Summary
The best crypto exchanges in the Philippines operate under Bangko Sentral ng Pilipinas (BSP) regulation through VASP licensing. Local traders access PHP trading pairs through multiple payment channels including GCash, Maya, and bank transfers. The Philippine market features strict KYC requirements and BSP oversight of all cryptocurrency operations. Here are the best crypto exchanges in the Philippines:
Best Crypto Exchanges in the Philippines
Philippine cryptocurrency traders require exchanges that support PHP trading pairs and integrate with local payment systems. The following analysis examines trading fees, supported assets, and compliance with BSP regulations for the top cryptocurrency platforms serving Filipino users.
1. Bitget
Users:
23m
Free Demo:
Mobile App:
Bonus
$6,200
Cryptos:
840+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Over 800 cryptos
- Fair trading fees
- Great for EUR SEPA transfers
- 24/7 customer support
- Very beginner friendly
Cons
- Not available in the US
- No TWAP order supported
- Mandatory KYC for new accounts
Overview
Bitget is a true powerhouse for crypto traders from over 100 supported countries. What makes Bitget special is its beginner-friendly trading platform, which has over 800 supported cryptocurrencies. With so many supported cryptocurrencies, if you are looking to trade altcoins, Bitget might be one of your best shots.
With fiat support for 6 currencies, including EUR and RUB, Bitget is a top choice, especially for European users looking to deposit and withdraw funds in their native currency with ease. The 0% fee for SEPA transactions makes Bitget stand out. Credit card payments are also supported.
Experienced crypto traders can trade futures contracts on Bitget with 125x leverage on selected assets such as Bitcoin or Ethereum.
The spot trading fees start at 0.1% for makers and takers, which is very common in the industry. For futures traders seeking leverage for their day trading activities, Bitget charges very low fees of 0.02% maker and 0.06% taker.
2. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
200x
Spot Fees:
0.02%
Futures Fees:
0%/0.02%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 200x leverage and deep liquidity
- 24/7 customer support
- Best for altcoin and leverage trading
Cons
- Not available in the US
- Newly launched coins pose high risk
- May request KYC in the future
Overview
MEXC is known as the crypto exchange with the lowest fees. What makes MEXC stand out is its 0% maker fee offer, meaning you can trade without any fees. However, the spot and futures taker fees start at 0.02%. No crypto exchange can compete with the MEXC fee structure.
If you are a day trader seeking high leverage, MEXC may be one of your best options. With 200x leverage over 400 futures contracts and by far the lowest fees, MEXC is truly a day trading heaven.
Even if you are not interested in leverage trading, MEXC has you covered with over 2000 supported cryptocurrencies on the spot market. While MEXC offers tons of new altcoins, we recommend being cautious as the legitimacy of newly listed projects may be questionable.
All in all, MEXC is arguably the best option for high-frequency traders seeking low fees to get the best value for money.
3. Binance
Users:
200m
Free Demo:
Mobile App:
Bonus:
$100
Cryptos:
400+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.05%
Pros
- Most comprehensive crypto exchange
- Most advanced features and products
- 24/7 customer support
- 400+ cryptocurrencies
- Reputable with over 200 million users
- Best liquidity
Cons
- Not beginner friendly
- Restricted in many regions due to regulations
- EU traders must use BNFCR for futures trading
Overview
Reaching over 200 million registered users in 2024, Binance is by far the largest crypto exchange in the world. The platform is incredibly comprehensive, offering crypto traders all the tools they need to make a profit in the crypto market.
With over 400 cryptocurrencies to trade, leverage of up to 125x, directly integrated charts from TradingView with tons of technical analysis tools, and many more features, Binance has secured its spot as one of the best crypto exchanges.
Binance offers a wide variety of products, including spot, margin, futures, and options trading, staking, lending, P2P, automated bot trading, copy trading, and even an NFT marketplace. It is safe to say that crypto geeks will find everything they are looking for on Binance.
The trading fees on Binance are very affordable. Binance charges 0.1% trading fees on the spot market (makers and takers alike), which is the industry standard. Where Binance excels is the futures market with fees of only 0.02% for makers and 0.05% for takers.
4. Coinbase
Users:
100m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
250+
Leverage:
5x
Spot Fees:
0.4%/0.6%
Futures Fees:
0.02%/0.05%
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
- Great wallet for on-chain access
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
Coinbase Overview
Coinbase is one of the largest and most well-known cryptocurrency exchanges for buying cryptos.The platform currently has a user community of over 100 million users worldwide. What makes Coinbase special is its user-friendly interface. The platform is designed to be easy to use, making it accessible for beginners. Coinbase offers a clean and intuitive interface for buying, selling, and managing cryptocurrencies.
Crypto traders have access to over 250 cryptos for active trading. One downside of Coinbase is the fee structure. When you place an order at the market price that gets filled immediately, you are considered a taker and will pay a fee of 0.60%, which is very expensive.
Another thing about Coinbase is that it offers a wide range of crypto services. These include wallets, NFT, crypto staking, Coinbase cards, and many more to help improve the overall trading experience on the platform. One of our favorite features is the Coinbase wallet.
