The wave of cryptocurrency has reached every corner of the world. Not just the rich nations, but the developing countries are also betting big on it. The Philippines is one of those countries that has shown a high proclivity towards blockchain technology. This country receives the third-largest amount of remittances in the world. It is also known for increasing the adoption of new technology.
Therefore, a number of crypto exchanges are gaining prominence in the Philippines. These trading platforms enable the savvy population of this country to invest in digital assets. They don’t just facilitate buying and selling of crypto, allow traders to do much more. Equipped with so many cutting-edge features, these exchanges are expediting the mainstreaming of blockchain.
The people of the Philippines are keen to embrace decentralized finance. However, this feat isn’t so easy considering the challenges posed by our existing financial ecosystem. But these platforms are making things better for blockchain enthusiasts. The top crypto exchanges in the Philippines allow people to delve into new and innovative projects. Thus, exploring them definitely makes sense, as many of them could be available for global traders too.
Top Crypto Exchanges in the Philippines to Explore
A mix of native and international platforms is shaping the future of cryptocurrencies in this country.
Bitget
Bitget has emerged as a popular choice among the people of Philippines. The platform comes with some versatile and user-friendly features. It does a great job of providing liquidity to safeguard investors. When it comes to offering cryptos, it offers a broad array of them to traders. Also, the platform comes with a user-friendly interface to make all tasks easy to undertake. Its compatibility with the Philippine Peso makes things even easier for local users.
Some of its highlights include copy trading, high-speed order execution, and a competitive fee structure. It even lets you conduct trading contests to keep the investors engaged. Users praise its customer support for being quick and professional support.
Binance
Besides being a global major, Binance has a dominant presence in the Philippines. The platform offers a spectrum of digital assets along with inventive features. It brings robust security features and high liquidity to traders. The intuitive interface makes the platform suitable for experienced investors as well as beginners. Users can buy, sell, trade major crypto as well as emerging tokens.
The platform supports Philippine Peso to make digital assets more accessible to locals. With so many attributes and solutions, the exchange gives crypto trading a big boost. It’s also friendly with entrepreneurs with its launchpad to support new tokens. Moreover, it’s compliant with regulations and offers numerous trading products.
Gemini
Gemini is another US-based exchange popular in Philippines for various reasons. The platform has always prioritised user-friendliness along with innovation and security. It comes with a unique ActiveTrader interface that makes the trading experience seamless. Users get access to advanced charting tools, multiple order types, and high-speed executions. The platform is available on a mobile app as well. It’s definitely among the top crypto exchanges in the Philippines.
The platform implements SOC1 and SOC2 type certification to bolster security. Furthermore, it functions as a full-reserve exchange offering a competitive fee. The maker and taker fees are 0.2% and 0.4%, respectively. However, the fee lowers as the trading volume goes up. The platform makes the trading environment very conducive and profitable.
Coinbase
Coinbase is one of the largest trading platforms with a strong presence in the Philippines. It offers a plethora of services that users can take advantage of. The interface makes this platform suitable for all types of people interested in trading. Along with an ample amount of assets to trade, it delivers unmatched security standards. Users can indulge in altcoins and many other options.
The platform also provides educational resources for beginners to learn. It even ups the ante by offering rewards using the learning tools. For tightening the security, Coinbase implements two-factor authentication, cold storage, and other sophisticated measures. It enhances credibility among traders and aims to make everyone’s crypto journey safer.
Kraken
Kraken is a globally-renowned exchange known for its stalwart security and broad range of coins. The platform offers an optimised trading experience for experienced traders as well as newbies. Users can buy, sell and exchange a plethora of assets, including Ethereum and altcoins. It makes portfolio diversification and management effective while offering various investment opportunities.
Investors may also find assorted ways of earning profits. They can engage in Ethereum staking and utilise avant-garde features to ease trading. Kraken also allows them to lock their tokens to gain rewards. Leveraging their positions, investors can securea higher return on this platform. On the security front, it implements encryption techniques and two-factor authentication.
Coins.ph
A subsidiary of Betur.inc, Coins.ph is an exchange established and operating out of the Philippines. Traders can buy, sell, and exchange Bitcoin and Ethereum on this platform. When it comes to functionality, it offers an advanced digital wallet that stores cryptos and Philippine Pesos. It also enables users to make payments for utility bills using their virtual assets. It is accredited to be one of the top crypto exchanges in the Philippines.
