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Best Crypto Exchanges in Philippines 2024

Publisher

February 24, 2024
Best Crypto Exchanges in the Philippines 2023

For traders and investors in the Philippines looking to invest in cryptocurrencies, it’s essential to use a crypto exchange that adheres to the regulatory norms given by the Central Bank of the Philippines and offers the best trading conditions. Choosing a crypto exchange that supports the Philippine Peso (PHP) offers an extra advantage for users who can buy cryptos with their native currency easily.

 

Top 5 Crypto Exchanges in the Philippines Reviewed

This article features the 5 best crypto exchanges in the Philippines and their features, including trading fees, security, supported cryptocurrencies, and many more, to help you identify the best platform that suits your needs. They include:

  1. Bybit – Best Crypto Exchange in the Philippines
  2. BingX – Best no KYC Crypto Exchange in the Philippines
  3. Binance – Largest Crypto Exchange in the Philippines
  4. MEXC – Popular Altcoin Exchange in the Philippines
  5. Kraken – Most Secure Exchange in the Philippines

 

1. Bybit

Bybit stands out as one of the most advanced crypto derivatives trading platforms for users in the Philippines. With over 400 cryptos, 100x leverage, some of the lowest trading fees, and high liquidity, Bybit is the perfect option for advanced traders in the Philippines.

The platform is fully licensed and is compliant with the guidelines of the Central Bank of the Philippines for crypto trading.

We recommend Bybit as the best crypto exchange for users in the Philippines due to its advanced futures trading feature, which offers advanced trading tools, including real-time charts and advanced order types.

Users have access to fees as low as 0.02% for makers and 0.055% for takers for futures trading, while for spot trading, fees are set at 0.1% for both makers and takers. Bybit also offers leverage of up to 100x on derivatives and perpetual contracts. That makes Bybit one of the best options for active futures trading in the Philippines.

Additionally, Bybit offers many passive income products and trading options, including Copy trading, NFT trading, liquidity mining, staking, etc. That makes the platform attractive for users seeking extra income while trading.

Lastly, Bybit supports the Philippine Peso (PHP), so users can buy Bitcoin and other cryptos seamlessly with various payment methods. Payment methods include bank cards, bank transfers, or third-party payment providers, e.g., Banxa, and many more.

To learn more about Bybit, check out our full Bybit review.

 

Spot Fees: 0.1% maker/ 0.1% taker

Futures Fees: 0.02% maker/ 0.055% taker

Supported Cryptos: 400+

Futures Contracts: 200+

Customer Support: 24/7 live chat

 

Bybit Pros and Cons

👍 Bybit Pros👎 Bybit Cons
✅ Low trading fees❌ Not beginner friendly
✅ 400+ cryptos❌ Not available in the U.S
✅ Copy trading
✅ Advanced trading tools
✅ High liquidity

 

Visit Bybit!

 

2. BingX

BingX is a popular crypto exchange in the Philippines, offering access to over 500 cryptocurrencies, including BTC, ETH, USDT, and many more for active trading. The platform is fully licensed and compliant with all the rules and regulations of the Central Bank of the Philippines for crypto trading. Aside from cryptos, BingX supports stocks, forex, commodities, and forex.

Users also have access to very low trading fees. On the spot market, charges are set at 0.1% for both makers and takers, while for futures trading, charges are 0.02% for makers and 0.05% for takers.

What we like about BingX is that the exchange offers a very intuitive and user-friendly trading interface that is easy to navigate for beginners and experienced traders. The platform also offers advanced trading tools, including advanced order types, technical indicators, etc.

Another thing about BingX is that it supports the Philippine Peso (PHP) for buying cryptos seamlessly at low fees on the platform. Payment methods include bank cards, P2P trading, etc.

To learn more about BingX, check out our full BingX review.

 

Spot Fees: 0.1% maker/ 0.1% taker

Futures Fees: 0.02% maker/ 0.05% taker

Supported Cryptos: 500+

Customer Support: 24/7 live chat

 

BingX Pros and Cons

👍 BingX Pros👎 BingX Cons
✅ Wide range of supported cryptos❌ Limited payment methods
✅ Very user friendly❌ Limited customer support
✅ Advanced trading tools
✅ Low trading fees

 

Visit Bingx!

 

3. Binance

Binance was founded by Changpeng Zhao in 2017. The exchange currently ranks as the largest crypto exchange in the world, with over 120 million users across 180 countries, including the Philippines. Additionally, Binance is fully licensed and complies with all the guidelines of the Central Bank of the Philippines for crypto trading.

Users have access to over 350 cryptocurrencies for active trading. The exchange also offers Spot and futures trading, copy trading, NFT trading, bot trading, and many more. That makes Binance one of the best crypto exchanges for active trading in the Philippines.

Binance also offers very low trading fees and generous discounts. On the spot market, fees are set at 0.1% for makers and takers, while for futures trading, charges are 0.02% for makers and 0.04% for takers. Users also enjoy up to 20% discount on payments made with the Binance token (BNB).

Moreover, Binance is best for experienced traders as it offers a wide range of crypto trading products and advanced trading tools, which may confuse beginners. Binance also offers leverage of up to 125x on derivatives and perpetual contracts.

Lastly, Binance supports over 40 fiat currencies, including the Philippine Peso (PHP), for buying cryptos on the platform. Payment methods include Visa/Mastercard, bank transfers, P2P trading, etc.

To learn more about Binance, check out our full Binance review.

