exchange offers trading volume-based discounts, its trading fees start at 0.25% (maker) and 0.30% (taker), which is expensive compared to its competitors.
Outside of its compliance with BSP regulations, one of the most significant benefits of Coins.ph is its ease of use. The exchange boasts a beginner-friendly interface with TradingView integration, making the platform ideal for new traders and investors. Furthermore, the inclusion of a simple buy/sell menu amplifies its beginner-friendly nature.
However, we found the web-based version is limited in terms of features, with it only offering an order book-based spot exchange and a simple way to buy and sell Bitcoin and other cryptos using PHP. Moreover, Coins.ph does not support margin or futures trading. However, the mobile version of Coins.ph lets users cash out their crypto and pay pills without switching platforms.
In short, Coins.ph is a great option to consider in the Philippines to buy and trade crypto. It has a well-designed exchange with PHP-based crypto trading pairs and an off-ramp to withdraw cash to avoid foreign conversion fees. However, its fees are higher than other exchanges and will not be suitable for active or high net-worth investors.
Coins.ph Pros:
- PHP deposits and trading pairs
- Support for local payment methods
- Local exchange that is headquartered in the Philippines
Coins.ph Cons:
- Trading fees are quite high
- Some features are only available on mobile
5. eToro - Best Mixed Asset Trading Platform
eToro is a well-known trading platform that first launched in 2007 as a stock/commodity broker before adding support for cryptocurrency in 2018. While lacking the crypto-centric choices offered by other exchanges on our list, eToro provides access to several traditional asset classes, making it perfect for those wishing to create a well-balanced portfolio. While eToro is available to Filipino investors and traders, it's not regulated within the region, meaning users in the Philippines will be redirected to the Schelleyes-licensed platform.
To cater to the crypto traders on the platform, eToro offers several valuable features, including a demo account funded with $50,000 in virtual funds, a crypto wallet, and a leading copy trading platform enabling users to mirror more experienced traders automatically.
Because eToro is primarily a contract-for-difference (CFD) broker, it's crucial to understand that while buying crypto provides ownership of the underlying assets, sell orders are CFD-only and are not backed by any assets. Those that consider eToro can trade 71 crypto assets with up to 5x leverage (CFD-only).
eToro boasts a simple and intuitive interface that anyone can quickly get used to. Furthermore, the platform offers pre-created portfolios, which makes building a diverse set of holdings quick and easy. However, charting is limited to a simple line graph with no drawing tools, making it impossible to perform detailed analysis without a third-party tool which is a con for serious traders.
While eToro accepts deposits using PHP, the funds will be converted to USD, incurring a conversion fee. Furthermore, while users can deposit via bank account transfer, credit/debit cards, Skrill, and PayPal, no local payment methods in the Philippines are supported. Moreover, eToro charges a 1% trading fee, making it one of the more expensive platforms.
While eToro is a world-class platform that offers a reasonable number of cryptocurrencies and thousands of other instruments, the high fees and a lack of cryptocurrency tools significantly hinder its performance. As such, eToro is primarily recommended for those looking to invest in multiple asset classes or anyone looking for an active copy trading platform.
eToro Pros:
- Multiple asset classes to invest in
- Up to 5x leverage on crypto trades
- Easy to use platform for crypto investing
eToro Cons:
- Above-market fees to buy crypto
- Lacks crypto trading tools and charting indicators
6. PDAX - Best Regulated Crypto Exchange In Philippines
Philippine Digital Asset Exchange (PDAX) was founded in 2017 and has quickly become one of the leading Philippines-based crypto exchanges because it is regulated by the Bangko Sentral ng Pilipinas (BSP). With native support for Philippines Pesos and PHP-denominated trading pairs, the platform is an excellent choice for anyone wishing to trade in their local currency.
https://pdax.ph/Filipino investors will be happy with the range of payment methods offered by PDAX. Customers can deposit and withdraw funds using local banks like PNG, RCBC, and InstaPay. Additionally, e-wallets like GCash, Maya, and Palawan Pay are available on top of over-the-counter processors like ChinaBank, PeraHub, and AUB.
