6 Best Crypto Exchanges in the Philippines

List of Top Crypto Trading Platforms in the Philippines

How Did FXEmpire Choose the Best Crypto Platforms in the Philippines?

• Licensing and Regulation: We prioritized exchanges registered with or compliant with the Philippines’ Central Bank (BSP) or major authorities in the US, EU, or UK. This ensures the platforms are legally recognized and meet high safety standards.
• PHP Deposit and Withdrawal Options: We looked for platforms that support PHP deposits and withdrawals through bank transfers, digital wallets like GCash and Maya, and other local methods, focusing on fast withdrawal processing.
• Security and Transparency: We favored exchanges with strong security practices like cold storage, two-factor authentication, Proof of Reserves, and third-party certifications, along with transparent audits and protection funds.
• Trading Tools and Interface: We tested each platform to find exchanges that offer advanced features alongside a clean, user-friendly interface suitable for both beginners and experienced traders.
• Low Fees: We compared maker/taker fees, P2P fees, and fiat transaction costs, favoring platforms with low, transparent pricing that supports users at all trading volumes.
• Liquidity: We assessed trading volume and order book depth, prioritizing exchanges with deep liquidity across various coins to ensure smooth execution and minimal slippage.
• Local User Support: We prioritized platforms offering Filipino language options, easy onboarding and KYC with local documents, and customer support tailored to users in the Philippines.
• Customer Support: We evaluated support quality and speed, looking for 24/7 live chat or email services capable of resolving issues quickly and effectively.
• Tax Reporting Tools: We looked for platforms with downloadable transaction histories, automated tax tools, or reporting features that help Filipino users stay compliant with local regulations.

Best Crypto Exchanges in the Philippines Comparison Table

How to Choose the Best Crypto Exchange for Traders in the Philippines?

What Is the Current State of Crypto Regulation in the Philippines?

In the Philippines, crypto regulation is overseen by both the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC). The BSP regulates and licenses Virtual Asset Service Providers (VASPs), allowing them to legally offer crypto-to-fiat conversion services and related financial activities. Licensed VASPs must comply with anti-money laundering (AML) and know-your-customer (KYC) requirements under BSP Circular No. 1108.

The SEC is responsible for regulating investment products and securities, including tokenized assets that may fall under the definition of securities. It actively pursues unregistered crypto offerings and has implemented strict compliance measures to protect Filipino investors, especially following updates in 2023 that increased its oversight of digital assets marketed to the public.

What Crypto Taxes Do I Have To Pay in the Philippines, and How Do I Report Them?

In the Philippines, crypto gains are considered taxable income by the Bureau of Internal Revenue (BIR). Profits from trading, staking, and converting crypto to fiat are subject to income tax, and crypto-related businesses may also be liable for VAT depending on the nature of their services.

Filipino taxpayers must report all crypto transactions as part of their annual income tax filings. This includes: transaction dates, amounts, market value in PHP, and the type of asset involved. Since 2023, the BIR has begun coordinating with local and international exchanges to collect user data, which means failing to declare crypto transactions may lead to penalties or audits.

How to Choose a Safe Crypto Exchange in the Philippines?

We suggest looking for the following features when choosing an exchange:

• Licensing & Regulation: look for exchanges licensed by the BSP or leading financial authorities in the US, EU, or UK.
• Security Measures: 2FA, biometric authentication, cold storage, withdrawal whitelists, and anti-phishing codes.
• Transparency: detailed Proof of Reserves and published security audits.
• Insurance Coverage: third-party insurance or self-insurance coverage for user assets.

What PHP Deposits and Withdrawals are Available in the Philippines?

What are the Typical Trading Fees on Major Platforms Used in the Philippines?

Crypto exchanges offer lower base fees starting from 0.10% for maker/taker trades.

Many provide discounts for:

• High-volume traders (via VIP tiers)
• Using native tokens to pay fees (e.g., BNB on Binance)
• Some platforms offer zero maker fees or special fee-free promotions on select markets.

Futures and Derivatives Trading fees are generally lower than spot:

• Maker: 0.01%-0.02%
• Taker: 0.04%-0.06%

Additional funding rates apply for perpetual contracts.

Is P2P Trading Available in the Philippines for Buying Crypto?

Yes. Peer-to-peer (P2P) trading is one of the most common ways for Filipino users to buy crypto on global platforms. Major exchanges like Bitunox and Bybit offer P2P marketplaces where users can buy and sell crypto directly using Philippine Pesos (PHP) and local payment methods such as GCash, Maya, and bank transfers.

Are There Any Limitations or Bans for Philippine-Based Accounts?

Currently, there are no bans on crypto trading in the Philippines, but the SEC is cracking down on unlicensed exchanges. As a result, some international exchanges restrict features like derivatives trading for users in the country to comply with regulations.

What Should I Avoid When Choosing a Crypto Exchange in the Philippines?

We recommend avoiding exchanges that:

• Are not registered or licensed by the Bangko Sentral ng Pilipinas (BSP).
• Do not provide clear security features, like 2FA, cold storage, or proof of reserves.
• Promise guaranteed returns, which is a common red flag for Ponzi schemes.
• Lack of user reviews or transparency.

Always check an exchange’s reputation, licensing, and security practices before depositing funds.

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