 

Spot Fees: 0.1% maker/ 0.1% taker

Futures Fees: 0.02% maker/ 0.05% taker

Futures Contracts: 260+

Supported Cryptos: 1600+

Customer Support: 24/7 live chat

 

Binance Pros and Cons

👍 Binance Pros👎 Binance Cons
✅ Low spot and futures trading fees❌ Not beginner friendly
✅ Passive income products❌ Poor regulation
✅ High liquidity
✅ Full proof of reserves
✅ Advanced trading tools

 

Visit Binance!

 

4. Kraken

Kraken stands out as the most secure crypto exchange for users in the Philippines. The platform implements advanced security measures, including two-factor authentication, cold storage, and encryption for safeguarding user assets. Additionally, Kraken provides full proof of reserves, ensuring company funds always back all user assets.

The platform is fully licensed and obeys all the rules and regulations required for crypto trading in the Philippines.

Kraken supports over 200 cryptocurrencies for spot and futures trading, including BTC, ETH, and USDT. Users can also access advanced trading tools, including real-time charts, advanced order types, and technical indicators, making it an attractive choice for experienced traders.

Trading fees are set at 0.16% for makers and 0.26% for takers on the spot market, while for futures trading, charges are 0.02% for makers and 0.05% for takers. That makes Kraken more suitable for futures traders and less suitable for spot traders in the Philippines.

Lastly, Although Kraken doesn’t support the Philippine Peso (PHP) for payments, the platform offers a wide range of payment methods for traders in the Philippines. It supports various fiat currencies, including USD, GBP, and EUR. Payment methods include Visa/Mastercard, bank transfers, GooglePay, SEPA, and many more.

To learn more about Kraken, check out our full Kraken review.

 

Spot Fees: 0.16% maker/ 0.26% taker

Futures Fees: 0.02% maker/ 0.05% taker

Supported Cryptos: 200+

Customer Support: 24/7 live chat

Licensed & Regulated: Regulated by Financial Conduct Authority (FCA), FINTRAC, AUSTRAC, and FSRA.

 

Kraken Pros and Cons

👍 Kraken Pros👎 Kraken Cons
✅ Low futures trading fees❌ High spot trading fees
✅ Advanced trading tools❌ Crypto staking is not available for U.S users
✅ Advanced security
✅ Wide variety of payment methods
✅ User-friendly trading interface

 

Visit Kraken!

 

6. MEXC

Founded in 2018, MEXC stands out as one of the world’s leading crypto exchanges, offering a wide range of trading services for traders and investors in the Philippines. These include spot trading, perpetual futures, copy trading, bot trading, and many more.

The user-friendly platform offers users access to over 1600 cryptos for active trading, including BTC, ETH, and USDT. Users can also leverage up to 200x on derivatives and perpetual contracts.

Additionally, MEXC is fully licensed and is compliant with all the rules and regulations required for crypto trading in the Philippines. That makes it a very reliable choice for Philippine traders.

MEXC offers the lowest trading fees for spot and futures trading in the Philippines. Users have access to fees as low as 0% for both makers and takers on the spot market, while for futures trading, charges are 0% for makers and 0.03% for takers.

Lastly, MEXC supports the Philippine Peso (PHP) for buying various cryptocurrencies on the exchange at low fees. Payment methods include credit/debit cards and third-party payment options, including Banxa and Simplex.

To learn more about MEXC, check out our full MEXC review.

 

Spot Fees: 0% maker/ 0% taker

Futures Fees: 0% maker/ 0.03% taker

Supported Cryptos: 1600+

Customer Support: 24/7 live chat

 

MEXC Pros and Cons

👍 MEXC Pros👎 MEXC Cons
✅ Lowest trading fees❌ Lacks passive income products
✅ High liquidity❌ Inferior copy trading
✅ 1600+ cryptos
✅ Up to 200x leverage on derivatives and perpetual contracts
✅ Advanced trading tools

 

Visit MEXC!

 

Is Crypto Legal in the Philippines?

Yes, cryptocurrencies are generally legal and are gaining popularity in the Philippines. However, individuals and businesses are expected to comply with relevant regulations provided by the Central Bank of the Philippines to ensure a legal and secure trading environment for all crypto enthusiasts.

 

How to Buy Cryptos in the Philippines

For those new to crypto and looking to invest in Bitcoin and other cryptocurrencies in the Philippines, here’s a straightforward guide to ensure safe and legal transactions in line with the Central Bank of the Philippines.

  1. Choose a reputable exchange: Select any reputable exchanges from the top list above that provide your needed services.
  2. Register: Sign up using your email address or phone number, set a strong password, and complete KYC procedures if required.
  3. Deposit PHP: Deposit funds into your account through available payment methods on the platform.
  4. Purchase crypto: Select Bitcoin or any other crypto of your choice, specify the amount, and confirm the purchase.
  5. Secure your assets: You can enhance the security of your digital assets by transferring them to a private crypto wallet.

 

Final Thoughts

In conclusion, crypto trading is becoming more popular in the Philippines, and traders must select the most reliable platform that aligns with their needs for effective and stress-free trading.

You can review the top list above and all the necessary features before choosing your preferred cryptocurrency exchange.

MEXC and Binane are the best options for low trading fees, offering low fees for both spot and futures trading.

Binance, Bybit, and BingX are the best options for users in the Philippines for a wide range of passive income products.

For a wide range of supported cryptos, MEXC, BingX, and Bybit are the best options for Philippine traders.

However, we recommend Bybit as the best crypto exchange for users in the Philippines. It offers a very intuitive interface, a wide range of supported cryptos, low trading fees, and many more for active trading.

 

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