It is suitable for beginners but also offers advanced trading tools including real-time charts, technical indicators, and many more for advanced traders.
5. Kraken
Users:
10m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
220+
Leverage:
100x
Spot Fees:
0.25%/0.4%
Futures Fees:
0.02%/0.05%
Pros
- Very beginner-friendly
- Low futures trading fees
- Free demo trading
- Fiat supported
- 24/7 customer support
- Fully regulated
Cons
- High spot trading fees
- Lacks advanced features
- Poor liquidity for futures trading
- Complicated Demo trading
Kraken Overview
Kraken stands out as one of the most beginner-friendly crypto exchanges. With an easy to understand UI, simple features, and a straightforward approach, Kraken has onboarded over 10 million users to its platform from all around the world.
Spot traders can access over 220 cryptocurrencies for buying and selling. For traders seeking more buying power, Kraken offers a leverage trading platform with up to 50x leverage on selected assets such as BTC.
In terms of fees, Kraken has a different approach for spot and futures trading. While spot trading fees are relatively high (0.25% maker and 0.4% taker), the futures fees are very low (0.02% maker and 0.05% taker). Based on your 30-day trading volume, you can obtain additional fee discounts.
What we love about Kraken is its comprehensive fiat support. You can deposit funds using your credit card or bank transfer. Once you are done trading, you can withdraw fiat currencies such as EUR or USD back to your personal bank account to lock in your profits.
Is Crypto Legal and Regulated in the Philippines?
Cryptocurrency trading operates legally in the Philippines under the oversight of the Bangko Sentral ng Pilipinas (BSP). BSP Circular No. 1108 mandates cryptocurrency exchanges to obtain Virtual Asset Service Provider (VASP) licenses. The Securities and Exchange Commission (SEC) provides additional oversight for crypto assets classified as securities.
Licensed exchanges must maintain ₱50 million in minimum capital and implement strict Know Your Customer (KYC) procedures. The BSP requires periodic reporting and mandates anti-money laundering (AML) protocols. Current regulations permit PHP to cryptocurrency transactions through authorized platforms, with several exchanges receiving VASP approval since 2021.
The regulatory framework includes specific requirements for data protection, cybersecurity measures, and consumer protection mechanisms. VASP-licensed platforms must maintain partnership agreements with BSP-accredited banks and submit quarterly reports detailing transaction volumes and risk management practices.
Is Crypto Taxable in the Philippines?
The Bureau of Internal Revenue (BIR) classifies cryptocurrency gains as taxable income. Capital gains from crypto trading incur a 15% tax rate for casual transactions. Professional traders face progressive income tax rates between 20% and 35% on trading profits.
Mining operations require business registration and taxation as self-employed individuals. Cryptocurrency received as payment for services falls under regular income taxation. The BIR mandates detailed record-keeping of all cryptocurrency transactions for tax assessment purposes.
Tax obligations extend to cryptocurrency mining operations, staking rewards, and DeFi yields. Miners must register as business entities and file quarterly income tax returns. NFT sales generate capital gains tax liability, while crypto-to-crypto transactions require documentation for future tax assessment.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in the Philippines.
How to Buy Crypto in the Philippines
Philippine investors can purchase cryptocurrency through Bitget, which offers comprehensive PHP trading pairs. The platform supports major cryptocurrencies including Bitcoin, Ethereum, and Tether, with integration for local payment methods.
The platform integration with local payment systems enables rapid PHP deposits and withdrawals. Users access competitive exchange rates and deep liquidity pools for major cryptocurrency pairs. The BSP-licensed status ensures regulatory compliance and fund security.
- Choose a BSP-licensed crypto exchange and verify their PHP payment methods and KYC requirements.
- Complete the registration and submit the necessary identification documents.
- Fund your account using GCash, Maya, or a bank transfer in PHP.
- Select your preferred cryptocurrency, such as BTC, ETH, or USDT.
- Execute the trade at the current market price or set limit orders.
- Transfer the purchased cryptocurrency to a secure wallet for long-term storage.
Best Crypto Wallets in the Philippines
Filipino crypto investors need reliable storage solutions for safeguarding their digital assets. Ledger and Trezor hardware wallets offer the highest level of security for long-term holdings. For daily use, Trust Wallet and MetaMask provide easy mobile access.
Exodus wallet supports a wide range of cryptocurrencies and has an integrated exchange feature. Local traders frequently use Trust Wallet for its compatibility with BSC and support for PHP-based DeFi applications. Hardware wallets remain the go-to choice for storing large sums, while mobile wallets are ideal for frequent trading.
For Philippine users, key security measures include enabling two-factor authentication, using strong passwords, and keeping offline backups of recovery phrases. Hardware wallet users also benefit from enhanced security features like PIN protection and encrypted storage of private keys.
Bottom Line
For traders seeking the best crypto exchanges in the Philippines, Bitget leads with its extensive PHP trading pairs and competitive fees. MEXC follows as a strong alternative, offering advanced trading features and high liquidity. Both platforms maintain BSP compliance and support popular local payment methods, making them ideal choices for Filipino cryptocurrency traders.
