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Best Crypto Exchanges in the Philippines

Best Crypto Exchanges in the Philippines

Get your roadmap to cryptocurrency success with our rundown of the best crypto exchanges in the Philippines, as well as essential investment tips.

Summary: In the Philippines, obtaining Bitcoin and other digital currencies is simple and safe, thanks to the vigilance of the Bangko Sentral ng Pilipinas, the country's financial regulator. You can use common payment methods such as bank transfers, GCash, PayMaya, and credit cards to deposit Philippine Peso (PHP) and start your journey in buying, storing, or trading digital assets confidently.

Our team has carefully curated a list of the top 5 platforms in the Philippines to help you navigate the crypto world with confidence. These are our premier picks for you:

  1. Bybit - Best Crypto Exchange in the Philippines
  2. OKX - Best for Web 3 and DeFi Compatibility
  3. Uphold - Best Crypto Exchange for Beginners
  4. Binance - Best for Derivatives Traders
  5. KuCoin - Best for Altcoins in the Philippines
Best Crypto Exchange in the Philippines
5.0 out of 5.0 by Datawallet.
Bybit excels as the top platform for Filipino crypto investors due to its vast selection of over 770 cryptocurrencies, robust security features like Triple-Layer Asset Protection, and versatile deposit options for Philippine Pesos.
Available Markets
770+ crypto assets, futures and options contracts.
Trading Fees
Maker fees 0.01% and Taker fees 0.06%.
PHP Deposit Methods
Bank Transfer, Google Pay, Gcash, Paymaya, Coin.ph and more.

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Best Cryptocurrency Exchanges in the Philippines

After an in-depth analysis of more than 15 crypto exchanges, we have identified the best platforms for investors in the Philippines. Our evaluation focuses on crucial factors, including approval and regulation by the Bangko Sentral ng Pilipinas (BSP), the range of digital assets available, user experience, Philippine Peso deposit options, transaction fees, and other essential criteria to give you a reliable ranking of these platforms.

1. Bybit

In the Philippines' evolving crypto landscape, Bybit stands out as the go-to platform for both traders and investors. With an extensive selection of over 770 cryptocurrencies and multiple deposit options for Philippine Pesos, the platform serves the diverse needs of the Filipino market. Bybit offers specialized features such as copy trading, a trading bot, and early access to promising new tokens via "ByStarter."

On the security front, Bybit emphasizes user protection through its Triple-Layer Asset Protection, which stores funds in secure, offline cold wallets. The platform also integrates real-time monitoring and advanced encryption methods to safeguard user data and assets. These comprehensive features and security measures make Bybit the ideal choice for crypto enthusiasts in the Philippines.

  • Fees: Maker orders 0.01% and taker orders 0.06% per trade. Zero deposit and withdrawal fees.
  • Supported Cryptocurrencies: 770+ Cryptocurrencies.
  • Regulation & Licensing: Licensed by Tier-1 regulators, trusted by over 10 million investors and available in the Philippines.
  • PHP Deposit Methods: Bank Transfer, GCash, Paymaya, debit card, credit card, Google Pay and more.
Best Exchange Philippines is Bybit

2. OKX

Taking the second spot on our list for the Philippine market is OKX, a platform that excels in the burgeoning Web3 domain. It offers an expansive array of over 300 cryptocurrencies, and takes trading to the next level with instruments like futures, options, and margin trading. The OKX Wallet is another standout feature, allowing users to switch effortlessly between centralized and decentralized finance services, integrating renowned DeFi platforms such as AAVE and Uniswap.

Security-wise, OKX follows stringent measures to ensure user safety. Though originally based in Seychelles, it is accessible to Filipino investors and adheres to relevant regulations. The platform particularly appeals to institutional investors and those interested in DeFi, thanks to its comprehensive API options, deep liquidity and Web3 compatibility.

  • Fees: OKX charges 0.1% for maker orders, a 0.2% fee for taker orders, and a standard 0.1% fee for spot trading.
  • Supported Assets: Over 300 cryptocurrencies, along with leveraged trading options.
  • Regulation & Licensing: Based in Seychelles and available in the Philippines.
  • PHP Deposit Methods: Bank transfers, GCash, debit cards and more.
OKX

3. Uphold

Securing the third spot on our list for Filipino investors is Uphold. With a user base that spans over 10 million people and more than 150 countries, Uphold brings a broad portfolio of more than 250 digital assets to the table. It separates itself from the pack with unique staking features, offering the potential to earn significant yields of up to 25% APY on a curated list of up to 30 cryptocurrencies.

Uphold's transparency and commitment to trustworthiness also stand out. It is registered with top financial regulatory bodies and aligns with global compliance standards. The platform offers audited proof-of-reserves, assuring 1:1 backing for all its listed digital assets. This adherence to transparent operations places it among the most reliable platforms for crypto investment. Available across web, iOS, and Android platforms, Uphold blends versatility and ease of use, making it a strong contender for crypto enthusiasts in the Philippines.