Although PDAX is a good exchange for depositing PHP, it is a limited platform and lacks many additional features compared to other exchanges. Serious crypto traders won't find any form of derivatives trading. However, the platform does offer 13 PHP-denominated trading pairs, including BTC/PHP, ETH/PHP, and LINK/PHP. The exchange uses a maker/taker fee structure priced at 40 and 50 basis points, respectively which is expensive.
PDAX is geared toward beginners as well as experienced traders due to its offering a basic mode with only essential features and an advanced platform that provides access to the order book. However, no price charts are present on either interface and while there is a legacy mode that states it offers charts, it showed a 404 error in our testing rendering it unusable.
In summary, PDAX is a strong choice for investors and traders looking for a platform that natively supports PHP deposits and offers many local payment methods. But its limited range of assets and lack of charting tools means that the platform is unsuitable for technical traders or those looking to perform analysis without using another site.
PDAX Pros:
- Exchange supported PHP deposits and withdrawals
- Wide range of payment methods
- Suitable for beginners
PDAX Cons:
- Does not have a wide selection of cryptos
- No charting capability
7. OKX - Best for Fiat-to-Crypto Purchases
OKX (formally OKEx) is a market-leading cryptocurrency founded in 2017 and based in Seychelles. In contrast to some other mainstream exchanges, OKX lets users buy over 70 cryptocurrencies using PHP, making it a strong choice for Filipino investors without existing crypto holdings.
https://www.okex.com/Unfortunately, PHP is not supported on OKX as an account currency. However, customers can buy crypto using PHP using several payment methods, including Bank transfer, GCash, PayMaya, Xanpool, and Union Bank. As such, OKX is an excellent fiat-to-crypto gateway for Filipino investors and one of the more feature-rich exchanges in this list.
Once an account is funded, OKX has various products like staking, trading bots, copy trading, and crypto loans that provide a way for customers to earn interest on their holdings. OKX also offers a demo account for novice traders looking to improve their skills without wasting real money.
OKX users can spot-trade 332 cryptocurrencies, and 729 trading pairs denominated in stablecoins and altcoins. Additionally, the exchange supports 187 derivatives markets, bringing the total number of tradable assets on the platform to 916. However, no PHP-based pairs are present on the exchange, which is a disadvantage compared to PDAX and Coins.ph. However, the fees are cheaper starting at 0.08% (maker) and 0.1% (taker).
As for the user experience, OKX is simple-to-navigate and features a basic mode with a line chart and a straightforward interface, perfect for anyone aiming to invest with minimal effort. Additionally, OKX offers an order book-based interface for advanced traders that uses TradingView's software to provide analytical and drawing tools.
Overall, while OKX lacks any PHP-denominated trading pairs and the ability to deposit using Philippine pesos, its fiat-to-crypto payment methods, beginner-friendly nature, and interest-based features mean the platform is solid option for anyone looking to buy crypto to earn passive yields.
OKX Pros:
- Supports local payment methods using P2P platform
- Well-known and trusted exchange
- Wide range of cryptos to buy and sell
OKX Cons:
- No PHP trading pairs
- Can't deposit or withdraw PHP
8. Crypto.com - Best for Low Trading Fees
Crypto.com is one of the best-known exchanges in the world. Founded in 2016 and now serving over 80 million users across the planet, Crypto.com is a powerhouse in the industry and boasts some of the lowest fees available, making it an excellent choice for traders in the Philippines looking to maximize their investment.
Crypto.com is divided into two platforms, an exchange, and an app. The former offers derivatives trading, automation tools, staking, and yield farming. However, the latter provides a fiat-to-crypto gateway and the ability to manage the company's Crypto debit card.
