A detailed review outlining what the five best crypto exchanges in the Philippines are. Learn about the top platforms and compare their fees, features, security, customer support options, and more.
Summary of 5 Best Crypto Exchanges in the Philippines
In the Philippines, experts advise opting for exchanges regulated by the Bangko Sentral ng Pilipinas (BSP) for purchasing and trading Bitcoin and other cryptocurrencies. By utilizing bank transfers, UPI transactions, or credit cards to deposit PHP (Philippine Peso), individuals can legally buy, stake, and trade digital assets.
For novices embarking on their crypto ventures in the Philippines, we’ve assessed the top 5 trading platforms prevalent in the region:
- Bybit – Best Overall Crypto Exchange in the Philippines
- Binance – Best for Spot Trading
- OKX – Ideal for Newbies [Easiest to Use]
- Huobi Global – Top Choice for Institutional Investors
- Kraken – The Cheapest Exchange
Bybit Overview
Rated as the premier crypto exchange in the Philippines, Bybit is known for its low fees, high liquidity, and margin trading with up to 100x leverage.
- Supports Philippine Peso (PHP) and other major fiat currencies
- Offers spot trading, futures trading, perpetual contracts, and more
- Features 298 tradable cryptocurrencies
- Charges 0.025% to 0.075% maker and taker fees
- Allows minimum deposit of $1
- Secure platform with industry-leading encryption
Why we like it:
- Advanced trading platform with 100x leverage
- Low-risk price manipulation and liquidations
- Settles contracts in cryptocurrencies or stablecoins
- Lucrative signup and referral bonus programs
- Innovative trading tools like TradingView charts
Binance Overview
Emerging as the top spot trading platform, Binance offers over 500 cryptocurrencies with some of the lowest trading fees in the industry.
- Supports Philippine Peso (PHP) deposits and withdrawals
- Provides spot trading for 387+ coins and tokens
- Charges 0.1% spot trading fees (further reduced with BNB)
- Allows fiat deposits with no transaction fees
- Features staking, savings accounts, P2P trading, and more
- Robust security infrastructure
Why we like it:
- Massive selection of tradable cryptocurrencies
- Low flat fees across all trades
- Convenient fiat on-ramps for Philippine users
- User-friendly interface and mobile app
- Secure storage for crypto assets
OKX Overview
OKX is a user-friendly exchange catering to beginners with its straightforward account setup process, intuitive interface, and educational resources.
- Supports Philippine Peso (PHP)
- Provides spot trading and derivatives for 367+ coins
- Charges maker fees of 0.08% and taker fees of 0.1%
- Allows minimum BTC deposit of 0.00005 or USDT deposit of 0.00000001
- Offers 100x futures leverage and perpetual swap contracts
- Beginner-friendly trading platform and guides
Why we like it:
- Easy to navigate platform for crypto newcomers
- Low minimum account deposits
- Lucrative staking rewards up to 20% APY
- Secure hot and cold wallet storage
- 24/7 multilingual customer support
Huobi Global Overview
Emerging as a security-focused trading platform, Huobi Global stores 98% of digital assets in cold wallets and offers users protection via its dedicated “Secure Asset Fund”.
- Does not directly support Philippine Peso
- Provides spot and derivatives trading for 595+ coins
- Charges 0.2% maker and taker fees
- Requires minimum BTC deposit of 0.001
- Features margin trading with borrowable assets
- Robust security infrastructure
Why we like it:
- High asset security with cold storage
- Insurance protection against theft or losses
- Low fees compared to global industry averages
- Margin trading features for advanced traders
- Multiple trading platforms for web, mobile, etc.
Kraken Overview
Kraken is a top crypto exchange catering to beginners with its simple user interface, educational guides, and account security features.
- Does not directly support Philippine Peso
- Provides spot and margin trading for 205+ coins
- Charges low maker fees from 0% to 0.16%
- Requires minimum deposit of $10 equivalent
- Allows funding via wire transfers and cryptocurrencies
- Beginner-friendly account setup and platform
Why we like it:
- Easy to navigate trading platform
- Low minimum deposit requirements
- Wide range of educational resources
- High-level encryption and security
- Excellent 24/7 customer support
How to Purchase Cryptocurrencies in the Philippines
For beginners aiming to invest in digital currencies within the Philippines, adhere to this detailed, step-by-step guide for lawful and secure transactions:
- Select a reliable exchange – Choose a trusted platform regulated by Bangko Sentral ng Pilipinas.
- Complete account registration – Provide your email, set a strong password, complete KYC verification.
- Deposit funds – Fund your account via bank transfer, credit card, or UPI in PHP.
- Purchase crypto – Select desired crypto assets and quantities then confirm order details.
- Use a secure crypto wallet – Withdraw to a hardware or software wallet to enhance security.
Legality and Regulation of Crypto in the Philippines
Cryptocurrencies are legal in the Philippines and exchanges require regulation from the Bangko Sentral ng Pilipinas (BSP) to operate. There are currently 17 licensed crypto exchanges in the country.
Is Crypto Legal in the Philippines?
Yes, cryptocurrencies are recognized as a legal tradable asset class in the Philippines. Individuals can legally invest and trade in popular coins like Bitcoin, Ethereum, etc.
How is Crypto Taxed in the Philippines?
Gains from cryptocurrencies are subject to a capital gains tax in the Philippines. This can amount to as high as 15% and needs to be declared in annual tax returns by residents.
Conclusion
There are several excellent crypto trading platforms to choose from in the Philippines. By opting for secure and regulated exchanges like Bybit, Binance, OKX, Huobi Global, and Kraken, you can seamlessly buy, sell, and trade digital currencies. Remember to withdraw assets into a hardware or software wallet for optimal security.
FAQs
What is the top Philippine crypto exchange?
Bybit is currently the top-rated cryptocurrency exchange in the Philippines due to its low trading fees, high liquidity, and robust security infrastructure for traders.
What is the best crypto wallet for Filipinos?
The Ledger Nano X hardware wallet is considered the best crypto wallet for security-focused Filipino users. It offers offline asset storage with encryption, backup features, and integrates with several decentralized apps.
What is a legit crypto broker in the Philippines?
Binance is the most prominent and secure cryptocurrency broker legally operating in the Philippines with regulation from the Bangko Sentral ng Pilipinas (BSP).
What Philippine bank accepts crypto?
The Union Bank of the Philippines is considered the most cryptocurrency-friendly bank in the country. In addition to handling transactions, they have also launched their own stablecoin PHP UBX pegged to the Philippine peso.