The app makes the overall usage and trading seamless, especially for new traders. In the past few years, the platform registered a huge spike in the user base. Coins.ph operates as a Virtual Asset Service Provider (VASP) and offers various solutions to customers. People can utilize it for remittances, transfers, and money exchanges. It has made crypto much more reliable and accessible for Philippino.
Bloom.Solutions (BloomX)
Licensed by the Central Bank of the Philippines, BloomX is another exchange making crypto popular among Philippinos. The platform has facilitated over $250,000,000 transactions since its establishment. Users can buy, sell, and exchange over 250 digital assets, including Bitcoin, Ethereum, and USDC. They can buy all these cryptos using the Philippine peso.
Founded in 2015, BoomX implements the latest security standards to deliver reliable security. Utilizing smart trading it also brings down the overseas settlement cost. The platform has access to multiple markets and offers zero volatility risk. It funds transactions in real-time while delivering a simple user interface. For institutional investors, it expands the revenue channels as well.
Direct Agent 5 (DA5)
Direct Agent 5 (DA5) mainly focuses on crypto-enabled remittances and forex. However, it offers cryptocurrency trading as well as a service. The platform is accessible on Android and iOS platforms with a thriving presence in the Philippines. With a range of eWallet and digital payment channels, it handles high transaction volume too. The features and functionality have made DA5 a prominent player Philippino crypto landscape.
The platform specializes in streamlining transactions. As a result, it processes forex transactions and remittances quite efficiently. Furthermore, the traders have experienced easy and savvy trading on it. Providing flexibility and convenience, DA5 does a great job of bringing people closer to blockchain. It has the potential to be among the top crypto exchanges in the Philippines.
Maya Philippines, Inc.
Maya Philippines functions as a crypto wallet with exchange functionality. Users can easily access it through its mobile app on multiple platforms. They can buy, sell, send, and receive a wide array of digital assets. The platform boasts a huge user base of 50 million accessing cryptos like BTC, ETH, Cardano, Uniswap, etc. It’s the second most-used e-wallet in the Philippines, making decentralized finance more accessible.
The wallet makes crypto portfolio management and storage quite simple. It even lets those access digital assets who don’t have a bank account access digital assets. Maya is recognized by the Central Bank of Philippines and Bangko Sentral Philippines (BSP). Using this wallet, users cannot just use their crypto, they can leverage it for their business.
Prospects of Top Crypto Exchanges in the Philippines
The Philippines is among countries with a high proclivity towards digital transformation. The citizen as well as the government, are keen to embrace the blockchain technology. Having said that, the country needs to do more on the regulation front to safeguard its investors. The country has given significant support to Virtual Asset Service Providers (VASPs).
With a growing remittance hub, it is becoming a hub of decentralized finance. At the same time, it is are technological advancements in the growing crypto space. Along with the investors, the entrepreneurs are getting a boost as well. The involvement of traditional banking institutions is making these developments reliable for people. Despite all that, only time will tell how the crypto boom will work for the Philippines.
Final Words
Philiippines certainly has the potential to become a springboard for crypto and blockchain technology. The success of top crypto exchanges in the Philippines indicates a bright future for digital assets. The supportive regulations of the country are giving a major boost to all DeFi projects. Still, it requires a continued coordination of industry players for the fulfilment of that vision. And it seems that the Philippines is doing its best to accomplish this feat.
Frequently Asked Questions
Which are the top crypto exchanges in the Philippines?
The top crypto exchanges in the Philippines include both international and local platforms such as Bitget, Binance, Gemini, Coinbase, Kraken, Coins.ph, BloomX, Direct Agent 5 (DA5), and Maya Philippines, Inc. These platforms are popular due to their user-friendly features, security, and compatibility with the Philippine Peso.
Are top Crypto Exchanges in the Philippines exchanges regulated and safe to use?
Yes, many of the leading exchanges in the Philippines are regulated and implement robust security measures. For example, Coins.ph and BloomX are licensed by the Central Bank of the Philippines (Bangko Sentral ng Pilipinas), and platforms like Gemini and Coinbase employ advanced security protocols such as two-factor authentication and cold storage.
Can I use Philippine Peso (PHP) to buy cryptocurrencies on these exchanges?
Absolutely! Most major exchanges operating in the Philippines, such as Bitget, Binance, Coins.ph, and BloomX, support transactions in Philippine Peso. This makes it convenient for local users to buy, sell, and trade cryptocurrencies without needing to convert currencies.