On the Crypto.com exchange, there are 223 trading pairs denominated in stablecoins and altcoins for 523 trading pairs. Crypto.com also offers 93 derivatives markets, meaning there are 616 trading pairs across every market. Furthermore, Crypto.com is one of the cheapest exchanges, with trading fees of just 0.075%. There are even zero-fee crypto conversions between stablecoins.
The Crypto.com app and exchange are designed well and feature an intuitive interface that is easy for customers to familiarize themselves with. However, being split into two platforms with different functionality could confuse anyone without experience using the platform.
While the Crypto.com exchange is strictly crypto-to-crypto, the app enables users to top up their accounts using fiat currencies via bank transfers and credit or debit cards. However, PHP is not supported as an account currency, meaning Filipino investors could be charged currency conversion fees by their bank when using Crypto.com.
Crypto.com is a leading name in the crypto industry and boasts extremely low trading fees, but its lack of support for PHP and local payment methods means customers could end up paying more compared to other platforms like OKX, which supports PHP purchases via its P2P exchange.
Crypto.com Pros:
- Low trading fees
- Large selection of cryptos to buy
- User-friendly mobile app
Crypto.com Cons:
- Split into two different platforms which is confusing
- Can't deposit or withdraw using PHP
What To Look For When Choosing A Crypto Exchange
Customers wishing to find the best crypto exchange in the Philippines must consider what they want in a trading platform. Below, we've summarized the main factors to look out for to help you decide which platform best matches your needs.
- Local Currency Support. When selecting a cryptocurrency exchange, users must check whether it supports their local currency. If a platform requires deposits in a particular fiat currency (e.g., USD), the customer can have to pay hefty currency conversion fees. It's best to use an exchange supporting deposits in PHP to avoid this.
- Features. The importance of the features offered by a cryptocurrency trading platform will depend on the user's requirements. However, it's advisable to carefully think about which products (e.g., margin trading or staking) are likely to be needed in the future. After doing so, it makes it far easier for users to filter through platforms to find the best crypto exchange for their needs.
- Reputation. Another vital area to consider is the reputation of a cryptocurrency exchange. Generally, if a platform is plagued with negative reviews, it shows that users often encounter issues. Conversely, if customers are happy with the service, new users will probably be too. There are lots of customer review platforms, but Trustpilot tends to be one of the best.
- Range of Assets. For active traders and investors wishing to build a well-diversified portfolio, having the ability to search through many assets to find profitable opportunities is crucial. As such, anyone looking for a new platform to buy and sell digital assets should check the number of tradable assets before registering for a new exchange.
Frequently Asked Questions
After extensively researching the best crypto exchanges in the Philippines, we found Binance to offer the best all-around performance due to its wide range of features, low fees, and support for PHP.
Crypto.com is the cheapest exchange in terms of trading fees. However, it doesn't natively support PHP, meaning customers could face currency conversion fees when using the platform. Alternatively, Binance is the next best exchange with fees that start at 0.1% per transaction.
Although all the exchanges we've reviewed are available to use from the Philippines, only Binance, Bybit, PDAX, Coins.ph, and OKX offer native support for PHP deposits directly or via their P2P platforms.
Cryptocurrency investing or trading earnings are taxable in the Philippines. However, tax only applies after users exchange their crypto for fiat currency. While gains up to $4,500 are not taxed, profits above this can be taxed up to 35%.
Final Verdict
Throughout our comparison, we've reviewed the best crypto trading platforms in the Philippines, comparing core aspects like PHP support, local payment methods, range of assets, trading fees, and extra features. While all the platforms we've reviewed are good in their own right, one presented itself as the top pick for Filipino investors.
Binance is the world's largest exchange by volume and has a stellar track record of delivering an excellent trading experience. It offers support for PHP and local payment methods, offers competitive trading fees, and boasts features like staking and derivatives trading, making it the all-around best exchange in the Philippines.