  • Fees: Trading comes with a 1% spread fee.
  • Supported Assets: A comprehensive list of 250+ digital assets, 4 types of precious metals (Gold, Silver, Platinum, Palladium), and 27 fiat currencies.
  • Regulation & Licensing: Regulated by the Financial Conduct Authority and available across Asia, including the Philippines.
  • PHP Deposit Methods: Google Pay, Apple Pay, and credit or debit cards.
Uphold Philippines

4. Binance

Coming in fourth place is Binance, a platform boasting a diverse ecosystem and a whopping user base exceeding 150 million globally. The platform's offerings extend beyond the usual spot and futures trading to include Binance Earn. This distinct feature enables users to accrue returns on a diverse selection of over 180 cryptocurrencies. This is a particularly enticing option for those keen on growing their capital and creating passive income streams.

Although Binance does a commendable job in attempting to meet international financial standards, it's worth mentioning that the platform has faced regulatory scrutiny in various jurisdictions. Filipino investors should consider this when assessing the platform's compliance status. However, what adds to its appeal is a wide array of support for different deposit methods, from bank transfers to credit and debit cards, making it convenient for users in the Philippines.

  • Fees: Binance charges a 0.1% fee for spot trading and has specific maker/taker fees for derivatives trading.
  • Supported Assets: The platform offers an extensive list of over 350 cryptocurrencies.
  • Regulation & Licensing: While not directly regulated in the Philippines, it remains accessible to investors in the country.
  • PHP Deposit Methods: Multiple options, including bank transfers and credit/debit cards, are available for Philippine Peso deposits.
Binance

5. KuCoin

Completing our top five list for Filipino crypto enthusiasts is KuCoin, a platform that originally gained traction in numerous global markets. With a daily trading volume that often surpasses $4 billion and a community of users that extends to over 200 countries, KuCoin stands out for its breadth of offerings and global reach. It hosts a remarkable range of more than 700 cryptocurrencies, becoming a one-stop shop for both established and up-and-coming digital assets.

Safety is a cornerstone for KuCoin, with advanced features like Proof of Reserves (PoR) ensuring a secure trading environment. The platform goes beyond just security; it also offers a variety of trading options and features an innovative Halo Wallet. With round-the-clock customer support and a global user base of 29 million, KuCoin demonstrates a strong commitment to customer satisfaction and community building.

  • Fees: KuCoin has competitive spot trading fees set at 0.1% and maker/taker fees for derivatives trading at 0.02%/0.06%.
  • Supported Cryptocurrencies: The platform boasts over 700 cryptocurrencies, including staking options for over 100.
  • Regulation & Licensing: While KuCoin is not directly regulated in the Philippines, it remains widely accessible to Filipino traders.
  • PHP Deposit Methods: Bank transfers, Gcash, digital wallets, debit and credit cards.
KuCoin

Is Crypto Investing Legal in the Philippines?

Yes, cryptocurrency investing is legal in the Philippines. The country's regulatory body for financial markets, the Bangko Sentral ng Pilipinas (BSP), has issued guidelines for virtual currency exchanges through Circular No. 944, which allows them to operate legally. However, it's essential to note that cryptocurrencies are not considered legal tender in the Philippines and are not backed by the government or any financial institution.

Additionally, the BSP has released advisories warning investors about the potential risks of trading in digital currencies. This includes volatility, cyber theft, and other operational risks. Therefore, exercising due diligence, thorough research and a complete understanding of the risks involved is crucial when engaging in cryptocurrency trading or investments.

How to Buy Bitcoin and Crypto in the Philippines

Investing in Bitcoin and other cryptocurrencies in the Philippines is a straightforward process, thanks to the country's generally progressive stance on digital assets. Here's a simple guide to help you purchase cryptocurrencies securely while complying with Philippine regulations:

  1. Choose a Platform: Select a BSP-regulated exchange like Coins.ph or PDAX to ensure safety and a diverse range of assets.
  2. Open an Account: Sign up using an email address, create a secure password, and complete the mandatory KYC (Know Your Customer) procedures.
  3. Fund Your Account: Deposit Philippine Pesos (PHP) through bank transfers, e-wallets, or other available methods.
  4. Buy Cryptocurrency: Select the cryptocurrency you wish to buy, enter the amount, and finalize the transaction.
  5. Safeguard Your Assets: It's advisable to transfer your newly acquired cryptocurrencies to a personal wallet for heightened security.

By choosing a BSP-compliant platform and following these straightforward steps, you can securely and effectively invest in cryptocurrencies in the Philippines.

Bottom Line

In summary, investing in cryptocurrencies in the Philippines is both secure and straightforward, with clear guidelines from the Bangko Sentral ng Pilipinas (BSP). Our extensive analysis highlights the top platforms for Filipino investors, such as Bybit, OKX, Uphold, Binance, and KuCoin, each excelling in different facets like asset diversity, user experience, and security. Following our easy guide to buying cryptocurrencies can help you venture into this digital asset landscape with confidence and make informed choices.

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